EXPLORING STRATEGY PERCEPTIONS IN CHANGING ENVIRONMENTS*

This article explores how a firm perceives its own strategy and that of its competitors. Findings from an exploratory, sociometric study covering both a period of ‘boom’ and a period of ‘bust’ demonstrated that firms and competitors differ greatly in their strategy perceptions. These perceptions were also found to differ from ‘objective’ evaluations made by the investigator. None of the firms studied was found to change their basic strategy in response to environmental jolts.     

Land, Factor Markets, and Inequality in Rural China: Historical Evidence

Drawing on a unique household-level data set from northeast China in the 1930s, this paper explores the connections between the distribution of land, factor markets, and income distribution. We test whether patterns of income inequality were consistent with the predictions of a market-clearing, neoclassical model linking land and labor endowments, through factor markets to household income. While the model is consistent with some features in the data, we reject the hypothesis that factor markets worked perfectly and find support for the historian's intuition regarding the disproportionate impact of land inequality in the countryside. Nevertheless, where markets were more active, especially land rental markets, excess returns to land were diminished and inequality was lowest. This suggests that factor market development played a positive role in reducing inequality in rural China.     

Cost‐Effective Control Strategies for Johne's Disease in Dairy Herds

Johne's disease (JD), or paratuberculosis, is an incurable and infectious disease of ruminants, caused by infection with Mycobacterium avium ssp. paratuberculosis (MAP), and costing an estimated CAD$15 million in Canada and US$200–$250 million in the United States. This study examines the economic and epidemiological consequences of various MAP control options in the context of controlling JD in dairy herds. A discrete optimal control model is developed utilizing the disease‐specific animal compartment model and maximizing the net present value of a dairy operation. The results identify the optimal control option together with the associated herd dynamics and optimal culling rates of cows in different infection states. The results show that comprehensive, effective, and profitable JD control programs can be developed for dairy farms.     

Motivation for emergency and retirement saving: an examination of Regulatory Focus Theory

Can Regulatory Focus Theory be used to better understand consumers' saving attitudes and behaviours? The theory posits that prevention‐ and promotion‐oriented personality traits may influence financial decision making. Using secondary and experimental survey data, two research questions were examined: (1) Are promotion‐ and prevention‐related saving goals, in combination with promotion‐ and prevention‐oriented personality traits, related to attitudes towards saving behaviour? (2) To what extent does the match between these goals and traits affect actual saving behaviour? Findings confirmed that promotion‐oriented consumers were less likely to save for prevention goals, while the opposite was true for prevention‐oriented individuals. Further, consumers' saving goal and personality trait‐based regulatory focus were found to influence cognitive attitudes towards saving. The discussion focuses on how these findings and theoretical perspectives may predict and influence consumers' financial decision making.