A New Look at Husbands' and Wives' Time Allocation

The impacts of economic and non‐economic factors on husbands’ and wives’ market work time and housework time are estimated using 13 years of data from the Panel Survey of Income Dynamics. Several limitations in earlier studies are addressed, and a unique feature of the study is the direct estimation of effects on time allocation from changes in the prices of market‐produced goods and input goods in household production. Many of the findings of earlier studies are reconfirmed, but new insights are also explored. Husbands and wives respond similarly in their time allocations to changes in input goods prices, but their responses are different to changes in market goods prices.     

Using Reference Models within the Enterprise Resource Planning Lifecycle

ERP-specific reference models describe on a conceptual level the structure and functionality of enterprise resource planning solutions. However, these models focus on depicting executable processes and do not take into account tasks related to business engineering, system selection, implementation or change. This paper discusses how reference process models can be used within the entire ERP lifecycle. All phases of the ERP lifecycle have individual requirements for the management of the relevant knowledge. It will be shown how extended reference models can serve as a knowledge repository for enterprise resource planning. This paper includes several pragmatic recommendations for managers involved in ERP projects.     

Equity Issuance and Adverse Selection: A Direct Test Using Conditional Stock Offers

We conduct a unique test of adverse selection in the equity issuance process. While common stock is the dominant means of payment in bank mergers, stock acquisition agreements provide target shareholders with varying degrees of protection against adverse price movements in the bidder's stock between the time of the merger agreement and the time of merger completion. We show that it is the degree of protection against adverse price changes and not the percent of stock offered in a bank merger that explains bidder merger announcement abnormal returns. This result is difficult to explain outside of an adverse selection framework.     

An Exploration of Rent Seeking*

The aim of this paper is 10 survey critically the recent literature on rent seeking and Directly Unproductive Profit-Seeking Activities (DUP). The links with the related literatures on transactions costs and property rights are also explored. It is argued that a clearer understanding of wasteful competition emerges if the framework of constitutional economics is adopted. It is furthermore argued that a dynamic framework is most suitable to analyze wasteful competition