A three-sector model for real property tax incedence

This article presents a new three-sector general-equilibrium model for tax incidence analysis. The model differs from the usual two-sector model not only in the addition of an extra sector but also in abandoning the classical tradition of specifying with capital and labor arguments. The property tax in the model is specified as a partial tax applying to real — but not to personal — property used in the production of housing services and other goods.The model is quantified by selecting numerical values for its parameters in order to estimate percentage changes in the endogenous variables caused by the introduction of an exogenous property tax. The major effect of the tax is to make real property relatively more expensive and to cause less real property to be produced.     

Sportsbook pricing and the behavioral biases of bettors in the NHL

The betting market for the NHL is investigated using actual betting percentages on favorites and underdogs from real sportsbooks. Sportsbooks do not appear to attempt to price to balance the book as betting percentages are not proportional to set odds. As in the NFL and NBA, bettors are shown to have a strong preference for favorites and road favorites in particular. Simple strategies of betting against significant imbalances toward the favorite are shown to generate positive returns. Although not pricing to balance the book, sportsbooks do not appear to price to exploit known bettor biases in all cases. Clear bettor behavioral biases for road favorites are not priced into the odds as the prices set in these cases appear to be a forecast of game outcomes. Pricing as a forecast may ensure long-run viability for the sportsbook as it discourages entry into this market by informed traders and still allows the sportsbook to capture its commission on losing bets over time.     

When are Consumers Motivated to Connect with Ethical Brands? The Roles of Guilt and Moral Identity Importance

This research adds to the growing literature on what draws consumers to ethical brands. Findings from three studies demonstrate that guilt motivates consumers to connect with ethical brands, especially those consumers with high levels of moral identity importance (MII). Specifically, Study 1 finds that consumers report stronger self‐brand connections (SBCs) with an ethical brand when they feel guilty (vs. control). Study 2 finds that guilt particularly motivates consumers with high MII to report stronger SBCs with an ethical (vs. unethical) brand. In turn, these strong connections lead to increased intentions to purchase the ethical brand. Finally, Study 3 finds evidence for the proposed motivation‐based process explanation by showing that high MII consumers’ propensity to connect with ethical brands when feeling guilty (vs. control) is attenuated when these consumers are first given the opportunity to donate to a charitable cause to alleviate their guilt. Overall, the findings suggest that ethical brands can foster strong connections with and elicit higher purchase intentions from consumers seeking ways to alleviate their guilt.     

The office of strategy management

There is a disconnect in most companies between strategy formulation and strategy execution. On average, 95% of a company's employees are unaware of, or do not understand, its strategy. If employees are unaware of the strategy, they surely cannot help the organization implement it effectively. It doesn't have to be like this. For the past 15 years, the authors have studied companies that achieved performance breakthroughs by adopting the Balanced Scorecard and its associated tools to help them better communicate strategy to their employees and to guide and monitor the execution of that strategy. Some companies, of course, have achieved better, longer-lasting improvements than others. The organizations that have managed to sustain their strategic focus have typically established a new corporate-level unit to oversee all activities related to strategy: an office of strategy management (OS M). The OSM, in effect, acts as the CEO's chief of staff. It coordinates an array of tasks: communicating corporate strategy; ensuring that enterprise-level plans are translated into the plans of the various units and departments; executing strategic initiatives to deliver on the grand design; aligning employees' plans for competency development with strategic objectives; and testing and adapting the strategy to stay abreast of the competition. The OSM does not do all the work, but it facilitates the processes so that strategy is executed in an integrated fashion across the enterprise. Although the companies that Kaplan and Norton studied use the Balanced Scorecard as the framework for their strategy management systems, the authors say the lessons of the OSM are applicable even to companies that do not use it.