The Technology Workshops at Oundle

Psychologists have shown that knowledge can be acquired independent of practical action, by observing and imitating others and by extracting knowledge from vicarious experiences coded in text. Yet experiential learning theorists suggest that real learning takes a practical event to embody it. In schools we ask our students to learn through study. This paper examines a concept of learning in which personal experience is the base or framework for learning. Oundle Public School has a tradition of learning through technology workshops. Using the case study and narrative research traditions, the author illuminates the philosophy behind this orientation. The period of history which spawned the orientation has many parallels to the information revolution we are witnessing today. The response by the headmaster then, including the curriculum policy and implementation issues which relate to it, are central to the debates and responses which characterize curriculum change now. The philosophy that gives Oundle its reputation in technological education is visited, the lessons it imparts are reviewed. This revised version was published online in July 2006 with corrections to the Cover Date.     

(Non-)Existence of Equilibria in Multicommunity Models

This paper reconsiders equilibrium existence in models with migration and voting over local public goods. We show that under some straightforward assumptions on preferences and income distributions, the basic structure of multicommunity models (i.e., perfect mobility, majority rule, single crossing property) implies that no equilibrium with jurisdictions conducting different policies can exist. Stratification equilibria—with sorting of the population according to income classes—are therefore not as natural as is sometimes suggested. Mechanisms that can serve to support stratification (i.e., tight housing markets, returns to scale in the provision of publicly consumed goods) are discussed.     

Young tourists visiting strip clubs and paying for sex

Little is known about young adults’ use of strip clubs and prostitution during their holidays abroad. This study examined this issue with a sample of 1125 Danish tourists between the ages of 16 and 34, and sought data about the frequency with which they paid for sex and attended strip clubs while they were on holiday. The tourists were surveyed at a Bulgarian airport before their return trip home. The incidence of strip-club patronage during holiday was 48% for men and 8% for women. Of the men, 12.5% reported paying for sex during their holiday. Among the men paying for sex, 47% reported having done it for the first time. Among the men who attended strip clubs, 32% reported having done it for the first time. Strip-club patronage and paying for sex were both associated with higher levels of drinking, use of Viagra^®, and with having done the same thing before the holiday. Paying for sex was uniquely associated with non-use of condoms with one or more sexual partners. The results of this study can be interpreted as part of a wider culture of commodified debauchery, which predominates many nightlife resorts.     

East Asian Scholarly Research: A View from the 94th Floor

This article examines both applied and academic research relating to East Asia published during 1994 in terms of its applied relevance and its contributions to existing theory. In recent years the volume of research related to East Asia has expanded rapidly, and this review looks at the hightlights of that literature. Research from each of the functional business areas is examined, both in terms of its current and future contributions. In addition, special attention is paid to the areas of strategic management and entrepreneurship, which had a large amount of important research published during this period. Finally, there is an overall assessment of the impact of this research.     

The Fable of the Allegory: The Wizard of Oz in Economics

L. Frank Baum's The Wonderful Wizard of Oz has become popular as a teaching tool in economics. It has been argued that it was written as an allegory of Populist demands for a bimetallic monetary system in the late 19th century. The author argues that Baum was not sympathetic to Populist views and did not write the story as a monetary allegory.     

Dynamic Costs of the Draft

Abstract. We propose a dynamic general‐equilibrium model with human capital accumulation to evaluate the economic consequences of compulsory services (such as military draft or social work). Our analysis identifies a so far ignored dynamic cost arising from distortions in time allocation over the life cycle. We provide conservative estimates for the excess burden that arises when the government relies on forced labor rather than on income taxation to finance public expenditures. Our results suggest that eliminating the draft could produce considerable dynamic gains, both in terms of GDP and lifetime utility.     

Inference with dependent data using cluster covariance estimators

This paper presents an inference approach for dependent data in time series, spatial, and panel data applications. The method involves constructing t and Wald statistics using a cluster covariance matrix estimator (CCE). We use an approximation that takes the number of clusters/groups as fixed and the number of observations per group to be large. The resulting limiting distributions of the t and Wald statistics are standard t and F distributions where the number of groups plays the role of sample size. Using a small number of groups is analogous to ‘fixed-b’ asymptotics of [Kiefer and Vogelsang, 2002] and [Kiefer and Vogelsang, 2005] (KV) for heteroskedasticity and autocorrelation consistent inference. We provide simulation evidence that demonstrates that the procedure substantially outperforms conventional inference procedures.     

Finding Form: Looking at the Field of Organizational Aesthetics

abstract Organizational research has long focused on the instrumental sphere with its questions of efficiency and effectiveness and in recent decades there has been interest in the moral sphere with its questions of ethics. Within the last decade there has also emerged a field that draws on the aesthetic sphere of our existence in organizations. In this review we look at the field of organizational aesthetics in terms of content and method, suggesting four broad categories of organizational aesthetics research: intellectual analysis of instrumental issues, artistic form used to look at instrumental issues, intellectual analysis of aesthetic issues, and artistic form used to look at aesthetic issues. We then suggest how organizational scholars might pursue artistic aesthetic organizational research.     

Econometric evaluation of asset pricing models

In this article we provide econometric tools for the evaluationof intertemporal asset pricing models using specification-errorand volatility bounds. We formulate analog estimators of thesebounds, give conditions for consistency, and derive the limitingdistribution of these estimators. The analysis incorporatesmarket frictions such as short-sale constraints and proportionaltransactions costs. Among several applications we show how touse the methods to assess specific asset pricing models andto provide non-parametric characterizations of asset pricinganomalies.