Ghana's agricultural food policy: Operation feed yourself

Prompted by food shortages, the newly ensconced Ghanaian military regime in 1972 initiated ‘Operation Feed Yourself’, a national programme directed at increased production of food crops. The authors attempt to determine how effective Operation Feed Yourself has been in attaining its goals. The bureaucracy which was set in place to implement the programme is assessed. Building on personal interviews conducted in Ghana with persons responsible for and affected by it, the authors discuss the successes and shortcomings of Operation Feed Yourself and suggest areas in which improvement might be made.     

Defining airline compatible luggage

The airline and luggage industries hold widely different views about which party should bear responsibility for checked luggage (baggage) damaged during transport. The problem is compounded by the fact that there currently is no uniformly accepted definition of or standards for airline compatible luggage. While much attention has been given to the carry-on baggage issue, many feel that the problems surrounding checked baggage are at the heart of the matter. This case study outlines the attempts of both industries to address the issue of performance standards for airline compatible luggage.     

Opportunity Cost for Free Allocations of Emissions Permits: An Experimental Analysis

An important feature of emissions trading is how emissions permits are allocated. The choice between an auction and free allocation should not influence firms’ production choices nor consumer prices according to economic theory. However, many parties expect the method of allocation to affect product prices. This paper describes an experimental investigation into price determination under a cap-and-trade program with different allocation methods. Participants initially display diverse pricing strategies. However, given a simple economic setting in which earnings depend on behavior, we find that subjects learn to consider the opportunity cost of permits and overall behavior moves toward the economic prediction.     

Risky arbitrage,asset prices,and externalities

We introduce a no-risky-arbitrage price condition (NRAP) for asset market models allowing both unbounded short sales and externalities such as trading volume. We then demonstrate that NRAP is sufficient for the existence of competitive equilibrium in the presence of externalities. Moreover, we show that if all risky arbitrages are utility increasing, then NRAP characterizes competitive equilibrium in the presence of externalities. We are indebted to an anonymous referee for helpful comments on an earlier version of this paper. Page and Wooders are especially grateful to CERMSEM and EUREQua for their support and hospitality which made possible our collaboration.     

Vertical performance management: Strategic implications for financial service

This paper examines the relationship between productivity and customer satisfaction in marketing consumer services. It presents a conceptual framework that highlights four dimensions of productivity measurement: capacity, perceived quality, profitability, and satisfaction. One of the more distinctive aspects of this presentation is its analysis of productivity from the dual perspectives of both the customer and the service provider. A preliminary formulation of the productivity model emphasizes the high degree of interaction between the evaluation of performance from these two perspectives. A recent service innovation in the area of electronic funds transfer illustrates this framework.