Coordinating public utility expansion, industrial siting and pollution control: A workable dynamic programming algorithm

Many rapidly growing regions are faced with the dilemma of wanting to encourage growth in the number of industrial firms located within their boundaries so as to reap the benefits of increased employment and added tax revenue while at the same time being concerned that new industrial development will be costly in terms of air and water pollution and the services of utilities which will be required. This paper presents a procedure for choosing among the applicant firms those to be allowed to settle in the region over the horizon. This choice is made so as to maximize net social benefits over the planning period subject to the relevant air and water quality constraints. Mathematically our procedure is based on two separate dynamic programming models linked through an iterative process which avoids the computational difficulties usually associated with large scale dynamic programming formulations.     

Oil prices and world inflation

In this paper we attempt to address the nature of the causal relationships between oil prices and U.S. inflation. We use a procedure developed by Granger to assess “causality” or, more precisely stated, “informativeness.” Our results confirm that higher oil prices have increased the U.S. WPI. Our results also support OPEC's contention that their price increases have in part been a result of worldwide inflation.     

Purchasing: a necessary partnership

According to a recent survey published in Hospital Purchasing News, a Mcknight Medical Communications publication, the average hospital in the United States spent $16.7 million, not including equipment purchases, in 1994. This represents an increase of 41.6 percent over the amount spent in 1990, $11.8 million. The hospital's objective of having year-end revenues exceed expenses largely depends on the ability to purchase materiel at the best price, not necessarily the lowest cost. This goal can be achieved by partnering with suppliers and customers (hospital administrative and surgical staff, as well as patients) through open communication and trust. Reducing costs by a percent on the dollar could return $167,000 to the average hospital. Partnering can assist in achieving these savings!     

Human Resource Management and Corporate Performance in the UK

The relationship between HRM and performance was explored in 366 UK companies using objective and subjective performance measures and cross‐sectional and longitudinal data. Using objective measures of performance, greater use of HRM is associated with lower labour turnover and higher profit per employee but not higher productivity. After controlling for previous years’ performance, the association ceases to be significant. Using subjective performance estimates, there is a strong association between HRM and both productivity and financial performance. The study therefore confirms the association between HRM and performance but fails to show that HRM causes higher performance.     

Accounting for Government Activities in Australia: The State of the Budgets

More considered answers are needed in Australia to key questions about accounting for and managing the role of government. The need for such answers is highlighted by the move to negative net debt and by the underlying fragility of the economy, as well as by the financial cost of election commitments. After a discussion of relevant theoretical and empirical issues, a fiscal strategy for Australia is proposed, as a way of rebuilding the nation's diminished physical, knowledge and social capital in a framework consistent with the most rigorous demands of financial management.     

A system for rural regional development planning

The official South African systems for rural regional development planning do not allow democratic representation, are not effective and need reorganisation. The National Regional Development Programme acknowledges the dynamic nature of development planning, but the system is still trammelled by earlier misconceptions. Similarly, in rural regions the demand for regional services does not warrant regional services councils. In a new structure proposed for rural regional development planning each municipality provides all services and its boundaries are extended to include its rural hinterland. Regional services councils become regional development councils with the sole purpose of promoting social and economic development. Nongovernmental organisations and interest groups form standing committees to liaise with regional development councils. Implementation of development proposals will rest with local and higher levels of government.     

An Analysis of Data Quality: Professional Panels,Student Subject Pools,and Amazon's Mechanical Turk

Data collection using Internet-based samples has become increasingly popular in many social science disciplines, including advertising. This research examines whether one popular Internet data source, Amazon's Mechanical Turk (MTurk), is an appropriate substitute for other popular samples utilized in advertising research. Specifically, a five-sample between-subjects experiment was conducted to help researchers who utilize MTurk in advertising experiments understand the strengths and weaknesses of MTurk relative to student samples and professional panels. In comparisons across five samples, results show that the MTurk data outperformed panel data procured from two separate professional marketing research companies across various measures of data quality. The MTurk data were also compared to two different student samples, and results show the data were at least comparable in quality. While researchers may consider MTurk samples as a viable alternative to student samples when testing theory-driven outcomes, precautions should be taken to ensure the quality of data regardless of the source. Best practices for ensuring data quality are offered for advertising researchers who utilize MTurk for data collection.