TOWARD BRIDGING THE GAP BETWEEN THEORY AND EMPIRICAL REALITY

Introductory (i.e. first year) undergraduate learners often perceive economics to be remote from reality and overly theoretical, leading to a lack of motivation and enthusiasm to study economics. A general survey of curriculum practice reveals that lecture materials and the pedagogic approach to teaching introductory economics often do not place the current “mainstream” economic theory into its philosophical context. The result being that the learners are unable to bridge the gap between abstract economic theory and empirical reality. This paper argues that research into effective teaching and learning should focus not only on learner characteristics but also on curriculum content and its philosophical underpinnings, in order to research why students hold these negative perceptions. The paper recommends that introductory undergraduate teaching needs to engage in a critical examination, with the learner, of the philosophical underpinnings of “mainstream” economic theory and to introduce debates about the implications of these into the curriculum. This would create exciting new opportunities for teachers and learners to explore the connections between economic theory and social science in general and should come a long way in changing the negative perceptions of introductory undergraduate economics.     

Digital gaming culture in Vietnam: an exploratory study

ABSTRACT

New information and communication technologies continue to spread rapidly into the Asian marketplace, which has led to new patterns of leisure consumption, one of the most popular being digital gaming. However, in Vietnam there is limited research on gaming as a leisure activity. The purpose of this study is to explore the phenomenon of digital gaming in Vietnam to better understand how it is practiced in this culture. Semi-structured interviews were conducted with twenty-five gaming industry figures and gamers. Thematic analysis was used to guide data collection and analysis. The findings indicate that glocalisation, socialised gaming practices and competitiveness characterise the Vietnamese gaming experience. The distinct culture of Vietnam combined with globalised gaming consumption habits has created new modes of play culture, and hence leisure experiences that are growing in pervasive and influential ways.     

TECHNICAL CHANGE IN PRODUCTION PROCESSES OF THE SEQUENTIAL INTERINDUSTRY MODEL

Transient processes important to understanding technical change are modeled using a time-varying version of the Sequential Interindustry Model, SIM. A simple process of technical change is explored, where a new production technique replaces an old one for one of an industry's production processes. Using several measures internal and external to the industry the model can help in understanding the complex processes of technical change, point to difficulties in their analysis, and suggest guidance to further examinations. An earlier version of this paper was presented at the Eighth International Conference on Input-Output Techniques, Sapporo, Japan, July 1986.     

Chefs and suppliers: An exploratory look at supply chain issues in an upscale restaurant alliance

This paper examines some basic issues associated with supply chains in the context of acquiring local ingredients as part of producing a culinary tourism experience. Based on data collected from Executive Chefs at Relais & Châteaux restaurants through surveys and personal interviews, the authors document producer-to-chef relationships, why and how local ingredients are featured in menu listings, and how chefs communicate their use of local ingredients to their guests. The results also describe chefs’ beliefs about the use of local ingredients, as well as potential issues related to the use of suppliers and their perceptions of their guests’ expectations for their meals.     

Towards sustainable tourism planning in New Zealand: Monitoring local government planning under the Resource Management Act

In the light of the increasing pace and scale of tourism activity in New Zealand, the concept of sustainable tourism has become a key ingredient in the nation's tourism strategy. This paper explores sustainable tourism planning in New Zealand at the level of local government, and in particular, focuses on the implementation of the Resource Management Act 1991 (RMA) as a mechanism for achieving sustainable tourism. Using the findings of a survey of Regional Councils and Territorial Local Authorities, the paper explores public sector planning responses to tourism impacts and sustainability concerns in New Zealand. The paper extends the earlier work of Page and Thorn (1997. Towards sustainable tourism planning in New Zealand: public sector planning responses. Journal of Sustainable Tourism 5(1): 59-77; 2002. Towards sustainable tourism development and planning in New Zealand: the public sector response revisited. Journal of Sustainable Tourism 10(3): 222-238), which identified major issues of concern at local council level with regard to tourism impacts and argued the need for a national vision for tourism to ensure that the RMA achieved its original goals. Since then, a national tourism strategy has been published and changes in legislation have further empowered local authorities to further progress the sustainability agenda. This paper examines these developments and the ensuing implications, concluding that significant progress has been made in developing tourism policies at the local level, but that a number of constraints and issues limit the development of New Zealand as a sustainable destination.     

Aspiration level effects: An empirical investigation

Theories of aspiration level effects predict that decisions under uncertainty will depend on whether performance is above or below some target level of performance. A sample of 5000 quarterly earnings announcements by publicity held companies listed on the COMPUSTAT and CRSP data bases is examined to test this hypothesis. Four models from the current accounting literature are used as alternative estimates of the target level of earnings for these firms. When earnings are announced the difference between actual and forecast earnings, here called a forecast error, can be computed. The data indicate that the relationship between valuation and forecast error differs conditional on the sign of the forecast error.     

Factors influencing customer engagement with branded content in the social network sites of integrated resorts

The integrated resorts rely on social network sites (SNSs) for content marketing, while one of the main purposes of content marketing is customer engagement that will leverage the impact of branded content. This study investigates the factors influencing customer engagement with brand posts of integrated resorts on the SNSs. The findings highlight the important influence of both media-type and content-type factors on the level of customer engagement in SNSs of integrated resorts. This study provides practical implications for integrated resorts to develop SNS online content marketing strategy.     

Impact of financial/economic crisis on demand for hotel rooms in Hong Kong

The main objectives of this study are (1) to identify the factors that influence the demand for hotel rooms in Hong Kong and (2) to generate quarterly forecasts of that demand to assess the impact of the ongoing financial/economic crisis. The demand for four types of hotel room from the residents of nine major origin countries is considered, and forecasts are generated from the first quarter of 2009 to the fourth quarter of 2015. Econometric approaches are employed to calculate the demand elasticities and their corresponding confidence intervals, which are then used to generate interval demand predictions. The empirical results reveal that the most important factors in determining the demand for hotel rooms in Hong Kong are the economic conditions (measured by income level) in the origin markets, the price of the hotel rooms and the ‘word of mouth’ effect. Demand for High Tariff A and Medium Tariff hotel rooms is estimated to have experienced negative annual growth in 2009 due to the influence of the financial/economic crisis, whereas that for High Tariff B hotel rooms is thought to have grown in 2009 after having decreased in 2008. The demand for tourist guesthouse rooms is expected to be the least affected by the crisis. Overall demand is predicted to recover gradually from 2010 onwards.