Online travel information value and its influence on the continuance usage intention of social media

This study tests an empirical model formulated by extending the Triandis model to examine the structural relationships among online travel information value (OTIV), near- and long-term consequences, affect, social factors, facilitating conditions, affective community commitment (ACC), current usage, and continuance usage intention (CUI) among travel-related social media users in Korea. Data were collected through an online survey using the national panel system. A total of 403 respondents were selected based on whether they had traveled at least once within the last 12 months and used at least one social media daily. Eight hypothesized relationships out of eleven were supported. Specifically, as an antecedent of the Triandis model, OTIV had a strong effect on near- and long-term consequences and affect. In addition, the effect of ACC on CUI was stronger than that for current usage. We presented theoretical and practical implications and proposed avenues for future research.     

Too big to succeed or too big to fail?

It is often argued that smaller/younger firms are more innovative than older/larger firms—the latter may be “too big to succeed.” We show in the context of a simple industry model with consumer search frictions why evidence suggesting that smaller or younger firms are more successful at innovation may be subject to sample selection bias. Specifically, smaller more recent entrants may appear to innovate more successfully simply because unsuccessful larger incumbent firms’ size advantage enables them to survive when unsuccessful smaller ones cannot—they may be “too big to fail.”     

Microcredit in Prefamine Ireland

Hundreds of independent, local, quasi-charitable microcredit societies, or “loan funds,” were lending to as many as 20% of Irish households in the mid-19th century. Their goal was to relieve poverty by providing credit to the “industrious poor” at competitive interest rates without public funding. They successfully mitigated informational, moral hazard, and enforcement problems, and operated at a surplus in a market where intermediation by the banks seems not to have been profitable. Loan fund activity offers new insights into capital formation in the 19th-century Irish economy and challenges traditional notions regarding the economic activities of the Irish poor. They are also relevant for economists studying current microcredit initiatives.     

Institutional positioning: A dynamic concept for retailing strategy

The importance of retail image, i.e., consumers' perceptions of retail institutions, is well known to retailers and to marketers alike. The popularity of the issues surrounding the actual measurement of consumer perceptions of various stores is evidenced by the large number of studies published during the last 15 years. A review of the published research, however, teveals that this increased interest in retail image research has not been matched with an increase in methodological sophistication. The indication is that, with few exceptions, retail image research has not progressed very far in the past 10 years. The major weaknesses of the current retail image studies are discussed, and suggestions for improving the quality and usefulness of image research are outlined.     

The concept of a marketing crisis

Numerous marketing crises have gained media attention in recent years. The author examines the development of the concept of the crisis by political scientists, sociologists, and organizational theorists. Upon this base, a tentative definition for the marketing crisis is developed and a number of implications are drawn. Furthermore, the author suggests some directions for future research into the area of marketing crises.     

Long-haul and short-haul outbound all-inclusive package tours

Most long-haul and short-haul outbound travelers in Hong Kong purchase all-inclusive package tours through travel agencies. Thus, it is important for travel agencies to understand the criteria used by travelers to select package tours. This study aims to identify these criteria, and to investigate the differences between these two groups of travelers. The sample size was 200. The results show that personal safety and the guarantee of a promised departure date were the most important selection criteria for the travelers. Prospective long-haul travelers were more concerned with product features and the quality of counseling, and were less sensitive to price than were short-haul travelers.     

The Effects of Technological Change on the Economic Impact of Agricultural Drought in Manitoba

A series of physical and economic models is used to simulate the effects of drought and two drought-mitigating cropping strategies on the performance of Manitoba's agricultural sector. A drought scenario, defined in terms of the weather events of 1936–37, is compared with anormal weather scenario, consisting of the average soil moistures of 1961 to 1982. Results simulated under 1979–80 economic/technological conditions indicate that, in the absence of drought-mitigating measures, two years of drought followed by three more “normal” years (1938 to 1940 weather) result in an average annual crop revenue loss of 10%, most of which accrues in the calendar year following the year of most severe drought. Examination of two potential drought-mitigating strategies – conservation tillage in conjunction with one million acres of winter wheat, and two irrigation projects – suggests that their revenue-enhancement effects predominate. The alternative strategies would result in significantly increased gross (but not necessarily net) sales revenues over the entire simulation period, but the variance of these revenues over time would not be attenuated. Nous avons eu recours à une série de modèles physiques et économiques pour simuler les effets de la sécheresse et de deux stratégies culturales visant à réquire ces effets sur le rendement du secteur agricole du Manitoba. Un scénario de sécheresse fondé sur les conditions observées en 1936–1937 a été comparé à un scénario normal fondé sur les conditions ?humidité moyenne du sol observées de 1961 à 1982. La combinaison de ces donnés et des conditions économiques et technologiques qui existaient en 1979–1980 laissent conclure qu'en ?absence de mesures de lutte contre la sécheresse, deux années de sécheresse suivies par trois années “normales” (conditions observées de 1938 à 1940) entraînent une perte moyenne annuelle des revenus des cultures de 10%, la majeure partie de cette perte survenant au cours de ?année civile suivant immédiatement ?année de la sécheresse la plus grave. ?étude de deux stratégies possibles de lutte contre la sécheresse (méthode de travail du sol favorisant la conservation et ensemencement ?un million ?acres en blé ?hiver et deux projets ?irrigation) laisse conclure que les effets ?augmentation du revenu prédominent. Les stratégies de rechange ont laissé voir des hausses sensibles des recettes brutes (mais pas nécessairement des recettes nettes) sur ?ensemble de la période de simulation mais la variance correspondant à ces recettes n'a pas été atténuée.     

Auctions for conservation contracts: an empirical examination of Victoria's BushTender trial

The present paper proposes that markets for nature conservation on private land are missing because of the problem of asymmetric information. An auction of conservation contracts was designed to reveal hidden information needed to facilitate meaningful transactions between landholders and government. The present paper describes the key elements of auction and contract design employed and the results obtained from a pilot auction of conservation contracts run in two regions of Victoria. The pilot demonstrated that it was possible to create at least the supply side of a market for nature conservation and in conjunction with a defined budget, prices were discovered and resources allocated through contracts with landholders. The present paper compares a discriminative price auction with a hypothetical fixed-price scheme showing that an auction could offer large cost savings to governments interested in nature conservation on private land. The paper identifies some important design problems that would need to be solved before auctions could be applied more broadly including: multiple complementary outcomes, reserve prices, sequential auction design and contract design. Nevertheless, the paper does show that auctioning conservation contracts for environmental outcomes is an important new policy mechanism that deserves closer examination.     

Stochastic and nonstochastic determinants of changes in client-industry concentrations for large public-accounting firms

Market-concentration ratios of audits of large publicly held firms have been found to be high by Zeff and Fossum (1967), Rhode et al. (1974), and Campbell (1981). Both stochastic (random) forces and nonstochastic (deterministic) forces may cause increased concentration ratios. To determine the affects of stochastic forces on audit-concentration ratios, a computer simulation was developed using Gibrat's (1931) theorem. The results of the simulation indicate that the volatility of the concentration ratios may be affected by nonstochastic forces as well as by stochastic forces. The nonstochastic forces are described and discussed vis-á-vis the public-accounting profession's competitive environment.