The role of the seven dimensions of job satisfaction in salesperson's attitudes and behaviors

To date, the majority of studies on job satisfaction use either a global measure or the JDI measure. To extend current research, this study uses the seven dimensions of job satisfaction as described by Churchill et al. [Churchill, G.A., Ford, N.M., Walker, O.C. Measuring the job satisfaction of industrial salesmen. J Mark Res 1974; 11 (3): 254-260.] to explore the relationship between job satisfaction, emotional exhaustion, organizational commitment and propensity to leave. Findings suggest that: 1) emotional exhaustion only relates to certain dimensions of job satisfaction and 2) job satisfaction dimensions related to organizational commitment and propensity to leave are not necessarily the same. Overall, this research provides an argument for the use of the seven dimension job satisfaction scale, as opposed to global measures or the JDI measure.     

Career concerns incentives: An experimental test

Holmström’s [Holmström, B., 1982/1999. Managerial incentive problems: a dynamic perspective. Review of Economic Studies 66, 169–182. Originally published in: Essays in Economics and Management in Honour of Lars Wahlbeck, Helsinki] career concerns model has become a workhorse for analyzing agency issues in many fields. The underlying signal jamming argument requires players to use information in a Bayesian way, which is difficult to directly test with field data: typically little is known about the information that individuals base their decisions on. Our laboratory experiment provides prima facie evidence: (i) the signal jamming mechanism successfully creates incentives on the labor supply side; (ii) decision errors take time to decrease; (iii) while subjects’ average beliefs are remarkably consistent with play, a mild winner’s curse arises on the labor demand side.     

The Russian Tax System and Its International Competitiveness

The last several years were very favourable to the development of the Russian economy. While this has partly been the consequence of favourable conditions on the international markets for raw materials, the economic policy of President Vladimir Putin, including the tax reforms initiated at the end of the 1990s, also played a major role. Our authors examine in detail the effects of the tax reforms to date and point out the room for further improvements under Putin’s successor, Medvedev.     

Execution quality in open‐outcry futures markets

This study examines the composition of customer order .flow and the execution quality for different types of customer orders in six futures pits of the Chicago Mercantile Exchange (CME). It is shown that off‐exchange customers frequently provide liquidity to other traders by submitting limit orders. The determinants of customers' choice between limit and market orders are examined, and it is found that higher bid—ask spreads increase the limit‐order submission frequency, and increased price volatility makes limit‐order submission less likely. Effective spreads, trading revenues, and turnaround times for customer liquidity‐demanding and limit orders are also documented. Consistent with evidence from equity markets, the results show that limit‐order traders receive better executions than traders using liquidity‐demanding orders, but incur adverse selection costs. © 2005 Wiley Periodicals, Inc. Jrl Fut Mark 25:1067–1092, 2005     

LOGISTICS MANAGERS' LEARNING ENVIRONMENTS AND FIRM PERFORMANCE

Dynamic changes in the business environment are significantly impacting supply chain logistics, resulting in unprecedented personnel demands. Organizational theorists suggest that personnel management is associated with better performance. However, relatively little is known about effective human resource practices within the logistics industry. The learning organization concept offers logistics organizations a theoretical rationale for promoting learning environments to better leverage employees' knowledge, skills, and abilities and improve performance. This research examines logistics managers' perceptions of individual level learning behavior within their organizations and its relationship to firm performance.     

A simple model of crime waves, riots, and revolutions

Standard economic models of criminal behavior analyze the criminal's decision in a partial equilibrium context. The standard model does not recognize that the probability of being punished is a function of the total amount of crime that occurs. As the total amount of crime increases, police resources become strained, courts become congested, and prisons become overcrowded. As a result, proportionately fewer criminals are apprehended, convicted, and imprisoned. The feedback effects from one criminal's decision to participate in crime to another criminal's decision can be highly significant. In one parameterization of the model developed here, the individual commits twice as many crimes for a given parameter shift than is implied by the standard model. The model also sheds light on other areas where criminal actions are interdependent such as riots, crime waves, and revolutions.     

Money and banking in a mature Walrasian economy

All financial transactions in the original Walrasian economy, as written in the édition définitive of the éléments, occur in the markets for short-term money services (the short-term bond market) and commodity E (the equity market). However, introduction of the long-term bond and the deposit markets requires only minor surgery to the original and they are now supplied, inspiring the name mature Walrasian economy. Transactions in numeraire then entail all institutions of the banking system and provide completely for money and credit. Into this economy the condition of inconvertibility, a discretionary numeraire with reserve requirements, and a central bank are introduced and clarified. Finally, multiple monetary subsystems in the same global economy are recognized and reconciled, thus establishing a global economy with a single numeraire commodity.     

Do Off‐Label Drug Practices Argue Against FDA Efficacy Requirements? A Critical Analysis of Physicians' Argumentation for Initial Efficacy Requirements

The amended Food, Drug and Cosmetics Act requires efficacy certification for a drug's initial uses (“on‐label”), but does not require certification before physicians may prescribe the drug for subsequent uses (“off‐label”). Does it make sense to require FDA efficacy certification for new drugs but not for new uses of old drugs? Using a sequential online survey, we carried on a “virtual conversation” with some 500 physicians. The survey asked whether efficacy requirements should be imposed on off‐label uses; almost all physicians said no. It asked whether the efficacy requirements for initial uses should be dropped, and most physicians said no. We then asked respondents whether opposing efficacy requirements in one case but not the other involved an inconsistency. In response, we received hundreds of written commentaries. We organize and discuss these commentaries with an eye to understanding how the medical market certifies off‐label drug uses and how this compares to FDA certification. Does off‐label medicine use suggest that efficacy requirements should be placed on new uses of old drugs? Does it suggest that efficacy requirements on new drugs should be lifted? We explore these questions, and ask whether the response of many of the doctors exhibits the familiar behavior bias toward the status quo.     

Supply response of U.K. milk producers

Short‐run own‐price response elasticities are estimated from two samples of panel data for specialist dairy farms in the Northwest and Southwest of England. Although these farms are subject to milk marketing quotas, the free tradability of quotas enables them individually to adjust the output quite rapidly. Model specifications have been chosen to test the ability of panel data to directly reveal behavioral responses without the imposition of theoretical restrictions. Significantly, the two independent samples generate quite similar results, especially in terms of supply response measures. Stable and promising estimates are obtained with simultaneous models giving higher elasticities than single equation models.