Natural Monopoly and Yardstick Competition

There is a renaissance of interest in yardstick competition as an aid to regulators. It can work well when the only source of inter-firm cost differences is efficiency. However, when cost differences arise from other factors, yardstick competition must rely on statistical analyses which have so far not been very successful in determining the effect on distribution cost of the cost environment, scale and service quality.     

Can entrepreneurial firms benefit from product piracy?

We examine the potential benefits of product piracy to entrepreneurial firms. Specifically, we use a resource-based perspective to show that a decrease in the inimitability of an entrepreneurial firm's intellectual property does not necessarily diminish performance when piracy increases the value of this resource, and an information economics perspective to explain why and when imitation can increase the value of an intellectual property resource. This explanation reconciles empirical studies that indicate mixed results. It also expands the resource-based view by suggesting that reducing the value of one resource can directly increase the value of another.     

The ten commandments of legal risk management

Effective legal risk management is not a separate field of endeavor. Rather, it is inextricably linked with good management and with ethical management; managers who behave professionally and according to ethically defensible principles of action are quite unlikely to find themselves and their organizations stuck in a legal and/or ethical quagmire. Behavioral decision theory offers some explanations for why those managers who go astray do so, but explaining how basic human tendencies, uncorrected, may incline us to questionable decisions is not to justify such decisions. Managers who follow the guidelines set forth in this article may nonetheless find themselves or their companies under assault in the law courts or the court of public opinion, but should such an unlikely event occur, they will be far more likely to be able to successfully defend themselves.     

The Book of wheat,an economic history and practical manual of the wheat industry

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The Book of wheat, an economic history and practical manual of the wheat industryP. F. Dondlinger

     

Using current consumer issues to involve students in research

The value of involving students in research has been well documented. By including students in research, active and independent learning opportunities are provided, the importance of inquiry and investigation is emphasized, and connections between course material and the discipline become evident. Relevant opportunities for involving students in research projects can sometimes be elusive. Faculty time constraints limit the number of projects that can be undertaken and the number of students involved. Furthermore, many students become intimidated when told that they are required to carry out a research project. The purpose of this study was to use current consumer issues to involve undergraduate students in a relevant research project. The research project was implemented in class settings with teams of students. Faculty selected contemporary consumer issues based upon perceived student interest and experiences as consumers. By using issues of high relevance and familiarity to students and using the team approach within a course that faculty members were already assigned to teach, the issues of time constraint for the faculty members and increased levels of comfort for students were addressed. Prior to undertaking the project, students were instructed in appropriate research methods. Research methods utilized included student development of survey instruments, collection and recording of data, interpretation of data and presentation of results. Students became familiar with various research practices. By working as team members, the students’ comfort level for being involved in research increased; however, other common group challenges arose. Relevant, contemporary consumer issues carry high relevance and interest for student groups, helping generate enthusiasm for the research process. The focus on involving students in research continues to be emphasized. By using research topics related to student's experiences as consumers, students are more readily engaged in undertaking research projects. Through these relevant research projects, students’ consumer decision making is positively impacted.     

The effects of between‐partner congruity on consumer evaluation of co‐branded products

Branding studies, especially those focusing on brand extension, have often centered on establishing the relationship between consumer evaluation and the match between a product concept and the brand (concept congruity). This study introduces an additional type of congruity that arises in the evaluation of co‐branded products, the congruity between brand partners (between‐partner congruity). Between‐partner congruity has not previously been explicitly considered in the co‐branding literature, but is potentially an important influence on consumer perceptions of a brand partnership. Thus, this study represents an initial attempt to understand how the level of between‐partner congruity will affect consumer response to cobranded products. Several findings in the marketing literature have suggested that when respondents have the motivation to resolve incongruity, the relationship between congruity level and evaluation is nonmonotonic. In other words, moderately incongruent concepts are preferred to congruent or highly incongruent concepts to form an “inverted‐U” data function. Yet, when motivation to process is low, evaluation becomes less favorable in a linear fashion as incongruity increases. This study examines whether these findings can be extended to co‐branding. When concept congruity is controlled across brand pairs, the nonmonotonic relationship between between‐partner congruity level and product evaluation is observed when consumers are encouraged to elaborate on the rationale for the partnership (high involvement). However, when consumers attend to the global similarity of the partners (low involvement), product evaluation becomes less favorable as between‐partner incongruity increases. © 2007 Wiley Periodicals, Inc.