The Relationship Between Discrepancies Defined on a Domain and on its Subset

The discrepancy is an important optimality criterion for experimental designs. Sometimes for practical reasons one may choose a design on some finite subset of the original experimental domain. This article addresses the question of whether minimum discrepancy designs are the same for the discrepancy defined on the original experimental domain and the discrepancy defined on a subset. Under certain non-trivial conditions they are shown to be equivalent. Examples are given to show when these conditions apply.     

'On the side of the Angels': community involvement in the governance of neighbourhood renewal

Community involvement in regeneration is far from easy, and is difficult to define. The New Deal for Communities programme has directly involved residents in the governance of neighbourhood renewal with some success. However, community capacity has proved to be limited, adequate representation is difficult to achieve and there has been friction with local government. Community empowerment has to be enabled and supported by getting the structures and processes right, and supporting community representatives.     

Managing trade promotions in the context of market power

The use of trade promotions as a channel-programming tool has increased substantially in the past decade. In focusing on the tactical implications of trade promotions, some firms appear to have underestimated the tendency of poorly planned trade promotions to interfere with the implementation of a marketing strategy. In this article, the authors examine the complex issue of trade promotion use from both long-term and short-term perspectives. Different trade promotions can produce dissimilar types of channel cooperation, consumer responses, and postpromotion channel member behavior, resulting in differences in distribution-programming preferences between suppliers and retailers. The authors argue that the adjudication of these different preference structures is addressed through the market power of the channel participants. Based on an assessment of these channel relationships, an approach for suggested courses of action is forwarded. Jack J. Kasulis is an associate professor of marketing at the University of Oklahoma. He obtained his Ph.D. in marketing from Northwestern University in Evanston, Illinois, and has research interests in marketing channels, retailing, and consumer behavior. His articles have appeared in such journals as theJournal of Consumer Research, Journal of the Academy of Marketing Science, European Journal of Marketing, Journal of Business Research, Journal of Advertising Research, and various other journals and proceedings. Fred W. Morgan is the Ashland Professor of Marketing at the University of Kentucky. He obtained his Ph.D. in marketing from Michigan State University in East Lansing and has research interests in legal issues in marketing, sales management, and marketing channels. His articles have appeared in such journals as theJournal of Marketing, Journal of Marketing and Public Policy, Journal of the Academy of Marketing Science, Journal of Marketing Channels, and various other journals and proceedings. David E. Griffith is an associate professor and the Harvey Jones Chair of Marketing at Ouachita Baptist University. He obtained his Ph.D. in marketing from the University of Texas in Austin and has research interests in marketing channels, marketing strategy, and ethics. His research has appeared inMarketing Letters, Journal of the Academy of Marketing Science, Journal of Marketing Channels, and various other journals and proceedings. James M. Kenderdine is an associate professor and director of the Distribution Research Program at the University of Oklahoma. He obtained his D.B.A. from Indiana University in Bloomington. His research interests are in wholesaling, retailing, and marketing channels. His publications have includedThe Changing Economics of Wholesaling: A North American Chart Book, Wholesaling in Transition: An Executive Chart Book, and articles in various journals and proceedings.     

Price behavior of deep discount bonds

With rising interest rate trends, deep discount bonds are more commonly observed. The traditional view has been that, for a given yield change, the changes in bond prices are larger, the longer the maturity. This note shows that, for a deep discount bond, there is a switchover point beyond which the traditional view no longer holds. This is true for percentage as well as for dollar price changes. The traditional view should be corrected to avoid misleading effects on the management of bond portfolios.