HOUSING, SPRAWL, AND THE USE OF DEVELOPMENT IMPACT FEES: THE CASE OF THE INLAND EMPIRE

This article is concerned with the economics of excessively large and socially costly suburban expansion and attempts to summarize and organize the main economic arguments associated with sprawl due to single-family residential home construction. We also apply standard welfare economics and price policy instruments to the issue of suburban sprawl in order to suggest ways in which economics can participate in and inform the debate over sprawl. The article uses the Inland Empire, which includes the valley regions of San Bernardino and Riverside Counties in Southern California east of Los Angeles, as a case study. ( JEL R11, R14, Q24)     

Less restrictive trade in textiles and apparel: a position paper

This is a position paper * * The graduate fellow author developed this paper in response to the following assignment: For this assignment, you are to assume that your paper is a briefing paper for a new U.S. textile negotiator who has had a limited amount of experience in working with the textile sector. The new negotiator must be prepared by various constituencies to represent their respective positions adequately and fairiy as bilateral agreements and other trade policies are negotiated. Thus, it is quite important to have your position articulated thoroughly and effectively; the ultimate survival and success of the interests you represent are at stake. For this paper, each student is expected to analyse and articulate the complexities involved in balancing economic, political, and social concerns for this key sector. Professor K. G. Dickerson assisted in developing the paper for publication.
which advocates textile and apparel trade with fewer restrictions. The paper evaluates the advantages and disadvantages of protectionist legislation for the textile sector; also considered are the position of the consumer, and the economy more broadly. Proposed U.S. textile legislation is evaluated in the context of the current political climate, both nationally and internationally. When all factors are considered, the casts of protectionism may exceed the benefits, perhaps even for the industry.     

THE IDENTIFICATION OF TARGET FIRMS AND FUNCTIONAL AREAS FOR STRATEGIC BENCHMARKING

In recent years there has been an increased emphasis on quality, Total Quality Management (TQM), and re-engineering. The practice of benchmarking is inherent to the success of any of these. Despite its obvious strategic implications, benchmarking has received little theoretical or analytical attention in the literature. Moreover, studies show that many firms are unsure about how to implement the benchmarking process. A critical aspect of benchmarking is the identification of who to benchmark against and what functional areas to benchmark. In this paper we show that Data Envelopment Analysis (DEA) can provide a structured methodology which, when used in conjunction with expert/managerial insight, can be a useful toot for providing necessary analytic support for the managerial practice of benchmarking. DEA uses multiple input and multiple output measures to assess efficiency. In this paper we first use DEA analysis to identify a subset of efficient firms which could be targeted for benchmarking. In a second stage, a constrained least absolute value (goal programming) method is used to ascertain input elasticities for the designated efficient firms in order to pinpoint important specific areas for benchmarking comparisons. We use macro-level data from the computer industry to illustrate this application of DEA and constrained least absolute value regression to benchmarking.     

Dividend Taxes and Implied Cost of Equity Capital

We estimate firm‐level implied cost of equity capital based on recent advances in accounting and finance research and examine the effect of dividend taxes on the cost of equity capital. We investigate whether dividend taxes affect firms' cost of capital by testing the relation between the implied cost of equity capital and a measure of the tax‐penalized portion of dividend yield, which we define as the product of dividend yield and the dividend tax penalty. The results generally support the dividend tax capitalization hypothesis. We find a positive relation between the implied cost of equity capital and the tax‐penalized portion of dividend yield that is decreasing in aggregate institutional ownership, our proxy for tax‐advantaged investors. The evidence in this study adds to the understanding of the effect of investor‐level taxes on equity value.     

Economic Factors Which Influence Consumer Search for Price Information

An ordinary least squares model was developed depicting relationships between four economic factors and search effort prior to purchase. The model was examined using data provided by a sample of 166 couples who had purchased an automobile or one of eight durable goods. Wife's education and relative size of expenditure were found to be positively associated with search effort. Policy implications of the research findings are noted for designers of consumer information programs.     

The Role of Arbitrator Uncertainty in Negotiation Impasses

This article utilizes a unique data set to explore whether uncertainty about arbitration influences the likelihood that negotiators will use it. We use experimental data on decisions made by arbitrators in hypothetical scenarios to calculate a measure of uncertainty for each arbitrator. These data are matched to field data on contract negotiations involving this same set of arbitrators. We find that the greater the uncertainty about the arbitrator, the lower the probability of impasse.     

Determination or appropriate content for a clothing and textiles specialized course

A survey of teachers, parents and students was conducted to determine appropriate content for a semester course in clothing and textiles. A review of literature including research, curriculum guides, projections of future trends in clothing and textiles and knowledge needs of consumers served as the basis for developing the instrument. The initial list of topics identified was reduced to 13 major topics and 66 specific items by a panel of eight experts. The instrument was used to survey 1200 teachers, parents and students. A total of 327 surveys were returned. Respondents were varied on most demographic characteristics identified. Results were analysed to determine the significance of differences between the responses of the three groups. Respondents indicated that no more than Homemaking I should be required as a prerequisite for a clothing and textiles semester course and that simple clothing construction skills should be included. The overall rankings of the 13 major topics was: wardrobe planning, clothing selection, clothing construction, buying clothing, clothing care, clothing alterations, sewing tools and equipment, effects of clothing on individuals, design in clothing, textiles, family clothing, influences on fashion, clothing and textiles careers. Significant differences between groups existed for mean importance scores of 36 of the 66 specific topics. Teachers' mean importance scores differed from those of parents and/or students on 33 topics. Recommendations for content of a clothing and textiles semester course were based on the findings.