New Pedagogy and New Content: The Case of Statistics

Statistical education now takes place in a new social context. It is influenced by a movement to reform the teaching of the mathematical sciences in general. At the same time, the changing nature of our discipline demands revised content for introductory instruction, and technology strongly influences both what we teach and how we teach. The case for substantial change in statistics instruction is built on strong synergies between content, pedagogy, and technology. Statisticians who teach beginners should become more familiar with research on teaching and learning and with changes in educational technology. The spirit of contemporary introductions to statistics should be very different from the traditional emphasis on lectures and on probability and inference.     

EQUITY VALUATION EFFECTS OF FORCED WARRANT EXERCISE

We examine stock price reactions to announced calls of in-the-money warrants and find a significant average devaluation in excess of 4 percent, consistent with the recent literature. We test theoretical predictions based on asymmetric information, agency costs, and corporate control in a cross-sectional model of announcement-period returns and find support for voting rights and ownership dilution as an explanation. We find evidence of some price recovery after the call announcement; however, further evidence of a liquidity-based explanation is mixed.     

Analyzing the Temporal Stability of Appraisal Model Coefficients: An Application of Ridge Regression Techniques

The use of multiple regression analysis as a tool of real estate valuation has received considerable attention in recent years. The primary objectives of this study are to investigate the multicollinearity among the property characteristics (regressor variables) and examine the stability of the estimated regression coefficients over time. Ridge regression techniques are used to partially adjust for the presence of collinearity. The results indicate that the ridge regression model provides a consistent set of properly signed, statistically significant regression coefficients throughout the sample period. Furthermore, ridge regression techniques are shown to have certain advantages over those of ordinary least squares for establishing logical and consistent values for specific property characteristics.     

Multiple sources in advertising appeals: When product endorsers are paid by the advertising sponsor

Previous research has shown that respondents who are exposed to multiple sources featured in an advertising appeal engage in more diligent processing of the message arguments than those who are exposed to a single message source presenting the same basic appeal. Other research has demonstrated that the persuasive advantage of an appeal can be significantly diminished when respondents perceive that the message source is motivated by the compensation received to endorse a product. Using a 2 (Single vs. Multiple Sources)×2 (Paid vs. Unpaid Source) between-subjects factorial design, subjects were shown a print advertisement for a new multivitamin food supplement. Results showed that subjects exposed to unpaid multiple sources generated significantly more positive thoughts and attitudes than those exposed to a similar number of sources who were paid to endorse the product. In contrast, subjects in the single-source conditions showed no significant differences in the number of thoughts and the strength of attitudes in response to paid versus unpaid message sources. Theoretical and managerial implications of these findings are discussed. He holds a Ph.D. from Indiana University in marketing and international business. His research in the field of advertising and persuasion focuses on attitude theory, social cognition, and emotion. His published work has appeared in theJournal of Marketing Research, Journal of Marketing, Journal of Experimental Social Psychology, Psychology & Marketing, Journal of Global Marketing, andAdvances in Consumer Research. His research and writing interests are in the area of managerial and consumer decision making. He is the author of the trade bookJudgment Calls: High Stakes Decisions in a Risky World (1993) and the textbookConsumer Behavior (1993). He is the author or co-author of more than 60 refereed articles on managerial and consumer decision making in such publications as theJournal of Marketing Research, Journal of Marketing, Decision Sciences, Journal of the Academy of Marketing Science, Journal of Public Policy and Marketing, andJournal of Personal Selling and Sales Management. He holds a Ph.D. from the University of Georgia. His research in the field of attitude and persuasion, the self-concept and social memory has appeared in a number of journals including theJournal of Personality and Social Psychology, Journal of Experimental Social Psychology, Social Cognition, Psychology & Marketing, Journal of Marketing Research, andAdvances in Consumer Research.     

Measurable triples and cardinal measurement

An axiom system is presented for a measurement structure incorporating homothetic and “Gorman polar form” weak orders as special cases. Representation theorems establish: (1) an operational method of constructing a numerical representation of such structures, and (2) that cardinal, rather than ordinal, measurement is obtained in that: (a) a class of elements is identified in the domain of the weak order which can play the same role as a yardstick in the measurement of length, and (b) the representation obtained is generally a ratio scale. Some simple special cases are also developed as are some implications for the theory of demand.