In Support of Trigger Strategies: Experimental Evidence from Two-Person Noncooperative Games

Cooperative equilibria can be supported in a repeated game when players use trigger strategies. This paper tests how well trigger strategies explain behavior in two-person experimental games. Reducing payoffs for choices larger than the Cournot level induces smaller average outputs, behavior generally consistent with trigger strategy models. Reducing payoffs for choices well above the Cournot level will not affect behavior if actions are consistent with a trigger strategy involving longer-lived, less intense punishment phases (the grim-reaper strategy), but would matter for trigger strategies with short-lived but intense punishment phases. Results show that behavior is most consistent with the former.     

Long memory and long run variation

A commonly used defining property of long memory time series is the power law decay of the autocovariance function. Some alternative methods of deriving this property are considered, working from the alternate definition in terms of a fractional pole in the spectrum at the origin. The methods considered involve the use of (i) Fourier transforms of generalized functions, (ii) asymptotic expansions of Fourier integrals with singularities, (iii) direct evaluation using hypergeometric function algebra, and (iv) conversion to a simple gamma integral. The paper is largely pedagogical but some novel methods and results involving complete asymptotic series representations are presented. The formulae are useful in many ways, including the calculation of long run variation matrices for multivariate time series with long memory and the econometric estimation of such models.     

The commercial impact of live streaming: A systematic literature review and future research agenda

Live streaming allows streamers and viewers to watch, create, and share videos in real time on topics from gaming, shopping, and social channels to tourism and entertainment. It is distinct from earlier forms of social media in that it allows for real-time interaction and is extremely synchronous. That makes live streaming an important new area of enquiry. Yet live streaming platforms, streamers, and scholars lack an informed structure from which to build more holistic understanding and strategy. Following the theory–context–characteristics–methodology framework, we undertake a framework-based systematic literature review of 89 articles to source, review, and synthesize disparate findings in the arena of live streaming and live streaming commerce users' motivation and interactions. A dual stimulus–organism–response integrative framework is developed to further explore the characteristics of interaction and motivation factors. A future research agenda highlights areas of research focus that are critical next steps for scholars.     

Due diligence and the demand for electricity: A cautionary tale

In 1983, the Washington Public Power Supply System (WPPSS) defaulted on tax-free revenue bonds issued to construct two of its five nuclear power plants. In subsequent litigation, the plaintiffs alleged that the bonds had been fraudulently issued because WPPSS and the other defendants should reasonably have known and disclosed that there was substantial uncertainty about the ability to meet the financial obligations created by the bonds. A model using plausible values for demand elasticities, recognized probabilities of events that would increase costs and delay construction and data used by WPPSS to construct demand forecasts for prospective bondholders suggests that such uncertainty was present at the time the bonds were issued. The values for demand elasticities and other parameters of the model were selected after a thorough review of the econometric literature on demand for electricity, beginning with the work of Fisher and Kaysen in 1962.     

Examining Social Networking Sites as a Survey Distribution Channel for Hospitality and Tourism Research

As businesses use social networking sites (SNS) to connect with consumers, SNS can be viewed as another way to collect users’ information. Since many consumers spend significant amounts of time connecting with others on SNS, it would be a suitable channel to gather information from the captured audience. This study compares survey responses from the traditional paper-and-pencil survey and online survey collected through an SNS recruitment method. The test results showed that there are no statistically significant differences in model fits from the two data collection methods. Thus, this study concludes that SNS holds great potential to serve as a survey distribution channel for collecting meaningful data. More in-depth empirical studies are needed to validate the method before using it for a wider range of research.     

An Instructional Case Comparing the Accounting Policies and Financial Results of Online Retailers

In the role of financial analyst for a venture capital firm, you are assigned the responsibility of evaluating two online retailers who have applied for financing to build a distribution center in western Canada. Based on your developing knowledge of Canadian accounting standards for private enterprises (ASPE), you evaluate the financial reporting policies and financial results of the two companies to identify the company that is best suited for your firm's support. Through this case, you will refine your understanding of ASPE and you will exercise your reasoning and analytical skills.