Housing Market Conditions, Listing Choice and MLS Market Share

In some housing markets, a seller may hire a broker to multiple list or exclusively list a property for sale or may bypass the brokerage industry and list the property privately as a "sale by owner." This article introduces a new model that illustrates the factors which will impact on the broker's and seller's preferred type of listing. An implication of the model is that if the choice is available, sellers and real estate brokers will employ a multiple listing service more often during slower market periods where the volume of sales is low and properties are more difficult to sell. An empirical analysis of Vancouver data yields results consistent with these arguments.     

Construction of a continuous utility function for a class of preferences

We construct a continuous utility indicator for a subclass of continuous preference relations, including some with thick indifference classes, using a measure theoretic technique related to that of Neuefeind (1972). This indicator is not continuous on the full class of continuous preferences endowed with the closed convergence topology. It appears that no such indicator can be constructed, although Mas-Colell (1975) has established that one exists. A finer topology for preferences seems appropriate.     

Channel member satisfaction: Controversy resolved

This study investigates the satisfaction-sources of power model of channel member behavior within an industrial channel of distribution. Specifically, the study sought to explain the controversy and inconsistencies found in previous empirical tests of the satisfaction-sources of power model. The results support previous findings that channel member satisfaction is directly related to noncoercive sources of power, and inversely related to coercive sources of power. For the first time franchisors are told what sources of power to manage to increase franchisee satisfaction. And finally, no support was found for French and Raven's classificational scheme for sources of power.     

PRICE STATISTICS REQUIRED BY DEVELOPING COUNTRIES FOR NATIONAL ACCOUNTING PURPOSES

In both developed and developing countries, the national accounting statistician who wishes to establish a composite set of values in current and base year prices is faced with a series of difficulties arising from a lack of indicators which are adequate for relating quantities and values within the national accounting framework. Consequently, ad hoc solutions are extensively adopted and use is made of price data which in the majority of cases have been collected for completely different purposes. The inter-relationship of prices, quantities and values fundamental to the compatibility of the national accounts can therefore be, and often is, a rather tenuous one. In the case of many developing countries, the situation is accentuated by a very volatile behaviour of prices, a greater impact of price change and a much greater scarcity of useable statistical material. In addition, since structural change is frequently implicit in a development process, the pattern of values and of prices is often variable and irregular—this in turn creates problems in determining relative importance, in assigning weights and in imputing for prices of items not directly entering into the calculation of the indicators.
This paper analyses the series which are most commonly available, it points out the major deficiencies or limitations and it attempts to formulate a few guide-lines for determining priorities called for in an integrated network of price statistics.     

A THREE‐STAGE IMPLEMENTATION MODEL FOR SUPPLY CHAIN COLLABORATION

Leading companies know that collaboration and creativity in supply chain (SC) relationships are critical to future competitiveness. Yet, many companies struggle to collaborate effectively. This reality raises the question: “How can managers overcome the cultural and structural impediments to SC collaboration?” Through a series of in-depth, semi-structured interviews, we identify core practices and key requirements to successful SC collaboration. Contingency and force field theories help transform our field study findings into a three-stage model for improving SC collaboration. The constant challenge of persuading other managers and companies to pursue SC collaboration highlights the need for a proven-path approach to SC collaboration.     

New Wine in Old Bottles: A Meta-Analysis of Ricardian Equivalence

A quantitative review, or meta-analysis, of 28 empirical studies of the Ricardian equivalence theorem (RET) gives persuasive testament of its falsity. Although there is great dissonance concerning the validity of Ricardian equivalence among contributors and reviewers alike, my meta-analysis reveals that the testing record, as a whole, entails a strong empirical rejection of RET. This conclusion is further strengthened by the fact that both a study's degrees of freedom and its proper econometric specification increase the likelihood of rejection. A meta-regression analysis identifies nine study characteristics that help explain the large study-to-study variation found among reported RET test results (R² = 83%).