Consumer Reaction to Nutritional Labels on Food Products

In order to design the most useful instruments of consumer protection, it is necessary to understand how consumers perceive and use such instruments. Often, basic consumer rights are considered more extensively in the design of consumer protection policies than basic patterns of consumer behavior and motivation. We are more likely to make information on labels complete as viewed by the expert than useful in the normal behavior of the consumer. This study is devoted to discovering how consumers perceive nutritional labels on food products. It draws conclusions about their meaning and usefulness to consumers.     

The Role of Qualifying Language on Consumer Perceptions of Environmental Claims

A copy-test of seven environmental claims on aerosol packages shows that consumers interpret general, unqualified claims (e.g., environmentally friendly or ozone friendly) as meaning the product is safe for the environment in both an absolute (safe) and a relative (safer) sense. These perceptions of environmental safety are enhanced by specific qualifiers for general claims such as No CFCs and general qualifiers for specific claims. In addition, the results show that almost all specific environmental claims improve consumers’ perceptions of the aerosol product relative to general claims for environmental benefits of the product. Implications for marketing and public policy professionals are presented.     

Dispersed alarm systems – a review

The increase in the number of retired, elderly and very old in society has begun to pose the problem of how to provide access to care services for those in households which are not purpose built, specially adapted and serviced accommodation. Liberalization of telecommunications in the U.K. allied to technical advances have allowed ‘dispersed alarm systems’ to be developed and thus provide a means of communication between isolated elderly people in distress and a central emergency service. The selection of an appropriate system and its management are discussed in this paper.     

Efficient Recapitalization

We analyze government interventions to recapitalize a banking sector that restricts lending to firms because of debt overhang. We find that the efficient recapitalization program injects capital against preferred stock plus warrants and conditions implementation on sufficient bank participation. Preferred stock plus warrants reduces opportunistic participation by banks that do not require recapitalization, although conditional implementation limits free riding by banks that benefit from lower credit risk because of other banks’ participation. Efficient recapitalization is profitable if the benefits of lower aggregate credit risk exceed the cost of implicit transfers to bank debt holders.     

The Impact of Open Data on Public Procurement

We examine how open procurement data affect the competitiveness of award procedures and the execution of government contracts. The European Union recently made its historical procurement notices available for bulk download in a cohesive and user-friendly database. Comparing government contracts above and below EU procurement size thresholds, we find that, after the open data initiative, procurement officials are more likely to award treated contracts through open bidding. In cross-sectional analyses, we document variation in the open bidding effect consistent with two underlying mechanisms: (1) increased scrutiny by NGOs and investigative journalists and (2) learning by national procurement regulators. However, treated contracts are also more likely to experience costly modifications because the shift to open bidding introduces rigidity that limits officials’ discretion in selecting suppliers based on private information. Overall, our evidence indicates that open procurement data promote competitive bidding but lead to contracts with weaker execution performance. These inferences also hold in an alternative open data setting.     

Factors Related to Employees’ Desire to Join and Leave Unions

Regression analyses based on a sample of 3372 nonunionized and unionized employees showed that, while the desire to join a union is associated with a wide range of work attitudes, perceived company performance, and facets of satisfaction, one's desire to leave one's union is associated with a narrow range of economic concerns. Implications of the findings are discussed in light of the declining unionization rate in the United States.     

CO‐MOVEMENT OF AUSTRALIAN STATE BUSINESS CYCLES*

We use a variety of techniques to examine the nature and degree of co‐movement among Australian state business cycles. Consistent with the results of Dixon and Shepherd (2001 ), we find that these cycles move quite closely together, with particularly strong links between the cycles of the larger states. We then seek to understand the causes of this co‐movement by using an unobserved components model to distinguish between various shocks and their transmission. Our model implies that the major source of this co‐movement in state activity is the commonality of shocks affecting state cycles. In contrast, spillovers of region‐specific shocks appear to play only a minor role in creating co‐movement, though region‐specific shocks themselves have a moderate influence on cyclical fluctuations. These findings are consistent with the results of recent studies for the United States, Canada and Europe, where common shocks have also been found to dominate regional cyclical activity.