Urban Regulations and the Price of Land and Housing in Korea

South Korea is a remarkable macroeconomic success story, but it has performed relatively poorly in one respect: the provision of high quality housing at reasonable prices. This paper analyzes the Korean housing market and the market for related inputs, with special emphasis on the regulatory environment.     

美国房地产泡沫的崩盘:全球经济的魔鬼?

美国的房地产投机泡沫正在破裂。这种转变将通过多种途径影响到美国经济:建筑业下滑将使美国经济增长率减少约1．5个百分点,而财富效应的逆转会造成约0．5个百分点的影响。加之其他因素．房地产泡沫破裂将使美国经济增长率降低2．0个百分点以上。而对于失衡的全球经济而言．美国房地产泡沫的破裂将会造成很大影响。     

Compensation, Incentives, and the Duality of Risk Aversion and Riskiness

The common folklore that giving options to agents will make them more willing to take risks is false. In fact, no incentive schedule will make all expected utility maximizers more or less risk averse. This paper finds simple, intuitive, necessary and sufficient conditions under which incentive schedules make agents more or less risk averse. The paper uses these to examine the incentive effects of some common structures such as puts and calls, and it briefly explores the duality between a fee schedule that makes an agent more or less risk averse, and gambles that increase or decrease risk.     

The newly industrializing countries,trade, and adjustment in the OECD economies

There has been much discussion of the Newly Industrializing Countries (NICs) in recent years and various studies of their impact have been made. Much of the concern about NICs in the industrialized countries is however based on what they portend for the future rather than their present impact. This article, which draws on the work of a group of researchers coordinated from the Royal Institute of International Affairs, London, discusses the implications of the NICs for trade and adjustment in the 1980s.     

SUBSTITUTION BETWEEN WOOLS OF DIFFERENT FIBRE DIAMETER1

The extent to which wools with different fibre characteristics can be substituted in textile production and consumption holds implications for Australia's international and domestic marketing policies. An analysis of price-induced substitution between Australian wools of different fibre diameters was conducted. Fibre diameter was used to parameterise cross-price relationships in order to estimate a system of demand equations for wools by diameter class. The results indicate that direct substitution takes place within a very limited range of fibre diameters. The use of product characteristics to parameterise price relationships may be extended to other graded commodities.     

Digital gaming culture in Vietnam: an exploratory study

ABSTRACT

New information and communication technologies continue to spread rapidly into the Asian marketplace, which has led to new patterns of leisure consumption, one of the most popular being digital gaming. However, in Vietnam there is limited research on gaming as a leisure activity. The purpose of this study is to explore the phenomenon of digital gaming in Vietnam to better understand how it is practiced in this culture. Semi-structured interviews were conducted with twenty-five gaming industry figures and gamers. Thematic analysis was used to guide data collection and analysis. The findings indicate that glocalisation, socialised gaming practices and competitiveness characterise the Vietnamese gaming experience. The distinct culture of Vietnam combined with globalised gaming consumption habits has created new modes of play culture, and hence leisure experiences that are growing in pervasive and influential ways.     

TECHNICAL CHANGE IN PRODUCTION PROCESSES OF THE SEQUENTIAL INTERINDUSTRY MODEL

Transient processes important to understanding technical change are modeled using a time-varying version of the Sequential Interindustry Model, SIM. A simple process of technical change is explored, where a new production technique replaces an old one for one of an industry's production processes. Using several measures internal and external to the industry the model can help in understanding the complex processes of technical change, point to difficulties in their analysis, and suggest guidance to further examinations. An earlier version of this paper was presented at the Eighth International Conference on Input-Output Techniques, Sapporo, Japan, July 1986.     

Chefs and suppliers: An exploratory look at supply chain issues in an upscale restaurant alliance

This paper examines some basic issues associated with supply chains in the context of acquiring local ingredients as part of producing a culinary tourism experience. Based on data collected from Executive Chefs at Relais & Châteaux restaurants through surveys and personal interviews, the authors document producer-to-chef relationships, why and how local ingredients are featured in menu listings, and how chefs communicate their use of local ingredients to their guests. The results also describe chefs’ beliefs about the use of local ingredients, as well as potential issues related to the use of suppliers and their perceptions of their guests’ expectations for their meals.