Returns to public sector plant breeding in the presence of spill‐ins and private goods: the case of bean research in Michigan

This article illustrates a methodology for assessing economic returns to a publicly funded breeding program in the presence of private sector investments, and spill‐ins from other contemporary public institutions and past research efforts. The approach consists of determining yield gains from bean improvement research; applying these yield gain estimates to measure benefits attributable to different institutional players and time periods; and then assessing the benefit‐cost ratios of investments in a bean improvement program since 1980 by Michigan State University (MSU). The results indicate that investments in MSU's bean breeding program have yielded benefits to costs ratio in the range of 0.7 to 2.2, depending on the attribution rule used to estimate the benefits. The estimated benefit/cost ratios reported in this study are lower‐bound estimates, as they do not account for potential benefits from area planted to MSU varieties outside of Michigan (spillover effects), which was 1.5 times greater than the area planted to MSU‐bred varieties within Michigan in the period 1998–2002. The implications of the increasingly privatized bean seed markets for the role of public sector research in bean improvement research are discussed.     

Privacy Regulation and Market Structure

This paper models how regulatory attempts to protect the privacy of consumers' data affect the competitive structure of data‐intensive industries. Our results suggest that the commonly used consent‐based approach may disproportionately benefit firms that offer a larger scope of services. Therefore, though privacy regulation imposes costs on all firms, it is small firms and new firms that are most adversely affected. We then show that this negative effect will be particularly severe for goods where the price mechanism does not mediate the effect, such as the advertising‐supported Internet.     

‘The Business of Ethics and Gender’

Unethical decision-making behavior within organizations has received increasing attention over the past ten years. As a result, a plethora of studies have examined the relationship between gender and business ethics. However, these studies report conflicting results as to whether or not men and women differ with regards to business ethics. In this article, we propose that gender identity theory [Spence: 1993, Journal of Personality and Social Psychology 64, 624–635], provides both the theory and empirical measures to explore the influence of psychological gender traits and gender-role attitudes on ethical perceptions of workplace behaviors. Statistical analyses of the data reveal that based on sex alone, no differences occur between men and women in their ethical perceptions. Yet, when a multidimensional approach to gender is applied, results show that expressive traits and egalitarian gender-role attitudes contribute to both men’s and women’s propensity to perceive unethical workplace behaviors as unethical. The implications of these findings and suggestions for future research are presented.     

Attributes affecting the level of tourist satisfaction with and loyalty towards theatrical performance in China: Evidence from a qualitative study

This study seeks to explore attributes affecting the level of tourist satisfaction with and loyalty towards theatrical performance in China. Based on four focus group discussions with 31 participants, the study identifies 34 attributes that affect the level of tourist satisfaction with theatrical performance, and groups them into five categories: stage, performance, venue, service and tourist‐related attributes. The findings on tourist loyalty reveal that 21 of the 31 respondents would not watch the same theatrical performance alone in the future; however, they would recommend it to others. The study concludes with a discussion of the rich and insightful findings and their implications for tourism industry practitioners. Copyright © 2010 John Wiley & Sons, Ltd.     

Coordinating on lower prices: pharmaceutical pricing under political pressure

We investigate the effects of political activity on pharmaceutical prices, focusing on the health care reform period in the early 1990s.We characterize firms based on their vulnerability to future price regulation and find that the more vulnerable firms were more likely to take various actions to forestall regulation, most notably coordinating on a specific percentage price increase during 1993. Since moderating price increases could have averted regulation, the coordination appears to be the industry's response to a collective action problem.     

Biofuels and Land Use Change: Sugarcane and Soybean Acreage Response in Brazil

Scientists and economists are increasingly worried that biofuels production is leading to land use changes in the form of competition with food crops or loss of natural ecosystems. I estimate acreage conversion in response to shocks in sugarcane (a biofuels feedstock) and soybean (thought to be affected by United States corn ethanol production) prices in Brazil at a national and regional level. Using county-level data from 1973 to 2005, I consider a dynamic panel data model of input demand for agricultural land, conditioning on price changes of other commodities. The short-run crop-price elasticity of sugarcane acreage in Brazil is estimated to be approximately zero, whereas the elasticity of soybean acreage is 0.9 when both spot and futures prices change. The regional estimates for soybeans show considerable variation, and are highest in areas of ecological importance, such as the cerrado. Sugarcane estimates are more homogeneous. These results should be taken into account in impact assessments of biofuels.     

Impacts of timeshare operation on publicly traded U.S. hotels’ firm value,risk and accounting performance

With 1615 timeshare resorts and 176,232 units in the U.S. in 2006 and making an economic impact of approximately $92 billion on the U.S. economy in 2005, the timeshare industry has proved as one of the fastest growing segments of the hospitality and travel industry. However, little research has investigated the impacts of timeshare operations on lodging firms’ financial issues. The main purpose of this study is to investigate the impact of timeshare operation on lodging firm's financial value, risk and accounting performance. Findings suggest that the existence of an inverted U-shaped relationship between timeshare operation and lodging firm value; however timeshare operation shows a U-shaped relationship with ROE and no relationship with risk.