Design and analysis of delivery ‘pipelines’ in truckload trucking

This paper examines a new dispatching alternative for the truckload trucking industry involving the use of delivery ‘pipelines’ with dense flow volumes. Drivers and loads are partitioned into two sets; those that utilize pipelines via a series of ‘dray’ moves and line-hauls, and the remaining set of random over-the-road (OTR) drivers that are dispatched by traditional methods. Alternative methods are presented to determine where delivery pipelines should be located and how they should be operated. The effects of the pipelines on the remaining OTR fleet are also examined. Results indicate that the new dispatching alternative is feasible.     

Rushing to Overpay: Modeling and Measuring the REIT Premium

We explore the questions of why Real Estate Investment Trusts (REITs) pay more for real estate than non-REIT buyers and by how much. First, we develop a search model where REITs optimally pay more for property because (1) they are willing, due to cost of capital advantages and, (2) they are occasionally rushed, due to external regulatory time constraints and internal incentives to deploy capital quickly. Second, using commercial real estate transactions, we find that the extant hedonic pricing models contain an unobserved explanatory variables bias leading to inflated estimates of the REIT premium. Third, using a repeat-sales methodology that controls for unobserved property characteristics, we derive more plausible estimates of the REIT premium. Consistent with our model, we also find the REIT-buyer premium depends on the size of the REIT advantage, the rush to deploy, and the relative presence of REITs in the market.     

Introducing a Learning Portfolio in an Undergraduate Financial Accounting Course

This paper evaluates changes made to the internal assessment component of a third year financial accounting course at a university in New Zealand. A learning portfolio was designed to supplement existing coursework. The aim was to engender in students a deep rather than a surface approach to learning. As a record of the students' learning, the learning portfolio was an attempt to produce an innovative development in the assessment of what was a traditionally taught financial accounting course. Within their learning portfolios, students were required to complete a number of tasks, each aimed at improving critical thinking skills and creativity. Students were also required to maintain a personal or reflective section aimed at personalising and deepening the quality of their learning.     

Why Companies Hire Lobbyists

A sample of those responsible in big businesses for hiring lobbyists was interviewed. ‘Propensity to hire’ depends on internal needs for services offered: on needs for access to decision-makers; for representation; and for policy advice and administrative support. Demand for services is not constant: even within one company, it is contingent on externalities. ‘Propensity to hire’ seems not to relate to corporate size. It depends on several factors: experience and capacity of corporate staff; supply side ativities by hired lobbyists (aka commercial lobbyists); the company's strategic position in the economy; expectations in their economic sector, and the challenges faced.     

Differentiating ambiguity: an expository note

Ghirardato et al. J Econ Theory 118:133–173, 2004 propose a method for distinguishing between perceived ambiguity and the decision-maker’s reaction to it. They study a general class of preferences which they refer to as invariant biseparable. This class includes CEU and MEU. This note presents some examples which illustrate their results. Research supported by ESRC grant no. RES-000-22-0650. For comments and discussion we would like to thank Klaus Nehring and a seminar audience at ESEM, Vienna 2006.     

An ecological economic simulation model for assessing fire and grazing management effects on mesquite rangelands in Texas

In the southern Great Plains of North America, fire exclusion has contributed to many rangelands converting from native grassland to woody shrublands dominated by mesquite (Prosopis glandulosa Torr.) and cactus (Opuntia spp.), threatening ecosystem health and human livelihoods in the region. Prescribed fire is the least expensive method of treating mesquite and other undesirable plants, but its role is as a maintenance treatment to prolong the life of more expensive brush control treatments. Using a simulation model of a hypothetical 1000 ha ranch, we evaluate the biological and economic implications of management scenarios involving the regular application of summer fire to reduce mesquite and cactus over a 30-year time period. We compared the model output with experimental data to corroborate model output before evaluating various management scenarios over a range of stocking rates. Scenarios included (a) varying initial range condition, (b) different frequencies of summer burning, and (c) different initial amounts of mesquite brush. Model simulations corroborated field data sufficiently well to give confidence in the output of the model. In our simulations the option of not treating to reduce brush and cactus had a major negative impact on range condition, secondary productivity and profitability. In contrast, all simulated fire treatments improved range condition, productivity and profitability except when initial range condition was poor. Initial range condition and stocking rate were the major factors affecting both productivity and profitability. Compared to other factors over which managers have short-term control, frequency of burning and the initial amount of mesquite cover, had a relatively minor impact. Simulations indicated that the highest level of profit consistent with maintaining or improving range condition was attained when individual animal production was 92-95% that of the maximum production per animal, a situation invariably associated with relatively low stocking rates.     

Enhancing financial performance by pharmacy innovation

Antecedents and consequences of customer orientation have been the subject of significant empirical investigation. Although several studies have explored employee variables as antecedents to customer orientation, work ethic has received little research attention. Additionally, there have been incongruent findings related to the effect of customer orientation on performance, as some have found it to be direct or indirect via innovation. This study explores overall work ethic as an antecedent to customer orientation and innovativeness as the missing link between customer orientation and performance among Canadian retail pharmacies. The results show support for the influence of work ethic on customer orientation, and the role of innovation as a mediating variable. This study advances the understanding of work ethic, customer orientation, innovation, and performance in Canadian retail pharmacy.     

Factors influencing divestment decision-making: Evidence from a field study

This research investigates factors which influenced the corporate-level divestment decisions of large, diversified firms. Field research, including interviews with corporate executives of 40 large diversified firms, provided the data to test propositions developed from various literature sources. In general, thefindings from this research indicate that a business unit's strength, its relationship to other units in its firm and its parent firm's financial position compared to its competitors are important divestment influences, whereas other factors such as general economic conditions are not. Some of the findings are consistent with conventional management wisdom, but others are counterintuitive.