Equivalence of central place and economic base theories of urban growth

Economic base theory is discredited as a theory of urban growth; central place theory, although receiving some criticism, continues to enjoy some acclaim. In this paper I show that these two theories are equivalent so that previous criticisms of base theory also apply to central place theory. None-theless, the market expansion in both theories can lead to productivity increases because “the division of labor is limited by the extent of the market.”     

Research notes on socioeconomic siting dynamics

The inclusion of socioeconomic considerations in the process of industrial location/siting analysis has received limited attention in recent years. More commonly the social and economic impacts associated with the construction and operation of a major project emerge only after a prime site has been selected. This result serves to characteristically delimit advance socioeconomic planning and prevents a full and complete examination of relative cost-benefit alternatives. Impacted communities and the mitigation problems they pose can be insurmountable when addressed after the fact.This article will discuss a strategy for socioeconomic inputs to project siting and outline a model that has been utilized for the purpose of instigating potential socioeconomic impacts at the earliest possible stage within the industrial location siting process.     

A multilevel modelling approach to triple-bounded dichotomous choice contingent valuation

The use of dichotomous choice (DC) questions in the elicitation of willingness to pay (WTP) in contingent valuation studies is common practice at the present time. Recent research has shown that double-bounded DC questions provide statistically superior results to single-bounded questions, given an appropriate sampling design. This paper uses a relatively new multilevel modelling technique to analyze a triple-bounded DC design, which in addition includes an initial non-monetary question on whether an individual accepts, in principle, a WTP some unspecified amount. The theoretical basis of the multilevel model used is described, and some of the possibilities of this potentially powerful and versatile technique are discussed. The practical operation of the multilevel model is demonstrated using data from a contingent valuation study conducted in the Norfolk Broads, England, an internationally important wetland resource.     

Secondary cancer and relapse rates following radical prostatectomy for prostate-confined cancer

In the SEER database, it is relatively easy to identify secondary cancers that follow an initial diagnosis of cancer. However, the SEER public-use data does not explicitly capture relapse of the initial cancer. One can assume that organ-confined prostate cancer treated by radical prostatectomy will show no evidence of disease after treatment. Death due to prostate cancer in such cases can be assumed to follow a relapse of previously occult metastatic disease. We devised an estimate of the timing of these relapses and tabulated rates for both new primaries and relapses following radical prostatectomy for organ-confined prostate cancer.     

Pivot tables for mortality analysis, or who needs life tables anyway?

Actuarial life-table analysis has long been used by life insurance medical directors for mortality abstraction from clinical studies. Ironically, today's life actuary instead uses pivot tables to analyze mortality. Pivot tables (a feature/function in MS Excel) collapse various dimensions of data that were previously arranged in an "experience study" format. Summary statistics such as actual deaths, actual and expected mortality (usually measured in dollars), and calculated results such as actual to expected ratios, are then displayed in a 2-dimensional grid. The same analytic process, excluding the dollar focus, can be used for clinical mortality studies. For raw survival data, especially large datasets, this combination of experience study data and pivot tables has clear advantages over life-table analysis in both accuracy and flexibility. Using the SEER breast cancer data, we compare the results of life-table analysis and pivot-table analysis.     

Twin deficits: new evidence from a developing (oil vs. non-oil) countries’ perspective

We test the relationship between the current account and fiscal policy for a group of small open developing economies with fixed exchange rates some of which are oil exporters. Specifically, we test the viewpoint of a Ricardian infinite-horizon representative agent model in which lower public savings are met by equal increases in private savings, and as a result the current account does not respond to the changes in government spending, against a Keynesian’s conventional viewpoint in which a fall in public savings has an adverse effect on the current account balance. Unlike the evidence from flexible exchange rate economies provided by many authors such as Rosensweig and Tallman (Econ Inq 31(4):580–594, 1993), Erceg et al. (Int Finance 8(3):363–397, 2005) and Saleh et al. (South Asia Econ J 6(2):221–239, 2005), the evidence from a panel data analysis and Granger-causality test of these fixed exchange-based countries supports the conventional theory of positive relationship between fiscal and external balances, with causality running from the former to the latter, in oil countries, whereas it supports the Ricardian view for non-oil countries.     

Regulation of Insurance Markets

There have been major changes in the way European insurance markets are regulated, and there is still considerable debate about what the form and scope of regulation should be. This article examines the arguments for solvency regulation when consumers are fully informed of the insurer's insolvency risk. It is shown firms always provide enough capital to ensure solvency, unless there are restrictions on the composition of their asset portfolios. The conclusion holds even when competition means that only normal profits can be earned. This suggests that the role of regulation in insurance markets should be confined to providing consumers with information about the default risk of insurers.