Empirical properties of duality theory

This research examines selected empirical properties of duality relationships. Monte Carlo experiments indicate that Hessian matrices estimated from the normalised unrestricted profit, restricted profit and production functions yield conflicting results in the presence of measurement error and low relative price variability. In particular, small amounts of measurement error in quantity variables can translate into large errors in uncompensated estimates calculated via restricted and unrestricted profit and production functions. These results emphasise the need for high quality data when estimating empirical models in order to accurately determine dual relationships implied by economic theory.     

A taxonomy of marketing planning styles

This study examines marketing planning styles among a sample of organizations in the health care industry. A taxonomy of marketing planning styles—limited marketing planners, constituency-oriented marketing planners, and comprehensive marketing planners—is derived and then related to the literature on planning. Differences among the marketing planning styles are tested based on hypotheses relating to planning comprehensiveness. The results suggest that: (i) marketing planning styles differ fairly distinctly in their attention to selected elements of the environment; and (ii) the marketing planning style employed is related to the level of competition and to organization size and complexity.     

The Incidence of Taxes on Casino Gambling: Exploiting the Tired and Poor

A bstract . The equity of taxes on casino gambling in Las Vegas and Atlantic City using recent survey data is examined. Daniel B. Suits (1977) study of the tax on casino gambling concluded that the tax was progressive when he used a national sample to estimate tax incidence. This result is challenged. Tax incidence is estimated using survey data obtained from people who either live in or have traveled to Las Vegas or Atlantic City. On the basis of the sample of people who have given themselves access to casino gambling , the tax is regressive; in fact, it is extremely regressive in Las Vegas. Therefore, in this time of easier access to casino gambling, policy-makers should be aware that the taxes on casino gambling place a proportionately heavier burden on low income groups.     

On Weitzman's ‘recession resistant’ employee compensation arrangements

This note presents a slight modification of the alternative pay systems discussed by Weitzman (1983). The modification preserves the recession resistance property, yet guarantees that the workers already in the firm, will not become worse off by the conversion to the new pay system even when no other firm converts to it.     

TAX POLICIES TO INCREASE FARM PRICES AND INCOME: A QUANTITATIVE SIMULATION

In previous periods when agricultural production was large relative to demand in North America, supply control through limitations in production and markets has been used. Large cropfalls and mammoth international purchases by the USSR during the early 1970s depleted North American grain stocks and caused major supply control programs to vanish. With more favorable worldwide weather, however, grain production and carryover have increased to levels where farmers may demand supply and market controls to improve prices and income. In contrast to conventional models, we make a quantitative analysis for the United States to three tax policies which might be used to restrain production and improve prices and farm income. All tax alternatives do so if the taxes collected by the government are returned to farmers. The tax alternatives examined include a tax on inputs, a gross sales tax, and a tax-in-kind similar to a share rent. The tax policies are applied through an econometric simulation model. Certain limitations of the tax policies are explained. Aux époques antérieures, lorsque la production agricole était grande compareée à la demande dans l'Amérique du Nord, on a contrôlé les stocks de réserve par moyen de limitations de production et de vente. Les récoltes inférieures et les énormes achats par l'URSS pendant la premiére partie des années 70 ont diminué les réserves des céréales de l'Amérique du Nord, ce qui a rendu superflus les programmes majeurs de contrôle. Toutefois, un climat global favorable a augmenté la production et l'accumulation jusqu'au point oú les agriculteurs peuvent considérer nécessaires des contrôles sur la production et la vente afin d'améliorer les prix et leurs revenus. Faisant contraste avec les modéles conventionnels, nous présentons une analyse quantitative pour les Etats-Unis de trois systémes d'impôts qui pourraient etre appliqués pour diminuer la production et pour améliorer les prix et les revenus agricoles. Tous les trois systémes sont effectifs à ce but, pourvu que les impôts perçus par le gouvernement soient rendus aux producteurs. Les alternatifs examinés comprennent un impôt sur les frais de production, un impôt en gros sur les ventes et un systéme d'impôts payables par une quantité des céréales produites, semblable au métayage. Les systémes sont appliqués par moyen d'un modéle de simulation économétrique. Certaines limitations des systémes sont presentées.     

COMPARATIVE ANALYSIS OF FARM ACCOUNTS

With the development of farm management extension services in Australia, a need has arisen for an analytical technique which can be handled by extension officers and readily comprehended by farmers. Inter farm comparison met this need at a similar stage of development in the United States and United Kingdom, and its application to Australian conditions is discussed. Comparative analysis is presented as an integral feature of farm management accounting.