Human capital externalities with monopsonistic competition

This paper provides a novel microeconomic foundation for pecuniary human capital externalities in a labor market model of monopsonistic competition. Multiple equilibria arise because of a strategic complementarity in investment decisions.     

Zur Rehabilitierung des Wieserschen Grenzgesetzes

Ohne ZusammenfassungDie nachstehenden Ausführungen sind den einleitenden Kapiteln meines in Kürze im Springer-Verlag, Wien, erscheinenden Buches Das Gesetz des Grenznutzens — Untersuchung über die Wirtschaftsrechnung des Konsumenten entnommen.     

Moral Hazard and Reciprocity

We investigate the motives behind reciprocal behavior by making selfish acts anonymous and not common knowledge. In one treatment, subjects were assigned to the role of proposer or responder and played a trust game with random matching for 20 rounds. In a second treatment, the modified game, the procedures were the same, but responders were allowed to choose with only 80% probability. With 20% probability, responders were restricted to keep any money passed. Only responders knew whether they were restricted or not. We find that the behavior of responders is different in this modified trust game. The fact that responders can hide selfish acts generates more selfish behavior. This in turn makes proposers less likely to pass money to responders, thereby destroying trust. We find important session effects in the standard trust game but less so in the modified game. Our experiments show that information conveyed in actions is important to subjects' decisions.     

A Hierarchy-of-Effects Approach to Designing a Social Marketing Game

While there is great enthusiasm and interest by social marketers for games as a social marketing intervention, there is little evidence of the impact of these games. This research seeks to fill this gap by testing a theoretical model based on the experiential hierarchy of effects. An online game about the physiological effects of drinking was designed for high-school students and implemented in an educational curriculum with 223 participants (96% response rate) completing an online survey. The data was analyzed using structural equation modeling (SEM) and showed support for nine of the eleven hypotheses. The results show game characteristics of enjoyment (feel), knowledge (learn), and challenge (do) significantly related to attitudes and moderate-drinking behavioral intentions, ability to control drinking, and awareness of the physical consequences of drinking. There were no gender differences.     

Exploring the determinants of E-loyalty among travel agencies

This study aims to explore and empirically build up an e-loyalty model for the burgeoning e-service of Taiwan's travel agencies. Mailed data and data collected in personal from multiple sources is used for helping to identify the determinants of e-loyalty between Taiwan's wholesaler and retailer travel agencies. Several statistical techniques, including confirmatory factor analysis, correlation analysis, and a linear structural relationship (LISREL) are used, and a structural equation is implemented to test the e-loyalty model. The results indicate that Taiwan's wholesaler travel agencies might consider e-quality as well as trust as the most important antecedents to e-loyalty, whereas loyalty results in the increased transaction intentions of retailers. No related studies so far have analysed or tried to discern the cause-and-effect relationship between e-loyalty and transaction intention for travel agencies. This paper also proposes an optimal e-loyalty model that matches the essential development needs of B2B commerce transaction. Finally, the model herein illustrates how wholesalers can realise e-commerce strategic goals by acquiring the e-loyalty of retailer travel agencies.     

Pricing of card payment services in Scandinavian banking: a comment

Willesson [(2009). Pricing of card payment services in Scandinavian banking. The Service Industries Journal, 29(3), 387–399] purports to demonstrate that when it comes to pricing of card payment services, Scandinavian banks with foreign operations will typically align themselves with the ‘pricing tradition’ in their foreign market(s). Unfortunately, a problem with Willesson's approach is that for several banks in his sample the foreign pricing tradition happens to coincide with the pricing strategy that the bank uses in its home market. As a result, it is impossible to determine whether these banks have really opted for a strategy of national responsiveness.     

An analysis of the relationship between market orientation and business performance in the hotel industry

The purpose of this study was to conduct an investigation into the link between market orientation and business performance in the hotel industry. Data were generated from 63 hotels in Hong Kong. The findings indicated that market orientation is positively and significantly associated with the marketing performance and financial performance of a hotel. The implications of the findings are discussed and the limitations of the study as well as future research directions are addressed.     

Water markets as a vehicle for water reform: the case of New South Wales

Water reform in NSW is being undertaken using an adaptive approach in recognition of the uncertainty and imperfect knowledge embodied in the riverine environment. However, the reform process also relies, in part, on the ability of markets for tradable water entitlements to develop and thereby assist in allocating scarce water resources to their highest value use. This article explores impediments to the formation of efficient markets in permanent tradable water entitlements in NSW. The article concludes that more attention should be paid to market failures and related problems which manifest themselves in thin markets for permanent water entitlements.