Damaged Goods

Manufacturers may intentionally damage a portion of their goods in order to price discriminate. Many instances of this phenomenon are observed. It may result in a Pareto improvement.     

Density and Integration Effects on Class I U.S. Freight Railroads

We investigate some technological aspects of railroading relevant to the debate on open access by estimating a multiproduct cost function with both operational outputs and infrastructure maintenance outputs. We find strong cost complementarities among operational outputs, but not between operations and infrastructure. The latter result implies that at the levels of output that characterize freight rail operations in the U.S. there may be no inherent technological advantages from vertical integration. The former suggests though (for reasons that we develop below) that competitive access alone will not necessarily lead to competitive outcomes in rail freight markets.     

A Model of Ethical Decision Making: The Integration of Process and Content

We develop a model of ethical decision making that integrates the decision-making process and the content variables considered by individuals facing ethical dilemmas. The process described in the model is drawn from Janis and Mann’s [1977, Decision Making: A Psychological Analysis of Conflict Choice and Commitment (The Free Press, New York)] work describing the decision process in an environment of conflict, choice and commitment. The model is enhanced by the inclusion of content variables derived from the ethics literature. The resulting integrated model aids in understanding the complexity of the decision process used by individuals facing ethical dilemmas and suggests variable interactions that could be field-tested. A better understanding of the process will help managers develop policies that enhance the likelihood of ethical behavior in their organizations. Roselie McDevitt Sc.D. is Assistant Professor of Accounting at␣the Charles F. Dolan School of Business at Fairfield University in Fairfield, Connecticut. Dr. McDevitt teaches financial and managerial accounting. Her Primary areas of research are accounting education and accounting ethics. Catherine Giapponi is an Assistant Professor of Management at the Charles F. Dolan School of Business at Fairfield University in Fairfield, Connecticut. Dr. Giapponi teaches courses in management, organizational behavior, and strategy. Her primary areas of research are corporate governance and business ethics. Cheryl Tromley, Ph.D., is a Professor of Management at␣Fairfield University where she has taught management, organizational behavior, organizational communication, organizational␣culture, organization development, and diversity for 19 years. She has co-authored two editions of the text ``Developing Managerial Skills in Organizational Behavior'␣as well authored or co-authored a significant number of professional articles and presentations related to management and management education.     

Historic Returns and Institutional Real Estate Portfolios

This study employs a sample of equity REIT portfolios from 1972–78 to investigate various aspects of real estate returns. Return estimates are derived for the unlevered cash yields by property size, type and location. Based on these data, the effects of certain kinds of diversification on risk-adjusted returns are examined. Finally, historic REIT portfolios are compared to current commingled fund portfolios and suggestions made concerning the benefits of restructuring.     

The road less travelled: a pre-service approach towards the technology teaching profession

This paper presents the findings of a longitudinal study on the effectiveness of an innovative one-year pre-service Graduate Diploma of Teaching (secondary) for teachers of Technology. The timing of this study is significant. Over a decade of review and adjustment to the Technology curriculum, leading to the new learning area of Technology in the New Zealand curriculum, Ministry of Education (2007), has caused many teachers in New Zealand schools to retrench to an earlier approach or make their own interpretation of curricular requirements. This situation in schools created the need for those involved with pre-service teacher education to prepare programmes that signpost pitfalls while building on students’ own strengths and those of the curriculum to cope with the wide variety of interpretation and pedagogical approach of school communities. This paper suggests a way forward.     

Medium term economic dynamics of the Euro Area

This paper analysis the Euro area’s growth over the last 15–20 years and provides a medium term outlook. We find that in a no policy change scenario, growth will be subdued, essentially reflecting the influence of weak pre-crisis trends, most notably for TFP (especially since the mid-1990’s). This trend will be exacerbated over the coming decade by the ongoing negative fallout from the financial crisis and by the emerging drag on growth emanating from ageing populations. Unlike in standard recessions, the GDP losses relative to a pre-crisis projection appear to be permanent. The picture presented could potentially improve with the implementation of an ambitious programme of structural reforms focussed on boosting employment and productivity. Since the usefulness of such policies is controversial in the current juncture with constrained monetary policy, the paper also looks at the impact of such reforms in a realistically calibrated model and concludes that fears of large permanent deflationary effects from structural reforms are exaggerated.