HEDONIC PRICING MODELS FOR VEHICLE REGISTRATION MARKS

Abstract.  This paper attempts to link Chinese numerology to the determination of vehicle registration mark (VRM) prices in Hong Kong through the hedonic pricing analysis. The values of different patterns of the numbers and Roman alphabet letters are examined. We find that there is a very strong preference for the number '8', that visually appealing patterns add great values to a VRM and that the non-transferable VRMs are more expensive than transferable ones. We also show that their prices move in tandem with the Hang Seng Index. The findings suggest that the government can raise revenue by auctioning off intangible assets containing alphanumerical identification marks.     

高新技术产业项目的绩效管理——基于软件项目管理的实证研究

针对高新技术产业广泛采用项目驱动的管理模式,在理论分析和实地调查的基础上,实证研究了客户、项目经理和激励制度对项目业绩的影响。结果发现客户对定制化需求大,但对标准化软件却有更高的边际利润;政府机构是大客户,但其垄断地位,所带来的销售利润率和项目交付率并不高;地域商务环境影响交易成本,进而显著地影响了项目的业绩水平;项目业绩受项目经理激励程度和方式的影响,但与项目经理认知特征无显著关系。这些结论说明软件企业在制定战略时,需以定制产品和定制服务为起点,但最终必须研发成为具有行业特点的标准化应用软件;在资源分配时,应重点关注地域商务环境好的客户,适当提高非政府机构行业客户的资源分配比例;应健全项目经理激励制度,促使项目提前完工,从而降低开发成本,增加项目业绩。     

NONPROFIT EMPLOYEES' MACHIAVELLIAN PROPENSITIES

Nonprofit organizations are held to high ethical standards due to their charitable missions serving the common good. Incidents of fiscal mismanagement within the nonprofit sector make it relevant to assay the ethical principles of employees. This study examines the level of Machiavellian propensities of US nonprofit employees. Results indicate Machiavellian propensities do exist in certain nonprofit employees and these employees agree with questionable behavior. Policy makers and oversight agencies may find these results useful in developing corporate governance and accountability measures for nonprofit organizations. Furthermore, board of director members may use these results to monitor employee actions and address management training.     

Domestic Support and Border Measures for Processed Horticultural Products

In horticultural markets, trade barriers often apply to the processed products whereas domestic support applies to farm-produced raw commodities. Here we assess the effects of such trade barriers and domestic support by simulating the effects of policy reform on global processing tomato markets, which are faced with modest processed product tariffs and high domestic support in the European Union (EU). Both protection and EU subsidy drive down world welfare, but we find that reducing import tariffs for tomato products would yield greater effects on markets and larger welfare impacts outside Europe than would reductions in EU domestic support.     

经济增长、要素投入与发展战略选择——对我国经济增长的长期机制的实证分析

中国经济增长的长期机制问题一直以来都是理论界研究的热点问题。文章通过对1953—2004年与经济增长相关因素的统计数据的回归分析,并结合其他学者的研究成果,认为支撑我国经济增长的长期动力主要来自于要素投入,而要素投入的效果却与经济发展战略制定的一些非经济因素有关。     

REVISITING INFORMAL EMPLOYMENT AND SEGMENTATION IN THE SOUTH AFRICAN LABOUR MARKET

This study revisits the definition of informal employment, and it investigates the puzzle of high open unemployment co‐existing with relatively limited informal employment in South Africa. We estimate earnings equations using data from the September 2004 Labour Force Survey and present evidence of persistent earnings differentials not only between formal and informal employment, but also between types of informal employment. These persistent earnings differentials are suggestive of complex segmentation in the South African labour market and challenge the presentation of informal employment as an undifferentiated residual with no barriers to entry or mobility.     

Modelling the inflation process in transition economies: Empirical comparison of Poland, Hungary and Czech Republic

This paper starts from the observation that inflation in transition economies appears to be persistently high and volatile and attempts to provide some empirical characterisation of the inflation process in three such transition economies: Poland, Hungary and Czech Republic. We first consider the role of monetary growth as a major causal factor for inflation in these economies, and argue that the evidence provides rather weak support for the causal relationship. We then propose a transition economy cost-plus model and estimate this using the equilibrium-correction modelling (ECM) strategy augmented by introduction of a number of transitory factors and changes in the internal structure of the real economy which we believe may have had a significant impact on inflation in these economies. We show that this approach enables us to account for long-run inflation in these economies from the early 1980s to the present despite the turbulence of the latter part of the sample period. Our results support wage and exchange rate based inflation policies.     

Welfare paradox in economic restructuring

It can be proved theoretically that, because of the previously existing price and structural distortion, a welfare paradox is possible in the former command economies during the transition period. This paradox refers to a situation in which a welfare gain is accompanied by a fall in the reported GNP figure.     

Trade Union Derecognition in Britain, 1988–1994

Since the initial studies of derecognition, many articles have focused on the issue, by and large pointing to a slow increase in derecognition. However, a small number have indicated it is actually much larger. This paper shows that derecognition is even greater than these suggest and that its nature has changed. The paper looks at the contexts of this rise but argues that derecognition should not yet be seen as a major problem facing the unions.