Multiobjective planning for integrated land use and outside‐allied transportation systems in recreational areas

In recent decades, recreational needs have dramatically increased due in part to increased economic prosperity and people becoming more wealthy. As a result, the utilization of recreational resources and the management of recreational areas has become an urgent issue for the government and private authorities. In past studies, the planning or developing of land use for recreational areas almost only dealt with resource planning, and neglected to consider the problems of transportation systems. This resulted in two problems: 1) the supply of recreational resources and recreational needs could not be balanced, which resulted in an overuse of resources; and 2) the outside‐allied transportation service systems and recreational needs were Unbalanced, which resulted in traffic flow problems. This paper focuses on the level of service associated with outside‐allied roads for recreational areas and considers the transportation conditions needed to build a normative model for recreational land use using fuzzy multi‐objective planning. The best balance, should take into account the trade‐offs of various objectives: the flexible constraints of the resources and satisfactory transportation conditions. The optimum solution for developing areas and categories of land use should include these four objectives: a) the maximum satisfaction of recreational needs, b) the maximum amount of resource conservation, c) the maximum economic benefit, and d) the maximum level of service for the outside‐allied transportation systems.     

Off-balance sheet activities and cost inefficiency in Taiwan's Banks

In this study, we adopt a stochastic cost frontier method to investigate the influence of off-balance sheet (OBS) activities on the cost efficiency of Taiwan's banks. We estimate and compare cost inefficiency with or without OBS outputs of 46 Taiwanese commercial banks during the period, 1998 through 2001. The conclusions of this empirical study are as follows. First, omitting off-balance sheet outputs in estimating the cost frontier function of banks results in an underestimation of bank efficiency by approximately 5 per cent. Second, large banks are associated with a higher cost efficiency and have an increased ability to develop OBS activities. This is consistent with Taiwan's regulatory policies, which focus on promoting efficiency in the banking industry of emerging markets. Banks with higher employee productivity are also more cost efficient. Finally, we observe evidence of economies of scale in both models with or without OBS specification in Taiwan's bank industry. Economies of scope between loans and OBS outputs are also observed.     

The effects of inflation targeting on Okun’s law

This article provides the first empirical evidence that the adoption of inflation targeting (IT) matters for the extent of tradeoff between unemployment and output, that is Okun’s law. Our full sample results indicate that IT leads to a more negative Okun’s coefficient, suggesting that, for a given reduction of output, the introduction of IT is associated with a higher unemployment rate. Subsample analyses reveal that the whole sample results are mainly driven by the industrial subsample outcomes, not the developing counterparts. Our findings point out that IT not only influences macroeconomic variables per se but also affects the relationship between/among macroeconomic variables.     

The Impact of 2007/08 Financial Crisis on the Stability and Enlargement of the EMU

Before 2007/08, the European Monetary Union (EMU) was expected to be enlarged on schedule, but the European sovereign debt problem, triggered by the exogenous US sub‐prime crisis, not only has revealed the EMU's fiscal coordination failure, but also has weakened regional financial integration. The stagnation of financial integration will therefore increase the cost of sustaining a monetary union, which in turn slows EMU enlargement and ruins the reputation of the euro. This paper aims to measure the damage to financial integration and to provide a more precise answer on real interest rate parity (RIP) convergence. Our estimation indicates that RIP between the EMU and some accession candidates is still valid after the interruptions of the financial crises. However, convergence of real interest rates cannot be achieved until 2030. This implies the EMU authority must strengthen regional financial integration to solidify the EMU and then be able to re‐start enlargement.     

Reflected Glory Versus Repulsive Envy: How Do the Smiths Feel About the House of the Joneses?*

A key question raised regarding conspicuous consumption is whether such consumption leads to positive or negative net externalities. The present paper examines how the presence of luxury and expensive properties within a local area affects the house prices in Taipei City. Positive externalities may be associated with improved urban amenities or reflected glory. Negative externalities may be associated with the adverse reference group effect; that is, repulsive envy. The paper discusses the spillover effects due to changes in neighborhood's housing characteristics, and shows significant spatial patterns in house prices and the importance of socioeconomic influences on house prices.     

An efficiency characterization of plurality rule in collective choice problems

We consider the problem of selecting alternatives from a set of feasible alternatives over which each agent is endowed with a strict preference. We show that there is one and only one rule that satisfies anonymity, neutrality, efficiency, tops-only, and reinforcement. The rule is known as plurality rule, which selects the alternative(s) most preferred by the largest number of agents. I would like to thank William Thomson for helpful suggestions and discussions. I am grateful to Biung-Ghi Ju, Hyungjun Kim, and Yan-An Hwang for detailed comments. I am also indebted to the Editor and an anonymous referee for valuable suggestions. As usual, I am responsible for any remaining deficiency.     

Nostalgic emotion,experiential value,brand image,and consumption intentions of customers of nostalgic-themed restaurants

During the last few years, nostalgia has become a fashion in Taiwan. “Nostalgic” restaurants are becoming common in Taiwan. A nostalgic restaurant can be a hot pot restaurant decorated with furnishing relating to the origin or earlier use of the “hot pot” in Taiwan. The study here uses SEM to test the hypotheses relating to nostalgia affecting consumption. The results indicate that (1) nostalgia has both direct and indirect impacts on consumption intention; (2) consumption affected by nostalgia varies depending on the individual; and (3) younger customers' predisposition to want cheap prices is an important consideration in marketing nostalgia to younger customers.     

Humor roles of females in a product color matrix: a qualitative conceptual development

Many studies have sought to understand the functional impact of humor in advertising, psychology, and communication. Doctors and other healthcare providers may use humor to treat mental health conditions and for easing stress. This is because humor acts as a tonic in reducing anxiety and resolving conflict. Because of similar benefits, humor is a suitable message medium in advertising. This research specifically examines the relationships among product types, female depictions and humor in its broad use in advertising. The objective is to identify compelling, contemporary and humorous female depictions in advertising. Further, it is to conceptualize how humor can be used to successfully classify a product as fitting into one of the four categories of the product color matrix. The results can offer an idealization for marketing managers and consumers to help them understand how female role depictions can be effectively used with humor in ads. The four propositions developed herein are derived from related literature, through the identification of marketing strategy formulations that achieve product memory enhancement by adopting humor mechanisms properly matched with female role depictions.