International Approaches to Global Climate Change

This article surveys the issues involved in slowing the climatechange induced by global emissions of greenhouse gases, especiallycarbon dioxide. It addresses the possible social and economicimpacts of global warming, the elements involved in evaluatingthe pros and cons of steps to reduce those impacts, and theissues involved in engaging most of the worlds states in a cooperativeendeavor to reduce greenhouse gas emissions. It expresses doubtsabout the efficacy of a global approach based on national emissiontargets, such as those set by the 1997 Kyoto Protocol, and favorsinstead mutually agreed actions focused on a common emissiontax. It also discusses issues of compliance with an internationalagreement to reduce emissions, actions states can take in theabsence of international agreement, and contingency actionsthat might be considered if the problem proves to be more seriousthan now seems to be the case.      

There's something about saving …

The paper considers how people should plan their saving, given certain assumptions about inheritance and changes in household circumstances. The results are produced by a model that takes into account tax and state benefits as well as various private savings vehicles. It concludes that, for many households, saving for retirement through a ‘pension’ might not be optimum and that the best strategy is to vary the incidence and allocation of saving in response to changes in household circumstances.     

A Rose.com by Any Other Name

We document a striking positive stock price reaction to the announcement of corporate name changes to Internet-related dotcom names. This "dotcom" effect produces cumulative abnormal returns on the order of 74 percent for the 10 days surrounding the announcement day. The effect does not appear to be transitory; there is no evidence of a postannouncement negative drift. The announcement day effect is also similar across all firms, regardless of the firm's level of involvement with the Internet. A mere association with the Internet seems enough to provide a firm with a large and permanent value increase.     

Blue Flag or Red Herring: Do beach awards encourage the public to visit beaches?

Surveys of beach visitor motivation in Ireland, Wales, Turkey and the USA indicate that beach awards play an insignificant role in motivation to visit beaches. However, a number of criteria closely identified with awards, notably cleanliness and water quality, are revealed to be very important. Aesthetic and emotional factors such as scenic setting and general ambience, and practical concerns such as proximity and range of activities available are much more important than beach awards in attracting visitors to beaches. The merits of beach awards are critically reviewed and it is concluded that any benefits that might accrue are in areas other than attracting visitors.     

Tourism today: A geographical analysis : by D.G. Pearce Longman, Harlow, 1986, 229 pages, £9.95

Chris Cooper, of Surrey University's Department of Management Studies for Tourism and Hotel Industries, describes the uses and significance of the technique of interpretation in providing an interface between the tourist destination and the visitor. Interpretation can enhance the visitor experience by making the attributes of the resort more comprehensible.