Cluster Dynamics: Corporate Strategy, Industry Evolution and Technology Trajectories - A Case Study of the East Midlands Aerospace Cluster

High-technology clusters have attracted the attention of researchers and policy-makers but studies have focused primarily on the computer, electronics and biotechnology industries; aerospace has attracted less attention. An example of a high-technology cluster based on aerospace is to be found in the East Midlands region of the UK. This paper analyses this cluster. The analysis focuses on the structure of the cluster and the implications of this structure for cluster dynamics. The impact of factors such as corporate strategy, industry evolution and technological trajectories on cluster development are analysed. Finally, the implications of cluster structure for economic development policy in the region are evaluated.     

Tactics of Labor Struggles

Some actions by employers have the potential to generate outrage due to perceived injustice or abuse. Employers have five main methods to inhibit such outrage: covering up the action, demonizing the workers, reinterpreting what is happening, referring the matter to official channels that give only the appearance of justice, and using intimidation and bribery. Examples from Australian labor struggles are used to illustrate these tactics and how they can be opposed.     

An Alternative Perspective On Information Asymmetry; Implications For Consumer Authority In Physician Services Markets

This paper looks at the impact of patient knowledge on utilization and quality in physician services markets, developing a theoretical framework based on an alternative to the "market failure" perspective first proposed by Arrow (1963) . Specifically, this paper looks at how outcomes in physician services markets are determined by whether patient and physician knowledge are substitutes or complements in health production. Empirical testing of the theoretical predictions indicates patient and physician knowledge have changed from substitutes to complements in recent years, and that this change may be hindering a more consumer-driven market from ensuring high quality outcomes.     

An Examination of Cheating and its Antecedents Among Marketing and Management Majors

This study examines cheating behaviors among 742 marketing and management majors at three public AACSB-accredited business schools. Specifically, we studied the simultaneous influence of demographic and attitudinal characteristics on: (1) reported prior cheating behavior; (2) the tendency to neutralize cheating behaviors; and, (3) likelihood of future cheating. We additionally examined the impact of in-class deterrents on neutralization of cheating behaviors and the likelihood of future cheating. We also directly tested potential mediating effects of neutralization on cheating behavior.We conducted independent assessments of the validity of the Smith et al. (2002) model of cheating behavior and its antecedents using structural equations modeling procedures. Results supported the differentiation of the theoretical constructs within the specified process model. Furthermore, tests of the aforementioned theoretical model indicated that the primary influences on future cheating were prior cheating, and the degree to which one neutralized prior cheating behaviors. Equally noteworthy, in contrast to previous research we found in-class deterrents to have no significant influence in either neutralizing behavior or future cheating proclivities.     

Coinage, debasements, and Gresham's laws

Summary. This paper formulates a model of commodity money that circulates by tale, and applies it to a variety of situations, some of which seem to confirm, and others to contradict, `Gresham's Law'. We analyze how debasements could prompt decisions of citizens voluntarily to participate in recoinages that subjected them to seigniorage taxes. Received: December 19, 1994; revised version August 1, 1996     

Social structure and voting choice: hypotheses,findings, and interpretations

Quality & Quantity - To explain voting patterns in recent Presidential elections in the United States, I analyze data from the 1984 National Election Survey, and apply core hypotheses from an...     

CAN FINANCING CONSTRAINTS EXPLAIN THE ASSET PRICING PUZZLES IN PRODUCTION ECONOMIES?*

General Equilibrium asset pricing models have a difficult time simultaneously delivering a sizable equity premium, a low and counter cyclical real risk free rate, and cyclical variation in return volatility. To explain these stylized facts, this article introduces occasionally binding financing constraints that impede producers’ ability to invest. The financial frictions drive a wedge between the marginal rate of substitution and firms’ internal stochastic discount factors so that the shadow value of capital is not tied to the average price of capital. The model delivers higher and more volatile asset returns during recessions as well as a counter cyclical equity premium.