Value elicitation for multiple quantities of a quasi‐public good using open ended choice experiments and uniform price auctions

Choice experiments and experimental auctions have become popular mechanisms for estimating willingness to pay (WTP). However, these methods have primarily been used for estimating WTP for single units of goods. We analyze the results from experimental auctions and choice experiments in the context of multiple quantities of a quasi‐public good (animal welfare product). We show that the use of WTP values for a single unit of a product, a common practice in experimental valuation literature, can result in underestimation of aggregate demand. We use and compare open ended choice experiments (OECE), second price Vickrey auctions, and random Nth price auctions as mechanisms for valuing WTP. Our results also suggest that individual level demand estimates from OECE are less elastic than demand estimates from uniform price auctions.     

Urban Land: Price Indices,Performance, and Leading Indicators

The Journal of Real Estate Finance and Economics - This study had two objectives: first, to evaluate the historical performance of urban land prices across 20 prominent U.S. metro markets; and...     

Variation in the labour market rewards to vocational qualifications in the UK

We use UK Labour Force Survey data to estimate wage differentials associated with the attainment of vocational qualifications, relative to comparison groups qualified to at best one level below. Our main aim is to show the variation in the size of such differentials, according to the unobserved characteristics of the individual, via quantile regression and also according to the characteristics of the qualifications themselves, in terms of the level, type and subject area. With respect to subject area, the key reason for variation in differentials across subjects is the differences in occupations to which qualifications lead.     

The Monasteries of Putuoshan,China: Sites of Secular or Religious Tourism?

The article reports an analysis derived from a sample of 640 respondents visiting the Buddhist site of Putuoshan that is sacred to the Bodhisattva of Compassion, Avalokitesvara. Drawing on literature and observation over a 12-month period, the article adopts a fourfold designation of visitors: Xiankes, Sushi, Sightseers, and Cultural/Heritage Visitors. Three scales are developed and exploratory factor analysis supports distinctions between the clusters with reference to motives, activities and beliefs, and the categorization is supported by logistic regression analysis. The findings are discussed in the context of destination management with reference to two considerations—namely: (a) sites of religious importance often possess secular as well as religious significance; and (b) the numbers of tourists appear to be growing, thereby raising concerns of future negative tourism impacts.     

Necessary and sufficient conditions in merger control: the use of HHI and threshold value

This article considers two coarse measures applicable to antitrust policy: one of market concentration, the Herfindahl–Hirschman Index (HHI) and one of market dominance, threshold value. Calculations of threshold value are compared to HHI values to determine when thresholds might be of specific use in merger cases. Many scenarios which satisfy the threshold conditions (indicating a dominant firm exists) are consistent with high HHI numbers such that current US Department of Justice and European Commission guidelines (based on HHIs) for merger concerns will have been met. It is suggested as a rule of thumb that HHIs be used as necessary conditions and threshold value be considered sufficient conditions for further case review.     

董事会信息保密战

正创建互相信任的文化可能是董事会防范信息泄露的最佳措施,董事长应该以身作则,率先在董事会中营造充满信任与凝聚力的氛围信息时代,机密情报比以前更容易泄露。即时通讯工具和社交媒体赋予每个人通过英特网广泛传播消息的能力,而机密信息总是陷入被有意或无意暴露的风险中。追捧透明度和披露的文化潮流盛行,高调的泄密者时不时登上头版头条,维权股东和他们的提名     

DUAL ECONOMY MODELS: RETROSPECT AND PROSPECT

The paper surveys recent work on dual economy models starting from the famous 1961 Jorgenson paper and ending with some of the new contributions to the literature on North-South trade which have the same analytical structure as the dual economy model. Various models are compared with respect to assumptions about asymmetries, speeds of adjustment and factor immobilities. Two important conclusions are noted: dynamic behaviour is often quite sensitive to the ranking of adjustment speeds and the direction of further research should be toward further disaggregation.     

Does a 'shadow workforce' of inactive nurses exist?

The entire population of inactive nurses in Vermont was surveyed to determine if a "shadow workforce" exists. The notion that large numbers of nurses are available to return to work is not supported by this study. Desirable benefits for those wishing to return are discussed.