Using Behavioral Experiments to Expand Our Horizons and Deepen Our Understanding of Logistics and Supply Chain Decision Making

As logistics and supply chain managers face increasingly complex challenges, there is a critical need to better understand the nuances of decision making in today’s global business environment. However, the systematic effect of behavioral biases and cognitive limits on managerial judgment and decision making in our discipline has not received much attention to date. Behavioral experiments represent a potentially valuable and currently underutilized approach for gaining insight into logistics and supply chain decision making that is commonly characterized by departures from rational thought. This article challenges logistics and supply chain researchers to consider the opportunities and realities associated with using behavioral experiments in pursuit of knowledge in this area.     

Time-space convergence and urban decentralisation

The phenomenon of time-space convergence (or compression) has been considered to be associated with the technological advances that have shortened our travel time. Advances in transport technology have gradually diminished travel times, and this process has been discussed in the context of international- or national-level transport changes. This paper investigates the changing relationship between space and time at the urban level. The changing relationship between commuting time and distance in the Seoul Metropolitan Area (SMA) is empirically analysed by using the 1990, 1995, 2000 and 2005 two-percent sample data of the Korean Census of Population and Housing. The study results empirically demonstrate the close relationship between the urban decentralisation process and the time-space convergence phenomenon. The key findings of this research are that commuting time per distance unit in the SMA shortened over the 15 years of the study period, and this improvement was greater for longer journeys than for shorter trips. The empirical evidence of this research shows that workers have migrated to faster commuting modes such as car and subway and away from slower modes such as buses, so that commuting time has decreased or remained constant even as commuting distance in the SMA has increased.     

Do expectations of future wealth increase outbound tourism? Evidence from Korea

As international tourism is generally considered a luxury good, models to date have shared an understanding that demand is dependent on discretionary income. However, consumption theories predict that a shift in demand can be induced without changes in actual earnings when expectations for future income are adjusted. This presumes demand for international tourism can be influenced by “wealth effects” from real estate and financial assets. This study tested for the wealth effect on Korean outbound travelers during the 20 years between 1989 and 2009. Korea is a unique place to examine in that Korean households possess housing assets and financial assets that are traded actively in markets. The results of this study favored the possibility of a significant wealth effect from housing on outbound travel demand, but not from financial assets. This may be explained by data sensitivity and the relative importance of financial assets in the Korean people's wealth portfolios. Implications and suggestions for future research are provided along with the findings of the study.     

“利维坦假说”、财政分权和地方政府规模膨胀——来自1998-2006年的省级证据

本文在"中国式分权"的背景下,从"利雏坦假说"出发,探索了地方政府支出规模及其主要支出项目与财政分权之间的理论关系,并通过计量模型检验得到了两个主要结论:第一,财政分权推动了地方政府规模扩大,"利维坦假说"在中国并不成立;第二,财政分权对经济建设支出规模的推动力最大,对公共服务规模的作用次之,而对政府自身消费的推动力最小;并尝试性地给出了遏制政府规模扩张的政策建议.     

Examining the relationship between stock return volatility and trading volume: new evidence from an emerging economy

Using daily stock return data for individual stocks from an emerging economy, this article examines the relationship between return volatility and trading volume under the theoretical postulate of the mixture of distributions hypothesis. The results suggest that the contemporaneous trading volume as a proxy for latent information arrival to the market did not contribute to the removal of significant ARCH or Generalized Autoregressive Conditional Heteroscedasticity effects that are found in stocks at the first stage of the investigation. The same holds for the lagged volume except for one case. This, perhaps, suggests that the trading volume (contemporaneous or lagged) is not adequately conveying information to induce traders’ views of the desirability of trade and, therefore, points to the need for searching for other micro and macro variables to be used as potential proxy for information arrival to the stock market of the emerging economy.     

生产性服务业崛起背景下鲍莫尔—富克斯假说的再检验——基于中国236个样本城市面板数据的实证分析

在生产性服务业崛起的背景下,通过构建理论模型,并利用中国236个样本城市2003—2007年间面板数据,从理论和实证两个方面检验鲍莫尔—富克斯假说在中国的存在性。研究发现:生产性服务业的崛起对鲍莫尔—富克斯假说形成挑战,改变了服务业比重与整体经济增长速度之间的线性关系;受生产性服务业发展的影响,随着服务业比重提高,二三产业的相对劳动生产率差距在缩小;服务业比重与整体经济增长速度之间呈非线性关系,随着人均GDP的提高,服务业比重与整体经济增长速度之间的负相关关系会弱化。     

冯·诺依曼效用理论述评

冯·诺依曼效用理论是分析在有风险条件下存在于逻辑时间内事件重复出现的消费者行为理论.这一理论持基数观点,它通过选择的概率来定义效用,目前广泛应用于货币经济学理论分析中.冯*诺依曼效用的理论意义在于给古典的基数效用论注入了新的生机,其存在的问题是效用指数的客观性受到广泛质疑.     

对管理会计原则的若干思考

管理会计原则是指导管理会计工作的规范,是对管理会计工作提出的要求。由于管理会计的主要信息来源是财务会计信息,二者在某种程度上是同源而分流的,因此可以借鉴财务会计原则的体系,将管理会计原则划分为基本假设和指导性原则两部分。