Gentlewomanly capitalism? Spinsters,widows, and wealth holding in England and Wales,c. 1800–1860

This article examines the demographic and geographical importance of wealthy middle-class women. It argues that in certain towns and cities, notably London, such women were of sufficient importance to merit attention in their own right. Drawing upon a sample of wills, it describes the types of wealth owned by these women. By examining women's investment in government securities, it argues that women's wealth was of crucial importance to the British state. Its findings challenge conventional understandings of the relationships between gender ideology, wealth holding, and economic development.     

What Do Bettors Want? Determinants of Pari‐Mutuel Betting Preference

A bstract .   This paper is an analysis of the demand for thoroughbred racetrack wagers, examining evidence that would support the existence of two types of bettors: the risk-averse informed bettor versus the uninformed bettor. Looking at 12 major racetracks over the fall of 2002, we undertake an empirical examination of the determinants of bettors' preferences for particular wagers on specific races. The goal is to try to determine what individual aspects of a race (conditions, surface, participants, etc.) will encourage increased wagering dollars. With the advent of simulcasting, the competition for the wagering dollar is fierce, as the bettor can choose from more than 100 races daily, each race offering numerous betting options. We find for most wagers that higher quality participants, larger and more competitive fields, and turf races increase betting volume while higher pari-mutuel takeout, poor track conditions, and other races run concurrently reduce volume. However, more competitive fields reduce betting volume in the show and trifecta pools. Optimal field size is determined to be between 10 and 12 betting interests. Overall, we find support for the existence of a significant share of risk-averse informed bettors.     

Question order effects in taste testing of beverages

The effect of order position has been demonstrated in marketing research, sometimes compromising survey results. This paper studies the influence of order position in product taste trials of carbonated beverages using a sequential monadic design. The authors measure attitude ratings across product trials rather than across products to examine the effect of order position on preference ratings.     

From the Business Ethics Course to the Sustainable Curriculum

Universities want to prepare students intellectually so that they might eventually find successful, fulfilling work. Since work is synonymous with business – no work ever exists outside of business – one of the academy's primary goals is to help students enter the world of business, regardless of their majors. Many universities also declare within their mission statements a desire to cultivate a student body capable of making ethically informed decisions. Consequently we might conceptualize "business ethics" as not simply one field within the academic constellation, but rather the conceptual glue holding together the curriculum. And since the most significant new development in business within the past decade is arguably the emergence of theories of sustainable business practice, we would do well to consider the role business ethics can play in the creation of a new "sustainable curriculum."     

Geographies of wealth: real estate and personal property ownership in England and Wales, 1870–1902

This article explores the composition and geographies of individual wealth holding in England and Wales in the late nineteenth century. It draws on various forms of death duty records to determine the individual ownership of wealth including both personal property and real estate. By combining information on these different kinds of property, it is possible to explore how different strata of wealth holders accumulated specific forms of wealth at the time of their death. The article then examines how the composition of that wealth varied according to the wealth holder's location in the urban hierarchy and distance from London. It points out important geographical differences in both the scale and nature of wealth holding and raises questions about the implications of these findings.     

Efficiency in Pari-Mutuel Betting Markets across Wagering Pools in the Simulcast Era

Simulcast wagering, where bets from across the country are taken at tracks, off-track betting facilities, casinos, by phone or online and incorporated into the same mutuel pool, has contributed to a large increase in betting volume on American horse races since the mid-1990s. This article investigates betting-market efficiency in the simulcast era focusing on whether the interrelated betting markets comprised of win, place (finishing in the top two), and show (finishing in the top three) wagering are efficiently priced. We find that the increased accessibility and betting volume associated with simulcasting has reduced, but not eliminated, the inefficiencies seen in prior studies. Despite the inefficiencies in these markets, arbitrage is not profitable because market closing prices are unknown when bets are placed.