Problem shifts and market research: The role of networks in business relationships

This article discusses changes in approach to the study of business relationships, and sees the paradigm concept as constituting an inadequate basis for describing gradually evolving changes in the perception of business. The frequent references to paradigms appear to focus more on state aspects than on change aspects of theory building. The article attempts to trace some of the changes in the perception of markets preceding the emergence of network theories, and relates the presence of an interactional approach to business studies to the concept of problem shifts (Lakatos). The development of interactional approaches in marketing is seen as representing a shift away from theory building commonly found in economics and organizational theory. Changes in the approach to the study of business relationships are interpreted as theoretical or empirical problem shifts, and are thus related to the a priori and a posteriori relevance of the continual evolution of alternative business theories. The article explores some of the epistemological relevance of the network theories to the study of market relationships, and the potential impact on continual changes in approach to the study of markets.     

On evaluating the equivalency of alternative MDS representations

A typical question in MDS is whether two alternative configurations that are both acceptable in terms of data fit may be considered “practically the same”. To answer such questions on the equivalency of MDS solutions. Lingoes & Borg (1983) have recently proposed a quasistatistical decision strategy that allows one to take various features of the situation into account. This paper adds another important piece of information to this approach: for the Lingoes-Borg decision criterion R, we compute what proportion of R-values is greater/less than the observed coefficient if one were to consider all possible alternative distance sets within certain bounds defined by the observed fit coefficients for two alternative MDS solutions, what are the limits of acceptability for such fit coefficients, and how are the observed MDS configurations interrelated.     

Planning considerations for cultural tourism: a case study of four European cities

Utilising the information gathered in four European cities, this paper discusses and tests a framework of reference for visitor-friendliness, a complex concept that encapsulates the main dimensions of the urban tourism product such as its quality, accessibility and image projection. This concept is particularly relevant to assess whether investments in culture and hospitality genuinely respond to the impulses coming from the market. The case studies highlight how specific soft elements of the urban tourism product are the ones that matter most in determining the attractiveness of a city for international visitors, and yet they are often overlooked by city planners. The paper also identifies a number of “best practice” in tourism management.     

The Incidence of Taxes on Casino Gambling: Exploiting the Tired and Poor

A bstract . The equity of taxes on casino gambling in Las Vegas and Atlantic City using recent survey data is examined. Daniel B. Suits (1977) study of the tax on casino gambling concluded that the tax was progressive when he used a national sample to estimate tax incidence. This result is challenged. Tax incidence is estimated using survey data obtained from people who either live in or have traveled to Las Vegas or Atlantic City. On the basis of the sample of people who have given themselves access to casino gambling , the tax is regressive; in fact, it is extremely regressive in Las Vegas. Therefore, in this time of easier access to casino gambling, policy-makers should be aware that the taxes on casino gambling place a proportionately heavier burden on low income groups.     

The impact of mergers on acquiring firm shareholder wealth: The 1905–1930 experience

From the standpoint of investors successful acquisitions increase profitability and stock Contemporary studies find acquiring firm shareholders earning small gains before and large losses after consolidation. Using modern financial market procedures, we examine a portfolio of 191 acquiring firms from 1905 to 1930 to determine the impact on firm owners of early industrial acquisitions in the United States and the effect of institutional changes on takeover gains. Acquisitions from 1905 to 1930 raised shareholder wealth by more than 3 percent, an increase exceeding gains from more recent mergers. Stock price continued to rise after completion for acquisitions before World War I, but fell dramatically for acquisitions during the oligopoly merger wave of the late 1920s.We would like to thank Patrick Byrne and Tara Nussman for help in collecting the financial data, Ralph Nelson for permitting us to use his and Carl Eis's worksheets on merger activity from 1905 to 1930, and George Bittlingmayer, Malcolm Burns, David Gulley, Stephen Grubaugh, Lori Leeth, John Matsusaka, Dennis Mueller, Rexford Santerre, Scott Sumner, Tugrul Temel, and Nikhil Varaiya for their helpful comments.     

The effect of gender and race on student performance in principles of economics: the importance of personality type

This article analyses motion picture box-office gross revenue using a cross-section of films from 1997 to 2001. The dependent variable is total domestic box-office revenue. The independent variables investigated include: production budget; peak number of screens that the film was shown on in theaters; Consumer price index for movie tickets; personal income; season and year of the release in theaters; a measure of pre-existing audience; aggregate critic rating; MPAA rating; genre; word-of-mouth recommendation; the presence of popular stars and the award nominations. A distinction is made in the analysis between information available to the public prior to the release of the film in theaters (ex ante) and information available to the public after the film opens in theaters (ex post). Results for the ex ante ordinary least squares (OLS) regression reveal positive impacts of budget, summer and holiday release dates, critical reviews, sequels and several genres on gross revenue. Significant, positive determinants in the ex post OLS regressions include budget, the peak number of screens, sequels, critical reviews, summer and holiday releases, word-of-mouth, award nominations and star power.     

Continuing the evolution of the selling process: A multi-level perspective

This paper considers the selling process from a relational perspective, thereby developing a more comprehensive understanding of the process. Emerging from this is a multi-level framework, which delineates the multiplicity and connectedness of relationships which exist in B2B interactions. The paper provides a relationship management tool for theorists as well as practitioners. The model visualizes strategic advantage for selling firms in seeking to optimize their position in an evolving network context. The combining of IMP, sales and relationship marketing theories that underpin this approach calls for further extension and/or reconceptualization of the selling process. Our reconceptualization asserts that identifying, measuring and managing selling-related relationships at the monadic, dyadic and network levels will facilitate the strengthening of a firm's network position and thus their performance. Our framework provides an analytical tool to assist in this.