China's foreign trade marketing strategy: Problems and prospects 1

It has been seven years since the open door policy was officially instituted by the People's Republic of China. During this time, changes have taken place within Chinese society and China's dealings with the rest of the world. In this paper, the authors evaluate the problems and prospects for China's foreign trade marketing strategy. They make recommendations in five policy areas: (1) export promotion; (2) the mix of exports; (3) a systems approach to trade; (4) joint ventures stressing value‐added labour and (5) the role of assembly technology. Each strategy is identified and discussed in terms of its future prospects in the development of China's trade.     

The Double-Auction Gambling Market: An Experimental Examination

A bstract .   I examine a new sports wagering mechanism that utilizes a double auction rather than the traditional wager matching bookmaker. Laboratory experiments were performed that modeled the two institutions in an attempt to compare the efficiency and volatility of the new mechanism versus the status quo. The new proposed double auction institution was less efficient and more volatile than the matching mechanism. However, the relative performance of the double auction mechanism was significantly improved by an increase in the size of the market.     

The use of multivariate methods in economics with reference to regional analysis

The purpose of this paper is to contrasts four different multivariate methods; multiple regression using principal components, factors analysis, discriminant analysis involving another use of principal components, and canonical correlation. The method adopted to compare and constrast the techniques is to make careful note of the assumptions involved in each model and to apply each form of analysis to variables drawn from the same set of data.     

RESERVATION WAGES AND THE UNION JOB QUEUE: A SAMPLE SELECTION APPROACH

This paper uses a unique data set of unemployed semi-skilled workers to examine the relationship between reservation wages and the decision to queue for a union sector job. Estimation of selected reservation wage equations indicates that the failure of all previous estimates to model the queuing decision results in biased coefficients. Those workers who queue for a union job are subject to a distinct reservation wage formation process which differs from those not queuing. Moreover, a structural estimate of the queuing decision demonstrates that workers with the greatest differences between estimated reservation wages in the union and non-union sector are the most likely to queue. This estimate of the queuing decision stands as one of the few which focus on unemployed workers. Among other results, women and minorities are more likely to queue for union jobs, all else equal.     

Issues in fitting theoretical and measurement models in marketing

This article reviews the applications of linear structural equation modeling in business. It further examines the extent to which measurement models are constructed to fit theory models. The consensus appears to be that modelers intuitively use congeneric models without considering the appropriateness of such use. The other measurement models, such as tau equivalent or parallel form models are used very little in the literature. In addition, there is no use of common factor measurement models. The article also examines the extent to which various indices of fit are used in modeling marketing phenomena. Although chi square tests of model fit are used most frequently, the study documents increasing use of yet other indices, which perhaps more accurately reflect the extent to which the model fits.     

A note on urban migration in New Zealand

The purpose of this study is to develop a simple simultaneous equations model of urban migration in New Zealand. The model comprises equations explaining in-migration and out-migration, the significant explanatory variables being determined by a “backward-elimination” procedure. The results isolate the important influence of one large growth center on in-migration and out-migration rates, the significance of incomes for in-migration rates, and the effect of a geographical barrier on out-migration rates.     

Demand shocks,capacity coordination,and industry performance: lessons from an economic laboratory

Antitrust exemptions granted to businesses under extenuating circumstances are often justified by the argument that they benefit the public by helping producers adjust to otherwise difficult economic circumstances. Such exemptions may allow firms to coordinate their capacities, as was the case of the post‐September 11, 2001, antitrust immunity granted to Aloha and Hawaiian Airlines. We conduct economic laboratory experiments to determine the effects of explicit capacity coordination on oligopoly firms' abilities to adjust to negative demand shocks and on industry prices. The results suggest that capacity coordination speeds the adjustment process, but also has a clear procollusive effect on firm behavior.