A COMPARISON OF SOME INTRODUCTORY AND UNDERGRADUATE ECONOMETRIC TEXTBOOKS

Books reviewed in this article:
William H. Greene (1993) Econometric Analysis (Second Edition)
William E. Griffiths, R. Carter Hill and George G. Judge (1993) Learning and Practicing Econometrics
George G. Judge, R. Carter Hill, William E. Griffiths, Helmut Lütkepohl and Tsoung-Chao Lee (1988) Introduction to the Theory and Practice of Econometrics (Second Edition)
G. S. Maddala (1992) Introduction to the Theory and Practice of Econometrics (Second Edition)     

Heritage tours and trails on foot in Hong Kong: towards a typology that crosses the tourist-local divide

Hong Kong's retrocession to Chinese sovereignty in 1997 initiated intense interest in cultural heritage on the part of divergently positioned actors, including activists, the state, and entrepreneurs. Heritage walking tours have proliferated, providing a wide range of examples suitable for comparison. This article develops a typology of heritage trails and tours in order to consider how they are situated in relation to the tourist economy and local context. Theoretically it builds on insights in new walking studies and debates in tourism and heritage studies on the ‘tourist-local divide.’ The article relies on qualitative research conducted in Hong Kong, including participant observation and interviews, and a review of various secondary sources. The typology distinguishes between government-generated, market-oriented, and community-based heritage walks. Three key issues are discussed: the ways that tours and trails develop, how they engage with official and unofficial heritage places, and how they reference urban issues including state-led urban renewal and redevelopment. The article argues that, while walking in general is a format that is suited to both tourist and local visitor engagement, some trails and tours reinforce dominant narratives of heritage and urban space, while others challenge them.     

An economic analysis of farm forestry as a means of controlling dryland salinity

Large areas of agricultural land under conventional crops and pastures are at risk of dryland salinisation in Australia. The salinisation problem can be controlled by strategic and large-scale planting of trees; however, farm forestry enterprises evaluated with conventional discounting techniques do not generally rank as an attractive alternative to annual crops on productive land. In this article, an optimal control model that explicitly accounts for decline or improvement in land quality over a period of 40 years is presented. The optimal area planted to trees and the optimal groundwater-table trajectory through time are determined under a variety of scenarios. Implications of the results for policy design are discussed.     

Exemplification effects: responses to perceptions of risk

Exemplification theory asserts that message components that are iconic and emotionally arousing are easily accessed, and are therefore relied upon when making subsequent behavioral decisions. A reanalysis of data from three studies collected at different times, unrelated experimental stimuli (terrorism, food ingredients, and bed bugs), different media (visual and print), varying geographic locations, different experimental conditions (laboratory and online), and diverse participants suggests that these processes work differently for men and women. Results suggest that the medium through which an exemplar is presented and/or experienced may be fairly inconsequential, but there are underlying processes which may determine the extent to which individuals will modify behavioral intentions related to risks. After witnessing exemplified portrayals, women were more likely than men to express a desire to modify behavior, perceive themselves as more susceptible to the risk, and perceive the risk as being more severe across the studies. The findings are discussed in terms of directions for future research and implications for risk communication practitioners.     

A Note on Equivalent Fixed Rate and Variable Rate Loans; Borrower's Perspective

A common situation is where a borrower is offered the choice of two types of loans—a fixed interest rate loan for a fixed period or a variable interest (floating interest) rate loan. Usual wisdom and advice is that the borrower opts for the fixed rate loan if interest rates are anticipated to rise in the future or opts for the variable rate loan if interest rates are anticipated to fall. However, depending on the magnitude of the rates offered, and the rate uncertainty in the market, such wisdom may not always be well founded. This note demonstrates why this might be. It derives a readily usable, low-mathematical-background expression showing, for borrowers, when fixed and variable rate loans are equivalent and when one rate type is better/worse than the other.     

What is the role of perceived leadership capacity in presidential politics?

The relevance of leadership models in presidential leadership, and principally the role of perceived leadership in presidential election years, is an area of study with limited development but increasing importance. This study explores the relationship between young voters' leadership assessment of presidential candidates, Barack Obama and John McCain, and their reports of voting behavior during the 2008 presidential election. Leadership perceptions were collected from 812 respondents prior to the election. Results indicate that candidate leadership assessments have a significant effect on candidate preference after controlling for the impact of party identification and self‐perceived political efficacy. Further, political efficacy significantly impacted respondents' intent to vote in the election after controlling for these same variables. Party affiliation produced significant differences across the political ideology, leadership ratings, political efficacy, and likelihood of voting variables. The study concludes with a discussion of the implications as they pertain to political leadership.     

International Investment Agreements and the Escalation of Private Power in the Global Agri-Food System

Journal of Business Ethics - Using food regime analysis, this paper critically analyzes how corporate actors amass, secure and apply power in the global agrifood system through International...