The purpose of this study is to build on the results recently obtained by Poznanski (1990). First, the estimation technique is generalised by removing both the symmetric restrictions and the effects of autocorrelated errors that are present in simple logistic functions. Secondly, attention is drawn to the existence and consequences of multicollinearity when non linear techniques are applied to a general exponential. Thirdly, an attempt is made to quantify the importance of market structure and time lags in adoption as determinants of diffusion speed. Finally, a comparison between these generalised results and Poznanski's is made.The study concludes that, by generalising the estimation technique, some significant changes take place. Changes occur in the ordering and magnitude of diffusion speeds, especially amongst the developing and centrally planned economies. Changes also occur in the nature of the diffusion process, and in the importance attributed to market structure and diffusion lags in determining the rate of diffusion. It is also shown that, for some countries, multicollinearity imposes constraints on the type of generality that can be obtained. 相似文献
We present a model featuring irreversible investment, economies of scale, uncertain future demand and capital prices, and
a regulator who sets the firm’s output price according to the cost structure of a hypothetical replacement firm. We show that
a replacement firm has a fundamental cost advantage over the regulated firm: it can better exploit the economies of scale
because it has not had to confront the historical uncertainties faced by the regulated firm. We show that setting prices so
low that a replacement firm is just willing to participate is insufficient to allow the regulated firm to expect to break
even whenever it has to invest. Thus, unless the regulator is willing to incur costly monitoring to ensure the firm invests,
revenue must be allowed in excess of that required for a replacement firm to participate. This contrasts with much of the
existing literature, which argues that the market value of a regulated firm should equal the cost of replacing its existing
assets. We also obtain a closed-form solution for the regulated firm’s output price when this price is set at discrete intervals.
In contrast to rate of return regulation, we find that resetting the regulated price more frequently can increase the risk
faced by the firm’s owners, and that this is reflected in a higher output price and a higher weighted-average cost of capital. 相似文献
Using New Keynesian models, we compare Friedman's k‐percent money supply rule to optimal interest rate setting, with respect to determinacy, stability under learning and optimality. First we review the recent literature: open‐loop interest rate rules are subject to indeterminacy and instability problems, but a properly chosen expectations‐based rule yields determinacy and stability under learning, and implements optimal policy. We show that Friedman's rule also can generate equilibria that are determinate and stable under learning. However, computing the mean quadratic welfare loss, we find for calibrated models that Friedman's rule performs poorly when compared to the optimal interest rate rule. 相似文献
The present research involves determinant component analysis [3]. Specifically, the study assesses which components—price, product or environmental—are most important in the design of new entry strategy. Under conditions of abundance, industrial firms primarily analyzed price and product characteristics when making new product decisions. In choosing one supplier over another the stalwart buying motives have been quality, service and price [4]. However, these decision components were conceptualized in a period of abundance. Under conditions of scarcity, are price and product characteristics still important? Are environmental dimensions perhaps more important under shortage conditions when making new product decisions? Besides describing the key components that may be considered in new product programming, the article also outlines an approach that may be used to find determinant decision components. 相似文献
This paper shows that two related aspects of attention platforms are important for the sound economic analysis of public policy including antitrust: first, attention platforms generate valuable content. Even though people often don’t pay for content, we know from revealed preference that content is valuable because people spend a considerable amount of time—which has an opportunity cost—consuming it. Second, demand for advertising and the supply of content are interdependent. A decrease in the demand for advertising reduces the returns to supplying content and therefore the amount of content that is provided. Accounting for the value of content and these positive feedbacks cannot determine optimal interventions; but failing to do so can result in policies that reduce consumer—as well as advertiser—welfare. The paper then considers the implications of these considerations for public policy: particularly privacy regulation and antitrust enforcement. From the standpoint of promoting consumer welfare, the failure to account for the value of content and the ad-content interdependencies increases the chances that authorities do not intervene when they should and do intervene when they should not.
This study represents an analysis of the changes in the environment, context and structure of an organization, using the full Aston Interview Schedule.2 The limitations of generalizing from a single case are acknowledged, but the longitudinal analysis provides support for the notion that organizations can and do develop self-evaluative capacities when threatened by external change. The results of the process of self-evaluation on the part of the organization are shown as changes in the organization's scores on the various scales of organizational context and structure developed by the Aston school, at two points in time. These changes provide support for a number of conjectures arising from previous analyses of the relationships among the structural dimensions of organizational form displayed by the Aston methodology; notably the relationship between size/standardization and centralization/standardization. The analysis also suggests that the centralization scale can be viewed as having two components – one related to policy decisions, the other to operational decisions. 相似文献
Adaptive strategies that facilitate economic and socio-cultural interaction in a West Mexican resort community, Puerto Vallarta, are examined over time. The special role played by bilingual culture brokers and the presence of both seasonal and resident foreigners contribute to rapid culture change, the expansion of tourism, and strenghening ethnic identity. This paper focuses on the spatial, temporal, linguistic, and cultural factors that mediate between the various types of guests and the host country. 相似文献
Abstract The literature shows that two patterns of communication exist in an R&D environment, one dominated by a project system and the other directly related to distance. A study was made of the communication patterns of two laboratories about to merge. The study was able to show that differences do exist between the two laboratories, mainly because of the geographical differences on the two sites, but overall communication patterns were similar. These patterns showed that the number of communications did drop off with distance but work contacts and a project system override the distance factor. 相似文献
Reducing tax system complexity is a common goal amongst policymakers; yet there is no commonly agreed definition of complexity. This paper seeks to fill this gap, by proposing the construction of an index of tax system complexity, conceived as a summary indicator of the overall complexity of a tax system at a particular point in time. If adopted, such an index would not only enable assessment of the changing level of a country's tax system complexity over time, but may also facilitate comparisons of the relative complexity of different countries' tax systems in future. 相似文献