A reformulation of the theory of demand by compensated demand functions

We present a formal approach to consumer demand by compensated demand functions. In accordance with the integrability theory or with the theory of revealed preference, we do not require the existence of a utility function, but we do assume certain hypotheses concerning functions describing rational behavior. In view of their properties, these functions can be interpreted as compensated demand functions. According to traditional neoclassical consumer theory, Shephard's lemma and the symmetry and negative semidefiniteness of the Slutsky-Hicks matrix can be shown. We shall also see that a convex, continuous, and monotonic preference ordering, which is representable by income compensation functions, can be introduced. It can also be shown that the existence of a compensated equilibrium can be derived within this approach by compensated demand functions. In order to obtain the existence of a compensated equilibrium under less stringent conditions we finally generalize the axioms assuming that a compensated demand correspondence is given.     

The influence of service orientation discrepancy between managers and employees on employees’ affective outcomes

This study attempted to relate service orientation discrepancy (SOD) between employees and managers to employees’ affective reactions [role conflict (RC), role ambiguity (RA), job satisfaction (JS), and organizational commitment (OC)] in the restaurant industry. The findings of the study indicate that there is a SOD between managers and employees; employees saw themselves as more enthusiastic and less bureaucratic than managers. When this SOD was correlated with employee outcomes such as RC, RA, JS, and OC, the results indicated that SOD had a direct effect on RC, JS and OC. SOD also had indirect effects on JS, and OC through RC and RA. RC had a direct effect on JS and an indirect effect on OC. RA had a direct effect on JS. Finally, JS had a direct effect on OC.     

Fijian culture and the environment: a focus on the ecological and social interconnectedness of tourism development

Understanding the complex and adaptive nature of Pacific Island communities is a growing yet relatively unexplored area in the context of tourism development. Taking an ethnographic research approach, this study examines how over 40 years of tourism development have led to complex and multi-scale changes within an Indigenous Fijian village. The study establishes that tourism development has brought a range of ecological shifts that have, over time, spurred far-reaching changes within the embedded sociocultural constructs of the community. The development of the Naviti Resort, a water catchment dam, a causeway and a man-made island have created substantial changes in totemic associations, livelihood approaches, and traditional knowledge structures within Vatuolalai village. The emergence of internal adaptive cycles, and new behaviours, practices and values that redefine the cultural landscape will be discussed. This paper demonstrates the interconnectivity of nature, society and culture within Indigenous communal systems and asserts that ecological changes introduced in one part of a community stimulate complex, non-linear responses in other elements of the socio-ecological system of a Fijian village.     

Solesolevaki as social capital: a tale of a village,two tribes,and a resort in Fiji

This paper advances understanding of the complex and adaptive nature of indigenous Fijian communities involved in tourism. It examines how tourism-related development has set the people of one Fijian village along two separate development pathways, and explores how preferential access to tourism benefits has created disparities within the community. Complex Adaptive Systems theory and Social Capital theory are used to conceptualise how over 40 years of tourism involvement has influenced development within an indigenous Fijian community. The findings argue that indigenous Fijian communities are non-homogeneous entities, which are constantly in transition, responding and adapting integratively to both internal and external changes over time. The findings show that the emergence of new behaviours and ways of life has led to the collapse of the pre-existing systems of social capital. As a response, community members retreated and regrouped, strengthening internal bonds and social capital in their smaller social units, leading to both dependency and opportunity-seeking behaviours among participants. Ultimately, the paper asserts that money alone does not lead to development, but rather tourism and access to a variety of capital do.     

Being Good Parents or Being Good Citizens: Dilemmas and Contradictions of Urban Families in Middle‐Class Enclaves and Mixed Neighbourhoods in Germany

In recent years, cities have become ever more attractive to middle‐class families. On the one hand, middle‐class families tend to withdraw into (often newly built) socially homogeneous middle‐class neighbourhoods. On the other hand, they are also known to move into inner‐city and socially mixed areas, thus triggering processes of gentrification. Academic literature has often denounced these housing choices as being either ‘separatist’ or ‘revanchist’, more broadly categorized as strategies of ‘middle‐class disaffiliation’. Although there is a grain of truth in these interpretations, the reality is certainly more complicated. In our research on middle‐class parents’ housing and neighbourhood choices as well as their patterns of neighbourhood use, carried out in each of the two types of residential area mentioned above, we have only very rarely found an explicit desire to draw boundaries that exclude those ‘beneath’ them. We rather argue that the housing choices and neighbourhood‐related activities of middle‐class family households are heavily influenced by the specific dilemmas the interviewees face as (working) urban parents. While a significant number of respondents worry about the social sustainability, justice and cohesion of urban society, they are also concerned about the future prospects of their children. Many find it difficult to reconcile these conflicting normative demands under the prevailing circumstances.     

Steuerpolitik und Wirtschaftswachstum

The design of the tax system matters for economic growth. During times of economic crisis, tax instruments such as temporary tax cuts can be used to soften adverse effects on the economy by stimulating private and corporate spending. However, empirical evidence suggests that the overall impact of short term tax policies is limited. In the long run, the structure of the tax system is essential to building up an investment friendly and innovation-stimulating environment, which will promote sustainable economic growth.     

Optimal Portfolios with Bounded Capital at Risk

We consider some continuous-time Markowitz type portfolio problems that consist of maximizing expected terminal wealth under the constraint of an upper bound for the capital at risk. In a Black–Scholes setting we obtain closed-form explicit solutions and compare their form and implications to those of the classical continuous-time mean-variance problem. We also consider more general price processes that allow for larger fluctuations in the returns.     

Cause-related marketing 2.0: Connection,collaboration and commitment

The article aims to explore and revise cause-related marketing (CRM) in light of an emerging concept of the market and the roles assigned to companies and consumers in marketing communication processes. Based on a dialogical reflexive approach to case studies, we take our point of departure in theoretically identifying key CRM constituents and their interrelations, and we show how current theories within CRM build upon axioms of a traditional firm-centric view on value creation and fail to meet the challenges of new market structures and relations. This tension of axioms provides a point of direction for introducing the Pepsi Refresh Project as a case illustration of an alternative CRM practice that redefines CRM from company-driven to community-driven – and points towards relocating CRM from an overt to a covert brand and marketing communication strategy. CRM becomes a joint value- and identity-constructing practice transforming consumer criticism into brand involvement and community commitment. By reflexively merging theoretical and case insights, the contribution of the article lies in the revisiting of existing CRM theories in the context of connected, critical and empowered consumers and the subsequent outlining of what we suggest to be CRM 2.0.     

An Analysis of British Postgraduate Courses in Tourism: What Role does Sustainability Play within Higher Education?

Sustainability has offered a new dimension to policy making, managing and planning in tourism. Government bodies, councils and tourist boards are engaged in the discussion evolving around tourism and sustainability. Yet little research has been conducted to investigate whether the sustainability debate has also altered the dimensions in training postgraduate students. This research sheds light upon the supply structure of postgraduate tourism education in the UK. Using course and unit titles as signifiers, 81 courses and 504 unit titles were scanned for sustainable elements, and are discussed in the context of the various providing schools and faculties. Unit titles are categorised according to their core and optional character. A first comprehensive nation-wide inventory of postgraduate courses in tourism has been generated, which identifies and critically discusses sustainable elements across the range of courses and units on offer.