Multiple Listing Service Subsidies and Economic Efficiency

In an earlier article in this journal, Sefton and Yavas (1995) concluded that subsidizing a monopoly multiple listing service (MLS) can be efficient when the curvature of the representative consumer's demand function leads to overshifting. This paper extends their analysis to a multiple-consumer demand model. It shows that, for the generalized demand configuration considered here, in general, there is no Pareto superior MLS subsidy supportable by nondiscriminatory MLS consumer taxes when the Pareto ranking is imposed without the Hicks–Kaldor compensation principle.     

Canals, coal and regional growth during the industrial revolution

… the great expence [sic] of land carriage will ever deprive us of many useful and desirable articles, particularly mines and minerals, which must lie dormant in the bowels of the earth, to the great loss of the landowner and the public, unless some more cheap and expeditious way of carriage be opened to the internal parts of the country. ¹
… there can be no doubt that a greater extension of our distant navigation has arisen from a system which has, in effect, converted the internal parts of our island into coasts. ¹     

Consumer behaviour reflected in store and clothing selection criteria: a pilot study in Canada and England

Similarities and differences in selected clothing acquisition behaviour at two independent sites have been investigated using the Engel, Blackwell and Miniard consumer behaviour model as the conceptual framework. Similar clothing values orientations were found, supporting the assumption of a common Anglo-root culture at both sites. The paper focuses on an outcome of the values issue, namely store selection criteria and clothing evaluative criteria used by university students in Winnipeg, Canada and Newcastle upon Tyne, U.K. Respondents at both sites rated the store selection criteria and clothing evaluative criteria in similar orders of importance. Significant Spearman rank correlation coefficients for store selection criteria (r_s= 0-95) and clothing evaluative criteria (r_s= 0-88) suggest that the common Anglo-root culture of the Winnipeg and Newcastle participants has more influence on the alternative evaluative stage of the decision-making process than marketing stimuli and strategies found at each site. When individual criteria were compared across sites, only three of the ten store selection criteria gave statistically different responses, while three of the 21 clothing evaluative criteria were found to be statistically different.     

Defending Dock Workers—Globalization and Labor Relations in the World's Ports

Globalization has precipitated a major restructuring of the world's ports and brought in its wake a marked deterioration in dock workers’ terms and conditions of employment. Many trade unions have found it difficult to protect their members’ interests against this international “race to the bottom,” most notably in those countries where dock labor has been historically poorly organized but also where industrial restructuring has been used as a vehicle to de‐unionize the industry. Other unions have been more successful, either by working in concert with private employers and public port authorities or by mobilizing their membership to contest and contain the process of industrial restructuring.     

Empirical Tests of Boundary Conditions for Toronto Stock Exchange Options

Using option and stock transaction data for the period 1978–1979, three issues were investigated: first, the conformance of observed prices to various boundary conditions; second, the evolution of the market over time, as the volume of trading and the number of listed options increased; and third, to test the efficiency of the market. It was found that violations did occur. Using a trading rule based on the signal of observed violations, the results suggest that even after transaction costs the market was inefficient over the sample period.