The production and trade of manufactured products in the EEC and EFTA: A comparison

This paper presents an examination and comparison of trade creation and trade diversion in the EEC and EFTA. The methodology is based upon changes in shares of expenditure on apparent consumption of manufactured products between 1960 and 1968 on a disaggregated basis. The results indicate that there was considerable trade creation and only a modest amount of trade diversion for each trade bloc. In fact, there was in the aggregate net external trade created due largely to an expansion in imports from outside of either trade bloc and the United States. Despite their different memberships and tariff experiences, the results for the two trade blocs are remarkably similar.     

Technology, markets and the design of women's jobs—the case of the clothing industry

The clothing industry has been saved largely as a result of the introduction of new technology in response to an increasingly competitive market place. But what affect has this restructuring had upon jobs? We explore how women workers have experienced this change and why policy-making should consider job design.     

RECIPROCITY IN INTERNATIONAL TRADE

This article is in two parts. First, the theoretical basis underlying the possibility of reciprocity in trade is stated. Secondly, a study has been made of statistics of post war trade between the U.K and its major trading partners in an attempt to see whether any evidence of reciprocity emerges and, if so, the nature of the relationship. Doubt is cast on the supposition that a calculation of net import saving is a reliable short-run estimate of net balance of payments contribution of an expansion of U.K. agriculture. Finally, the results of the analysis are applied to the level of import saving projected by the National Economic Development Committee's Report on “Agriculture's Import Saving Role”.     

Relationships of Perceived Justice to Service Recovery,Service Failure Attributions,Recovery Satisfaction,and Loyalty in the Context of Airline Travelers

In recent years, hospitality and tourism researchers have presented their findings of many studies on website performance and evaluations. Although these prior studies have achieved a certain degree of success for assisting industrial practitioners to develop and maintain their websites, it remains largely unknown how consumers find a specific travel or hotel website. This paper reports a study that investigated the perceived importance of different channels for finding travel or hotel websites from an international travelers' perspective. Empirical results from 153 travel or hotel website users indicated that the Google search engine was the only channel that was perceived as important, and 47.4% of the respondents viewed up to three screens in the list of search results when using search engines. The paper should be of interest to industrial practitioners and academic researchers to understand better the behavior of users of travel and hotel websites during their website search procedure.     

Knightian decision theory. Part I

A theory of choice under uncertainty is proposed which removes the completeness assumption from the Anscombe–Aumann formulation of Savage's theory and introduces an inertia assumption. The inertia assumption is that there is such a thing as the status quo and an alternative is accepted only if it is preferred to the status quo. This theory is one way of giving rigorous expression to Frank Knight's distinction between risk and uncertainty. Received: 8 October 2001 / Accepted: 8 November 2001 The author is grateful to Martin Shubik for encouragement and long discussions. He is also grateful to Donald Brown, Edward Leamer, David Schmeidler, Martin Shubik, Sidney Winter, Asad Zaman and Arnold Zellner for calling his attention to relevant literature. Note of the Editor: Except for a few minor editorial changes, this article publishes content formerly circulated as Discussion Paper no.~807 of the Cowles Foundation at Yale University, November 1986.     

MEASURING CASH FLOWS BY FARM TYPE*

Data from the records of 68 Ontario farmers indicate significant variarion in levels and seasonality of cash flows among several major types of farms. Hence farm type may be a useful classification for data gathering and analysis of financial position. Major differences in level of borrowing between farm types can be attributed to the relative use of agribusiness credit and to seasonal fluctuations in net cash receipts. Des données prises des enregistrements de 68 exploitants ontariens indiquent ?exploitation parmi plusiers types principals de fermes. Done, le type ?exploitation peut être une classification utile pour la collection de données el pour ?analyse de la position financiére. Des differences importantes de niveau ?emprunt parmi des types ?exploitation peut étre attribuées à?utilisation relative de “crédit agribusiness” ainsi qu'aux fluctuations saisonières des recettes comptants nets.     

An integration of equilibrium theory and turnpike theory

A turnpike theorem is proved for a general equilibrium model with finitely many immortal consumers.