Economics and underdetermination: a case study of urban land and housing economics

Underdetermination, associated with the Duhem–Quine thesis,is a familiar if under-researched theme in economics. In thelight of this, we examine the development of urban land andhousing economics. Through its Cartesian dualistic delineationof theory and data, the contemporary mainstream approach appearsunable to circumvent the problem of underdetermination. In effect,it employs the strong version of Duhem–Quine in its retentionof the assumption of a single, unitary competitive market (andassociated access–space trade-off). Conversely, we highlightthe affinity of Ely's (and the later Columbia School's) approachto pragmatists Dewey and Peirce, which provides a more fruitfulbasis for explanation.     

Predicting information seeking regarding hurricane evacuation in the destination

The study examined the roles of tourists' risk beliefs, connectedness, hurricane knowledge, and their past experiences with hurricane impacts in relation to their information seeking behavior regarding hurricane evacuation while in the destination. Surveys were collected from tourists who were visiting Florida in September 2011, during the Atlantic hurricane season. Findings from this study reveal and confirm the existence of the critical relationship among tourist information seeking, past experience with hurricanes, individual risk beliefs, and level of knowledge. It is recommended that destination managers make investments in hurricane communication messages, which target a wide array of tourists. The effectiveness of hurricane evacuation information is linked to the receptiveness of the content of the message by differing groups.     

Nested model comparison with structural equation approaches

Potential problems with the conventional nested model comparison procedure in the structural equation models context are discussed. It is argued that fixing parameter values might lead to creation of different unobservables in the nested model. A number of alternative ways of conducting model comparisons are reviewed and applied in a marketing example.     

Recycling consumer solid waste: A commentary on selected channel alternatives

The recycling of consumer solid waste presents special problems for reverse marketing channels. Specifically, the accumulation of bulk quantities of homogenous materials from consumer-generated sources that are highly heterogenous in nature represents a major functional problem that must be overcome through the development of appropriate reverse marketing channels. In this article, factors influencing reverse channels development are outlined, and specific marketing implications concerning the three basic channel types that primarily handle consumer solid waste are discussed.     

Richard Y.Lee：Act today to Presume Tomorrow

Like many other entrepreneurs, Richard Lee＇s road to success is full of adventures and difficulties.     

Of lessees,lessors, and discount rates and whether pigs have wings

Recent articles on leasing suggest five principles that should aid analysts to understand this durable, much misunderstood financial instrument. The principles are 1) the lessor must be happy too, 2) the operating inflows have nothing to do with the case, 3) financial, like physical, matter tends to be preserved, 4) debt is a function of after-tax flows, and 5) inability to use tax shelters cuts two ways. In this paper we illustrate these principles and use illustrations to demonstrate that each of these principles has merit. We argue as well that the impression, often left by the principles, that leasing seldom benefits all parties to the transaction is incorrect.     

Are price strategies effective in managing demand of high residential water users?

Encouraging water use efficiency and water conservation is one of the primary goals of water utility companies nationwide. This study estimates price elasticity of residential water demand to measure the responsiveness of water use to price changes, particularly for high water users. Household-level water use data for high residential water users from Central Florida were analysed using 3-stage least square (3SLS). Estimated price elasticity ranges between ?0.07 and ?0.14. This price elasticity estimate is below most of the estimates reported in the literature (in absolute value). The results imply that for price strategies to be effective in managing water demand of high residential water users, a significant price increase would be needed. Overall, this study highlights the importance of designing water conservation policies tailored to specific groups of customers, and the importance of using these strategies effectively and fairly for different customer groups.     

Political risk analysis for Canada and Mexico

A new methodology for political risk analysis was developed and applied to Canada and Mexico. The ideas of an interdisciplinary team of corporate and country experts were obtained in mid-1982 via a two-round Delphi inquiry on socioeconomic change and a survey on business contingencies in Canada and Mexico. The information provided by the panelists was used to describe possible future conditions in Canada and Mexico in the context of alternative U.S. and international conditions.     

A new approach for measuring wage ignorance in the labor market

In this article we offer a new econometric approach to the evaluation of information content within labor markets. We define ignorance as the difference between the wage (price) individuals earn (pay) with full information and the wage (price) they actually receive (pay) given their limited information stocks, and we make use of a frontier production function approach to measure ignorance for various markets. Our empirical results are highly consistent with the analytical results in six areas of search theory. Furthermore, our results suggest a new interpretation of the role of unions.