Random error in willingness to pay measurement: A multiple indicators, latent variable approach to the reliability of contingent values

The reliability of measurement refers to unsystematic error in observed responses. Investigations of the prevalence of random error in stated estimates of willingness to pay (WTP) are important to an understanding of why tests of validity in CV can fail. However, published reliability studies have tended to adopt empirical methods that have practical and conceptual limitations when applied to WTP responses. This contention is supported in a review of contingent valuation reliability studies that demonstrate important limitations of existing approaches to WTP reliability. It is argued that empirical assessments of the reliability of contingent values may be better dealt with by using multiple indicators to measure the latent WTP distribution. This latent variable approach is demonstrated with data obtained from a WTP study for stormwater pollution abatement. Attitude variables were employed as a way of assessing the reliability of open-ended WTP (with benchmarked payment cards) for stormwater pollution abatement. The results indicated that participants' decisions to pay were reliably measured, but not the magnitude of the WTP bids. This finding highlights the need to better discern what is actually being measured in VVTP studies, (C) 2003 Elsevier B.V. All rights reserved.

Chronic macro-economic and financial imbalances in the world economy: a meta-economic view

Global finance, combining offshore banking and universal banks to drive a broader globalization process, has transformed the modus operandi of the world economy. This requires a new "meta-economic" framework in which short-term portfolio-investment flows are treated as the dominant phenomenon they have become. Organized by global finance, these layered bi-directional flows between center and periphery manage a tension between financial concentration and monetary fragmentation. The resulting imbalances express the asymmetries built into that tension and render the exchange rate a more strategic policy variable than ever.

Estimating economic interactions of financial suppliers in Thailand

This paper presents a methodology to estimate and identify different kinds of economic interaction, whenever these interactions can be established in the form of spatial dependence. First, we apply the semi-parametric approach of Chen and Conley (2001) to the estimation of reaction functions. Then, the methodology is applied to the analysis financial providers in Thailand. Based on a sample of financial institutions, we provide an economic framework to test if the actual spatial pattern is compatible with strategic competition (local interactions) or social planning (global interactions). Our estimates suggest that the provision of commercial banks and suppliers credit access is determined by spatial competition, while the Thai Bank of Agriculture and Agricultural Cooperatives is distributed as in a social planner problem.

Penalty Enhancement for Hate Crimes: An Economic Analysis

The issue of bias-motivated crimes has attracted consderable attention in recent years. In this paper, we develop an economic framework to analyze penalty enhancements for bias-motivated crimes. We extend the standard model by introducing two different groups of potential victims of crime, and assume that a potential offender's benefits from a crime depend on the group to which the victim belongs. We begin with the assumption that the harm to an individual victim from a bias-motivated crime is identical to that from an equivalent non-hate crime. Nonetheless, we derive the result that a pattern of crimes disproportionately targeting an identifiable group leads to greater social harm. This conclusion follows both from a model where disparities in groups' victimization probabilities lead to social losses due to fairness concerns, as well as a model where potential victims have the opportunity to undertake socially costly victimization avoidance activities. In particular, penalty enhancements can reduce the incentives for avoidance activity, and thereby protect the networks of profitable interactions that link members of different groups. We also argue that those groups that are covered by hate crime statutes tend to be those whose characteristics make it especially likely that penalty enhancement is socially optimal. Finally, we consider a number of other issues related to hate crimes, including teh choice of sanctions from behind a Rawlsian 'veil of ignorance' concerning group identity.

Communism and Public Opinion in Queensland, 1939-1951 : An Explanation of Queensland's Vote in the 1951 Anti-Communist Referendum

The starting point of this thesis was a desire to explain the rapid demise in the popularity which the Communist Party enjoyed in Queensland during the second world war. Wartime Queensland gave the Australian Communist Party its highest state vote and six years later Queensland again gave the Communist Party its highest state vote - this time however, to ban the Party. From this I was led into exploring the changing policies, beliefs and strategies of the Party, as well as the many sub-groups on its periphery, and the shifts in public response to these. In 1939 Townsville elected Australia's first Communist alderman. Five years later, Bowen elected not only Australia's first but also the British Empire's first, Communist state government member. Of the five electorates the Australian Communist Party contested in the 1944 Queensland State elections, in none did the Party's candidate receive less than twenty per-cent of the formal vote. Not only was the Party seemingly enjoying considerable popular support but this was occurring in a State which, but for the Depression years (May 1929 - June 1932) had elected a Labor State Government at every state election since 1915. In the September 1951 Constitution Alteration Referendum, 'Powers To Deal With Communists and Communism', Queensland regist¬ered the nation's highest "Yes" majority - 55.76% of the valid vote. Only two other states registered a majority in favour of the referendum's proposals, Western Australia and Tasmania. As this research was undertaken it became evident that while various trends exhibited at the time, anti-Communism, the work of the Industrial Groups, Labor opportunism, local area feelings, ideological shifts of the Party, tactics of Communist-led unions, etc., were present throughout the entire period, they were best seen when divided into three chronological phases of the Party's history and popularity. The first period covers the consolidation of the Party's post-Depression popularity during the war years as it benefited from the Soviet Union's colossal contribution to the Allied war efforts, and this support continued for some six months or so after the war. Throughout the period Communist strength within the trade union movement greatly increased as did total Party membership. The second period was marked by a rapid series of events starting in March 1946, with Winston Churchill's "Official Opening" of the Cold War by his sweeping attack on Communism and Russia, at Fulton. Several days later the first of a series of long and bitter strikes in Communist-led unions occurred, as the Party mobil¬ized for what it believed would be a series of attacks on the working class from a ruling class, defending a capitalist system on the verge of an economic collapse. It was a period when the Party believed this ruling class was using Labor reformism as a last desperate 'carrot' to get workers to accept their lot within a capitalist economic framework. Out of the Meat Strike emerged the Industrial Groups, who waged not only a determined war against Communist trade union leadership but also encouraged the A.W.U.-influenced State Labor apparatus to even greater anti-Communist antagonisms. The Communist Party's increasing militancy and Labor's resistance to it, ended finally in the collapse of the Chifley Labor government. Characteristically the third period opens with the Communist Party making an another about-face, desperately trying to form an alliance with the Labor Party and curbing its former adventurist industrial policy, as it prepared for Menzies' direct assault. The Communist Party's activities were greatly reduced, a function of both a declining member-ship and, furthermore, a membership reluctant to confront an increasingly hostile society. In examining the changing policies, beliefs and strategies of the Party and the shifts in public response to these, I have tried to distinguish between general trends occurring within Australia and the national party, and trends peculiar to Queensland and the Queensland branch of the Party, The Communist Party suffered a decline in support and membership right across Australia throughout this period as a result of the national policies of the Party, and the changing nature of world politics. There were particular features of this decline that were peculiar to Queensland. I have, however, singled out three features of particular importance throughout the period for a short but more specifically detailed analysis, than would be possible in a purely chronological study: i.e. the Party's structure, the Party's ideological subservience to Moscow, and the general effect upon it of the Cold War.

A importância da contabilidade analítica e o custeio direto e indireto numa microempresa do setor da cortiça

Dissertação para obtenção de Grau de Mestre em Contabilidade e Finanças Orientador: Mestre António Gonçalves da Silva

Incidencia de la organización mundial del comercio en las relaciones de china y taiwán a partir del acuerdo marco de cooperación económica, en el periodo de 2008-2012

El interés de esta monografía es evaluar en qué medida se han visto afectadas las relaciones políticas de China y Taiwán tras su ingreso a la Organización Mundial del Comercio. Se analiza y se explica cómo las dinámicas comerciales y económicas del sistema internacional actual, inciden en el establecimiento de un dialogo político entre ambas partes del estrecho por medio del Acuerdo Marco de cooperación económica, teniendo en cuenta los antecedentes históricos y el conflicto soberano que involucra a ambos actores. Siguiendo la lógica del neoliberalismo institucional expuesta por el autor Robert Keohane, se planteará como el fenómeno de las organizaciones internacionales llega a tener una importancia tan amplia dentro del sistema que incluso moldea las características políticas determinantes de los Estados, por medio de la imposición de normas institucionales vinculantes.

El contrato de concesión de servicio público. las nuevas técnicas de generación y explotación de infraestructura y las demás aplicaciones que surgen como consecuencia del cambio institucional.

Se trata de una nueva actualización del marco económico de la concesión de servicio público, resaltando principalmente las nuevas aplicaciones que este contrato puede tener en un marco del servicio público liberalizado. De esta manera puede vislumbrarse un nuevo uso generalizado en el control del oportunismo político en materia del régimen tarifario lo que lo erige en un valido instrumento para la preservación de la inversión extarnjera. Del mismo modo puede emplearse como un instrumento para la generación de infraestructura en materia de servicios públicos y finalmente como un instrumento para la regulación alterna de monopolios naturales.