In 1933, Edward H. Chamberlin published the Theory of Monopolistic Competition (1962). The work, based upon a dissertation submitted for a PhD degree in Harvard University in 1927…
Abstract
In 1933, Edward H. Chamberlin published the Theory of Monopolistic Competition (1962). The work, based upon a dissertation submitted for a PhD degree in Harvard University in 1927 and awarded the David A. Wells prize for 1927–28, has since become a milestone in the development of economic thought. Its impact on industrial organisation theory, general equilibrium and welfare economics, international trade theory and, to a greater or lesser degree, all other branches of economic analysis, has been pervasive and enduring. The ideas set out in the book have been developed, expanded and refined in ways too numerous to be identified precisely, and the books and articles which take Chamberlin's contribution as a starting point arguably exceed in number those on any other single subject in the lexicon of economics.
Adam Pawlicz and Tomasz Napierala
This study aims to measure the effect on prices through the differing characteristics and attributes of hotels.
Abstract
Purpose
This study aims to measure the effect on prices through the differing characteristics and attributes of hotels.
Design/methodology/approach
A hedonic price model (HPM) was adopted to estimate the impact of various site and situational factors on hotel prices in Warsaw, Poland. To better understand room rates not explained by HPM, spatial analysis of residuals was used. Datasets regarding prices from three different online travel agents (OTAs) and star ratings, either official or provided by OTAs, were investigated.
Findings
A significant impact on hotel prices by star rating has been confirmed. Every additional star allows the hotel to set approximately 25 to 36 per cent higher prices, which is in line with previous studies. Moreover, two factors indicated a high but still underestimated theoretical hotel prices: location within the city centre and proximity to the international airport.
Practical implications
The results of this study suggest that hoteliers should use a spatial analysis of room rates offered by the competing enterprises. Moreover, managers are expected to verify their price tactics and policies according to the geographical determinants of hotel prices investigated.
Originality/value
The uniqueness of the study is highlighted by comparison of HPMs based on data from different OTAs, analysing differences in HPMs based on star ratings provided by OTAs and official systems and spatial analysis of residuals of estimated HPMs. Moreover, this study is among the first to examine the usage of HPM in the hospitality industry in East-Central Europe.
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This chapter maps existing patterns of broad-based worker ownership and control in contemporary advanced capitalism and considers future possibilities for expanding democracy…
Abstract
This chapter maps existing patterns of broad-based worker ownership and control in contemporary advanced capitalism and considers future possibilities for expanding democracy within firms. Section one discusses worker ownership and control arrangements in relation to different theories of the firm and shows how these arrangements map onto different national systems. Section two compares Germany, which is characterized by worker control without ownership, and the United States, which is marked by worker ownership without control. Section three explores three pathways through which broad-based worker ownership and control might be deepened and more strongly coupled in the future.
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Panagiotis Dontis-Charitos, Orla Gough, K. Ben Nowman and Sheeja Sivaprasad
We investigate the return and volatility spillovers from major UK banks to Financial Times Stock Exchange 100 (FTSE 100) index using Gaussian estimation and continuous time models…
Abstract
We investigate the return and volatility spillovers from major UK banks to Financial Times Stock Exchange 100 (FTSE 100) index using Gaussian estimation and continuous time models as well as discrete time multivariate GARCH (MGARCH) modelling approaches. Using daily, weekly and monthly data over the period December 1999–December 2010, which includes the recent 2007–2009 global financial crisis, empirical estimates of uni- and/or bi-directional return and volatility spillovers are provided. The bivariate MGARCH results reveal strong return spillovers from the FTSE to the banks, and no return spillover from the latter to the FTSE. Nevertheless, strong bi-directional volatility transmission is verified. The continuous time analysis provides mixed evidence of feedback effects over the different models.
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Maria Bengtsson and Sören Kock
Traditionally the relationships between competitors in the industrial market have been based on competition. The network approach and literature about strategic alliances have…
Abstract
Traditionally the relationships between competitors in the industrial market have been based on competition. The network approach and literature about strategic alliances have provided new insights into cooperation between firms based on the value chain. The empirical findings from two in‐depth studies, the rack and pinion industry and the lining industry, show that a firm can be involved in four different types of horizontal relationships at the same time. Apart from relationships consisting of competition or cooperation, a firm can live in symbiosis by coexisting with other relationships, or being involved in a relationship simultaneously containing elements of both cooperation and competition. Consequently, a successful firm needs to focus on relationship management in order to achieve a portfolio consisting of the four types of relationships to other horizontal firms.
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Jacquelin Meno Gouniai, Kyle David Smith and Kimberly Glazier Leonte
Obsessive-compulsive disorder (OCD) is a serious mental health condition that is frequently misdiagnosed and left untreated for extended periods. A contributing factor may be the…
Abstract
Purpose
Obsessive-compulsive disorder (OCD) is a serious mental health condition that is frequently misdiagnosed and left untreated for extended periods. A contributing factor may be the lack of awareness regarding OCD’s heterogeneous symptom presentations in nonpsychiatric medical providers (MPs). Nonpsychiatric MPs are often consulted by those with OCD and are thus in a key position to first identify the symptoms in a person. Thus, the purpose of this study is to assess nonpsychiatric MPs’ ability to recognize varying symptom presentations of OCD.
Design/methodology/approach
The current study examined OCD recognition rates in 105 nonpsychiatric MPs practicing on Guam – a rural island community with limited mental health resources. Participants were randomly assigned to read one of six vignettes describing a common obsessional theme within OCD (i.e. contamination, symmetry, religion, homosexuality, pedophilia or aggression) and asked to provide their diagnostic impressions.
Findings
Over half of participating MPs (58.1%) did not recognize the condition in the vignettes as OCD. As groups, vignettes describing taboo obsessions were significantly less likely to be recognized as OCD than those describing contamination and symmetry obsessions. Overall, results reveal that MPs are largely unaware of the diversity of OCD symptoms.
Originality/value
Few studies have examined nonpsychiatric MPs’ awareness of varying OCD symptom presentations, and to the best of the authors’ knowledge, no studies to date have been conducted on MPs practicing in rural settings. The findings of this study can inform training programs for MPs to help decrease OCD misdiagnoses in medical settings.
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Sameer Mathur and Ashish Dubey
This paper identifies and models the effect of eight attributes that influence hotel room rents in India. These attributes are conceptually grouped into three factors: (1) site…
Abstract
This paper identifies and models the effect of eight attributes that influence hotel room rents in India. These attributes are conceptually grouped into three factors: (1) site factors including the presence or absence of a “swimming pool,” “free breakfast,” and the “hotel capacity”; (2) situational factors including, “distance from the airport,” “weekend/weekday,” “city population,” “cost of living”; and (3) a reputation factor indicated by “star rating.” Our regression model uses secondary data collected from a hotel booking website for 570 hotels across 18 cities of India. The results indicate that six out of these eight variables namely, presence of swimming pool, free breakfast, hotel capacity, distance from the airport, city population, and hotel star rating have a significant impact on hotel room rents in India.