Within the vertical integration literature, it is a long standing proposition that the market level price of a downstream product is invariant with respect to the vertical…
Abstract
Within the vertical integration literature, it is a long standing proposition that the market level price of a downstream product is invariant with respect to the vertical integration and subsequent monopolization of that downstream industry by a lone input monopolist, given that the downstream production process is a fixed proportions technology and that there is competition in all related relevant industries. Consequently, it has been argued that the consumer welfare effects of permitting integration and monopolization by the upstream monopolist are inconsequential. It is also well known that this vertical integration and downstream monopolization will not result in either a greater or a lesser total profit for the lone input monopolist. Thus, it is also argued that there is no incentive for the monopolist to integrate into the downstream industry and monopolize it, given the presence of the fixed proportions technology.
R. BLAINE ROBERTS and ROBERT S. HANSEN
A number of advances in the analysis of durability have appeared recently. There remain, however, some areas of misperception and inaccuracy with regard to the implications of…
Abstract
A number of advances in the analysis of durability have appeared recently. There remain, however, some areas of misperception and inaccuracy with regard to the implications of durability. The purpose of this paper is to clarify two related issues. The first is the issue of which is most profitable under alternative market structures: selling a durable, renting the durable, or selling the services of the durable. Selling the services of the durable differs from renting the durable only in the case where intensity of use is variable. The role of intensity of use has been recently addressed by Epple and Zelenitz and it is their conclusions we wish to amplify. In particular, Epple and Zelenitz's conclusions (i.e., “Rental is not a viable policy under either [monopoly or competition] market structure,” (p. 286) and “However, sale of services would eliminate the costs of short term ownership in the same way as rental,”) are not as likely to be as true as they suggest.
Maxime Desmarais-Tremblay and Marianne Johnson
Alvin Hansen and John Williams’ Fiscal Policy Seminar at Harvard University is widely regarded as a key mechanism for the spread of Keynesianism in the United States. An original…
Abstract
Alvin Hansen and John Williams’ Fiscal Policy Seminar at Harvard University is widely regarded as a key mechanism for the spread of Keynesianism in the United States. An original and regular participant, Richard A. Musgrave was invited to prepare remarks for the fiftieth anniversary of the seminar in 1988. These were never published, though a copy was filed with Musgrave’s papers at Princeton University. Their reproduction here is important for several reasons. First, it is one of the last reminiscences of the original participants. Second, the remarks make an important contribution to our understanding of the Harvard School of macro-fiscal policy. Third, the remarks provide interesting insights into Musgrave’s views on national economic policymaking as well as the intersection between theory and practice. The reminiscence demonstrates the importance of the seminar in shifting Musgrave’s research focus and moving him to a more pragmatic approach to public finance.
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This note presents new archival evidence about John Maynard Keynes’ attitudes toward Jews. The relevant material is composed of two letters sent by Robert G. Wertheimer to…
Abstract
This note presents new archival evidence about John Maynard Keynes’ attitudes toward Jews. The relevant material is composed of two letters sent by Robert G. Wertheimer to Bertrand Russell and Richard F. Kahn along with their replies. Between 1963 and 1964, Wertheimer – an Austrian-born Jewish immigrant then professor of economics at Babson College – wrote to Russell and Kahn asking for their personal reminiscences concerning Keynes’ anti-Semitic utterances. In their brief but still significant responses, both Russell and Kahn firmly denied any hint of anti-Semitism in Keynes, thereby providing significant first-hand testimonies from two of his closest acquaintances.
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The following bibliography focuses mainly on programs which can run on IBM microcomputers and compatibles under the operating system PC DOS/MS DOS, and which can be used in online…
Abstract
The following bibliography focuses mainly on programs which can run on IBM microcomputers and compatibles under the operating system PC DOS/MS DOS, and which can be used in online information and documentation work. They fall into the following categories:
This paper aims to provide an insight into the emergence of the global advertising industry by undertaking a comparison of the respective entries of the advertising agencies J…
Abstract
Purpose
This paper aims to provide an insight into the emergence of the global advertising industry by undertaking a comparison of the respective entries of the advertising agencies J. Walter Thompson and McCann Erickson into the Australian market in the 1930s and 1960s.
Design/methodology/approach
This study undertakes a comparison of the strategies and initiatives implemented by J. Walter Thompson and McCann Erickson as documented in the agencies’ respective archival collections as well as industry press reports.
Findings
The similarities between J. Walter Thompson and McCann Erickson reveal that globalisation of the advertising industry was both driven and restricted in even parts by profitability and pragmatism.
Originality/value
The experiences of the J. Walter Thompson and McCann Erickson agencies in establishing their Australian operations offer a unique, long-term view of the emergence and development of a global advertising industry.
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Brian Snowdon and Howard R. Vane
An interview with Milton Friedman in 1996 ‐ presents his reflections on some of the important issues surrounding the evolution of, and currrent debates within, modern…
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An interview with Milton Friedman in 1996 ‐ presents his reflections on some of the important issues surrounding the evolution of, and currrent debates within, modern macroeconomics. A world‐renowned economist and prolific author since the 1930s, Milton Friedman has had a considerable impact on macroeconomic theory and policy making. Associated mostly with monetarism and the efficacy of free markets, his work has ranged over a broader area ‐ microeconomics, methodology, consumption function, applied statistics, international economics, monetary theory, history and policy, business cycles and inflation. In the interview discusses Keynes’s General Theory, monetarism, new classical macroeconomics, methodology, economic policy, European union and the monetarist counter‐revolution.
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Cady Berkel, Velma McBride Murry, Kathryn J. Roulston and Gene H. Brody
The purpose of this paper is to demonstrate the importance of considering both fidelity and adaptation in assessing the implementation of evidence‐based programs.
Abstract
Purpose
The purpose of this paper is to demonstrate the importance of considering both fidelity and adaptation in assessing the implementation of evidence‐based programs.
Design/methodology/approach
The current study employs a multi‐method strategy to understand two dimensions of implementation (fidelity and adaptation) in the Strong African American Families (SAAF) program. Data were video recordings of program delivery and pre‐test and post‐test interviews from the efficacy trial. Multilevel regression in Mplus was used to assess the impact of fidelity to the manual, coded by independent observers, on racial socialization outcomes. One activity on racial socialization, a core component of the program, was selected for an in‐depth examination using conversation analysis (a qualitative method of analyzing talk in interactions).
Findings
Results of the quantitative analyses demonstrated that fidelity of the selected activity was associated with increases in parent's use of racial socialization from pre‐test to post‐test, but only when participant attendance was included in the model. Results of the qualitative analyses demonstrated that facilitators were making adaptations to the session and that these adaptations appeared to be in line with cultural competence.
Research limitations/implications
The development of quantitative fidelity measures can be problematic, with many decision points to consider. The current study contributes to the evidence base to develop a quantitative measure of adaptation for family‐based parenting programs.
Originality/value
Many researchers examining implementation of evidence‐based programs consider fidelity and adaptation to be polar ends of a single spectrum. This paper provides evidence for the importance of examining each independently.
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Robert Crawford and Matthew Bailey
The purpose of this paper is to explore the value of oral history for marketing historians and provide case studies from projects in the Australian context to demonstrate its…
Abstract
Purpose
The purpose of this paper is to explore the value of oral history for marketing historians and provide case studies from projects in the Australian context to demonstrate its utility. These case studies are framed within a theme of market research and its historical development in two industries: advertising and retail property.
Design/methodology/approach
This study examines oral histories from two marketing history projects. The first, a study of the advertising industry, examines the globalisation of the advertising agency in Australia over the period spanning the 1950s to the 1980s, through 120 interviews. The second, a history of the retail property industry in Australia, included 25 interviews with executives from Australia’s largest retail property firms whose careers spanned from the mid-1960s through to the present day.
Findings
The research demonstrates that oral histories provide a valuable entry port through which histories of marketing, shifts in approaches to market research and changing attitudes within industries can be examined. Interviews provided insights into firm culture and practices; demonstrated the variability of individual approaches within firms and across industries; created a record of the ways that market research has been conducted over time; and revealed the ways that some experienced operators continued to rely on traditional practices despite technological advances in research methods.
Originality/value
Despite their ubiquity, both the advertising and retail property industries in Australia have received limited scholarly attention. Recent scholarship is redressing this gap, but more needs to be understood about the inner workings of firms in an historical context. Oral histories provide an avenue for developing such understandings. The paper also contributes to broader debates about the role of oral history in business and marketing history.
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The new rich of the nineteenth century were not brought up to large expenditures, and preferred the power which investment gave them to the pleasures of immediate consumption. In…
Abstract
The new rich of the nineteenth century were not brought up to large expenditures, and preferred the power which investment gave them to the pleasures of immediate consumption. In fact, it was precisely the inequality in the distribution of wealth which made possible those vast accumulations of fixed wealth and of capital improvements which distinguished that age from all others. … The immense accumulations of fixed capital which, to the great benefit of mankind, were built up during the half century before the war, could never have come about in a Society where wealth was divided equitably. [Sic!] — John Maynard Keynes, The Economic Consequences of the Peace (1919/20; Chap. II, sec. III), “Europe before the War,” “The Psychology of Society.”