scholarly journals Who Wants an iPad? An Exercise In Rationing

2018 ◽  
Vol 15 (1) ◽  
pp. 1-4
Author(s):  
David L. Carr ◽  
Michael Allgrunn ◽  
Kathryn Birkeland
Keyword(s):  
Active Learning ◽  
Willingness To Pay ◽  
Fundamental Problem ◽  
Secondary Market ◽  
Music Videos ◽  
Apple Ipad

This active learning exercise demonstrates the fundamental problem in economics that resources are scarce, while wants are relatively infinite.  Students are exposed to four mechanisms for rationing scare resources: markets, queue, coupons, and lottery.  An Apple iPad® pre-loaded with music, videos, and games is used as the good to be rationed. The uncertain value of the good allows for differences in willingness to pay.  Students are guided through an exercise that highlights the efficiency/equity tradeoffs in different allocation mechanisms by observing who gets the iPad in each round and whether any secondary market transactions occur to change the allocation.

scholarly journals CREDIT RISK MANAGEMENT IN THE SECONDARY MARKET FOR AUTOMOTIVE PARTS IN THE REPUBLIC OF CROATIA

2017 ◽  
pp. 133-147
Keyword(s):  
Credit Risk ◽  
Fundamental Problem ◽  
Balance Sheet ◽  
The State ◽  
Secondary Market ◽  
Credit Risk Management ◽  
Organic Growth ◽  
Fundamental Cause ◽  
Automotive Parts ◽  
The Republic

In recent years, there has been a dramatic decrease in the sale of new automobiles on the market of the Republic of Croatia. When considering certain periods, the sale reached its peak in 2008, with 88,265 vehicles sold. In 2013, the sale was reduced by 68.5%, and 27,802 vehicles were sold. 2014 and 2015 saw a slight recovery with 35,715 vehicles sold. This increase was related to the fact that the state, through certain ministries, bought new automobiles and thus made 20% of the above-mentioned number. Devastation in the market of new automobiles was accompanied by an increase in the sale of used vehicles, both in the country (which was caused by the fact that vehicle lease agreements of the State Administration expired, replaced by the above-mentioned share in the sales of new vehicles) and from abroad. This caused an increase in the average vehicle age in the Republic of Croatia. Consequently, the secondary market for automotive parts has been experiencing organic growth at high rates, thus determining obvious propulsiveness. The five largest companies in the secondary market for automotive parts in the Republic of Croatia generate annual revenue of HRK 1,253,655,892 (EUR 166423) through wholesale and retail. As the result of these sales methods, we have a very diverse client base in all the major companies on the market with the fundamental problem of credit risk, mainly due to the fact that the highest percentage of revenue is generated through operations with automobile repair workshops, whose balance sheet indicators are extremely poor. In such circumstances, it is essential to use a more serious approach to the problem of determining clients’ creditworthiness, as the basis for better liquidity. This paper presents a model for the assessment of clients’ creditworthiness, as a possible solution to the problem of illiquidity in the Croatian secondary market for automotive parts. The model provides for the establishment of the client base, with a combination of elements of qualitative analysis and financial and quantitative analysis to assess credit risk, as well as continuous monitoring of the base. By applying this model, the credit risk of every client, as the fundamental cause of illiquidity in this sector, would be noticed on time and measures for its reduction would be taken.

Auctions with Resale Markets: An Application to U.S. Forest Service Timber Sales

2001 ◽  
Vol 91 (3) ◽  
pp. 399-427 ◽  
Author(s):  
Philip A Haile
Keyword(s):  
Willingness To Pay ◽  
Empirical Evidence ◽  
Forest Service ◽  
Secondary Market ◽  
Policy Changes ◽  
Common Value ◽  
Timber Sales ◽  
Option Values ◽  
Standard Models

When bidders anticipate an opportunity for resale trade, the value of winning an auction is determined in part by the option values of buying and selling in the secondary market. One implication is that a bidder's willingness to pay at an auction increases with the expected level of competition between resale buyers. Empirical evidence from auctions of timber contracts supports this prediction and rejects standard models that ignore resale. The estimated effect is smaller after policy changes expected to diminish the prevalence of resale. Additional evidence supports the predicted presence of a common value element introduced by the resale opportunity. (JEL D44, D82, C52, L73)

scholarly journals PERMASALAHAN MADRASAH ERA OTONOMI DAERAH

2017 ◽  
Vol 5 (1) ◽  
Author(s):  
Umul Hidayati
Keyword(s):  
Local Government ◽  
Willingness To Pay ◽  
Global Economy ◽  
Fundamental Problem

AbstractA fundamental problem faced by madrasahs in the era of global economy is with the position of madrasah in the governmental structure. Structurally, madrasash is a vertical agency without being autonomous-structured but operationally madrasah is within the office of local government (city/regency). Such a condition has implications to the policy of local government that unlikely to favor madrasah. The policies of local government concerning empowering madrasahs can be clasified into four attitudes: 1) in favor of madrasah that meant local goverment has proportionally paid attention to and cared for the madrasah; 2) lack of supporting madradah taht meant though local government has paid attention to the madrasah, such an sttention was discriminative in character among the madrasahs and schools; 3) doubt in character that meant local government has had a willingness to pay their attention to the madrasah, but they were afraid of violating rules; and 4) not in favor of madrasah that meant were no any attentions and treatments at all given by local government to madrasah wheter in form of finance, staff, facility and infrastructure of curriculum.

Synaptic organization of the gustatory NST

1994 ◽  
Vol 52 ◽  
pp. 150-151
Author(s):  
M. C. Whitehead
Keyword(s):  
Central Nervous System ◽  
Dendritic Spines ◽  
Fundamental Problem ◽  
Cell Types ◽  
Brain Regions ◽  
Excitatory Synapses ◽  
Solitary Tract ◽  
Synaptic Organization ◽  
Synaptic Junctions ◽  
Afferent Terminals

A fundamental problem in taste research is to determine how gustatory signals are processed and disseminated in the mammalian central nervous system. An important first step toward understanding information processing is the identification of cell types in the nucleus of the solitary tract (NST) and their synaptic relationships with oral primary afferent terminals. Facial and glossopharyngeal (LIX) terminals in the hamster were labelled with HRP, examined with EM, and characterized as containing moderate concentrations of medium-sized round vesicles, and engaging in asymmetrical synaptic junctions. Ultrastructurally the endings resemble excitatory synapses in other brain regions.Labelled facial afferent endings in the RC subdivision synapse almost exclusively with distal dendrites and dendritic spines of NST cells. Most synaptic relationships between the facial synapses and the dendrites are simple. However, 40% of facial endings engage in complex synaptic relationships within glomeruli containing unlabelled axon endings particularly ones termed "SP" endings. SP endings are densely packed with small, pleomorphic vesicles and synapse with both the facial endings and their postsynaptic dendrites by means of nearly symmetrical junctions.

Direct imaging of order-disorder and antiphase domain structures in Ti3Al intermetallic compound

1990 ◽  
Vol 48 (4) ◽  
pp. 480-481
Author(s):  
H. Q. Ye ◽  
T.S. Xie ◽  
D. Li
Keyword(s):  
Intermetallic Compound ◽  
Volume Fraction ◽  
Fundamental Problem ◽  
Antiphase Domain ◽  
Atomic Scale ◽  
Orientation Relationships ◽  
Domain Structures ◽  
Α Phase ◽  
Diffraction Patterns ◽  
Two Phases

The Ti3Al intermetallic compound has long been recognized as potentially useful structural materials. It offers attractive strength to weight and elastic modulus to weight ratios. Recent work has established that the addition of Nb to Ti3Al ductilized this compound. In this work the fundamental problem of this alloy, i.e. order-disorder and antiphase domain structures was investigated at the atomic scale.The Ti3Al+10at%Nb alloys used in this study were treated at 1060°C and then aged at 700°C for 2 hours. The specimens suitable for TEM were prepared by standard jet electrolytic-polishing technique. A JEM-200CX electron microscope with an interpretable resolution of about 0.25 nm was used for HREM.The [100] and [001] projections of the α2 phase were shown in Fig.l.The alloy obtained consist of at least two phases-α2(Ti3Al) and β0 structures. Moreover, a disorder α phase with small volume fraction was also observed. Fig.2 gives [100] and [001] diffraction patterns of the α2 phase. Since lattice parameters of the ordered α2 (a=0.579, c=0.466 nm) and disorder α phase (a0=0.294≈a/2, c0=0.468 nm) are almost the same, their diffraction patterns are difficult to be distinguished when they are overlapped with epitaxial orientation relationships.

Subjective Time Preference and Willingness to Pay for an Energy-Saving Durable Good

2001 ◽  
Vol 32 (3) ◽  
pp. 133-141 ◽  
Author(s):  
Gerrit Antonides ◽  
Sophia R. Wunderink
Keyword(s):  
Willingness To Pay ◽  
Energy Saving ◽  
Subjective Time ◽  
Durable Good ◽  
Discount Function ◽  
Hyperbolic Discount ◽  
The One ◽  
Two Parameter ◽  
Difference Effect ◽  
Better Than

Summary: Different shapes of individual subjective discount functions were compared using real measures of willingness to accept future monetary outcomes in an experiment. The two-parameter hyperbolic discount function described the data better than three alternative one-parameter discount functions. However, the hyperbolic discount functions did not explain the common difference effect better than the classical discount function. Discount functions were also estimated from survey data of Dutch households who reported their willingness to postpone positive and negative amounts. Future positive amounts were discounted more than future negative amounts and smaller amounts were discounted more than larger amounts. Furthermore, younger people discounted more than older people. Finally, discount functions were used in explaining consumers' willingness to pay for an energy-saving durable good. In this case, the two-parameter discount model could not be estimated and the one-parameter models did not differ significantly in explaining the data.

Viewing music videos: Emotion and viewer interpretation

2002 ◽  
Vol 14 (2) ◽  
pp. 69-79 ◽  
Author(s):  
Joan M. Preston ◽  
Michael Eden
Keyword(s):  
University Students ◽  
Emotional Content ◽  
Music Videos ◽  
Music Video ◽  
Mediating Factors ◽  
Comparative Media

Abstract. Music video (MV) content is frequently measured using researcher descriptions. This study examines subjective or viewers’ notions of sex and violence. 168 university students watched 9 mainstream MVs. Incidence counts of sex and violence involve more mediating factors than ratings. High incidents are associated with older viewers, higher scores for Expressivity, lower scores for Instrumentality, and with video orders beginning with high sex and violence. Ratings of sex and violence are associated with older viewers and lower scores for Instrumentality. For sex MVs, inexperienced viewers reported higher incidents and ratings. Because MVs tend to be sexier but less violent than TV and film, viewers may also use comparative media standards to evaluate emotional content MVs.

Sexually Degrading Music Videos and Lyrics

2012 ◽  
Vol 24 (1) ◽  
pp. 31-39 ◽  
Author(s):  
Eric L. Sprankle ◽  
Christian M. End ◽  
Miranda N. Bretz
Keyword(s):  
Undergraduate Students ◽  
Rape Myths ◽  
Music Videos ◽  
Sexual Content ◽  
Sexual Stereotypes ◽  
Male Undergraduate ◽  
The Media ◽  
The Many ◽  
Sexually Degrading ◽  
Music Lyrics

Utilizing a 2 (lyrics: present or absent) × 2 (images: present or absent) design, this study examined the unique effects of sexually degrading music videos and music lyrics on males’ aggressive behavior toward women, as well as males’ endorsement of rape myths and sexual stereotypes. Under the guise of a media memory study, 187 male undergraduate students were randomly assigned to one of four conditions. Despite the many psychological theories predicting an effect, the presentation of sexually degrading content in a visual or auditory medium (or combination thereof) did not significantly alter the participants’ aggression and self-reported endorsement of rape myths and sexual stereotypes. The null findings challenge the many corporate and governmental restrictions placed on sexual content in the media over concern for harmful effects.

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