A NOTE ON HOLDING COSTS AND LOT-SIZE ERRORS

This note examines the sensitivity of the basic economic-order-quantity inventory model to lot-size errors when holding costs are assumed to be a strictly increasing (though not necessarily linear) function of average inventory. In particular, we show that the penalty associated with ordering either too much or too little is a function not only of the size of the error but of the shape of the holding-cost curve as well. We demonstrate that, under certain conditions, even relatively small lot-size errors can be extremely costly.     

FORECAST EVALUATION OF LIVINGSTON DATA ON INFLATION RATES AND INFLATION UNCERTAINTY*

Livingston data on expected inflation rates have been used extensively in the financial literature, especially in investgating the relationship between nominal interest rates and expected inflation rates; however, the data have not been subjected to a thorough analysis of forecast accuracy. The objective of this paper is to analyze the forecast properties of Livingston data using a wide variety of time and frequency domain methods over an extended sample period and for selected subperiods.     

Consumer Privacy: Balancing Economic and Justice Considerations

Consumer privacy is at the center of an ongoing debate among business leaders, privacy activists, and government officials. Although corporations face competitive pressures to collect and use personal information about their customers, many consumers find some methods of collection and use of their personal information unfair. We present a justice theory framework that illustrates how consumer privacy concerns are shaped by the perceived fairness of corporate information practices. We describe a set of global principles, fair information practices, which were developed to balance consumer privacy concerns with an organization's need to use personal information. We conclude by discussing three alternatives for implementing fair information practices with particular attention to the Internet: government regulation, industry self-regulation, and technological solutions .     

A port in a storm: Spontaneous volunteering and grassroots movements in Amsterdam. A resilient approach to the (European) refugee crisis

This article seeks to expand knowledge about spontaneous volunteering in Amsterdam during the European refugee crisis in the winter of 2015–16. As formal institutions, which relied on a top–down command and control approach, were unable to handle the relatively large number of refugees who arrived in a short period of time, grassroots social movements based on bottom–up participation emerged. Grassroots volunteers were not only politically engaged, protesting against the strict refugee reception policy, but they also became involved in the crisis response, showing a great deal of flexibility. Although the social movements struggled with their organizational structures, they were able to adapt their missions and structures to changing circumstances. To achieve a resilience‐based response to future refugee influxes, this article advocates for formal response organizations to dismantle their static, top–down approach, and for social movements to find a balance between participation and professionalism. If institutionalized refugee response organizations adapt to the dynamics of local conditions, they could create the conditions for resilient solutions in the crisis context.     

The Proportion of Gaming Revenue Derived from Problem Gamblers: Examining the Issues in a Canadian Context

The legitimacy of government-sponsored gambling and its continued expansion depends in part on the impact that gambling has on society and the extent to which gambling revenue is derived from vulnerable individuals. The purpose of the present article is to try to establish a valid estimate of the proportion of gaming revenue derived from problem gamblers in Canada. Using recent secondary data collected in eight Canadian provinces, we estimate this proportion to be 23.1%, compared to a problem gambling prevalence rate of 4.2%. This estimate must be seen as tentative, however, as self-reported expenditures are 2.1 times higher than actual provincial gaming revenues.     

School Size and the Interpersonal Side of Education: An Examination of Race/Ethnicity and Organizational Context*

Objectives. The purpose of this study was to extend research on the connection between school size and student outcomes by examining how school size was related to interpersonal processes and whether the interpersonal effects of school size varied by race/ethnicity. Methods. We applied multilevel modeling techniques to a sample of 14,966 students in 84 schools from the National Longitudinal Study of Adolescent Health. Results. Increasing school size was associated with decreasing student attachment to school and to teachers as well as extracurricular participation. Student attachment and teacher bonding diminished with increasing school size at a decreasing rate (reaching minimums in schools with between 1,700–2,000 students), but extracurricular participation dropped at a steady rate. These patterns did not differ substantially by race/ethnicity. Conclusions. The size of the educational institution influences interpersonal dynamics among actors in the institution and does so similarly across student groups. More generally, this research demonstrates the importance of organizational characteristics for social life.     

Rent Control: its Costly Repercussions

This article examines the theory and practice of rent control in the UK and elsewhere in order to contribute to the important debate on the future of the private rental sector in the UK. Our opposition to rent and eviction controls is unequivocal. We shall show that wherever rent control has been imposed the effects have been, at best, adverse and at worst, appalling. The effects on the quantity and quality of a housing stock can be so devastating that one Swedish socialist economist, Assar Lindbeck (1967) concluded: “In many cases rent control appears to be the most efficient technique presently known to destroy a city — except for bombing.” Controls which lead to an excess demand for housing foster unfortunate practices such a discrimination on various grounds other than willingness and ability to pay rent, and the creation of a black market. Rent and eviction controls also have a major impact on the mobility of labour. The encouragement to immobility can lead to the perpetuation of structural imbalances in an economy prompting rigidities which can have considerable economic and social costs.