An econometric analysis of the U.S. postwar G.N.P.

Whilst most developed countries have experienced stable economic conditions during the postwar period, the acceptance of the unit root null hypothesis implies wild fluctuations in the major economic variables over time. This paper investigates the sensitivity of the decisions to accept the unit root hypothesis to the specification of the trends underlying the U.S. postwar GNP and other macro-variables. In particular, the relationship between the nominal GNP and the resident population is found to be a non-linear one. The unit root null hypothesis can be firmly rejected when the conditional mean of the nominal GNP series is represented by a quadratic trend variable and the assumptions that changes in the price level and the resident population lead to equiproportionate changes in the GNP are not enforced on the data. The case of quarterly observations is also investigated for seasonally unadjusted and adjusted data.The author is indebted to two anonymous referees and the Managing Editor for helpful comments.     

Univaiuate anu multivariate categorical data analysis for block designs

Analysis for univariate and multivariate categorical data in block designs is given and illustrated through examples. The univariate analysis compares the treatments on the basis of their pooled frequency distributions (pooled over blocks). The test statistic used is called Q after Cochran (1950). The large sample null distribution of Q is a chi-square. Analysis of p-variate categorical data (kth variable having ck classes, K=1,...,p) can be done by treating it as a univariate categorical problem with [d] classes. Very often [d] is large in relation to the size of the experiment. This makes the expected frequencies for some of the cells very small, making the univariate method inapplicable. In these circumstances it may be reasonable to compare the treatments on the basis of marginal distributions up to the mth dimension, 1[d] , which is given in this paper. This method is also illustrated for missing observations     

The future of PR is ‘fantastic’, ‘friendly’ and ‘funny’: Occupational stereotypes and symbolic capital in entry-level job advertisements

Over the past decade, there has been a move towards examining public relations as a socio-cultural practice, acknowledging practitioners as influential communicators who produce and symbolise cultural values through public relations messages. Ideally, a diverse group of professionals would aide in representing a diverse society, but to date, the profession remains female dominated. In this article, it is proposed that practitioners’ own discourse do not only establish what is most valued in the occupation and which habitus suits the practice best, but that the discourse also opens and closes occupational entry for new practitioners thereby contributing to a lack of diversity.This article presents the findings of an indicative thematic content analysis of one of the most common, yet under-research sites of discourse, namely entry-level job advertisements in New Zealand and Australia. Using an interdisciplinary approach, the analysis found that the advertisements placed little to no emphasis on the nature of the work, instead focusing on elements of ‘fit’ whereby new entrants were expected to be charismatic, friendly, and willing to work in an environment that is ‘fun’ and ‘flexible’. In doing so, public relations practitioners tacitly created invisible barriers, a self-limiting occupational culture and furthered existing stereotypes of the ‘perfect’ practitioner.     

Estimation of a linear transformation and an associated distributional problem

A multivariate “errors in variables” regression model is proposed which generalizes a model previously considered by Gleser and Watson (1973). Maximum likelihood estimators [MLE's] for the parameters of this model are obtained, and the consistency properties of these estimators are investigated. Distribution of the MLE of the “error” variance is obtained in a simple case while the mean and the variance of the estimator are obtained in this case without appealing to the exact distribution.     

Stimulating Early Adoption of New Products through Channel Disintegration

Conventional wisdom holds that adding layers to a distribution channel is detrimental to the interests of consumers and the channel that serves them. In contrast, our study indicates that a disintegrated channel structure can be desirable in some instances. When consumers have valuation uncertainty prior to consuming a product, having an independent retailer may boost both channel profits and consumer surplus relative to direct selling by an integrated firm. The quandary in selling such products is that after early adopters make their purchase decisions, the seller may alter prices in such a way that makes early adopters' decisions appear suboptimal in hindsight. Since the seller cannot credibly commit to future prices, customers are reluctant to adopt early, choosing instead to delay their purchase decisions. This delay is certainly detrimental to the interest of the distribution channel, but the rejection of the early adoption discount can equally reduce consumer surplus. This problem can be mitigated by introducing an independent retailer. The familiar double marginalization “problem” from channel disintegration can credibly assure customers of unfavorable future prices for late adoption. This assurance attracts more customers to seek early adoption, leading to lower overall retail prices, increased supply, and higher consumer and producer surpluses.     

Classification of an observation into linear manifolds,their closed subsets and closed convex subsets

In this paper, we generalize the notion of classification of an observation (sample), into one of the given n populations to the case where some or all of the populations into which the new observation is to be classified may be new but related in a simple way to the given n populations. The discussion is in the frame-work of the given set of observations obeying the usual multivariate general linear hypothesis model. The set ofpopulations into which the new observation may be classified could be linear manifolds of the parameter space or their closed subsets or closed convex subsets or a combination of them or simply t subsets of the parameter space each of which has a finite number of elements. In the last case alikelihood ratio procedure can be obtained easily. Classification procedures given here are based on Mahalanobis distance. Bonferroni lower bound estimate of the probability of correctly classifying an observation is given for the case when the covariance matrix is known or is estimated from a large sample. A numerical example relating to the classification procedures suggested her is given.     

Commercialization of Platform Technologies: Launch Timing and Versioning Strategy

Many emerging entrepreneurial applications and services connect two or more groups of users over Internet‐based information technologies. Commercial success of such technology products requires astute business practices related to product line design, price discrimination, and launch timing. We examine these issues for a platform firm that serves two markets—labeled as user and developer markets—such that the size of each market positively impacts participation in the other. In addition, our model allows for sequential unfolding of consumer and developer participation, and for uncertainty regarding developer participation. We demonstrate that product versioning is an especially attractive strategy for platform firms, that is, the trade‐off between market size and margins is tilted in the direction of more versions. However, when expanding the product line carries substantial fixed costs (e.g., marketing cost, cost of additional plant, increased distribution cost), then the uncertainty in developer participation adversely impacts the firm's ability to offer multiple versions. We show that for established firms with lower uncertainty about developer participation, the choice is essentially between an expanded or minimal product line. Startups and firms that are entering a new product category are more likely to benefit from a “wait and see” deferred expansion strategy.     

Economic planning in India: Failure or success?

The author traces the progress of economic planning in India to the point where it stands today, and makes a broad appraisal of the achievements in order to plan more systematically for the future. He recommends that there should be a secretariat attached to the National Development Council representing State governments to ensure that plans at State level are more realistic than they have been in the past, and that this process should be continued through other levels of government.