Digital Commons Network^™

Is The Compensation Model For Real Estate Brokers Obsolete?, Thomas J. Miceli, Katherine A. Pancak, C. F. Sirmans

Economics Working Papers

This study examines the traditional compensation model for real estate brokers under which both the listing and buyer brokers are paid by the seller based on a percentage of the property sales price. We argue that this model has not evolved to reflect contemporary legal agency relationships and technology-driven information availability. It therefore creates substantial transactional inefficiencies for buyers and sellers at both the matching and bargaining stages of a transaction. While there is evidence that market forces are pushing for a change in the status quo, there is also evidence that the brokerage industry is resisting this change by …

November 2006, Syracuse Department Of Economics

Economics - All Scholarship

No abstract provided.

Montana Nonresident Traveler Expenditure Profiles: 2005, Kara Grau

Institute for Tourism and Recreation Research Publications

This report examines spending profiles of nonresident travelers to Montana. It displays the average daily expenditures by purpose of trip for different spending categories during 2005.

Montana Nonresident Traveler Expenditures And Economic Contribution: 2005, Kara Grau

Institute for Tourism and Recreation Research Publications

This report shows the economic contributions, expenditures, and average daily spending of nonresident visitors to Montana during 2005.

Encouraging The Returner: Maximizing Benefits From Training Investments In High Turnover Industry, Karl R. Geisler

WWU Honors College Senior Projects

No matter what they make, do, or sell, every single organization in the world relies ultimately on one thing: people. Whether working for a company, a campaign, or a cooperative, the quality of the people involved has a direct impact on the success achieved therein. In an attempt to make the most of the workers that they have nearly every organization across the globe undertakes some level of training. Whether demonstrating how to use a hammer or holding a week-long retreat on corporate culture and structure, it is difficult to find an organization that does not have some form of …

Montana Nonresident Traveler Expenditure Trends: 1995-2005, Kara Grau

Institute for Tourism and Recreation Research Publications

This report shows the nonresident traveler expenditure trends for visitors of Montana from 1995-2005. It also displays the total actual expenditures and the total inflation-adjusted expenditures.

Just Insurance Through Global Macro-Hedging: Information, Distributive Equity, Efficiency, And New Markets For Systemic-Income-Risk-Pricing And Systemic-Income-Risk-Trading In A New Economy, Robert C. Hockett

Cornell Law Faculty Publications

This article considers the prospects for exploiting (a) several deep conceptual linkages between justice and insurance, (b) the rapid development of new hedging methods and technologies, and (c) an increasingly integrated global finance economy, in a manner that can render the global economy both more just and more prosperous.

It first derives an account of economic justice from the best known theories currently in the field – an account likely to enjoy broad appeal. The article then elaborates on a number of striking parallels between what it takes for the best account of justice on the one hand, the theory …

Whose Ownership? Which Society?, Robert C. Hockett

Cornell Law Faculty Publications

The idea of an "ownership society" (OS) is not new to American politics or law. It might be called the seventeen year cicada of American domestic policy - emerging once per generation onto the national agenda, generating just a bit of buzz, then receding once again to leave a mass of empty shells and buried eggs behind. Unlike the insects, however, OS proposals seldom have sounded the same notes to everyone's ears. They have been proffered to or on behalf of differing constituencies for differing reasons, and therefore have tended to mean different things to different people. It is tempting …

From "Mission-Creep" To Gestalt Switch: Justice, Finance, The Ifis, And Globalization's Intended Beneficiaries, Robert C. Hockett

Cornell Law Faculty Publications

This essay suggests means by which the international financial institutions (IFIs), the IBRD and the IMF in particular, and indeed "globalization" more generally might be rendered more friendly to humanity. The key, it suggests, lies in a subtle shift in perspective, a "gestalt-switch": It is to move from thinking in terms of political and macroeconomic aggregates - nations and gross national products - to thinking in terms of the individuals who constitute nations and produce national products - those the essay calls the "intended beneficiaries" of globalization.

Thinking in terms of those beneficiaries and their equal claims to our concern …

Minding The Gaps: Fairness, Welfare, And The Constitutive Structure Of Distributive Assessment, Robert C. Hockett

Cornell Law Faculty Working Papers

Despite over a century’s disputation and attendant opportunity for clarification, the field of inquiry now loosely labeled “welfare economics” (WE) remains surprisingly prone to foundational confusions. The same holds of work done by many practitioners of WE’s influential offshoot, normative “law and economics” (LE).

A conspicuous contemporary case of confusion turns up in recent discussion concerning “fairness versus welfare.” The very naming of this putative dispute signals a crude category error. “Welfare” denotes a proposed object of distribution. “Fairness” describes and appropriate pattern of distribution. Welfare itself is distributed fairly or unfairly. “Fairness versus welfare” is analytically on all fours …

From Macro To Micro To “Mission-Creep”: Defending The Imf’S Emerging Concern With The Infrastructural Prerequisites To Global Financial Stability, Robert C. Hockett

Cornell Law Faculty Publications

Charges that the IMF has been engaging in "mission creep," gradually taking on a growing number of activities that exceed its constitutive mandate, have grown both in vehemence and in frequency since the late 1990s. I argue that, what ever the substantive merits of its actions, the IMF's developing attention to the structural determinants of global financial stability is not ultra vires. The Fund's evolving role was both foreseen and constitutionally provided for, both at its founding and at the principal constitutive Articles-amending "moments" since.

Tribal Bondage: Statutory Shackles And Regulatory Restraints On Tribal Economic Development, Gavin Clarkson

Law & Economics Working Papers Archive: 2003-2009

Upwards of $50 billion in capital needs go unmet each year in Indian Country in such vital sectors as infrastructure, community facilities, housing, and enterprise development, in part due to the restrictions imposed on tribal access to the capital markets, specifically the ability of tribal governments to issue tax-exempt debt. Section 7871 of the Internal Revenue Code requires tribal tax-free bond proceeds to be used only for “essential governmental functions,” a restriction not applicable to state and municipal bonds, and Section 7871(e) further limits the scope of available tax-exempt bonding to activities “customarily performed by State and local governments with …

Insider Trading Laws And Stock Markets Around The World (Former Title: Do Insider Trading Laws Matter? Some Preliminary Comparative Evidence), Laura N. Beny

Law & Economics Working Papers Archive: 2003-2009

The primary goal of this article is to bring empirical evidence to bear on the largely theoretical law and economics debate about insider trading. The article first summarizes various agency cost and market theories of insider trading propounded over the course of this perennial debate. The article then proposes three testable hypotheses regarding the relationship between insider trading laws and several measures of stock market performance. Using international data, the paper finds that more stringent insider trading laws are generally associated with more dispersed equity ownership, greater stock price accuracy and greater stock market liquidity. These results suggest the appropriate …

Labor Supply With Social Interactions: Econometric Estimates And Their Tax Policy Implications, Andrew Grodner, Thomas J. Kniesner

Center for Policy Research

Our research fleshes out econometric details of examining possible social interactions in labor supply. We look for a response of a person's hours worked to hours worked in the labor market reference group, which includes those with similar age, family structure, and location. We identify endogenous spillovers by instrumenting average hours worked in the reference group with hours worked in neighboring reference groups. Estimates of the canonical labor supply model indicate positive economically important spillovers for adult men. The estimated total wage elasticity of labor supply is 0.22, where 0.08 is the exogenous wage change effect and 0.14 is the …

Hurricane Damage To The Ocean, Charles S. Colgan, Jefferey Adkins

Publications

In 2005, insured losses from hurricanes and other catastrophes were greater than in any other year in U.S. history. NOAA’s National Hurricane Center estimates that $85 billion of total damages resulted from Hurricanes Katrina and Rita alone. One year later, the region affected by these two hurricanes still struggles to recover, both as a place to live and as a viable economy. Using data from the BLS Quarterly Census of Employment and Wages, the National Ocean Economics Program has developed a data series that allows the economic damage to coastal regions to be seen in a new light: what happens …

Phase I Florida's Ocean And Coastal Economies Report, Judith T. Kildow Dr

Publications

This report was prepared for and funded by the Florida State Department of Environmental Protection with the encouragement of members from the Florida Ocean Alliance, Florida Oceans and Coastal Resources Council and other groups with deep interests in the future of Florida’s coast. It is a preliminary study of Florida’s Ocean and Coastal Economies based only on information currently found within the datasets of the National Ocean Economics Program (NOEP). It reflects only a portion of the value of Florida’s coastal-related economy and should not be considered comprehensive. A more customized study based on the unique coastal and ocean-dependent economic …

April 2006, Syracuse Department Of Economics

Economics - All Scholarship

No abstract provided.

Measuring Efficiency In Corporate Law: The Role Of Shareholder Primacy, Jill E. Fisch

All Faculty Scholarship

The shareholder primacy norm defines the objective of the corporation as maximization of shareholder wealth. Law and economics scholars have incorporated the shareholder primacy norm into their empirical analyses of regulatory efficiency. An increasingly influential body of scholarship uses empirical methodology to evaluate legal rules that allocate power within the corporation. By embracing the shareholder primacy norm, empirical scholars offer normative assessments about regulatory choices based on the effect of legal rules on measures of shareholder value such as stock price, net profits, and Tobin’s Q.

This Article challenges the foundations of using the shareholder primacy norm to judge corporate …

What Kinds Of Stock Ownership Plans Should There Be? Of Esops, Other Sops And “Ownership Societies”, Robert C. Hockett

Cornell Law Faculty Working Papers

Present-day advocates of an “ownership society” (OS) do not seem to have noticed the means by which, since the 1930s and 1960s respectively, we have worked to become an OS already where homes and “human capital” are concerned. Nor have those advocates considered whether these same means ­ which amount to publicly augmented private financial engineering ­ might be employed to spread shares in business firms as widely as we have spread homes and higher educations. This Article, the third in a trio of pieces devoted to fleshing out what a contemporary OS consistent with American values, endowment psychology and …

Sex Similarities And Differences In Preferences For Short-Term Mates: What, Whether, And Why, Norman P. Li, Douglas T. Kenrick

Research Collection School of Social Sciences

Are there sex differences in criteria for sexual relationships? The answer depends on what question a researcher asks. Data suggest that, whereas the sexes differ in whether they will enter short-term sexual relationships, they are more similar in what they prioritize in partners for such relationships. However, additional data and context of other findings and theory suggest different underlying reasons. In Studies 1 and 2, men and women were given varying "mate budgets" to design short-term mates and were asked whether they would actually mate with constructed partners. Study 3 used a mate-screening paradigm. Whereas women have been found to …

Teaching The Ethical Foundations Of Economics: The Principles Course, Jonathan B. Wight

Economics Faculty Publications

When we analyze the source of humor, one ingredient is surely incongruity, the juxtaposition of opposites. So when Tom Lehrer, the consummate Harvard mathematician, openly calls for plagiarism, this is funny because it is exactly the opposite of what we expect - it is absurd. And yet, from the viewpoint of modern economics, is plagiarism really so absurd? We teach our students to maximize short-term profits (in a moral vacuum). We drill them that producers minimize private costs of production (without reference to ethical codes of conduct). We expect economic agents to operate with atomistic selfishness, assuring them that this …

Students' Preference For Teaching Strategies That Strengthen The Learning Of Economics In Middle Eastern Universities, Mokhtar M. Metwally, Nelson Perera

Faculty of Commerce - Papers (Archive)

A survey, covering a random sample of 139 students, was conducted at the University of Wollongong in Dubai during the months of September-November 2004, to gather opinions of students about their attitudes towards strategies that promote the teaching and learning of economics The technique of factor analysis was used to model the preference of students for various strategies. Multiple discriminant analysis was used to find out whether there are any significant differences in the attitudes of students at different stages :"students learning introductory economic subjects", "students learning intermediate economic subjects" and "students learning advanced and applied economic subjects" Factor scores …

Sitting Between Two Chairs: Cambodia's Dual Citizenship Debate, Kathryn Poethig

SSGS Faculty Publications and Presentations

No abstract provided.

Coastal Empire Economic Monitor, 1st Quarter, 2006, Armstrong Atlantic State University Center For Regional Analysis

Coastal Empire Economic Monitor

The Coastal Empire Economic Indicators are designed to provide continuously updating quarterly snapshots of the Savannah Metropolitan Statistical Area economy. The coincident index measures the current economic heartbeat of the region. The leading index provides a short term forecast of the region’s economic activity in six to nine months.

Coastal Empire Economic Monitor, 2nd Quarter, 2006, Armstrong Atlantic State University Center For Regional Analysis

Coastal Empire Economic Monitor

The Coastal Empire Economic Indicators are designed to provide continuously updating quarterly snapshots of the Savannah Metropolitan Statistical Area economy. The coincident index measures the current economic heartbeat of the region. The leading index provides a short term forecast of the region’s economic activity in six to nine months.

Coastal Empire Economic Monitor, 3rd Quarter, 2006, Armstrong Atlantic State University Center For Regional Analysis

Coastal Empire Economic Monitor

The Coastal Empire Economic Indicators are designed to provide continuously updating quarterly snapshots of the Savannah Metropolitan Statistical Area economy. The coincident index measures the current economic heartbeat of the region. The leading index provides a short term forecast of the region’s economic activity in six to nine months.

Coastal Empire Economic Monitor, 4th Quarter, 2006, Armstrong Atlantic State University Center For Regional Analysis

Coastal Empire Economic Monitor

The Coastal Empire Economic Indicators are designed to provide continuously updating quarterly snapshots of the Savannah Metropolitan Statistical Area economy. The coincident index measures the current economic heartbeat of the region. The leading index provides a short term forecast of the region’s economic activity in six to nine months.