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Editor's Statement, J. Craig Andrews Oct 2001

Editor's Statement, J. Craig Andrews

Marketing Faculty Research and Publications

It has been almost nine years since I concluded my term as the fifth editor of Journal of Public Policy & Marketing (JPP&M). As indicated in my outgoing “Editor’s Statement” (2001), I consider it a tremendous honor to have served as editor for a journal that has evolved into one of the leading outlets for scholarly work in the marketing field. However, as most former editors will acknowledge, it can be best described as an ever-changing journey, with peaks and valleys in the evolution process. Therefore, the purpose of this article is to reflect on my tenure and background, my …


An Empirical Examination Of Traditional Neighborhood Development, Charles C. Tu, Mark Eppli Oct 2001

An Empirical Examination Of Traditional Neighborhood Development, Charles C. Tu, Mark Eppli

Finance Faculty Research and Publications

This study analyzes the impact of the new urbanism on single-family home prices. Specifically, we explore the price differential that homebuyers pay for houses in new urbanist developments relative to houses in conventional suburban developments. Using data on over 5,000 single-family home sales from 1994 to 1997 in three different neighborhoods, hedonic regression results reveal that consumers pay more for homes in new urbanist communities than those in conventional suburban developments. Further analyses indicate that the price premium is not attributable to differences in improvement age and other housing characteristics.


Using Neural Networks To Discover Patterns In International Equity Markets: A Case Study, Mary Malliaris, Linda Salchenberger Jul 2001

Using Neural Networks To Discover Patterns In International Equity Markets: A Case Study, Mary Malliaris, Linda Salchenberger

Management Faculty Research and Publications

No abstract provided.


A Simulation Analysis Of The Relationship Between Retail Sales And Shopping Center Rents, Gregory H. Chun, Mark Eppli, James D. Shilling May 2001

A Simulation Analysis Of The Relationship Between Retail Sales And Shopping Center Rents, Gregory H. Chun, Mark Eppli, James D. Shilling

Finance Faculty Research and Publications

This article examines the variation in rents per square foot among regional shopping centers in the United States in response to variation in retail sales per square foot. The analysis breaks new ground by treating base and percentage rents as endogenous functions of retail sales. The analysis further distinguishes between de facto, if not de jure, fixed and percentage leases, and between new versus existing leases. Simulation results suggest that shopping center rents can easily increase in the short-run as retail sales decrease, or they can easily decrease as retail sales increase. In addition, the results suggest that shopping center …


Information Acquisition And Investment Decisions On The Internet: An Empirical Investigation, Syed H. Akhter, Pervaiz Alam Apr 2001

Information Acquisition And Investment Decisions On The Internet: An Empirical Investigation, Syed H. Akhter, Pervaiz Alam

Marketing Faculty Research and Publications

With intensifying competition, the significance of understanding customer characteristics related to information acquisition and decision making on the Internet has increased. An understanding of customer characteristics can become a crucial element in the development and implementation of marketing strategy. This paper examines the influence of some key demographic and psychological variables on information acquisition and investment decisions on the Internet, related to mutual funds. Findings indicate that product familiarity, age, and information breadth significantly influenced information acquisition. For investment decisions on the Internet, in addition to the above-mentioned variables, sex and overconfidence was also significant.


Automatic Identification Of Time Series Features For Rule-Based Forecasting, Monica Adya, Fred Collopy, J. Scott Armstrong, Miles Kennedy Apr 2001

Automatic Identification Of Time Series Features For Rule-Based Forecasting, Monica Adya, Fred Collopy, J. Scott Armstrong, Miles Kennedy

Management Faculty Research and Publications

Rule-based forecasting (RBF) is an expert system that uses features of time series to select and weight extrapolation techniques. Thus, it is dependent upon the identification of features of the time series. Judgmental coding of these features is expensive and the reliability of the ratings is modest. We developed and automated heuristics to detect six features that had previously been judgmentally identified in RBF: outliers, level shifts, change in basic trend, unstable recent trend, unusual last observation, and functional form. These heuristics rely on simple statistics such as first differences and regression estimates. In general, there was agreement between automated …


Investment Performance Comparison Between Roth And Traditional Individual Retirement Accounts, George Kutner, Lloyd Doney, James Trebby Jan 2001

Investment Performance Comparison Between Roth And Traditional Individual Retirement Accounts, George Kutner, Lloyd Doney, James Trebby

Accounting Faculty Research and Publications

With the recent introduction of the Roth Individual Retirement Account (IRA) along with a significantly improved Traditional IRA, there has been considerable interest in comparing the performance of these investment vehicles. Some confusion regarding these comparisons has evolved. In this paper we show that this confusion may be attributed to scale and tax differences between the two investment vehicles. We adjust for these differences by focusing on the after-tax rate-of-return on investment for each IRA vehicle. We find that performance depends crucially on the relationship between an individual's tax rates at the time of investment and at the time of …


The Structure Of Debt And Active Equity Investors: The Case Of The Buyout Specialist, James F. Cotter, Sarah Peck Jan 2001

The Structure Of Debt And Active Equity Investors: The Case Of The Buyout Specialist, James F. Cotter, Sarah Peck

Finance Faculty Research and Publications

This paper examines the role buyout specialists play in structuring the debt used to finance the LBO and in monitoring management in the post-LBO firm. We find that when buyout specialists control the majority of the post-LBO equity, the LBO transaction is likely to be financed with less short-term and/or senior debt and less likely to experience financial distress. We also find that buyout specialists have greater board representation on smaller boards, suggesting that they actively monitor managers, and that for these transactions, using debt with tighter terms does not significantly increase the firm's performance. In contrast, in all other …


The Evolution Of Real Estate In The Economy, Dapeng Hu, Anthony Pennington-Cross Jan 2001

The Evolution Of Real Estate In The Economy, Dapeng Hu, Anthony Pennington-Cross

Finance Faculty Research and Publications

While the economy as a whole has been rapidly changing in response to technological innovation, real estate has evolved from a depository of wealth for households and assets for corporations into a major force in the debt and equity markets. In contrast, the role of real estate as a contributor to the nation's output and income has remained steady at approximately 11% of gross domestic product.


Strategic Asset Allocation For Individual Investors: The Impact Of The Present Value Of Social Security Benefits, Steve Fraser, William Jennings, David King Jan 2001

Strategic Asset Allocation For Individual Investors: The Impact Of The Present Value Of Social Security Benefits, Steve Fraser, William Jennings, David King

Management Faculty Research and Publications

This paper demonstrates the dramatic effect of social security wealth on individuals’ asset allocation. We first discuss why social security wealth should be included in portfolio asset-mix decisions. We then draw parallels between social security benefits and inflation-indexed treasury bonds to help quantify the present value of social security benefits. Finally, we show the portfolio impact of including social security wealth under several asset-mix decision rules. Excluding social security wealth from the asset mix decision results in sub-optimal portfolios. Including social security wealth provides an incentive for including more stock in the asset mix.


Exploring The Experiences Of Collaborative Planning Initiatives, Mark Barratt, Alexander Oliveira Jan 2001

Exploring The Experiences Of Collaborative Planning Initiatives, Mark Barratt, Alexander Oliveira

Management Faculty Research and Publications

Supply chain integration (or synchronisation) is to a large extent still only a promise, despite many considerable efforts by organisations and their customers and suppliers. Lack of visibility of true consumer demand and collaborative relationships based upon joint decision making remain significant barriers to the goal of supply chain integration. Collaborative planning, forecasting and replenishment (CPFR) is a strategy which promises to overcome these barriers, and seeks through joint planning, joint decision making and the development of a clearer understanding of the dynamics of the supply chain replenishment process to deliver some of the promised benefits of actual supply chain …


The Use Of Marketing Knowledge In Formulating And Enforcing Consumer Protection Policy, J. Craig Andrews Jan 2001

The Use Of Marketing Knowledge In Formulating And Enforcing Consumer Protection Policy, J. Craig Andrews

Marketing Faculty Research and Publications

The purpose of this first chapter of the handbook is to discuss how the findings and approaches offered by the marketing discipline are used in consumer protection policy.


Does Vanity Describe Other Cultures?: A Cross Cultural Examination Of The Vanity Scale, Srinivas Durvasula, Steven Lysonski, John Watson Jan 2001

Does Vanity Describe Other Cultures?: A Cross Cultural Examination Of The Vanity Scale, Srinivas Durvasula, Steven Lysonski, John Watson

Marketing Faculty Research and Publications

Vanity is a psychological construct that describes a person's excessive concern with physical appearance or achievement. A scale, recently developed to measure this construct, has been psychometrically validated using data from U.S. respondents. The goal of this paper is to determine if this scale can be used cross-culturally. If the scale has cross-cultural applicability, it can be used as a counseling device to guide and alert individuals to certain tendencies. The scale also can be used to track foreign cultures as they adopt a consumerism ethos more aligned to Western consumer culture. Based on data from 475 young adults in …


Bcas: A Web-Enabled And Gis-Based Decision Support System For The Diagnosis And Treatment Of Breast Cancer, Guisseppi A. Forgionne, Aryya Gangopadhyay, Monica Adya, Joseph K. Tan Jan 2001

Bcas: A Web-Enabled And Gis-Based Decision Support System For The Diagnosis And Treatment Of Breast Cancer, Guisseppi A. Forgionne, Aryya Gangopadhyay, Monica Adya, Joseph K. Tan

Management Faculty Research and Publications

For decades, geographical variations in cancer rates have been observed but the precise determinants of such geographic differences in breast cancer development are unclear. Various statistical models have been proposed. Applications of these models, however, require that the data be assembled from a variety of sources, converted into the statistical models’ parameters and delivered effectively to researchers and policy makers. A web-enabled and GIS-based system can be developed to provide the needed functionality. This article overviews the conceptual web-enabled and GIS-based system (BCAS), illustrates the system’s use in diagnosing and treating breast cancer and examines the potential benefits and implications …


Public Perceptions Of Wisconsin’S Pavements And Tradeoffs In Pavement Improvement, Richard Robinson, David Kuemmel, Ronald C. Sonntag, Stephen F. Shober, Robert J. Griffin Jan 2001

Public Perceptions Of Wisconsin’S Pavements And Tradeoffs In Pavement Improvement, Richard Robinson, David Kuemmel, Ronald C. Sonntag, Stephen F. Shober, Robert J. Griffin

Marketing Faculty Research and Publications

Findings are reported from Phase II of a three-phase pooled-fund project in Wisconsin, Iowa, and Minnesota to determine perceptions of drivers regarding pavement of rural two-lane highways. Among the survey topics were drivers' trust in the state department of transportation (DOT), pavement improvement trade-offs, and pavement evaluation. Results of the Wisconsin portion of the survey data are the focus of this study. The survey questionnaire was based in part on Phase I focus groups conducted to gauge beliefs about pavements as well as the language describing ruts, tining, and other pavement characteristics. Phase II entailed a statewide telephone survey of …