Open Access. Powered by Scholars. Published by Universities.®

Business Commons™

Open Access. Powered by Scholars. Published by Universities.®

Finance

Selected Works

1996

Articles 1 - 2 of 2

Full-Text Articles in Business

An Appraisal Of Local Exchange And Trading Systems In The United Kingdom, Colin C. Williams May 1996

An Appraisal Of Local Exchange And Trading Systems In The United Kingdom, Colin C. Williams

Colin C Williams

During the past few years, Local Exchange and Trading Systems (LETS) have emerged through the
United Kingdom and are being widely heralded as a new tool for promoting community development.
Indeed, 64 per cent of local authorities have expressed an intention to develop a LETS in their area (Gibbs et al, 1995). However, there has been little, if any, appraisal of LETS which can inform such policy initiatives. Therefore, the aim of this paper is to report the results of a national survey of the origins, objectives, growth, magnitude, character and impacts of LETS. Arising out of this, several alterations …

Go to article

Deficit Reduction Through Diversity: How Affirmative Action At The Fcc Increased Auction Competition, Peter Cramton, Ian Ayres Jan 1996

Deficit Reduction Through Diversity: How Affirmative Action At The Fcc Increased Auction Competition, Peter Cramton, Ian Ayres

Peter Cramton

In recent auctions for paging licenses, the Federal Communications Commission has granted businesses owned by minorities and women substantial bidding credits. In this article, Professors Ayres and Cramton analyze a particular auction and argue that the affirmative action bidding preferences, by increasing competition among auction participants, increased the government’s revenue by $45 million. Subsidizing the participation of new bidders can induce established bidders to bid more aggressively. The authors conclude that this revenue-enhancing effect does not provide a sufficient constitutional justification for affirmative action—but when such justification is independently present, affirmative actions can cost the government much less than is …

Go to article