Commerce Division Discussion Paper series
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Item Process studies of tourists' decision-making: the riches beyond variance studies(Lincoln University. Commerce Division, 2008-11) Smallman, Clive; Moore, KevinWe discuss the paucity of rich decision-making models in tourism. Following a review ofdecision-making approaches, in which we include the emerging paradigm of naturalisticdecision-making, we find that the literature on tourists’ decision-making is dominated by‘variance’ studies of tourists’ decisions by causal analysis of independent variables thatexplain choices by tourists. We contend that this is at odds with the ontology of decisionmakingas a process, a deeper understanding of which may only be generated through processstudies of tourists’ decision-making. This typically involves narrating the emergent actionsand activities by which individual or collective endeavours unfold. We discuss theimplications of this in the context of building and testing naturalistic models and simulationsof tourists’ decision-making.Item The impact of journey origin specification and other assumptions upon travel cost estimates of consumer surplus : a geographical information systems analysis(Lincoln University. Commerce Division., 1997-01) Bateman Ian, J; Brainard Julii, S; Garrod Guy, D; Lovett Andrew, AThis paper presents a simple application of the travel cost method conducted using geographical information system software. This permits analysis of the impact of various assumptions concerning the definition of visitor outset origins and routing to recreation sites. Results suggest that varying these assumptions could lead to substantial impacts upon central estimates of consumer surplus.Item Demand for money, financial reforms and monetary policy in Fiji : an econometric analysis(Lincoln University. Commerce Division., 1998-08) Jayaraman, T. K.; Ward, Bert D.The paper seeks to undertake an econometric investigation of a quarterly money demand model for an eighteen year period 1979Q1-1996Q4. The variables considered for the model are real income, real interest rate, the real effective exchange rate and the expected rate of inflation, which are likely determinants of money demand in Fiji. Both versions of the Chow test, and the CUSUM and CUSUMSQ tests for stability are used to test the stability of demand for M2 money between the 1975-1987 pre-reform period and the 1988-1996 period, which marks the years of financial reforms. The tests do not provide strong evidence that these reforms have affected the stability of the money demand function.Item The Keynesian multiplier, liquidity preference and endogenous money(Lincoln University. Commerce Division, 1995-03) Dalziel, PaulAn extension of Meade’s (1993) process analysis diagram is used to analyse the consequences of investment expenditure financed by credit-money, and to comment on the Keynesian multiplier theory recently challenged by Moore (1988), on Keynes’s theory of the revolving fund of investment finance and endogenous money as analysed by Davidson (1968), and on the debate initiated by Asimakopulos (1983) about whether liquidity preference and inadequate saving can restrict investment. This leads to an analysis of the issues recently debated by Cottrell (1994) and Moore (1994) about the compatibility of post Keynesian theories of the multiplier, liquidity preference and endogenous money.Item Concept testing : a key to successful product development(Lincoln University. Commerce Division., 1994-07) Frazer, SAConcept testing is a research tool used to assess the market viability of a new product idea prior to incurring the development expense of actually fabricating a product. This paper examines the current literature on concept testing to establish its importance with respect to new product success. The New Zealand mobile radio manufacturer Tait Electronics is used to illustrate how the technique has been applied in this country.