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Publication Open Access 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.Publication Open Access 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.Publication Open Access 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.Publication Open Access 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.Publication Open Access 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.Publication Open Access Hedonic analysis of waterfowl hunting lease attributes : an evaluation of owner-provided services(Lincoln University. Commerce Division, 1994-07) Gan, C.; Luzar, E. J.; Zwart, Anthony C.The role of owner-provided services in fee-based recreation access is evaluated for the case of waterfowl hunting. An hedonic framework is used to analyze and estimate the implicit price of some waterfowl hunting lease attributes. A mail survey of Louisiana waterfowl hunters provides primary data for estimation of the hedonic price model specified in semi-log functional form. The willingness-to-pay functions for increased acreage per hunting club member, increased lease time, and travel distance are also empirically estimated, providing information on the implicit demand for these lease characteristics.Publication Open Access The economic rationale of universities : a reconsideration(Lincoln University. Commerce Division., 1994-07) Earl, Peter E.This paper is an attempt to make a contribution to current debates about the reform of higher education by using the work of Ronald Coase on 'the nature of the firm' as a framework for considering alternative institutional structures for delivering educational services. Attention is focused particularly on rival ways of coordinating the delivery of educational services and guaranteeing standards. Extreme market-based scenarios involving freelance academics and itemised billing for specific services are contrasted with the present system involving very incomplete contracts for academic employees and 'banquet-style' purchases of degrees by students. Costs and benefits of different institutional structures are examined. The role of academic professionalism in limiting opportunistic behaviour is considered in relation to policies that involve an increase in auditing of tertiary institutions.Publication Open Access The organic food market : a discussion of potential and problems(Lincoln University. Commerce Division., 1994-11) Lamb, Charles G.This paper discusses changes in dietary patterns and proposes some reasons for these, including food safety and environmental reasons. Implications of these changes are discussed from both a national and international perspective. The role of organic products in responding to these trends and the consequent marketing considerations are then presented.Publication Open Access Motivations and aspirations of self-employed Maori in New Zealand(Lincoln University. Commerce Division., 1998-07) Fox Mark, AAttempts by the government of New Zealand to redress past inequities to Maori will inevitably play an important part in future economic development for Maori. While some attention has been given to economic development for Maori at the Iwi level, there has been little research at the level of the individual, for example, of self-employed Maori. Such research can potentially shed light on several issues. One such issue is, why are Maori in general and Maori women in particular, under-represented among self-employed. It is the intention of this paper to examine motives of Maori for becoming self-employed. I also discuss why Maori and non-Maori appear to have different motives in becoming self-employed.Publication Open Access In the forests of the night : second report of the Asian Economic Crisis Monitoring Group(Lincoln University. Commerce Division., 1998-07) Amor, Richard; Fox, Mark A.; Hannah, Michael; Kennedy, Jeffrey C.; Lattimore, Ralph G.; McMillan, StuartIn this paper we focus on the effects of the crisis on New Zealand exports, including the effects on New Zealand manufacturers, on the effects of the crisis on growth in East Asia, on the effects of the crisis on the education sector in New Zealand, and on some of the elements of political instability in Indonesia. We are retaining the use of the word "crisis" because no other seems to describe more precisely the condition of several countries of East Asia. An argument can be advanced that the crisis occurred during 1997, the International Monetary Fund responded to the circumstances of that time, and that the region is recovering. According to this line of reasoning, the term "crisis" lacks accuracy for the new set of conditions. We do not deny that there have been changes during the crisis and that the region is in a different phase than it was a year ago. Nor would we want to insist that all countries in the region are in crisis. Nevertheless, we have found no other word to convey adequately the mixture of urgent, serious, and unresolved aspects of the financial, economic, social and political conditions which have beset a group of countries and which present a huge regional problem.Publication Open Access Agri-environmental policy and market developments in the European Union and their potential impact on New Zealand trade(Lincoln University. Commerce Division, 1998-08) Saunders, CarolineThe developments in the European Union and its environmental policy have important implications for New Zealand. While the importance of the European Union as a market for New Zealand produce has diminished, it is still significant, accounting for 17 per cent of exports (6 per cent of which are to the United Kingdom), especially as a high value market and in commodities such as sheepmeat, fruit and dairy. It is because of the importance of primary products in New Zealand's trade with the European Union (hereafter, EU) and the fact that much EU environmental policy intervention and market changes are in the primary products sector that this paper will concentrate upon EU environmental policy and its impact on agriculture. The implications of changes in the EU on New Zealand are both indirect and direct. Indirect impacts include the influence the EU has in the outcome of World Trade Organization (WTO) negotiations, particularly in relation to agricultural trade, which of course is of vital importance for New Zealand. Policy and market changes in the EU also affect New Zealand indirectly by impacting on other potential New Zealand export markets. Direct impacts of changes in the EU include the rise in demand for produce produced in an environmentally friendly manner (henceforth referred to as 'green' produce) particularly at the high value end of the market. Other important factors include the continuing access for New Zealand exports to the EU market especially under preferential arrangements.Publication Open Access Audit hierarchy in a corrupt administration(Lincoln University. Commerce Division., 1998-08) Sanyal, AmalThe present work addresses both issues in the context of income tax evasion. About the first it proves a rather strong result, namely that if rewards are related to the evasion detected by an auditor, then (i) no level of hierarchy, however large, can sustain truth-revealing in the long run, while (ii) no hierarchy is necessary in the short run. About the second issue we claim that (i) truth revealing equilibria can be sustained by tying up rewards to tax collection; and, (ii) there exists a level of hierarchy that maximises government's net revenue. Bribe chains have been formally analysed earlier in Basu, Bhattacharya and Mishra (1992). Our analysis reinforces an important conclusion of that paper that a small reward can stop a large leak through bribes in a bribe chain, because individuals in a chain generally get a small fraction of total bribes. These results contradict the claim by Gangopadhyay, Goswami, and Sanyal (1991) that auditing with only one level of superauditors can generate truth-revealing equilibria. We argue that long-run aspects of the problem were not properly addressed in their argument.Publication Open Access Subsidies without farming : the reform of the CAP : current and future pressures(Lincoln University. Commerce Division, 1994-11) Saunders, Caroline M.The GATT agreement has been a major factor behind the current reforms of the CAP essentially providing an external constraint on policy developments. This has enabled a radical switch from unlimited support based upon price, to area/headage payments subject to limits. The EU Commission argue that these reforms, in general, will be sufficient to meet the obligations under the GATT agreement. However over the long term it is generally recognised that the current reforms are not sustainable and further reforms will be necessary. The direction these take are open to speculation but are likely to include greater emphasis upon the provision of public environmental goods and less on production.Publication Open Access Credit and price determination in a developing economy(Lincoln University. Commerce Division., 1995-01) Sanyal, AmalThis paper examines in the context of a developing agrarian economy aspects of the Post Keynesian theories of inflation caused by income distribution conflict and of endogenous money creation. It highlights the ability of large agricultural producers to set stocks at strategic levels to influence the price of agricultural goods (and hence the income distribution) and the ability of manufacturers to raise their profit margins. In both cases, access to credit is essential, thus forming the link to endogenous money theory. This gives monetary policy a critical role to play in a developing country’s pattern of income distribution.Publication Open Access A content analysis of educational advertising in Canterbury(Lincoln University. Commerce Division., 1996-04) Skoko, Hazbo; Williams, Lesley E.There is growing interest and evidence in the New Zealand education sector of the application of marketing principles and techniques. This has been brought about, in part, by a declining birth rate and a more market-driven economy. Faced by such changes educational institutions have increased their efforts to attract external funding and students. Advertising is one obvious way they have been doing this. This phenomenon, also reported in the UK, USA and Australia (Hayes, 1991; Pelletier, 1985; Stewart, 1991) in the past decade, is the focus of this paper. An initial investigation of New Zealand educational advertising research revealed little evidence of prior work in this field although overseas, institutional advertising appears to have attracted more research interest (McNamara,1985; Abernathy and Butler, 1992; Chamblee and Sandler, 1992). Given the limited budgets of many local educators, and their lack of marketing expertise, how are these managers promoting their services and how well are they doing this? The researchers examined these questions using educational advertisements collected over a five month period. Copy was then analysed using content analysis. Results indicated a heavy use of informative advertising, and a now ‘buy’ format. A high percent also list course components or subjects being offered, and provide contact names and numbers. These advertisements are, therefore, primarily akin to sales promotions.Publication Open Access Corruption, tax evasion and the Laffer curve(Lincoln University. Commerce Division., 1996-04) Sanyal, Amal; Gang, I.; Goswami, O.In a corrupt tax administration a rise in tax rate sets about complicated strategic decision moves by both tax payers as also tax administrators. It is shown that in some circumstances, this may bring about a Laffer like behaviour of overall tax revenue, ie a higher tax rate may result in a smaller net revenue for the government.Publication Open Access The role and importance of branding in agricultural marketing(Lincoln University. Commerce Division., 1996-03) Pay, Christopher J.; White, Mark R.; Zwart, Anthony C.A branding strategy is often employed in the marketing of manufactured or processed food products but many other food products have comparatively lower levels of branding. At the same time there are frequent calls to utilise branding as a marketing strategy for New Zealand’s export products. The branding literature to date does not seem to include any studies detailing the validity of branding for such products. In this study the theoretical relationship between the consumer’s requirement for branded products and the benefits to producers from branding are explored. Using a simple model developed from a theoretical framework, three hypotheses are tested using data collected from Christchurch supermarkets. The results provide some support for the ability of the model to predict the level of labelling used. However, the results did not show that labelling attracted a price premium for agricultural or horticultural food products.Publication Open Access A Keynesian theory of monetary inflation without government(Lincoln University. Commerce Division., 1996-01) Dalziel, Paul C.This paper presents a model of inflation that is generated by an excess supply of credit-money without any money base impulse from government. Instead, inflation turns out to depend on just three variables: the marginal debt-capital ratio of firms, the money-wealth ratio of households and the economy’s supply-side growth rate. The model is a standard equilibrium model of the money market presented within a process analysis framework based on the Keynesian investment saving identity and Keynes’s concept of the revolving fund of investment finance. The paper concludes with a discussion of the model’s implications for further research and policy development.Publication Open Access Responding to change : designing a university for the 21st century(Lincoln University. Commerce Division., 1995-03) Sauers, Daniel A.; Meyale, Asha J.This paper examines the need for universities to develop alternative organisational forms to deliver services which will meet the demands of government, business, and communities for a highly trained, technically skilled, well educated workforce. It postulates that in order to survive in the increasingly competitive tertiary sector, successful universities will need to be efficient, focused, committed to learning and be able to effectively reach beyond space and time. It looks at how communications technology can help forge new links between business and universities to create competitive advantage. Universities are ideally suited to this future but need to change from the traditional bureaucratic forms they have taken. We propose a small, flat organisational structure with a flexible, multi-skilled core, a strong group of strategic partners working on a contractual basis and a supporting resource of part-time flexible labour.Publication Open Access Corporate control and financial performance of New Zealand companies(Lincoln University. Commerce Division., 1996-01) Fox Mark, AThis study has two objectives. The first objective is to address the issue of management versus owner control of New Zealand public listed companies. Specifically the focus is on the extent to which shareholders in New Zealand's public companies may have the ability to influence the actions of management. The second objective of this study is to investigate the extent to which the ownership of New Zealand companies influences financial performance.