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Market Theory (market + theory)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	75%

Selected Abstracts

The nature and influence of motivation within the MOA framework: implications for social marketing

INTERNATIONAL JOURNAL OF NONPROFIT & VOLUNTARY SECTOR MARKETING, Issue 4 2006
Wayne Binney
Social marketers acknowledge that to achieve optimum programme outcomes, identification and targeting of the non-conforming cohort is paramount. This article discusses the application of the social marketing framework, motivation, opportunity and ability (MOA) with a particular focus on the motivation aspect of the model. Motivation is considered from the perspectives of intrinsic and extrinsic motivation. Previously, the degree or level of motivation has been used in the operationalisation of the motivation construct, while in this paper the type of motivation is used as the basis for the construct. The construct is then applied to an environmental land management study, namely a rabbit control programme. Specifically, the aims of this paper were to further develop the MOA constructs, with a particular focus on motivation, including intrinsic and extrinsic motivation, to develop an understanding of the factors that are associated with ineffective behaviour and to develop a model to predict effective/ineffective control behaviour. Scales were developed to enable a study of the relationship between the MOA constructs, including intrinsic and extrinsic motivation, and the respondents control behaviour. Data were collected from a random sample of 566 respondents who were involved in the control programme. Using ANOVA and MANOVA techniques, significant differences were found between those landholders that exhibited effective control and ineffective control with regard to all MOA constructs. A multinomial logit (MNL) regression model was then developed to predict behaviour. This model showed that ability and intrinsic motivation were significant predictors of behaviour. The estimated model was able to predict recalcitrant landholders with 98% accuracy. The results of this study therefore provide a significant contribution to social marketing as it is the recalcitrant cohort that social marketers wish to understand and whose behaviour they frequently attempt to rectify in order to achieve stated social and/or environmental objectives. The implications for related social market theory, policy development and environmental management programmes are discussed. Copyright © 2006 John Wiley & Sons, Ltd. [source]

Reservation wages, labour market participation and health

JOURNAL OF THE ROYAL STATISTICAL SOCIETY: SERIES A (STATISTICS IN SOCIETY), Issue 3 2010
Sarah Brown
Summary., The concept of the reservation wage has played an important role in labour market theory, particularly in models of job search, labour supply and labour market participation. We focus on the determinants of reservation wages, with a particular focus on health, which has attracted very little attention despite its importance from a policy perspective. Using UK data we estimate an endogenous switching model which predicts reservation wages for the unemployed and market wages for the employed. Our results have important policy implications since they suggest that poor health is a major cause of economic inactivity. [source]

Labour Policy and Determinants of Employment and Wages in a Developing Economy with Labour Shortage

LABOUR, Issue 2 2010
Ibrahim Mohamed Abdalla
Using data from a sample of 1,099 workers, this paper investigates the determinants of employment and wages for workers in the United Arab Emirates. The paper further examines the wage distribution and the decomposition of the wage gap between the public and the private sectors. Results of the study are consistent with the dual labour market theory and indicate that the labour market in the United Arab Emirates is segmented based on sectors (public versus private) and types of workers (nationals versus non-nationals). The study concludes with a discussion of the implication of these findings for the effectiveness of labour and economic policy. [source]

The Global Financial Crisis and the Efficient Market Hypothesis: What Have We Learned?

JOURNAL OF APPLIED CORPORATE FINANCE, Issue 4 2009
Ray Ball
The sharp economic downturn and turmoil in the financial markets, commonly referred to as the "global financial crisis," has spawned an impressive outpouring of blame. The efficient market hypothesis (EMH),the idea that competitive financial markets exploit all available information when setting security prices,has been singled out for particular attention. Like all successful theories, the EMH has major limitations, even as it continues to provide the foundation for not only past accomplishment, but future advances in the field of finance. Despite the theory's undoubted limitations, the claim that it is responsible for the current worldwide crisis seems wildly exaggerated. This essay shows the misreading of the theory and logical inconsistencies involved in popular arguments that EMH played a significant role in (1) the formation of the real estate and stock market bubbles, (2) investment practitioners' miscalculation of risks, and (3) the failure of regulators to recognize the bubbles and avert the crisis. At the same time, the author argues that the collapse of Lehman Brothers and other large financial institutions, far from resulting from excessive faith in efficient markets, reflects a failure to heed the lessons of efficient markets. In the author's words, "To me, Lehman's demise conclusively demonstrates that, in a competitive capital market, if you take massive risky positions financed with extraordinary leverage, you are bound to lose big one day,no matter how large and venerable you are." Finally, behavioral finance, widely considered as challenging and even supplanting efficient markets theory, is viewed in this article as complementing if not reinforcing efficient markets theory. As the author says, "it takes a theory to beat a theory." Behavioralism, for all its important contributions to finance literature, is described as not a theory but rather "a collection of ideas and results", one that depends for its existence on the theory of efficient markets. [source]