...2012-2013 PAWNSHOPS AND BEHAVIORAL ECONOMICS 193 PAWNSHOPS, BEHAVIORAL ECONOMICS, AND SELF-REGULATION SUSAN PAYNE CARTER* AND PAIGE MARTA SKIBA** I. Introduction Pawnbroking is the oldest source of credit.1 There is growing public interest in day-to-day pawnbroking operations, as evidenced by the popularity of reality shows such as “Pawn Stars” and “Hardcore Pawn.”2 Television viewers’ curiosity about an old credit institution may be due to the fact that 7% of all U.S. households have used pawn credit.3 Although pawnshops predate biblical times, researchers know surprisingly little about this ancient form of banking and its customers.4 We fill this gap by documenting detailed information on pawnshop loan repayment and default, and by discussing how pawnshop borrowers’ behavior is consistent with various behavioral economics phenomena. Pawnshop loans are small, short-term, collateralized loans typically used by low-income consumers. The borrower leaves a possession, or “pledge,” as collateral in exchange for a loan, typically of $75–$100.5 Interest rates vary by state and range from 2 Assistant Professor, Office of Economic and Manpower Analysis, United States Military Academy. susan.carter@usma.edu. The views expressed in this paper do not necessarily represent those of the United States Military Academy, the United States Army, or the Department of Defense. ** Associate Professor of Law, Vanderbilt University...
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...2012-2013 PAWNSHOPS AND BEHAVIORAL ECONOMICS 193 PAWNSHOPS, BEHAVIORAL ECONOMICS, AND SELF-REGULATION SUSAN PAYNE CARTER* AND PAIGE MARTA SKIBA** I. Introduction Pawnbroking is the oldest source of credit.1 There is growing public interest in day-to-day pawnbroking operations, as evidenced by the popularity of reality shows such as “Pawn Stars” and “Hardcore Pawn.”2 Television viewers’ curiosity about an old credit institution may be due to the fact that 7% of all U.S. households have used pawn credit.3 Although pawnshops predate biblical times, researchers know surprisingly little about this ancient form of banking and its customers.4 We fill this gap by documenting detailed information on pawnshop loan repayment and default, and by discussing how pawnshop borrowers’ behavior is consistent with various behavioral economics phenomena. Pawnshop loans are small, short-term, collateralized loans typically used by low-income consumers. The borrower leaves a possession, or “pledge,” as collateral in exchange for a loan, typically of $75–$100.5 Interest rates vary by state and range from 2 Assistant Professor, Office of Economic and Manpower Analysis, United States Military Academy. susan.carter@usma.edu. The views expressed in this paper do not necessarily represent those of the United States Military Academy, the United States Army, or the Department of Defense. ** Associate Professor of Law, Vanderbilt University...
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...Netscape's public offering in 1995.' Bullish investors believed Google could set off a string of successful IPOs and put an end to a fouryear lull in technology offerings. 2 Executives at Google faced several questions in the following months, beginning with whether or not to sell shares to the public market.' If they made the decision to take the company public, what options did Google have for selling those shares? Was the traditional form of book-building through an investment bank necessarily the best course of action? As large investment banks were courting Google's potentially enormous business, management had to evaluate the different options available for a company ready to move forward. Ultimately, Google chose to sell its stock through W.R. Hambrecht + Co.'s OpenIPO, which was modeled on auction-based offering formats in France, Japan and elsewhere. In 2004, Hambrecht's track record of success was mixed at best and even today the future of this IPO format in the United States is far from certain. IN THE SPRING OF 2004, GOOGLE WAS ONE OF THE MOST TALKED-ABOUT I. HISTORY AND BUSINESS MODEL In 1995, Larry Page, 24, and Sergey Brin, 23, first met as Stanford University computer science graduate students.4 Their company Web site describes that first encounter as a clash of personalities that eventually led to their now-famous creative solution for retrieving relevant information from large sets of data.' At the time, search engines, for the most part, ranked search results...
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...American Business Law Journal Volume 45, Issue 2, 283–330, Summer 2008 The Impact of Compulsory Licensing on Foreign Direct Investment: A Collective Bargaining Approach Robert Birdn and Daniel R. Cahoynn I. INTRODUCTION The need to facilitate access to essential medicines for those with lifethreatening or fatal diseases like HIV, tuberculosis, and malaria has generated significant interest. Yet, an inevitable tension exists between the need for pharmaceutical companies to profit from their patented inventions and the desire to provide access for impoverished persons. Developing nations have attempted to resolve this tension through the issuance of patent compulsory licensesFauthorizations for government-approved generic copies1Fso that those in need of the n Assistant Professor of Business Law, School of Business, University of Connecticut. This article received the Holmes-Cardozo Award for Outstanding Submitted Conference Paper as well as the Ralph J. Bunche Best Paper Award at the Academy of Legal Studies in Business Annual Meeting, Indianapolis, IN, August 2007. Our thanks for comments and support go to Jayashree Watal, Peter Yu, Douglas Lippoldt, and the other participants at the University of Connecticut’s Center for International Business Education and Research Conference, ‘‘The Impact of Intellectual Property Rights on Innovation, Knowledge Diffusion, and Foreign Direct Investment in the Global Economy,’’ Storrs, CT, May 2007. Additional thanks to Anthony Kwasnica and...
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...UNDERGRADUATE REGULATIONS & SYLLABUSES 2014 - 2015 THE FACULTY OF SOCIAL SCIENCES TABLE OF CONTENTS MESSAGE FROM THE DEAN ............................................................. 3 UNDERGRADUATE PROGRAMMES ................................................ 4 ACADEMIC CALENDAR 2014-2015 ................................................ 5 DEFINITIONS ...................................................................................... 13 GENERAL INFORMATION & REGULATIONS .............................. 14 General Regulations for Bachelor of Science Degrees 14 Special Regulations for Degrees in Hospitality and Tourism Management........................................................... 27 Franchise Agreements .......................................................... 27 EVENING UNIVERSITY -GENERAL INFORMATION & REGULATIONS ................................................................................... 28 General Regulations for Bachelor of Science Degrees 28 General Regulations for Diploma Programmes ............ 36 General Regulations for Certificate Programmes ......... 37 STUDENT PRIZES .............................................................................. 38 CODE OF CONDUCT ........................................................................ 39 UNIVERSITY REGULATIONS ON PLAGIARISM .......................... 40 THE ACADEMIC SUPPORT/ DISABILITIES LIAISON UNIT (ASDLU) ..............................................................................................
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...VINCENNES UNIVERSITY CATALOG Vol. LXIX August, 2010 No. 61 A COMPREHENSIVE TWO-YEAR COLLEGE OFFERING ASSOCIATE DEGREES IN THE LIBERAL ARTS, SCIENCES, EDUCATION, ENGINEERING, AND TECHNOLOGY AND OFFERING BACCALAUREATE DEGREES IN SPECIALIZED AREAS Accreditation The North Central Association of Colleges and Schools 30 North LaSalle Street, Suite 2400, Chicago, IL 60602 (312) 263-0456 www.ncacihe.org FAX 312-263-7462 Accreditation Review Council on Education in Surgical Technology and Surgical Assisting American Bar Association American Board of Funeral Service Education American Health Information Management Association Association of Collegiate Business Schools and Programs Commission on Accreditation of Allied Health Educational Programs Commission on Accreditation in Physical Therapy Education Federal Aviation Administration Higher Education Coordinating Board of the State of Washington Indiana State Board of Nursing Joint Review Committee on Education In Radiologic Technology National Alliance of Concurrent Enrollment Partnerships National Association of Schools of Art and Design National Association of Schools of Theatre National League for Nursing Accrediting Commission Printing Industries of America, Inc. Approved for Veterans Membership The American Association of Community Colleges Aviation Technician Education Council The Council of North Central Two Year Colleges The Higher Education Transfer Alliance The National Academic Advising Association The North Central Association...
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...THE FUTURE OF FORECLOSURE LAW IN THE WAKE OF THE GREAT HOUSING CRISIS OF 2007-2014 Clinical Professor of Law Notre Dame Law School Judith Fox 54 WASHBURN L. J. (forthcoming, 2015) Notre Dame Law School Legal Studies Research Paper No. 1504 A complete list of Research Papers in this Series can be found at: http://www.ssrn.com/link/notre-dame-legal-studies.html This paper can be downloaded without charge from the Social Science Research Network electronic library at http://ssrn.com/abstract=2573203 Electronic copy available at: http://ssrn.com/abstract=2573203 The Future of Foreclosure Law in the Wake of the Great Housing Crisis of 2007-2014 Judith Fox* ABSTRACT As 2014 came to an end so, perhaps, did the worst foreclosure crisis in U.S. history. On January 15, 2015, RealityTrac, one of the nation’s leading reporters of housing data, declared the foreclosure crisis had ended. Whether or not their declaration proves true, the aftermath of the crisis will be felt for years to come. During the crisis it is estimated more than five million families lost their homes to foreclosure. Federal, state and local responses to the crisis changed laws and perceptions regarding foreclosure. Despite these changes, we end the crisis much the way we began---with a nationwide foreclosure system mistrusted and disliked by lenders and consumers alike. This paper examines the responses to the crisis in an effort to determine what worked, what did not, and where foreclosure law should...
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...Transforming Lives Communities The Nation …One Student at a Time Disclaimer Academic programmes, requirements, courses, tuition, and fee schedules listed in this catalogue are subject to change at any time at the discretion of the Management and Board of Trustees of the College of Science, Technology and Applied Arts of Trinidad and Tobago (COSTAATT). The COSTAATT Catalogue is the authoritative source for information on the College’s policies, programmes and services. Programme information in this catalogue is effective from September 2010. Students who commenced studies at the College prior to this date, are to be guided by programme requirements as stipulated by the relevant department. Updates on the schedule of classes and changes in academic policies, degree requirements, fees, new course offerings, and other information will be issued by the Office of the Registrar. Students are advised to consult with their departmental academic advisors at least once per semester, regarding their course of study. The policies, rules and regulations of the College are informed by the laws of the Republic of Trinidad and Tobago. iii Table of Contents PG 9 PG 9 PG 10 PG 11 PG 11 PG 12 PG 12 PG 13 PG 14 PG 14 PG 14 PG 14 PG 15 PG 17 PG 18 PG 20 PG 20 PG 20 PG 21 PG 22 PG 22 PG 22 PG 23 PG 23 PG 23 PG 23 PG 24 PG 24 PG 24 PG 24 PG 25 PG 25 PG 25 PG 26 PG 26 PG 26 PG 26 PG 26 PG 26 PG 27 PG 27 PG 27 PG 27 PG 27 PG 27 PG 28 PG 28 PG 28 PG 28 PG 28 PG 33 PG 37 Vision Mission President’s...
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...GLOBAL SUPPLY CHAIN MANAGEMENT MO255 NIKKI WONG XIAO XUAN NORTHUMBRIA UNIVERSITY (2897 Words) Executive Summary The objective of this report is to develop Singapore as a premier global hub port and international maritime centre, and to safeguard Singapore strategic maritime objectives. Research for this report includes evaluating the application on Lean and Total Quality Management (TQM) in logistics and supply chain networks to achieve Maritime Port Authority (MPA) objectives such as quality of service, competitiveness, reliability and efficiency. The major findings shows that lean implementation improves processing times achieving more work in less staff time and bringing services up to standard. (Radnor, Walley, Stephens, & Bucci, 2006). It also changes the focus of management from optimizing separate technologies, assets, and vertical departments to optimizing the flow of products and services through entire value streams that flow horizontally across technologies, assets, and departments to customers. Lean helps to eliminate waste along entire value streams, instead of at isolated points, creates processes that need less human effort, less space, less capital, and less time to make products and services at far less costs and with much fewer defects, compared with traditional business systems. Also, it requires keeping far less than half the needed inventory on site, results in many fewer defects and produces a greater...
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...Energy Economics 40 (2013) 32–39 Contents lists available at ScienceDirect Energy Economics journal homepage: www.elsevier.com/locate/eneco A model of competition in the solar panel industry Unni Pillai a,⁎, Jamison McLaughlin b a b College of Nanoscale Science and Engineering, University at Albany, SUNY, 257-Fuller Road, Albany, NY-12203, USA Ross School of Business, University of Michigan, USA a r t i c l e i n f o a b s t r a c t We develop a model of competition in the solar panel industry. Solar firms manufacture panels that are differentiated both vertically and horizontally, and compete by setting quantities. The equilibrium of the model is consistent with a set of stylized facts that we document, including variation in prices, markups and market shares across firms. We calibrate the model using a new dataset data on prices, costs and shipments of leading solar companies, as well as solar sales in four leading markets. The calibrated model is applied to evaluate the impact of a decline in the price of polysilicon, a key raw material used in the manufacture of solar panels, on the equilibrium price of solar panels. © 2013 Elsevier B.V. All rights reserved. Article history: Received 12 June 2012 Received in revised form 14 May 2013 Accepted 20 May 2013 Available online 14 June 2013 JEL classification: L19 Ł13 O30 Keywords: Photovoltaics Competition Polysilicon 1. Introduction The electricity generation sector is the leading contributor of greenhouse...
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...Management MANAGEMENT 3100 Intermediate Financial Accounting I Course Outline – Fall 2014 Instructor: Carla Carnaghan, Ph.D., CISA, CMA Office & Hours: Calgary Campus office, 5:00 – 6:00pm Thursdays. Please email for appointment, and for alternative times. Office hours may be done in person, with Webex, or by phone, and for smaller issues with email. E-mail: Carla.Carnaghan@uleth.ca (emails received in the evening, particularly after 10 PM, may not be responded to until the next day) Telephone: 1- 403-329-2351 (Lethbridge office – Please use e-mail where possible) Class Times: Y Section: Th 1800-2050 (S6013A) Course Web Page: on Moodle Course Pre-requisites* Prerequisites: MGT 2400; ECON 1010 and 1012 and STAT 1770 or admission to the CA Bridging Program/Professional Diploma in Accounting; a minimum C- grade is required in all prerequisite courses; MGT 3040 (co-requisite) * It is the responsibility of students to check the prerequisites for courses before registration. If students are registered in a course for which they do not have the prerequisites, and they have not received prior permission from the appropriate program chair, they can be de-registered. If this occurs after the drop/add date, tuition will not be refunded. Course Objectives Building from MGT 2100, this course examines the accounting concepts, principles, judgments, and techniques used in recording business events and preparing...
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...Boston College Environmental Affairs Law Review Volume 39 | Issue 2 Article 7 6-1-2012 Accounting for Emissions Trading: How Allowances Appear on Financial Statements Could Influence the Effectiveness of Programs to Curb Pollution Laura E. Souchik Follow this and additional works at: http://lawdigitalcommons.bc.edu/ealr Part of the Environmental Law Commons Recommended Citation Laura E. Souchik, Accounting for Emissions Trading: How Allowances Appear on Financial Statements Could Influence the Effectiveness of Programs to Curb Pollution, 39 B.C. Envtl. Aff. L. Rev. 475 (2012), http://lawdigitalcommons.bc.edu/ealr/vol39/iss2/7 This Notes is brought to you for free and open access by the Law Journals at Digital Commons @ Boston College Law School. It has been accepted for inclusion in Boston College Environmental Affairs Law Review by an authorized administrator of Digital Commons @ Boston College Law School. For more information, please contact nick.szydlowski@bc.edu. ACCOUNTING FOR EMISSIONS TRADING: HOW ALLOWANCES APPEAR ON FINANCIAL STATEMENTS COULD INFLUENCE THE EFFECTIVENESS OF PROGRAMS TO CURB POLLUTION Laura E. Souchik* Abstract: Cap-and-trade programs to curb carbon emissions frequently rely on the use of tradable emissions credits known as “allowances.” To date, companies' presentations of their usage of these allowances on their financial statements has not been uniform. Cap-and-trade programs will be most effective when presentation of allowances on...
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...International Journal of Project Management Vol. 17, No. 4, pp. 207±216, 1999 # 1999 Published by Elsevier Science Ltd and IPMA. All rights reserved Printed in Great Britain 0263-7863/99 $ - see front matter PII: S0263-7863(98)00032-5 An integrated framework for project portfolio selection NP Archer* and F Ghasemzadeh Michael G. DeGroote School of Business, McMaster University, Hamilton, Ontario, Canada L8S 4M4 The task of selecting project portfolios is an important and recurring activity in many organizations. There are many techniques available to assist in this process, but no integrated framework for carrying it out. This paper simpli®es the project portfolio selection process by developing a framework which separates the work into distinct stages. Each stage accomplishes a particular objective and creates inputs to the next stage. At the same time, users are free to choose the techniques they ®nd the most suitable for each stage, or in some cases to omit or modify a stage if this will simplify and expedite the process. The framework may be implemented in the form of a decision support system, and a prototype system is described which supports many of the related decision making activities. # 1999 Published by Elsevier Science Ltd and IPMA. All rights reserved Keywords: Project portfolio selection, project management, integrated framework, decision support Introduction Project portfolio selection and the associated activity of managing selected projects throughout...
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...Virtual Teams: A Review of Current Literature and Directions for Future Research1 The DATA BASE for Advances in Information Systems Anne Powell Southern Illinois University Edwardsville Gabriele Piccoli Cornell University Blake Ives University of Houston Winter 2004 (Vol. 35, No. 1) Introduction Global competition, reengineered product life cycles, mass customization, and the increased need to respond quickly to customers’ needs are just some of the more pronounced trends currently driving organizational change (Grenier & Metes, 1995; Miles & Snow, 1986; Miles & Snow, 1992). One of the building blocks of these successful organizations is the Virtual Team. As a consequence, a growing number of organizations are implementing them or plan to implement them in the near future (Lipnack &Stamps, 1997; McDonough et al., 2001) and their use is expected to continue to grow (Carmel & Agarwal, 2001; McDonough et al., 2001). The increasing popularity of virtual teams has spurred a parallel growth in research examining various aspects of virtual team adoption and use. Recent research has studied virtual team inputs, socioemotional processes, task processes, and outcomes. Much of this literature focuses on comparisons of virtual teams and traditional teams. Virtual Teams Traditionally, both the terms “team” and “group” have been used to describe small collections of people at work. While the two terms are often used interchangeably...
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...Journal of International Money and Finance xxx (2014) 1e24 Contents lists available at ScienceDirect Journal of International Money and Finance journal homepage: www.elsevier.com/locate/jimf Living with the trilemma constraint: Relative trilemma policy divergence, crises, and output losses for developing countries Joshua Aizenman a, 1, Hiro Ito b, * a b University of Southern California and the NBER, University Park, Los Angeles, CA 90089-0043, USA Department of Economics, Portland State University, 1721 SW Broadway, Portland, OR 97201, USA a b s t r a c t JEL classification: F31 F36 F41 O24 Keywords: Impossible trinity International reserves Financial liberalization Financial crisis Exchange rate regime This paper investigates the potential impacts of the degree of divergence in open macroeconomic policies in the context of the trilemma hypothesis. Using an index that measures the relative policy divergence among the three trilemma policy choices, namely monetary independence, exchange rate stability, and financial openness, we find that emerging market countries have adopted trilemma policy combinations with the least degree of relative policy divergence in the last 15 years. We find that a developing or emerging market country with a higher degree of relative policy divergence is more likely to experience a currency or debt crisis. However, a developing or emerging market country with a higher degree of relative policy divergence...
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