Roger S. Hewett
The American Revolution is conventionally considered to be a war of principle, centered, to a large extent, on the issue of taxation. Yet there is substantial confusion about the nature of American tax principles in the late eighteenth century. This paper argues that colonial support for local control and collection of taxes, reflecting the ability to pay and the benefits received principles of tax equity, was widespread in the Revolutionary era. However, these revolutionary principles failed to be embodied in the Constitution. (N41, H2, B1)
Jodi Messer Pelkowski
This paper examines the role of adult children in the informal care of the elderly. The Health and Retirement Study data are used to investigate the characteristics of the caregivers and their relationship with the parent(s) receiving care. The expectation of receiving a bequest in the future does not appear to be the motivating factor of providing care. Surprisingly, the working status of the adult child has little impact on the propensity to provide personal care to parents. Regardless of marital status, the parent(s) and child living within 10 miles of each other and the parent(s) needs were important factors in the provision of care. Males and adult children with living sisters are less likely to provide care than their counterparts. The estimates suggest that factors that influence the propensity to provide care and financial assistance do vary somewhat according to the marital status of the parent. (I10)
Jason Zimmerman
Analysis of data from the 1999 Gambling Impact and Behavior Study reveals the existence of two types of gamblers: those for whom winning money is an important motivation to gamble, and those who gamble primarily for entertainment. Gamblers motivated by the hope of financial success exhibit significantly greater demand for a variety of gambling services than leisure players. These results suggest the need for better consumer education about the mathematics of gambling. (L83)
Colin M. Ramsay and Anna Vygodina
We consider a profit maximizing restaurateur who operates in a two-period environment in which she faces uncertain demand in each period. We further assume that all customers served in the first period return for service in the second period. The restaurateur's decision is to set her two-period price and capacity at the start of the first period in order to maximize her expected discounted profits over both periods. Using a simple demand function we derive an expression for the expected discounted profits, the first order condition for maximizing profits. We show that the primary effect of the uncertainty is on the restaurant's capacity rather than the price of its meals. (D24, D42, D81)
Bienvenido S. Cortes
This paper evaluates and extends earlier studies by Sakakibara and Porter (2001) and by Doi (2001) on the market share instability of leading Japanese firms. Using the data set provided by Sakakibara and Porter, I reexamine the determinants of market share instability, correct some empirical problems, and test a more parsimonious model. My results refute Sakakibara and Porter's conclusions and show general support for Doi's findings. I find that in tight oligopolistic markets, high concentration and stable firm positions are consistent and compatible occurrences. Finally, outside pressures are more important than internal industry characteristics in explaining domestic rivalry in Japan. (L1)