Search

The gamma-Poisson form of the negative binomial distribution (NBD) model generally gives a good fit to many aspects of repeat-buying behavior for a wide range of frequently bought branded consumer goods. Nonetheless, empirical evidence suggests that purchasing a particular brand-size in successive equal time-periods tends to be more regular than Poisson. An alternative model is therefore examined in which inter-purchase times for a given consumer are described by an Erlang distribution rather than by the negative exponential distribution implicit in the Poisson assumption of the NBD model. But it is found that the NBD model is robust to this kind of departure. Because of its greater simplicity, the NBD model therefore seems preferable for practical use. [ABSTRACT FROM AUTHOR]

This article focuses on the range of a central good in Punjab, India. Walther Christaller is particularly explicit in distinguishing between the population of a center and that center's importance. He observes that the ranges of non-essential goods, with elastic demands, will be most affected by a widespread change in price. He demonstrates that price-induced changes in the range of a good may alter the rank of a good from high to lower orders with price reductions, and from lower to higher orders with price rises. The commodity utilized in the study, milled white cotton cloth, was selected as an item commonly and frequently purchased in districts of Punjab.

The article discusses the persistence of price controls, which were established by wartime conditions, when major military operations are over. Full employment, more exactly an optimum quantitative utilization of manpower and plant resources, will probably still be in existence at the end of major military operations. Whether or not it will then cease owing to a sudden stoppage of war orders and disorderly reflux of soldiers, will largely depend on governmental policy, though there is virtual agreement on the necessity of avoiding sudden idleness of men and machines on a huge scale. Excess demands for civilian goods compared with their available quantities will, for a while, survive the end of military operations, with individual earnings and savings at a high level and the bulk of national production geared to non-civilian goods. Military consumption will, however, be considerably reduced at once, even if occupation of foreign areas and the requirements of international security should necessitate the maintenance of substantial armed forces.

Focuses on the choice of law in multistate unfair competition in the U.S. Impact of the growing complexity of product distribution on the common law tort of unfair competition; Role of the uniformity of substantive law in the oldest segment of unfair competition on the diversity of substantive rules; Influence of unfair competition to the requirement of examination and application of the law of every state.

Discusses several U.S. court cases as of March 1941. Court case on the delegation of authority to prescribe a Fair Trade Code; Fair hearing on the unconstitutional statute of a milk marketing board due to members' pecuniary interest in price-setting; Claim for value of goods purchased without intention of paying.

Experiments revealed wide differences in efficiency among workers engaged in inspecting articles for appearance, the worst workers making two-and-a-half times as many errors as the best. A group of tests successfully divided the workers into a more and a less efficient group. Elimination of certain unnecessary movements in sorting, and the construction of a new sorting station at which the men could sit or stand at will, reduced the number of faulty articles passed by more than half. The effect of fatigue and boredom appears to be to lower the standard of inspection: the number of mistakes made remains approximately constant, but they include a larger proportion of faulty articles passed, and a smaller proportion of good articles rejected. [ABSTRACT FROM AUTHOR]

El artículo discute la evolución y posición del sistema internacional monetario. Se menciona un estudio realizado por el Fonda Monetario Internacional acerca del sistema monetario y la necesidad futura de liquidez. El estudio recomendó varios métodos en cómo se podía incrementar la oferta de liquidez internacional. El artículo también habla de los riesgos comerciales con respecto al objeto del seguro, los bienes, y los mecanismos institucionales.

Se presentan noticias que tratan de la economía de los Estados Unidos. Se informa que la producción industrial había declinado en junio de 1960. Se dan estadísticas sobre el superávit presupuestal en 1960. Se dan pronósticos para las cosechas. El Eximbank estudiaba mayores facilidades para los exportadores de bienes de consumo.