In this paper, we propose the normalized revealed comparative advantage (NRCA) index as an alternative measure of comparative advantage. The NRCA index is demonstrated capable of revealing the extent of comparative advantage that a country has in a commodity more precisely and consistently than other alternative RCA indices in the literature. As a result, the NRCA index is comparable across commodity, country, and time. Therefore, the NRCA index provides a useful tool for quantitative regional research, especially for studies on regional comparative advantage.

The normalized revealed comparative advantage index

Accumulated theoretical and empirical evidence suggests that wine prices depend upon quality, reputation and objective characteristics. Unlike previous studies, we recognize that quality and reputation are latent constructs and therefore employ factor analysis and 2SLS techniques to consistently estimate hedonic prices in the presence of attributes measured with error. The application to Australian premium wines points to significant reputation effects but insignificant quality effects. It is also illustrated that inappropriately using standard OLS procedures can seriously distort the statistical significance of attributes; the implicit marginal attribute prices; and the predictions of 'average' prices for a given set of characteristics.

Hedonic Wine Price Functions and Measurement Error

Purpose – The purpose of this paper is to compare and contrast customer perceptions related to satisfaction with conventional grocery stores as compared to specialty grocery stores. The study examines store attributes of product assortment, price, quality, and service in order to determine which attributes have the greatest impact on store satisfaction for each store format.Design/methodology/approach – A mail survey was sent to a sample of specialty and conventional grocery store customers. The ten state sample was drawn from US households located in postal (ZIP) codes in areas where national specialty stores (e.g. whole foods) were located.Findings – Perception of satisfaction were higher among specialty grocery store customers compared to conventional grocery store customers. For both store formats, store price, product assortment, service and quality positively influenced satisfaction. Stepwise regression indicated that each store attribute contributed differently to store satisfaction for conventiona...

Customer satisfaction in food retailing: comparing specialty and conventional grocery stores

With the research on hedonic price theory serving as background, this study examined how the overall price of a sun-and-beach package tour was determined by choice of tour operator, choice of destination, hotel star rating, and a number of different attributes characterizing the package tour. In addition, the study drew attention to a particular problem in previous price hedonic tourism research: the possible endogeneity of the hotel star rating variable. To address this issue, a hierarchical regression procedure was adopted. This procedure permitted the tracing of the attributes’ possible indirect effects on overall package tour prices through the hotel star rating variable. The results help consumers identify those package tour attributes that they have to pay extra for as opposed to those that they do not, and at the same time provide tour operators with a useful instrument for strategic pricing.

Hedonic Price Models and Sun-and-Beach Package Tours: The Norwegian Case

In this paper the authors investigate enjoyment of the shopping experience, its influence on consumers’ intention to repatronise a regional shopping centre and the effect of gender differences on shopping enjoyment. Four dimensions of shopping enjoyment are proposed and a 16-item measure is developed to assess 536 consumer perceptions of the shopping experience across five counties in the United Kingdom. Findings indicate that shopping experience enjoyment has a significant positive influence upon customers’ repatronage intentions. Furthermore, men are found to have a stronger relationship of enjoyment with repatronage than women. The implications of these results are discussed, together with managerial implications, study limitations, and future research directions.

/pdf/enjoyment-of-the-shopping-experience-impact-on-customers-5at6xs7duf.pdf

Enjoyment of the shopping experience: impact on customers' repatronage intentions and gender influence

Econometric models of export demand for Australian dairy food (milk dry and butter) are developed
and estimated in this paper using unrestricted error correction modelling procedure and data for the
period 19752000. The findings indicate that, in the short run As well as in the long run, export
demand for Australian milk dry and butter in Thailand decreases when Australia's export price relative
to that of competing countries increases. The estimated long run relative price elasticity of export
demand for Australian milk dry and butter in Thailand are, -2.75 and -1.13, respectively. Export
demand for Australian butter in Thailand declines when the Thai baht depreciates against the
Australian dollar, and the estimated long run exchange rate elasticity of demand is -6.34

Export Demand for Australian Dairy Food in Thailand

University students often view economics as one of the most challenging subjects. In this paper, we explore whether the same attitude is shared by students at an offshore campus. The analysis is based on a survey of onshore and offshore students in an Australian university. The focus of the paper is on identifying similarities/differences in student attitudes towards economics, their degree of motivation, satisfaction with the content and the delivery of lectures and tutorials, major challenges, and student profile characteristics. A non‐parametric test indicates significant differences between the two cohorts, in terms of their age, enrolment status, paid work commitments, prior study of economics, their motivation and approach to studying the subject, and satisfaction with both the content and the delivery of the lectures/tutorials. The findings in this study are helpful in developing strategies for enhancing student learning in culturally diverse cohorts.

Comparison of onshore and offshore student learning experience in an economic unit of study

Textile and Clothing Industries: Trade and Trade Policies

The Experience of Microeconomics Students at Victoria University

Australia’s share of intra-industry trade (IIT) in its total trade of textiles and clothing (TAC) is one of the lowest among the OECD countries. However, over the recent years there has been a rising trend in Australia’s IIT in some categories of TAC products. The purpose of this paper
is to analyse the extent and determinants of Australia’s bilateral IIT in TAC. The Grubel-Lloyd index is used to measure the extent of IIT, and econometric models are developed and estimated using the Tobit model estimation procedure to analyse the determinants of Australia’s bilateral IIT in TAC with eleven of Australia’s major trade partner countries. The findings from the estimated model for textiles indicate that, as expected, the extent of
Australia’s bilateral IIT in textiles increases with expanding average market size, average per capita income, and openness, and greater participation in trading agreements between Australia and trading partners. However, as expected, the extent of Australia’s bilateral IIT in
textiles decreases with increasing differences in average market size, average per capita income and the distance between Australia and trading partners. Contrary to expectations, increases in average capital to labour ratio seems to reduce the extent of Australia’s bilateral
IIT in textiles. The results from the estimated model for clothing reveal that, as expected, the extent of Australia’s bilateral IIT in clothing increases with increasing average per capita income and greater participation in trading agreements, while it decreases with increasing difference in average per capita income between Australia and trading partners. However, in
contrast to expectations, Australia’s bilateral IIT in clothing decreases with increasing average market size, while it increases with increasing difference in average market size, between Australia and trading partners.

https://vuir.vu.edu.au/16057/1/Havrila_Australias_1567.pdf

Australia's bilateral intra-industry trade in textiles and clothing

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