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With significant changes in the aviation industry, various airport–airline arrangements have been formed to achieve alternative objectives. However, no consensus has been reached on such arrangements’ economic effects and the associated optimal public policy. This chapter aims to provide an interpretive review of the common types of airport–airline arrangements, the different modeling approaches used and key conclusions reached by recent studies. Our review suggests that airport–airline arrangements can take diverse forms and have been widely used in the industry. They may allow the airport and its airlines to internalize demand externality, increase traffic volume, reduce airport investment risks and costs, promote capacity investment, enhance service quality, or simply are a response to the competition from other airport–airline chains. On the other hand, such vertical arrangements, especially for those exclusively between airports and selected airlines, could lead to collusive outcomes at the expenses of non-participating organizations. The effects of such arrangements are also significantly influenced by the contract type, market structure and bargaining power between the airport and airline sectors. While case by case investigations are often needed for important economic decisions, we recommend policy-makers to promote competition in the airline and airport segments whenever possible, and demand more transparency or regulatory reporting of such arrangements. Policy debates and economic studies should be carried out first, before intrusive regulations are introduced.

In order to succeed in an action under the Equal Pay Act 1970, should the woman and the man be employed by the same employer on like work at the same time or would the woman still be covered by the Act if she were employed on like work in succession to the man? This is the question which had to be solved in Macarthys Ltd v. Smith. Unfortunately it was not. Their Lordships interpreted the relevant section in different ways and since Article 119 of the Treaty of Rome was also subject to different interpretations, the case has been referred to the European Court of Justice.

This study reviews the existing literature on the U.S. peer review system and the Public Company Accounting Oversight Board (PCAOB) inspection system to assess our knowledge of audit regulation. The traditional self-regulatory system of the accounting profession came to an end, in 2002, when the PCAOB was established to oversee the audit firms of publicly traded companies. This paper contributes to the controversial debate about self-regulation versus independent regulation by analyzing, categorizing, and comparing the research findings on the peer review system and the PCAOB system along three dimensions: the validity of peer reviews and PCAOB inspections, the recognition of reviews and inspections by decision-makers (e.g., investors, bankers, committees), and the effect of reviews and inspections on audit quality. Synthesizing the research on the regulatory regimes suggests that the notion of external quality control, both through peer reviews and government inspections, is positively linked with an improvement of audit quality. At the same time, the analysis indicates that external users do not seem to recognise peer review and PCAOB reports as very useful instruments for decision-making, which is in line with an identified rather skeptical perception of the audit profession on reviews and inspections. Overall, this study reveals that although the academic literature on peer review and PCAOB inspection is extensive it has not produced definitive conclusions concerning various aspects of audit regulation. This paper shows how this blurred picture is due to conflicting research findings, the dominance of the quantitative research paradigm, and unchallenged assumptions within the literature, and concludes by proposing research opportunities for the future.

Urban tourism in megacities is a rather recent research topic. There is a dearth of literature on urban tourism in Indian megacities, especially Mumbai. Though much research has looked into slum tourism activities, other urban tourism aspects have been kept aside. The chapter aims to present a different perspective of leisure tourism in Mumbai. After introducing some contextual background information on the city, the chapter examines critically official tourism communication and policies by tackling the spatiality of tourism and the geographical clusters in the city. It attempts to understand the consumption patterns of various tourists' groups and looks into recent tourism developments.

After nearly 12,000 years living in the Holocene geological age we have now arrived in the Anthropocene. Now, instead of an integral ecology that considers the world as having its ecology, economy, and justice systematically linked, we are confronted by an ecology dominated by a profit-driven economy.

Since its very first beginnings, Western philosophy has reflected on humanity’s relationship with nature. Is the history of Western philosophy, then, merely a reflection of the evolution of humanity from the Holocene to the Anthropocene? Or did Western philosophical thought, along with industrialization and economic development, play a far bigger part and was it, indeed, the regulator of this evolution?

Our spontaneous care for nature – not at any price or exclusively – has led to an elegy. However rereading Western philosophy can help us to discover that the evolution toward the Anthropocene could challenge man to descry meaning behind nature. The way man regulates nature can be oriented toward rediscovering meaning behind nature. And the question of transcendence cannot be avoided.

“Economists on the catwalk” provides an analytical review of the book Knowledge and the Wealth of Nations by David Warsh, with suggestions for a more comprehensive and accurate approach to the issues involved. Its purpose is to track the changes in economic thinking leading up to, and beyond, the theory of “Endogenous New Growth Theory” put forward by Paul Romer between the mid‐1980s and the mid 1990s, analyzing the part played by the current systems of peer‐review, academic funding and recruitment in university economics departments.

The paper discusses the book in the context of modern economic theories and developments in the field of economics from a broad‐based historical, global, multi‐cultural twenty‐first century perspective.

There has been a radical transformation in economic thinking over the past decade that is forcing a re‐evaluation of economic theory and teaching. A different approach to the subject is required to ensure that it remains relevant and applicable in the rapidly changing modern world.

The paper introduces the “waltz motif” theory of economist Peter Jay as a methodology for tracking trends in national economies; the concept of the “Battle of Ideas” in academic disciplines and in our lives; the process of knowledge acquisition; and the impact of the changing social contract. The paper is of particular value to teachers of economics and professional economists interested in an innovative, thought‐provoking approach to their subject and in the future of economic research as it is currently conducted in academic environments.

This chapter investigates how regional start-up rates in the knowledge-intensive services and high-tech industries are influenced by knowledge spillovers from both universities and firm-based R&D activities. Integrating insights from economic geography and organizational ecology into the literature on entrepreneurship, we develop a theoretical framework which captures how both supply- and demand-side factors mold the regional bedrock for start-ups in knowledge-intensive industries. Using multilevel data of all knowledge-intensive start-ups across 286 Swedish municipalities between 1994 and 2002 we demonstrate how characteristics of the economic and political milieu within each region influence the ratio of firm births. We find that knowledge spillovers from universities and firm-based R&D strongly affect the start-up rates for both high-tech firms and knowledge-intensive services firms. Further, the start-up rate of knowledge-intensive service firms is tied more strongly to the supply of university educated individuals and the political regulatory regime within the municipality than start-ups in high-tech industries. This suggests that knowledge-intensive service-start-ups are more susceptible to both demand-side and supply-side context than is the case for high-tech start-ups in general. Our study contributes to the growing stream of research that explains entrepreneurial activity as shaped by contextual factors, most notably academic institutions, such as universities that contribute to knowledge-intensive start-ups.

HIS holidays over, before the individual and strenuous winter work of his library begins, the wise librarian concentrates for a few weeks on the Annual Meeting of the Library Association. This year the event is of unusual character and of great interest. Fifty years of public service on the part of devoted workers are to be commemorated, and there could be no more fitting place for the commemoration than Edinburgh. It is a special meeting, too, in that for the first time for many years the Library Association gathering will take a really international complexion. If some too exacting critics are forward to say that we have invited a very large number of foreign guests to come to hear themselves talk, we may reply that we want to hear them. There is a higher significance in the occasion than may appear on the surface—for an effort is to be made in the direction of international co‐operation. In spite of the excellent work of the various international schools, we are still insular. Now that the seas are open and a trip to America costs little more than one to (say) Italy, we hope that the way grows clearer to an almost universal co‐working amongst libraries. It is overdue. May our overseas guests find a real atmosphere of welcome, hospitality and friendship amongst us this memorable September!

Strategic group theory has two distinct aspects. The first is a resemblance among firms grounded in a common pattern of investment; the second is a mutual dependence among firms in the strategic group. Each aspect is analyzed to develop implications for research generally and multi-level research particularly.

The aim of this chapter is to emphasize the importance of archival material and how, despite its secondary nature, it is capable of providing first-hand information for researchers. By providing a variety of examples from tourism, hospitality and leisure, this chapter demonstrates how this underused data can be a valuable resource for these areas of study. In order to illustrate how to use archival material as data, a step-by-step process to analyzing archival photographs is provided. The chapter discusses the challenges and ethical considerations associated with using archival material while also providing suggestions for the use of this data source in future studies.