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This paper aims to examine the anatomy of a real estate bubble. In the process, the paper identifies three phases of the market's evolution: flips, flops and foreclosures. An examination of the Las Vegas real estate market illustrates the three phases.

The paper examines transaction data from the metropolitan Las Vegas area (Clark County) from 1994 to 2009. The first part of the analysis identifies the three phases of the bubble and is descriptive in nature. This is followed by more formal tests of Granger causality.

In the early part of the sample, a large percentage of transactions are speculative or “flips” causing prices to rapidly increase. Eventually, flipping loses its profitability and over the last three years, there is an increasing number of foreclosures leading to falling prices. The descriptive analysis of the Las Vegas market is augmented with causality tests which show that prices were the driving force behind all three phases in the market's evolution.

Future research might focus on underlying structural inter‐temporal relationships to augment the Granger causality tests.

Analysis shows that price is the driving force behind a bubble and that loan modification programs alone will not solve the current housing crisis.

Government entities might expand neighborhood stabilization programs to affect both demand and supply of homes. Moreover, it might be prudent to include information related to flipping on multiple listing service agreements. Additionally, local governments should be consistent in their record keeping.

To the best of the authors' knowledge, this is the first paper to examine the housing bubble using an extensive set of transaction data.

The American Dream and homeownership are sometimes thought of as one and the same. A belief that homeownership is vital to the fabric of a vibrant society has led to government policies that encourage homeownership. This suggests that homeownership and societal well‐being are positively related. However, empirical analysis does not support this positive relationship either within the USA or across countries. This has important policy implications given the research in this special issue that discusses the macro and micro economic consequences of government programs that promote homeownership. Moving forward, we must consider both the private and public benefits of homeownership and also realize that the very concept of what a house is will likely change. This paper aims to discuss these issues.

The analysis examines the relation between the incidence of homeownership and the well‐being (happiness) of a community. The analysis is first performed across the 50 states and then is done on a cross‐section of 26 countries.

The correlation coefficient between home ownership rates and well‐being are negative for both the US and international data. The evidence does not support the belief that homeownership is either necessary or sufficient for societal well‐being.

The paper presents some of the first empirical analysis to examine the relationship between homeownership and societal well‐being. Other studies in this special issue document both public and price costs to owning a home. Taken together, the special issue has important implications for government policies that encourage homeownership.

The purpose of this conceptual paper is to argue that leadership, including distributed leadership, is a concept of folk psychology and is more productively viewed as an emergent self‐organising property of complex systems. It aims to argue the case on the basis that claims to (distributed) leadership outrun the theoretical and empirical resources distributed and other leadership theorists can offer to support them.

The paper employs contemporary scientific as well as traditional philosophical criteria in determining the knowledge claims made by distributed leadership theories. Of particular importance are the coherence theory of evidence that employs the super‐empirical virtues, especially coherence to establish the scientific virtue of theory, and the conception of leadership as part and parcel of folk psychology.

When considering the basis of claims to distributed leadership from a neuroscientific and empirical perspective, there is little basis in fact about the existence of (distributed) leadership as an ontological category. Talk of leadership is a conventional, commonsense label for vastly more complex and fine‐grained causal physiological and neuronal activities within certain social contexts. In this sense distributed leadership is a conception available for reduction.

The significance and originality of this paper lies in the fact that it proposes causal investigations of social phenomena such as leadership; demonstrates the importance and necessity of interdisciplinary research; and outlines exciting new research agendas that both question traditional taken‐for‐granted conceptions of social explanations and suggests directions of where solutions may be found in the future that are defensible by the best of current science.

There have been a plethora of social science studies of diasporas and immigrants in the USA. Research on Bosnian-Americans, however, has been relatively sparse. The purpose of this study is to understand the relationship between the first-generation Bosnian American's trauma and its transgenerational effects on the second generation.

Bosnian-Americans are a relatively recent immigrant community in the USA, as most of the first-generation immigrated between 1993 and 2002 due to the Bosnian War and its aftermath. This research paper studies second-generation Bosnians to understand transgenerational trauma and emotions carried from the Bosnian War. Through archival research and extended interviews, second-generation Bosnian-Americans were asked questions about Bosnian-American identity and their psychosocial adjustment including transgenerational trauma.

Analysis of the data shows that in the second generation, the psychosocial effects of the Bosnian War have partially been transmitted from the first generation. Understanding the complex constitution of diasporic second-generation identity is facilitated by connecting it to the traumatic backgrounds, life experiences and struggles of the first generation.

The main observation is that there is a transmission of trauma and emotions from the first generation to the second-generation Bosnian Americans, which can be clearly seen in the participants of this research. Forms of transgenerational trauma (e.g. silence) and transmission of emotions (e.g. trust, anger and emotional unavailability) have been a part of the second generation’s lives, which, in fact, shaped their identities and personalities (From my conclusion section).

In this paper, we present a proposed information environment (PROPIE) for enhanced interaction and value‐adding of electronic documents (e‐documents). The design of PROPIE was based on a thorough user needs and requirements assessment in interacting with information through well‐documented findings, and a focus group with twelve participants to elicit features that were deemed desirable in future interactions. The design was also based on an earlier work which reviewed the advancements in various user interface (UI) technologies, visualisation and interactive techniques, and a consideration of novel information structuring and organisation techniques that pose important implications for the design of more advanced UIs. Providing a suite of novel features and interactive tools that can be flexibly combined, PROPIE allows users to apply multiple novel ways to query intuitively and navigate information in an e‐document. The querying and browsing processes in PROPIE are supported by various interactive and visualisation techniques. Users work within a visually sovereign, integrated environment for information gathering and organising, based on navigable, fractional information objects that are also affiliated with rich metadata and additional layers of value‐adding information. A set of interface mock‐ups was developed to demonstrate the potential of the environment in supporting the design of a new generation of electronic journals (e‐journals). We report here empirical results from a study conducted to obtain representative users‘ feedback with regard to using PROPIE for interacting with e‐journals. Twenty‐two participants from a variety of academic backgrounds participated in the evaluation. Overall, PROPIE was found to have the potential both for enhancing the user’s interaction with information captured within e‐journals and for adding value to e‐documents in various ways.

The paper seeks to highlight how academic libraries are harnessing widgets to make library resources easily and conveniently accessible to users. Examining the characteristic features, purposes of use and types of widget applications, the paper aims to measure the degree of implementation of widget among academic libraries in different regions.

A stratified sampling method was followed for selecting four samples of population, each representing one of the four continents (North America, Europe, Australia and Asia) and content analysis was used to collect data along the checkpoints.

Giving a comparative account of widget implementation along the select dimensions, the study focused on relative acceptance of widgets among the continents and emphasized the areas where widget is being applied most. With examples, the study also illustrated the relevance of the different approaches taken by various libraries.

The study was confined to selected libraries of higher education institutes among the four continents only. Libraries having non‐English websites and restricted or limited access were not included.

This unique investigation presented a comprehensive picture of widget implementation among the academic libraries across the world. The findings will serve as a valuable guide for future librarians who wish to incorporate such technologies in library websites. Furthermore, the checkpoints used here may serve as a bedrock for framing questionnaire and interview schedule for conducting future research investigating users' perception of this new web‐based tool in order to comprehend fully the practicability and usefulness of widget.

The foundation collection of the printed books now forming the Library of the British Museum was that of Sir Hans Sloane. This comprised about 40,000 volumes. To it was added in 1759 the Royal collection, begun in the time of Henry VII and inherited by George II from his predecessors on the throne.

The purpose of this paper is to highlight findings regarding human perception in allied disciplines and to argue that information behaviour research needs to find ways to address human characteristics that imply that: first, subjects are likely to fail to recognize information that is present in an environment and potentially relevant to a task at hand; and second, subjects would not be able to report on the fact that they failed to recognize the information. The authors also discuss as to how information behaviour research can address the aforementioned challenges resulting from human movement and perception.

The author draws on the literature primarily in cognitive science and psychology to highlight the findings that are most relevant to the scientific study of information behaviour, to develop a model of the information environment in which information behaviour is situated, and to critically examine how data is collected in information behaviour research. Ways to provide more comprehensive information about information behaviour are also discussed.

The literature in cognitive science and psychology suggests that failing to notice information relevant to a task at hand may not be the exception but to be expected, and needs to be taken into account by information behaviour researchers. Popular data collection methods including questionnaires and interviews do not pick that up because subjects would not be aware of the fact which means in turn that they cannot articulate the fact either. This suggests that: first, current models of information behaviour focus too much on one side of the coin; and second, information behaviour researchers may need to complement their data collection methods with data collection methods such as gaze tracking.

This is a conceptual paper based on the careful analysis of relevant research primarily in cognitive science and psychology. Relating theory to practice provides a strong indication of the general validity of the findings but there may be other aspects that have not been covered as yet.

The paper is unique in that it critically reviews information behaviour research from a human perception and movement point of view. There have been papers criticizing information behaviour research from a methodological point of view. This paper adds to that body of work and proposes a way forward.

The purpose of this paper is to examine housing speculation in Auckland, New Zealand, the second most unaffordable market in the world.

The study considers rental property purchases from 2002 to 2016 within the Auckland region. The authors apply a simple cash flow model that emulates the before-tax investment calculations used during purchasers’ due diligence. From this model, the authors determine whether purchases involved speculation on capital gains or not and the authors estimate the degree of speculation at the transaction level.

The authors find that housing speculation in Auckland is endemic and its housing market is a politically condoned, finance-fuelled casino with investors broadly betting on tax-free capital gains.

Although political leaders have decried that the “speculation-driven housing bubble in Auckland is a social and economic disaster”, the government’s main anti-speculation tool – the Income Tax Act’s intention test – sits idle and inoperable. By holstering this key policy tool, politicians foster housing speculation and use residential property investment to buttress New Zealand’s asset-based welfare system.

The authors develop novel methods to objectively distinguish speculators from genuine investors, measure the speculative pressure applied by individual rental property purchasers and outline an evidence-based approach to operationalise New Zealand’s currently impotent anti-speculation tool, the intention test.