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Observes that, in some public schools in the USA, dual language instead of English only is being promoted as a plus and not the drawback it was once seen to be. Stresses there is still opposition to dual language or other languages being used in the US. Reckons that educated parents are the likeliest to seek dual‐language education for their children. Uses tables and figures to show the dual language options and variances. Concludes that there is potential for two‐way immersion to expand.

Lewbel and Pendakur (2009) developed the idea of implicit Marshallian demands. Implicit Marshallian demand systems allow the incorporation of both unobserved preference heterogeneity and complex Engel curves into consumer demand analysis, circumventing the standard problems associated with combining rationality with either unobserved heterogeneity or high rank in demand (or both). They also developed the exact affine Stone index (EASI) implicit Marshallian demand system wherein much of the demand system is linearised and thus relatively easy to implement and estimate. This chapter offers a less technical introduction to implicit Marshallian demands in general and to the EASI demand system in particular. I show how to implement the EASI demand system, paying special attention to tricks that allow the investigator to further simplify the problem without sacrificing too much in terms of model flexibility. STATA code to implement the simplified models is included throughout the text and in an appendix.

Three distinct trends are evolving that characterize the challenges facing corporate planners in managing language as a corporate asset. These are the evolution of the knowledge economy, the globalization of business and economy, and the increasing diversity of the workforce. These trends call for attention to the role language plays in the creation of intellectual and organizational capital. Linguists have been hampered by their inability to model how linguistic conditions affect economic processes. They have long attempted to assess the economic value of language as a commodity, but with little success. The purpose of this article is to describe language as an asset, and argue that recent advances in decision sciences have sufficiently removed the deficit in theoretical and empirical research that challenged the linguists.

Drawing an analogy between language and currency, this article identifies the functions that language must perform in terms of exchange, accounting and storage of information, knowledge and know‐how.

Factors that contribute to the value of a language are discussed through comparative analysis of these functions from the perspectives of linguists, economists and decision analysts. Based on the Social Judgment Theory, the article develops a judgment‐analytic framework for the assessment of the value of a language.

Concluding that the corporate and community planning perspectives are divergent, the paper identifies the direction for future research to inform formulation of language policies. The value of a language may be affected by the degree to which the language is used in the demographic community defining an organization's strategic environment, the investment in the language relative to other available languages, demand for the language as a commodity within the organization's strategic community, and so on.

With such conception of language, corporations can begin to think in terms of a portfolio of language assets much in the same way as it thinks of portfolio of financial currency assets.