Tim W. Hudson

Japanese couples’ marital roles in stages of product purchase decision making

Seeks to fill some of the gaps in the business literature regarding the consumer market in Japan. Accomplishes this through a replication of the classic 1974 work of Davis and Rigaux relating to family purchase decision making. An egalitarianism scale was included for the final analysis to allow for differences in couple perceived traditionality‐modernism. Finds that the heavily patriarchal orientation of Japan still exists with husbands exerting heavy influence in the final stage of the decision‐making process and offers suggestions for management.

The effect of ceded reinsurance on solvency of primary insurers

Primary insurance companies diversify their underwriting risk and thus improve their financial stability through buying reinsurance contracts. However, excessive use of reinsurance by an insurance company may signal the presence of financial difficulties. In fact, as research shows, a less solvent insurer tends to use more reinsurance because of its inability to raise needed capital in the financial market. Thus, regulators need to pay extra attention to insurers that overly use reinsurance since such behavior could signal an insurers disproportionately high risk and its eventual probability of insolvency.

Solvency regulation in the property-liability insurance industry

This paper evaluates guaranty funds and solvency regulations. One main question addressed is how solvency regulations will benefit consumers. Many previous studies have found that most forms of solvency regulations do not have significant deterrent effects on insolvency. Even when solvency regulations are effective, they might still adversely affect consumers. This could happen because increasing the probability of solvency usually requires raising premiums. Therefore, it is interesting to see how regulators should design insurance regulations that benefit consumers. Insolvency of insurance firms provides a unique environment under which one is able to analyze the effects of solvency regulations and guaranty funds on the quality of insurance products and on consumers. This paper shows that guaranty funds are always desirable, but solvency regulations are of certain value only when they have the effect of protecting guaranty funds and alleviating the disincentives which they create.

An inflation-hedging portfolio selection model

This paper suggests an investment strategy which allows an investor to specify the desired return on investment to be equal to the expected rate of inflation plus a certain premium rate, and then helps the investor select those stocks which will provide the greatest chance of meeting that specified investment goal.

Cuban Geography in Higher Education: Survival in the ''Special Period''

Abstract Geography in higher education survives in Cuba today, despite political isolation and a grave economic crisis. The interests, methodologies, and programs of Cuban geographers will be familiar to North American geographers. The “special period” in Cubas history presents special issues, challenges, and opportunities for Cuban and North American geographers working in concert.

Hansen's disease in the United States.

This article offers a general overview of Hansens Disease (leprosy) and examines in some detail the spatial characteristics and demographic profiles of known sufferers. Over the years the pejorative labels attached to the disease and the societal and psychological attitudes which produce and accompany them have stigmatized leprosy sufferers. Unfortunately this stigma has often pre-empted rational understanding and treatment. Contrary to popular belief, leprosy, caused by the bacteriological agent Mycobacterium leprae, is relatively non-contagious and can be rendered completely non-contagious by chemotherapy. Incidence rates in the United States are extremely low (0.08 per 100,000 in 1979), but have shown a slight if erratic increase since 1942. Most of this can be attributed to increases in the number of foreign born cases; a result of immigration from areas of higher incidence (e.g. Southeast Asia, Latin America). Six states, California, Texas, Hawaii, New York, Florida, and Louisiana accounted for over 80% of the 1432 cases reported in the United States between 1967 and 1976.

U.S. insurance trade

The U.S. has had significant trade deficits in insurance for several years. This paper examines the reasons for such big annual deficits. A large home market, a low reinsurance capacity, and the conservative attitude of U.S. insurers toward foreign markets are identified as the primary contributors to such deficits. The paper also addresses the issue of how U.S. insurers can improve their international competitive position. By expanding their operations abroad, particularly in Mexico and Latin America, and by actively participating in the fast-growing Asian markets, American insurers have their greatest chance to accomplish that objective.

China's foreign trade policy and world trade organization membership

This paper provides an overview of Chinas major economic reforms and how they impacted certain key domestic economic indicators such as income, production, employment, and prices. More importantly, the paper concentrates on Chinas foreign trade focusing on such issues as import and export policies, exchange rate controls, foreign investments, balance of payments, traded commodities, and major trading partners. Chinas chance of becoming a member of the World Trade Organization is also addressed.

The exchange rate mechanism's role in the european monetary system

The European Community was established with the intent of reaching full economic, monetary, and political union among its member countries. The three elements of the European Monetary System—the Exchange Rate Mechanism, the European Currency Unit, and the European Monetary Fund—were designed to work together to achieve monetary integration among the member states. German reunification, as a result of the collapse of the Berlin Wall, played an important role in the failure of the Exchange Rate Mechanism. Many steps will need to be taken in order for the European community to obtain full economic and monetary union.