Program in search of a policy: The chrysler loan guarantee

In 1979, the U.S. government responded to the threat that Chrysler might close its doors with a program that had almost no U.S. precedents. The policy that lay behind the program was obscure at the time and remains so. A variant of the traditional argument for the protection of infant industries offers the glimmering of a rationalization. But defining a general policy in such cases remains a task for the future.     

THE FORGOTTEN ROYAL COMMISSION: PUBLIC SERVICE REFORM IN WESTERN AUSTRALIA

The publication Public Service Inquiries in Australia edited by R.F.I Smith and Patrick Weller (1978) concentrated on the wave of inquiries that swept Australia in the 1970s with most attention being given to the Royal Commission on Australian Government Administration (RCAGA). While the focus of the book was on contemporary developments, Roger Wettenhall's chapter 2 outlined "A Brief History of Public Service Inquiries" so as "to set the present generation of inquiries more firmly in a historical context" (1978, p.15).     

A useful tool for evaluating potential mediators

Conclusion Overall, the guidelines published by NIDR are a useful set of standards that should become a valuable reference tool for those responsible for evaluating and selecting mediators. Each institution that is involved in this process will find the guidelines useful as they develop their own criteria. George H. Friedman is vice president for case administration of the American Arbitration Association, 140 West 51st St., New York, N.Y. 10020.Allan D. Silberman is vice president for education and training with the AAA.The authors are grateful for the input on this brief commentary received from their AAA colleagues Thomas R. Colosi, vice president for national affairs, and Robert E. Meade, vice president for program development.     

"Bru-u-u-uce": The simple economics of mob goods

This paper provides a pure economic rationale for chronic excess demand for tickets to events like rock concerts. The model focuses on "mob goods", which are consumed jointly with crowd reaction, or "noise". Whereas the primary commodity is provided by the seller, the joint product is provided collectively by buyers. If propensities to make noise are inversely correlated with reservation prices and a capacity constraint applies, excess demand (queuing) is a necessary condition for profit maximization. One important implication is that anti-scalping laws may be welfare-increasing. The paper explores other applications in professional sports, restaurants, and on-stage theatre.