Discussed in this paper is the entrepreneurial intent of two cultures, China and India. The dichotomy exhibited in these two societies is vast--the history of the Chinese mores is of order and harmony with a defined hierarchy whereas the proud tradition of India exhibits a culture of pluralism, debate and dissent. Recent emerging markets have encouraged the people of both these cultures to proactively seek new opportunities, convert resources into marketable goods, and bear the risk associated with achieving profits. The risk-loving attitude of these entrepreneurs correlates with internal locus of control.

ABSTRACT Because of the complex pressures facing businesses, organizations must ensure that employees have the skills necessary to negotiate conflicts. A crucial question is how negotiation is defined, whether an individual knows they are involved in a negotiation process instead of a static situation, and to what degree they have control of the negotiated outcome. This paper informs future negotiation research on the correct approach to control for perceived negotiation appropriateness in studies of negotiation process and skills. OBJECTIVE A basic process of human behavior is the ability to negotiate both in interpersonal and organizational interactions. There is a large body of research on negotiator characteristics and the influence that these characteristics have upon the negotiation process and outcomes. Much of the existing literature focuses on the negotiation skill and traits associated with achieving a favorable outcome from the negotiation process. This concern for individual efficacy in the negotiation process is consistent with the pressures challenging global business. In the complex environment facing global business, organizations must ensure that employees have the skills necessary to negotiate conflicts. A potential shortcoming of this line of research is that individuals may differ in their perception of the appropriateness of negotiation, particularly intensive negotiation. Crucial questions that may influence the individual's reaction include how negotiation is defined; whether an individual knows they are involved in a negotiation process instead of a static situation; and to what degree they are perceived to have control of the negotiated outcome. A perceived situational ambiguity may influence who chooses to negotiate. The analysis is similar to the difference between problem recognition and problem solving skills. Recognizing the opportunity to negotiate precedes negotiation. This paper directly addresses the nature of negotiation recognition in the negotiation process. There are two potential approaches to situational ambiguity. First, it could be treated as a one-dimensional indexed trait like risk aversion. Just as some individuals are more risk averse, perhaps some individuals are more prone to avoid intense negotiation if it might not be appropriate. Alternatively, the appropriateness of negotiation may be a matter of individual perception. If so then different individuals will have different ratings for the appropriateness of a negotiation process. The relationship between these ratings will not show a dominance of negotiators versus negotiation avoiders, but rather a non-transitive ordering of when negotiation is appropriate. Educational and life experience define an individual's outlook on the negotiation process. LITERATURE REVIEW John Nash presented bargaining as a nonzero-sum two person game with the opportunity for mutual benefit. How much satisfaction each individual should expect from the situation determines the solution to the negotiation (1950). Although Rubin and Brown (1975) defined negotiation as the process of deciding what each will give and take in an exchange, the key element of negotiation occurs whenever the allocation of gains among participants to an agreement is subject to their own choice rather than predetermined by their circumstances (Cross, 1969, ? 1). Negotiation involves agreements in concert (Conger, 1998), but management educators who teach negotiation recognize that managers often have little experience and very differing views of when negotiation is appropriate (Hastorf & Cantril, 1954; Ross & Ward, 1 995, 1996; Pronin, Puccio, & Ross, 2002). Filipczak in 1994 found an estimated $50.6 billion is spent on formal training programs and that there has been a 30-40%» increase in training for specific interpersonal skills in the area of negotiation. Education, gender, and life experience define an individual's outlook on how negotiation is used to control an outcome (Bowles, Babcock, & McGinn, 2005; Stuhlmacher and Walters, 1999; Deaux & LaFrance, 1998; Deaux & Major, 1987; Maccoby, 1990); Kray, Galinsky, & Thompson, 2002; ). …

This article looks at the relationship between the problems faced by small business owners and the funding sources used to solve those problems. Three problem types are identified: organizational systems, external, and sales and marketing problems. Based on these three problem types and the funding sources used by owners, the market is segmented into three groups using cluster analysis. Segment 1 is made up of firms with few problems. This segment uses the widest array of financial sources. Segment 2 has more problems than segment 3, but both need help with organizational systems resulting in the use of fewer sources.

ABSTRACT In an era of dynamic challenges facing business education in the USA, one challenge stands out prominently. That challenge is the retention of students. As the USA population becomes more diverse, college age students are becom ing more diverse. This paper examines some of the research on the recruitment and retention of African American students. In particular, one university's experience is analyzed in how it followed a broad marketing plan to recruit and retain African Americans in its BBA programs. INTRODUCTION A major challenge facing higher education in the U.S.A. is the retention of minority students. In particular, mainstream colleges and universities have had difficulties retaining African American students. Numerous studies have documented this retention problem (Hodkison, 2001; Laguardia, 1998; Lee, 1999; McDaniel & Graham, 2001). Many explanations for high drop out rates among African American students in traditional universities (i.e. not in historically black institutions) exist. For example, under preparation for college level work, the lack of a collegial, supportive community, isolation, and the competitive atmosphere found at many universities are a few of the reasons for retention problems among African Americans as compared to their white counterparts. (Zea, Reisen, Beil & Caplan, 1997). In particular, traditional schools of business have especially encountered difficulties retaining African American students. Since most accredited business programs are rigorous, analytical, demanding, and competitive by nature, retention of students has always been problematic. For African American students, many of whom are first generation college students, the challenge of doing well and completing the B.B.A. degree is particularly difficult. This paper examines some of the broad challenges facing business school educators in the U.S.A as the population becomes more diverse. The research literature addressing retention of African Americans in colleges and universities is reviewed. Then, data from the National Center for Education Statistics is analyzed for clues about retention of African Americans in BBA programs. Finally, the experiences of one regional university are discussed. This particular university has had notable success in recruiting and retaining African Americans in its College of Business Administration. CHALLENGES FACING BUSINESS EDUCATION IN THE USA In 2002, an in-depth study of business school education was published by AACSB International. The task force commissioned to do this study was named the METF (Management Education Task Force) and was largely comprised of deans from AACSB schools. (Olian, Caldwell, Frank, Griffin, Liverpoool & Thomas, 2002). The METF was asked to study critical issues facing the business school industry in the USA and to recommend possible remedies. Also, an additional challenge facing the METF was to look at the future of business school education and to develop recommendations for how AACSB and its member schools could bring about changes in several key areas. According to the METF study, the context for business school education has changed greatly even since the mid-1990's. For example, in the USA, currently the size of the college age population suggests that business school enrollments will grow. However, juxtaposed to this upcoming bulge in the size of the traditional college age population is the fact that the market share of business degrees, as a percentage of all degrees awarded in the USA, fell to slightly less than 20% in the late 1990's? This drop was down from a historic high of 24% in the late 1980's. (Olian & et.al., 2002). This drop should be a warning to business school educators that actions need to be taken. There are some indications that the demand for graduate level business degrees in the USA is waning. For example, Business Week, in its 2004 yearly special feature on rankings of MBA programs, found that MBA application numbers are down across the nation. …

CASE DESCRIPTION The primary subject matter of this case concerns the effect of the new credit program at the discount window on the behavior of the federal funds rate. The objective is to teach students how the basic demand-and-supply framework is employed to analyze the conduct of monetary policy in the reserve market. This case would be appropriate for a money and banking class, a monetary economics class, a financial economics class, an intermediate or an advance macroeconomic theory class. Level of difficulty could be at three or four. The case is designed to be discussed in one and one-half hours and should take students less than three hours of outside preparation. CASE SYNOPSIS The Federal Reserve employs three monetary policy tools: the required reserves, the open market operation (which affects the federal funds rate) and the discount policy. Traditionally (i.e., before January 9, 2003), the Fed set the discount rate below the targeted market federal funds rate, but prohibited banks from using the discount window. As a result, the volume of outstanding discount loans was normally small even though the discount rate is cheaper than the federal funds rate. On January 9, 2003, the Federal Reserve introduced new lending programs, which are different from their predecessors in several aspects. The most significant changes are (1) the discount rates are now set above the prevailing federal funds rate, and (2) banks face very few restrictions on their use of primary credit. The proposal to make such changes is based on the following beliefs. First, it will eliminate the existing incentive for banks to borrow from the window to exploit the positive spread, and hence reduce the administration necessary for each discount loan. Second, as a result, it should help encourage banks to turn to the discount window only when the reserve markets tighten significantly and thereby the window serves as the last resort and a backup source of liquidity for individual depository institutions. Third, the discount rate will become an improved safety valve for releasing significant market pressures. INSTRUCTORS' NOTES The case introduces students to the application of the basic demand-and-supply framework to the analysis of conduct of monetary policy, in particular, the new credit program at the discount window adopted in January 2003 by the Federal Reserve System. Concepts involved in the case include demand and supply, reserve markets, discount rate, federal funds rate, discount window, interest rate stability, and monetary policy. CASE QUESTIONS AND ANSWERS 1. In the reserve market, how do the Fed's restrictions on discount loans affect the supply curve? More specifically, what happens to the supply curve if the terms become more or less restrictive? The Fed can change the monetary base by using two monetary policy tools: (1) open market operations that determine the nonborrowed monetary base (Rn); and (2) discount policy that includes the discount rate and the terms on the restrictions. So, in general, the supply curve in the reserve market is kinked at the discount rate with two segments: the lower part is vertical, indicating the nonborrowed monetary base, whereas the upper part is determined by the terms specified in the discount policy. A steeper upper segment indicates more restrictive terms specified in the discount policy (panel (a) in Figure 1), and a flatter upper part reflects looser requirements for discount loans (panel (b) in Figure 1). As an extreme case, when all strings are taken away, the supply curve becomes L-shaped, see panel (c), Figure 1. [FIGURE 1 OMITTED] 2. Why was the volume of discount loans relatively small even when the discount rate was set below the targeted federal funds rate (before January 2003)? What are the main costs under such a discount policy? Traditionally (before January 9, 2003), the discount rate (iD) was set below the targeted federal funds rate (iff), but the terms specified in the discount policy were very restrictive. …

ABSTRACT The purpose of this paper is to clarify this question: Is there a strong enough body of evidence to establish whether there is any relationship between personality characteristics of senior executives and strategic decision-making? A related question is: Do senior executives 'personalities differ significantly from other people? To help answer the second question, a comparative study was conducted using undergraduate business students and senior level executives. SALIENT PERSONALITY CHARACTERISTICS: LOCUS OF CONTROL The study of strategic management and organizations has historically followed two very separate approaches. The first approach has been called sociological in that organizational phenomena (like strategic decision making) are viewed as a product of structural factors. The second approach, the psychological perspective, views those same phenomena as the result of the personalities of specific individuals (Perrow, 1970). An extensive literature review of the psychological perspective of strategic management suggests that the single most studied personality construct is locus of control (Rotter, 1966). Over one thousand studies have been conducted using the locus of control. Locus of control is closely linked to other personality dimensions related to strategic decision making such as need for achievement (McClelland, 1961), work ethic orientation (Furnham, 1 990), and need for mastery and competitiveness (Spence & Helmreich, 1983). Essentially, locus of control suggests that individuals may have a generalized set of expectancies about whether environmental outcomes are controlled internally or externally. The individual who believes that he can control the outcomes and events in his life is characterized as internally controlled. In contrast, the individual who does not believe that he can control outcomes or events is characterized as externally controlled. The external is more likely to believe that outcomes are the result of luck, fate, or destiny (Phares, 1973). Two major literature reviews (Henricks, 1985; Spector, 1982) suggest that in American culture, an internal locus of control is associated with the most successful managers (Whetten & Cameron, 1995). For example, in studies of leadership and group performance, internals were found to more likely be leaders. In those same studies (Anderson & Schneider, 1978; Blau, 1993) groups led by internals were more effective than those led by externals. Numerous studies demonstrate a link between locus of control and strategic decision-making. For example, internals have been found to out perform externals in stressful situations (Anderson, Hellriegel & Slocum, 1977); internals engage in more entrepreneurial activity than externals (Durand & Shea, 1974; Cromie, Callahan & Jansen, 1992; Bonnett & Furnham, 1991); and to demonstrate and are more satisfied with a participative management style than externals are (Runyon, 1973). Studies of chief executives found that firms led by internals were more likely to engage in more innovative, riskier projects, more market place leadership, longer planning horizons, more environmental scanning, and more highly developed technology than external led firms (Miller, Kets de Vries & Toulouse, 1986). In summary, our original question does seem to have an answer: There does appear to be enough scientific evidence in the research literature to suggest that internal locus of control is associated with successful strategic decision makers (Whetten & Cameron, 1995). DO SENIOR EXECUTIVES' PERSONALITIES DIFFER FROM OTHERS? The second part of our paper attempts to answer this question: Do senior executives' personalities differ significantly from other peoples? Since most business schools accredited by A. A.C. S. B. require some kind of integrating Capstone experience in which students are expected to act like senior strategy managers, we think it is important to answer the question. …

ABSTRACT This research compares the effect of 9/11 on casino gaming revenues in Las Vegas and Mississippi. ARIMA models with intervention and transfer functions are used to estimate a time series model for each market. The models show a significant negative downturn in gaming revenues for Las Vegas post 9/11. A similar downturn in gaming revenues in Mississippi is not observed. Air travel is introduced as an explanatory variable for the negative intervention in Las Vegas. This research shows that air travel has significant explanatory power both pre and post 9/11 for Las Vegas gaming revenues. Implications for casino operators are then discussed. INTRODUCTION Since September 2001 there has been speculation about the effects of terrorism and changes in the airline industry on various segments of the US economy. In this paper we will show that a statistically significant drop in Las Vegas, Nevada casino gaming has occurred. The methodology used will clearly demonstrate that the decline is not attributable to seasonal shifts or pre-existing trends in gaming revenues. Additionally we will show that there has not been a corresponding drop in Mississippi casino gaming revenues since September 2001. Having established that Las Vegas gaming revenues have decreased significantly since 9/11, we introduce air travel as a possible explanatory variable. A relatively large percentage of Las Vegas gamblers arrive via commercial aircraft, while most Mississippi gamblers come from adjoining states and do not fly to the casinos. The airline industry and resorts that rely on airlines maybe some of the hardest hit by the economic effects of 9/11. In the two weeks following 9/11 some 240 conventions cancelled events in Las Vegas (Verhovek & Kaufman, 2001). By October of 2001 forecast national convention revenues had been adjusted downward from 96 billion to 76 billion. The drop in convention revenue is partially attributed to excessive media coverage of the airplane disasters of 9/11 (Barabosa, 2001). Early evidence shows that the decline in air travel may not be short lived. Nationally air travel was down 14.6% in December 2001 versus the prior year. A February, 2002 USA Today survey showed that 43% of respondents reported that they were afraid to fly, almost the same percent as the 44% reported in November of 2001 (Morrison, 2002). Prior to 9/11 only 10% of Americans reported that they were afraid to fly. In a 2003 survey the percentage of Americans afraid to fly was 40% (Fitzpatrick, 2003). If customers are unwilling to use commercial air service, this reluctance may explain, in part, a downward shift in Las Vegas gaming revenues. If Las Vegas gaming revenues are significantly affected by the general publics willingness to fly while other casino markets do not depend on air travel for their visitors then Las Vegas casinos face a significant threat to their ability to continue to grow and maintain their dominate market share. The same threat that Las Vegas faces may also be an opportunity for casino operators who can operate casinos in regional markets such as Mississippi. MISSISSIPPI CASINO INDUSTRY Mississippi ranks as the third largest casino market in the United States, with more than 50 million people visiting the state's casinos each year (Mississippi Gaming Commission, 2003; Meyer-Arendt, 1995). Additionally, operations in the state have been consistently regulated, facilitating analysis over time (Russell, 1997). Legislation in Mississippi authorizing gaming on navigable waterways was passed in 1990, and the first casino opened in mid-1992. While some have classified Mississippi casinos as a form of riverboat gambling (Roehl, 1994), large facilities with adjoining hotels, restaurants, and entertainment facilities generate most revenues today. During the period of 1992 to 2002, annual casino gaming revenues increased from $121 million to over $2. …

ABSTRACTIn the standard scoring procedure for multiple‐choice exams, students must choose exactly one response as correct. Often students may be unable to identify the correct response, but can determine that some of the options are incorrect. This partial knowledge is not captured in the standard scoring format. The Coombs elimination procedure is an alternate scoring procedure designed to capture partial knowledge. This paper presents the results of a semester‐long experiment where both scoring procedures were compared on four exams in an undergraduate macroeconomics course. Statistical analysis suggests that the Coombs procedure is a viable alternative to the standard scoring procedure. Implications for classroom instruction and future research are also presented.

ABSTRACT What determines the attitudes that students have toward governmental agencies, regulatory bodies, and political systems? This paper begins with a review of the historical foundations of today's economic beliefs concerning the role of government. Survey data is then used to explore individual economic beliefs and student attitudes toward government. A factor analysis of these survey instruments reveal underlying attitudes toward government and economic institutions. A regression analysis explores the linkages between these belief systems. INTRODUCTION The economic literature has a rich history of discussions as to when, why, and how government should intervene. Early economic thinkers such as Mill and Sidgwick posed questions that are still viable for today's college students. Since those beginnings, further research has studied the impact of economic education on beliefs and attitudes. Stigler (1959) defines economic conservatism related to the study of economics as student beliefs and attitudes on the functioning of private ownership and competitive markets to allocate resources in an efficient manner and limit private power. Boulding (1969) recognizes the interdependence of economic and political attitudes and the social process. He advocates considering this as an important topic for economic education research. This paper extends that literature by linking free enterprise attitudes to political attitudes. A factor analysis of survey responses is used to identify alternate attitudes toward the free enterprise system. One set of factors reflects beliefs about the market allocation of resources and the efficiency of the free enterprise system. Another set of factors captures beliefs about private ownership and private power in a capitalist system. A separate factor analysis identifies components of political attitudes. Regression analysis is then employed to investigate the correlation between attitudes as reflected in the free enterprise factors, political factors, and gender. HISTORICAL FOUNDATION Both John Stuart Mill and Henry Sidgwick endeavored to construct a comprehensive theory regarding the intervention of government in instances of recognized market failure: When government should intervene, why should government intervene, and how these interventions should be implemented. (Schwartz 1966, Grampp 1965, and O'Donnell 1976.) A solid answer to this issue is not assured even today. The appropriate scope of government intervention is an ongoing topic of political debate. The alternate philosophies of government intervention have their foundations in the historical arguments concerning government and the economy. Jeremy Bentham, one of the founders of utilitarianism, believed morals and legislation could be described scientifically (Bentham, 1789). Bentham's main concern was consequences of private acts, not motivations prompting this behavior. The government's role was to reconcile society's goals with individual self-interest. Bentham was very pragmatic in his approach: nothing was, in principle, outside the purview of a legislative solution. He feared government's powers of coercion but admitted to its necessity to prevent greater evils (Stephen 1950). Sidgwick's brand of utilitarianism was based on precepts intuitively known, what he regarded as common sense. Under his hand, Bentham's greatest good implied one's concern for others as well as himself: an ethical standard. Like Bentham, he focused on consequences of laws to promote this harmony: government action should make individual's actions more conducive to the happiness of others, particularly in cases of imperfectly defined property rights (O'Donnell, 1976). Mill retained the utilitarian method and approach but included certain non-utilitarian ideas. He was primarily concerned with the happiness of the individual (Mill, JS, 1863). He distinguished between immutable laws, which were not the subject of human choice, and those that were. …

In this paper, we investigate the macroeconomic impact on U.S. state economies of differences in the percent of the employed in private sector unions and the percent of the employed in public sector unions. Using annual data from 1983 through 1996 for the 48 contiguous U.S. states, we search for contrasting impacts of private and public sector union density on state economic conditions. Four individual equations are estimated, one for each economic measure: state unemployment rates, wage inflation, productivity growth, and GSP growth. Then, tests are conducted to determine the relative difference between private and public unions. Using a fixed effects model, in each equation we find significant differences between the effects of public and private union density on labor markets and economic growth. We conclude that disaggregating union data provides some insights toward the future as public unions expand to represent a larger percentage of total union membership.

INTRODUCTION When an organization is undergoing change, the manner in which change decisions are communicated determines the nature of the perceived risks involved in the change process and the extent of resistance to change. To illustrate the importance of communication in managing change, this paper draws upon the literature on risk preference and preference reversal for individuals facing uncertain decisions. Based upon the manner in which a change decision is communicated or framed individuals will alter their resistance to change alternatives. Framing occurs when the context or presentation of a decision creates a climate that influences the decision. In general, the issue of framing occurs when decision-makers evaluate a proposition on the context in which the outcome is presented, not just on the underlying outcomes (Parker and Spears, 1999). Framing in the communication of human relation decisions is important for an organization facing restructuring, job loss, or change. Framing has been used to explore questions involving the importance of perceptions on insurance, gambling, and medical decisions. Experimental studies have documented that decision-makers react differently to the same proposition depending upon the manner in which it is presented. This phenomenon is known as preference reversal and violates a strict expected utility analysis of decision making (Machina, 1987). Framing is one aspect of the growing literature in behavioral finance. This research specifically recognizes the influence of psychology on the behavior of financial practitioners (Shefrin, 1999). Furthermore, framing is influenced by individual factors such as personality types and gender (Parker and Spears, 2002). A survey instrument is used that parallels the classic framing of disease and death to analyze the framing of restructuring and job loss. This approach permits us to determine that framing within the communication of human relation decisions exhibits the preference reversal phenomenon for corporate restructuring issues. Since framing is a significant factor for decisions involving restructuring and change, the communication of change decisions will influence an organization's attitude toward and resistance to change. It is the purpose of this paper to explore the link between framing and managing the organizational change process. THE COMMUNICATION OF CHANGE Communication is an important aspect of organization design, change, and strategic management. Managing the communication of change is of vital importance to the organization and determines how organizations adapt to the environment (Daft, Bettenhausen, and Tyler, 1995). Communication by managers after both internal and external decisions are made is as big a part of a strategic initiative as gathering information is prior to decision-making. For example, the news of a Fortune 500 company making a large number of employee layoffs can be framed quite differently by internal and external communication sources. Is the company in trouble and destined for failure, or is the company making strategic changes that will strengthen the organization? Consequently, an announcement of layoffs may result in either increases or decreases in the stock price of the company depending upon the frame accepted by investors. The framed structure can be defined as the configuration of information and control systems within an organization as well as the formalized configuration of roles and procedures for managing the communication process (Ranson, Hinings, and Greenwood, 1980). To be successfully objective about what change is required, a new frame has to be viewed. Since it is difficult to correctly identify cause-and-effect relationships, there is a blurring between success and failure as results become interpreted using personal perspectives and frames of reference (Van de Ven and Poole, 1995, Van de Ven, Angle, and Poole, Van de Ven, Dooley, and Holmes, 2000). …

ABSTRACT Recent literature has explored the effect of personality type on economic education. This paper extends that literature by tying personality types and to individual decision making for issues involving risk and uncertainty. This study replicates findings that the framing of uncertain decisions, although a violation of strict expected utility theory, is a widespread phenomenon. Through reported personality measures, framing, gender, and personality types are linked. These finding demonstrate that both personality types and are important when considering the evaluation of decisions involving risk and uncertainty. Personality types, as well as gender, are found to yield significant differences in decision making both in terms of risk preference and framing. Since behavior is influenced by personality type and gender, then the concern for economic educators is that learning is also influenced. INTRODUCTION Risk preference and preference reversal, also known as framing, are significant factors for evaluating decisions involving risk and uncertainty. Behavioral studies have explored issues where the framing of questions involving insurance, gambling, and medical decisions influences perceptions. Experimental studies have documented that decision-makers react differently to the same proposition depending upon the manner in which it is presented. This phenomenon is known as preference reversal and violates a strict expected utility analysis of decision-making (Machina, 1987). A related question is which individuals are more likely than others to be prone to either risk avoidance or preference reversal? We explore this question by incorporating personality types and into an analysis of risk preference and preference reversal. It is the purpose of this paper to explore the link between personality, gender, risk, and framing. GENDER, PERSONALITY TYPE, AND DECISION MAKING Gender is one of the most important independent variables that should be investigated when looking at risk and decision making (King & Hinson, 1994). Women communicate and make decision differently than men. Brown (1996) states that gender begets (p 243) and in decision making and risk situations, behaviors consistent with roles are most likely to be affected. One of the most evident manifestations of roles is in the risk women are willing to take in making decision. Recent Literature concludes that women have a lower preference for risk than men (Hyde, 1990; Powell & Ansic, 1997; Sonfield, Lussier, Corman, & KcKinney, 2001) but no differences in decision making values or styles (Powell, 1990). Women are, in general, more likely to choose the certain outcome. Personality also plays a part in how decisions are made. Personality types have been linked to management and decision-making and are correlated with managerial responsibilities and occupations (Keirsey, 1998). One of the more common approaches to measure personality is the development of Myers-Briggs Type Indicators: Extravert or Introvert, Sensor or Intuitive, Thinker or Feeler, and Judger and Perceiver. Myers-Briggs Type Indicators, based on Jungian psychology type theory, is used as a framework to discuss personality types and their potential to influence decision making under risk and uncertainty. Myers and McCaulley (1989) explain each: * Extravert-Introvert index (E or I) reflects how an individual relates to the world of people and things * Sensor-Intuitive index (S or N) reflects how a person chooses to gather information or perceives the world * Thinker-Feeler index (T or F) reflects how a person prefers to make judgments or decisions * Judger-Perceiver index (J or P) reflects how a person prefers to deal with the world. These eight letters and the traits they represent can be combined into sixteen possible combinations to further explain why people are different from each other. …

Two measures of economic activity are unemployment rates and employment-to-population ratios. Both measures provide policy-makers with information regarding local labor markets. Typically the unemployment rate has been the measure of choice. We estimate a simultaneous equations model to determine the factors that impact both measures. We focus on two variables that are influenced by state policy officials, unemployment insurance and welfare generosity. It is determined that both factors affect state unemployment rates and employment-to-population ratios. From a state level perspective, it is important to view both labor market measures to evaluate the appropriateness of the proposed policy. A policy guideline is provided to accommodate government officials in this process.