The resource management problem for the Middle Platte ecosystem is the insufficient water available to meet both instream ecological demands and out-of-stream economic needs. This problem of multiple interest groups competing for a limited resource is compounded by sharp disagreement in the scientific community over endangered species' needs for instream flows. In this study, game theory was used to address one dimension of this resource management problem. A sequential auction with repeated bidding was used to determine how much instream flow water each of three states -Colorado, Nebraska, and Wyoming -will provide and at what price. The results suggest that the use of auction mechanisms can improve the prospects for reaching a multi-state agreement on who will supply instream flow water, if the auction is structured to discourage misrepresentation of costs and if political compensation is allowed.
PurposeThe purpose of this paper is to determine whether one can infer the identities of specific business and management coursework topics that owner/managers of wineries want to have addressed by a wine industry‐specific educational institution by assessing upstream and downstream vertical integration strategies of their respective wineries.Design/methodology/approachExploratory empirical research involves the gathering of relevant information by way of telephone interviews and using closed end questions. The theory of the resource‐based view (RBV) of the firm is the theoretical framework that was employed in developing relevant hypotheses.FindingsThe results demonstrate that one can predict the types of business and management courses that owner/managers of wineries want to have offered by assessing realized upstream and/or downstream vertical integration strategies of their respective wineries.Originality/valueThe research creates a bridge between research involving the RBV and the identification of needs of persons in various parts of the wine value chain. Such persons might either become involved in conceiving and/or rendering wine industry‐specific business and management instruction, or benefit by taking business coursework that has been established as relevant for them by this research.
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