[This paper investigates the explanatory power of various measures that indicate the value of a firm's oil and gas properties. The empirical method relies on cross-sectional valuation models applied over the 1979-83 period. The evidence demonstrates that the primary statements' net book value data are highly significant in explaining the market value of oil and gas properties. This measure dominates the supplementary valuation measures supplied in firms' footnotes, including the "standardized present value" measure. The evidence also clearly shows that the market distinguishes rationally between the successful efforts and the full cost accounting methods.]

Reviews the book 'Modern Auditing,' 3rd ed., by Walter G. Kell, William C. Boynton and Richard E. Ziegler.

Some of the most fundamental assumptions of economics are utility maximization and weak separability of the arguments in the represen tative consumer's utility function. This paper contains results from nonparametric tests of these assumptions about consumer behavior. The authors find that quarterly per capita data on consumption goods, le isure, and monetary assets are consistent with utility maximization. Further, consumption goods and leisure meet necessary and sufficient conditions for weak separability. Additionally, one grouping of relat ively liquid monetary assets meets the necessary conditions for weak separability. They also test and find no evidence of homothetic prefe rences.

Reviews the book 'Laboratory Market Research,' edited by Shane Moriarity.

Reviews the books "Foreign Exchange Risk Management under Statement 52, A Research Report," and "Determining the Functional Currency under Statement 52, A Research Report," by Thomas G. Evans and Timothy S. Doupnik.

New claimants for Unemployment Insurance were randomly assigned to one of two experiments that were designed to speed up the return to work. In the first experiment, a 500 bonus was offered to eligible claimants who obtained employment within 11 weeks. This experiment reduced the number of weeks of insured unemployment, averaged over all assigned claimants whether or not they participated, by more than one week. In the second experiment, the 500 bonus was offered to the subsequent employer of the eligible claimant. This experiment reduced the weeks of insured unemployment for only one important group--white women--by about one week.