Literature shows evidence that there is a marked heterogeneity in price responses to tourism products, leading to a great variety of tourist sensitivities to price. It means that the role price plays is complex and, particularly challenging is that its effect is not unambiguous, thereby dismissing the idea that demand for tourism products and tourist activities is always that of ordinary...
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This article builds on the double role of the effect of prices on the choice of tourism activities: not only is it the only component of a destination marketing strategy that represents income but also a determinant factor in tourist choice. On this account, identifying patterns of tourists with different degrees of sensitivities to prices would help them design an appropriate bundle of...
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In: Transport policy, 2011, vol. 18, no. 1, p. 23-31
Three different and feasible pricing strategies for public bus transport in India are developed in a partial equilibrium framework with the objective of improving economic efficiency and ensuring revenue adequacy, namely average cost pricing, marginal cost pricing, and two-part tariffs. These are assessed not only in terms of gains in economic efficiency, but also in changes in travel demand...
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In: Ecology and strategy (Advances in strategic management), 2006, vol. 23, p. 103-135
The “upper echelon” literature has mainly produced static empirical studies on the impact of top management team composition on organizational outcomes, ignoring the dynamics of industrial demography. Organizational ecology explicitly studied the dynamics of organizational diversity at the population level, however largely ignoring how the entry and exit of executives shapes organizational...
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In: Computational statistics & data analysis, 2006, vol. 51, no. 4, p. 2267-2277
A multivariate methodology based on Functional Gradient Descent to estimate and forecast time-varying expected bond returns is presented and discussed. Backtesting this procedure on US monthly data, empirical evidence of its strong forecasting potential in terms of the accuracy of the predictions is collected. The proposed methodology clearly outperforms the classical univariate analysis used...
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In: Journal of forecasting, 2006, vol. 25, no. 8, p. 579–600
We propose a simple class of multivariate GARCH models, allowing for time-varying conditional correlations. Estimates for time-varying conditional correlations are constructed by means of a convex combination of averaged correlations (across all series) and dynamic realized (historical) correlations. Our model is very parsimonious. Estimation is computationally feasible in very large dimensions...
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In: The journal of derivatives, 2008, vol. 16, no. 2, p. 36-53
In the existing literature on barrier options much effort has been exerted to ensure convergence through placing the barrier in close proximity to, or directly onto, the nodes of the tree lattice. For a variety of barrier option types we show that such a procedure may not be a necessary prerequisite to achieving accurate option price approximations. Using the Kamrad and Ritchken (1991)...
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In: International journal of approximate reasoning, 2009, vol. 50, no. 4, p. 597-611
In this paper, we consider the coherent theory of (epistemic) uncertainty of Walley, in which beliefs are represented through sets of probability distributions, and we focus on the problem of modeling prior ignorance about a categorical random variable. In this setting, it is a known result that a state of prior ignorance is not compatible with learning. To overcome this problem, another...
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In: Journal of business & economic statistics, 2011, vol. 29, no. 1, p. 138-149
We introduce a new multivariate GARCH model with multivariate thresholds in conditional correlations and develop a two-step estimation procedure that is feasible in large dimensional applications. Optimal threshold functions are estimated endogenously from the data, and the model conditional covariance matrix is ensured to be positive definite. We study the empirical performance of our model in...
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Thèse de doctorat : Università della Svizzera italiana, 2010 ; 2010INFO007.
Software systems are subject to continuous changes to adapt to new and changing requirements.This phenomenon, known as software evolution, leads in the long term to software aging: The size and the complexity of systems increase, while their quality decreases. In this context, it is no wonder that software maintenance claims the most part of a software system's cost.The analysis of software...
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