Testing convergence of Fiji's tourism markets

The convergence hypothesis for tourism markets is based on the tenet that when tourism markets are converging the difference between total international visitor arrivals to a country and international visitor arrivals from a particular country will be stationary. We argue that if this is true, then convergence can also be tested through examining whether total visitor arrivals and visitor arrivals from a particular market are cointegrated. We test the convergence hypothesis by examining visitor arrivals to Fiji from eight tourist source markets, using both unit root and cointegration tests. We find strong statistical evidence that Fiji's tourism markets converge.

Smart cluster bombs - control of multi-agent systems for military applications

This paper introduces an aggregation algorithm for airborne swarming guided weapon systems, which can aggregate munitions into a given shape while reaching the surface. The algorithm uses an artificial force based controller to navigate the members of the swarm into the desired geographical position and evenly distribute them inside the shape. Inter-member repulsion forces are used to avoid collisions among members, which is crucial for a weapon deployment system. Moreover, a lower bound for the release height was obtained which guarantee convergence of the complete weapon system into the target area. The proposed swarming guided weapon system was tested using computer simulations.

RFID-based real-time smart waste management system

In an environmental context, the use of RFID (radio frequency identification) and load cell sensor technology can be employed for not only bringing down waste management costs, but also to facilitate automating and streamlining waste (e.g., garbage, recycling, and green) identification and weight measurement processes for designing smart waste management systems. In this paper, we outline a RFID and sensor model for designing a system in real-time waste management. An application of the architecture is described in the area of RFID and sensor based automatic waste identity, weight, and stolen bins identification system (WIWSBIS).

Expectations and liquidity in Yen bond markets

The relationship between daily yields on Japanese government bonds (JGBs), and high grade (AA and AAA) yen eurobonds is investigated. We find the cointegration vector differs slightly from the expected order predicted by the expectations hypothesis and attribute this to differing degrees of liquidity in the eurobond and JGB markets. We conclude that the concentration of new Japanese government issues in maturities of five to ten years, combined with the practice by the authorities of holding a significant amount of outstanding bonds, has distorted the transmission process between different risk classes of bonds. An example of the dynamics of the credit spread on the ten-year AA eurobond is provided.

A proposed smart-card solution for Australian health services : the problems encountered

This case study describes the experience of a state government health department in evaluating the use of smart card technology to redesign health benefits programs for the disabled in Australia. The social and political context of the system is explained in detail, and the potential benefits and risks accruing to the government, health care intermediaries and the community are examined.

Modelling linkages between Australian financial futures markets

This paper investigates the dynamic interdependence of the Australian financial futures markets. A multivariate EGARCH model is developed to investigate linkages and stochastic volatility interactions between the 10-year Treasury bond, 90-day bank-accepted bill, and the All Ordinaries share price index futures markets. In this analysis, the empirical results strongly suggest that significant volatility interactions are evident across the 3 markets.

Dynamic interdependence and volatility transmission of Asian stock markets: evidence from the Asian crisis

This paper examines dynamic interdependence, volatility transmission, and market integration across selected stock markets during the Asian financial crisis periods 1997 and 1998. Using a vector autoregressive–exponential generalized autoregressive conditional heteroskedasticity (VAR-EGARCH) model, it is found that reciprocal volatility transmission existed between Hong Kong and Korea, and unidirectional volatility transmission from Korea to Thailand. This suggests that Hong Kong played a significant role in volatility transmission to the other Asian markets. The data also indicate market integration in that each market reacted to both local news and news originating in the other markets, particularly adverse news.

The reality of quality systems software : working for the machine, or smart people around the machine?

This case study-based research examines the outcomes of using quality system software (QSS) in terms of the support it provides to, and the constraints it imposes on, its users. The results indicate that QSS can help facilitate knowledge access and sharing, and to a lesser extent, facilitate communication. It can be an effective mechanism for initiating and managing changes to work processes. Although some writers have opined that information technology (IT) is another way of controlling workers, this was not evidenced in this study. Technical shortcomings did hamper performance of some tasks, and for some managers, extra work was involved.

Consumer loyalty versus propensity to switch between providers in mature IT markets (the case of mobile phone market)

The example of the youth mobile phone market is used for pilot empirical testing of a model of consumers’ decision making, based on common features of consumer behaviour in mature markets of information and high technology products. Firstly, we discuss the key properties of mature high technology markets which affect market behaviour and strategies. These properties include: established customer and provider bases; the elements of both oligopolistic and monopolistic competition; very short product life cycle; considerable product differentiation; and using product quality, versioning and price discrimination as planning and marketing tools. Secondly, a model of consumers’ decision making in such markets is suggested on the assumption that a choice is to be made between the following options: to continue using the existing version of the product, to upgrade it with the current provider or to switch to another provider. Product price, quality characteristics, switching costs and network effects are demonstrated to be the variables affecting consumers’ decisions and therefore, these variables should be considered by competing providers when they choose production and marketing strategies. In conclusion, the results of the empirical study are discussed in the context of their possible application to other information and high technology markets.

'Don't be a smart arse': Young workers, individualization, and an ethic of enterprise in Jamie's Kitchen

In Jamie’s Kitchen the high profile celebrity chef Jamie Oliver set out to transform a group of unemployed young Londoners into the enterprising, ideal worker of 21st century flexible capitalism. The paper will argue that this reality TV series provides a means to explore key features of new work regimes. We will analyse particular aspects of the increasingly powerful individualising and normalising processes shaping the lifeworlds of young workers in a globalising risk society. Processes that require those who wish to be positively identified as entrepreneurial to do particular sorts of work on themselves; or suffer the consequences.
Drawing on Foucault’s later work on the care of the self, and the  individualization theses of the reflexive modernization literature, we identify and analyse the forms of personhood that various institutions, organisations and individuals seek to encourage in young workers; and the ways in which institutionalised risk environments increasingly individualise the risks and uncertainties associated with labour market participation. The paper argues that our understandings of what it means to be a worker of the world, are being rearticulated around the idea that we are free to choose. And we must exercise this freedom – reap its rewards, carry its obligations – as individuals.

Financial institutions, instruments and markets

Latest information, developments and statistics, with website addresses provided to allow students to access up to the minute, real-world data. Real-world examples throughout the text help students relate theory to pracical situations.