Analysis on the connotation of probability in the artificial intelligence algorithm for economic decision making.

This paper analyzes the inner relations between classical sub-scheme probability and statistic probability, subjective probability and objective probability, prior probability and posterior probability, transition probability and probability of utility, and further analysis the goal, method, and its practical economic purpose which represent by these various probability from the perspective of mathematics, so as to deeply understand there connotation and its relation with economic decision making, thus will pave the route for scientific predication and decision making.

Financing local development through crowdfunding: An empirical analysis of social projects in Portugal

Crowdfunding (CF) is an increasingly attractive source to fund social projects. However, to our best knowledge, the study of CF for social purposes has remained largely unexplored in the literature. This research envisages a detailed examination of the role of CF on the early-stage of the social projects at regional level. By comparing the characteristics of the projects available in the Portuguese Social Stock Exchange (PSSE) platform with others that did not use this source of financial support, we explore its role on regional development. The results we got show that, in most cases, both PSSE and Non-Governmental Organizations projects complemented the services offered by the State or by the private sector. Furthermore, about a quarter of the projects present in PSSE operated in areas that were not being addressed neither by the services offered by the State nor by the ones of the private sector. The results attained show that more recent social ventures have a greater propensity to use PSSE. The same is find in those organizations which work closely with the target audience. We also observed that the use of PSSE was correlated with the geographical scope of the Social Venture. The circumstance of having the social organization acting at a local or regional level seems to be strongly associated with the possibility of using social crowdfunding for financing social projects.

Understanding import diversification: an empirical analysis

This paper analyzes import diversification in an aggregated perspective -- Using a dataset for 60 countries covering the period 1995-2010, we study the main determinants of import diversification -- We expect to contribute to the current literature, taking into account that there have been few empirical studies addressing import diversification and more specifically, at the cross-country level -- We take into account variables classified into four categories: Structural factors, macroeconomic factors, international trade factors and political factors -- We find robust evidence that total factor productivity (TFP), capital stock, real Exchange rates and terms of trade are key drivers of import diversification -- On the other hand, domestic consumption and trade openness exert an effect leading to import concentration -- We interpret this finding, taking into account the theoretical framework provided by the international trade and growth theories

PCA 4 DCA: the application of principal component analysis to the Dendritic Cell Algorithm

As one of the newest members in the field of articial immune systems (AIS), the Dendritic Cell Algorithm (DCA) is based on behavioural models of natural dendritic cells (DCs). Unlike other AIS, the DCA does not rely on training data, instead domain or expert knowledge is required to predetermine the mapping between input signals from a particular instance to the three categories used by the DCA. This data preprocessing phase has received the criticism of having manually over-fitted the data to the algorithm, which is undesirable. Therefore, in this paper we have attempted to ascertain if it is possible to use principal component analysis (PCA) techniques to automatically categorise input data while still generating useful and accurate classication results. The integrated system is tested with a biometrics dataset for the stress recognition of automobile drivers. The experimental results have shown the application of PCA to the DCA for the purpose of automated data preprocessing is successful.

Interest rate (in)sensitivity of emerging market corporate debt : economic analysis based on 2002-2015 empirical evidence

Interest rate sensitivity assessment framework based on fixed income yield indexes is developed and applied to two types of emerging market corporate debt: investment grade and high yield exposures. Our research advances beyond the correlation analyses focused on co- movements in yields and/or spreads of risky and risk-free assets. We show that correlation- based analyses of interest rate sensitivity could appear rather inconclusive and, hence, we investigate the bottom line profit and loss of a hypothetical model portfolio of corporates. We consider historical data covering the period 2002 – 2015, which enable us to assess interest rate sensitivity of assets during the development, the apogee, and the aftermath of the global financial crisis. Based on empirical evidence, both for investment and speculative grades securities, we find that the emerging market corporates exhibit two different regimes of sensitivity to interest rate changes. We observe switching from a positive sensitivity under the normal market conditions to a negative one during distressed phases of business cycles. This research sheds light on how financial institutions may approach interest rate risk management, evidencing that even plain vanilla portfolios of emerging market corporates, which on average could appear rather insensitive to the interest rate risk in fact present a binary behavior of their interest rate sensitivities. Our findings allow banks and financial institutions for optimizing economic capital under Basel III regulatory capital rules.

Business Process Management and Process Mining within a Real Business Environment: An Empirical Analysis of Event Logs Data in a Consulting Project

Il presente elaborato esplora l’attitudine delle organizzazioni nei confronti dei processi di business che le sostengono: dalla semi-assenza di struttura, all’organizzazione funzionale, fino all’avvento del Business Process Reengineering e del Business Process Management, nato come superamento dei limiti e delle problematiche del modello precedente. All’interno del ciclo di vita del BPM, trova spazio la metodologia del process mining, che permette un livello di analisi dei processi a partire dagli event data log, ossia dai dati di registrazione degli eventi, che fanno riferimento a tutte quelle attività supportate da un sistema informativo aziendale. Il process mining può essere visto come naturale ponte che collega le discipline del management basate sui processi (ma non data-driven) e i nuovi sviluppi della business intelligence, capaci di gestire e manipolare l’enorme mole di dati a disposizione delle aziende (ma che non sono process-driven). Nella tesi, i requisiti e le tecnologie che abilitano l’utilizzo della disciplina sono descritti, cosi come le tre tecniche che questa abilita: process discovery, conformance checking e process enhancement. Il process mining è stato utilizzato come strumento principale in un progetto di consulenza da HSPI S.p.A. per conto di un importante cliente italiano, fornitore di piattaforme e di soluzioni IT. Il progetto a cui ho preso parte, descritto all’interno dell’elaborato, ha come scopo quello di sostenere l’organizzazione nel suo piano di improvement delle prestazioni interne e ha permesso di verificare l’applicabilità e i limiti delle tecniche di process mining. Infine, nell’appendice finale, è presente un paper da me realizzato, che raccoglie tutte le applicazioni della disciplina in un contesto di business reale, traendo dati e informazioni da working papers, casi aziendali e da canali diretti. Per la sua validità e completezza, questo documento è stata pubblicato nel sito dell'IEEE Task Force on Process Mining.

Managing knowledge flows in Mauritian multinational corporations: empirical analysis using the SECI model

This research was conducted to investigate the management of knowledge flows in a Mauritian multinational organisation. A case study research method was used to gather data which was analysed using the SECI model. Results show that all the four quadrants of this model were applied by the conglomerate in transferring knowledge to its newly acquired manufacturing operations in Madagascar. This paper discusses some of the knowledge management strategies employed.

Crossing frontiers between tourism and demography. An empirical analysis based on European travellers’ behaviour

This paper aims to establish possible tourism demand scenarios of European travellers to Portugal based on the relationship with changing population structures. A combination of the EuROBAROMETER report 370 (“Attitudes of Europeans towards Tourism in 2013”) and the cohort-component method for population projections will allow the development of different possible tourism demand scenarios. Following the European report, individuals who travelled in 2013 were most likely to live in a household with two or more individuals. Thus, if elderly couples are together till later in their life and in better physiological shape, it is possible that the number of elderly individuals travelling for tourism purposes will increase in the near future. If we can expect tourists from developing countries to be younger due to their demographic dynamics than those from developed countries, where the ageing population is growing fast, we can expect that the percentage of the elderly among tourists will increase. Furthermore, the 2013 European report found that the combination of socio-demographic variables, such as, age, population, gender, household dimension, country of residence and trip purpose explained tourism demand scenarios for Portugal, confirming that seniors and families evidence a paramount sense of importance for the destination. In the literature there is a lack of discussion about the effects of demography in the future and the role of an ageing population in tourism demand choice patterns. We aim to contribute to filling this gap. Consequently, we strongly believe that this paper contributes to the literature by introducing a new field of discussion about the importance of demographic changes in shaping travel trends.

“A long-term mortality analysis of subsidized firms in rural areas: an empirical study in the Portuguese Alentejo region”

Studies have demonstrated that public policies to support private firms’ investment have the ability to promote entrepreneurship, but the sustainability of subsidized firms has not often been analysed. This paper aims to examine this dimension specifically through evaluating the mortality of subsidized firms in the long-term. The analysis focuses on a case study of the LEADER+ Programme in the Alentejo region of Portugal. With this purpose, the paper examines the activity status (active or not active) of 154 private, rural, for-profit firms in Alentejo that had received a subsidy to support investment between 2002 and 2008 under the LEADER+ Programme. The methodology is based on binary choice models in order to study the probability of these firms still being active. The explanatory variables used are the following: (1) the characteristics of entrepreneurs and managers’ strategic decisions, (2) firm profile and characteristics, (3) regional economic environment. Data assessment showed that the cumulative mortality rate of firms on 31st December 2013 is over 20 %. Interpretation of the regression model revealed that he probability of firms’ survival increases with higher investment, firm age and regional business concentration, whereas the number of applications made by firms has a negative impact on their survival. So it seems that for subsidized firms the amount of investment is as important as its frequency.

Expenditure pattern analysis of cultural tourists at World Heritage Sites: an empirical evidence based on CHAID analysis

Nowadays, World Heritage Sites (WHS) have been facing new challenges, partially due to a different tourism consumption patterns. As it is highlighted in a considerable amount of studies, visits to these sites are almost justified by this prestigious classification and motivations are closely associated with their cultural aspects and quality of the overall environment (among others, Marujo et al, 2012). However, a diversity of tourists’ profiles have been underlined in the literature. Starting from the results obtained in a previous study about cultural tourists’ profile, conducted during the year 2009 in the city of Évora, Portugal, it is our intend to compare the results with a recent survey applied to the visitors of the same city. Recognition of Évora by UNESCO in 1986 as “World Heritage” has fostered not only the preservation of heritage but also the tourist promotion of the town. This study compares and examined tourists’ profile, regarding from the tourists’ expenditure patterns in Évora. A total of 450 surveys were distributed in 2009, and recently, in 2015, the same numbers of surveys were collected. Chi-squared Automatic Interaction Detection (CHAID) was applied to model consumer patterns of domestic and international visitors, based on socio demographic, trip characteristics, length of stay and the degree of satisfaction of pull factors. CHAID allowed find a population classification in groups that able to describe the dependent variable, average daily tourist expenditure. Results revealed different patterns of daily average expenditure amongst the years, 2009 and 2015, even if primarily results not revealed significant variations in socio-demographic and trip characteristics among the visitors’ core profile. Local authorities should be aware of this changing expensive behavior of cultural visitors and should formulate strategies accordingly. Policy and managerial recommendations are discussed.

Expenditure pattern analysis of cultural tourists at World Heritage Sites: empirical evidence based on CHAID analysis

This study investigates tourists’ expenditure patterns in the city of Évora, a world heritage site (WHS) classified by UNESCO. The use of chi-squared automatic interaction detection (CHAID) was chosen, allowing the identification of distinct segments based on expenditure patterns. Visitors’ expenditure patterns have proven to be a pertinent element for a broader understanding of visitors’ behaviour at cultural destinations. Visitors’ expenditure patterns were revealed to be increasing within years studied.

Crossing frontiers between tourism and demography. An empirical analysis based on European travellers’ behaviour

This paper aims to establish possible tourism demand scenarios of European travellers to Portugal based on the relationship with changing population structures. A combination of the EUROBAROMETER report 370 (“Attitudes of Europeans towards Tourism in 2013”) and the cohort-component method for population projections will allow the development of different possible tourism demand scenarios. Following the European report, individuals who travelled in 2013 were most likely to live in a household with two or more individuals. Thus, if elderly couples are together till later in their life and in better physiological shape, it is possible that the number of elderly individuals travelling for tourism purposes will increase in the near future. If we can expect tourists from developing countries to be younger due to their demographic dynamics than those from developed countries, where the ageing population is growing fast, we can expect that the percentage of the elderly among tourists will increase. Furthermore, the 2013 European report found that the combination of socio-demographic variables, such as, age, population, gender, household dimension, country of residence and trip purpose explained tourism demand scenarios for Portugal, confirming that seniors and families evidence a paramount sense of importance for the destination. In the literature there is a lack of discussion about the effects of demography in the future and the role of an ageing population in tourism demand choice patterns. We aim to contribute to filling this gap. Consequently, we strongly believe that this paper contributes to the literature by introducing a new field of discussion about the importance of demographic changes in shaping travel trends.

Ecosystem Engineering Effects On Species Diversity Across Ecosystems: A Meta-analysis.

Ecosystem engineering is increasingly recognized as a relevant ecological driver of diversity and community composition. Although engineering impacts on the biota can vary from negative to positive, and from trivial to enormous, patterns and causes of variation in the magnitude of engineering effects across ecosystems and engineer types remain largely unknown. To elucidate the above patterns, we conducted a meta-analysis of 122 studies which explored effects of animal ecosystem engineers on species richness of other organisms in the community. The analysis revealed that the overall effect of ecosystem engineers on diversity is positive and corresponds to a 25% increase in species richness, indicating that ecosystem engineering is a facilitative process globally. Engineering effects were stronger in the tropics than at higher latitudes, likely because new or modified habitats provided by engineers in the tropics may help minimize competition and predation pressures on resident species. Within aquatic environments, engineering impacts were stronger in marine ecosystems (rocky shores) than in streams. In terrestrial ecosystems, engineers displayed stronger positive effects in arid environments (e.g. deserts). Ecosystem engineers that create new habitats or microhabitats had stronger effects than those that modify habitats or cause bioturbation. Invertebrate engineers and those with lower engineering persistence (<1 year) affected species richness more than vertebrate engineers which persisted for >1 year. Invertebrate species richness was particularly responsive to engineering impacts. This study is the first attempt to build an integrative framework of engineering effects on species diversity; it highlights the importance of considering latitude, habitat, engineering functional group, taxon and persistence of their effects in future theoretical and empirical studies.

Geographical Distribution Of The Association Between El Niño South Oscillation And Dengue Fever In The Americas: A Continental Analysis Using Geographical Information System-based Techniques.

El Niño South Oscillation (ENSO) is one climatic phenomenon related to the inter-annual variability of global meteorological patterns influencing sea surface temperature and rainfall variability. It influences human health indirectly through extreme temperature and moisture conditions that may accelerate the spread of some vector-borne viral diseases, like dengue fever (DF). This work examines the spatial distribution of association between ENSO and DF in the countries of the Americas during 1995-2004, which includes the 1997-1998 El Niño, one of the most important climatic events of 20(th) century. Data regarding the South Oscillation index (SOI), indicating El Niño-La Niña activity, were obtained from Australian Bureau of Meteorology. The annual DF incidence (AIy) by country was computed using Pan-American Health Association data. SOI and AIy values were standardised as deviations from the mean and plotted in bars-line graphics. The regression coefficient values between SOI and AIy (rSOI,AI) were calculated and spatially interpolated by an inverse distance weighted algorithm. The results indicate that among the five years registering high number of cases (1998, 2002, 2001, 2003 and 1997), four had El Niño activity. In the southern hemisphere, the annual spatial weighted mean centre of epidemics moved southward, from 6° 31' S in 1995 to 21° 12' S in 1999 and the rSOI,AI values were negative in Cuba, Belize, Guyana and Costa Rica, indicating a synchrony between higher DF incidence rates and a higher El Niño activity. The rSOI,AI map allows visualisation of a graded surface with higher values of ENSO-DF associations for Mexico, Central America, northern Caribbean islands and the extreme north-northwest of South America.

Post Hoc Analysis Of The Patricia Randomized Trial Of The Efficacy Of Human Papillomavirus Type 16 (hpv-16)/hpv-18 As04-adjuvanted Vaccine Against Incident And Persistent Infection With Nonvaccine Oncogenic Hpv Types Using An Alternative Multiplex Type-specific Pcr Assay For Hpv Dna.

The efficacy of the human papillomavirus type 16 (HPV-16)/HPV-18 AS04-adjuvanted vaccine against cervical infections with HPV in the Papilloma Trial against Cancer in Young Adults (PATRICIA) was evaluated using a combination of the broad-spectrum L1-based SPF10 PCR-DNA enzyme immunoassay (DEIA)/line probe assay (LiPA25) system with type-specific PCRs for HPV-16 and -18. Broad-spectrum PCR assays may underestimate the presence of HPV genotypes present at relatively low concentrations in multiple infections, due to competition between genotypes. Therefore, samples were retrospectively reanalyzed using a testing algorithm incorporating the SPF10 PCR-DEIA/LiPA25 plus a novel E6-based multiplex type-specific PCR and reverse hybridization assay (MPTS12 RHA), which permits detection of a panel of nine oncogenic HPV genotypes (types 16, 18, 31, 33, 35, 45, 52, 58, and 59). For the vaccine against HPV types 16 and 18, there was no major impact on estimates of vaccine efficacy (VE) for incident or 6-month or 12-month persistent infections when the MPTS12 RHA was included in the testing algorithm versus estimates with the protocol-specified algorithm. However, the alternative testing algorithm showed greater sensitivity than the protocol-specified algorithm for detection of some nonvaccine oncogenic HPV types. More cases were gained in the control group than in the vaccine group, leading to higher point estimates of VE for 6-month and 12-month persistent infections for the nonvaccine oncogenic types included in the MPTS12 RHA assay (types 31, 33, 35, 45, 52, 58, and 59). This post hoc analysis indicates that the per-protocol testing algorithm used in PATRICIA underestimated the VE against some nonvaccine oncogenic HPV types and that the choice of the HPV DNA testing methodology is important for the evaluation of VE in clinical trials. (This study has been registered at ClinicalTrials.gov under registration no. NCT00122681.).