The potential for consumer segmentation in the Finnish housing market

This article examines whether cluster analysis can be used to identify groups of Finnish residents with similar housing preferences. Because homebuilders in Finland have been providing relatively homogeneous products to an increasingly diverse population, current housing may not represent the occupiers' preferences so a segmentation approach relying on socioeconomic characteristics and expressed preferences may not be sufficient. We use data collected via questionnaire in a principal component analysis followed by a hierarchical cluster analysis to determine whether different combinations of housing attributes are important to groups of residents. We can identify four clusters of housing residents based on important characteristics when looking for a house. The clusters describe Finnish people in different phases of the life cycle and with different preferences based on their recreational activities and financial expenditures. Mass customization of housing could be used to better appeal to these different clusters of consumers who share similar preferences, increasing consumer satisfaction and improving profitability.

Risk Minimizing Option Pricing in a Semi-Markov Modulated Market

We address risk minimizing option pricing in a semi-Markov modulated market where the floating interest rate depends on a finite state semi-Markov process. The growth rate and the volatility of the stock also depend on the semi-Markov process. Using the Föllmer–Schweizer decomposition we find the locally risk minimizing price for European options and the corresponding hedging strategy. We develop suitable numerical methods for computing option prices.

How Good is the Assumption About Visible Surface Reflectance in MODIS Aerosol Retrieval Over Land? A Comparison With Aircraft Measurements Over an Urban Site in India

In this paper, we discuss the measurements of spectral surface reflectance (rho(s)(lambda)) in the wavelength range 350-2500 nm measured using a spectroradiometer onboard a low-flying aircraft over Bangalore (12.95 degrees N, 77.65 degrees E), an urban site in southern India. The large discrepancies in the retrieval of aerosol propertiesover land by the Moderate-Resolution Imaging Spectroradiometer (MODIS), which could be attributed to the inaccurate estimation of surface reflectance at many sites in India and elsewhere, provided motivation for this paper. The aim of this paper was to verify the surface reflectance relationships assumed by the MODIS aerosol algorithm for the estimation of surface reflectance in the visible channels (470 and 660 nm) from the surface reflectance at 2100 nm for aerosol retrieval over land. The variety of surfaces observed in this paper includes green and dry vegetations, bare land, and urban surfaces. The measuredreflectance data were first corrected for the radiative effects of atmosphere lying between the ground and aircraft using the Second Simulation of Satellite Signal in the Solar Spectrum (6S) radiative transfer code. The corrected surface reflectance in the MODIS's blue (rho(s)(470)), red (rho(s)(660)), and shortwave-infrared (SWIR) channel (rho(s)(2100)) was linearly correlated. We found that the slope of reflectance relationship between 660 and 2100 nm derived from the forward scattering data was 0.53 with an intercept of 0.07, whereas the slope for the relationship between the reflectance at 470 and 660 nm was 0.85. These values are much higher than the slope (similar to 0.49) for either wavelengths assumed by the MODIS aerosol algorithm over this region. The reflectance relationship for the backward scattering data has a slope of 0.39, with an intercept of 0.08 for 660 nm, and 0.65, with an intercept of 0.08 for 470 nm. The large values of the intercept (which is very small in the MODIS reflectance relationships) result in larger values of absolute surface reflectance in the visible channels. The discrepancy between the measured and assumed surface reflectances could lead to error in the aerosol retrieval. The reflectance ratio (rho(s)(660)/rho(s)(2100)) showed a clear dependence on the N D V I-SWIR where the ratio increased from 0.5 to 1 with an increase in N V I-SWIR from 0 to 0.5. The high correlation between the reflectance at SWIR wavelengths (2100, 1640, and 1240 nm) indicated an opportunity to derive the surface reflectance and, possibly, aerosol properties at these wavelengths. We need more experiments to characterize the surface reflectance and associated inhomogeneity of land surfaces, which play a critical role in the remote sensing of aerosols over land.

The adoption of sustainable grazing land management practices in the Burdekin Rangelands of northern Australia.

The Burdekin Rangelands is a diverse area of semi-arid eucalypt and acacia savannah covering six million hectares in north eastern Australia. The major land use is cattle grazing on 220 commercial cattle properties (average size 26,000 ha) each carrying on average 2600 adult equivalents. Production was the focus of the beef industry and support agencies prior to the mid 1980's. Widespread land degradation during the 1980's led to a grassroots realisation that environmental impacts, including water quality had to be addressed for the beef industry to attain sustainability. The formation of a series of producer based landcare gropus and the support of several Queensland and Australian government research and extension agencies led to a greater awareness and adoption of sound grazing land management practices (Shepherd 2005).

Marine Vegetation of Cape York Peninsula. Cape York Peninsula Land Use Strategy, Office of Co-ordinator General of Queensland, Brisbane, Department of the Environment, Sport and Territories, Canberra

The Cape York Peninsula Land Use Strategy (CYPLUS) is a joint Queensland/Commonwealth initiative to provide a framework for making decisions about how to use and manage the natural resources of Cape York Peninsula in ways that will be ecologically sustainable. As part of the Natural Resources Analysis Program (NRAP) of CYPLUS, the Fisheries Division of the Queensland Department of Primary Industries has mapped the marine vegetation (mangroves and seagrasses) for Cape York Peninsula. The project ran from July 1992 to June 1994. Field work was undertaken in November 1992, May 1993, and April 1994. Final report on project: NRO6 – Marine Plan (Seagrass/Mangrove) Distribution. Dataset URL Link: Queensland Coastal Wetlands Resources Mapping data. [Dataset]

Impacts of improved grazing land management on sediment yields, Part 1: Hillslope processes.

Summary Poor land condition resulting from unsustainable grazing practices can reduce enterprise profitability and increase water, sediment and associated nutrient runoff from properties and catchments. This paper presents the results of a 6 year field study that used a series of hillslope flume experiments to evaluate the impact of improved grazing land management (GLM) on hillslope runoff and sediment yields. The study was carried out on a commercial grazing property in a catchment draining to the Burdekin River in northern Australia. During this study average ground cover on hillslopes increased from ~35% to ~75%, although average biomass and litter levels are still relatively low for this landscape type (~60 increasing to 1100 kg of dry matter per hectare). Pasture recovery was greatest on the upper and middle parts of hillslopes. Areas that did not respond to the improved grazing management had <10% cover and were on the lower slopes associated with the location of sodic soil and the initiation of gullies. Comparison of ground cover changes and soil conditions with adjacent properties suggest that grazing management, and not just improved rainfall conditions, were responsible for the improvements in ground cover in this study. The ground cover improvements resulted in progressively lower runoff coefficients for the first event in each wet season, however, runoff coefficients were not reduced at the annual time scale. The hillslope annual sediment yields declined by ~70% on two out of three hillslopes, although where bare patches (with <10% cover) were connected to gullies and streams, annual sediment yields increased in response to higher rainfall in latter years of the study. It appears that bare patches are the primary source areas for both runoff and erosion on these hillslopes. Achieving further reductions in runoff and erosion in these landscapes may require management practices that improve ground cover and biomass in bare areas, particularly when they are located adjacent to concentrated drainage lines.

Portfolio Optimization in a Semi-Markov Modulated Market

We address a portfolio optimization problem in a semi-Markov modulated market. We study both the terminal expected utility optimization on finite time horizon and the risk-sensitive portfolio optimization on finite and infinite time horizon. We obtain optimal portfolios in relevant cases. A numerical procedure is also developed to compute the optimal expected terminal utility for finite horizon problem.

AV11006 Competitive threat to fresh avocado market from processed products

Response to industry call. Compare range of current and possible processed products versus whole fresh avocado for both retail and food service markets. Explore and evaluate opportunities for value added products.

Management of 'Tough' fish syndrome (TFS) in tropical Saddletail Snapper to re-instill market confidence

Successful identification of these factors influence upon TFS will empower stakeholders to make informed decisions as to how to best utilise the resource, boost consumer confidence thus ensuring the improved profitability of the fishery into the future.

Alternative fruit fly management for market access for apples

Difficulty with control of Queensland fruit fly with four cultivars of apples on the Granite Belt, Qld. Warnings that the insecticides dimethoate & fenthion might be removed from the market for apples, had been current for several years. Dimethoate was widely used as a post harvest control measure as well as an in-field treatment. Fenthion also had and still has in-field usage. The project attempted to find a replacement for these control measures.

Improving avocado fruit quality and market potential by pre and post harvest factors

Improving avocado fruit quality and market potential by pre and post harvest factors.