The applied computer science of economic analyses: Internet prioritization and Internet pricing, and software engineering and software pricing for the mass market

This research examines evolving issues in applied computer science and applies economic and business analyses as well. There are two main areas. The first is internetwork communications as embodied by the Internet. The goal of the research is to devise an efficient pricing, prioritization, and incentivization plan that could be realistically implemented on the existing infrastructure. Criteria include practical and economic efficiency, and proper incentives for both users and providers. Background information on the evolution and functional operation of the Internet is given, and relevant literature is surveyed and analyzed. Economic analysis is performed on the incentive implications of the current pricing structure and organization. The problems are identified, and minimally disruptive solutions are proposed for all levels of implementation to the lowest level protocol. Practical issues are considered and performance analyses are done. The second area of research is mass market software engineering, and how this differs from classical software engineering. Software life-cycle revenues are analyzed and software pricing and timing implications are derived. A profit maximizing methodology is developed to select or defer the development of software features for inclusion in a given release. An iterative model of the stages of the software development process is developed, taking into account new communications capabilities as well as profitability. ^

Recruitment, Selection and Retention of Managers In the Hotel and Restaurant Industry

The recruitment, selection, and retention of competent, reliable, and motivated managers has been the cornerstone of any successful organization. This is generally a complex assignment due to the subjectivity involved in determining what traits are needed to make a good manager. In order to determine the status of the hospitality industry with regard to managerial concerns, leaders in the hotel and restaurant industry were surveyed on these issues.

Recruitment and Retention Insights for the Hotel Industry

Recruiting talented managerial employees for the hotel industry is a constant challenge. Identifying and training supervisors and junior level managers for senior positions seems to be one solution. The authors explore the career influences confronting these individuals and make recommendations for recruitment and retention.

Role Stress, Emotional Exhaustion, and Job Satisfaction in the Hotel Industry: The Moderating Role of Supervisory Support

The purpose of this study is to investigate supervisory support as a moderator of the effects of role conflict and role ambiguity on emotional exhaustion and job satisfaction. This study also examines the moderating role of supervisory support on the relationship between emotional exhaustion and job satisfaction. Data were collected from a sample of frontline hotel employees in Northern Cyprus. The aforementioned relationships were tested based on hierarchical multiple regression analysis. The results demonstrate that supervisory support mitigates the impact of role conflict on emotional exhaustion and further reveal that supervisory support reduces the effect of emotional exhaustion on job satisfaction. There is no empirical support for the rest of the hypothesized relationships. Implications of the empirical results are discussed, and future research directions are offered.

Microcomputers and the Hotel Executive

Microcomputers are emerging as a potent source for decision- making for hotel management. This article provides the hotel executive with a short course on the possibilities of microcomputers in his or her everyday work.

Evidence of the heterogeneous market hypothesis using wavelet multi -resolution analysis

In finance literature many economic theories and models have been proposed to explain and estimate the relationship between risk and return. Assuming risk averseness and rational behavior on part of the investor, the models are developed which are supposed to help in forming efficient portfolios that either maximize (minimize) the expected rate of return (risk) for a given level of risk (rates of return). One of the most used models to form these efficient portfolios is the Sharpe's Capital Asset Pricing Model (CAPM). In the development of this model it is assumed that the investors have homogeneous expectations about the future probability distribution of the rates of return. That is, every investor assumes the same values of the parameters of the probability distribution. Likewise financial volatility homogeneity is commonly assumed, where volatility is taken as investment risk which is usually measured by the variance of the rates of return. Typically the square root of the variance is used to define financial volatility, furthermore it is also often assumed that the data generating process is made of independent and identically distributed random variables. This again implies that financial volatility is measured from homogeneous time series with stationary parameters. In this dissertation, we investigate the assumptions of homogeneity of market agents and provide evidence for the case of heterogeneity in market participants' information, objectives, and expectations about the parameters of the probability distribution of prices as given by the differences in the empirical distributions corresponding to different time scales, which in this study are associated with different classes of investors, as well as demonstrate that statistical properties of the underlying data generating processes including the volatility in the rates of return are quite heterogeneous. In other words, we provide empirical evidence against the traditional views about homogeneity using non-parametric wavelet analysis on trading data, The results show heterogeneity of financial volatility at different time scales, and time-scale is one of the most important aspects in which trading behavior differs. In fact we conclude that heterogeneity as posited by the Heterogeneous Markets Hypothesis is the norm and not the exception.

Strategic positioning of Taiwan in the outsourcing market: Evidence from information technology services and electronic manufacturing outsourcing to China

In outsourcing relationships with China, the Electronic Manufacturing (EM) and Information Technology Services (ITS) industry in Taiwan may possess such advantages as the continuing growth of its production value, complete manufacturing supply chain, low production cost and a large-scale Chinese market, and language and culture similarity compared to outsourcing to other countries. Nevertheless, the Council for Economic Planning and Development of Executive Yuan (CEPD) found that Taiwan's IT services outsourcing to China is subject to certain constraints and might not be as successful as the EM outsourcing (Aggarwal, 2003; CEPD, 2004a; CIER, 2003; Einhorn and Kriplani, 2003; Kumar and Zhu, 2006; Li and Gao, 2003; MIC, 2006). Some studies examined this issue, but failed to (1) provide statistical evidence about lower prevalence rates of IT services outsourcing, and (2) clearly explain the lower prevalence rates of IT services outsourcing by identifying similarities and differences between both types of outsourcing contexts. This research seeks to fill that gap and possibly provide potential strategic guidelines to ITS firms in Taiwan. This study adopts Transaction Cost Economics (TCE) as the theoretical basis. The basic premise is that different types of outsourcing activities may incur differing transaction costs and realize varying degrees of outsourcing success due to differential attributes of the transactions in the outsourcing process. Using primary data gathered from questionnaire surveys of ninety two firms, the results from exploratory analysis and binary logistic regression indicated that (1) when outsourcing to China, Taiwanese firms' ITS outsourcing tends to have higher level of asset specificity, uncertainty and technical skills relative to EM outsourcing, and these features indirectly reduce firms' outsourcing prevalence rates via their direct positive impacts on transaction costs; (2) Taiwanese firms' ITS outsourcing tends to have lower level of transaction structurability relative to EM outsourcing, and this feature indirectly increases firms' outsourcing prevalence rates via its direct negative impacts on transaction costs; (3) frequency does influence firms' transaction costs in ITS outsourcing positively, but does not bring impacts into their outsourcing prevalence rates, (4) relatedness does influence firms' transaction costs positively and prevalence rates negatively in ITS outsourcing, but its impacts on the prevalence rates are not caused by the mediation effects of transaction costs, and (5) firm size of outsourcing provider does not affect firms' transaction costs, but does affect their outsourcing prevalence rates in ITS outsourcing directly and positively. Using primary data gathered from face-to-face interviews of executives from seven firms, the results from inductive analysis indicated that (1) IT services outsourcing has lower prevalence rates than EM outsourcing, and (2) this result is mainly attributed to Taiwan's core competence in manufacturing and management and higher overall transaction costs of IT services outsourcing. Specifically, there is not much difference between both types of outsourcing context in the transaction characteristics of reputation and most aspects of overall comparison. Although there are some differences in the feature of firm size of the outsourcing provider, the difference doesn't cause apparent impacts on firms' overall transaction costs. The medium or above medium difference in the transaction characteristics of asset specificity, uncertainty, frequency, technical skills, transaction structurability, and relatedness has caused higher overall transaction costs for IT services outsourcing. This higher cost might cause lower prevalence rates for ITS outsourcing relative to EM outsourcing. Overall, the interview results are consistent with the statistical analyses and provide support to my expectation that in outsourcing to China, Taiwan's electronic manufacturing firms do have lower prevalence rates of IT services outsourcing relative to EM outsourcing due to higher transaction costs caused by certain attributes. To solve this problem, firms' management should aim at identifying alternative strategies and strive to reduce their overall transaction costs of IT services outsourcing by initiating appropriate strategies which fit their environment and needs.

Use of analgesics in intentional drug overdose presentations to hospital before and after the withdrawal of distalgesic from the Irish market

BACKGROUND: Distalgesic, the prescription-only analgesic compound of paracetamol (325 mg) and dextropropoxyphene (32.5 mg) known as co-proxamol in the UK, was withdrawn from the Irish market as of January 2006. This study aimed to evaluate the impact of the withdrawal of distalgesic in terms of intentional drug overdose (IDO) presentations to hospital emergency departments (EDs) nationally. METHODS: A total of 42,849 IDO presentations to 37 of the 40 hospitals EDs operating in Ireland in 2003-2008 were recorded according to standardised procedures. Data on sales of paracetamol-containing drugs to retail pharmacies for the period 1998-2008 were obtained from IMS Health. RESULTS: The withdrawal of distalgesic from the Irish market resulted in an immediate reduction in sales to retail pharmacies from 40 million tablets in 2005 to 500,000 tablets in 2006 while there was a 48% increase in sales of other prescription compound analgesics. The rate of IDO presentations to hospital involving distalgesic in 2006- 2008 was 84% lower than in the three years before it was withdrawn (10.0 per 100,000). There was a 44% increase in the rate of IDO presentations involving other prescription compound analgesics but the magnitude of this rate increase was five times smaller than the magnitude of the decrease in distalgesic-related IDO presentations. There was a decreasing trend in the rate of presentations involving any paracetamol-containing drug that began in the years before the distalgesic withdrawal. CONCLUSIONS: The withdrawal of distalgesic has had positive benefits in terms of IDO presentations to hospital in Ireland and provides evidence supporting the restriction of availability of means as a prevention strategy for suicidal behaviour.

Who Financed the Expansion of the Equity Market? Shareholder Clienteles in Victorian Britain

Who financed the great expansion of the Victorian equity market, and what attracted them to invest? Using data on 453 firm-years and over 172,000 shareholders, we find that the largest providers of capital were rentiers, men with no formal occupation who relied on investment income. We also see a substantial growth in women investors as time progressed. In terms of clientele effects, we find that rentiers invested in large firms, whilst businessmen were the venture capitalists of young, regional enterprises. Women and the middle classes preferred safe investments, whilst financiers and institutional investors were speculators in foreign companies. Our results may help to explain the growth of new types of assets catering for particular clienteles, and the development of managerial policies on dividends and share issues. 

Impact of Rapid Transit on the Residential Market in Hudson County, New Jersey

The New York Metropolitan region is one of the most populous urban agglomerations in the world, and the single largest in North America.[1] It is also one of the most prominent economic centers, with New York City at the epicenter of its growth. With the entire region growing rapidly over the last decade, it is essential to analyze the socio-economic changes in order to understand the impact it has on commercial real estate. With its focus on housing rentals, this study aims to highlight housing costs as a function of rapid transit over time.

Utilizing “Big Data” to Improve the Hotel Sector’s Energy Efficiency: Lessons from Recent Economics Research

Hotel chains have access to a treasure trove of “big data” on individual hotels’ monthly electricity and water consumption. Benchmarked comparisons of hotels within a specific chain create the opportunity to cost-effectively improve the environmental performance of specific hotels. This paper describes a simple approach for using such data to achieve the joint goals of reducing operating expenditure and achieving broad sustainability goals. In recent years, energy economists have used such “big data” to generate insights about the energy consumption of the residential, commercial, and industrial sectors. Lessons from these studies are directly applicable for the hotel sector. A hotel’s administrative data provide a “laboratory” for conducting random control trials to establish what works in enhancing hotel energy efficiency.

A stylized software model to explore the free market equality/efficiency tradeoff

This paper provides an agent-based software exploration of the wellknown free market efficiency/equality trade-off. Our study simulates the interaction of agents producing, trading and consuming goods in the presence of different market structures, and looks at how efficient the producers/consumers mapping turn out to be as well as the resulting distribution of welfare among agents at the end of an arbitrarily large number of iterations. Two market mechanisms are compared: the competitive market (a double auction market in which agents outbid each other in order to buy and sell products) and the random one (in which products are allocated randomly). Our results confirm that the superior efficiency of the competitive market (an effective and never stopping producers/consumers mapping and a superior aggregative welfare) comes at a very high price in terms of inequality (above all when severe budget constraints are in play).

Salt content of processed foods available in the Portuguese market

Evidence suggests that current levels of salt consumption across Europe are linked with several chronic diseases. In recent decades, high blood pressure has increased, together with the consumption of processed foods. World Health Organization (WHO) recommends a salt intake of less than 5 g/day for the prevention of cardiovascular disease. The aim of this study was to evaluate the salt content of processed foods available in the Portuguese market and to compare the determined values with the recommended daily intake established by WHO. Categories of processed foods that contribute to a higher intake of salt were identified: pastry, bakery, fast-food, snacks, ready-to-eat meals, nuts, seeds, soups, cereals, sauces, patties, among others. Between 2013 and 2015, 267 processed food samples were acquired in food chains and restaurants from Lisbon region (Portugal) and the salt content was quantified using Charpentier-Volhard method. High amounts of salt were quantified in the analysed processed foods, namely snacks, fast-food, patties, meals and bakery products. If we consider one portion of a curd cheese pie (193 g), the intake of salt can reach 45% of the recommended value. For snacks, regular portion size is 35 g. One portion of a salty snack can contribute with 31% of the salt recommended daily intake. Up to now food industry has developed efforts to decrease the salt content of some food products, namely bread. However, there still exist foods with high salt content and from a nutritional point of view this should be a priority area of intervention. The obtained results are an effective assessment of current salt content in foods which will be important for further reformulation strategies and to monitor progress in the next years.