Tests for causality and rationality in the coffee futures market were carried out using data from the New York Market. Tests of causality indicated that futures prices strongly influence variations in spot price eight weeks or more to maturity. However, beginning seven weeks to maturity there...

The workhorse brand choice models in marketing are the multinomial logit (MNL) and nested multinomial logit (NMNL). These models place strong restrictions on how brand share and purchase incidence price elasticities are related. In this paper, we propose a new model of brand choice, the “price...

Exploration is a costly activity that helps a business improve their understanding of a potential mineral deposit. Yet, even with strong exploration results, the business faces uncertainty over the value of the mine. I model this situation as a game of chance. The game starts by giving an agent...

The purpose of this study was to substantiate the consumption styles of adolescents as customer. The study was executed in Karachi, Pakistan by applying consumption style inventory scale. The data covered of 1,048 respondents who are young and educated mostly students, which belong to the...

This study attempts to show how a Kohonen map can be used to improve the temporal stability of the accuracy of a financial failure model. Most models lose a significant part of their ability to generalize when data used for estimation and prediction purposes are collected over different time...

Tone & Tsutsui (2010) introduced a hybrid model (epsilon-based measure, EBM), which combines both radial and non-radial measures in a unified framework [Tone, K., & Tsutsui, M. (2010). An epsilon-based measure of efficiency in DEA - A third pole of technical efficiency. European Journal of...

In general, rational economic agents trade off the cost of waiting for the statistical agencies disseminate the final results of the relevant surveys before making a decision, on the one hand, and of making use of some model based predictions. Thus, from the viewpoint of agents, predictions and...

This paper uses mixed combinatorial-cum-real particle swarm method to obtain a heuristically optimal order in which the constituent variables can be arranged so as to yield some generalized maximum entropy synthetic indicators that represent the constituent variables in the best...

This work concerns the maximum flows – minimum cost problem and its main algorithmic solutions. Such a problem involves determining the least cost shipment of a commodity through a capacitated network in order to satisfy demands at certain vertices using supplies available at other vertices....

The ranking of football players has always engaged media and supporters worldwide. The different views on ranking are due to two reasons. First, leagues are heterogeneous with various qualities. Second, fans often rely on different performance measures and statistics. Despite the fact that team...