As Suharto’s authoritarian regime came to an end in 1998, the country’s business elite faced new challenges. While rent seeking had previously primarily taken place through direct relationships with and concessions from Suharto, the business elite in contemporary Indonesia operates in a...

This study suggests an alternative method to estimate time-varying country risk. We first apply a new multivariate stochastic volatility (SV) model to a set of emerging stock markets. To estimate the SV model, we use a Bayesian Markov chain Monte Carlo simulation procedure. By applying the...

The study of crowd dynamics is interesting because of the various self-organization phenomena resulting from the interactions of many pedestrians, which may improve or obstruct their flow. Besides formation of lanes of uniform walking direction and oscillations at bottlenecks at moderate...

The growth of world population, limitation of resources, economic problems, and environmental issues force engineers to develop increasingly efficient solutions for logistic systems. Pure optimization for efficiency, however, has often led to technical solutions that are vulnerable to variations...

The present research investigated what car-use reduction measures are perceived by households to be feasible if their goal is to reduce car driving. In Study 1 a number of such measures were included in a survey questionnaire requesting a total of 770 randomly selected respondents to rate how...

This study looks at the time-varying nature of systematic risk in the Greater China equity markets. The Shanghai and Shenzhen markets both have a low average systematic risk when measured against the world market. The short outbursts in systematic risk for these two markets seem to be directly...

Based on suitable video recordings of interactive pedestrian motion and improved tracking software, we apply an evolutionary optimization algorithm to determine optimal parameter specifications for the social force model. The calibrated model is then used for large-scale pedestrian simulations...

Swarm intelligence is widely recognized as a powerful paradigm of self-organized optimization, with numerous examples of successful applications in distributed artificial intelligence. However, the role of physical interactions in the organization of traffic flows in ants under crowded...

The aim of this paper is to investigate the nature of the links between the stock market reactions to significant news in the information set, relevant to investment decisions, and how firms from a panel revise their investment plans in light of the same information. The data on revisions in...