The effects of structural breaks in dynamic panels are more complicated than in time series models as the bias can be either negative or positive. This paper focuses on the effects of mean shifts in otherwise stationary processes within an instrumental variable panel estimation framework. We...

Purpose – Many modern businesses have accommodation needs which vary sharply over time. Corporate real estate (CRE) managers plan for these variations using “common sense” estimates based on average occupation levels, and these estimates are almost always wrong. This study aims to present...

Purpose – This paper aims to propose a decision support tool that would aid decision-makers to implement energy-saving measures efficiently in a corporate real estate. Design/methodology/approach – The tool consists of a system dynamic model that allows describing and quantifying the complex...

Purpose – The purpose of this paper is to try to show how to manage risk by the use of “value at risk (VaR) concept” with Monte Carlo Simulation (MCS) technique in stock exchanges. Design/methodology/approach – The paper uses MCS technique in calculation of VaR in different set of stock...

Purpose – As increasing numbers of older people retain their teeth for longer, the result is a dramatic change in both the volume and type of dental treatment required. In response to the ageing population issues, changing dental needs, a shortage of NHS dentists, and the creation of new roles...

Purpose – This paper aims to identify the relative contribution of sustainability criteria to property value risk. Design/methodology/approach – A discounted cash flow (DCF) model is used to assess the effect of a given set of 42 sustainability sub-indicators on property value. The...

Purpose – The purpose of this paper is to formulate procurement strategies and determine the optimal procurement quantity in order to maximize profit through forward contracting and the spot market. Design/methodology/approach – The procurement process is modeled at various stages along a...

Purpose Structural equation modeling (SEM) is a well-established and frequently applied method in various disciplines. New methods in the context of SEM are being introduced in an ongoing manner. Since formal proof of statistical properties is difficult or impossible, new methods are frequently...

This paper has four purposes. First, we outline the controversy surroundingthe issue of negative willingness to pay (WTP)in contingent valuation (CV) studies. Second,we use Monte Carlo simulation to examine theperformance of alternative distributionalassumptions in estimating WTP in the...