Optimal Intertemporal Consumption and Involuntary Memories of Consumption

Recent studies introduce the notion of treating autobiographical memories of past pleasurable experiences as assets and expanding the discounted utility model to include the utility of memories of past consumption. Recent studies in psychology have found that involuntary autobiographical memories are common in everyday life. This paper builds on these two strands in the literature by expanding the discounted utility model to include the utility of involuntary memories of past consumption. Optimal control theory is used to develop a continuous‐time optimal consumption model that takes into account the fact that consumption may generate involuntary memories that arrive at random times. The model is used in an in‐depth analysis of optimal consumption with memories. It is shown that memories shift consumption to earlier times. This effect gets weaker as the time horizon gets longer, and it vanishes entirely when the time horizon is infinite.     

Normative and innovative sustainable resource management at birding festivals

The sustainable ancillary resource management (SARM) practices of US-based birding festivals are investigated. A questionnaire completed by organisers of 108 of 135 identified festivals (80%) revealed several normative SARM practices such as signage re-use and container recycling, and a large number of innovative practices undertaken by one or more festivals. Cluster analysis yielded roughly equal groups of 'non-innovators', 'normative recyclers', 'innovative energy conservers', 'innovative recyclers' and 'comprehensive innovators'. SARM innovators also tended to be ecotourism innovators, while innovation was also related to attendee numbers but not festival longevity or identification of festival with 'ecotourism'. No clear diffusion effects are evident. Follow-up surveys suggested positive relationships with cost, attendee satisfaction/demand, and sense of responsibility, but not revenue generation. A dedicated organisation and sponsored certification protocols are suggested to facilitate dissemination of innovative SARM practices, which were less prevalent than expected given the nature of such events.     

Heritage tourism: A question of age

This research analyzes the demographic characteristics and motivations of the senior and non-senior market segments in selecting a heritage site. By studying how these two groups of individuals select heritage sites, planners will be better able to comprehend what these individuals expect from their visit. A survey consisting of a historic preservationist scale, benefits sought scale, services sought scale, historic site preference scale, and demographic information was mailed to a systematic random sample of 700 travelers requesting tourism information about Virginia. The findings show that many similarities exist between the senior and non-senior market. However, the senior market is more likely to visit a historic site that is less convenient to reach, has fewer facilities, and is more authentic and less developed; while the non-seniors are motivated more by opportunity to escape work overloads.     

An application of rule-based forecasting to a situation lacking domain knowledge

Rule-based forecasting (RBF) uses rules to combine forecasts from simple extrapolation methods. Weights for combining the rules use statistical and domain-based features of time series. RBF was originally developed, tested, and validated only on annual data. For the M3-Competition, three major modifications were made to RBF. First, due to the absence of much in the way of domain knowledge, we prepared the forecasts under the assumption that no domain knowledge was available. This removes what we believe is one of RBF’s primary advantages. We had to re-calibrate some of the rules relating to causal forces to allow for this lack of domain knowledge. Second, automatic identification procedures were used for six time-series features that had previously been identified using judgment. This was done to reduce cost and improve reliability. Third, we simplified the rule-base by removing one method from the four that were used in the original implementation. Although this resulted in some loss in accuracy, it reduced the number of rules in the rule-base from 99 to 64. This version of RBF still benefits from the use of prior findings on extrapolation, so we expected that it would be substantially more accurate than the random walk and somewhat more accurate than equal weights combining. Because most of the previous work on RBF was done using annual data, we especially expected it to perform well with annual data.     

Faculty Salary Inversion,Compression, and Market Salary Gap in California State University Business Schools

Employee Responsibilities and Rights Journal - Extant literature has examined salary compression and inversion in US academic institutions including arguments that compression constitutes a form of...     

Scandals,the mass media,and the politics of extreme visibility: conflict and controversy at the Niagara Parks Commission

This paper explores the political and media scrutiny of management-related activities at the Niagara Parks Commission (NPC) in Niagara Falls, Canada. This commission is the quasi-autonomous body responsible for the operation of tourism-oriented amenities around the Canadian Horseshoe Falls and along the Niagara River. Between 2009 and 2011, the management of the NPC became politically contentious and certain incidents were publicised by the media. There were accusations of impropriety with respect to the use of an expense account, disputes about untendered contracts, and complaints about conflicts of interest. These incidents could be described as scandals, breaches of accepted rules of conduct that are communicated to a wider audience via the mass media. Three dialectical tensions were identified when these scandals were analysed. The tensions, it is argued, are expressions of a wider trend: a politics of extreme visibility. Scandal-related visibility is different from the forms of visibility that have been previously addressed by tourism scholars. Publicity related to alleged misconduct is typically unwanted by tourism managers. Controversies about the management of the NPC demonstrate that practitioners must be alert to the damaging potential of extreme visibility. Fear of scandal, however, may simultaneously stifle enterprise. Managers must strike a careful balance.