Lifestyle segmentation and museum/gallery visiting behaviour

A number of variables have been used in the quest to understand better who visits museums and art galleries. This paper proposes the use of lifestyle segmentation in an attempt to understand how museum and art gallery visits fit in with other aspects of the visitors' life. Research to date has tended to focus on those who actually visit, but little has been done to enhance an understanding of non‐visitors. Lifestyle studies, undertaken across a representative sample of a population, offer the potential to understand not only those who visit, but also those who do not. Seven segments result from this lifestyle analysis of New Zealanders, with a significant relationship evident between lifestyle grouping and frequency of visits to museums and art galleries. As each of these lifestyle segments also demonstrates significantly different media characteristics, there are important implications for the placement and tone of promotional messages. Copyright © 2001 Henry Stewart Publications     

Modifying the RPI-X Regulatory System to Include Profit-sharing

This paper aims to contribute to the economic theory of RPI-X (price-cap) regulatory systems which include profit-sharing between a company and its customers. The particular focus is on whether profit-sharing can be introduced in an investment-neutral manner, and on whether there is scope to choose a profit-sharing system which maximises the expected customer rebate. Using a model of a company choosing optimal capacity in the face of uncertain demand and subject to price-cap regulation, it is shown that the potential exists for profit-sharing to be investment-neutral, and it is suggested that the expected customer rebate is maximised for an investment-neutral system which is effectively a cap on profits at a specified level.     

INCOME AND WEALTH OVER THE LIFE CYCLE EVIDENCE FROM PANEL DATA

In this paper we examine household wealth and income in the Netherlands using data from the Socio Economic Panel (SEP) in the period 1987–89. We provide an evaluation of the quality of the data and some simple statistics which describe the behavior of wealth, saving, and income over the life cycle. We find there is substantial heterogeneity in the behavior of households, and wealth holdings vary substantially even among the same age group. By exploiting the panel feature of the SEP, we derive saving from first differencing wealth. We find that a sizeable fraction of households do not dissave when old and we find some evidence in favor of the bequest motive.     

Modern Strategies for Time Series Regression

This paper discusses several modern approaches to regression analysis involving time series data where some of the predictor variables are also indexed by time. We discuss classical statistical approaches as well as methods that have been proposed recently in the machine learning literature. The approaches are compared and contrasted, and it will be seen that there are advantages and disadvantages to most currently available approaches. There is ample room for methodological developments in this area. The work is motivated by an application involving the prediction of water levels as a function of rainfall and other climate variables in an aquifer in eastern Australia.     

TRADE AND FINANCIAL FLOWS IN A WORLD ACCOUNTING FRAMEWORK: A BALANCED WAM FOR 1990

How accurately do we measure the external deficit of the U.S. or the surplus of Japan? If checked at the global level, statistics on international trade and finance show large discrepancies. Such global statistical discrepancies hamper the analysis and understanding of world economic developments. An accounting framework—labelled World Accounting Matrix (WAM)—is proposed to cross-check the statistical consistency of commodity flows, international payments and internal balances across countries. The framework is applied to data for 1990. To obtain global consistency, substantial adjustments had to be made to the estimates of the external balances of the U.S. and Japan. The implications for global modelling work are potentially vast.     

The internet and tourism‐part IV: TravelWeb

Abstract

The sporadic domestic political instability during the last decade, compounded with the ongoing international war on terrorism in Afghanistan and beyond, has created a substantial decline in tourist visits to Nepal. Safety and security are important aspects of travel destination choice and the perceived risk within Nepal and the South Asian region has mired the pace of international tourist arrivals. The objectives of this paper were to examine the state of tourism in Nepal and the negative repercussions of the political instability and international conflict that has thwarted the potential for growth.