Decision-making in the two-act antitrust decision problem

This paper focuses on the antitrust decision-making process as it pertains to anti-merger policy as a special case of the more general two-act decision problem. We employ the Analytic Hierarchy Process to analyze some prominent antitrust merger decision. The analysis suggests that the courts have failed to give potential competition its due when it acts to dampen any alleged market power accruing to the market leader, which in turn suggests that the defendants would be well advised to reorient the weight that they give to potential competition in designing their defense.     

Earning per share and takeovers

Eps (earning per share) is widely used as a financial measure of performance, but it can be misleading in takeovers and mergers. Conditions are examined under which the eps of a combined enterprise is greater than that of each of the constituent companies prior to the bid, and the relative gains to the bidder (in terms of earning) are stated.     

Moral Judgments in the Age of Artificial Intelligence

Journal of Business Ethics - The current research aims to answer the following question: “who will be held responsible for harm involving an artificial intelligence (AI) system?”...     

Small open economies and external shocks: an application of Bayesian global vector autoregression model

Quality & Quantity - This study assesses the impact of external shocks on select small open economies (SOEs) using the Bayesian variant of the global vector autoregression model with time...     

An Interperiod Network Storage Location–Allocation (INSLA) model for rail distribution of ethanol biofuels

In response to the US federal renewable fuels standards, new ethanol plants of varying sizes are being established in the US. The transportation challenge is to decide on how best to move raw materials to these existing and new ethanol plants, and to ship the fuel from the ethanol plants to markets around the country. In this paper, we extend the Interperiod Network Storage Location–Allocation (INSLA) model formulation into a Rail-INSLA model to address the transportation/transshipment issues associated with the rail distribution of ethanol biofuels that include: transporting less than unit train quantities from each plant, developing new sidings at ethanol plants to accommodate a unit train, and determining the optimal number and locations for carrier operated terminals for the agglomeration of less than unit train size shipments into unit train shipments.     

The Collective Effect of National Culture and Tourist Culture on Tourist Behavior

Cross-cultural understanding in tourism is a well-researched area, but in spite of great amount of time and money spent on cross-cultural training programs, this study suggests miscommunication continues to exist, caused by differences between expected and actual host or guest behavior. A gap, therefore, appears to exist between theory and practice. This article argues that much of this gap can be attributed to international tourists behaving in a manner that diverges from their expected cultural norms when they travel. They join a temporary “tourist culture” that sanctions, and indeed, encourages alternate behavior. Tourist behavior, therefore, represents a combination of national and “tourist” cultures. This proposition is tested by comparing the expected and actual behavior of Korean tourists visiting Australia. The study found that both tourists and frontline hotel staff noted that tourists behaved in a less restrained manner than expected. These findings have significant implications for cross-cultural training.     

Mainland Chinese Tourists to Hawaii: Their Characteristics and Preferences

Tourism is the most economically important industry to the United States' only island state, Hawaii. With Hawaii's highest spending and largest international tourist segment, Japanese, decreasing significantly (a loss from over 2,000,000 in 1997 to just over 1,000,000 Japanese visitors in 2009), Hawaii needs to prepare to replace the significant decrease of Japanese visitors with a new visitor market. The logical new international visitor target market would be tourists from the fastest growing economy in the world, that being China. The purpose of this study is to explore the differences in attitudinal and behavioral characteristics, and preferences of Chinese tourists in Hawaii according to key sociodemographic variables. The results of this study conclude that sociodemographic variables show significant differences in attitudinal and behavioral characteristics. For example, when comparing the number of times a respondent had visited Hawaii, first-time visitors showed the highest level of preference for a deluxe hotel while second-time visitors showed the highest level of preference for a budget hotel. Those who had visited Hawaii three or more times indicated the highest preference for a first class hotel and also to be more interested in high-end shopping. First-time visitors showed the highest percentage in the lowest category of estimated cost of gifts (US$0–US$300). This indicates that Hawaii tour operators should focus on introducing more discounted shopping to first-time visitors.

The results of this study are likely to be beneficial for understanding Chinese tourists and establishing marketing policies to enhance their satisfaction and raise their intention to revisit Hawaii. The findings of this study could be helpful for all stakeholders including local tour operators, the hotels, and Hawaii's tourism officials.