On a family of data-based transformed models useful in forecasting technological substitutions

This paper examines, via real data, some well known models for technology substitution analysis. We propose a family of data-based transformed models that will include the models under examination as special cases. The basic thrust of the paper is the recognition that for technology substitution analysis, the observations are time series data and hence are not independent. Also, the functional form of the model should be determined by both theoretical considerations as well as the data on hand. This suggests that the traditional ordinary least squares procedure used in estimating the parameters and the resulting forecasting procedures are not adequate. The existing models examined here are Fisher–Pry, Gompertz, Weibull, and Normal. We stress the statistical aspects of the models and their relative merits in terms of predictive power. The criteria used for the purpose of comparison are the mean squared deviation and the mean absolute deviation of the predicted values compared with the actual observations.     

The asymmetric relationship between executive earnings management and compensation: a panel threshold regression approach

Prior research shows that chief executive officers (CEOs) are rewarded for their earnings management. We re-examine this issue using a panel threshold regression approach, which allows the effect of earnings management on the CEO compensation to change across the level of earnings management and CEO compensation. Our results show that the effect of CEOs’ discretionary accounting choices on their compensation is not homogeneous across various degrees of earnings management and compensation. In particular, for firms with moderate (inordinate) levels of earnings management and CEO compensation, earnings management is rewarded (penalized).     

Social norms, information, and trust among strangers: theory and evidence

Can a social norm of trust and reciprocity emerge among strangers? We investigate this question by examining behavior in an experiment where subjects repeatedly play a two-player binary “trust” game. Players are randomly and anonymously paired with one another in each period. The main questions addressed are whether a social norm of trust and reciprocity emerges under the most extreme information restriction (anonymous community-wide enforcement) or whether trust and reciprocity require additional, individual-specific information about a player’s past history of play and whether that information must be provided freely or at some cost. In the absence of such reputational information, we find that a social norm of trust and reciprocity is difficult to sustain. The provision of reputational information on past individual decisions significantly increases trust and reciprocity, with longer histories yielding the best outcomes. Importantly, we find that making reputational information available at a small cost may also lead to a significant improvement in trust and reciprocity, despite the fact that most subjects do not choose to purchase this information.     

The spatial and temporal variation in passenger service rate and its impact on train dwell time: A time-series clustering approach using dynamic time warping

This study aims to improve the understanding of the underlying mechanism of passenger boarding and alighting processes, as well as its potential influence on train dwell time and train operation. Empirical data collected from one of busiest metro stations in Seoul, Korea, demonstrates the spatial and temporal variation in the passenger service rate, as a result of interference between boarding, alighting, and standing passengers. This study postulates that the level of interference can be associated with the train car occupancy and the proximity of train door to entry points, as waiting passengers tend to cluster near the platform entries. A unique temporal service rate curve is derived from each door location. We introduce Dynamic Time Warping for similarity assessment and clustering. It revealed four groups of train doors showing distinct shapes of curve from each platform. The first cluster includes the train doors located closest to the platform entry points where the initial service rate is drastically impeded by severe inference among passengers. The level of interference gradually diminishes as the door is located farther away from the entry points, but the overall service rate decreases as well. A passenger service time model is derived to include the cluster variable. To test its significance, the prediction capability of the model is presented with and without the cluster variable. The results of this study may be used to guide waiting passengers along the platform to minimize interference and to avoid serious disruption during passenger service time.     

Do the physical facilities in restaurants match older Americans’ preferences?

This study investigated restaurants’ response to the aging population’s preferences. Gaps between previously identified preferences and current restaurant design were examined. The observational survey assessed: parking and outside accessibility, comfort and inside accessibility, menu readability, and restrooms. Occasional gaps were found even though restaurants were generally well-designed. Casual dining restaurants were more likely to meet consumer preferences as to the exterior, seating, and service. Limited-service restaurants better met preferences for the bathrooms, lighting, and sound. This information may be helpful when building or remodeling restaurants and may help restaurants to attract older customers.     

Do rice prices follow a random walk? Evidence from Markov switching unit root tests for Asian markets

This study revisits the issue of mean reversion in the import rice prices of six Asian countries over the period between 1995 and 2015. Augmented Dickey Fuller tests with a conventional linear regression model support the presence of a unit root in the levels of the price data. However, when regressions allow for Markov switching in coefficients and variances to capture periodic shifts in levels and volatilities, there is strong evidence against the unit‐root null hypothesis in favor of stationarity over much of the observation period.     

The relation among self-efficacy,learning approaches,and academic performance: an exploratory study

Self-efficacy influences students’ activities, effort and persistence, and it can help predict their motivation and academic performance. This study attempts to investigate the relationship between self-efficacy, preferred learning methods, and academic performance under different learning methods in a unique hospitality course setting. The results indicate that hospitality management students prefer a “learn by doing” approach instead of computer-based learning and lecturing. This study concludes that self-efficacy affects the academic performance in both lecturing and practical learning in hospitality education. However, students’ preference in terms of learning methods does not influence their academic performance. Emphasizing “learn by doing” in the hospitality higher education curriculum is recommended in addition to recruiting faculty members with extensive industry experience. Conversely, it is recommended that faculty find the means to increase students’ self-efficacy when adopting different teaching approaches.     

International Students in Asia: Travel Behaviors and Destination Perceptions

This study investigates the incidence of international student travel in Taiwan. It was found that Chinese, Asian and other international students behave somewhat differently from respondents in prior studies conducted in Western settings. Cultural background influenced the travel behaviors of international students as well as their perceptions of Taiwan as a tourism destination. The visiting friends and relatives (VFR) market induced by Asian respondents offers greater tourism-related potential than the travel activity that students themselves undertake. The contrary was found for non-Asian students where the student-induced VFR market is small and prospectively less attractive than the student market. The Chinese international student travel market and induced VFR market showed less potential than anticipated, perhaps because of the embryonic stage of diplomatic and commercial relations between Taiwan and mainland China.