Examining the direct and interaction effects of picture color cues and textual cues related to color on accommodation-sharing platform rental purchase

Given the increasing popularity of peer-to-peer (P2P) accommodation-sharing platforms (i.e., Airbnb), this paper aims to explore the effects of both picture color cues and textual cues related to color (TCC) on rental decisions made on these platforms in China. Based on cue utilization theory, this paper distinguishes picture color cues signaled from photos listed by hosts and TCC signaled from online guest reviews. The paper conducts an empirical study using data crawled from Xiaozhu.com. The research model is tested with poisson regression using 2520 valid listings collected in Guangzhou and is verified with additional data collected in Shanghai. Results show that both picture color cues and TCC affect rental transactions. Properties displayed with warm-colored pictures are more likely to be rented than those with cold-colored pictures. In addition, the consistency of picture color cues and TCC is found to have a significant impact on rental decisions. Interestingly, we also found an invert-U effect of brightness on rental purchase.     

On the strong uniform consistency of a new kernel density estimator

Summary A new multivariate kernel probability density estimator is introduced and its strong uniform consistency is proved under certain regularity conditions. This result is then applied particularly to a kernel estimator whose mean vector and covariance matrix areμ _n andV _n, respectively, whereμ _n is an unspecified estimator of the mean vector andV _n, up to a multiplicative constant, the sample covariance matrix of the probability density to be estimated, respectively. Work supported by the Natural Sciences and Engineering Research Council of Canada and by the Fonds F.C.A.R. of the Province of Quebec.     

茂名电信分公司员工考勤系统

人力资源管理系统是典型的信息管理系统(MIS),其开发主要包括后台数据库的建立和维护以及前端应用程序的开发两个方面。对于前者要求建立起数据一致性和完整性强。数据安全性好的库。而对于后者则要求应用程序功能完备,易使用等特点。     

On the Time Inconsistency of Optimal Monetary and Fiscal Policies with Many Consumer Goods*

In this paper, we study the time consistency of optimal policies in an environment where agents use cash to purchase many consumer goods and where those goods might be taxed at differential rates. Our main result is that optimal monetary and fiscal policies are, in general, time‐inconsistent, because the number of bond instruments is insufficient to influence all future fiscal decisions. However, there is one special case where optimal policies are time‐consistent, which is when differential tax rates across cash goods are optimally zero.     

PRICING OF HIGH‐DIMENSIONAL AMERICAN OPTIONS BY NEURAL NETWORKS

Pricing of American options in discrete time is considered, where the option is allowed to be based on several underlyings. It is assumed that the price processes of the underlyings are given Markov processes. We use the Monte Carlo approach to generate artificial sample paths of these price processes, and then we use the least squares neural networks regression estimates to estimate from this data the so‐called continuation values, which are defined as mean values of the American options for given values of the underlyings at time t subject to the constraint that the options are not exercised at time t. Results concerning consistency and rate of convergence of the estimates are presented, and the pricing of American options is illustrated by simulated data.     

Optimal Production Tax and Quota under Time Consistent Trade Policies

This article investigates the policy active importers' incentives and welfare implications of using production and trade policies in a dynamic framework where production decisions occur before consumption decisions. We show that the equilibrium for production taxes and quotas are not equivalent, and that each equilibrium depends on whether the trade policy instruments are tariffs or quotas. Under import quotas, the equilibrium policy is to tax domestic production, whereas under a tariff either a production tax or subsidy may be optimal. We also show that a collective agreement to ban production policies is likely to be welfare-improving in many circumstances.     

Commitment and leisure behavior: A theoretical perspective

Abstract

The concept of commitment has been indirectly linked to a variety of topical areas in leisure research. The purpose of this paper is to identify and critique links between commitment and leisure behavior and to identify and discuss the attributes of committed behavior. The contribution of integrating the concept of commitment into research regarding conflict, substitution, recreation specialization, and leisure social worlds is identified and discussed. Tentative propositions linking commitment to leisure behavior are identified. Recommendations are made for the future operationalization of commitment, and its potential contribution to integrating leisure is discussed.     

Relevance weighted likelihood for dependent data

The relevance-weighted likelihood function weights individual contributions to the likelihood according to their relevance for the inferential problem of interest. Consistency and asymptotic normality of the weighted maximum likelihood estimator were previously proved for independent sequences of random variables. We extend these results to apply to dependent sequences, and, in so doing, provide a unified approach to a number of diverse problems in dependent data. In particular, we provide a heretofore unknown approach for dealing with heterogeneity in adaptive designs, and unify the smoothing approach that appears in many foundational papers for independent data. Applications are given in clinical trials, psychophysics experiments, time series models, transition models, and nonparametric regression. Received: April 2000     

Constructing useful theory: The case of Six Sigma

Organizational practices related to Six Sigma are believed to have resulted in improved organizational outcomes. The academic community, however, continues to lack understanding of the constructs and causal relationships underlying Six Sigma. Hence, discussion of Six Sigma is buffeted by anecdotal experience reported from practice. We evaluate Six Sigma through the lens of literature on theory development to explain why the Six Sigma constructs, assumptions, and causal relationships are inconsistent with theory development principles. Dr. Anilkumar N. Kharkar has retired from Corning Incorporated.     

The Style Consistency of Hedge Funds

This study examines the style classification and the style consistency of hedge funds using a new proprietary database over the period May 1989 to April 1999. First, a hard clustering procedure is applied to classify hedge funds into homogeneous groups. It is shown that the methodology is robust and can be used to build stable hedge funds indexes. The method performs equally well as the principal component analysis in explaining in‐ and out‐of‐sample cross‐sectional hedge funds' returns. Second, we extend hard to fuzzy cluster memberships, relaxing the full assignment of the funds to individual clusters. We apply the fuzzy clustering methodology to estimate hedge funds' probabilistic exposure to various styles. We introduce three consistency indicators to quantify the hedge fund managers' style opportunism levels. We finally document that there is no evidence that style consistency leads to superior hedge funds' performance.