Evaluating museum visitor experiences based on user-generated travel photos

ABSTRACT

This research introduces online travel photos published on social media platforms as a complementary data resource to examine the behavior and experience of museum visitors. The practical value of online travel photos is demonstrated through a case study of popular Hong Kong museums, particularly by using the photo content and metadata available from the Flickr platform. The proposed approach is a generic method for understanding museum visitor behavior and preferences, and supports museum practitioners in developing improved products for visitors. The case study findings are particularly beneficial for tourism managers, especially those in Hong Kong, in promoting and attracting tourists to visit local museums.     

Using R to teach econometrics

R, an open‐source programming environment for data analysis and graphics, has in only a decade grown to become a de‐facto standard for statistical analysis against which many popular commercial programs may be measured. The use of R for the teaching of econometric methods is appealing. It provides cutting‐edge statistical methods which are, by R's open‐source nature, available immediately. The software is stable, available at no cost, and exists for a number of platforms, including various flavours of Unix and Linux, Windows (9x/NT/2000), and the MacOS. Manuals are also available for download at no cost, and there is extensive on‐line information for the novice user. This review focuses on using R for teaching econometrics. Since R is an extremely powerful environment, this review should also be of interest to researchers. Copyright © 2002 John Wiley & Sons, Ltd.     

Saving Accounts versus Stocks and Bonds in Household Portfolio Allocation

We study the structure of household portfolios of financial wealth by analyzing both the determinants of total financial wealth and the choice between risky (stocks and bonds) and riskfree assets (saving accounts). The econometric specification is a generalized trivariate Tobit model, estimated on a cross section of 3,077 households in the Netherlands in 1988. We account for endogeneity of financial wealth and for selectivity due to nonreporting. Results show that the level of financial wealth and the marginal tax rate are major determinants of the allocation between riskfree and risky assets.     

Moral Hazard and Risk Management in Agri‐environmental Policy

This paper develops the key finding of Ozanne, Hogan and Colman (2001) that risk aversion among farmers ameliorates the moral hazard problem in relation to agrienvironmental policy compliance. It is shown that risk averse farmers who face uncertainty in their production income are more likely to comply with such a policy as a means of risk management. In addition, it is shown that a principal who has control over both the level of monitoring and the size of penalty, if detected, can reduce non‐compliance by adjustments to these instruments which increase the variance of farmers' income but leave the expected penalty unchanged. It is concluded that risk management by both principals and agents has the potential to diminish the moral hazard problem, especially given proposed developments in agri‐environmental policy in the European Union.     

Current Issues in the Analysis of Commercial Real Estate

This paper identifies and discusses a number of current issues regarding our understanding of commercial real estate markets. These issues include: 1) accurate estimation of the quantity and location of our nation's commercial space; 2) an understanding of the linkage between the space and capital markets for commercial real estate; 3) identification of the macroeconomic factors that affect the rate of return on commercial property and whether local market factors also affect the rate of return; 4) problems associated with measuring the return characteristics of equity investments in commercial property (including measures of the diversification benefits and inflation-hedging abilities of this asset class); 5) a better understanding of rental markets, including good measures of changes in effective rents over time; and 6) examination of the rationale for ownership of commercial space by corporate users. This paper reviews recent research related to these questions and suggests future research that should prove to be fruitful.     

Seasonal variability,land values and willingness–to–pay for a forward wheat contract with protein premiums and discounts

This article investigates the impact of a protein premiums and discounts system on the income stream from growing wheat. Based on a biological relationship between protein and yield in uncertain seasonal conditions, it shows that such a system reduces the expected level and variability of wheat income. It is subsequently argued, using a numerical analysis, that protein payments affect both the attraction to wheat growers of forward contracts and the value of land used for wheat. The nature of both of these impacts is related to the level of seasonal variability affecting the land. Consequently, wheat growers in the more unreliable regions of the wheatbelt may have been particularly disadvantaged by the system.     

UK Asian communities: A profitable market for nonprofits?

The ethnic minority communities in the UK are an increasingly powerful force. But UK charities have not had a great deal of experience in approaching this market, despite a readily acknowledged desire to increase their own levels of cultural diversity. How many want a better ethnic representation among their donor base? How many want greater cultural diversity among volunteers, let alone staff? This paper examines the Asian communities within the UK, and suggests that these are groupings with which UK charities should be engaging. The communities are identifiable, with strong philanthropic traditions, they have increasing economic power and they are accessible. The paper also looks briejly at a positive response generated by one organisation-the Aga Khan Foundation (UK) — to a non-denominational, intercommunal appeal for funds from the Asian Communities in the UK.     

The brain drain and education opportunity in less developed countries

The impact of the brain drain on the educational systems of the countries of origin is examined, with particular reference to governmental decisions concerning education subsidies and the market for educational services. Two hypothetical cases are considered, one in which governments increase expenditures for education in the presence of a widespread brain drain, the other in which they decrease such expenditures.     

Dynamic modelling of pollution abatement in a CGE framework

This paper deals with the specification of pollution abatement in dynamic computable general equilibrium (CGE) models and analyses the dynamic feedback mechanisms between economy and abatement in the context of environmental policy. A Ramsey-type economic model is presented, in which bottom-up technical and economic information on abatement techniques is integrated in a top-down dynamic CGE context. The practical suitability of the specification is illustrated by an empirical application for climate change and acidification in the Netherlands. The results show that a mixture of some slowdown of economic growth, a substantial restructuring of the economy and implementation of most technical abatement measures is optimal.