214 research outputs found

    Untangling hotel industry’s inefficiency: An SFA approach applied to a renowned Portuguese hotel chain

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    The present paper explores the technical efficiency of four hotels from Teixeira Duarte Group - a renowned Portuguese hotel chain. An efficiency ranking is established from these four hotel units located in Portugal using Stochastic Frontier Analysis. This methodology allows to discriminate between measurement error and systematic inefficiencies in the estimation process enabling to investigate the main inefficiency causes. Several suggestions concerning efficiency improvement are undertaken for each hotel studied.info:eu-repo/semantics/publishedVersio

    Markovian-based clustering of internet addiction trajectories

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    A hidden Markov clustering procedure is applied to a sample of n=185 longitudinal Internet Addiction Test trajectories collected in Switzerland. The best solution has 4 groups. This solution is related to the level of emotional wellbeing of the subjects, but no relation is observed with age, gender and BMI

    A discussion on hidden Markov models for life course data

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    This is an introduction on discrete-time Hidden Markov models (HMM) for longitudinal data analysis in population and life course studies. In the Markovian perspective, life trajectories are considered as the result of a stochastic process in which the probability of occurrence of a particular state or event depends on the sequence of states observed so far. Markovian models are used to analyze the transition process between successive states. Starting from the traditional formulation of a first-order discrete-time Markov chain where each state is liked to the next one, we present the hidden Markov models where the current response is driven by a latent variable that follows a Markov process. The paper presents also a simple way of handling categorical covariates to capture the effect of external factors on the transition probabilities and existing software are briefly overviewed. Empirical illustrations using data on self reported health demonstrate the relevance of the different extensions for life course analysis

    Using dynamic microsimulation to understand professional trajectories of the active Swiss population

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    Within the social and economic sciences and of particular interest to demographers are life course events. Looking at life sequences we can better understand which states, or life events, precede or are precursors to vulnerability. A tool that has been used for policy evaluation and recently has been gaining ground in life course sequence simulation is dynamic microsimulation. Within this context dynamic microsimulation consists in generating entire life courses from the observation of portions of the trajectories of individuals of different ages. In this work, we aim to use dynamic microsimulation in order to analyse individual professional trajectories with a focus on vulnerability. The primary goal of this analysis is to deepen upon current literature by providing insight from a longitudinal perspective on the signs of work instability and the process of precarity. The secondary goal of this work which is to show how, by using microsimulation, data collected for one purpose can be analysed under a different scope and used in a meaningful way. The data to be used in this analysis are longitudinal and were collected by NCCR-LIVES IP207 under the supervision of Prof. Christian Maggiori and Dr. Gregoire Bollmann. Individuals aged 25 to 55 residing in the German-speaking and French-speaking regions of Switzerland were followed annually for four years. These individuals were questioned regarding, amongst their personal, professional and overall situations and well-being. At the end of the fourth wave, there were 1131 individuals who had participated in all waves. The sample remained representative of the Swiss population with women and the unemployed slightly over represented. Using the information collected from these surveys, we use simulation to construct various longitudinal data modules where each data module represents a specific life domain. We postulate the relationship between these modules and layout a framework of estimation. Within certain data modules a set of equations are created to model the process therein. For every dynamic (time-variant) data module, such as the labour-market module, the transition probabilities between states (ex. labour market status) are estimated using a Markov model and then the possible outcomes are simulated. The benefit of using dynamic microsimulation is that longitudinal sample observations instead of stylised profiles are used to model population dynamics. This is one of the main reasons large-scale dynamic microsimulation models are employed by many developed nations. There has been limited use, however, of such approaches with Swiss data. This work contributes to the analysis of professional trajectories of the active Swiss population by utilising dynamic microsimulation methods

    Machine learning applications in operations management and digital marketing

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    In this dissertation, I study how machine learning can be used to solve prominent problems in operations management and digital marketing. The primary motivation is to show that the application of machine learning can solve problems in ways that existing approaches cannot. In its entirety, this dissertation is a study of four problems—two in operations management and two in digital marketing—and develops solutions to these problems via data-driven approaches by leveraging machine learning. These four problems are distinct, and are presented in the form of individual self-containing essays. Each essay is the result of collaborations with industry partners and is of academic and practical importance. In some cases, the solutions presented in this dissertation outperform existing state-of-the-art methods, and in other cases, it presents a solution when no reasonable alternatives are available. The problems are: consumer debt collection (Chapter 3), contact center staffing and scheduling (Chapter 4), digital marketing attribution (Chapter 5), and probabilistic device matching (Chapters 6 and 7). An introduction of the thesis is presented in Chapter 1 and some basic machine learning concepts are described in Chapter 2

    Essays on Risk Creation in the Banking Sector

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    This thesis consists of four essays exploring risk creation in the banking sector. The essays examine how conflicting interests can compromise the objectivity, judgment, and decision making of economic agents. Consequently, they may prioritize their personal or institutional interests over the best interests of others or the entire financial system. Chapter 2 delves into the conflict of interest that arises when a bank serves as an investor in the stock market. Chapter 3 revisits the discussion of the potential misalignment between sovereign incentives and the collective interests of the currency union, particularly in the bond market. Chapter 4 draws attention to a situation where regulations in the banking sector may be advantageous for a government in the sovereign bond market. Finally, Chapter 5 looks at the flip side of the coin, examining how banks may be susceptible to moral hazard concerns in their FX lending decisions, given that they do not fully bear the consequences of their actions

    Incorporating declared capacity uncertainty in optimizing airport slot allocation

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    Slot allocation is the mechanism used to allocate capacity at congested airports. A number of models have been introduced in the literature aiming to produce airport schedules that optimize the allocation of slot requests to the available airport capacity. A critical parameter affecting the outcome of the slot allocation process is the airport’s declared capacity. Existing airport slot allocation models treat declared capacity as an exogenously defined deterministic parameter. In this presentation we propose a new robust optimization formulation based on the concept of stability radius. The proposed formulation considers endogenously the airport’s declared capacity and expresses it as a function of its throughput. We present results from the application of the proposed approach to a congested airport and we discuss the trade-off between the declared capacity of the airport and the efficiency of the slot allocation process
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