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

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

Community detection for correlation matrices

A challenging problem in the study of complex systems is that of resolving, without prior information, the emergent, mesoscopic organization determined by groups of units whose dynamical activity is more strongly correlated internally than with the rest of the system. The existing techniques to filter correlations are not explicitly oriented towards identifying such modules and can suffer from an unavoidable information loss. A promising alternative is that of employing community detection techniques developed in network theory. Unfortunately, this approach has focused predominantly on replacing network data with correlation matrices, a procedure that tends to be intrinsically biased due to its inconsistency with the null hypotheses underlying the existing algorithms. Here we introduce, via a consistent redefinition of null models based on random matrix theory, the appropriate correlation-based counterparts of the most popular community detection techniques. Our methods can filter out both unit-specific noise and system-wide dependencies, and the resulting communities are internally correlated and mutually anti-correlated. We also implement multiresolution and multifrequency approaches revealing hierarchically nested sub-communities with `hard' cores and `soft' peripheries. We apply our techniques to several financial time series and identify mesoscopic groups of stocks which are irreducible to a standard, sectorial taxonomy, detect `soft stocks' that alternate between communities, and discuss implications for portfolio optimization and risk management.Comment: Final version, accepted for publication on PR

Contourlet Domain Image Modeling and its Applications in Watermarking and Denoising

Statistical image modeling in sparse domain has recently attracted a great deal of research interest. Contourlet transform as a two-dimensional transform with multiscale and multi-directional properties is known to effectively capture the smooth contours and geometrical structures in images. The objective of this thesis is to study the statistical properties of the contourlet coefficients of images and develop statistically-based image denoising and watermarking schemes. Through an experimental investigation, it is first established that the distributions of the contourlet subband coefficients of natural images are significantly non-Gaussian with heavy-tails and they can be best described by the heavy-tailed statistical distributions, such as the alpha-stable family of distributions. It is shown that the univariate members of this family are capable of accurately fitting the marginal distributions of the empirical data and that the bivariate members can accurately characterize the inter-scale dependencies of the contourlet coefficients of an image. Based on the modeling results, a new method in image denoising in the contourlet domain is proposed. The Bayesian maximum a posteriori and minimum mean absolute error estimators are developed to determine the noise-free contourlet coefficients of grayscale and color images. Extensive experiments are conducted using a wide variety of images from a number of databases to evaluate the performance of the proposed image denoising scheme and to compare it with that of other existing schemes. It is shown that the proposed denoising scheme based on the alpha-stable distributions outperforms these other methods in terms of the peak signal-to-noise ratio and mean structural similarity index, as well as in terms of visual quality of the denoised images. The alpha-stable model is also used in developing new multiplicative watermark schemes for grayscale and color images. Closed-form expressions are derived for the log-likelihood-based multiplicative watermark detection algorithm for grayscale images using the univariate and bivariate Cauchy members of the alpha-stable family. A multiplicative multichannel watermark detector is also designed for color images using the multivariate Cauchy distribution. Simulation results demonstrate not only the effectiveness of the proposed image watermarking schemes in terms of the invisibility of the watermark, but also the superiority of the watermark detectors in providing detection rates higher than that of the state-of-the-art schemes even for the watermarked images undergone various kinds of attacks

Multispectral texture synthesis

Synthesizing texture involves the ordering of pixels in a 2D arrangement so as to display certain known spatial correlations, generally as described by a sample texture. In an abstract sense, these pixels could be gray-scale values, RGB color values, or entire spectral curves. The focus of this work is to develop a practical synthesis framework that maintains this abstract view while synthesizing texture with high spectral dimension, effectively achieving spectral invariance. The principle idea is to use a single monochrome texture synthesis step to capture the spatial information in a multispectral texture. The first step is to use a global color space transform to condense the spatial information in a sample texture into a principle luminance channel. Then, a monochrome texture synthesis step generates the corresponding principle band in the synthetic texture. This spatial information is then used to condition the generation of spectral information. A number of variants of this general approach are introduced. The first uses a multiresolution transform to decompose the spatial information in the principle band into an equivalent scale/space representation. This information is encapsulated into a set of low order statistical constraints that are used to iteratively coerce white noise into the desired texture. The residual spectral information is then generated using a non-parametric Markov Ran dom field model (MRF). The remaining variants use a non-parametric MRF to generate the spatial and spectral components simultaneously. In this ap proach, multispectral texture is grown from a seed region by sampling from the set of nearest neighbors in the sample texture as identified by a template matching procedure in the principle band. The effectiveness of both algorithms is demonstrated on a number of texture examples ranging from greyscale to RGB textures, as well as 16, 22, 32 and 63 band spectral images. In addition to the standard visual test that predominates the literature, effort is made to quantify the accuracy of the synthesis using informative and effective metrics. These include first and second order statistical comparisons as well as statistical divergence tests

Measurements, Models, Systems and Design

531 s.

Discrete Wavelet Transforms

The discrete wavelet transform (DWT) algorithms have a firm position in processing of signals in several areas of research and industry. As DWT provides both octave-scale frequency and spatial timing of the analyzed signal, it is constantly used to solve and treat more and more advanced problems. The present book: Discrete Wavelet Transforms: Algorithms and Applications reviews the recent progress in discrete wavelet transform algorithms and applications. The book covers a wide range of methods (e.g. lifting, shift invariance, multi-scale analysis) for constructing DWTs. The book chapters are organized into four major parts. Part I describes the progress in hardware implementations of the DWT algorithms. Applications include multitone modulation for ADSL and equalization techniques, a scalable architecture for FPGA-implementation, lifting based algorithm for VLSI implementation, comparison between DWT and FFT based OFDM and modified SPIHT codec. Part II addresses image processing algorithms such as multiresolution approach for edge detection, low bit rate image compression, low complexity implementation of CQF wavelets and compression of multi-component images. Part III focuses watermaking DWT algorithms. Finally, Part IV describes shift invariant DWTs, DC lossless property, DWT based analysis and estimation of colored noise and an application of the wavelet Galerkin method. The chapters of the present book consist of both tutorial and highly advanced material. Therefore, the book is intended to be a reference text for graduate students and researchers to obtain state-of-the-art knowledge on specific applications

On Gegenbauer long memory stochastic volatility models: A Bayesian Markov chain Monte Carlo approach with applications

This thesis begins by developing a time series model which has generalised (Gegenbauer) long memory in the mean process with stochastic volatility errors where each process is assumed to have Gaussian errors. We subsequently develop and derive a new Bayesian posterior simulator that couples advanced posterior maximisation techniques, as well as traditional latent stochastic volatility estimation procedures. This model provides a distinct advantage by measuring the long memory attributes in the mean process, whilst also estimating the daily time varying volatility of the error process. These findings are then extended to a Gegenbauer long memory stochastic volatility model with leverage and a bivariate Student's t-error distribution to describe the innovations of the observation and latent volatility jointly, with applications to Cryptocurrency time series. The main advantage of pursuing such a model is incorporating the robustness of the Student's t-distribution, and leverage effects to address the deep rooted characteristics found in Cryptocurrencies. The models are applied to Value-at-Risk (VaR) forecasts and several measures are used to assess the forecast performance. Finally, it is found that Cryptocurrencies do indeed show highly distinct behaviours that are not present in fiat currencies, and thus require specialized analysis. Cryptocurrencies as of late have commanded global attention on a number of fronts. Most notably, their variance properties are known for being notoriously wild, unlike their fiat counterparts. The third part of this thesis highlights some stylized facts about the variance measures of Cryptocurrencies and relates these results to their respective cryptographic designs such as intended transaction speed. The overarching implication of these result is the volatility of Cryptocurrencies can be better understood and measured via the use of fast moving autocorrelation functions, as opposed to smoothly decaying functions for fiat currencies

Conjoint probabilistic subband modeling

Thesis (Ph. D.)--Massachusetts Institute of Technology, Program in Media Arts & Sciences, 1997.Includes bibliographical references (leaves 125-133).by Ashok Chhabedia Popat.Ph.D