Optimal Divisionalization for Selling Networks of Cable Television Services

In this article, a condition for the optimal division’s number is calculated, for a market with two cable operators who offer a network service. The rationale for justifying the partial covering of the national market from the cable operators is presented. Furthermore, a problem of moral hazard is revealed, which is able to appear through the implementation of franchising schemes with independent divisions. This is particularly interesting because it can be applied to several industries such as Cable Television and Entertainment, and other activities including Internet and Computer Games Centres, which offer Internet broadband access and network games.Cable Television, Divisionalization, Franchising.

Survival Analysis in Tourism Demand: The length of stay in Latin American destinations

This article analyses the determinants of the length of stay of Portuguese tourists taking vacations in Latin America, based on a questionnaire distributed on flights of a Portuguese charter airline, Air Luxor. A survival model is adopted to measure the relationship between vacation length and covariates. It is concluded that the most affluent tourists, who are motivated by culture, climate and security, will have the longest stays. The policy implication is derived.duration models; heterogeneity; tourism; Latin America.

Iteration of quadratic maps on matrix algebras

We study the iteration of a quadratic family in the algebra of 2 × 2 real matrices, parameterized by a matrix C. We analyze and classify the existing cycles (periodic orbits) and their dependence on the parameter matrix. We discuss how new dynamical phenomena occur as a consequence of the noncommutativity of the matrix product. In particular, we show that the commutator of the initial condition with parameter matrix C has a decisive role in the overall dynamics

Orbit Representations from Linear mod 1 Transformations

We show that every point $x_0\in [0,1]$ carries a representation of a $C^*$-algebra that encodes the orbit structure of the linear mod 1 interval map $f_{\beta,\alpha}(x)=\beta x +\alpha$. Such $C^*$-algebra is generated by partial isometries arising from the subintervals of monotonicity of the underlying map $f_{\beta,\alpha}$. Then we prove that such representation is irreducible. Moreover two such of representations are unitarily equivalent if and only if the points belong to the same generalized orbit, for every $\alpha\in [0,1[$ and $\beta\geq 1$

Subjective Expectations Equilibrium in Economies with Uncertain Delivery

In economies with uncertain delivery, agents trade their endowments for lists instead of bundles. A list specifies a set of bundles such that the agent has the right to receive one of them. In this paper, with continuity conditions on private beliefs about the bundle that will be delivered, we establish existence of a subjective expectations equilibrium.Private information, Uncertain delivery, Subjective expectations equilibrium, General equilibrium, Incomplete information, Real options.

Private Information: Similarity as Compatibility

We investigate the continuity of equilibrium in differential information economies with a finite number of agents. In this setting, agents can make contingent contracts based on events that are commonly observed. With private information modelled as finite partitions of a compact and metrizable space of states of nature, we introduce a topology on information that takes into account the compatibility of information fields in assessing similarity between private information fields. This topology allows us to establish upper semicontinuity of the private core correspondence.Differential Information Economy, Asymmetric Information, Radner Equilibrium, Private Core, Topologies on Information.

Two-period economies with private state verification

Private state verification is introduced in a two-period economy with spot markets in both periods and complete futures markets for contingent delivery in the second period. Existence of equilibrium is established, under standard assumptions. An example is presented in which a complete set of contingent markets allows agents to arrive at the optimal allocation of risk-bearing, while securities are not sufficient.General equilibrium, Asymmetric information, Private state verification, Two-period economies