Output subsidies and quotas under uncertainty and firm heterogeneity

This paper studies the relative efficiency of two kinds of regulations, quantity restrictions (quotas) and output subsidies, in an imperfectly competitive market under the existence of two sources of uncertainty: uncertainty in both costs and prices. We find that when the two sources of uncertainty are independently distributed, the output subsidy instrument has comparative advantage over the quantity instrument. However, when we take into account the possibility of correlation between the random components and across firms marginal costs, we find that a positive (negative) correlation tends to favor the quantity (subsidy) instrument. Finally, we show that when the correlation is positive, it is possible to find situations in which the quantity instrument has comparative advantage over the subsidy instrument.Cost uncertainty, demand uncertainty, firm heterogeneity, output subsidy and quantity instruments

La presencia de las finanzas corporativas en revistas de ámbito turístico

Con este estudio pretendemos observar la presencia de investigaciones en finanzas corporativas aplicadas al turismo en el período 1995-2012. Se ha utilizado la base de datos Scopus para revistas turísticas indexadas en el Journal Citacion Reports, y el gestor bibliográfico Mendeley para gestionar los resultados. Se han seleccionado 121 artículos con contenido básicamente relacionado con finanzas de empresa. Los resultados revelan que la tipología de investigación mayoritariamente empleada ha sido la empírica; la temática de mayor interés son la gestión financiera de la empresa, la creación de valor, estructura de capital y decisiones de inversión. También destaca International Journal of Hospitality Management como la revista de mayor presencia financiera en la empresa.The purpose of this study is to observe the presence of corporate finance research applied to tourism during the 1995-2012 period. The Scopus database has been used for tourism journals indexed in Journal Citation Reports and the Mendeley reference manager was used to manage the results. One hundred and twenty-one articles were selected with basically financial content. The results reveal that in the majority of cases empirical research typology was used; the subject matter that aroused most interest was corporate finances and, within this, company financial management, value creation, capital structure and investment decisions. The International Journal of Hospitality Management also stands out as the journal with the greatest presence of finances

Creación, dinamización y puesta en valor del destino turístico emergente: campiña turística sevillana

En el presente artículo intentamos mostrar un modelo de dinamización de La Campiña Turística Sevillana. Para ello, comenzaremos con la creación y justificación del destino turístico, diseñaremos el producto y lo orientaremos hacia la demanda y segmentos turísticos adecuados. Ello está justificado en que esta área geográfica, en los últimos cinco años, ha apostado firmemente por la diversidad y el desarrollo integral del destino, con la vista puesta en un desarrollo turístico sostenible y de calidad, que ha contribuido a mejorar la calidad de vida de su sociedad. La clave turística de este destino está en la diversidad histórica y paisajística que la caracteriza. En estos momentos, Campiña Turística se encuentra en una situación favorable de cara al turismo potencial. Por ello, distintos organismos públicos como Prodetur, S.A., aúnan esfuerzos para unir siete localidades no pertenecientes a una organización territorial determinada, formar el destino turístico emergente Campiña Turística, y dinamizarlo cumpliendo todos los requisitos vigentes en la normativa en materia turística, dotándolo de todos los instrumentos necesarios para poder elevarlo hacia la excelencia.In this article we attempt to provide a dinamization model of the Tourism in the Sevillian Countryside (Campiña Turística Sevillana). To do this, we start with the creation and justification of the destination; we will design the product and demand- driven and appropriate tourist segments. This is justified in this geographic area, as in the last five years, is strongly committed to diversify and arrive at the integral development of destination, in order to reach a sustainable tourism development and quality, which has helped improve the quality of life of their society. The key of this tourist destination is the historic and scenic diversity that characterizes it. At present, Tourism in the Sevillian Countryside is in a good position facing the tourism potential. Therefore, various public bodies as Prodetur SA join forces to connect seven locations without territorial organization determined to form the emerging tourist destination Tourism in the Countryside, doing a dinamization, meeting all requirements in the tourism industry standards, and providing it with all the tools they need to raise it toward excellence

How to automate a kinematic mount using a 3D printed Arduino-based system

We demonstrate a simple, flexible and cost-effective system to automatize most of the kinematic mounts available nowadays on the market. It combines 3D printed components, an Arduino board, stepper motors, and simple electronics. The system developed can control independently and simultaneously up to ten stepper motors using commands sent through the serial port, and it is suitable for applications where optical realignment using flat mirrors is required on a periodic basis.Comment: 9 pages, 8 figure