Storability on Modeling Commodity Futures Prices

Econometric models of commodity prices have been estimated for more than 80 years, but both structural and time series models require ad hoc assumptions to capture all the features of commodity price series. Commodities can be broadly divided into two categories: storable and non-storable. The purpose of this study is to investigate the effects of storability on commodity futures pricing, especially whether meats can be reasonably approximated by storable commodity term structure models. From the empirical analysis of seven commodity futures prices, the two-factor Schwartz model is found to perform well for less storable commodities.Marketing,

A Term Structure Model for Commodity Prices: Does Storability Matter?

Econometric models of commodity prices have been estimated for more than 80 years, but both structural and time series models require ad hoc assumptions to capture all the features of commodity price series. Commodities can be broadly divided into two categories: storable and non-storable. The purpose of this study is to investigate the effects of storability on commodity futures pricing, especially whether meats can be reasonably approximated by storable commodity term structure models. From the empirical analysis of seven commodity futures prices, the two-factor Schwartz model is found to perform well for less storable commodities.Demand and Price Analysis,

Internacionalización turística de la Marca Barcelona en China. Una orientación hacia cómo promocionar Barcelona en el mercado chino

Màster Oficial d'Internacionalització, Facultat d'Economia i Empresa, Universitat de Barcelona, Curs: 2013-2014, Tutor: Jose Maria Castan FarreroEs una realidad el creciente interés de numerosos países y ciudades “destinos” en atraer más turistas chinos, sobre todo, aquel perfil más “consumista” que aporta importantes beneficios económicos durante su estancia. El turista chino ya ha dejado de ser una más de las tantísimas alternativas a tener en consideración para los destinos turísticos a la hora de plantear sus estratégicas, sino que ha pasado a ser una realidad que promete competitividad y sobre todo una rentabilidad económica increíblemente atractiva (de momento a corto plazo). En menos de 10 años, saldrán de China 100 millones de turistas al año, según la Organización Mundial de Turismo, lo que convertiría a China en el mercado emisor más importante del mundo y presumiblemente centro de enfoque de promoción turística de todos los destinos turísticos; y parece indudable que Barcelona, por las políticas e iniciativas que ya ha emprendido, ha de subirse también a este tren

The Role of Perceived Control in Customer Value Cocreation and Service Recovery Evaluation

Treating customers as passive recipients of service recovery does not account for their naturally elevated desire for control following a service failure. Focusing on value cocreation by customers in service recovery, this study conceptualizes three types of customer perceived control in service recovery: process control, decision control, and information control. Using both a field study and a controlled experiment to test the conceptual model, this study reveals various ways service firms can engage customers in service recovery to enhance their service experience. The results show that customers are motivated to exert influence on and regain control over service recovery because they care not only about the economic gains rendered by control but also about their social self-esteem in their relationship with a service firm. An investigation of the interaction effects among the three types of control reveals either complementary or substitution effects between different pairings of the three types of control on customers\u27 justice evaluations of service recovery and repurchase intentions. The findings provide managers with new guidance on developing and implementing successful service recovery programs

Optical absorption spectra of Fe2+ and Fe3+ in garnets

The optical absorption spectrum of andradite from Xinjiang, China has been measured in the visible and near ultraviolet regions and a crystal field calculation including a trigonal potential has been made to account for the observed spectrum. Good results have been obtained with a choice of Dσ = 5/3, Dτ = — 320 cm⁻¹. The calculated energy separation between the ⁴A₁(G) and ⁴E(G) states (220 cm⁻¹) is in close agreement with that determined from the spectral data (260 cm⁻¹). In order to interpret the spin-allowed bands of Fe²⁺ on the 8-fold site in pyrope, a point-charge model calculation has been made. The order of the energy levels obtained by this model is the same as that obtained by a superposition model (Newman et al., 1978).On a mesuré le spectre d'absorption optique de l'andradite de Xinjiang, Chine, dans le visible et le proche UV et on a réalisé un calcul de champ cristallin incluant un potentiel trigonal pour interpréter le spectre observé. On a obtenu de bons résultats avec Dσ = 5/3 et Dτ = — 320 cm⁻¹. L'écart d'énergie calculé entre les états ⁴A₁(G) et ⁴E(G) (220 cm⁻¹) est en bon accord avec celui déduit des données spectrales (260 cm⁻¹). Afin d'interpréter les bandes de spin permises de Fe²⁺ sur les sites octaédriques du pyrope, on a effectué un calcul du modèle de charge ponctuelle. L'ordre des niveaux d'énergie obtenu par ce modèle est le même que celui obtenu par un modèle de superposition (Newman et al., 1978).Lin Chuanyi. Optical absorption spectra of Fe2+ and Fe3+ in garnets. In: Bulletin de Minéralogie, volume 104, 2-3, 1981. 12e assemblée générale de l'I.M.A. - Orléans – Juillet 1980. Première partie : croissance cristalline / Physique des minéraux / Microscopie électronique

Storability on Modeling Commodity Futures Prices

Econometric models of commodity prices have been estimated for more than 80 years, but both structural and time series models require ad hoc assumptions to capture all the features of commodity price series. Commodities can be broadly divided into two categories: storable and non-storable. The purpose of this study is to investigate the effects of storability on commodity futures pricing, especially whether meats can be reasonably approximated by storable commodity term structure models. From the empirical analysis of seven commodity futures prices, the two-factor Schwartz model is found to perform well for less storable commodities

A Term Structure Model for Commodity Prices: Does Storability Matter?

Econometric models of commodity prices have been estimated for more than 80 years, but both structural and time series models require ad hoc assumptions to capture all the features of commodity price series. Commodities can be broadly divided into two categories: storable and non-storable. The purpose of this study is to investigate the effects of storability on commodity futures pricing, especially whether meats can be reasonably approximated by storable commodity term structure models. From the empirical analysis of seven commodity futures prices, the two-factor Schwartz model is found to perform well for less storable commodities

Understanding the psychological process underlying customer satisfaction and retention in a relational service

This paper reexamines the psychological process underlying the relationship between customer satisfaction and customer retention in a relational service context. It is based on a composite model of the attitude-behavior relation, which takes both attitude toward target and attitude toward behavior into account. Data were collected from a survey with a sample of 209 clients from a major credit counseling organization in the USA. Account data indicating those clients\u27 actual retention behavior were matched with the survey data. A two-step structural equation modeling (SEM) procedure was employed to establish the construct validity and test the hypotheses. The results revealed that the effect of customer satisfaction on retention is mediated by the more proximal determinants of the actual retention behavior. Specifically, customer satisfaction has both direct and indirect effects on customers\u27 attitudes toward remaining in the Debt Management Program (DMP), which is the proximal predictor of customer retention. In addition, satisfaction alone cannot guarantee customer retention. Customers\u27 perceived behavioral control exerts direct effects on their intention to remain and retention. © 2008 Elsevier Inc. All rights reserved