Assessing the Number of Components in Mixture Models: a Review.

Despite the widespread application of finite mixture models, the decision of how many classes are required to adequately represent the data is, according to many authors, an important, but unsolved issue. This work aims to review, describe and organize the available approaches designed to help the selection of the adequate number of mixture components (including Monte Carlo test procedures, information criteria and classification-based criteria); we also provide some published simulation results about their relative performance, with the purpose of identifying the scenarios where each criterion is more effective (adequate).Finite mixture; number of mixture components; information criteria; simulation studies.

Examining the segment retention problem for the “Group Satellite” case

The purpose of this work is to determine how well, criteria designed to help the selection of the adequate number of market segments, perform in recovering small niche segments, in mixture regressions of normal data, with experimental data. The simulation experiment compares several segment retention criteria, including information criteria and classification-based criteria. We also address the impact of distributional misspecification on segment retention criteria success rates. This study shows that Akaike’s Information criterion with penalty factors of 3 and 4, rather than the traditional value of 2, are the best segment retention criteria to use in recovering small niche segments. Although these criteria were designed for the specific context of mixture models, they are rarely applied in the marketing literature.Information criteria; Latent Class Segmentation.

Comparing alternative instruments to measure service quality in higher education

The purpose of this work is to examine the performance of five alternative measures of service quality in the high education sector – SERVQUAL (Service Quality), Importance-weighted SERVQUAL, SERVPERF (Service Performance), Importance-weighted SERVPERF and HedPERF (Higher Education Performance). We aim at determining which instrument has the superior measurement capability. Data were collected by means of a structured questionnaire containing perception items enhanced from the SERVPERF and HEdPERF scales and expectation items from the SERVQUAL scale, both modified to fit into the higher education sector. The first draft of the questionnaire was subject to a pilot testing through a focus group and an expert evaluation. Data were gathered from a 360 students’ sample of a Portuguese university in Lisbon. Scales were compared in terms of unidimensionality, reliability, validity and explained variance. Managerial conclusions were also drawn.service quality scales; higher education; reliability

Comparing Airport regulation in Europe: Is there need for a European Regulator?

This paper provides an overview of how the major airports are regulated in Europe. In order to eliminate the potential of airports to exercise market power and protect the public interest, it has become increasingly necessary to set a common regulatory framework. We intend to discuss the need of a single regulator in Europe to monitor or establish the quality of service and the charges practiced by the airports, to ensure cost-relatedness, transparency and non-discrimination. The existing regulatory approaches regarding aeronautical charges and their economic implications are also analyzed. We propose the creation of a European Observatory for this sector.airports, economic regulation, European Observatory

Democracy and Economic Development: a Fuzzy Classification Approach

The aim of this work is to (1) analyse whether countries differ on political indicators (democracy, rule of law, government effectiveness and corruption) and (2) study whether countries with different political profiles are associated with different levels of economic, human development and gender-related development indicators. Using a fuzzy classification approach (fuzzy k-means algorithm), we propose a typology of 124 countries based on 10 political variables. Six segments are identified; these political groups implicate the access to different levels of economic and human development. In this study evidence of a positive but not perfect relationship between democracy and economic and human development is observed, thus presenting new insights for the understanding of the heterogeneity of behaviors relatively to political indicators.Democracy, Economic Development, Fuzzy k-means

The ‘de-territorialisation of closeness’ - a typology of international successful R&D projects involving cultural and geographic proximity

Although there is a considerable amount of empirical evidence on inter-firm collaborations within technology-based industries, there are only a few works concerned with R&D cooperation by low-tech firms, especially SMEs. Providing further and new evidence based on a recently built database of CRAFT projects, this study analyzes the relationship between technology and proximity in international R&D networks using Homogeneity Analysis by Means of Alternating Least Squares (HOMALS) and statistical cluster techniques. The resulting typology of international cooperative R&D projects highlights that successful international cooperative R&D projects are both culturally/geographically closer and distant. Moreover, and quite interestingly, geographically distant projects are technologically more advanced whereas those located near each other are essentially low tech. Such evidence is likely to reflect the tacit-codified knowledge debate boosted recently by the ICT “revolution” emphasized by the prophets of the “Death of Distance” and the “End of Geography”.Research and Development (R&D); proximity; SMEs

Savings and financial literacy: a brief review of selected literature

This paper presents a systematic review of the literature on financial literacy and savings. A total of 183 articles published between 2005 and 2019 were analysed. The review relied on hybrid methods, namely, descriptive, semantic network and narrative analyses. The lexical analysis of the articles’ abstracts identified 11 themes: financial literacy, financial literacy measurement, correlates, savings, savings type, financial education, target group, theories, personal finance, financial preparation and financial inclusion. The findings include avenues for future research

Savings and financial literacy: a review of selected literature

This paper presents a systematic review of the literature on financial literacy and savings. A total of 183 articles published between 2005 and 2019 were analyzed. The review relied on hybrid methods, namely, descriptive, semantic network and narrative analyses. The lexical analysis of the articles’ abstracts identified 11 themes: financial literacy, financial literacy measurement, correlates, savings, savings type, financial education, target group, theories, personal finance, financial preparation and financial inclusion. The findings include avenues for future research

a comparative study of the US and the UK

Rita, P., Brochado, A., & Dimova, L. (2019). Millennials’ travel motivations and desired activities within destinations: a comparative study of the US and the UK. Current Issues in Tourism, 22(16), 2034-2050. https://doi.org/10.1080/13683500.2018.1439902Millennials are one of the largest groups to be targeted by tourism companies. This paper compares the travel motivations of Millennials from both the United States and the United Kingdom by ratings, rankings and perceptual structures of both push and pull factors. This exploratory study used a questionnaire to examine the inner motivations (e.g. push factors) and preferred destination activities (e.g. pull factors) of American and British Millennials (n = 322). Data analysis included the non-parametric Mann–Whitney U test, Kendall’s coefficient of concordance, an alternating least-squares algorithm (ALSCAL) model and ordinal regression. The results reveal that American and British Millennials are quite homogeneous in their push travel motivations and destination activity preferences. The most important motivational factors for both are ‘to relax’ and ‘to escape from the ordinary’. Both nationalities also agree that the most attractive destination activities are ‘to try local food’ and ‘to go sightseeing’. The findings indicate that the US and UK samples are similar and that there is room for segmentation according to demographics.authorsversionpublishe