The Impact of an Old Fleet on the Demand for Air Transportation: The Case of VASP Brazilian Airlines

In 05/25/1982, the VASP aircraft broke in two after a hard landing killing 2 people. The pilot's misuse of rain repellant, caused an optical illusion leading to the hard landing. Since that day, VASP started to have constant problems. A brief history about VASP is discussed. After so many problems, VASP lost its market share and became the 4th airline of Brazil, VASP used to be second place. With financial problems, VASP could not buy new airplanes and its fleet was from the 70-80s. This paper aims to study if an old fleet could affect the demand for air transportation.Air Transportation, Airline, Demand, VASP, GOL, Brazil

An experimental test of loss aversion and scale compatibility

This paper studies two important reasons why people violate procedure invariance, loss aversion and scale compatibility. The paper extends previous research on loss aversion and scale compatibility by studying loss aversion and scale compatibility simultaneously, by looking at a new decision domain, medical decision analysis, and by examining the effect of loss aversion and scale compatibility on "well-contemplated preferences." We find significant evidence both of loss aversion and scale compatibility. However, the sizes of the biases due to loss aversion and scale compatibility vary over trade-offs and most participants do not behave consistently according to loss aversion or scale compatibility. In particular, the effect of loss aversion in medical trade-offs decreases with duration. These findings are encouraging for utility measurement and prescriptive decision analysis. There appear to exist decision contexts in which the effects of loss aversion and scale compatibility can be minimized and utilities can be measured that do not suffer from these distorting factors.Decision analysis, utility theory, loss aversion, scale compatibility, health

World Equity Markets: A New Approach for Segmentation (in English)

This paper is an assessment of international equity-market integration and uses an innovative approach to segment equity markets into related geographic areas. The authors´ focus is on the relationships among the returns of the dominant national equity indexes by continent. To understand how these indexes have evolved, the authors will concentrate on a reduced number of dimensions extracted from principal components analysis. They will demonstrate that each one of these components is particularly associated with certain groups of nations and less associated with others.interaction, principal components analysis, returns

Business Model Generation: A handbook for visionaries, game changers and challengers

The book entitled “Business Model Generation: A Handbook for visionaries, game changers and challengers” though written by Osterwalder and Pigneur (2010) was also co-created by 470 practitioners from 45 countries. The book is thus a good example of how a global creative collaboration effort can contribute positively to the business and management literature and subsequently to the advancement of society. The book "Business Model Generation" has both narrative and visual detail. Before proceeding to do an in-depth review of “Business Model Generation” we first looked at other publications by the authors which led up to the book

A consistency test of the time trade-off

This paper tests the internal consistency of time trade-off utilities. We find significant violations of consistency in the direction predicted by loss aversion. The violations disappear for higher gauge durations. We show that loss aversion can also explain that for short gauge durations time trade-off utilities exceed standard gamble utilities. Our results suggest that time trade-off measurements that use relatively short gauge durations, like the widely used EuroQol algorithm (Dolan 1997), are affected by loss aversion and lead to utilities that are too high.Cost-Utility Analysis, Time Trade-Off, Loss Aversion

Producing innovation: Comments on Lee and Yu (2010)

The purpose of the article being reviewed (Lee and Yu, 2010), a survey by questionnaire with 182 valid responses, is to analyze “how different relationship styles of employees in the hi-tech industry influence innovation performance” and indeed its conclusions are that “the relationship style of an organization has a significant positive effect on innovation performance”. We see Lee and Yu (2010) as being similar to another highly cited article by Morgan and Hunt in so far as both articles are about relationships, cooperation and trust