An Application of the Local Influence Diagnostics to Ridge Regression Under Elliptical Model

In this article, we study the effect of a minor perturbation on the ridge estimator considering the elliptical distribution for the errors. The necessary matrices for assessing the local influence under the perturbation of the explanatory variables and the scale matrix are derived. The Longley data is analyzed for illustration.     

Dynamic Marketing Capabilities: Toward an Integrative Framework

In recent years, the dynamic capabilities view has attracted attention in the management literature, and theoretical papers note many research challenges. Currently, one of the most significant issues is the role of the marketing function in the development of dynamic capabilities, and some recent discussions have even introduced the new term ‘dynamic marketing capabilities’. The main area of interest is how to achieve a well‐integrated framework to serve as the starting point for empirical papers. Although the most recent research proposes a wide range of processes as possible dynamic marketing capabilities, it is difficult to find consensus among these proposals. To resolve this difficulty, this paper seeks to define the dynamic marketing capabilities construct based on accepted components in the generic dynamic capabilities view. More specifically, it defines the role of dynamic marketing capabilities through absorptive capacity and knowledge management. By identifying these components and relating them in an integrative model, the authors propose to explain how dynamic marketing capabilities work and precisely which marketing processes promote both components.     

Introduccion

Resumen

El miedo, como una de las consecuencias de la situación sociopolítica de Argentina en los últimos años, ha afectado, y sigue afectando, a la mayor parte de los miembros de esa sociedad, presentando características diferentes según el periodo considerado, es decir, dictadura, transición a la democracia o gobierno democrático concreto. Se discuten sus implicaciones para la sociedad y se sugieren algunas formas de afrontarlo.     

Modeling Sequential Information Acquisition Behavior in Rational Decision Making

Most real‐life decisions are made with less than perfect information and there is often some opportunity to acquire additional information to increase the quality of the decision. In this article, we define and study the sequential information acquisition process of a rational decision maker (DM) when allowed to acquire any finite amount of information from a set of products defined by vectors of characteristics. The information acquisition process of the DM depends both on the values of the characteristics observed previously and the number and potential realizations of the remaining characteristics. Each time an observation is acquired, the DM modifies the probability of improving upon the products already observed with the number of observations available. We construct two real‐valued functions whose crossing points determine the decision of how to allocate each available piece of information. We provide several numerical simulations to illustrate the information acquisition incentives defining the behavior of the DM. Applications to knowledge management and decision support systems follow immediately from our results, particularly when considering the introduction and acceptance of new technological products and when formalizing online search environments.     

On beta regression residuals

We propose two new residuals for the class of beta regression models, and numerically evaluate their behaviour relative to the residuals proposed by Ferrari and Cribari-Neto. Monte Carlo simulation results and empirical applications using real and simulated data are provided. The results favour one of the residuals we propose.     

Professionalizing youth development: the role of higher education

Certificates, credentials, and degrees offered through institutions of higher education allow youth development professionals to acquire educational experiences that are recognized in a formal manner.     

On the most imbalanced orientation of a graph

We study the problem of orienting the edges of a graph such that the minimum over all the vertices of the absolute difference between the outdegree and the indegree of a vertex is maximized. We call this minimum the imbalance of the orientation, i.e. the higher it gets, the more imbalanced the orientation is. The studied problem is denoted by \({{\mathrm{\textsc {MaxIm}}}}\). We first characterize graphs for which the optimal objective value of \({{\mathrm{\textsc {MaxIm}}}}\) is zero. Next we show that \({{\mathrm{\textsc {MaxIm}}}}\) is generally NP-hard and cannot be approximated within a ratio of \(\frac{1}{2}+\varepsilon \) for any constant \(\varepsilon >0\) in polynomial time unless \(\texttt {P}=\texttt {NP}\) even if the minimum degree of the graph \(\delta \) equals 2. Then we describe a polynomial-time approximation algorithm whose ratio is almost equal to \(\frac{1}{2}\). An exact polynomial-time algorithm is also derived for cacti. Finally, two mixed integer linear programming formulations are presented. Several valid inequalities are exhibited with the related separation algorithms. The performance of the strengthened formulations is assessed through several numerical experiments.     

Housing Valuation,Wealth Perception,and Homeowners’ Portfolio Composition

This study explores the link between wealth perception from an appreciation of the residential property price and homeowners’ preference toward asset categories pooled by risk. Household survey data for Portugal were used to build shares of low, medium, and high risk assets representing fractions of household’s total wealth. Data showed incomplete household portfolios along with housing capturing the largest share of households’ wealth, in line with the literature on composition puzzles. The findings indicate robust empirical evidence that the rate of housing valuation is an indicator of households’ wealth perception. When the housing price appreciates with respect to its initial cost, households suffer an endowment effect and tend to increase diversity in their portfolio, expanding the holdings of safe deposits as they raise the share of high risk assets.