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Online reviews serve as valuable sources of information, reflecting tourists’ attentions, preferences and sentiments. However, although the existing research has demonstrated that incorporating online review data can enhance the performance of tourism demand forecasting models, the reliability of online review data and consumers’ decision-making process have not been given adequate attention. To address the aforementioned problem, the purpose of this study is to forecast tourism demand using online review data derived from the analysis of review helpfulness.

The authors propose a novel “identification-first, forecasting-second” framework. This framework prioritizes the identification of helpful reviews through a comprehensive analysis of review helpfulness, followed by the integration of helpful online review data into the forecasting system. Using the SARIMAX model with helpful online review data sourced from TripAdvisor, this study forecasts tourist arrivals in Hong Kong during the period from August 2012 to June 2019. The SNAÏVE/SARIMA model was used as the benchmark model. Additionally, artificial intelligence models including long short-term memory, back propagation neural network, extreme learning machine and random forest models were used to assess the robustness of the results.

The results demonstrate that online review data are subject to noise and bias, which can adversely affect the accuracy of predictions when used directly. However, by identifying helpful online reviews beforehand and incorporating them into the forecasting process, a notable enhancement in predictive performance can be realized.

First, to the best of the authors’ knowledge, this study is one of the first to focus on the data issue of online reviews on tourism arrivals forecasting. Second, this study pioneers the integration of the consumer decision-making process into the domain of tourism demand forecasting, marking one of the earliest endeavors in this area. Third, this study makes a novel attempt to identify helpful online reviews based on reviews helpfulness analysis.

The authors propose to estimate a varying coefficient panel data model with different smoothing variables and fixed effects using a two-step approach. The pilot step estimates the varying coefficients by a series method. We then use the pilot estimates to perform a one-step backfitting through local linear kernel smoothing, which is shown to be oracle efficient in the sense of being asymptotically equivalent to the estimate knowing the other components of the varying coefficients. In both steps, the authors remove the fixed effects through properly constructed weights. The authors obtain the asymptotic properties of both the pilot and efficient estimators. The Monte Carlo simulations show that the proposed estimator performs well. The authors illustrate their applicability by estimating a varying coefficient production frontier using a panel data, without assuming distributions of the efficiency and error terms.

The purpose of the present article is to obtain the similarity solution for the shock wave generated by a piston propagating in a self-gravitating nonideal gas under the impact of azimuthal magnetic field for adiabatic and isothermal flows.

The Lie group theoretic method given by Sophus Lie is used to obtain the similarity solution in the present article.

Similarity solution with exponential law shock path is obtained for both ideal and nonideal gas cases. The effects on the flow variables, density ratio at the shock front and shock strength by the variation of the shock Cowling number, adiabatic index of the gas, gravitational parameter and nonidealness parameter are investigated. The shock strength decreases with an increase in the shock Cowling number, nonidealness parameter and adiabatic index, whereas the strength of the shock wave increases with an increase in gravitational parameter.

Propagation of shock wave with spherical geometry in a self-gravitating nonideal gas under the impact of azimuthal magnetic field for adiabatic and isothermal flows has not been studied by any author using the Lie group theoretic method.

This study aims to propose a consensus model that considers dynamic trust and the hesitation degree of the expert's evaluation, and the model can provide personalized adjustment advice to inconsistent experts.

The trust degree between experts will be affected by the decision-making environment or the behavior of other experts. Therefore, based on the psychological “similarity-attraction paradigm”, an adjustment method for the trust degree between experts is proposed. In addition, we proposed a method to measure the hesitation degree of the expert's evaluation under the multi-granular probabilistic linguistic environment. Based on the hesitation degree of evaluation and trust degree, a method for determining the importance degree of experts is proposed. In the feedback mechanism, we presented a personalized adjustment mechanism that can provide the personalized adjustment advice for inconsistent experts. The personalized adjustment advice is accepted readily by inconsistent experts and ensures that the collective consensus degree will increase after the adjustment.

The results show that the consensus model in this paper can solve the social network group decision-making problem, in which the trust degree among experts is dynamic changing. An illustrative example demonstrates the feasibility of the proposed model in this paper. Simulation experiments have confirmed the effectiveness of the model in promoting consensus.

The authors presented a novel dynamic trust consensus model based on the expert's hesitation degree and a personalized adjustment mechanism under the multi-granular probabilistic linguistic environment. The model can solve a variety of social network group decision-making problems.

We present an approach for pricing American put options with a regime-switching volatility. Our method reveals that the option price can be expressed as the sum of two components: the price of a European put option and the premium associated with the early exercise privilege. Our analysis demonstrates that, under these conditions, the perpetual put option consistently commands a higher price during periods of high volatility compared to those of low volatility. Moreover, we establish that the optimal exercise boundary is lower in high-volatility regimes than in low-volatility regimes. Additionally, we develop an analytical framework to describe American puts with an Erlang-distributed random-time horizon, which allows us to propose a numerical technique for approximating the value of American puts with finite expiry. We also show that a combined approach involving randomization and Richardson extrapolation can be a robust numerical algorithm for estimating American put prices with finite expiry.

In this paper we talk about complex matrix quaternions (biquaternions) and we deal with some abstract methods in mathematical complex matrix analysis.

We introduce and investigate the complex space HC consisting of all 2 × 2 complex matrices of the form ξ=z1+iw1z2+iw2−z‾2−iw‾2z‾1+iw‾1, (z1,w1,z2,w2)∈C4.

We develop on HC a new matrix holomorphic structure for which we provide the fundamental operational calculus properties.

We give sufficient and necessary conditions in terms of Cauchy–Riemann type quaternionic differential equations for holomorphicity of a function of one complex matrix variable ξ∈HC. In particular, we show that we have a lot of holomorphic functions of one matrix quaternion variable.

The purpose of this paper is to exploit the multiple-Toeplitz matrices reconstruction method combined with quadratic spatial smoothing processing to improve the direction-of-arrival (DOA) estimation performance of coherent signals at low signal-to-noise ratio (SNRs).

An improved multiple-Toeplitz matrices reconstruction method is proposed via quadratic spatial smoothing processing. Our proposed method takes advantage of the available information contained in the auto-covariance matrices of individual Toeplitz matrices and the cross-covariance matrices of different Toeplitz matrices, which results in a higher noise suppression ability.

Theoretical analysis and simulation results show that, compared with the existing Toeplitz matrix processing methods, the proposed method improves the DOA estimation performance in cases with a low SNR. Especially for the cases with a low SNR and small snapshot number as well as with closely spaced sources, the proposed method can achieve much better performance on estimation accuracy and resolution probability.

The study investigates the possibility of reusing pre-existing designs for the DOA estimation of the coherent signals. The proposed technique enables achieve good estimation performance at low SNRs.

The paper includes implications for the DOA problem at low SNRs in communication systems.

The proposed method proved to be useful for the DOA estimation at low SNR.

The purpose of this study is to model the theory of the low-velocity impact (LVI) process on sandwich beams consisting of flexible cores and face sheets reinforced with functionally graded carbon nanotubes (CNTs).

A series of parameters derived from molecular dynamics are used to consider the size scale in the mixture rule for the combination of CNTs and resin. A procedure involving the use of the first-order shear deformation theory of the beam is used to provide the displacement field of the sandwich beam. The energy method and subsequently the generalized Lagrange method are used to derive the motion equations. Due to the use of Hertz’s nonlinear theory to calculate the contact force, the equations of motion are nonlinear. Validation of the problem is carried out by comparing natural frequencies with other papers.

The influence of a series of parameters such as CNTs distributions pattern in the face sheets, the influence of the CNTs volume fraction and the influence of the core thickness to the face sheets thickness ratio in the issue of LVI on sandwich beams with clamped-clamped boundary conditions is investigated. The result shows that the type of CNTs pattern in the face sheet and the CNTs volume fraction have a very important effect on the answer to the problem, which is caused by the change in the value of the Young’s modulus of the beam at the contact surface. Changes in the core thickness to the face sheets thickness ratio has little effect on the impact response.

Considering the important application of sandwich structures in vehicles, aviation and ships, in this research, sandwich beams consisting of flexible core and CNTs-reinforced face sheets are investigated under LVI.

Motivated by empirical features that characterize cryptocurrency volatility data, the authors develop a forecasting strategy that can account for both model uncertainty and heteroskedasticity of unknown form. The theoretical investigation establishes the asymptotic optimality of the proposed heteroskedastic model averaging heterogeneous autoregressive (H-MAHAR) estimator under mild conditions. The authors additionally examine the convergence rate of the estimated weights of the proposed H-MAHAR estimator. This analysis sheds new light on the asymptotic properties of the least squares model averaging estimator under alternative complicated data generating processes (DGPs). To examine the performance of the H-MAHAR estimator, the authors conduct an out-of-sample forecasting application involving 22 different cryptocurrency assets. The results emphasize the importance of accounting for both model uncertainty and heteroskedasticity in practice.

In this chapter, we consider the possibility that a firm may use costly resources to improve its technical efficiency. Results from static analyses imply that technical efficiency is determined by the configuration of factor prices. A dynamic model of the firm is developed under the assumption that managerial skill contributes to technical efficiency. Dynamic analysis shows that the firm can never be technically efficient if it maximizes profits, the steady state is always inefficient, and it is locally stable. In terms of empirical analysis, we show how likelihood-based methods can be used to uncover, in a semi-non-parametric manner, important features of the inefficiency-management relationship using a flexible functional form accounting for the endogeneity of inputs in a production function. Managerial compensation can also be identified and estimated using the new techniques. The new empirical methodology is applied in a data set previously analyzed by Bloom and van Reenen (2007) on managerial practices of manufacturing firms in the UK, US, France and Germany.