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Article
Publication date: 19 April 2023

Shanaka Herath, Vince Mangioni, Song Shi and Xin Janet Ge

House price fluctuations send vital signals to many parts of the economy, and long-term predictions of house prices are of great interest to governments and property developers…

Abstract

Purpose

House price fluctuations send vital signals to many parts of the economy, and long-term predictions of house prices are of great interest to governments and property developers. Although predictive models based on economic fundamentals are widely used, the common requirement for such studies is that underlying data are stationary. This paper aims to demonstrate the usefulness of alternative filtering methods for forecasting house prices.

Design/methodology/approach

We specifically focus on exponential smoothing with trend adjustment and multiplicative decomposition using median house prices for Sydney from Q3 1994 to Q1 2017. The model performance is evaluated using out-of-sample forecasting techniques and a robustness check against secondary data sources.

Findings

Multiplicative decomposition outperforms exponential smoothing at forecasting accuracy. The superior decomposition model suggests that seasonal and cyclical components provide important additional information for predicting house prices. The forecasts for 2017–2028 suggest that prices will slowly increase, going past 2016 levels by 2020 in the apartment market and by 2022/2023 in the detached housing market.

Research limitations/implications

We demonstrate that filtering models are simple (univariate models that only require historical house prices), easy to implement (with no condition of stationarity) and widely used in financial trading, sports betting and other fields where producing accurate forecasts is more important than explaining the drivers of change. The paper puts forward a case for the inclusion of filtering models within the forecasting toolkit as a useful reference point for comparing forecasts from alternative models.

Originality/value

To the best of the authors’ knowledge, this paper undertakes the first systematic comparison of two filtering models for the Sydney housing market.

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 5
Type: Research Article
ISSN: 1753-8270

Keywords

Content available
Article
Publication date: 13 August 2024

Richard Reed

Abstract

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 5
Type: Research Article
ISSN: 1753-8270

Article
Publication date: 19 July 2023

Rafael Teixeira, Jorge Junio Moreira Antunes, Peter Wanke, Henrique Luiz Correa and Yong Tan

This paper aims to measure and unveil the relationship between customer satisfaction and efficiency levels in the most relevant Brazilian airports.

Abstract

Purpose

This paper aims to measure and unveil the relationship between customer satisfaction and efficiency levels in the most relevant Brazilian airports.

Design/methodology/approach

The authors utilize a two-stage network DEA (data envelopment analysis) and AHP (analytic hierarchy process) model as the cornerstones of the study. The first stage of the network productive structure focuses on examining the infrastructure efficiency of the selected airports, while the second stage assesses their business efficiency.

Findings

Although the results indicate that infrastructure and business efficiency levels are heterogeneous and widely dispersed across airports, controlling the regression results with different contextual variables suggests that the impact of efficiency levels on customer satisfaction is mediated by a set of socio-economic and demographic (endogenous) and regulatory (exogenous) variables. Furthermore, encouraging investment in airports is necessary to achieve higher infrastructural efficiency and scale efficiency, thereby improving customer satisfaction.

Originality/value

There is a scarcity of studies examining the relationships among customer satisfaction, privatization and airport efficiency, particularly in developing countries like Brazil.

Details

Benchmarking: An International Journal, vol. 31 no. 7
Type: Research Article
ISSN: 1463-5771

Keywords

Article
Publication date: 10 July 2024

Takeki Yamamoto, Takahiro Yamada and Kazumi Matsui

The purpose of this study is to present the effectiveness and robustness of a numerical algorithm based on the block Newton method for the nonlinear kinematic hardening rules…

Abstract

Purpose

The purpose of this study is to present the effectiveness and robustness of a numerical algorithm based on the block Newton method for the nonlinear kinematic hardening rules adopted in modeling ductile materials.

Design/methodology/approach

Elastoplastic problems can be defined as a coupled problem of the equilibrium equation for the overall structure and the yield equations for the stress state at every material point. When applying the Newton method to the coupled residual equations, the displacement field and the internal variables, which represent the plastic deformation, are updated simultaneously.

Findings

The presented numerical scheme leads to an explicit form of the hardening behavior, which includes the evolution of the equivalent plastic strain and the back stress, with the internal variables. The features of the present approach allow the displacement field and the hardening behavior to be updated straightforwardly. Thus, the scheme does not have any local iterative calculations and enables us to simultaneously decrease the residuals in the coupled boundary value problems.

Originality/value

A pseudo-stress for the local residual and an algebraically derived consistent tangent are applied to elastic-plastic boundary value problems with nonlinear kinematic hardening. The numerical procedure incorporating the block Newton method ensures a quadratic rate of asymptotic convergence of a computationally efficient solution scheme. The proposed algorithm provides an efficient and robust computation in the elastoplastic analysis of ductile materials. Numerical examples under elaborate loading conditions demonstrate the effectiveness and robustness of the numerical scheme implemented in the finite element analysis.

Details

Engineering Computations, vol. 41 no. 6
Type: Research Article
ISSN: 0264-4401

Keywords

Article
Publication date: 22 August 2024

Zhenshuang Wang, Tingyu Hu, Jingkuang Liu, Bo Xia and Nicholas Chileshe

The sensitivity and fragility of the construction industry’s economic system make the economic resilience of the construction industry (ERCI) a key concern for stakeholders and…

Abstract

Purpose

The sensitivity and fragility of the construction industry’s economic system make the economic resilience of the construction industry (ERCI) a key concern for stakeholders and decision-makers. This study aims to measure the ERCI, identify the heterogeneity and spatial differences in ERCI, and provide scientific guidance and improvement paths for the industry. It provides a foundation for the implementation of resilience policies in the construction industry of developing countries in the future.

Design/methodology/approach

The comprehensive index method, Theil index method, standard deviation ellipse method and geographic detector model are used to investigate the spatial differences, spatiotemporal evolution characteristics and the influencing factors of the ERCI from 2005 to 2020 in China.

Findings

The ERCI was “high in the east and low in the west”, and Jiangsu has the highest value with 0.64. The Theil index of ERCI shows a wave downward pattern, with significant spatial heterogeneity. The overall difference in ERCI is mainly caused by regional differences, with the contribution rates being higher by more than 70%. Besides, the difference between different regions is increasing. The ERCI was centered in Henan Province, showing a clustering trend in the “northeast-southwest” direction, with weakened spatial polarization and a shrinking distribution range. The market size, input level of construction industry factors, industrial scale and economic scale are the main factors influencing economic resilience. The interaction between each influencing factor exhibits an enhanced relationship, including non-linear enhancement and dual-factor enhancement, with no weakening or independent relationship.

Practical implications

Exploring the spatial differences and driving factors of the ERCI in China, which can provide crucial insights and references for stakeholders, authorities and decision-makers in similar construction economic growth leading to the economic growth of the national economy context areas and countries.

Originality/value

The construction industry development is the main engine for the national economy growth of most developing countries. This study establishes a comprehensive evaluation index on the resilience measurement and analyzes the spatial effects, regional heterogeneity and driving factors on ERCI in the largest developing country from a dynamic perspective. Moreover, it explores the multi-factor interaction mechanism in the formation process of ERCI, provides a theoretical basis and empirical support for promoting the healthy development of the construction industry economy and optimizes ways to enhance and improve the level of ERCI.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 20 November 2023

Thorsten Teichert, Christian González-Martel, Juan M. Hernández and Nadja Schweiggart

This study aims to explore the use of time series analyses to examine changes in travelers’ preferences in accommodation features by disentangling seasonal, trend and the COVID-19…

Abstract

Purpose

This study aims to explore the use of time series analyses to examine changes in travelers’ preferences in accommodation features by disentangling seasonal, trend and the COVID-19 pandemic’s once-off disruptive effects.

Design/methodology/approach

Longitudinal data are retrieved by online traveler reviews (n = 519,200) from the Canary Islands, Spain, over a period of seven years (2015 to 2022). A time series analysis decomposes the seasonal, trend and disruptive effects of six prominent accommodation features (view, terrace, pool, shop, location and room).

Findings

Single accommodation features reveal different seasonal patterns. Trend analyses indicate long-term trend effects and short-term disruption effects caused by Covid-19. In contrast, no long-term effect of the pandemic was found.

Practical implications

The findings stress the need to address seasonality at the single accommodation feature level. Beyond targeting specific features at different guest groups, new approaches could allow dynamic price optimization. Real-time insight can be used for the targeted marketing of platform providers and accommodation owners.

Originality/value

A novel application of a time series perspective reveals trends and seasonal changes in travelers’ accommodation feature preferences. The findings help better address travelers’ needs in P2P offerings.

Details

International Journal of Contemporary Hospitality Management, vol. 36 no. 7
Type: Research Article
ISSN: 0959-6119

Keywords

Article
Publication date: 17 September 2024

Bingzi Jin, Xiaojie Xu and Yun Zhang

Predicting commodity futures trading volumes represents an important matter to policymakers and a wide spectrum of market participants. The purpose of this study is to concentrate…

Abstract

Purpose

Predicting commodity futures trading volumes represents an important matter to policymakers and a wide spectrum of market participants. The purpose of this study is to concentrate on the energy sector and explore the trading volume prediction issue for the thermal coal futures traded in Zhengzhou Commodity Exchange in China with daily data spanning January 2016–December 2020.

Design/methodology/approach

The nonlinear autoregressive neural network is adopted for this purpose and prediction performance is examined based upon a variety of settings over algorithms for model estimations, numbers of hidden neurons and delays and ratios for splitting the trading volume series into training, validation and testing phases.

Findings

A relatively simple model setting is arrived at that leads to predictions of good accuracy and stabilities and maintains small prediction errors up to the 99.273th quantile of the observed trading volume.

Originality/value

The results could, on one hand, serve as standalone technical trading volume predictions. They could, on the other hand, be combined with different (fundamental) prediction results for forming perspectives of trading trends and carrying out policy analysis.

Details

Journal of Modelling in Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-5664

Keywords

Open Access
Article
Publication date: 6 August 2024

Subramanian Visweswaran

The purpose of this paper is to characterize a commutative ring R with identity which is not an integral domain such that ZT(R), the total zero-divisor graph of R is connected and…

Abstract

Purpose

The purpose of this paper is to characterize a commutative ring R with identity which is not an integral domain such that ZT(R), the total zero-divisor graph of R is connected and to determine the diameter and radius of ZT(R) whenever ZT(R) is connected. Also, the purpose is to generalize some of the known results proved by Duric et al. on the total zero-divisor graph of R.

Design/methodology/approach

We use the methods from commutative ring theory on primary decomposition and strong primary decomposition of ideals in commutative rings. The structure of ideals, the primary ideals, the prime ideals, the set of zero-divisors of the finite direct product of commutative rings is used in this paper. The notion of maximal Nagata prime of the zero-ideal of a commutative ring is also used in our discussion.

Findings

For a commutative ring R with identity, ZT(R) is the intersection of the zero-divisor graph of R and the total graph of R induced by the set of all non-zero zero-divisors of R. The zero-divisor graph of R and the total graph of R induced by the set of all non-zero zero-divisors of R are well studied. Hence, we determine necessary and sufficient condition so that ZT(R) agrees with the zero-divisor graph of R (respectively, agrees with the total graph induced by the set of non-zero zero-divisors of R). If Z(R) is an ideal of R, then it is noted that ZT(R) agrees with the zero-divisor graph of R. Hence, we focus on rings R such that Z(R) is not an ideal of R. We are able to characterize R such that ZT(R) is connected under the assumptions that the zero ideal of R admits a strong primary decomposition and Z(R) is not an ideal of R. With the above assumptions, we are able to determine the domination number of ZT(R).

Research limitations/implications

Duric et al. characterized Artinian rings R such that ZT(R) is connected. In this paper, we extend their result to rings R such that the zero ideal of R admits a strong primary decomposition and Z(R) is not an ideal of R. As an Artinian ring is isomorphic to the direct product of a finite number of Artinian local rings, we try to characterize R such that ZT(R) is connected under the assumption that R is ta finite direct product of rings R1, R2, … Rn with Z(Ri) is an ideal of Ri for each i between 1 to n. Their result on domination number of ZT(R) is also generalized in this paper. We provide several examples to illustrate our results proved.

Practical implications

The implication of this paper is that the existing result of Duric et al. is applicable to large class of commutative rings thereby yielding more examples. Moreover, the results proved in this paper make us to understand the structure of commutative rings better. It also helps us to learn the interplay between the ring-theoretic properties and the graph-theoretic properties of the graph associated with it.

Originality/value

The results proved in this paper are original and they provide more insight into the structure of total zero-divisor graph of a commutative ring. This paper provides several examples. Not much work done in the area of total zero-divisor graph of a commutative ring. This paper is a contribution to the area of graphs and rings and may inspire other researchers to study the total zero-divisor graph in further detail.

Details

Arab Journal of Mathematical Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1319-5166

Keywords

Article
Publication date: 10 September 2024

Aqin Hu and Naiming Xie

The purpose of this paper is to explore a new grey relational analysis model to measure the coupling relationship between the indicators for the water environment status…

Abstract

Purpose

The purpose of this paper is to explore a new grey relational analysis model to measure the coupling relationship between the indicators for the water environment status assessment. Meanwhile, the model deals with the problem that the changing of indicator order may result in the changing of the degree of grey relation.

Design/methodology/approach

The binary index submatrix of the sample matrix is given first. Then the product of the matrix and its own transpose is used to measure the characteristics of the index and the coupling relationship between the indicators. Thirdly, the grey relational coefficient is defined based on the matrix norm, and a grey coupling relational analysis model is proposed.

Findings

The paper provides a novel grey relational analysis model based on the norm of matrix. The properties, normalization, symmetry, relational order invariance to the multiplicative, are studied. The paper also shows that the model performs very well on the water environment status assessment in the eight cities along the Yangtze River.

Originality/value

The model in this paper has supplemented and improved the grey relational analysis theory for panel data.

Details

Grey Systems: Theory and Application, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2043-9377

Keywords

Article
Publication date: 26 July 2024

Guilherme Fonseca Gonçalves, Rui Pedro Cardoso Coelho and Igor André Rodrigues Lopes

The purpose of this research is to establish a robust numerical framework for the calibration of macroscopic constitutive parameters, based on the analysis of polycrystalline RVEs…

Abstract

Purpose

The purpose of this research is to establish a robust numerical framework for the calibration of macroscopic constitutive parameters, based on the analysis of polycrystalline RVEs with computational homogenisation.

Design/methodology/approach

This framework is composed of four building-blocks: (1) the multi-scale model, consisting of polycrystalline RVEs, where the grains are modelled with anisotropic crystal plasticity, and computational homogenisation to link the scales, (2) a set of loading cases to generate the reference responses, (3) the von Mises elasto-plastic model to be calibrated, and (4) the optimisation algorithms to solve the inverse identification problem. Several optimisation algorithms are assessed through a reference identification problem. Thereafter, different calibration strategies are tested. The accuracy of the calibrated models is evaluated by comparing their results against an FE2 model and experimental data.

Findings

In the initial tests, the LIPO optimiser performs the best. Good results accuracy is obtained with the calibrated constitutive models. The computing time needed by the FE2 simulations is 5 orders of magnitude larger, compared to the standard macroscopic simulations, demonstrating how this framework is suitable to obtain efficient micro-mechanics-informed constitutive models.

Originality/value

This contribution proposes a numerical framework, based on FE2 and macro-scale single element simulations, where the calibration of constitutive laws is informed by multi-scale analysis. The most efficient combination of optimisation algorithm and definition of the objective function is studied, and the robustness of the proposed approach is demonstrated by validation with both numerical and experimental data.

Details

Engineering Computations, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0264-4401

Keywords

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