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Data-driven market segmentation is heavily used by academic tourism and hospitality researchers to create knowledge and by data analysts in tourism industry to generate market insights. The stability of market segmentation solutions across repeated calculations is a key quality indicator of a segmentation solution. Yet, stability is typically ignored, risking that the segmentation solution arrived at is random. This study aims to offer an overview of market segmentation analysis and propose a new procedure to increase the stability of market segmentation solutions derived from binary data.

The authors propose a new method – based on two independently proposed algorithms – to increase the stability of market segmentation solutions. They demonstrate the superior performance of the new method using empirical data.

The proposed approach uses k-means as base algorithm and combines the variable selection method proposed by Brusco (2004) with the global stability analysis introduced by Dolnicar and Leisch (2010). This new approach increases the stability of segmentation solutions by simultaneously selecting variables and numbers of segments.

The new approach can be adopted immediately by academic researchers and industry data analysts alike to improve the quality of market segmentation solutions derived from empirical tourist data. Higher quality market segmentation solutions translate into competitive advantage and increased business or destination performance.

The proposed approach is newly developed in this study. It helps industry data analysts and academic researchers to reduce the risk of deriving random segmentation solutions by analyzing the data in a systematic way, then selecting the most stable solution using the segmentation variables contributing to this most stable solution only.

This paper aims to test empirically the performance of different models in measuring VaR and ES in the presence of heavy tails in returns using historical data.

Daily returns of popular indices (S&P500, DAX, CAC, Nikkei, TSE, and FTSE) and currencies (US dollar vs Euro, Yen, Pound, and Canadian dollar) for over ten years are modeled with empirical (or historical), Gaussian, Generalized Pareto (peak over threshold (POT) technique of extreme value theory (EVT)) and Stable Paretian distribution (both symmetric and non‐symmetric). Experimentation on different factors that affect modeling, e.g. rolling window size and confidence level, has been conducted.

In estimating VaR, the results show that models that capture rare events can predict risk more accurately than non‐fat‐tailed models. For ES estimation, the historical model (as expected) and POT method are proved to give more accurate estimations. Gaussian model underestimates ES, while Stable Paretian framework overestimates ES.

Research findings are useful to investors and the way they perceive market risk, risk managers and the way they measure risk and calibrate their models, e.g. shortcomings of VaR, and regulators in central banks.

A comparative, thorough empirical study on a number of financial time series (currencies, indices) that aims to reveal the pros and cons of Gaussian versus fat‐tailed models and Stable Paretian versus EVT, in estimating two popular risk measures (VaR and ES), in the presence of extreme events. The effects of model assumptions on different parameters have also been studied in the paper.

This paper mainly focuses on how to induce all members to represent members' true preferences for supply and demand matching of E-commerce platform in order to generate stable matching schemes with more social welfare of Multi-agent Matching Platform (MMP) and individually stable advantages than traditional methods.

An MMP is designed. Meanwhile, a true preference inducing method, Lower-Bid Ranking (LBR), is proposed to reduce the number of false preferences, which is helpful to solve the problem that too much false preferences leads to low efficiency of platform operation and supply and demand matching. Then, a systematic model of LBR-based Stable Matching (SM-LBR) is proposed.

To obtain an ideal transaction partner, the adequate preference ordering and modifying according to market environment is needed for everyone, and the platform should give full play to the platforms' information advantages and process historical transaction and cooperation data. Meanwhile, the appropriate supply and demand matching is beneficial to improve the efficiency and quality of platform operation, and the design of matching guidance mechanism is essential.

The numerical experiments show that, the proposed model (SM-LBR) can induce members to represent the model's true preferences for stable matching and generate effective matchings with more social welfare of MMP and individually stable advantages than traditional methods, which may provide necessary method and model reference for the research of stable matching and E-commerce platform operation.

This article proposes a chattering‐free sliding mode control scheme with unidirectional auxiliary surfaces (UAS‐SMC) for small miniature autonomous helicopters (Trex 250).

The proposed UAS‐SMC scheme consists of a nested sequence of rotor dynamics, angular rate, Euler angle, velocity and position loops.

It is demonstrated that the UAS‐SMC strategy can eliminate the chattering phenomenon exhibiting in the convenient SMC method and achieve a better approaching speed.

The proposed control strategy is implemented on the helicopter and flight tests clearly demonstrate that a much better performance could be achieved, compared with convenient SMC schemes.

This paper aims to examine the management approaches that play a key role for innovation success in a stable and unstable environment.

Tunisia and Japan were chosen as a research sites to assess the accuracy of management approach adopted in each environment. Japan, as a developed, stable and predictable market, involves a traditional/conventional management mode known as administrative control approach (ACA) for successful innovation. However, we argue that a developing country is characterized by its unstable environment and requires an opportunity-based approach (OBA) that lies in the firm’s openness to search and benefit from environmental opportunities.

The paper confirms that OBA improves product innovation success in an unstable environment, for innovation in a stable one.

The paper provides a comprehensive comparison between innovation driven management approaches towards stable and unstable environments through multi-group structural equation modeling.

There is hardly any other field of knowledge where there is more conflict or controversy between ideas and solutions proposed by theoreticians and statesmen than in politics. To date, adequate methodological tools have not been developed which enable the truth or validity of the liberal or conservative approaches to be tested. A new research programme using a simultaneous equilibrium versus disequilibrium approach is proposed which has full application in politics as well as in economics and the social sciences. This research programme shows the organic relationship between society, state, economy, money and form of government, and thus leads to a methodological unification of all the social sciences, to a new principia politica.

Investigates, in Part 1, the effects of West German stagnation in the 1980s following on from the welfare state doctrine of the 1960s and 1970s, which led to an economic and social crisis becoming inevitable. Shows this is not purely a German problem but one that also affects almost all other capitalist countries – either developed or developing. Expresses irony that the former communist bloc countries should also be engulfed in such crises. Proffers explanations and recommendations to offset the problems in Germany. Part II looks at Israel and how it has begun to emerge from its 1974 austerity programme by Rabin. States that Israel must initiate a new system of stable equilibrium to open a new era that is very possible, but involves economic and social thinking to avoid previous mistakes.

This study aims to compare linear programming and stable marriage approaches to the personnel assignment problem under conditions of uncertainty. Robust solutions should exhibit reduced variability of solutions in the presence of one or more additional constraints or problem perturbations added to some baseline problems.

Several variations of each approach are compared with respect to solution speed, solution quality as measured by officer-to-assignment preferences and solution robustness as measured by the number of assignment changes required after inducing a set of representative perturbations or constraints to an assignment instance. These side constraints represent the realistic assignment categorical priorities and limitations encountered by army assignment managers who solve this problem semiannually, and thus the synthetic instances considered herein emulate typical problem instances.

The results provide insight regarding the trade-offs between traditional optimization and heuristic-based solution approaches.

The results indicate the viability of using the stable marriage algorithm for talent management via the talent marketplace currently used by both the U.S. Army and U.S. Air Force for personnel assignments.

China's agricultural production trusteeship is characterized by the organic link between household operation of small-scale peasant economy and agricultural socialized services, which releases agricultural development vitality and promotes agricultural modernization. As one of the agricultural production trusteeship modes, the whole process trusteeship is suitable for the actual situation of China's aging population and labor force transfer. This paper aims to construct an evolutionary game model containing multistakeholder to explore the behavior decisions through numerical simulation and to provide useful suggestions for the formation of a positive and stable trusteeship relationship and the sound development of the whole process trusteeship of agricultural production.

The paper incorporates village committees, service organizations and farmers into the same research framework, selects “guarantee + dividends” as the income distribution method and applies the evolutionary game method to analyze behavioral choices and evolutionary paths of stakeholders. By constructing the expectation function, establishing the replicator dynamic equations and analyzing the tripartite evolutionary stability strategy, the authors explore the factors that affect the stakeholders’ strategy choice and determine asymptotically stable points and stability conditions.

(1) There is a game relationship among village committees, farmers and service organizations in the whole process trusteeship of agricultural production, asymptotically stable points (0,0,1) and (1,1,1) are obtained through calculation. (2) The proportion of stakeholders' strategy choice, the weight of the whole process trusteeship of agricultural production in the performance appraisal of the village committee, the village committee's supervision cost, the village committee's reputation effect and the penalty for false dividends of the service organization will affect the speed at which the curve representing the tripartite relationship approaches two asymptotically stable points.

The countermeasures proposed in the paper have excellent reference value. (1) For areas that have realized the project: Village committees can solve the trusteeship problems exposed in the initial areas and improve farmers' satisfaction with the project. (2) For areas that have not realized the project: Those regions will receive more experience references and enhance their confidence in this project. The limitation of the paper is that it takes the main grain-producing areas in only the three northeastern provinces of China as the research object. The next research object will be extended to the whole country.

This paper propose strategies for realizing the orderly operation of the whole process trusteeship of agricultural production: first, increase the proportion of stakeholders' strategy choices; second, reduce the village committee's supervision cost; third, increase the weight of the whole process trusteeship of agricultural production in the performance appraisal of the village committee; fourth, improve the village committee's reputation effect; fifth, increase the penalty for false dividends of the service organization.

Agricultural production trusteeship is in its initial stage in China. The interest relationships between stakeholders are not yet clear. The paper innovatively applies the evolutionary game method to the research field of the whole process trusteeship of agricultural production. According to conditions in China, based on ensuring the guaranteed income, the paper introduces the dividend income variable and establishes a tripartite game model of village committees, service organization and farmers. The paper provides suggestions for the orderly and healthy development of China's agricultural production trusteeship and provides experience for the operation of other modes of agricultural production trusteeship.

The purpose of this paper is to explore risk management models applied to electric power markets. Several Value‐at‐Risk (VaR) models are applied to day‐ahead forward contract electric power price data to see which, if any, could be best used in practice.

A time‐varying parameter estimation procedure is used which gives all models the ability to track volatility clustering.

The RiskMetrics model outperforms the GARCH model for 95 per cent VaR, whereas the GARCH model outperforms RiskMetrics for 99 per cent VaR. Both these models are better at handling volatility clustering than the Stable model. However, the Stable model was more accurate in detecting the numbers of daily returns beyond the VaR limits. The fact that the parsimonious RiskMetrics model performed well suggests that efforts to specify the model dynamics may be unnecessary in practice.

The present study provides a starting point for further research and suggests models that could be applied to electricity markets.

Electricity markets are a challenge to risk modelers, as they typically exhibit non‐Normal return distributions with time‐varying volatility. Previous academic research in this area is rather scarce.