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The encroachment of agricultural practices into traditional rangeland areas of north-eastern Morocco is considered by some to have negative impacts in both the agro-pastoral communities that utilise these ranges and the surrounding physical environment. Indicating the extent and location of such land use changes provides resource managers with valuable information on which more sustainable deve...

Understanding and measuring determinants of bid-ask spreads is decisive to clarifying the efficiency of the microstructure of any exchange and general market liquidity. This paper examines the market microstructure of a low liquidity, market maker driven option market, the relations to the underlying securities’ market and the challenges of pricing liquidity. Comparing empirical results with pr...

As the title suggests, this paper compares two “formula” or mechanical investment techniques, dollar cost averaging and a relatively new proposal, value averaging, to a form of random investing to determine if any technique yields superior investment performance. Results indicate that value averaging does provide superior expected investment returns when investment prices are quite volatile and...

The mobile online medium (i.e. mobile data communication) allows the creation of context-sensitive profiles for mobile consumers by using identityand context information and thereby enabling the efficient targeting of current consumers' needs. However, current implementations of Mobile Marketing activities do not make use of these beneficial unique features and apply, for instance, content-base...

We separate the “rentier” portion of the budget constraint of the representative agent from the “income-plus-distributed profits” segment. The former’s wealth consists exclusively of returns on government bonds, the latter’s wealth is wage income from working for firms plus the distributed profits of the latter. The non-neoclassical element is the non-imposition of the market-clearing assumptio...

The aim of the chapter is to discuss and illustrate different approaches taken in the area of empirical market segmentation in tourism, and to raise conceptual, practical and methodological problems in this context. The chapter is limited to the discussion of empirical market segmentation, which means that an empirical data set (typically resulting from a tourist survey) represents the basis. P...

This study examines individual behavior in two well-functioning marketplaces to investigate whether market experience eliminates the endowment effect. Field evidence from both markets suggests that individual behavior converges to the neoclassical prediction as market experience increases. In an experimental test of whether these observations are due to treatment (market experience) or selectio...