In the ideal Black-Scholes world, financial time series are assumed 1) stationary (time homogeneous) and 2) having conditionally normal distribution given the past. These two assumptions have been widely-used in many methods such as the RiskMetrics, one risk management method considered as...

The p-median model is used to locate P facilities to serve a geographically distributed population. Conventionally, it is assumed that the population always travels to the nearest facility. Drezner and Drezner (2006, 2007) re-estate three arguments on why this assumption might be incorrect, and...

This paper presents a different approach to tourism research at the regional level. Financial econometric techniques are applied to international tourist arrivals, as well as their volatilities, in the five main tourist regions in Spain, using monthly international tourist arrivals during...