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Earth's climate underwent a fundamental change between 1250 and 700 thousand years ago, the mid-Pleistocene transition (MPT), when the dominant periodicity of climate cycles changed from 41 thousand to 100 thousand years in the absence of substantial change in orbital forcing. Over this time, an increase occurred in the amplitude of change of deep-ocean… (More)
Along with a growing interest in tourism research is the effort to establish innovative methodologies that are useful to guide the tourist operators and the policy makers in selecting forecasting techniques. Nevertheless, predicting tourist demand is still lacking at a microeconomic level, while it has become a flourishing theme of research uniquely at a… (More)
The need to understand more in depth tourism demand trends and the aim to provide the tourist operators and the policy makers with innovative predicting tools are the key points of our research. In tourism literature predicting tourist demand has become a flourishing theme of research at a macroeconomic level, while the study is still lacking at a… (More)
This paper defines temporal risk aversion in the context of a simple choice framework: that of time varying utility of wealth. The attention is focused on a decision maker who acts as a buyer: temporal risk premium, instantaneous risk premium and time preference premium are defined.
In this paper we extend the state preference technique to the valuation of some exotic options. Such approach allows to relax some of the strongest assumptions that are imposed by most of the financial models that give rise to a unique value. The technique proposed makes use of stochastic dominance criteria in order to give lower and upper bounds for the… (More)
Coccolithophores are single-celled photosynthesizing marine algae, responsible for half of the calcification in the surface ocean, and exert a strong influence on the distribution of carbon among global reservoirs, and thus Earth's climate. Calcification in the surface ocean decreases the buffering capacity of seawater for CO2, whilst photosynthetic carbon… (More)