Consistent with the Tourism Education Futures Initiative (TEFI) values, universities need to adequately prepare their graduates with the skills and knowledge needed in a global society. Correspondingly, U.S. universities have prioritized the development of study abroad to foster a global mindset. We offer that short-term, experiential educational travel programs provide a critical platform to f...

Abstract In this article, we shed light on the emergence, diffusion, and use of socio-technological future visions. The artificial intelligence (AI) vision German federal government is examined juxtaposed with respective news media coverage media. By means a content analysis frames, it demonstrated how strategically uses its AI to uphold status quo. largely adapt government´s frames do not inte...

The paper reports the results of an empirical study of the price relation between the German Performance Stock Index, DAX, and DAX futures. An ex-ante arbitrage strategy based on arbitrage signals is analyzed. The data set contains intraday bidand ask futures quotes and index values on a minute by minute basis. It is found that the number and persistence of arbitrage opportunities differs consi...

a r t i c l e i n f o We establish a theoretical model with informed trading in which both of individual stock futures and its underlying stock are traded in the market. With the introduction of the futures, the paper shows that an informed trader's position of futures usually motivates him or her to trade more aggressively in the stock market at the expiration day. This also worsens the advers...

To address this problem, one has to look at (i) societal changes and future developments, (ii) changes in health care as such and (iii) the linkage between these two. In this respect we must realize that we are living in an era where economic, technological, demographic, social and political changes are accelerating. The interface between these changes results in the age of discontinuities as f...

In this paper, we study the efficiency of the Chinese wheat and soybeans futures markets and assess the conditions in agricultural commodity futures and cash markets in China. Formal statistical tests are conducted through Johansen's cointegration approach to identify the long-term equilibrium relationship between futures and cash markets. Three different cash prices from Zhengzhou Grain Wholes...

This paper sketches the broad outlines of the philosophical and methodological foundations of an emerging approach to inquiry — ‘integral inquiry’ — and how this form of inquiry may be applied to futures studies, leading to an approach which has come to called ‘Integral Futures’. A version of this paper appeared in: Futures, vol. 40, no. 2, pp. 190-201, 2008. Special Issue Title: ‘Integral Futu...

We consider portfolio optimization in futures markets. We model the entire futures price curve at once as a solution of a stochastic partial differential equation. The agents objective is to maximize her utility from the final wealth when investing in futures contracts. We study a class of futures price curve models which admit a finite-dimensional realization. Using this, we recast the portfol...

The 1heoretical na1ure of risk premiums in roreign currency futures markets is derived and s1udied empirically. Eslimation problems encountered in using futures da1a are discussed. Since forward rates and fu1ures prices have been found to be approximately equal, and because risk premiums in forward markets are highly variable, consistency of the data requires time variation in daily risk premiu...