We would like to introduce the 48th issue of the Journal of Economics, Finance and Administrative Science. It is the second issue of the year, and it counts ten articles, according to the requirements of the most prestigious international databases.
The first article, “Uncertainty under hyperbolic discounting: the cost of untying your hands”, proposes a finite horizon model that is readily generalized to include risk and uncertainty on future income within a hyperbolic discounting framework. It provides evidence that workers are vulnerable to contract renegotiations and about the need for a regulator that restores ex-ante efficiency. The article is relevant, as it has measurable implications when analysing commitment or self-control, adherence to healthy habits (e.g. exercising or dieting), procrastination tendencies or savings.
Then, “Fractional differencing in stock market price and online presence of global tourist corporations” aims to explore the behaviour of the stock market prices according to the autoregressive fractional differencing integrated moving-average (ARFIMA) model. The study sample comprises the companies listed at the STOXX® Global 3000 Travel & Leisure. Google Finance and Yahoo Finance, along with Google Trends, were used, respectively, to obtain the data of the stock prices and search results, for a period of five years (October 2012-October 2017).