This paper addresses the phenomenon of overtourism in Budapest from multiple perspectives, starting with an overview that uses information collected from news, media, and academic tourism literature. Further, the phenomenon of overtourism is addressed quantitatively using different indicators, including tourism density and intensity. According to these indicators, the center of Budapest (formed by districts I, V, VI, VII, VIII, and IX) has been strongly affected by the presence of tourists, while districts physically far from the center have been less affected. This fact suggests the heterogeneity of the city in terms of overtourism. The number one catalyst of the negative impacts of foreign visitors’ behavior is party tourism (‘ruin pub’ tourism), which involves an unconventional use of the Hungarian capital. Finally, using an unconventional optimization method called fuzzy linear programming, we attempt to explore the challenging problem of identifying the optimal number of tourists for the city. The results of the study have important theoretical, methodological, and practical implications. On the theoretical side, we offer a comprehensive understanding of the phenomenon of overtourism in Budapest. Methodologically, the integrated approach in terms of data gathering and unconventional analytical methodologies (comprised of a case study analysis, the assessment of effective indicators for measuring the discussed phenomenon, and the demonstration of the sustainable number of visitors) represents a novel perspective about the extent of overtourism in Budapest. On the practical side, our findings provide valuable guidance for policymakers to help mitigate the problem of overtourism in the city. With regard to future research, we suggest extending and updating the results presented in this study to develop more sustainable tourism strategies.

SZ. SZ. SEBREK -B. P. GARRIDOThis paper seeks to illuminate empirically a class of drivers of fi rm performance hitherto neglected in the economic literature. To accomplish this objective, we distinguished three elements: sales volume, participation in technology alliancing, and successful patent issuing. Our fi ndings suggest that competitive pressure posed by larger rivals in an industry affects sales performance negatively, but the possession of absorptive capacity can counter this deleterious effect. Findings regarding the effects caused by a product portfolio with high technological content are mixed. Depending on the performance measure applied, the results show evidence of adverse outcomes for sales, U-shaped effects for participation in technology alliancing and inverted U-shaped results for patenting. We obtained our raw data from the 2006 and 2008 PITEC database, which is the Spanish equivalent of the EU Community Innovation Survey. Our sample embraces more than 3000 fi rms.Keywords: competitive pressure, absorptive capacity, technological degree of the product portfolio, fi rm performance, large sample size JEL classifi cation indices: L25, M10, M19

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The study seeks to explore how blockchain technology enables the creation of new ideas for ventures and to examine the activities of founders and entrepreneurial teams in shaping those ideas. We adopted several theoretical frameworks – external enablers theory, dynamic capabilities (DCs), and dynamic managerial capabilities (DMCs) – to explain the interaction of the actor-independent and actor-dependent factors in the process of new firm formation. We analysed four Hungarian blockchain start-ups that operate across financial services, cryptocurrency trading, crypto asset management, energy, information technology, and identity industries and create high value-added and cross-industrial offerings for Hungarian and foreign markets. Using qualitative study research results, the study develops the model of external enablers, founders' and firm capabilities and new venture creation. We identify three interconnected external enablers – namely, market volatility associated with the growing popularity of cryptocurrencies and the underlying blockchain technology, the properties of blockchain, and the ideology behind the technology – and discuss the role of entrepreneurs' DMCs and sensing and seizing activities in discovering and shaping these enablers into profitable business ideas.

In many applications of linear programming, the lack of exact information results in various problems. Nevertheless, these types of problems can be handled using fuzzy linear programming. This study aims to compare different ranking functions for solving fuzzy linear programming problems in which the coefficients of the objective function (the cost vector) are fuzzy numbers. A numerical example is introduced from the field of tourism and then solved using five ranking functions. Computations were carried out using the FuzzyLP package implemented in the statistical software R.