Purpose: The model proposed in this paper addresses a dynamic optimization model for allocating medical resources in epidemic controlling. Design/methodology/approach: In this work, a three-level and dynamic linear programming model for allocating medical resources based on epidemic diffusion...

This paper examines regression-adjusted estimation and inference of unconditional quantile treatment effects (QTEs) under covariate-adaptive randomizations (CARs). Datasets from field experiments usually contain extra baseline covariates in addition to the strata indicators. We propose to...

Prior literature finds that variables that can forecast market returns in sample do not beat historical averages in forecasting market returns out of sample. We propose a naïve model averaging (NMA) method, which produces mostly positive out-of-sample R2s for the variables that are significant...

We find a positive relationship between individual downside variance premia, the difference between risk-neutral and physical expected downside variances, and future corporate bond returns. The hedge portfolio earns the economically substantial and statistically significant excess return of...

This paper studies inference on the average treatment effect in experiments in which treatment status is determined according to “matched pairs” and it is additionally desired to adjust for observed, baseline covariates to gain further precision. By a “matched pairs” design, we mean that...

In the econometric analysis of labor market transitions, the data generating process is often specified as a continuous-time semi-Markovian process with a finite state space. With typically short panel data, analysts have long been concerned with the initial conditions problem -- a complication...

Group buying events, in which the unit price for a good or service declines with higher number of customer sign ups, are increasingly becoming popular for retailing goods and services, especially in emerging markets. This paper theoretically and empirically studies consumer equilibrium, pricing,...