Media discourse reflects and shapes social and public opinion, which is crucial to the policy-making and energy system deployment. In this study, we focus on exploring the impact of media discourse on social perceptions towards biomass energy utilization in the different economic areas of China...

Research in both economics and psychology suggests that, when agents predict the next value of a random series, they frequently exhibit two types of biases, which are called the gambler's fallacy (GF) and the hot hand fallacy (HHF). The gambler's fallacy is to expect a negative correlation in a...

Using weekly stock-bond correlations estimated with high-frequency data, the authors find that a lower (more negative) stock-bond correlation forecasts falling 10 -year interest rates over the coming weeks, and it also forecasts a falling 1-year interest rates over the next year. The reverse is...

Using weekly stock-bond correlations estimated with high-frequency data, the authors find that a lower (more negative) stock-bond correlation forecasts falling 10-year interest rates over the coming weeks, and it also forecasts a falling 1-year interest rates over the next year. The reverse is...

Historical simulation (HS) is a popular Value-at-Risk (VaR) approach that has the advantage of being intuitive and easy to implement. However, its responses to most recent news are too slow, its two “tails” (upper and lower) cannot learn from each other, and it is not robust if there is...

This paper proposes a two-state Markov-switching model for stock market returns in which the state-dependent expected returns, their variance and associated regime-switching dynamics are allowed to respond to market information. More specifically, we apply this model to examine the explanatory...