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; consequently, the problem of evaluating joint rejection probabilities arises frequently in econometrics and statistics. In this …
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distribution of stock returns is usually rejected in empirical studies, due to excess kurtosis and asymmetry. To model such data …
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In this paper, we provide both quantitative and quantitative measures of the cost of measuring the integrated volatility by the realized volatility when the frequency of observation is fixed.
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We instillate rational cognition and learning in "seemingly riskless" choices and judgments. Preferences and possibilities are given in a stochastic sense and based on revisable expectations. The theory predicts experimental preference reversals and passes a sharp econometric test of the status...
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