This paper develops two methods for estimating the effect of schooling on achievement test scores that control for the endogeneity of schooling by postulating that both schooling and test scores are generated by a common unobserved latent ability. These methods are applied to data on schooling...

This paper introduces a new non-parametric approach to integrate empirical probability functions of the real return for different investment horizons for five portfolios of Swedish stocks and bonds. In our setting the problem reduces to generating new generalizations from an empirical Markov...

In this paper we test for mean reversion in the Nordic stock markets using monthly nominal data 1947-1998. By simply account for the heteroscedasticity of the data with a regime-switching model of normal distributions and taking estimation bias into account via a Bayesian approach we can find no...

This note is made of four book reviews of Brooks et al. (2011), Karian and Dudewicz (2011), McGrayne (2010), and Ziliak and Mc- Closkey (2008), respectively. They are scheduled to appear in the next issue of CHANCE.

Abstract: In this paper, we review classical and advanced methodologies for analysing within-subject functional Magnetic Resonance Imaging (fMRI) data. Such data are usually acquired during sensory or cognitive experiments that aims at stimulating the subject in the scanner and eliciting evoked...

Using data from Spanish Social Security records, we investigate the returns to experience in different flexible work arrangements, including part-time and full-time work, and permanent and fixed-term contracts. We use a trivariate random effects model which consists of a three-equation system...

The Wang-Landau algorithm aims at sampling from a probability distribution, while penalizing some regions of the state space and favouring others. It is widely used, but its convergence properties are still unknown. We show that for some variations of the algorithm, the Wang-Landau algorithm...