This paper provides an empirical description of the relationshipbetween the trading system operated by a stockexchange and the transaction costs faced by heterogeneous investors who use the exchange. Therecent introduction ofSETS in the London Stock Exchange provides an excellent opportunity...

Asphalt roads are gradually deteriorating over time and need road mending to remain in a good state. Inspections are performed to obtain information about the current state of the road; when the damage achieves the established standards, the road is repaired through a maintenance action that is...

In this paper we test for (Generalized) AutoRegressive Conditional Heteroskedasticity [(G)ARCH] in daily data on 22 exchange rates and 13 stock market indices using the standard Lagrange Multiplier [LM] test for GARCH and a LM test that is resistant to patches of additive outliers. The data span...

A key application of long memory time series models concerns inflation. Long memory implies that shocks have a long-lasting effect. It may however be that empirical evidence for long memory is caused by neglecting one or more level shifts. Since such level shifts are not unlikely for inflation,...

This paper discusses several strategies for the maintenance of light standards, where each light standard consists of n independent and identical lamps screwed on a chandelier. The lamps are subject to stochastic failures, and must be correctively replaced if the number of failed lamps reaches a...

It is conceivable that the whether to buy and how much tobuy decisions in the purchasing process of households areinfluenced by the inventory process. In this paper we thereforeput forward a model for consumption, where we rely on establishedeconomic theory. We incorporate this model in a model...

This article studies specific aspects of the joint replenishment problem in a realsupply chain setting. Particularly we analyze the effect on inventory performance of havingminimum order quantities for the different products in the joint order, given a complextransportation cost structure. The...