This study reconsiders the role of jumps for volatility forecasting by showing that jumps have a positive and mostly significant impact on future volatility. This result becomes apparent once volatility is separated into its continuous and discontinuous component using estimators which are not...

Since the seminal work of Teece et al. (1994) firm diversification has been found to be a non-random process. The hidden deterministic nature of the diversification patterns is usually detected comparing expected (under a null hypothesys) and actual values of some statistics. Nevertheless the...

Sequence motifs are words of nucleotides in DNA with biological functions, e.g. gene regulation. Identification of such words proceeds through rejection of Markov models on the expected motif frequency along the genome. Additional biological information can be extracted from the correlation...

The upper tail of the firm size distribution is often assumed to follows a Power Law behavior. Recently, using different estimators and on different data sets, several papers conclude that this distribution follows the Zipf Law, that is that the fraction of firms whose size is above a given...

In this paper we develop on a geometric model of social choice among bundles of interdependent elements (objects). Social choice can be seen as a process of search for optima in a complex multi-dimensional space and objects determine a decomposition of such a space into subspaces. We present a...

Recently, Marengo and Settepanella (2010) introduced a model of social choice among bundles of interdependent elements. In this paper we prove that their voting model is highly decidable, i.e. a group of agents that agrees to use such voting process has an high probability to reach a final...

Linking the statistic and the machine learning literature, we provide new general results on the convergence of stochastic approximation schemes and inexact Newton methods. Building on these results, we put forward a new optimization scheme that we call generalized inexact Newton method (GINM)....