This paper examines the Weak-Form Efficient Market Hypothesis across time for the Nigerian Stock Exchange (NSE) by hypothesizing Normal Distribution and Random walk in periodic return series. Monthly all share indices of the NSE are examined for three periods including January 1985 to December...

Regional income dispersion is a sensitive issue in China in terms of judging the impact of economic reform. This study looks closely at the issue as to what are the determinants of income variation among households in general, and which are the key determinants of income dispersion among...

In a simple form, the basic relationship that can be used while exponential neat, is given by the expression: (for t ≥ 2) Where: St = the adjusted values of the dynamic series; yt = the levels of the empiric series; St-1 = the adjusted value of the term t – 1; w = a constant of adjustment...

This paper studies repeated games where the time of repetitions of the stage game is not known or controlled by the players. Many economic situations of interest where players repeatedly interact share this feature, players do not know exactly when is the next time they will be called to play...

This paper summarizes the theory of knowledge from the book of the same title by the same author. The paper begins by asking, and answering, what knowledge is. In searching for precise definitions it rids itself of the ambiguous term of infinity. The seven main laws of knowledge are laid out and...

We analyze an economy populated by a sequence of generations who decide over their consumption levels and the levels of investment in human capital of their immediate descendants. The objective of the paper is to identify the impact of strategic interactions between consecutive generations on...

Hedonic house price models typically impose a constant price structure on housing characteristics throughout an entire market area. However, there is increasing evidence that the marginal prices of many important attributes vary over space, especially within large markets. In this paper, we...

This work aims at analysing the value of recreational water uses for the Idro Lake (Lombardy, Northern Italy), which has been experiencing dramatic fluctuations in its levels in recent years, due to excessive productive withdrawal that affected recreational uses. It estimates the economic...

This study applies the nonparametric estimation procedure to the diffusion process modeling the dynamics of short-term interest rates. This approach allows us to operate in continuous time, estimating the continuous-time model, despite the use of discrete data. Three methods are proposed. We...

The issue of over-utilization of medical procedures has generated strong debate in the United States. It is well acknowledged that, in the agency relationship between physicians and patients, the informational advantage gives doctors an incentive to deviate from the appropriate treatment as...