We propose the unified approach to construct the non–informative prior for time–series econometric models that are invariant under some group of transformations. We show that this invariance property characterizes some of the most popular models hence the applicability of the proposed...

The aim of the paper is to study the nature of normalization in Structural VAR models. Noting that normalization is the integral part of identification of a model, we provide a general characterization of the normalization. In consequence some the easy–to–check conditions for a Structural...

The article presents the problem of identification in parametric models from an algebraic point of view. We argue that it is not just another perspective but the proper one. That is, using our approach we can see the very nature of the identification problem, which is slightly different than...

The paper provides new sufficient conditions for consistent and coherent Bayesian inference when a model is invariant under some group of transformations. Building on our theoretical results we reexamine an example from Stone (1976) giving some new insights. The priors for multivariate normal...

We provide some generalization and clarification of the identification conditions for Structural VAR (SVAR) models given in Rubio–Ramírez et al (2010). In particular we show that their basic sufficient condition is also necessary. In addition we give necessary and sufficient conditions for...

By drawing on neurological and psychological theories of learning, our study introduces a new conceptual framework to analyse the role learning plays in knowledge and skill acquisition. Learning is modelled through four mechanisms defined as individuals' participation in formal, non-formal, and...

Assume that two players have strict rankings over an even number of indivisible items. We propose algorithms to find allocations of these items that are maximin—maximize the minimum rank of the items that the players receive—and are envy-free and Pareto-optimal if such allocations exist. We...

In January 1999, Hugo Chavez was sworn like the president of the Republic of Venezuela. In the late 1999 was approved the Bolivarian Constitution and was the beginning of the V Republic. Currently, after 14 years, Venezuela is governed by his politic party. This article starts a research work to...

This paper intends to explore the utilization of entropy through football, generalizing the interpretation of entropy. We consider it as a measure of competitiveness of football leagues and relate it to the UEFA ranking, which ranks yearly the performance of countries in European Cups. We expect...

In this paper we investigate how the different characteristics of European multinational firms affect their decision to locate in different foreign markets. Considering the existence of n geographically separated markets with different attributes, in terms of entry or fixed costs, variable...