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In this paper we consider the classical newsvendor model with profit maximization. When demand is fully observed in each period and follows either the Rayleigh or the exponential distribution, appropriate estimators for the optimal order quantity and the maximum expected profit are established...
Persistent link: https://www.econbiz.de/10009647205
This paper proposes a straightforward Markov-switching asset allocation model, which reduces the market exposure to periods of high volatility. The main purpose of the study is to examine the performance of a regime-based asset allocation strategy under realistic assumptions, compared to a buy...
Persistent link: https://www.econbiz.de/10008592944
Most existing semi-parametric estimation procedures for binary choice models are based on the maximum score, maximum … method offer good potential for practical applications of semi-parametric estimation of binary choice models. …
Persistent link: https://www.econbiz.de/10011107416
, an infinite number of instruments are available for use in large sample estimation. This is particularly the case with …
Persistent link: https://www.econbiz.de/10011107656
The objective of this study is to test regional economic inequalities in Jordan. The methodology has been profoundly influenced by the statistical approach of Analyses Of Variance (ANOVA). This approach tests regional variations in consumption on governorates level. The Least Significant...
Persistent link: https://www.econbiz.de/10011107893
This paper analyzes a growing group of fixed T dynamic panel data estimators with a multi-factor error structure. We use a unified notational approach to describe these estimators and discuss their properties in terms of deviations from an underlying set of basic assumptions. Furthermore, we...
Persistent link: https://www.econbiz.de/10011108692
GARCH (1,1) models are widely used for modelling processes with time varying volatility. These include financial time series, which can be particularly heavy tailed. In this paper, we propose a log-transform-based least squares estimator (LSE) for the GARCH (1,1) model. The asymptotic properties...
Persistent link: https://www.econbiz.de/10011111078
The aim of the present routine is to simulate a demand equation with endogenous prices and unobservable product quality and to retrieve the original parameters using the Control Function (CF) approach. The CF approach is a very useful and simple method to obtain unbiased estimates. The present R...
Persistent link: https://www.econbiz.de/10011111377
Statistical process control is an important and convenient tool to stabilize the quality of manufactured goods and service operations. The traditional Shewhart control chart has been used extensively for process control, which is valid under the independence assumption of consecutive...
Persistent link: https://www.econbiz.de/10011112014
A particularly useful approach for analyzing pooled cross sectional and time series data is Swamy's random coefficient panel data (RCPD) model. This paper examines the performance of Swamy's estimators and tests associated with this model by using Monte Carlo simulation. The Monte Carlo study...
Persistent link: https://www.econbiz.de/10011258202