The overall goal of this research is to empirically analyze shrimp fishermen behavior to help improve the management of the Gulf of Mexico shrimp fleet. Given that optimal management requires consideration of more than the net benefits derived from shrimp harvesting, this research also seeks to...

This paper studies the estimation of a semi-strong GARCH(1,1) model when it does not have a stationary solution, where semi-strong means that we do not require the errors to be independent over time. We establish necessary and sufficient conditions for a semi-strong GARCH(1,1) process to have a...

For autoregressive moving average (ARMA) models with infinite variance innovations, quasi-likelihood-based estimators (such as Whittle estimators) suffer from complex asymptotic distributions depending on unknown tail indices. This makes statistical inference for such models difficult. In...