The estimation of conditional probability distribution functions (PDFs) in a kernel nonparametric framework has recently received attention. As emphasized by Hall, Racine and Li (2004), these conditional PDFs are extremely useful for a range of tasks including modelling and predicting consumer...

This paper investigates preferences for various environment-friendly production system for carrots using discretechoice multi-attribute stated-preference data amongst buyers and explore the effect of collective reputations from growers of an Alpine valley known to be completely dedicated to...

This paper provides a comprehensive analysis of the nonlinear properties of multifactor pricing models. Beginning with the generalized geometric Brownian motion, we develop a method whereby the log returns of a set of d-assets or portfolios admit a scale mixture model. This is followed by an...

Subsequent to the influential paper of [Chan, K.C., Karolyi, G.A., Longstaff, F.A., Sanders, A.B., 1992. An empirical comparison of alternative models of the short-term interest rate. Journal of Finance 47, 1209-1227], the generalised method of moments (GMM) has been a popular technique for...

In South Africa various financial institutions and independent vendors have developedresidential property valuation models to estimate the current value of historically tradedproperties. A natural extension to these models has been to develop historical property priceindices. In this...

Two of the most discussed issues triggered by the so called Feldstein-Horioka puzzle in international macroeconomics are: What does the saving-investment (SI) relation really measure and how should the SI relation be measured? The first contribution of this study is to develop a new variant of...