This paper uses three different Malmquist Productivity Index (MPI) decompositions to measure Greek seaports’ productivity for the time period 2006-2010. In addition bootstrap techniques are applied in order for confidence intervals of the MPIs and their components to be constructed and...

This paper investigates the timing abilities of Australian managed fund managers. To examine timing abilities, the cross-sectional bootstrap approach is adopted to determine whether timing ability is due to skill or luck. Based on three alternative timing measures, we find that top-ranked...

The constrained estimation in Cox’s model for the right-censored survival data is studied and the asymptotic properties of the constrained estimators are derived by using the Lagrangian method based on Karush–Kuhn–Tucker conditions. A novel minorization–maximization (MM) algorithm is...

In this work, we develop a new model for competition in markets with differentiated products. In addition, we present a consumer model designed to produce a flexible nonlinear inverse demand system that resembles the classical Multinomial Logit model, and discuss several extensions. We...

This paper presents a method to construct a sequence of approximate policy functions of increasing accuracy on non-local domains. The method is based upon the notion of stable manifold originated from dynamical systems theory. The approximate policy functions are constructed employing the...

The River Ouse forms a significant part of Humber river system, which drains about one fifth the land area of England and provides the largest fresh water source to the North Sea from UK. The river quality in the tidal river suffered from sag of dissolved oxygen (DO) during last few decades,...

This paper studies a dynamic equilibrium with small fixed transactions costs. We consider an overlapping generations economy with two assets of different liquidity. Trading the liquid asset does not involve transactions costs while trading the illiquid asset requires a fixed transaction fee....

We numerically determine the equilibrium trading strategies in a Continuous Double Auction (CDA). We consider heterogeneous and liquidity motivated agents, with private values and costs, that trade sequentially in random order under time constraints and are not aware of the type of the other...

This paper aims to analyze learning as a two-type process. A dynamic equilibrium process represents a stable learning process, that may express an individualistic behavioral learning or an organizational adaptation. A teleological process represents an intentional, goal-oriented, learning...