Let <InlineEquation ID="IEq1"> <EquationSource Format="TEX">$$\mathbb{N }=\{1, 2, 3, \ldots \}$$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <mrow> <mi mathvariant="double-struck">N</mi> <mo>=</mo> <mo stretchy="false">{</mo> <mn>1</mn> <mo>,</mo> <mn>2</mn> <mo>,</mo> <mn>3</mn> <mo>,</mo> <mo>…</mo> <mo stretchy="false">}</mo> </mrow> </math> </EquationSource> </InlineEquation>. Let <InlineEquation ID="IEq2"> <EquationSource Format="TEX">$$\{X, X_{n}; n \in \mathbb N \}$$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <mrow> <mo stretchy="false">{</mo> <mi>X</mi> <mo>,</mo> <msub> <mi>X</mi> <mi>n</mi> </msub> <mo>;</mo> <mi>n</mi> <mo>∈</mo> <mi mathvariant="double-struck">N</mi> <mo stretchy="false">}</mo> </mrow> </math> </EquationSource> </InlineEquation> be a sequence of i.i.d. random variables, and let <InlineEquation ID="IEq3"> <EquationSource Format="TEX">$$S_{n}=\sum _{i=1}^{n}X_{i}, n \in \mathbb N $$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <mrow> <msub> <mi>S</mi> <mi>n</mi> </msub> <mo>=</mo> <msubsup> <mo>∑</mo> <mrow> <mi>i</mi> <mo>=</mo> <mn>1</mn> </mrow> <mi>n</mi> </msubsup> <msub> <mi>X</mi> <mi>i</mi> </msub> <mo>,</mo> <mi>n</mi> <mo>∈</mo> <mi mathvariant="double-struck">N</mi> </mrow> </math> </EquationSource> </InlineEquation>....</equationsource></equationsource></inlineequation></equationsource></equationsource></inlineequation></equationsource></equationsource></inlineequation>

We study the asymptotic behavior of lattice power variations of two-parameter ambit fields that are driven by white noise. Our first result is a law of large numbers for such power variations. Under a constraint on the memory of the ambit field, normalized power variations are shown to converge...

We study the asymptotics of lattice power variations of two-parameter ambit fields driven by white noise. Our first result is a law of large numbers for power variations. Under a constraint on the memory of the ambit field, normalized power variations converge to certain integral functionals of...

We show that a mixed equilibrium of a semi-anonymous nonatomic game can be used to generate pure-strategy profiles for finite games randomly generated from the type distribution of the nonatomic game. As the numbers of players involved in the finite games increase, the generated profiles will be...

This study demonstrates that the interactions of firm-level indivisible investments give rise to aggregate fluctuations without aggregate exogenous shocks. When investments are indivisible, aggregate capital is determined by the number of firms that invest. I develop a method to derive the...

We develop a novel high-dimensional non-Gaussian modeling framework to infer conditional and joint risk measures for many financial sector firms. The model is based on a dynamic Generalized Hyperbolic Skewed-t block-equicorrelation copula with time-varying volatility and dependence parameters...

In the context of a continuum of random variables, arising, for example, as rates of return in financial markets with a continuum of assets, or as individual responses in games with a continuum of players, an important economic issue is to show how idiosyncratic risk can be removed through some...

Pascoa (1993a) showed that the failure of the law of large numbers for a continuum of independent randomizations implies that Schmeidler's (1973) concept of a measure-valued profile function in equilibrium might not coincide with the concept of mixed strategies equilibrium of a nonatomic game....

Consider the d-dimensional unit cube [0,1]d and portion it into n regions, A1,..., An. Select and fix a point in each one of these regions so we have x1,..., xn. Consider observable variables Yi, i = 1,..., n, satisfying the multivariate regression model Yi = g(xi) + [var epsilon]i, where g is...