In the study reported here, we estimated the forward-looking long-term equity risk premium by extrapolating the way it has participated in the real economy. We decomposed the 1926–2000 historical equity returns into supply factors-inflation, earnings, dividends, the P/E, the dividend-payout...

By mapping the optimization problems to physical systems, the paper presents a general-purpose stochastic optimization method with extremal dynamics. It is built up with the traveling salesman problem (TSP) being a typical NP-complete problem. As self-organized critical processes of extremal...

Lane-changing behavior plays an important role in characterizing urban arterial road traffic dynamics. This paper investigates efficiency-driven and objective-driven motives for drivers to change lanes on arterial roads. The former motive is determined by the circumstances of the surrounding...

We estimate the forward-looking long-term equity risk by extrapolating the way it participated in the real economy. We decompose the 1926-2000 historical equity returns into supply factors including inflation, earnings, dividends, price to earnings ratio, dividend payout ratio, book value,...

We use Bayesian dynamic factor models to disentangle the global and idiosyncratic country-specific factors of the stock market prices and other macroeconomic variables from a large group of countries. We find that the global factors account for significant portions of an individual country's...

Energy conservation and PAHs (polycyclic aromatic hydrocarbon) control are two challenges for the iron and steel industry, especially where the industry has developed at high speed. How to select appropriate technologies to improve energy efficiency and control pollution from PAHs simultaneously...

A bicriterion shortest path problem with a general nonadditive cost seeks to optimize a combination of two path costs, one of which is evaluated by a nonlinear function. This paper first identifies a number of emerging transportation applications for which such a shortest path problem might be...

Financial planners and advisors have recently started to recognize that human capital must be taken into account when building optimal portfolios for individual investors. But human capital is not just another pre-endowed asset class that must be included as part of the portfolio frontier. An...