The identification and estimation of a semiparametric simultaneous equation model with selectivity have been considered. The identification of structural parameters from reduced form parameters in the semiparametric model requires stronger conditions than the usual rank condition in the...

In this paper, we consider a multiple-stage tandem production/inventory system producing a single product. Processing time at each stage is assumed to have a general stationary processing time distribution. The cost of holding work-in-process (WIP) inventory is different at each stage....

We consider a make-to-stock production/inventory system consisting of a single deteriorating machine which produces a single item. We formulate the integrated decisions of maintenance and production using a Markov Decision Process. The optimal dynamic policy is shown to have a rather complex...

This dissertation contains four essays about evolutionary learning dynamics and the quantal response model of bounded rationality in game theory.The first essay examines the use of single-agent and representative-agent models to describe the aggregate behavior of heterogeneous quantal...

Despite their widespread use as predictors of the spot price of oil, oil futures prices tend to be less accurate in the mean-squared prediction error sense than no-change forecasts. This result is driven by the variability of the futures price about the spot price, as captured by the oil futures...

On-Line Analytical Processing (OLAP) aims at gaining useful information quickly from large amounts of data residing in a data warehouse. To improve the quickness of response to queries, pre-aggregation is a useful strategy. However, it is usually impossible to pre-aggregate along all...

In this paper, we define dynamic and static factors and distinguish between the dynamic and static structure of asset excess returns. We examine the value-weighted market portfolio as a dynamic factor and propose an intuitively appealing procedure to search for more dynamic factors. We find...

We propose a Bayesian framework in which the uncertainty about the half-life of deviations from purchasing power parity can be quantified. Based on the responses to a survey study, we propose a prior probability distribution for the half-life under the recent float intended to capture widely...