This article investigates the impacts of asymmetric information within a Lucas (1978) asset pricing economy. Asymmetry enters via the assumption that one group of agents is equipped with superior information about the dividend process.(...)

In this paper, we consider a linear regression model with Gaussian autoregressive errors of order p = 2, which may be nonstationary. Exact inference methods (tests and confidence region) are developed for the autoregressive parameters and the regression coefficients. We generalize the method...

The continuous-valued Hopfield neural network (CHN) is a popular and powerful metaheuristic method for combinatorial optimization. However, it is difficult to select appropriate penalty parameters for constraints so as to obtain a feasible and desirable solution by CHN. Thus, various improved...

A method of estimating the spectral representation of a generalized bivariate stable distribution is presented, based on a series of maximum likelihood (ML) estimates of the stable parameters of univariate projections of the data. The corresponding stable spectral density is obtained by solving...