Gini index is a widely used measure of economic inequality. This article develops a theory and methodology for constructing a confidence interval for Gini index with a specified confidence coefficient and a specified width without assuming any specific distribution of the data. Fixed sample size...

We used a time-series cross-section dataset to test several hypotheses pertaining to the role of macroprudential policy instruments in the management of the financial cycle in advanced open economies. The short-run effects are most significant for caps on loan to value and income (LTV and LTI)...

MCDM methods are useful to obtain information and generate knowledge useful for decision-making processes in multidisciplinary contexts. Particularly, when conflicts occur, knowledge is the key to start negotiation processes between stakeholders in order to achieve consensual solutions. The...

This paper studies a two-person trading game in continuous time that generalizes Garivaltis (2018) to allow for stock prices that both jump and diffuse. Analogous to Bell and Cover (1988) in discrete time, the players start by choosing fair randomizations of the initial dollar, by exchanging it...

This paper derives a robust online equity trading algorithm that achieves the greatest possible percentage of the final wealth of the best pairs rebalancing rule in hindsight. A pairs rebalancing rule chooses some pair of stocks in the market and then perpetually executes rebalancing trades so...

Predicting corporate failure is an important problem in management science. This study tests a new method for predicting corporate failure on a sample of Spanish firms. A GRASP (Greedy Randomized Adaptive Search Procedure) strategy is proposed to use a feature selection algorithm to select a...

The levels of competitiveness that globalization imposes on companies, requires them to use tools to continuously improve the levels of productivity and efficiency in their production processes. Within the classification of waste that affect productivity, highlights the time as one of the most...

Many empirical studies of auctions rely on the assumption that the researcher observes all variables that make auctions differ ex ante. When there is unobserved heterogeneity, the direction of the bias this causes is known only in a few restrictive examples. In this paper, I show that ignoring...

I propose a Bayesian method to analyze bid data from first-price auctions under private value paradigms. I use a series representation to specify the valuation density so that bidding monotonicity is always satisfied, and I impose density affiliation by the nonparametric technique of Beresteanu...

One of the main drawbacks of the original CreditRisk+ methodology is that it models the default rates of the sectors (e.g. industry) as independently distributed random variables. Such an assumption has been considered as unrealistic and various approaches have been proposed in order to overcome...