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differently to economic variables, and different age groups within a parity also exhibit varying responses. We have found that …
Persistent link: https://www.econbiz.de/10005656378
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Many common statistical models can be specified as linear models with restrictions imposed on the parameters. A large amount of these models impose restrictions which do not allow for the analytical construction of the probability density function (pdf) of the parameters given the restrictions....
Persistent link: https://www.econbiz.de/10005660914
Convention wisdom usually suggests that agents should use all the data they have to make the best possible prediction. In this paper it is shown that agents may sometimes be able to make better predictions by throwing away data. The optimality criterion agents adopt is the mean squared criterion.
Persistent link: https://www.econbiz.de/10005660921
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We deal with discretization schemes for the simulation of the Heston stochastic volatility model. These simulation … valued using closed-form expressions. For the Heston dynamics an exact simulation method was developed by Broadie and Kaya …, aimed to resolve the disadvantages of this method; one of the main bottlenecks in the exact scheme is the simulation of the …
Persistent link: https://www.econbiz.de/10008487381
these effects. Consequently, it is argued and demonstrated through simulation how these views may be resolved against an …
Persistent link: https://www.econbiz.de/10008487550
In this paper we introduce HECTOR, a new and advanced long-term electricity market model that simulates market behavior bottom-up through opportunistic, variable cost-based bidding of individual power plants into auction-based national markets with international interconnection capacities....
Persistent link: https://www.econbiz.de/10008487662
The purpose of the current paper is to explain how one can forecast the effect of an elected tax on saturated fat on the demand for butter. The tax is to take affect from the first of January 2010 in Denmark. The tax is supposed to affect the consumption of saturated fat and especially high...
Persistent link: https://www.econbiz.de/10008555551