Recent developments in the theory of choice under uncertainty and risk yield a pessimistic decision theory that replaces the classical expected utility criterion with a Choquet expectation that accentuates the likelihood of the least favorable outcomes. A parallel theory has recently emerged in...

Statistical models of unobserved heterogeneity are typically formalized as mix- tures of simple parametric models and interest naturally focuses on testing for homogeneity versus general mixture alternatives. Many tests of this type can be interpreted as C(») tests, as in Neyman (1959), and...

We argue that quantile regression methods can play a constructive role in the analysis of duration (survival) data offering a more flexible, more complete analysis than is typically available with more conventional methods. We illustrate the approach with a reanalysis of the data from the...

The issue of compatibility of athletics and academics has led to much concern over the observed disparity in graduation rates of scholarship athletes across institutions. It is ironic that no one mentions that graduation rates for nonathletes also vary dramatically across campuses. Our approach...

Conditional quantile estimation is an essential ingredient in modern risk management. Although GARCH processes have proven highly successful in modeling financial data it is generally recognized that it would be useful to consider a broader class of processes capable of representing more...

In this paper we analyze data for each Division I National Collegiate Athletic Association (NCAA) school on academic characteristics, athletic characteristics, and graduation rates. Three groups of athletes are studied: male football players, male basketball players, and female basketball...

Quantile regression for censored survival (duration) data offers a more flexible alternative to the Cox proportional hazard model for some applications. We describe three estimation methods for such applications that have been recently incorporated into the R package quantreg: the Powell (1986)...

Recently, computational methods and software have been receiving more attention in the econometrics literature, emphasizing that they are integral components of modern econometric research. This has also promoted the development of many new econometrics software packages written in R and made...