For decades researchers have claimed that particularly demand forecasts and construction cost estimations are assigned with/affected by a large degree of uncertainty. Massively, articles, research documents and reports agree that there exists a tendency towards underestimating the costs and...

Unlike earthquake frequency that was proved following the Poisson distribution, seismic hazard (the annual rate of earthquake ground motions) is assumed to be the same type of random variables without tangible support. Instead of using total-probability algorithms currently employed, this study...

The income of agricultural enterprises has always been influenced by both weather and price volatility. Nevertheless, the risk environment of various farms seems not to be the same. Similarly, risk factors are not independent of each other. The aim of the paper is to assess the spatial and...

Generalized Method of Moments (GMM) estimation is discussed under the joint occurrence of fixed effects and random measurement errors in an autoregressive panel data model. Finite memory of measurement errors is allowed for. Two GMM specializations are considered: (i) using instruments (IVs) in...

This paper (i) discusses the combined <InlineEquation ID="IEq1"> <EquationSource Format="TEX">$\bar x$</EquationSource> </InlineEquation> and conforming run length (CRL) charts under the assumption that the quality characteristic under study follows a Gamma(ν, γ, ß) distribution with known parameters ν, γ and ß, (ii) examines the performance of the combined <InlineEquation ID="IEq2"> <EquationSource Format="TEX">$\bar x$</EquationSource> </InlineEquation> and CRL...</equationsource></inlineequation></equationsource></inlineequation>

Recent advances in statistical computation heavily depend on Monte Carlo simulation methods. In many statistical problems, simulated values are used to check or justify any rule whose distributional properties are not known or very difficult to compute. Monte Carlo simulation methods have...

The traditional causality relationship proposed by Granger (Econometrica 37(3):424–438, <CitationRef CitationID="CR10">1969</CitationRef>) assumes the relationships between variables are short range dependence with the same integrated order.Chen (J Forecast 25(3):193–200, <CitationRef CitationID="CR2">2006</CitationRef>, J Forecast 27:607–620, <CitationRef CitationID="CR3">2008</CitationRef>) proposed a bivariate model...</citationref></citationref></citationref>

Path forecasts, defined as sequences of individual forecasts, generated by vector autoregressions are widely used in applied work. It has been recognized that a profound econometric analysis requires, besides the path forecast, a joint prediction region that contains the whole future path with a...

In this paper, control variates are proposed to speed up Monte Carlo Simulations to estimate expected error rates in multivariate classification.

Splines constitute an interesting way to flexibly estimate a nonlinear relationship between several covariates and a response variable using linear regression techniques. The popularity of splines is due to their easy application and hence the low computational costs since their basis functions...