Lam, et al. (2010, 2012) and Guo, et al. (2015) have developed a new Bayesian approach to explain some market anomalies. In this paper we conduct a survey to examine whether the theory developed in Lam, et al. (2010, 2012) and Guo, et al. (2015) holds empirically by studying the behavior of...

In this paper we first extend the theory of almost stochastic dominance (ASD) (for risk averters) to include the ASD for risk-seeking investors. We then study the relationship between ASD for risk seekers and ASD for risk averters. Recently, Tsetlin, et al. (2015) develop the theory of...

This paper reports the performances of expert advisor (EA) strategies that are tested on the popular metatrader4 (MT4) platform. The results show the profitability and stability of the strategy; for the test period of July 2013 to March 2014 on per minute (M1) data, the net profit return is...

Recent years have witnessed the advancement of automated algorithmic trading systems as institutional solutions in the form of autobots, black box or expert advisors. However, little research has been done in this area with sufficient evidence to show the efficiency of these systems. This paper...

The famous Hiemstra-Jones test (HJ test) developed by Hiemstra and Jones plays a significant role in studying nonlinear causality. In the last two decades there are numerous applications and theoretical extensions based on this pioneering work. However, several works pointed out that...

In this paper, we develop some theories related to relationships between central moments, stochastic dominance (SD) and expected utility. The first part of our discussion focus on the relationship between central moments, different order integrals and stochastic dominance as well as relationship...

We first show that second-order stochastic dominance (SSD) and/or second-order risk-seeking stochastic dominance (SRSD) alone for any two prospects is not sufficient to imply the Omega ratio of one asset is always greater than that of the other one. We then extend the theory of risk measures by...

We will discuss applications of econometrics to various fields, including finance, economics, marketing, management, decision sciences, risk management, and operational research. In order to do well in applying econometrics to various fields, I suggest authors could consider to develop necessary...

Main factors effecting the growth of tourists visiting Mongolia are examined. Tourists from 23 source countries are observed: Canada, Russia, France, Germany, Sweden, Japan, Indonesia, United States, Italy, Netherlands, Poland, Singapore, Taiwan, Turkey, Ukraine, Hong Kong, Switzerland,...

To sustain competitive advantage, nowadays more than ever, outsourcing is crucially important for international and domestic firms. However, making the right outsourcing decision is not just a simple task, rather a multiple-factor decision-making issue. This paper attempts to aid decision-makers...