It is a well known fact that on average, women in all countries earn less than men. Although less pronounced among OECD countries, the fact remains that the gender gap in earnings still persists to a significant degree. Less well known is that the rate of return (ROR) to university education is...

Bernardo and Ledoit (2000) develop a very appealing framework to compute pricing bounds based on the so-called gain-loss ratio. Their method has many advantages and very interesting properties and so far one important drawback: the complexity of the numerical computation of the pricing bounds....

We consider HJM type models for the term structure of futures prices, where the volatility is allowed to be an arbitrary smooth functional of the present futures privce curve. Using a Lie algebraic approach we investigate when the infinite dimensional futures price process can be realized by a...

Background: The Fracture Intervention Trial (FIT) showed that the bisphosphonate alendronate reduces the risk of fractures in women with low bone mass in the United States. <p> Objective: To estimate the cost-effectiveness (cost per life-year gained and cost per quality-adjusted life-year, QALY,...</p>

Background <p> Economic evaluation of treatments in multiple sclerosis (MS) presents a challenge. The disease affects a number of different body functions and leads to severe disability over time, without however a strong effect on mortality. At onset, the majority of patients will have...</p>

This paper investigates the effects of different health systems on cost efficiency in inpatient health care among the OECD countries. The results indicate that public contract systems are less efficient and that public integrated health systems are more efficient than public reimbursement systems.

The utopia point of a multicriteria optimization problem is the vector that specifies for each criterion the most favourable among the feasible values. The Euclidean compromise solution in multicriteria optimization is a solution concept that assigns to a feasible set the alternative with...

An estimator of population parameters for cross sectional analysis is suggested. The estimator is basically the generalised regression estimator (TGR) but with an adjustment derived from optimal predictors of AR(1)-series. The P- properties of the estimator are studied and the efficiency of the...

We consider forward rate rate models of HJM type, as well as more general infinite dimensional SDEs, where the volatility/diffusion term is stochastic in the sense of being driven by a separate hidden Markov process. <p> Within this framework we use the previously developed Hilbert space...</p>

The effect of a securities transaction tax on price volatility is estimated on a sample of 11 years of quarterly data from 14 stock markets in different countries. No effect, positive or negative, is found if the volatility is assumed to be monnotonously increasing or decreasing in the tax rate....