Showing 1 - 10 of 209
Decision trees are hierarchical, sequential classification structures that recursively partition the set of observations (data) and are used to represent rules underlying the observations. This article describes the development of TreeWorks, a tool that enhances existing decision tree theory and...
Persistent link: https://www.econbiz.de/10009434759
This paper describes the development and application of a simulation tool for modelling patient choice in healthcare systems. Patient choice is already offered in the English National Health Service (NHS) and proposed reforms will propel choice to the forefront of NHS re-structuring by offering...
Persistent link: https://www.econbiz.de/10009434761
We consider the estimation of the location of the pole and memory parameter, λ0 and α respectively, of covariance stationary linear processes whose spectral density function f(λ) satisfies f(λ) ∼ C|λ − λ0|−α in a neighbourhood of λ0. We define a consistent estimator of λ0 and...
Persistent link: https://www.econbiz.de/10009439464
Consumers are often confronted with choices between options that vary in their short and long term benefit, or what we call immediate and delayed utility. This paper describes the marketing implications of what economists and psychologists have learned about how consumers make these choices. The...
Persistent link: https://www.econbiz.de/10009439529
An optimal investment problem is solved for an insider who has access to noisy information related to a future stock price, but who does not know the stock price drift. The drift is filtered from a combination of price observations and the privileged information, fusing a partial information...
Persistent link: https://www.econbiz.de/10009439570
Firms often delegate important decisions to committees which are set up specifically for that purpose; for example selection committees. We analyze the equilibrium behavior of a game in which committee members (the players) interview candidates sequentially, either hiring or going on to the next...
Persistent link: https://www.econbiz.de/10009439598
Asymptotic inference in nonlinear vector error correction models (VECM) that exhibit regime-specific short-run dynamics is nonstandard and complicated. This paper contributes the literature in several important ways. First, we establish the consistency of the least squares estimator of the...
Persistent link: https://www.econbiz.de/10009439611
This paper is concerned with semiparametric estimation of a threshold binary response model. The estimation method considered in the paper is semiparametric since the parameters for a regression function are finite-dimensional, while allowing for heteroskedasticity of unknown form. In...
Persistent link: https://www.econbiz.de/10009439612
For linear processes, semiparametric estimation of the memory parameter, based on the log-periodogram and local Whittle estimators, has been exhaustively examined and their properties are well established. However, except for some specific cases, little is known about the estimation of the...
Persistent link: https://www.econbiz.de/10009439614
This paper studies the estimation of a semi-strong GARCH(1,1) model when it does not have a stationary solution, where semi-strong means that we do not require the errors to be independent over time. We establish necessary and sufficient conditions for a semi-strong GARCH(1,1) process to have a...
Persistent link: https://www.econbiz.de/10009439719