The recently awakened discussion on the usability of averages of ratios (AoR) compared to ratios of averages (RoA) has led to the mathematical results in this paper. Based on the empirical results in Larivière and Gingras (2011) we prove, under reasonable conditions, the following relations...

The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor is equal across firms and industries. However, productivity dispersion is widely observed in the real economy. Search theory allegedly fills this gap by encompassing apparent...

The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor is equal across firms and industries. However, productivity dispersion is widely observed in the real economy. Search theory allegedly fills this gap by encompassing apparent...

It is still unknown whether there is some deep structure to modern wars and terrorist campaigns that could allow reliable prediction of future patterns of violent events. Recent war research focuses on size distributions of violent events, with size defined by the number of people killed in each...

Reserves estimation in an unconventional-reservoir setting is a daunting task because of geologic uncertainty and complex flow patterns evolving in a long-stimulated horizontal well, among other variables. To tackle this complex problem, we present a reserves-evaluation workflow that couples the...