We determine the geometrical properties of the most probable paths at finite temperatures T, between two points separated by a distance r, in one-dimensional lattices with positive energies of interaction εi associated with bond i. The most probable path-length tmp in a homogeneous medium...

We study the statistics of record-breaking events in daily stock prices of 366 stocks from the Standard and Poor’s 500 stock index. Both the record events in the daily stock prices themselves and the records in the daily returns are discussed. In both cases we try to describe the record...

In many real-life networks, both the scale-free distribution of degree and small-world behavior are important features. There are many random or deterministic models of networks to simulate these features separately. However, there are few models that combine the scale-free effect and...

This paper examines the efficiency of Indian stock market by using daily closing price of BSE SENSEX from August 2002 to March 2011. The study has used unit root test, autocorrelation test, runs test, GARCH (symmetric) EGARCH and TARCH (asymmetric) models to determine the random walk behaviour...

Many authors have documented that it is challenging to explain exchange rate fluctuations with macroeconomic fundamentals: a random walk forecasts future exchange rates better than existing macroeconomic models. This paper applies newly developed tests for nested model that are robust to the...

Voters' preferences depend on the available information. Following Case-Based Decision Theory, we assume that this information is processed additively. We prove that the collective preferences deduced from the individual ones through majority vote cannot be arbitrary, as soon as a winning quota...

Rainforests are legendary because of their extreme species richness. In the richest rain forests every second tree on a hectare is a different species. As a consequence, most species are rare. Using field data from studies in different parts of the world, we show that species-rich plots often...

This paper examines the comovement in emerging market bond returns and disentangles the influence of external and domestic factors. The conceptual framework, set in the context of asset allocation, allows us to describe the channels through which shocks originating in a particular emerging or...

Rodriguez and Rodrik (2000) argue that the relation between openness and growth is still an open question. One of the main problems in the assessment of the effect is the endogeneity of the relation. In order to address this issue, this paper applies the identification through heteroskedasticity...

This paper identifies and describes key features of Caribbean business cycles during the period 1963-2003. In particular, the chronologies in the Caribbean classical cycle (expansions and contractions in the level of output) and growth cycle (periods of above-trend and below-trend rates of...