This paper explores the foundations and properties of the quantal response statistical equilibrium (QRSE) model developed by Scharfenaker and Foley (2017). The QRSE model provides a behavioral foundation for the formation of aggregate economic outcomes in social systems characterized by negative...

Kaufmann, Kraay and Mastruzzi present the newly updated estimates of six dimensions of governance covering 209 countries and territories for five time periods: 1996, 1998, 2000, 2002 and 2004. These indicators are based on several hundred individual variables measuring perceptions of governance,...

An agent is asked to assess a real-valued variable Y_{p} based on certain characteristics X_{p} = (X_{p}^{1},...,X_{p}^{m}), and on a database consisting (X_{i}^{1},...,X_{i}^{m},Y_{i}) for i = 1,...,n. A possible approach to combine past observations of X and Y with the current values of X to...

We use a case study of a pension plan wishing to hedge the longevity risk in its pension liabilities at a future date. The plan has the choice of using either a customised hedge or an index hedge, with the degree of hedge effectiveness being closely related to the correlation between the value...

In this paper, I test whether, following an equity carve-out, there is a reduction in information asymmetry among investors of the parent firm, and whether this reduction is value-enhancing. I measure information asymmetry by estimating the probability of information-based trading (PIN) using a...

With the institution of Regulation Fair Disclosure (FD) on October 23, 2000, the Securities and Exchange Commission (SEC) imposed higher transparency requirements on the voluntary disclosure practices of public companies. This paper investigates whether the regulation induced companies to commit...

In this research paper we search the evidence of our suspection on the existence of a combined process of chaotic and stochastic process. First, we test for normal and IID. Second, we test for nonlinearity. Then we applied best fit stochastic model. We test chaotic process in the residual of...

A model for the approximation of enterprise-level crop yields under climate change is proposed which integrates economic and agronomic notions of crop production. The model is potentially useful to policy makers, since it could provide an estimate of the yield volume that can be expected to be...