This paper shows that the asymptotic normal approximation is often insufficiently accurate for volatility estimators based on high frequency data. To remedy this, we compute Edgeworth expansions for such estimators. Unlike the usual expansions, we have found that in order to obtain meaningful...

This is the first paper about the high dimensional beta tests with high frequency financial data, which allowing that the number of regressors can be larger than the number of observations within each estimation block and can also grow to infinity in asymptotics. In this paper, the sum-type test...

This paper is about how to estimate the integrated covariance <X,Y>T of two assets over a fixed time horizon [0,T], when the observations of X and Y are "contaminated" and when such noisy observations are at discrete, but not synchronized, times. We show that the usual previous-tick covariance...</x,y>

Plasma Gasification Melting (PGM) is a novel gasification technology which offers a promising treatment of low-heating-value fuels like municipal solid waste (MSW), medical waste (MW) and other types of waste. By considering the differences in pyrolysis characteristics between cellulosic...

We demonstrate that the Varian (1980) model of sales has a unique Nash equilibrium when firms incur costly advertising to compete for informed consumers. The equilibrium is symmetric. In particular, with costly advertising, the asymmetric equilibria highlighted by Baye et al. (1992) do not arise.

A new carbon capture and recycle (CCR) system based on multi-reforming of CH4 with CO2 is proposed in this study. The aim was to develop a novel method to remediate greenhouse gases (CO2) using a high temperature (over 1173 K) process of reforming CH4 and/or O2, and/or H2O without catalysts....

Traffic congestion will continue to worsen and likely worsen at a faster rate than ever. People throughput and freight throughput have become critical issues for California and the rest of the nation. PATH has funded with approximately $125K a research project entitled "Evaluation of Bus and...