Intermittent demand is often defined as random demand with a large proportion of zero values (Silver, 1981). However, the terms ‘intermittent demand', ‘lumpy demand', and ‘erratic demand' are used interchangeably in the literature. There is also a widely held misconception that low demand...

We test three common information criteria (IC) for selecting the order of a Hawkes process with an intensity kernel that can be expressed as a mixture of exponential terms. These processes find application in high-frequency financial data modelling. The information criteria are Akaike's...

We examine a specific form of what we term analyst contrarianism. We define contrarianism as cases where an analyst expresses a summary opinion contrary to the direction of a given earnings surprise or revision. Distinct from analyst optimism or boldness, we document that analysts interpret...

Utility function is the most important concept in economic theory. In academic literature, utility functions can take various forms. We prove that under a very general condition, utility function is the logarithmic function