This paper is concerned with the estimation of the volatility process in a stochastic volatility model of the following form: $dX_t=a_tdt+\sigma_tdW_t$, where $X$ denotes the log-price and $\sigma$ is a c\`adl\`ag semi-martingale. In the spirit of a series of recent works on the estimation of...

A dynamical model to describe the behavior of a traffic line is proposed. The model incorporates the wishes of the drivers, following the ideas of Prigogine and collaborators. Interactions among cars are described in a stochastic way, by means of a probability of passing. Results of computer...

A method for finding the state distribution in a physical system, on the basis of a detailed analysis of the experimental response of the system to an external probe, is presented. The concomitant algorithm, based upon the maximum entropy principle, is specifically devised so as to take into...

In the present paper we present an experimental analysis and a thermal and hydrodynamic modelling of a newly designed flat-plate solar collector characterized by its corrugated channel and by the high surface area directly in contact with the heat transport fluid. The thermal and hydrodynamic...

Agricultural production estimates have often differentiated and estimated different technologies within a sample of farms. The common approach is to use observable farm characteristics to split the sample into groups and subsequently estimate different functions for each group. Alternatively,...

This article explores the relationship between milk quota values and economic efficiency in order to analyze government interventions in quota allocations among producers. For this purpose, we estimate quota values using a panel of Spanish dairy farms. Quota values are then decomposed into...

Managerial ability has important implications for farm growth. In this article we first show in a production model that increasing output with a fixed level of managerial ability can lead to a decrease in profits. Next, we discuss the effect that managerial ability has on economies of size. In...