The nonparametric maximum likelihood estimator (NPMLE) is a popular approach to estimating decreasing densities, i.e., f(s)≥f(t),s≤t. A less ideal feature of NPMLE is its step-function form. In this paper, we propose two nonparametric density estimators based on the Bernstein-type...

The forward premium puzzle, or violation of the uncovered interest rate parity (UIP), has been documented by many. Studies, using methodologies more sophisticated than regression analysis, tend to suggest that the rejection of UIP may be false, due to cointegration, biased parameter estimates,...

This paper examines whether investor sentiment about the stock market affects prices of the S&P 500 options. The findings reveal that the index option volatility smile is steeper (flatter) and the risk-neutral skewness of monthly index return is more (less) negative when market sentiment becomes...

We analyze capital allocation in a conglomerate where divisional managers with uncertain abilities compete for promotion to CEO. A manager can sometimes gain by unobservably adding variance to divisional performance. Capital rationing can limit this distortion, increase productive efficiency,...

Purpose Sensorless passive lead-through programming (LTP) is a promising physical human-robot interaction technology that enables manual trajectory demonstrations based on gravity and friction compensation. The major difficulty lies in static friction compensation during LTP start-up. Instead of...

Purpose The purpose of this paper is to propose a new joint friction model, which can accurately model the real friction, especially in cases with sudden changes in the motion direction. The identification and sensor-less control algorithm are investigated to verify the validity of this model....

Purpose This paper aims to propose a hybrid force/position control algorithm based on the stiffness estimation of the unknown environment. A frequency-division control scheme is developed to improve the applicability and reliability of the robot in welding, polishing and assembly....

Purpose The purpose of this paper is to enhance control accuracy, energy efficiency and productivity of customized industrial robots by the proposed multi-objective trajectory optimization approach. To obtain accurate dynamic matching torques of the robot joints with optimal motion, an improved...