Neural networks can forecast economic data with accuracy matching that of conventional autoregressive methods such as SARIMA and VAR. This study uses dense, recurrent, convolutional, and convnet/RNN hybrids to conduct time-series analysis of interest rates, consumer and producer prices, and...

Wickard v. Filburn, 317 U.S. 111 (1942), represented a pivotal moment in the Supreme Court's effort to determine the scope of Congress's power quot;[t]o regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes.quot; Together with NLRB v. Jones amp;...

In his celebrated 1959 lecture, quot;The Two Cultures,quot; C.P. Snow excoriated the conflict between the scientific and literary cultures. That conflict still resonates in a society crippled by cultural divides over a wide range of scientifically sophisticated issues, such as climate change,...

Uncertainty affects all aspects of economics. A principle this vital demands a mathematically precise definition. The distinction between risk and uncertainty, as made by Frank Knight (1921) and John Maynard Keynes (1937), invites the following definition (Anderson, Ghysels & Juergens 2009): An...

The conventional capital asset pricing model (CAPM) has come under severe attack for its failure to reflect investor behavior. This paper describes financial decision-making under uncertainty in formal mathematical terms as a generalized higher-moment capital asset pricing model. It develops...

Models for predicting business bankruptcies have evolved rapidly. Machine learning is displacing traditional statistical methodologies. Three distinct techniques for approaching the classification problem in bankruptcy prediction have emerged: single classification, hybrid classifiers, and...

This paper presents a physical model of the Gini coefficient and its corresponding Lorenz curve. If the Lorenz curve is scaled to 1, then 1 represents gross domestic income, gross domestic product, or societal wealth. The value 1 also represents total population. On these assumptions, the value...

The greatest vectors of biodiversity loss today are climate change, habitat destruction, invasive species, pollution, population, and overkill. Climate change, habitat destruction, and alien invasive species should figure more prominently than overkill and the marketing of products derived from...

Many law schools in the United States condition financial aid grants on the recipients' maintenance of a certain grade point average. These merit stipulations require students to meet or exceed minimum academic standards in order to keep all or part of their financial aid. Law students should...

Econophysics applies the techniques of physics and nonlinear dynamics to complex economic problems. This essay invokes econophysics in order to introduce a theoretical model that aspires to encompass all essential features of real financial markets. It summarizes the central argument of my book,...