The cyclicality and volatility of property prices have been extensively documented. Many explanations have been …

most significant finding is the extreme volatility of the index according to the divers interpretations given to legal data …

position "hold". We develop the corresponding theory within the framework of the microcanonical and canonical ensembles for an …

-Tversky choice experiments, which are concrete examples of menus of lotteries that highlighted flaws in expected utility theory and … generation and develop two algorithmic procedures to generate anomalies (if they exist) when provided a formal theory and data … that the theory seeks to explain. Our algorithmic procedures are general since anomalies play an important role across a …

The ranking of multivariate volatility models is inherently problematic because when the unobservable volatility is … the size of the distortion is strictly tied to the level of the accuracy of the volatility proxy. We propose a generalized …

framework. This paper examines the ranking of multivariate volatility models in terms of their ability to forecast out … evaluate the distance between the true covariance matrix and its forecast. The evaluation of multivariate volatility models … requires the use of a proxy for the unobservable volatility matrix which may shift the ranking of the models. Therefore, to …