159 Result(s)
within
Economics
Operations Research/Decision Theory
**mo Wang
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Article
A stock selection strategy using fuzzy neural networks
This paper describes, from a general system-design perspective, an artificial neural network (ANN) approach to a stock selection strategy. The paper suggests a concept of neural gates which are similar to the pro...
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The Becker-DeGroot-Marschak mechanism and generalized utility theories: Theoretical predictions and empirical observations
Karni and Safra [8] prove that the Becker-DeGroot-Marschak mechanism reveals a decision maker's true certainty equivalent of a lottery if and only if he satisfies the independence axiom. Segal [17] claims that...
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Cost effects of mergers and deregulation in the U.S. Rail industry
We attempt to disentangle the effects of deregulation on rail costs from those directly attributable to mergers and acquisitions, employing a translog variable cost function, based on an unbalanced panel data ...
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A Stochastic Nonlinear Regression Estimator Using Wavelets
A new wavelet-based estimator is introduced which combines the state-space model with the wavelet transform in an effort to explore the stock market inefficiency. The new estimator possesses some superior qual...
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An Introduction to Simulated Annealing Algorithms for the Computation of Economic Equilibrium
Economic equilibrium computation has raised the issue of global optimization algorithms since economic equilibrium problems can be cast as a global optimization problem. However, nearly all conventional algori...
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A Wavelet-Based Nonparametric Estimator ofthe Variance Function
A new wavelet-based nonparametric estimator is introduced in an effort toapproximate variance functions. The new estimator possesses some superiorqualities that are illustrated through its actual performance i...
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Separating equilibria in a continuous-time bargaining model with two-sided uncertainty
In this paper, we analyze the class of all smooth separating sequential equilibria in a continuous-time bargaining model with two-sided uncertainty. Trade between players occurs whenever there is surplus to b...
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One-Step and Two-Step Estimation of the Effects of Exogenous Variables on Technical Efficiency Levels
Consider a stochastic frontier model with one-sided inefficiency u, and suppose that the scale of u depends on some variables (firm characteristics) z. A “one-step” model specifies both the stochastic frontier an...
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Heteroscedasticity and Non-Monotonic Efficiency Effects of a Stochastic Frontier Model
We consider a model that provides flexible parameterizations of the exogenous influences on inefficiency. In particular, we demonstrate the model's unique property of accommodating non-monotonic efficiency eff...
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Simple random order methods to share costs
A simple random order method (SROM) is an extension of Weber’s random order values (ROVs), which allows the convex weights on orderings of agents to depend on the set of agents with strictly positive demands. ...
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Strategic Interactions of Bilateral Monopoly on a Private Highway
This paper investigates strategic interactions between a private highway operator and a private transit operator who uses the same highway for its services. Heterogeneity of travellers is taken into account by...
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Comparisons of Economic Inefficiency Between Output and Input Measures of Technical Inefficiency Using the Fourier Flexible Cost Function
The current paper constructs a Fourier flexible cost function, which is commonly known to be a more general function form than the typical translog form, and can globally approximate a true (but unknown) cost ...
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Incorporating Framing into Prospect Theory Modeling: A Mixture-Model Approach
This paper illustrates the use of a statistical technique, finite mixture models, to fit the parameters in cumulative prospect theory. For a given decision, some individuals may adopt a gain frame, while other...
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Estimating the Potential Gains from Mergers
We introduce simple production economic models to estimate the potential gains from mergers. We decompose the gains into technical efficiency, size (scale) and harmony (mix) gains, and we discuss alternative w...
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Product Market Competition, Skill Shortages and Productivity: Evidence from Canadian Manufacturing Firms
In this paper, we estimate the impacts of product market competition and skill shortages on the productivity level performance of Canadian manufacturing firms. We use firms’ perceptions of their competitive en...
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The Application of Mathematical Programming Approaches to Estimating Container Port Production Efficiency
Container terminal production is both an important and complicated element in the contemporary global economy. This paper aims to evaluate the efficiency of the world’s most important container ports and termi...
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Prospect theory for continuous distributions
We extend the original form of prospect theory by Kahneman and Tversky from finite lotteries to arbitrary probability distributions, using an approximation method based on weak-⋆ convergence. The resulting for...
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Coalition formation in the presence of continuing conflict
This paper studies endogenous coalition formation in a rivalry environment where continuing conflict exists. A group of heterogeneous players compete for a prize with the probability of winning for a player de...
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Mode Selection for Automotive Distribution with Quantity Discounts
This paper studies an automotive distribution network with two transportation modes: railway and highway. Because lead-time influences the turnaround rate of expensive railcars and volume has a large impact on...
