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Changes in technologies and in consumer demands have made prior radio spectrum allocations far from efficient. To address this problem the FCC has recently reallocated spectrum for more flexible u...
On An Efficient Two-Step Estimator for Dynamic Simultaneous Equation Models with Autoregressive Errors.
Efficient entry     Efficient entry  Entry  Commitment       2015/7/17
We present a dynamic entry game, in which entry costs become sunk gradually. In equilibrium the most profitable firms enter, as they commit faster not to exit. This rationalizes an equilibrium select...
We introduce a trade strategy representation theorem for performance measurement and portable alpha in high fre-quency trading, by embedding a robust trading algorithm that describe portfolio manager ...
Sharp asymptotic lower bounds of the expected quadratic variation of discretization error in stochastic integration are given. The theory relies on inequalities for the kurtosis and skewness of a gene...
In this article, the author comments on the performance of the equity markets in New York. The author mentions that the sector experienced extraordinary returns in the third quarter of 2009, but it is...
The article stresses the need of the U.S. courts to look to the date that the information on insider trading was disclosed to determine the amount of the defendant's gains. It discusses the statutory ...
The LIBOR market model is very popular for pricing inter- est rate derivatives, but is known to have several pitfalls. In addition, if the model is driven by a jump process, then the complexity of t...
This paper presents unique survey results with opinions on the competitive supply and efficient energy use, sources of energy and renewable sources of energy. The multivariate factor analysis with thr...
The importance of counterparty credit risk to the derivative contracts was demonstrated consistently throughout the financial crisis of 2008. Accurate valuation of Credit value adjustment (CVA) is ess...
Given the return series for a set of instruments, a \emph{trading strategy} is a switching function that transfers wealth from one instrument to another at specified times. We present efficient algor...
The possibility that the collective dynamics of a set of stocks could lead to a specific basket violating the efficient market hypothesis is investigated. Precisely, we show that it is systematically...
I prove that if markets are weak-form efficient, meaning current prices fully reflect all information available in past prices, then P = NP, meaning every computational problem whose solution can be ...
We propose a computational procedure to find the efficient frontier for the standard Markowitz mean-variance model with discrete variables. The integer constraints limit on the one hand the portfolio ...

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