This common aim provides a general framework for specifying, estimating, and testing time series econometric models using maximum entropy bootstrap (MEB) to test with data in time series from Stock Market of Thailand. The MEB is quantitatively reviewed for the first time to investigate the...

An underlying assumption of deterministic evolutionary game dynamics is that all individuals interact with each other in infinite populations, which seems unrealistic since in reality populations are always finite in size and even disturbed by stochastic effects and random drift. Developed in...

Financial bubble is an intensively discussed but quite controversial topic. In current literature, the researches usually focus on the (ir)rationality of traders and its impacts on the bubble. We thereby propose a completely different perspective, that is, of traders’ heterogeneity and its...

Various studies have shown the emergence of cooperative behavior in evolutionary models with repeated local interaction among spatially distributed agents. We investigate to what extent these findings generalize to evolutionary models of price competition among spatially distributed firms. We...

Using virtual stock markets with artificial interacting software investors, aka agent-based models, we present a method to reverse engineer real-world financial time series. We model financial markets as made of a large number of interacting boundedly rational agents. By optimizing the...

In this study, we empirically investigate the relationship between financial and auditing requirements, capital requirements, official supervisory power, and the likelihood of receiving a qualified audit opinion. The sample consists of 71 qualified financial statements and 17,526 unqualified...

We analyze and compare the errors of two numerical approaches for measuring compensated income. We prove that Vartia’s algorithm and Breslaw and Smith’s algorithm both converge quadratically; when the price change within each partition step is small, the error of Vartia’s algorithm is...

The strong relationship between bank failure and economic growth attaches far more importance to the predictability of bank failures. Consequently, numerous statistical prediction models exist in the literature focusing on this particular subject. Besides, artificial intelligence techniques...

The purpose of this article is to present a novel genetic programming trading technique in the task of forecasting the next day returns when trading the EUR/USD exchange rate based on the exchange rates of historical data. Aiming at testing its effectiveness, we benchmark the forecasting...