In this article we use spatial birth-death processes to estimate the number of states k of a switching model. Following Preston (1976) and Stephens (1998) matching the detailed balance condition for the underlying birth-death process results in an unique invariant probability measure with the...

In this paper we investigate the potential of the analysis of noisy non-stationary time series by quantizing it into streams of discrete symbols and applying finite-memory symbolic predictors. The main argument is that careful quantization can reduce the noise in the time series to make model...

Autoren-Abstract: This paper solves a long-standing open problem in mathematical finance: to find a solution to the problem of maximizing utility from terminal wealth of an agent with a random endowment process, in the general, semimartingale model for incomplete markets, and to characterize it...

This paper introduces bagged clustering as a new exploratory approach in the field of market segmentation research which offers a few major advantages over both hierarchical and partitioning algorithms, especially when dealing with large binary data sets.

Gemäß Alfred Korzybski (1921) unterscheidet sich der Mensch von Pflanzen und Tieren unter anderem durch seine Eigenschaft als "Zeit-Binder". Diese befähigt ihn, Erfahrung durch die Zeit zu transportieren. Menschen können Wissen aus der Vergangenheit ansammeln und das, was sie wissen, der...

This paper studies incentive schemes of knowledge distribution.

This paper accompanies a previous one from 1999 by D. Kramkov and the present author. There, we considered utility functions $U:\R_+ \to \R$ satisfying the Inada conditions $U'(0)=\infty$ and $U'(\infty)=0$, in the present paper we consider utility functions $U:\R\to\R$ which are finitely...

Firstly rather accurate approximations to the p value functions of the common Standard CUSUM test and the OLS-based CUSUM test for structural change are derived...

A simulation environment for exploring analytical tools and joint segmentation and brand positioning strategies is tailored to comply with the perceptions-based approach to market segmentation. The initial version contains a number of ad hoc segmentation strategies....

While many marketing models ignore the influence of financial variables on a firm's marketing strategy, this paper explores the effect of debt on the profit maximizing price for a new product. We assume a duopolistic market structure in which two firms produce a heterogeneous new consumer...