This paper proposes Pearson-type statistics based on implied probabilities to detect structural change. The class of generalized empirical likelihood estimators (see Smith (1997)) assigns a set of implied probabilities to each observation such that moment conditions are satisfied. The proposed...

This paper combines different aggregate-level data sets to identify new product demand in consumer packaged goods (CPG) categories. Our approach augments market-level time-series data with widely available summaries of household purchase behavior, i.e., brand penetration and purchase set size...

This paper analyzes return patterns and determinants at the Oslo Stock Exchange (OSE) in the period 1980--2006. We find that a three-factor model containing the market, a size factor and a liquidity factor provides a reasonable fit for the cross-section of Norwegian stock returns. As expected,...

This study relates the story of a start-upconsulting firm in Sweden, using concepts drawn from Mikhail Bakhtin aboutunderstanding life as a process of becoming and as a moving dialogue betweenhuman beings. Entrepreneurial activity is shown to be an inherent part ofeveryday life. The author uses...

This paper integrates dynamic loss aversion and individual narrow framing in the investor utility function. The paper investigates investor behavior following the public announcement of earnings. To do this, the author optimizes the objective function of investor preference and analyzes to what...