The multi-period multinomial Probit model (MMPM) is seen as a flexible tool to explain individual choices among several alternatives over time. There are two versions of this model: a) for each individual the covariates for all alternatives are known and b) for each individual only the...

This paper empirically evaluates the validity of the term structure of interest rates in a low-interest-rate environment. Applying a time-series method to high-frequency Japanese data, the term-structure model is found to be useful for economic analysis only when interest rates are high. When...

Using the ARFIMA-FIGARCH model, this paper studies the efficiency of the Japanese equity market by examining the statistical properties of the return and volatility of the Nikkei 225. It shows that both follow a long range dependence, which stands against the efficient market hypothesis (EMH)....

Single-molecule force spectroscopy experiments, and a number of other physical systems, are governed by thermally activated transitions out of a metastable state under the action of a steadily increasing external force. The main observable in such experiments is the distribution of the forces,...

The typical two-parameter Weibull is a flexible distribution that is useful for describing unimodal frequency distributions of wind speeds at many sites. A two-component mixture Weibull distribution (WW-probability distribution function (pdf)) is even more useful because it is additionally able...