We examine three aspects of investors? divergence of opinion in the context of takeovers.First we examine the effect of divergence of opinion and short sale constraints on merger announcement returns. To our knowledge, no study has analysed this combined effect for acquirers and targets. Using a...

This paper identifies forecasts of exceptions in product or service demand (i.e., large changes or extreme values) as a special need in forecasting, requiring new forecast accuracy measures based on the tails of sampled forecast error distributions. For this purpose, the paper introduces...

This paper deals with the optimal transfer of binary information (BIT) on group membership between different statistical surveys of an identical population, a need arising frequently in socio-economic surveys. The limited number of questions asked in any one survey may necessitate information...

Many countries around the world have implemented subsidies for utility consumption, especially in the case of water and electricity. Most subsidies take the form of a lifeline or increasing block tariff, whereby households that consume less pay less on a unit basis. The idea is that households...