We provide a general overview of Bayesian model averaging (BMA) along with the concept of jointness. We then describe the relative merits and attractiveness of the newest BMA software package, BMS, available in the statistical language R to implement a BMA exercise. BMS provides the user a wide...

This work describes a versatile and readily-deployable sensitivity analysis of an ordinary least squares (OLS) inference with respect to possible endogeneity in the explanatory variables of the usual k-variate linear multiple regression model. This sensitivity analysis is based on a derivation...

Using the capital asset pricing model, this article critically assesses the relative importance of computing 'realized' betas from high-frequency returns for Bitcoin and Ethereum-the two major cryptocurrencies-against their classic counterparts using the 1-day and 5-day return-based betas. The...

This paper discusses and illustrates the analytical foundations of international comparisons (or benchmarking) for assessing a country's potential for improvement along various dimensions of social and economic development. By providing a methodology for international benchmarking, discussing...

This paper primarily reviews the panel stochastic frontier (SF) model in which the composite error term εit has four components, i.e. εit=τi−ηi+vit−uit, where ηi and uit are the persistent and transient inefficiency components, τi is the random firm effect and vit is the random noise....

A general assumption of the standard hedonic price model is that producers produce outputs/ services efficiently, and deviations from this situation are assumed to involve either overcharging or undercharging. Using the profit maximising behaviour, we derive an alternative hedonic model to show...