In the past few decades considerable effort has been expended in characterizing and modeling financial time series. A number of stylized facts have been identified, and volatility clustering or the tendency toward persistence has emerged as the central feature. In this paper we propose an...

We investigate whether residential development patterns from a rapidly growing exurban area are consistent with the urban economic model's predictions of leapfrog and infill development. Using historical data on subdivision development from 1960-2005 in the Baltimore, Maryland region, we develop...

Variation in regulatory costs over time and across different types of investment projects creates risk for developers who hold land. These so-called implicit costs, which arise as a result of regulatory delay in the land development process, are hypothesized to be potentially large, but...

In a competitive market situation, a symmetric price transmission is expected, and the speed of adjustment of the market should be equal, no matter in which direction input prices are going (up or down). When inputs' prices increase, firms need to pass on costs to avoid negative profit...

The technical basis for extending the Model 9977 shipping package periodic maintenance beyond the one-year interval to a maximum of five years is based on the performance of the O-ring seals and the environmental conditions. The DOE Packaging Certification Program (PCP) has tasked Argonne...

Empirical studies show that the most successful continuous-time models of the short term rate in capturing the dynamics are those that allow the volatility of interest changes to be highly sensitive to the level of the rate. However, from the mathematics, the high sensitivity to the level...

As a strategy for enterprises to expand the scale of their operations, brand extension could also generate feedback effect diluting parent brand's customer equity. This study proposes and estimates a theoretical model examining the influence of brand extension on the drivers of parent brand's...

When a supplier experiences a disruption, it learns how to better prevent and recover from future disruptions. As suppliers learn to become more resilient, the overall supply network also learns to become more resilient. This research draws on the organizational learning literature to introduce...

Exponential bandits are widely adopted in economics and marketing due to their tractability. This paper analyzes the one-agent multi-armed account of exponential bandits, where the agent dynamically selects arms to maximize total payoff. We motivate our base model by examples with arms being of...