In this paper we suggest that duration judgments of a given episode made after a time delay arise from a process that is fundamentally different from judgments made online or immediately after the episode. We propose a memory-based process called the "snapshot model." In our model, the human...

Advances in digital technology are expanding the boundaries of firms. Digital platform firms, which leverage a "platform" to create value through facilitating exchanges between two or more interdependent groups, are the new disrupters in the market. They exhibit distinct features such as scale...

In this paper we study nonparametric estimation and hypothesis testing procedures for the functional coefficient AR (FAR) models of the form Xt = f1(Xt-d)Xt-1 +…+ fp(Xt-d)Xt-p +εt, first proposed by Chen and Tsay (1993). As a direct generalization of the linear AR model, the FAR model is a...

Risk parity, also known as equal risk contribution, has recently gained increasing attention as a portfolio allocation method. However, solving portfolio weights must resort to numerical methods as the analytic solution is not available. This study improves two existing iterative methods: the...

Risk parity, also known as equal risk contribution, has recently gained increasing attention as a portfolio allocation method. However, solving portfolio weights must resort to numerical methods as the analytic solution is not available. This study improves two existing iterative methods: the...

Despite the commitments of the development community toward broader access to finance, financial inclusion rates worldwide are rather unsatisfactory. To date, around two billion adults do not have access to basic financial services such as savings and checking accounts. Attempting to bridge such...

A robust data governance regulatory environment, encompassing both safeguards that protect the rights of market players and enablers that facilitate use/reuse of data, provide an important foundation for trust in the data economy. This paper presents the methodology and findings from a Global...

Mobile technologies show great potential to accelerate internet access and usage, especially in developing countries. A better understanding of key drivers and main constraints for mobile internet access is the first prerequisite for governments to design targeted policy solutions. This study...