Purpose: Prior research mostly focuses on the effect of over-education on happiness, whereas the effect of under-education on happiness has received minimal attention. In addition, no research to date has examined the effect of both over- and under-education on happiness by using a full...

In this empirical study, we apply the Tobit-GARCH model to investigate the intervention function of the Bank of Japan (BoJ) in the JPY/USD exchange market. The proposed model has the advantage of handling intervention data with both a majority of zero observations and conditional...

This paper explores the effect of an up-front payment to contracts under the reliance damage measure. We find that the efficiency in most cases fails, but can be obtained by a high enough total payment to assume away the seller’s breach, a high enough up-front payment to ensure that the seller...