To what extent does the institution of insurance influence a system of compensation for personal injury? On the one hand, some academics have suggested that insurance has been no more than a “makeweight” argument in the development of tort liability. On the other hand, others have claimed...

Suppose the stationary r-dimensional multivariate time series {yt} is generated by an infinite autoregression. For lead times h=1, the linear prediction of yt+h based on yt, yt-1,... is considered using an autoregressive model of finite order k fitted to a realization of length T. Assuming that...