Given any α ∈ [0, 1], an α-constant-sum game on a finite set of players, N, is a function that assigns a real number to any coalition S ⊆ N, such that the sum of the worth of the coalition S and the worth of its complementary coalition N\S is α times of the worth of the grand coalition....

In view of the nature of pursuing profit, a selfish coefficient function is employed to describe the degrees of selfishness of players in different coalitions, which is the desired rate of return to the worth of coalitions. This function brings in the concept of individual expected reward to...

This papers offers a theoretical explanation for the stylized fact that forecast combinations with estimated optimal weights often perform poorly in applications. The properties of the forecast combination are typically derived under the assumption that the weights are fixed, while in practice...

Regarding the asymmetric and leptokurtic behavior of financial data, we propose a new contagion test in the quantile regression framework that is robust to model misspecification. Unlike conventional correlation-based tests, the proposed quantile contagion test allows us to investigate the stock...