This study examines the relative importance of liquidity risk for the time-series and cross-section of stock returns in the UK. We propose a simple way to capture the multidimensionality of illiquidity. Our analysis indicates that existing illiquidity measures have considerable asset specific...

A one-dimensional driven diffusive system with two types of particles and nearest neighbors’ interactions has been considered on a finite lattice with open boundaries. The particles can enter and leave the system from both ends of the lattice and there is also a probability for converting the...

The complicated nature of materials often necessitates a statistical approach to understanding and predicting their underlying physics. One such example is the empirical Weibull distribution used to describe the fracture statistics of brittle materials such as glass and ceramics. The Weibull...