With its recently announced strategy "Europe 2020", the European Union picks up two major challenges: transforming the economy into a knowledge society with innovation as the main driver of economic growth and cohering a population whose workforce is shrinking and aging. Two benchmarks of this...

Under most reliability model assumptions, all failures in a population are considered to come from the same distribution. Each individual failure time is assumed to provide information about the likely failure times of all other devices in the population. However, from time to time, process...

This study examined the theoretical basis for decision making behavior of patients with right or left temporal lobectomy and a control group when they participated in the Iowa Gambling Task. Two cognitive decision models, Expectancy Valence Model and Strategy Switching Heuristic Choice Model,...

An important empirical fact in financial market is that return distributions are often skewed and heavy-tailed. This paper employs maximum likelihood estimation to estimate the five parameters of generalized hyperbolic distribution, a highly flexible heavy-tailed distribution. The estimation...

Despite their success and widespread usage in industry and business, ES methods have received little attention from the statistical community. We investigate three types of statistical models that have been found to underpin ES methods. They are ARIMA models, state space models with multiple...

This paper develops a maximum likelihood based method for simultaneously performing multidimensional scaling and cluster analysis on two-way dominance or profile data. This MULTICLUS procedure utilizes mixtures of multivariate conditional normal distributions to estimate a joint space of...

The vast majority of existing multidimensional scaling (MDS) procedures devised for the analysis of paired comparison preference/choice judgments are typically based on either scalar product (i.e., vector) or unfolding (i.e., ideal-point) models. Such methods tend to ignore many of the essential...

This paper presents a new stochastic multidimensional scaling procedure for the analysis of three-mode, three-way pick any/ J data. The method provides either a vector or ideal-point model to represent the structure in such data, as well as “floating” model specifications (e.g., different...

The psychometric and classification literatures have illustrated the fact that a wide class of discrete or network models (e.g., hierarchical or ultrametric trees) for the analysis of ordinal proximity data are plagued by potential degenerate solutions if estimated using traditional nonmetric...