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Decision making usually involves uncertainty and risk. Understanding which parts of the human brain are activated during decisions under risk and which neural processes underly (risky) investment decisions are important goals in neuroeconomics. Here, we reanalyze functional magnetic resonance...
Persistent link: https://www.econbiz.de/10010319198
In this paper uniform confidence bands are constructed for nonparametric quantile estimates of regression functions. The method is based on the bootstrap, where resampling is done from a suitably estimated empirical density function (edf) for residuals. It is known that the approximation error...
Persistent link: https://www.econbiz.de/10010270724
Let (X1, Y1), . . ., (Xn, Yn) be i.i.d. rvs and let l(x) be the unknown p-quantile regression curve of Y on X. A quantile-smoother ln(x) is a localised, nonlinear estimator of l(x). The strong uniform consistency rate is established under general conditions. In many applications it is necessary...
Persistent link: https://www.econbiz.de/10010274144
(High dimensional) time series which reveal nonstationary and possibly periodic behavior occur frequently in many fields of science. In this article, we separate the modeling of high dimensional time series to time propagation of low dimensional time series and high dimensional time invariant...
Persistent link: https://www.econbiz.de/10010281515
One popular approach for nonstructural economic and financial forecasting is to include a large number of economic and financial variables, which has been shown to lead to significant improvements for forecasting, for example, by the dynamic factor models. A challenging issue is to determine...
Persistent link: https://www.econbiz.de/10010281503
Persistent link: https://www.econbiz.de/10014504269
Die Rekordzahlen an Unternehmensinsolvenzen, die schlechte Ertragslage der deutschen Kreditinstitute in den vergangenen Jahren und der von Basel II ausgehende Druck zur Verwendung von realitätsnahen Ausfallwahrscheinlichkeiten haben es überdeutlich gemacht: Der Bedarf an leistungsfähigen...
Persistent link: https://www.econbiz.de/10011601557
Deep learning has substantially advanced the state of the art in computer vision, natural language processing, and other fields. The paper examines the potential of deep learning for exchange rate forecasting. We systematically compare long short-term memory networks and gated recurrent units to...
Persistent link: https://www.econbiz.de/10014504558
Persistent link: https://www.econbiz.de/10014521832
Modern econometrics requires implementation of highly specialized software. In contrast to mathematical arguments used in implementing new econometric techniques the corresponding software algorithms require specific platforms. The specialization of hardware and software, in fact, seriously...
Persistent link: https://www.econbiz.de/10010309903