We propose using a permutation test to detect discontinuities in an underlying economic model at a known cutoff point. Relative to the existing literature, we show that this test is well suited for event studies based on time-series data. The test statistic measures the distance between the...

Correct specification of a conditional quantile model implies that a particular conditional moment is equal to zero. We nonparametrically estimate the conditional moment function via series regression and test whether it is identically zero using uniform functional inference. Our approach is...

Purpose: The purpose of this paper is to choose a optimal routing in fourth party logistics (4PL) with the objective of transportation cost minimization under reliability level constraint. Design/methodology/approach: Reliability theory is applied to routing optimization problem. A mathematical...

Biodiesel from jatropha has been considered as a promising alternative to fossil fuels for some time. Consequently, China started promoting jatropha as one of the options to meet its ever-increasing energy consumption, and the Chinese biodiesel industry also gained interest. However, the...

We develop tests for deciding whether a large cross-section of asset prices obey an exact factor structure at the times of factor jumps. Such jump dependence is implied by standard linear factor models. Our inference is based on a panel of asset returns with asymptotically increasing...

We present a new theory for the conduct of nonparametric inference about the latent spot volatility of a semimartingale asset price process. In contrast to existing theories based on the asymptotic notion of an increasing number of observations in local estimation blocks, our theory treats the...