Purpose – The paper aims to test the rational-expectations hypothesis using data from the Chinese stock market. Design/methodology/approach – The rational-expectations hypothesis plays a critical role in economic and financial studies. However, it is unclear whether this hypothesis is...

Purpose – The paper aims to test the rational-expectations hypothesis using data from the Chinese stock market. Design/methodology/approach – The rational-expectations hypothesis plays a critical role in economic and financial studies. However, it is unclear whether this hypothesis is...

This paper introduces uncertainty regarding the proportion of informed traders in a rational expectation equilibrium model with asymmetric information. The proportion uncertainty dramatically changes the properties of the resulting equilibrium. First, it may generate multiple nonlinear rational...

Value-at-risk (VaR) and expected shortfall (ES) are now both widely used risk measures. However, users have not paid much attention to the estimation risk issues, especially in the case of heteroskedastic financial time series. The key challenge arises from the fact that the estimated...

The limited dispatchability of wind energy poses a challenge to its increased penetration. One technically feasible solution to this challenge is to integrate a battery energy storage system (BESS) with a wind farm. This highlights the importance of a BESS control strategy. In view of this, a...

In this paper, we present multi-almost periodicity of a general class of discrete-time neural networks derived from a well-known semi-discretization technique, that is, coexistence and exponential stability of 2N almost periodic sequence solutions of discrete-time neural networks subjected to...

Disease-modifying (DM) trials on chronic diseases such as Alzheimer’s disease (AD) require a randomized start or withdrawal design. The analysis and optimization of such trials remain poorly understood, even for the simplest scenario in which only three repeated efficacy assessments are...

Using a panel cointegration approach to estimate the agricultural total factor productivity in China

In this paper, the notion of the improved ridge estimator (IRE) is put forward in the linear regression model <bold>y</bold>=<bold>X</bold> <bold>β</bold>+<bold>e</bold>. The problem arises if augmenting the equation <bold>0</bold>=<bold>c</bold>′<bold>α</bold>+<bold>ε</b old> instead of <bold>0</bold>=<bold>C</bold> <bold>α</bold>+<bold>ϵ</bold> to the model. Three special IREs are considered and studied under the mean-squared error...<//b></bold>