Two asymptotic frameworks, increasing domain asymptotics and infill asymptotics, have been advanced for obtaining limiting distributions of maximum likelihood estimators of covariance parameters in Gaussian spatial models with or without a nugget effect. These limiting distributions are known to...

This study investigates market price integration by testing per-share trade execution price or cost (TEP/C) differentials for matched intraday trades for a sample of Canadian shares cross-listed in the U.S. The TSE trade price advantage over the entire time period changed significantly after...

County-based group crop insurance is not effective to growers in counties with heterogenous production practice. A model-based cluster and classification method is developed to facilitate the information needed in the study of sub-county-zone-based crop insurance. Wheat yield data from Whitman,...

Various characterizations of the univariate normal distribution are presented.

We study properties of random fields that form conditional bases and their applications in spatial statistics.

This paper tests the overreaction hypothesis using monthly data for stocks listed on the Toronto Stock Exchange over the 1950–1988 period. Unlike De Bondt and Thaler (1985), (1987), it finds statistically significant continuation behavior for the next one (and two) year(s) for winners and...

We propose a framework in light of the delay effect to model the asymmetry of multivariate covariance functions that is often exhibited in real data. This general approach can endow any valid symmetric multivariate covariance function with the ability of modeling asymmetry and is very easy to...

Additional evidence on the importance of independent board directors is provided. A positive and statistically significant link between the shareholder wealth effects of acquisition decisions and the percentage of outside board directors is found. This result is controlled for the possible...

In this paper, we investigate the integrated information and pricing strategy for a seller who can take customer preorders before the release of a product. The preorder option enables the seller to sell a product at an early stage when consumers are less certain about their valuations. We find...