With an eye to providing a methodology for tracking the dynamic integrity of prices for important market indicators, in this paper we use Benford second digit reference distribution to track the daily London Interbank Offered Rate (Libor) over the period 2005-2008. This reference, known as...

Methods, like Maximum Empirical Likelihood (MEL), that operate within the Empirical Estimating Equations (E3) approach to estimation and inference are challenged by the Empty Set Problem (ESP). We propose to return from E3 back to the Estimating Equations, and to use the Maximum Likelihood...

Criterion choice is such a hard problem in information recovery and in estimation and inference. In the case of inverse problems with noise, can probabilistic laws provide a basis for empirical estimator choice? That is the problem we investigate in this paper. Large Deviations Theory is used to...

In this paper we demonstrate, in a parametric Estimating Equations setting, that the Empirical Likelihood (EL) method is an asymptotic instance of the Bayesian non-parametric Maximum-A-Posteriori approach. The resulting probabilistic interpretation and justifcation of EL rests on Bayesian...

Empirical Likelihood (EL) and other methods that operate within the Empirical Estimating Equations (E3) approach to estimation and inference are challenged by the Empty Set Problem (ESP). ESP concerns the possibility that a model set, which is data-dependent, may be empty for some data sets. To...

This paper is concerned with the problem of information recovery and measuring evidence that involves uncontrolled indirect noisy effects data and stochastic ill posed inverse problems in economics-econometrics. Information theoretic methods based on a multi parametric family of power divergence...

Apple’s original decision to market iPhones using a single downstream vendor prompted calls for mandatory universal distribution (MUD), whereby all downstream vendors would sell the iPhone under the same contract terms. The upstream monopoly may want eitherone or more downstream vendors,...

A large share of international trade occurs through intra-firm transactions. We show that this common cross-border organization of the firm has implications for the well-documented incomplete transmission of shocks across such borders. We present new evidence of an inverse relationship between a...

Although many theoretical industrial organization models are based on the existence of a critical mass of exogenously “brand loyal†consumers, we find little empirical evidence supporting these assumptions in the orange juice retail market. There are very few loyal consumers. More...

This report summarizes preliminary findings of the Mexican National Database and Community Survey Project which examines linkages between institutional characteristics in Mexico’s common property forestry sector and economic and environmental outcomes. Framing the Mexican agrarian...