This paper implements a novel approach that allows for asymmetry in volatilities and idiosyncratic deviations from normality to address distinct features in the evolving relationship between onshore and offshore RMB exchange rate returns. Against a backdrop of growing integration since 2015, the...

Consumer choice of differentiated products, such as wine, depends on the composition of the choice set consumers are choosing from. However, choice sets are often situationally defined through wine-tasting lists or displayed wines in a particular tasting and sales environment. In this paper, we...