Chen and Cook (2010) showed that the classical continuum regression with a nonzero tuning parameter may fail to produce a consistent estimator. In this article we show that the continuum regression with either slightly modified constraints or the tuning parameter being zero can estimate the...

Purpose–The purpose of this paper is to examine preferences of Chinese individual and institutional investors to cash dividends and stock dividends. Using categorized daily holding information from the TOPVIEW database, the authors test how percentage holdings of individuals and institutional...

The paper is a continuation of our paper, Wang and Wang (2013) [13], Chen and Wang  [4], and it studies functional inequalities for non-local Dirichlet forms with finite range jumps or large jumps. Let α∈(0,2) and μV(dx)=CVe−V(x)dx be a probability measure. We present explicit and sharp...

Baumol’s Cost Disease offers a compelling hypothesis of rising unit costs in stagnant sectors, but increased productivity in progressive sectors may generate the same prediction through income effects. We examine quantity (rather than expenditure) data from the U.S. educational sector to...