This paper concerns the properties of the Quasi Maximum Likelihood Estimator (QMLE) of the Logarithmic Autoregressive Conditional Duration (Log-ACD) model. Proofs of consistency and asymptotic normality of QMLE for the Log-ACD model with log-normal density are presented. This is an important...

Network externalities -- the requirement that there be a group of subscribers if communications are to occur -- play a central role in the demand for new networks. And as telecommunications evolve, new networks have increasingly taken attention. In an effort to describe the demand for new...