Hardbound. A comprehensive reference work for teaching at graduate level and research in empirical finance. The chapters cover a wide range of statistical and probabilistic methods applied to a variety of financial methods and are written by internationally renowned experts.

This handbook presents a systematic overview of approaches to, diversity, and problems involved in interdisciplinary rating methodologies. Historically, the purpose of ratings is to achieve information transparency regarding a given body's activities, whether in the field of finance, banking, or sports for example. This book focuses on commonly used rating methods in three important fields: finance, sports, and the social sector. In the world of finance, investment decisions are largely shaped by how positively or negatively economies or financial instruments are rated. Ratings have thus become a basis of trust for investors. Similarly, sports evaluation and funding are largely based on core ratings. From local communities to groups of nations, public investment and funding are also dependent on how these bodies are continuously rated against expected performance targets. As such, ratings need to reflect the consensus of all stakeholders on selected aspects of the work and how to evaluate their success. The public should also have the opportunity to participate in this process. The authors examine current rating approaches from a variety of proposals that are closest to the public consensus, analyzing the rating models and summarizing the methods of their construction. This handbook offers a valuable reference guide for managers, analysts, economists, business informatics specialists, and researchers alike.

Volume 40 in the Advances in Econometrics series features twenty-three chapters that are split thematically into two parts. Part A presents novel contributions to the analysis of time series and panel data with applications in macroeconomics, finance, cognitive science and psychology, neuroscience, and labor economics. Part B examines innovations in stochastic frontier analysis, nonparametric and semiparametric modeling and estimation, A/B experiments, big-data analysis, and quantile regression. Individual chapters, written by both distinguished researchers and promising young scholars, cover many important topics in statistical and econometric theory and practice. Papers primarily, though not exclusively, adopt Bayesian methods for estimation and inference, although researchers of all persuasions should find considerable interest in the chapters contained in this work. The volume was prepared to honor the career and research contributions of Professor Dale J. Poirier. For researchers in econometrics, this volume includes the most up-to-date research across a wide range of topics.

This book provides the first comprehensive introduction to multi-agent, multi-choice repetitive games, such as the Kolkata Restaurant Problem and the Minority Game. It explains how the tangible formulations of these games, using stochastic strategies developed by statistical physicists employing both classical and quantum physics, have led to very efficient solutions to the problems posed. Further, it includes sufficient introductory notes on information-processing strategies employing both classical statistical physics and quantum mechanics. Games of this nature, in which agents are presented with choices, from among which their goal is to make the minority choice, offer effective means of modeling herd behavior and market dynamics and are highly relevant to assessing systemic risk. Accordingly, this book will be of interest to economists, physicists, and computer scientists alike.

This book explores a wide range of issues related to the methodology, organization, and technologies of analytical work, showing the potential of using analytical tools and statistical indicators for studying socio-economic processes, forecasting, organizing effective companies, and improving managerial decisions. At the level of "living knowledge" in the broad context, it describes the essence of analytical technologies and means of applying analytical and statistical work. The book is of interest to readers regardless of their specialization: scientific research, medicine, pedagogics, law, administrative work, or economic practice. Starting from the premise that readers are familiar with the theory of statistics, which has formulated the general methods and principles of establishing the quantitative characteristics of mass phenomena and processes, it describes the concepts, definitions, indicators and classifications of socio-economic statistics, taking into consideration the international standards and the present-day practice of statistics in Russia. Although concise, the book provides plenty of study material as well as questions at the end of each chapter It is particularly useful for those interested in self-study or remote education, as well as business leaders who are interested in gaining a scientific understanding of their financial and economic activities.

Recent advancements in data collection will affect all aspects of businesses, improving and bringing complexity to management and demanding integration of all resources, principles, and processes. The interpretation of these new technologies is essential to the advancement of management and business. The Handbook of Research on Expanding Business Opportunities With Information Systems and Analytics is a vital scholarly publication that examines technological advancements in data collection that will influence major change in many aspects of business through a multidisciplinary approach. Featuring coverage on a variety of topics such as market intelligence, knowledge management, and brand management, this book explores new complexities to management and other aspects of business. This publication is designed for entrepreneurs, business managers and executives, researchers, business professionals, data analysts, academicians, and graduate-level students seeking relevant research on data collection advancements.

The series is designed to bring together those mathematicians who are seriously interested in getting new challenging stimuli from economic theories with those economists who are seeking effective mathematical tools for their research. A lot of economic problems can be formulated as constrained optimizations and equilibration of their solutions. Various mathematical theories have been supplying economists with indispensable machineries for these problems arising in economic theory. Conversely, mathematicians have been stimulated by various mathematical difficulties raised by economic theories.

Analyzing the Gross National Product (GNP) and other national economic statistics is one way to look at the financial well being of a country. Another more revealing and more interesting way is to analyze the variety and amount of goods and services consumed by citizens, businesses, and the various levels of government. The "Handbook" presents a systematic and statistical portrait of consumption and wealth, allowing readers to better understand America's economic, political, and cultural landscape. This handbook focuses on the latest statistical information available on U.S. spending habits by exploring a wide range of economic, demographic, and geographic variables.

The field of spatial econometrics has come to include the methods and models that deal with estimation and testing problems encountered when attempting to implement regional economic models. Those problems are often characterized by the difficulties associated with assessing the importance of spatial dependence and spatial heterogeneity. This book includes contributions on spatial proximity, spatial patterning and in particular the spatial association (dependence) contained in local map patterns.

An engaging and accessible examination of what ails insurance markets—and what to do about it—by three leading economists.

Why is dental insurance so crummy? Why is pet insurance so expensive? Why does your auto insurer ask for your credit score? The answer to these questions lies in understanding how insurance works. Unlike the market for other goods and services—for instance, a grocer who doesn’t care who buys the store’s broccoli or carrots—insurance providers are more careful in choosing their customers, because some are more expensive than others.

Unraveling the mysteries of insurance markets, Liran Einav, Amy Finkelstein, and Ray Fisman explore such issues as why insurers want to know so much about us and whether we should let them obtain this information; why insurance entrepreneurs often fail (and some tricks that may help them succeed); and whether we’d be better off with government-mandated health insurance instead of letting businesses, customers, and markets decide who gets coverage and at what price. With insurance at the center of divisive debates about privacy, equity, and the appropriate role of government, this book offers clear explanations for some of the critical business and policy issues you’ve often wondered about, as well as for others you haven’t yet considered.

This book presents recent research on robustness in econometrics. Robust data processing techniques - i.e., techniques that yield results minimally affected by outliers - and their applications to real-life economic and financial situations are the main focus of this book. The book also discusses applications of more traditional statistical techniques to econometric problems. Econometrics is a branch of economics that uses mathematical (especially statistical) methods to analyze economic systems, to forecast economic and financial dynamics, and to develop strategies for achieving desirable economic performance. In day-by-day data, we often encounter outliers that do not reflect the long-term economic trends, e.g., unexpected and abrupt fluctuations. As such, it is important to develop robust data processing techniques that can accommodate these fluctuations.

The conduct of most of social science occurs outside the laboratory. Such studies in field science explore phenomena that cannot for practical, technical, or ethical reasons be explored under controlled conditions. These phenomena cannot be fully isolated from their environment or investigated by manipulation or intervention. Yet measurement, including rigorous or clinical measurement, does provide analysts with a sound basis for discerning what occurs under field conditions, and why. Science Outside the Laboratory explores the state of measurement theory, its reliability, and the role expert judgment plays in field investigations from the perspective of the philosophy of science. Its discussion of the problems of passive observation, the calculus of observation, the two-model problem, and model-based consensus uses illustrations drawn primarily from economics. The treatment clarifies the extent to which measurement provides valid information about objects and events in field sciences, but also has implications for measurement in the laboratory.

Four years ago "Research in Experimental Economics" published experimental evidence on fundraising and charitable contributions. This volume returns to the intrigue with philanthropy. Employing a mixture of laboratory and field experiments as well as theoretical research we present this new volume, "Charity with Choice." New waves of experiments are taking advantage of well calibrated environments established by past efforts to add new features to experiments such as endogeneity and self-selection. Adventurous new research programs are popping up and some of them are captured here in this volume. Among the major themes in which the tools of choice, endogeneity, and self-selection are employed are: What increases or decreases charitable activity? and How do organizational and managerial issues affect the performance of non-profit organizations?

"General-equilibrium" refers to an analytical approach which looks at the economy as a complete system of inter-dependent components (industries, households, investors, governments, importers and exporters). "Applied" means that the primary interest is in systems that can be used to provide quantitative analysis of economic policy problems in particular countries. Reflecting the authors' belief in the models as vehicles for practical policy analysis, a considerable amount of material on data and solution techniques as well as on theoretical structures has been included. The sequence of chapters follows what is seen as the historical development of the subject.

The book is directed at graduate students and professional economists who may have an interest in constructing or applying general equilibrium models. The exercises and readings in the book provide a comprehensive introduction to applied general equilibrium modeling. To enable the reader to acquire hands-on experience with computer implementations of the models which are described in the book, a companion set of diskettes is available.

Across the globe every nation wrestles with how it will pay for, provide, regulate and administer its healthcare system. Health economics is the field of economics that deals with every one of those issues and the difficult issue of allocating resources where the allocation can literally mean life or death, alleviating suffering or not. A key issue that is always mentioned, but little acted on, is the role that preventive measures play in the battle against disease and using limited healthcare resources more efficaciously. This book brings together leading researchers in the healthcare economics field presenting new research on some of these key issues such as the impact of obesity on health, children's' healthcare policies, education and health; and many more.

After the transition to free economy, governments of the former Soviet republics realized that in spite of becoming a part of the shaky international economic order, their individual economic success can be assured by rational national economic policies that in addition to the fundamental law of supply and demand govern the economic mechanism sensitive to both external and internal phenomena. Originally published in Russian and now translated in English, this book by Dr. A. Ashimov and his colleagues offers a novel theory providing a numerically-justifiable approach to the solution of major economy control problems that are faced by virtually every government in the world. First, they developed and validated numerous mathematical models describing complex interactions between economic and social factors thus enabling the decision makers to foresee the outcomes of their decisions. Second, on the basis of these models the authors formulated the appropriate control problems that could be interpreted as achieving the transition to the desirable economic regimes and maintaining these regimes in spite of initial conditions and both external and internal perturbations. It should be noted that due to the inherent uncertainty introduced by the use of statistical models, the nonlinearity of the underlying phenomena and the intention to obtain the optimal solutions, the solution process becomes quite intricate and calls for the application of the most sophisticated techniques offered in advanced control theory. The authors utilized the most instrumental statistical model validation techniques; they established sufficient conditions for the existence of optimal solutions of the relevant control problems; and they skillfully combined the applications of the phase space formalism, system stability analysis, and the methods of functional analysis. Finally, they developed algorithms resulting in the optimal problem solutions, thus offering economic policy makers a dependable decision support tool. Macroeconomic Analysis and Economic Policy Based on Parametric Control offers a novel, highly mathematical approach to the solution of very realistic economy control problems. It presents a good example of the application of mathematical modeling, advanced control theory, and model-based decision making that could be adopted by researchers and graduate students specializing in economics, control, and relevant areas of research, addressing their own research problems.

Combining impartial analysis with reliable facts and figures, this fully revised and updated 20th edition provides up-to-date commentary on these vast North American nations. General Survey Essays by leading experts analyse topics of regional importance, including: - US-Canadian integration, immigration, and the treatment of Indigenous peoples in North America. Country Surveys Each country is dealt with in greater detail within its own section. Country chapters include: - a chronology of political events - essays covering key socio-political and economic themes, including: recent political developments; foreign policy; constitution; the economy; energy policy; agriculture; trade; health and social policy - additional essays examining timely subjects such as US-Chinese economic competition, religion in US politics and the US Judicial system - historical, political and economic surveys of each of the US states and Canadian provinces and territories - statistical surveys of economic and demographic indicators - comprehensive directory sections covering public affairs, the economy and society, which provide contact details and other useful information for the most significant institutions in the region.

The Handbook of U.S. Labor Statistics is recognized as an authoritative resource on the U.S. labor force. It continues and enhances the Bureau of Labor Statistics's (BLS) discontinued publication, Labor Statistics. It allows the user to understand recent developments as well as to compare today's economy with past history. The 24th edition includes the new employment projections from 2019 to 2029. New projections are only released every two years. The Handbook is a comprehensive reference providing an abundance of data on a variety of topics including: Employment and unemployment; Earnings; Prices; Productivity; Consumer expenditures; Occupational safety and health; Union membership; Working poor Recent trends in the labor force And much more! Features of the publication In addition to over 215 tables that present practical data, the Handbook provides: Introductory material for each chapter that contains highlights of salient data and figures that call attention to noteworthy trends in the data Notes and definitions, which contain concise descriptions of the data sources, concepts, definitions, and methodology from which the data are derived References to more comprehensive reports which provide additional data and more extensive descriptions of estimation methods, sampling, and reliability measures

This book collects contributions written by well-known statisticians and econometricians to acknowledge Leopold Simar s far-reaching scientific impact on Statistics and Econometrics throughout his career. The papers contained herein were presented at a conference in
Louvain-la-Neuve in May 2009 in honor of his retirement. The contributions cover a broad variety of issues surrounding frontier
estimation, which Leopold Simar has contributed much to over the past two decades, as well as related issues such as semiparametric regression and models for censored data.

This book collects contributions written by well-known statisticians and econometricians to acknowledge Leopold Simar s far-reaching scientific impact on Statistics and Econometrics throughout his career. The papers contained herein were presented at a conference in
Louvain-la-Neuve in May 2009 in honor of his retirement. The contributions cover a broad variety of issues surrounding frontier
estimation, which Leopold Simar has contributed much to over the past two decades, as well as related issues such as semiparametric regression and models for censored data.

This book provides detailed empirical analysis of countries in Asia to examine various dynamic models that incorporate the impact of technology and innovations on the industry evolution and overall economic growth.

The papers collected in this volume demonstrate how different kinds of analytical approach can be used to anticipate the economic repercussions of systematic reduction of military spending. This volume will be of interest to economists; scholars in peace studies, international relations and such like; and officials of national governments and international bodies dealing with disarmament issues and with economic restructuring.

Features Self-contained book suitable for graduate students and post-doctoral fellows in financial mathematics and data science, as well as for practitioners working in the financial industry who deal with big data All results are presented visually to aid in understanding of concepts.

The main objective of politicians is to maximise economic growth, which heavily drives political policy and decision-making. Critics of the maximisation of growth as the central aim of economic policy have argued that growth in itself is not necessarily a good thing, particularly for the environment; however, what would replace the system and how it would be measured are questions that have been rarely answered satisfactorily. First published in 1991, this book was the first to lay out an entirely new set of practical proposals for developing new economic measurement tools, with the aim of being sustainable, 'green' and human-centred. Victor Anderson proposes that a whole set of indicators, rather than a single one, should play all the roles that GNP (Gross National Product) is responsible for. With a detailed overview of the central debates between the advocates and opponents of continued economic growth and an analysis of the various proposals for modification, this title will be of particular value to students interested in the diversity of measurement tools and the notion that economies should also be evaluated by their social and environmental consequences.