Search results for "Expectation."
showing 10 items of 191 documents
Robustness of Coherence: An Operational and Observable Measure of Quantum Coherence
2016
Quantifying coherence is an essential endeavour for both quantum foundations and quantum technologies. Here the robustness of coherence is defined and proven a full monotone in the context of the recently introduced resource theories of quantum coherence. The measure is shown to be observable, as it can be recast as the expectation value of a coherence witness operator for any quantum state. The robustness of coherence is evaluated analytically on relevant classes of states, and an efficient semidefinite program that computes it on general states is given. An operational interpretation is finally provided: the robustness of coherence quantifies the advantage enabled by a quantum state in a …
Effects of Behavioural Finance on Emerging Capital Markets
2014
Abstract A recent common view of finance experts is that it is becoming increasingly difficult to understand how the economy as a whole works. Although the efficient market theory might be considered an ideal model enabling the interpretation of market behavior, it has begun to lose ground, and the rationality hypothesis failed to explain the excessive volatility of the returns and trading volume recorded on both developed capital markets and emerging ones. Adding the behavioral finance perspective to the equation can help us to understand better how market agents will react. In this article, we investigate the factors that may explain the trading volume evolution on two emerging capital ma…
Effects of Behavioural Factors on Human Financial Decisions
2014
Abstract In this article, we investigate the factors that may explain the trading volume evolution on two emerging capital markets, Romania and Brazil. We analyze the impact of both investors who ground their trading behaviour on rational expectations and investors who show psychological and emotional facets of the human decision, which we call behavioural errors, as independent variables on the trading volume as dependent variable. The results indicate that trading is influenced by the investors’ irrational behaviour. Thus, the rationality hypothesis can be rejected for both capital markets.
Robustness of the risk–return relationship in the U.S. stock market
2008
Abstract Using GARCH-in-Mean models, we study the robustness of the risk–return relationship in monthly U.S. stock market returns (1928:1–2004:12) with respect to the specification of the conditional mean equation. The issue is important because in this commonly used framework, unnecessarily including an intercept is known to distort conclusions. The existence of the relationship is relatively robust, but its strength depends on the prior belief concerning the intercept. The latter applies in particular to the first half of the sample, where also the coefficient of the relative risk aversion is smaller and the equity premium greater than in the latter half.
Comparing FPCA Based on Conditional Quantile Functions and FPCA Based on Conditional Mean Function
2019
In this work functional principal component analysis (FPCA) based on quantile functions is proposed as an alternative to the classical approach, based on the functional mean. Quantile regression characterizes the conditional distribution of a response variable and, in particular, some features like the tails behavior; smoothing splines have also been usefully applied to quantile regression to allow for a more flexible modelling. This framework finds application in contexts involving multiple high frequency time series, for which the functional data analysis (FDA) approach is a natural choice. Quantile regression is then extended to the estimation of functional quantiles and our proposal exp…
Logistic Growth Described by Birth-Death and Diffusion Processes
2019
We consider the logistic growth model and analyze its relevant properties, such as the limits, the monotony, the concavity, the inflection point, the maximum specific growth rate, the lag time, and the threshold crossing time problem. We also perform a comparison with other growth models, such as the Gompertz, Korf, and modified Korf models. Moreover, we focus on some stochastic counterparts of the logistic model. First, we study a time-inhomogeneous linear birth-death process whose conditional mean satisfies an equation of the same form of the logistic one. We also find a sufficient and necessary condition in order to have a logistic mean even in the presence of an absorbing endpoint. Then…
¿Cómo deciden les jóvenes la transición a la educación postobligatoria? Diferencias entre centros públicos y privados-concertados
2017
Background of INCASI Project H2020-MSCA-RISE-2015 GA 691004. WP1: Compilation El objetivo del presente artículo es examinar el papel que juega la titularidad del centro en el que se cursa la educación secundaria obligatoria (ESO) en la decisión de transitar a la educación postobligatoria. En dicha encrucijada se contemplan también otras variables que se han constatado de gran peso en la toma de decisión como son las notas previas obtenidas, el nivel formativo familiar, el sexo, las expectativas y las aspiraciones, partiendo del modelo decisional de transiciones educativas[1] que contempla el modelo de Boudon sobre los efectos primarios y secundarios. Los resultados obtenidos son los derivad…
Health capital in everyday life of the oldest old living in their own homes
2014
ABSTRACTAs more people experience old age as a time of growth and productivity, more research is needed that explores how they master everyday life. This paper reports on a qualitative study that explored how ten older women age 90 years or more experience and cope with the challenges of everyday life with a salutogenic perspective. The findings suggest that health resources such as positive expectation, reflection and adaptation, function and active contribution, relations and home, contribute to the health capital of women. These health resources were of importance for the women's experience of comprehensibility, manageability and meaningfulness in daily life. Health capital is a meaningf…
Factors Influencing the Choice of Higher Education Establishment for Marketing Strategies of Higher Education
2015
Abstract The world-wide competition of higher education programs makes education institutions to seek for most efficient ways to attract students. The presented academic research is devoted also to the issues on motives and influencing factors for the choice of study programs. The methods applied in the current paper are as follows: analysis of scientific publications, focus group discussions, surveys of possible future students. For the evaluation of different aspects of choice a scale of 1-10 was used. For the data analysis of the survey descriptive statistical analysis, cross tabulations and correlation analysis, as well as analysis of variance (ANOVA) and factor analysis were applied.
Modelling Electricity Price Expectations in a Day-Ahead Market: A Case of Latvia
2016
Abstract The paper aims at modelling the electricity generator’s expectations about price development in the Latvian day-ahead electricity market. Correlation and sensitivity analysis methods are used to identify the key determinants of electricity price expectations. A neural network approach is employed to model electricity price expectations. The research results demonstrate that electricity price expectations depend on the historical electricity prices. The price a day ago is the key determinant of price expectations and the importance of the lagged prices reduces as the time backwards lengthens. Nine models of electricity price expectations are prepared for different natural seasons an…