A Note on Criterion-Robust Optimal Designs for Model Discrimination and Parameter Estimation in Polynomial Regression Models

Consider the problem of discriminating between the polynomial regression models on [?1, 1] and estimating parameters in the models. Zen and Tsai (2002 Zen , M. M. , Tsai , M. H. ( 2002 ). Some criterion-robust optimal designs for the dual problem of model discrimination and parameter estimation . Sankhya Ind. J. Statist. 64 : (Series B, Pt. 3) : 322 – 338 . [Google Scholar]) proposed a multiple-objective optimality criterion, M _γ-criterion, which uses weight γ (0 ≤ γ ≤ 1) for model discrimination and α = β = (1 ? γ)/2 for parameter estimation in each model. In this article, we generalize it to a wider setup with different values of α and β. For instance, α = 2 β suggests that the “smaller” model is more likely to be the true model. Using similar techniques, the corresponding criterion-robust optimal design is investigated. A study for the original criterion-robust optimal design with α = β, through M-efficiency, shows that it is good enough for any wider setup.     

Hypothesis Testing and Confidence Regions for the Mean Sojourn Time of an M/M/1 Queueing System

This article discusses testing hypotheses and confidence regions with correct levels for the mean sojourn time of an M/M/1 queueing system. The uniformly most powerful unbiased tests for three usual hypothesis testing problems are obtained and the corresponding p values are provided. Based on the duality between hypothesis tests and confidence sets, the uniformly most accurate confidence bounds are derived. A confidence interval with correct level is proposed.     

Estimation of Traffic Intensity Based on Queue Length in a Single M/M/1 Queue

In this article, maximum likelihood estimator (MLE) as well as Bayes estimator of traffic intensity (ρ) in an M/M/1/∞ queueing model in equilibrium based on number of customers present in the queue at successive departure epochs have been worked out. Estimates of some functions of ρ which provide measures of effectiveness of the queue have also been derived. A comprehensive simulation study starting with the transition probability matrix has been carried out in the last section.     

Commodities and monetary policy: Implications for inflation and price level targeting

We examine the relative ability of inflation targeting and price level targeting monetary policy rules to minimize inflation variability and business cycle fluctuations in a commodity-exporting country for supply and demand shocks to global commodity markets. The macroeconomic consequences of oil and non-oil primary commodities differ and affect the relative merits of the alternative monetary policy frameworks. Particularly, the consumption of refined oil products and demand-driven commodity price movements induce highly persistent inflation pressures resulting in a significant deterioration of the inflation-output gap trade-off available to central banks. When such terms-of-trade shocks are prevalent, price level targeting is inferior to inflation targeting.     

Innovation and corporate performance in the Spanish regions

This paper analyzes the relationship between corporate performance and innovative effort for a set of Spanish companies during the 2007–2013 period. For this purpose, we use a panel data model. We find evidence that the return on equity (ROE) and, in particular, sales revenues are positively influenced by corporate innovation. Moreover, we also find evidence that this positive relationship is stronger in large companies. The analysis regarding the age of the company indicates that, in start-ups or younger companies, innovation effort has a greater effect on corporate performance than in older companies.     

区域金融发展与经济增长关系的实证研究

金融发展与经济增长的关系是经济学的一个重要研究领域。以江苏省为例 ,运用金融发展的两个指标即货币化程度 (M2 /GDP)和证券化程度 (S/GDP)对金融发展与经济增长的关系进行实证检验 ,得出江苏省的货币化程度与经济增长呈负相关关系 ,证券化程度与经济增长呈正相关关系的结论 ,并对检验结果进行分析。江苏省在今后的金融深化过程中 ,要在提高金融中介对资源的配置效率、促进证券市场发展等方面努力。     

基于虚假信息情况下系统收益模型及应用

针对确定队长不可见的顾客批量到达的排队系统,构建虚假信息情况下系统的收益模型,并研究其在呼叫中心排队系统的应用.模型首先引入虚假信息参数,根据生灭过程方法和区间数的依概率分布原理,得到系统收益函数,并从惩罚机制和系统间竞争的角度,对模型进行扩充.实例分析表明,当惩罚机制为空时,利用信息不对称优势,虚假信息确实可以提高系统收益,但随着虚假信息值不断增加,系统收益逐渐减小,这解释了不易察觉的虚假信息存在的原因;当惩罚机制非空时,虚假信息会降低系统收益,且不同惩罚函数对系统约束效果不同.在考虑系统间竞争时,虚假信息会降低系统收益,同时竞争有助于降低系统提供虚假信息值.实例分析证明模型的可行性,具有一定管理应用价值.     

Asymptotics of M-estimator in multivariate linear regression models for a class of random errors

It is known that linear regression models have immense applications in various areas such as engineering technology, economics and social sciences. In this paper, we investigate the asymptotic properties of M-estimator in multivariate linear regression model based on a class of random errors satisfying a generalised Bernstein-type inequality. By using the generalised Bernstein-type inequality, we obtain a general result on almost sure convergence for a class of random variables and then obtain the strong consistency for the M-estimator in multivariate linear regression models under some mild conditions. The result extends or improves some existing ones in the literature. Moreover, we also consider the case when the dimension $p$ tends to infinity by establishing the rate of almost sure convergence for a class of random variables satisfying generalised Bernstein-type inequality. Some numerical simulations are also provided to verify the validity of the theoretical results.     

Vacation Leave,Work Hours,and Wages: New Evidence from Linked Employer–Employee Data

This paper provides new evidence on the determinants of vacation leave and its relationship to hours worked and hourly wages by examining the case of Canada. Previous studies from the USA, using individual‐level data, have revealed that annual work hours fall by around 53 hours for each additional week of vacation used. Exploiting a linked employer–employee dataset that allows to control for detailed observed demographic, job, and firm characteristics, we find instead that annual hours of work fall by only 29 hours for each additional week of vacation used. Our findings support the hypothesis that pressure at work may lead employees to use more vacation days but also causes them to work for longer hours.