Static and discrete time pricing operators for two price economies are reviewed and then generalized to the continuous time setting of an underlying Hunt process. The continuous time operators define nonlinear partial integrodifferential equations that are solved numerically for the three valuations of bid, ask and expectation. The operators employ concave distortions by inducing a probability ...

Abstract I find that approximately 30% of price fluctuations in the Fama-French size and value factors are nonfundamental pressures driven by correlated fund flows, which generate movements revert over time. Is this really demand-based pressure? show effects happen exclusively periods when mutual funds place trades, a fact is difficult to explain using traditional mechanisms such as unobserved ...

The paper presents a general method for estimating a country’s level of fundamental house prices and its interaction with actual house prices. We set up a unified empirical model which can be used to analyze the time-series behavior of the fundamental house price and to test various hypotheses regarding its relation to the actual house price. To illustrate how the method works, we apply it to d...

Abstract Amihud’s stock (il)liquidity measure averages daily ratios of the absolute close-to-close return to dollar volume, including overnight returns. Our modified uses open-to-close returns matching and trading volume measurement windows. It is more strongly correlated with trading-cost measures (by 8%–37%) better explains cross-sections returns, doubling estimated liquidity premiums. Using ...

Almond is considered the most common and essential nut grown in rainfed area. It has many species wildly distributed Iraqi Kurdistan region, which are called Chaqala by local people. To understand improve characteristics of cultivated almonds, a comprehensive study wild almonds terms population structure genetic diversity needed to transfer new traits into domesticated almonds. So, twelve diffe...

Wheat Triticum aestivum L. is one of the most important agricultural products, and meets highest nutritional needs humans in various countries. This study aims to evaluate compatibility stability 25 wheat genotypes for two crop years five regions (Karaj, Qazvin, Isfahan, Varamin Damavand) a randomized complete block design with three replications. The results variance analysis additive main eff...