This paper proposes a cake-cutting protocol using cryptography when the cake is a heterogeneous good that is represented by an interval on a real line. Although the Dubins-Spanier moving-knife protocol with one knife achieves simple fairness and truthfulness, all players must execute the protocol synchronously. Thus, the protocol cannot be executed on asynchronous networks such as the Internet....

Psychological studies support the existence of an influence of weather on mood. Saunders (1993) and Hirshleifer and Shumway (2001) argue that the weather could affect the behaviour of market traders and, therefore, it should be reflected in the stock returns. This paper investigates the possible relation between weather and market index returns in the context of the Spanish market. In 1989, thi...

OBJECTIVE The current study aimed to examine the effects of daily change of the Shenzhen Stock Exchange Index on cardiovascular mortality in Guangzhou and Taishan, China. METHODS Daily mortality and stock performance data during 2006-2010 were collected to construct the time series for the two cities. A distributed lag non-linear model was utilized to examine the effect of daily stock index c...

• This paper investigates the distribution characteristics of stock market liquidity. • This paper utilizes the GAMLSS model and high-frequency data from Chinese stock markets. • The mean and variance of stock market liquidity move in the opposite directions. • The stock market liquidity normally exhibits a positive skewness. • The stock market liquidity exhibits a normal distribution at a low ...

A stochastic volatility-in-mean model with correlated errors using the generalized hyperbolic skew Student-t (GHST) distribution provides a robust alternative to the parameter estimation for daily stock returns in the absence of normality. An efficient Markov chain Monte Carlo (MCMC) sampling algorithm is developed for parameter estimation. The deviance information, the Bayesian predictive info...

In the business sector, it has always been a difficult task to predict the exact daily price of the stock market index; hence, there is a great deal of research being conducted regarding the prediction of the direction of stock price index movement. Many factors such as political events, general economic conditions, and traders' expectations may have an influence on the stock market index. Ther...

This study was carried out in 2004 in Iguacu National Park (INP), Paraná-Brazil. The vegetation is composed of Araucaria Forest (AF) (13.1%) and Seasonal Semi-deciduous Forest (FES) (86.9%). Two types of materials were analyzed: litter (L) and woody material (W) (alive (A) and dead (D)), and classified by diameter: W1(0–0.70 cm), W2(0.71–2.5 cm), W3(2.51–7.50 cm), and W4(≥7.5 cm). The results f...

There is an old Wall Street adage goes, ‘‘It takes volume to make price move”. The contemporaneous relation between trading volume and stock returns has been studied since stock markets were first opened. Recent researchers such as Wang and Chin [Wang, C. Y., & Chin S. T. (2004). Profitability of return and volume-based investment strategies in China’s stock market. Pacific-Basin Finace Journal...