According to the age-of-acquisition hypothesis, words acquired early in life are processed faster and more accurately than words acquired later. Connectionist models have begun to explore the influence of the age/order of acquisition of items (and also their frequency of encounter). This study attempts to reconcile two different methodological and theoretical approaches (proposed by Lambon Ralp...

Asset forfeiture laws allow the seizure of assets used in the commission of a crime. This paper examines the impact of such laws on deterrence by incorporating the possibility of asset forfeiture into the standard economic model of crime. When punishment is by a fine that can be optimally chosen, forfeiture is never optimal because of the deadweight loss it imposes in the capital market. When t...

The assumption of expected profit-maximizing bidding behavior in a multi-unit, multi-period auction with step-function supply curves is used to estimate cost functions for electricity generation units and derive tests of expected profit-maximizing behavior. Applying these techniques to data from the National Electricity Market in Australia reveals statistically significant evidence of output-de...

Conceptual issues and the basis for the use of financial statements from the perspective of complexity and chaos are proposed. After analyzing the implications that these perspectives have for financial statements, basic accounting equation is examined from the view of complex logic through the mechanisms of the circumscription. Besides, the phase spaces arising from the relationship between in...

Properties of the distribution of the deficit at ruin in the stationary renewal risk model are studied. A mixture representation for the conditional distribution of the deficit at ruin (given that ruin occurs) is derived, as well as a stochastic decomposition involving the residual lifetime associated with the maximal aggregate loss. In the case where the individual claims have a phase-type dis...

In this paper we study approximating the total loss associated with the individual insurance risk model by a compound Poisson random variable. By minimizing the expectation of the absolute deviation of the compound Poisson random variable from the true total loss, we investigate not only the optimal compound Poisson random variable but also the numerical calculation of the approximation error. ...

Investment risk models with infinite variance provide a better description of distributions of individual property returns in the Property Council of Australia data base from 1985 to 1996 than normally distributed risk models. The shape of the distribution of Australian property returns is virtually indistinguishable from the shape of United States property returns in the NCREIF Property Index ...

30 Efforts requiring banks to divulge information on their financial condition have a long history. In the early 1800s, some states required banks to file reports of condition with the governor or legislature, arguing the state was a shareholder in the banks and therefore entitled to the information (Robertson 1995). However, the reports contained only broad breakdowns of assets and liabilities...