This paper explores the mechanism on how the persistence of the stock return volatility is created using a model of an agent-based stock market. First, artificial stock markets with different learning mechanisms, i.e., individual and social learning are examined. The simulation result shows that a social learning economy produces persistence of return volatility while an individual learning eco...

After Q: Exploit Hardening Made Easy [2] appeared in Usenix Security 2011, we noticed a discrepancy in our results. Our experiments showed that we could create a ROP payload to call statically linked functions in 80% of programs larger than 20KB, and additionally dynamically linked functions in 80% of programs larger than 100KB. The only difference between the two experiments is that the latter...

The stepped leader forms the first phase of the first stroke in any lightning flash. It is basically a stepwise elongating discharge in air, which carries significant charge. The charge distribution on the leader and its velocity of descent determine the attractive radius in shielding efficiency calculations. Also, the conductivity and the charge distribution on the leader tip region govern the...

We study a dynamic asset allocation problem in which expected stock returns are predictable, focusing on an investor with a medium-term horizon of up to five years. At these horizons, both return continuation (momentum) and mean-reversion are of central importance in the asset allocation problem. Researchers have extensively investigated the impact of mean-reversion on optimal portfolio choice,...

In this paper, a two stages method to determine suitable benchmark and return scale of the decision making units set is presented. At first, all of the efficient reference set in no radial data envelopment analysis (DEA) based on linear programming is found. first, RAM model is introduced and units is investigated using this model, then, to run the given algorithm below steps is performed. At t...