We use Bayesian statistical methods to compare the habit persistence asset pricing model of Campbell and Cochrane, the long run risks model of Bansal and Yaron, and the prospect theory model of Barberis, Huang, and Santos. We undertake two types of comparisons, relative and absolute, over two sample periods, 1930–2008 and 1950–2008, using two series, univariate U.S. stock returns and bivariate ...

Amid widespread reports of deforestation, some nations have nevertheless experienced transitions from deforestation to reforestation. In a causal relationship, the Forest Identity relates the carbon sequestered in forests to the changing variables of national or regional forest area, growing stock density per area, biomass per growing stock volume, and carbon concentration in the biomass. It qu...

An intensive analysis of the dependence structure among stock markets is invaluable to financial experts, policy makers, and academic researchers, providing them with important implications for portfolio management, policy-making, and risk assessment. This paper proposes a novel spatiotemporal model to both examine global stock market linkages and investigate what drives stock returns. The newl...

According to the domestic studies conducted on in the field of internal controls, the gap of providing models for identifying weak internal controls is felt completely. The present study is aimed at providing a model for assessing the quality of internal controls based on the characteristics of the economic unit, the characteristics of auditor as well as their expected goals in the Firm's liste...

– Decision tables provide a simple and systematic summary of the consequences of alternative management policies or decisions given various possible true, but generally unknown, states of nature. Decision tables are especially useful for evaluating the precautionary properties of those decisions, as they require explicit consideration of a variety of “what if” possibilities, some of which could...

Effective management is essential for small-scale fisheries to continue providing food and livelihoods for households, particularly in developing countries where other options are often limited. Studies on the population dynamics and stock assessment on fishery target species are thus imperative to sustain their fisheries and the benefits for the society. In Lake Koka (Ethiopia), very little is...