Observed high-frequency …nancial prices can be considered as comprising two components, a true price and a market microstructure noise perturbation. It is an empirical regularity, coherent with classical market microstructure theories of price determination, that the second moment of market microstructure noise is time-varying. We study the optimal, from a …nite-sample forecast MSE standpoint, ...

Phase transformations and the resulting microstructural evolution of near-Ti2AlNb and Ti-12Al38Nb O 1 bcc orthorhombic alloys were investigated. For the near-Ti2AlNb alloys, the processing temperatures were below the bcc transus, while, for Ti-12Al-38Nb, the processing temperature was supertransus. Phase evolution studies showed that these alloys contain several constituent phases, namely, bcc,...