In a seminal paper, Dockner and van Long [1993. International pollution control: cooperative versus non-cooperative strategies. Journal of Environmental Economics and Management 25, 13–29] argue that nonlinear strategies allow to protect the commons compared with the linear (and singular) strategy. This paper shows that the existence of multiple equilibria depends on preference characteristics ...

We consider two ascending auctions for multiple objects: the SEAMO (simultaneous English auction for multiple objects) and the the JAMO (Japanese auction for multiple objects). We first derive a (competitive) Perfect Bayesian Equilibrium of the JAMO by exploiting the strategic equivalence between the JAMO and the Survival Auction which consists of a finite sequence of sealed-bid auctions. Then,...

Factor models have been successfully employed in summarizing large datasets with few underlying latent factors and in building time series forecasting models for economic variables. When the objective is to forecast a target variable y with a large set of predictors x, the construction of the summary of the xs should be driven by how informative on y it is. Most existing methods first reduce th...

The classical APT model is of the form j j j j EI I r E r ε β + − = − ) ( ) ( , where ) ( j j r E r − is the earning deviation (called basic variance-profit) of the security I j, is a common factor. This paper considers the impact on the securities return caused by the skewness and kurtosis of the stock returns distributions, and poses a re-modified the arbitrage pricing model as follows j j j ...

introduction: multiple sclerosis is a progressive neurological disease is most common in young adults. this disease has created many problems for patients and it leads to disability and dependence in life. clinical findings indicate that mental stress of everyday life events gradually work different body systems including the immune system is affected and can weaken it. various factors can modu...

Rapid urbanization and intensification of human activities increases the risk disturbance ecological systems via multiple sources, with consequences for regional security health. Landscape assessment (LERA) is an effective way to identify allocate resources. We used north south Qinling Mountain area as a case study analyze spatial heterogeneity landscape using potential- connectedness-resilienc...

as the information carried in a high spatial resolution image is not represented by single pixels but by meaningful image objects, which include the association of multiple pixels and their mutual relations, the object based method has become one of the most commonly used strategies for the processing of high resolution imagery. this processing comprises two fundamental and critical steps towar...