harmful economic, environmental and financial impacts of fertilizer distribution through subsidies as well as its contradiction with regulations of wto, it makes necessary to adopt a new policy. in this study, by combining positive mathematical programming and maximum entropy technique, the impacts of cancellation of fertilizer subsidies and applying proposed direct payment policies on gross ma...

the emphasis of this paper is the role of volatility indices on improvement artificial neural networks (anns) forecasting models for the daily usd/eur and usd/gbp exchange rates two volatility indices are used. first; the realized volatility, which is based on intra-daily data, and second the garch volatility. they are applied into the model in two ways. firstly, the lagged volatility index is ...

it is expected that, compared with other power plants, changes in fuel cost for power plants in the deregulated electricity market leads to changes in the generation capacity of wind power plants. to quantify this effect, this article aims at modeling energy generation capacity and supply or distribution of different power plants as opposed to those of wind power plants. the proposed model was ...

Horizontal mergers may be approved if antitrust authorities believe that new entry would limit any anticompetitive effects. This argument (‘the potential entry defense’) has led to mergers being approved in concentrated markets in several industries, including airlines. However, entry will be both less likely and less able to constrain market power if the pre-merger entry process has already se...

Day-ahead energy market clearing relies on a deterministic equivalent model with a limited time horizon, which may lead to inefficient scheduling of generating units from the point of view of generators. For this reason, generators may wish to forgo the profit hedging offered by day-ahead electricity markets and assume the risk of self-committing their units with the hope of securing greater pr...

We report on a design of a Turing tournament and its initial implementation to learning in repeated 2 person games. The principal objectives of the tournament, named after the original Turing Test, are (1) to find learning algorithms (emulators) that most closely simulate human behavior, (2) to find algorithms (detectors) that most accurately distinguish between humans and machines, and (3) eve...

The attempt to match asset price characteristics such as the risk-free interest rate, equity premium and the Sharpe ratio with data for models with instantaneous consumption decisions and time separable preferences has not been very successful. Many recent versions of asset pricing models have, in order to match those financial characteristics better with the data, employed habit formation wher...

Mixed-State conditionally heteroscedastic latent factor models attempt to describe a complex nonlinear dynamic system with a succession of linear latent factor models indexed by a switching variable. Unfortunately, despite the framework’s simplicity exact state and parameter estimation are still intractable because of the interdependency across the latent factor volatility processes. Recently, ...

This paper examines the dynamics of youth smoking behavior using a model of rational addiction with learning. Individuals in the model face uncertainty regarding the parameters that determine their utility from smoking. Through experimentation, individuals learn about how much they enjoy smoking cigarettes as well as the effects of reinforcement, tolerance, and withdrawal. The addition of learn...