EBLIP Returns Down Under

Capacity Utilization under Increasing Returns to Scale

Trading and Returns under Periodic Market Closures

This paper studies how market closures affect investors' trading policies and the resulting return-generating process. It shows that closures generate rich patterns of time variation in trading and returns, including those consistent with empirical findings: (1) U-shaped patterns in the mean and volatility of returns over trading periods, (2) higher trading activity around the close and open, (...

Online Robot Task Switching Under Diminishing Returns

We investigate the task switching problem of a robot maximizing its long-term average rate of return on work performed. We propose an online method to maximize the average gain rate based on only past experience. For that we alter the formulation from optimal foraging theory and recursively include estimates of global task qualities. We demonstrate and analyze our method on a puck-foraging exam...

A dean down under.

South Australia is a progressive state. It has a Premier who seems to be an intelligent intellectual. He heads a Labour government, which therefore has some accord with the central Commonwealth Government of Mr. Gough Whitlam. Our premier, Mr. Don Dunstan, known as "Donnie," is a lawyer who was able to devote an hour's television programme to poetry and his delight in it, and he recited it too....

Science down under

Your Grandpa Syd (who I hope won't mind my writing to you in this vein) mentioned that you were thinking about a career in Australia, now that your PhD is out of the way, so I'll give the low-down from an insider's point of view. I'll be quite frank, and what I have to tell you might bruise a few egos, so please try to keep it confidential. Of course there are good things about doing science in...