Empirical evidence shows that entrepreneurs hold a large fraction of wealth, have higher saving rates than workers, and face substantial uninsurable entrepreneurial and investment risks. This paper constructs a heterogeneous-agent general equilibrium model with uninsurable entrepreneurial risk and capital-market imperfections to explore the implications of uninsurable entrepreneurial risk for w...

Let (X ,μ) be a probability space, set X to be distributed according to μ and put Y to be an unknown target random variable. In the usual setup in learning theory, one observes N independent couples (Xi, Yi)Ni=1 in X × R, distributed according to the joint distribution of X and Y . The goal is to construct a real-valued function f which is a good guess/prediction of Y . A standard way of measur...

Shear wave velocity is a basic engineering tool required to define dynamic properties of soils. In many instances it may be preferable to determine Vs indirectly by common in-situ tests, such as the Standard Penetration Test. Many empirical correlations based on the Standard Penetration Test are broadly classified as regression techniques. However, no rigorous procedure has been published for c...

Model Selection is a task selecting set of potential models. This method is capable of establishing hidden semantic relations among the observed features, using a number of latent variables. In this paper, the selection of the correct number of latent variables is critical. In the most of the previous researches, the number of latent topics was selected based on the number 1 / 4

Empirical likelihood inferential procedure is proposed for right censored survival data under linear transformation models, which include the commonly used proportional hazards model as a special case. A log-empirical likelihood ratio test statistic for the regression coefficients is developed. We show that the proposed logempirical likelihood ratio test statistic converges to a standard chi-sq...

In this paper we establish the empirical likelihood method for the two-sample case in a general framework. We show that the result of Qin and Zhao (2000) basically covers the following two-sample models: the differences of two sample means, smooth Huber estimators, distribution and quantile functions, ROC curves, probability-probability (P-P) and quantile-quantile (Q-Q) plots. Finally, the stru...

Model Selection is a task selecting set of potential models. This method is capable of establishing hidden semantic relations among the observed features, using a number of latent variables. In this paper, the selection of the correct number of latent variables is critical. In the most of the previous researches, the number of latent topics was selected based on the number of invoked classes. T...

Intermediate quantiles play an important role in the statistics of extremes with particular applications in risk management. For interval estimation of quantiles, Chen and Hall (1993) proposed the so-called smoothed empirical likelihood method. In this paper, we apply the method in Chen and Hall (1993) to construct confidence intervals for an intermediate quantile and show that the choice of th...