This paper studies a pure exchange economy populated by three types of agents: constrained agents who are subject to participation constraints, unconstrained agents who are only subject to a standard solvency constraint, and arbitrageurs who, in addition to being unconstrained, may incur transitory losses that are bounded by a state-dependent credit limit. We show that this credit possibility i...

Linear relation is valuable in rule discovery of stocks, such as ”if stock X goes up 1, stock Y will go down 3”, etc. The traditional linear regression models the linear relation of two sequences perfectly. However, if user asks ”please cluster the stocks in the NASDAQ market into groups where sequences have strong linear relationship with each other”, it is prohibitively expensive to compare s...

One of the most important problems in modern finance is finding efficient ways to summarize and visualize the stock market data to give individuals or institutions useful information about the market behavior for investment decisions. The enormous amount of valuable data generated by the stock market has attracted researchers to explore this problem domain using different methodologies. Potenti...

The recommending system is frequently used nowadays in Electronic Commerce. A lot of commercial transactions are made by recommends from trustable advisors, experts and partners. Many stock traders place their orders after their friends recommends them to do so. This report exams the effectiveness of recommending system in stock markets in the context of the Penn-Lehman Automated Trading (PLAT)...

Background. It has been debated for a long time whether institutional investment managers have superior ability to pick stocks and to time the market. If so, the next question is whether the investment managers deliver their market insights to investors. As more and more investors delegate their portfolios to investment managers in the U.S. financial market, the questions above are critical to ...

In this paper we try to answer the question as to whether insider trading disclosures convey valuable information to market participants, valuable in the sense of the profitability of an investment strategy that faithfully mirrors insider behaviour. Our interest in this subject is limited to the case of announcements concerning insider transactions issued over a six-year period on the Warsaw St...

one of the goals of financial reporting is to provide the useful information in order to facilitate the decision making. accounting information system is of high importance for the users to make specific decisions. the information should be analyzed to present the valuable information to the investors so that in this paper, the relative content and return additive with cash recovery have been a...

This article discusses the appeal to infinite value in environmental decision making. We argue that invoking infinite values as a means of faithfully representing the worth of certain parts of the natural environment is a mistake. Infinite values have a number of theoretical and practical problems associated with them. For example, we show that invoking infinite values makes it hard to motivate...

background: hematological studies are valuable diagnostictechniques in the medical care of fish, reflecting the healthcondition and the effects of environmental factors on fish. objectives:due to the high value of sturgeon fish and necessityto recover the brood stock, this study was done to provide dataabout hematological parameters and reproduction normative ofwild brood stock beluga, huso hus...