Online auctions have become increasingly popular in recent years, and as a consequence there is a growing body of empirical research on this topic. Most of that research treats data from online auctions as crosssectional, and consequently ignores the changing dynamics that occur during an auction. In this article we take a different look at online auctions and propose to study an auction’s pric...

We model consumption and dividend growth as different processes across two latent regimes. We estimate the equilibrium model over 1930-2009 and show that the second regime is associated with recessions, market downturns, higher risk premia, lower consumption and dividend growth, higher volatility of returns and growth rates, and lower market-wide price-dividend ratio. The model performs better ...

Abstract: Accurate forecasting of carbon price is important and fundamental for anticipating the changing trends of the energy market, and, thus, to provide a valid reference for establishing power industry policy. However, carbon price forecasting is complicated owing to the nonlinear and non-stationary characteristics of carbon prices. In this paper, a combined forecasting model based on vari...

Accurate and effective electricity price forecasting is critical to market participants in order to make an appropriate risk management in competitive electricity markets. Market participants rely on price forecasts to decide on their bidding strategies, allocate assets and plan facility investments. However, due to its time variant behavior and non-linear and non-stationary nature, electricity...

Ratio analysis is generally presented as something that has to be calculated after completing other financial statements and is generally viewed, particularly by students, as busy-work with little value. This paper changes the context of ratio analysis in order to demonstrate how a focus on the information provided by ratios adds to the value of the firm. By dissecting the valuation of a public...

We examine a sample of Value Line’s timeliness rank upgrades that occur immediately following earnings announcements and find that the pre-event price momentum has significant incremental explanatory power for the post-event drift, after controlling for the level of earnings surprise. Therefore, the drift following Value Line’s timeliness upgrades of the stocks that it covers cannot be construe...

The goal of this work is to derive models for forecasting the final price of ongoing online auctions. This forecasting task is important not only to the participants of an auction who compete against each other for the lowest price, but also to designers of bidder-side agents. Forecasting prices in online auctions is challenging from a statistical pointof-view because traditional forecasting mo...

In this paper we implement trading strategies for asset price forecasting models using parameterised decision rules. We develop a synthetic trading environment to investigate the relative effects, in terms of profitability, of modifying the forecasting model and the decision rule. We show that implementation of the trading rule can be as important to trading performance as the predictive abilit...

Background: Lack of sufficient information on the mechanism of plasma exchange (PE) therapy in multiple sclerosis (MS), has limited this treatment to individual patients with severe relapses who have been refractory to other treatments. This is while PE is used very successfully as a first-line standard treatment in many other neuro-immune disorders. Recent data suggest that Treg/Th17 counterb...

Electricity price forecasting is becoming more important in everyday business of power utilities. Good forecasting models can increase effectiveness of producers and buyers playing roles in electricity market. Price is also a very important element in investment planning process. This paper presents a forecasting technique to model day-ahead spot price using well known ARIMA model to analyze an...