This paper proposes a dynamic model of bid and ask quotes that incorporates a stochastic cost of market-making, discreteness (restriction of quotes to a fixed grid) and clustering (the tendency of quotes to lie on " natural " multiples of the tick size). The Gibbs sampler provides a convenient vehicle for estimation. The model is estimated for daily and intradaily US Dollar/Deutschemark Reuters...

INCLUSive allows automatic multistep analysis of microarray data (clustering and motif finding). The clustering algorithm (adaptive quality-based clustering) groups together genes with highly similar expression profiles. The upstream sequences of the genes belonging to a cluster are automatically retrieved from GenBank and can be fed directly into Motif Sampler, a Gibbs sampling algorithm that ...

We propose a nonparametric Bayes wavelet model for clustering of functional data. The wavelet-based methodology is aimed at the resolution of generic global and local features during clustering and is suitable for clustering high dimensional data. Based on the Dirichlet process, the nonparametric Bayes model extends the scope of traditional Bayes wavelet methods to functional clustering and all...