The most common measure by which the public sector at local, state or national level has affected the economic availability of alcoholic beverages is taxation in its different forms. These include, among others, setting excise duties or value added taxes on alcoholic beverages. Historically, the most common reason for taxing alcoholic beverages has been to acquire financial resources for the pu...

This pilot study investigates how considering accessibility could help to model prices of residential real estate more accurately. We introduce two novelties from the price modeling point of view (1) defining accessibility as travel time by public transport, in addition to geographic distance, and (2) considering dynamic points of interest from check-ins into social networks, in addition to fix...

In this paper, we derive and experimentally test a theoretical model of speculation in multiperiod asset markets with public information flows. The speculation arises from the traders’ heterogeneous posteriors as they make different inferences from sequences of public information. This leads to overpricing in the sense that price exceeds the most optimistic belief about the real value of the as...

A neural network trading strategy optimized based on Apriori and the genetic algorithm is proposed to determine strategies. Using Neural Network Genetic Algorithm, we find all frequent term sets of fuzzy set mine association rules from set. Enter price dataset, minimum support multiplier; output rule library, iterate.

* The authors thank Russ Wermers for conversations related to performance persistence. The authors will not enter into any correspondence with members of the public concerning this report.

The practice of making hedonic-based price adjustments to remove the effects of quality changes in goods and services that enter into the calculation of the U.S. Consumer Price Index (CPI) has to date focused primarily on indexes for consumer electronics, appliances, housing, and apparel. In an effort to expand the use of hedonic adjustments to a service-oriented area of the CPI, this article i...

The campaign to curb cigarette smoking in Britain is gaining momentum. So far the main emphasis has been on alerting the public to the health hazards. There has also been pressure for restrictions on smoking in public places and for greater control over tobacco sales promotion. Despite the fact that the expense of smoking is a major disincentive, especially for the teenager (McKennell and Thoma...