The reliability of trade classification algorithms that identify the liquidity demander in financial markets transaction data has been questioned due to an increase frequency quote changes. Hence, this paper proposes a new method. While established rely on ad hoc assignment trades quotes, proposed full-information (FI) algorithm actively searches for matches trade. FI outperforms existing ones,...

Financial bubbles arise when the underlying asset's market price deviates from its fundamental value. Unlike other bubble tests that use time series data and assume a reduced-form process, we infer existence of nonparametrically using option data. Under no-arbitrage acknowledging constraints, can partially identify asset cross section European prices. In empirical analysis, obtain interval esti...

Io’s spectacular volcanic activity involves strong tidal dissipation in its interior. Magnetic induction measurements and surface observations of the indicate presence significant melt interior, but distribution remains unconstrained. Tidal deformation a planetary body is strongly related to rheological properties thus, larger extent, content. The amplitude may be monitored by future missions f...