To increase the production efficiency of a typical turbine blade, it is necessary to change its material and hence its production technology. In this respect and in order to make sure that newmat...

The concept of distance rationalizability allows one to define new voting rules or rationalize existing ones via a consensus, i.e., a class of elections that have a unique, indisputable winner, and a distance over elections: A candidate is declared an election winner if she is the consensus candidate in one of the nearest consensus elections. Many classic voting rules are defined or can be repr...

This paper shows that unexpected stock returns must be associated with changes in expected future dividends or expected future returns A vector autoregressive method is used to break unexpected stock returns into these two components. In U.S. monthly data in 1927-88, one-third of the variance of unexpected returns is attributed to the variance of changing expected dividends, one-third to the va...

This paper shows that unexpected stock returns must be associated with changes in expected future dividends or expected future returns A vector autoregressive method is used to break unexpected stock returns into these two components. In U.S. monthly data in 1927-88, one-third of the variance of unexpected returns is attributed to the variance of changing expected dividends, one-third to the va...

a U.S. Army Engineer Research and Development Center, Construction Engineering Research Laboratory, Champaign, Illinois, USA b U.S. Department of Agriculture-Agricultural Research Service, National Soil Dynamics Laboratory, Auburn, Alabama, USA c Department of Natural Resources and Environmental Sciences, University of Illinois, Urbana, Illinois, USA d Department of Crop Sciences, University of...

This paper shows that unexpected stock returns must be associated with changes in expected future dividends or expected future returns A vector autoregressive method is used to break unexpected stock returns into these two components. In U.S. monthly data in 1927-88, one-third of the variance of unexpected returns is attributed to the variance of changing expected dividends, one-third to the va...