Abstract This paper shows that over time, expected market illiquidity positively affects ex ante stock excess return, suggesting that expected stock excess return partly represents an illiquidity premium. This complements the cross-sectional positive return-illiquidity relationship. Also, stock

Abstract Two kinds of contemporary developments in cryp-communications over an insecure channel order to use cryptogtography are examined. Widening applications of teleprocess-raphy to insure privacy, however, it currently necessary for the ing have given rise to a need for new types

Abstract The prefrontal cortex has long been suspected to play an important role in cognitive control, in the ability to orchestrate thought and action in accordance with internal goals. Its neural basis, however, has remained a mystery. Here, we propose that cognitive control stems from

Abstract-It has long been realized that in pulse-code modulation (PCM), with a given ensemble of signals to handle, the quantum values should be spaced more closely in the voltage regions where the signal amplitude is more likely to fall. It has been shown by Panter and Dite that, in the limit

Abstract: We use the National Family Health Survey (NFHS) data collected in Indian states in 1992 and 1993 to estimate the relationship between household wealth and the probability a child (aged 6 to 14) is enrolled in school. A methodological difficulty to overcome is that the NFHS, modeled

Abstract Users of Web search engines are often forced to sift through the long ordered list of document “snippets” returned by the engines. The IR community has explored document clustering as an alternative method of organizing retrieval results, but clustering has yet to be deployed on the major

Abstract Function approximation is essential to reinforcement learning, but the standard approach of approximating a value function and determining a policy from it has so far proven theoretically intractable. In this paper we explore an alternative approach in which the policy is explicitly

Abstract: We document five stylized facts of economic growth. (1) The "residual" rather than factor accumulation accounts for most of the income and growth differences across nations. (2) Income diverges over the long run. (3) Factor accumulation is persistent while growth

Abstract — We analyze the performance of the IEEE 802.11b wireless local area networks. We have observed that when some mobile hosts use a lower bit rate than the others, the performance of all hosts is considerably degraded. Such a situation is a common case in wireless local area networks

Abstract By now it is widely accepted that learning a task from scratch, i.e., without any prior knowledge, is a daunting undertaking. Humans, however, rarely attempt to learn from scratch. They extract initial biases as well as strategies how to approach a learning problem from instructions and