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Full-Text Articles in Social and Behavioral Sciences
How "Situational" Is Judgment In Situational Judgment Tests?, Stefan Krumm, Filip Lievens, Joachim Huffmeier, Anastasiya A. Lipnevich, Hanna Bendels, Gudio Hertel
How "Situational" Is Judgment In Situational Judgment Tests?, Stefan Krumm, Filip Lievens, Joachim Huffmeier, Anastasiya A. Lipnevich, Hanna Bendels, Gudio Hertel
Research Collection Lee Kong Chian School Of Business
Whereas situational judgment tests (SJTs) have traditionally been conceptualized as low-fidelity simulations with an emphasis on contextualized situation descriptions and context-dependent knowledge, a recent perspective views SJTs as measures of more general domain (context-independent) knowledge. In the current research, we contrasted these 2 perspectives in 3 studies by removing the situation descriptions (i.e., item stems) from SJTs. Across studies, the traditional contextualized SJT perspective was not supported for between 43% and 71% of the items because it did not make a significant difference whether the situation description was included or not for these items. These results were replicated across construct …
Self-Exciting Jumps, Learning, And Asset Pricing Implications, Andras Fulop, Junye Li, Jun Yu
Self-Exciting Jumps, Learning, And Asset Pricing Implications, Andras Fulop, Junye Li, Jun Yu
Research Collection School Of Economics
The paper proposes a self-exciting asset pricing model that takes into account co-jumps between prices and volatility and self-exciting jump clustering. We employ a Bayesian learning approach to implement real-time sequential analysis. We find evidence of self-exciting jump clustering since the 1987 market crash, and its importance becomes more obvious at the onset of the 2008 global financial crisis. We also find that learning affects the tail behaviors of the return distributions and has important implications for risk management, volatility forecasting, and option pricing.
External Debt And Growth Dynamics, Si Chen
External Debt And Growth Dynamics, Si Chen
Dissertations and Theses Collection (Open Access)
Based on an extended growth model, this thesis further explores the joint dynamics between external debt and growth. The model explicitly expresses this growth dynamic mechanism incorporating external debt as an important explanatory variable with risk premium and other related structural factors. The interactions between external debt and growth are interpreted as directly and mainly through the channel of capital accumulation and indirectly through technology change. These constitute the functional form foundation to solve the main concern on the effect of external debt upon growth adjustment path. The numerical simulations of the model indicate that when external debt is assumed …
L S Penrose's Limit Theorem: Tests By Simulation, Pao Li Chang, Vincent Chua, Moshe Machover
L S Penrose's Limit Theorem: Tests By Simulation, Pao Li Chang, Vincent Chua, Moshe Machover
Research Collection School Of Economics
L S Penrose's Limit Theorem-which is implicit in Penrose (1952, p. 72) [Penrose, 1952. On the Objective Study of Crowd Behavior. H. K. Lewis and Co, London, p. 72] and for which he gave no rigorous proof-says that, in simple weighted voting games, if the number of voters increases indefinitely and the relative quota is pegged, then-under certain conditions-the ratio between the voting powers of any two voters converges to the ratio between their weights. Lindner and Machover (2004) [Lindner I., Machover M. 2004. L.S. Penrose's limit theorem: proof of some special cases. Mathematical Social Sciences 47, 37-49] prove some …
L S Penrose's Limit Theorem: Tests By Simulation, Pao-Li Chang, Vincent Chua, Moshe Machover
L S Penrose's Limit Theorem: Tests By Simulation, Pao-Li Chang, Vincent Chua, Moshe Machover
Research Collection School Of Economics
LS Penrose’s limit theorem (PLT) – which is implicit in Penrose [5, p. 72] and for which he gave no rigorous proof – says that, in simple weighted voting games, if the number of voters increases indefinitely while existing voters retain their weights and the relative quota is pegged, then – under certain conditions – the ratio between the voting powers of any two voters converges to the ratio between their weights. Lindner and Machover [3] prove some special cases of PLT; and conjecture that the theorem holds, under rather general conditions, for large classes of weighted voting games, various …