Yu Yvette Zhang, Ximing Wu and Qi Li
We propose a nonparametric estimator of the Lorenz curve that satisfies its theoretical properties, including monotonicity and convexity. We adopt a transformation approach that…
Abstract
We propose a nonparametric estimator of the Lorenz curve that satisfies its theoretical properties, including monotonicity and convexity. We adopt a transformation approach that transforms a constrained estimation problem into an unconstrained one, which is estimated nonparametrically. We utilize the splines to facilitate the numerical implementation of our estimator and to provide a parametric representation of the constructed Lorenz curve. We conduct Monte Carlo simulations to demonstrate the superior performance of the proposed estimator. We apply our method to estimate the Lorenz curve of the U.S. household income distribution and calculate the Gini index based on the estimated Lorenz curve.
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In this paper we investigate the optimal choice of rectangular meshes for the solution of nonlinear dopant diffusion problems in semiconductor process modelling. Firstly we show…
Abstract
In this paper we investigate the optimal choice of rectangular meshes for the solution of nonlinear dopant diffusion problems in semiconductor process modelling. Firstly we show some results giving better error monitor functions as criteria for obtaining an adapted mesh. Secondly we survey some 1D methods to implement the error equidistribution law and produce the mesh. Finally we implement the new mesh generation strategies in the finite element simulator ASWR of COMPOSITE and report on the full simulation results.
This paper aims to analyze and evaluate the arguments provided in Gema Dari Menara that aim to justify Islamic prohibitions. The first part of this paper will attempt to indicate…
Abstract
This paper aims to analyze and evaluate the arguments provided in Gema Dari Menara that aim to justify Islamic prohibitions. The first part of this paper will attempt to indicate that the arguments concerning Islam’s prohibition of certain activities are surprisingly secular in their justification, in the sense that their reasoning rests on mundane empirical considerations rather than lofty theological exhortations. For instance, pre-marital sex must be prohibited because it would “ruin one’s personality and community”, Bruneians should not gamble because people who do so “forget their own responsibilities”, and alcohol should not be consumed because it can “ruin a sound mind and one’s personality”. These justifications do not appeal to the divine but instead refer to phenomena that can be observed, measured, and quantified. The second part of this paper will consider the implications of trying to justify absolute religious prohibitions through secular considerations. It will be argued that in doing so the film opens itself to empirical queries that must be addressed for the film to have its desired effect. This paper ultimately draws attention to some of the challenges facing religious apologetics as the social sciences gain prominence.
Lehlohonolo Letho, Grieve Chelwa and Abdul Latif Alhassan
This paper examines the effect of cryptocurrencies on the portfolio risk-adjusted returns of traditional and alternative investments within an emerging market economy.
Abstract
Purpose
This paper examines the effect of cryptocurrencies on the portfolio risk-adjusted returns of traditional and alternative investments within an emerging market economy.
Design/methodology/approach
The paper employs daily arithmetic returns from August 2015 to October 2018 of traditional assets (stocks, bonds, currencies), alternative assets (commodities, real estate) and cryptocurrencies. Using the mean-variance analysis, the Sharpe ratio, the conditional value-at-risk and the mean-variance spanning tests.
Findings
The paper documents evidence to support the diversification benefits of cryptocurrencies by utilising the mean-variance tests, improving the efficient frontier and the risk-adjusted returns of the emerging market economy portfolio of investments.
Practical implications
This paper firmly broadens the Modern Portfolio Theory by authenticating cryptocurrencies as assets with diversification benefits in an emerging market economy investment portfolio.
Originality/value
As far as the authors are concerned, this paper presents the first evidence of the effect of diversification benefits of cryptocurrencies on emerging market asset portfolios constructed using traditional and alternative assets.
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Sanjay Taneja, Vartika Bisht and Mohit Kukreti
The study delves into the role played by cutting-edge data analytics, machine learning, and innovative technologies in reshaping traditional insurance practices. The primary goal…
Abstract
Purpose
The study delves into the role played by cutting-edge data analytics, machine learning, and innovative technologies in reshaping traditional insurance practices. The primary goal of this review is to juxtapose findings from the literature sources, enabling a comprehensive analysis of the current state of implementation.
Design/Methodology/Approach
Systematic narrative review methodology has been applied to the present study. Scopus database has been used for the manuscripts ranging from year 2020 to 2024 considering the 5-year rule. 74 manuscripts were reviewed to navigate the landscape of data-driven revolution, unlocking the potential to elevate insurance operations to new heights. Two research questions about the impact of data alchemy on operational efficiency and insights and its contribution to reshaping the future landscape of insurance practices have been answered.
Findings
This approach captured the interplay between the theoretical potential for insurance and the practical realities of implementation of advanced practices, drawing upon the collective expertise within the field. By doing so, the article discerned the trajectory of the insurance sector concerning the advanced data alchemy observed in the industry.
Originality/Value
The current research contributes to the broader area of data alchemy in the insurance industry. The transformative power of big data analytics lies in its capacity to turn vast and diverse datasets into valuable insights, driving innovation, informed decision-making, and improved business outcomes across various sectors. Notably, the research extends the body of literature exploring the impact of data alchemy on operational efficiency and insights, area where limited studies have been conducted.
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Poonam Arora and Carolyn E. Predmore
This chapter demonstrates the strategic use of social media by firms interacting with stakeholders, not just customers. Corporations have seen how consumers can share their…
Abstract
Purpose
This chapter demonstrates the strategic use of social media by firms interacting with stakeholders, not just customers. Corporations have seen how consumers can share their experiences with products and services. Smart companies find ways to leverage these conversations to engage current and potential customers and other stakeholders.
Design/methodological approach
Our approach is theoretical, based on an examination of how the communication channel of social media can be used as a strategic tool throughout the organization, going well beyond marketing.
Findings
This chapter looks at four advantages of social media. Social media provides a mechanism for firms to not just find customers, but also allow customers to find firms. Social media can engage customers, industry influencers, and thought pundits in cost-effective ways that benefit both the firm and stakeholders. The largest contribution of social media is the information from big data on customer needs and wants as well as on the processes underlying consumer decisions. The greatest opportunity lies in how a firm converts data into actionable intelligence in real time.
Practical applications
We discuss how the words, social and media, need to be de-coupled: The concept of social can be practically applied very effectively to areas of strategy and internal learning, and product development. Taking advantage of the opportunities presented by social media requires a social enterprise to be effective.
Originality
This chapter presents an original theoretical framework of social media that can be used by a company to examine the social aspects and implications of every element in the value chain.
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Edwin Fourrier-Nicolaï and Michel Lubrano
The growth incidence curve of Ravallion and Chen (2003) is based on the quantile function. Its distribution-free estimator behaves erratically with usual sample sizes leading to…
Abstract
The growth incidence curve of Ravallion and Chen (2003) is based on the quantile function. Its distribution-free estimator behaves erratically with usual sample sizes leading to problems in the tails. The authors propose a series of parametric models in a Bayesian framework. A first solution consists in modeling the underlying income distribution using simple densities for which the quantile function has a closed analytical form. This solution is extended by considering a mixture model for the underlying income distribution. However, in this case, the quantile function is semi-explicit and has to be evaluated numerically. The last solution consists in adjusting directly a functional form for the Lorenz curve and deriving its first-order derivative to find the corresponding quantile function. The authors compare these models by Monte Carlo simulations and using UK data from the Family Expenditure Survey. The authors devote a particular attention to the analysis of subgroups.
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In this paper, some issues about model formulation and solving methods for the Lorenz’s model are discussed, which also deals with fundamental characteristics of non‐linear…
Abstract
In this paper, some issues about model formulation and solving methods for the Lorenz’s model are discussed, which also deals with fundamental characteristics of non‐linear models. Mainly, there existed problems that Lorenz’s model was formulated based on the weak nonlinear, and spectral expansion which changed the fundamental properties of prototype of the N‐S equations. Furthermore, its solving methods, which are based on continuously smoothing schemes, not only distorted the fundamental characteristics of non‐linear models, but also led to misunderstanding of the concept of “schaos”, which has already caused confusion to people’s way of thinking. In essence, Lorenz’s chaos is an “error volute” which is trapped into “calculation of error values”. Whether it can be named “chaos” may need to be discussed with questions.