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Economics

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A percolation model of innovation in complex technology spaces

Article Abstract:

Innovations are known to arrive in high clusters; their distribution is highly skewed and appears to obey a power law or lognormal distribution. Many scholars have seen technological change as following technological trajectories and being subject to paradigm shifts from time to time. A study to understand these empirical observations using a complex technology space based on percolation theory is presented.

United States, Analysis, Technological innovations, Econometric models

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Applications of generalized method of moments estimation

Article Abstract:

Issues concerning the use of the method of moments approach to parameter estimation are discussed. It is argued that this approach can be used to gain parameter estimators that are consistent under weak distributional assumptions. Significant generalized method of moments gains are most likely in time series or panel data applications with neglected serial correlation.

Methods, Parameter estimation

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Applications of randomized low discrepancy sequences to the valuation of complex securities

Article Abstract:

The quasi-random Monte Carlo method is considered for randomized low discrepancy sequences to the valuation of complex securities.

Models, Usage, Securities, Monte Carlo method, Monte Carlo methods

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