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Victor Avramov
Time Series Analysis of Prices and Quantities at the Bulgarian Electricity Exchange in Conditions of Low Liquidity
Summary:
This article analyzes the time series of prices and quantities on the Bulgarian electricity exchange. The focus is on the period between January 2016 and June with the assumption that in this initial period for its operation, the stock exchange trade is not sufficiently liquid. Statistical tests and seasonal decomposition of quantities and prices are made. This allows the determination of their statistical properties. The analysis shows that both time series are characterized by mean reversion and have a weekly seasonality.
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Mihail Mihaylov, Margarita Gergova, Kiril Mitov, Rositsa Koleva, Lyudmila Doncheva, Krasimir Kulchev, Bilyu Bilev
Ideas for Improving the Organization of Training Students in Business Analysis
Summary:
The essay offers ideas for improving the organization of training students in Business Analysis. It outlines the modern trends in the education process and shows approved practices with their importance for stimulating students' individual work. The emphasis is on the use of innovation technologies and teaching aids.
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Ivan G. Ivanov, Nonka Georgieva
A Linear Matrix Inequality Method for Stochastic Model on Markov Jump Linear Systems
Summary:
We consider a special class of linear quadratic stochastic models on Markov jump linear system. The aim is to find the best control function for a model. The search of the control function passes trough the computation of the maximal solution to a system of the general discrete time Riccati equations. An effective method for finding the maximal solution is the method of a linear matrix inequality (a standard method). In this paper we present two new modifications of the method of a linear matrix inequality. The numerical experiments for comparing the computational characteristics of the modified methods and the standard method are executed. The numerical experiments show the effectiveness of new methods to the standard method.
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Rumyana Chonova Stoykova, Vanya Ganeva
The Leisure of Pupils from Schools of Svishtov
Summary:
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William Barnett Ii, Walter E. Block
The Rate of Time Preference: a Praxeological Oxymoron
Summary:
In ordinal utility analysis, one can but prefer or set aside. A person can choose option A or option B. Chalk or cheese, guns or butter. There cannot be any such thing as a rate at which a man engages in such activities. Cardinality cannot enter into the picture. No one prefers a given amount of chalk twice as much as cheese. This basic praxeological insight should not be lost sight of when we enter the more complex realm of time preference and interest rate determination. And yet, it commonly is. For we all speak of a “time preference rate.” This is an oxymoron and a praxeological monstrosity. The present paper is devoted to promoting clear thinking by attempting to purify economic language, so as to jettison the concept of a “time preference rate.”
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Ludwig Von Mises
Human Action, Part Four, Chapter XVIII. Action in the Passing of Time, && 1-4
Summary:
Acting man distinguishes the time before satisfaction of a want is attained and the time for which the satisfaction continues. Action always aims at the removal of future uneasiness, be it only the future of the impending instant. Between the setting in of action and the attainment of the end sought there always elapses a fraction of time, viz., the maturing time in which the seed sown by the action grows to maturity. The most obvious example is provided by agriculture. Between the tilling of the soil and the ripening of the fruit there passes a considerable period of time. Another example is the improvement of the quality of wine by aging. In some cases, however, the maturing time is so short that ordinary speech may assert that the success appears instantly. As far as action requires the employment of labor, it is concerned with the working time. The performance of every kind of labor absorbs time. In some cases the working time is so short that people say the performance requires no time at all.
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Ludwig Von Mises
Human Action, Part Four, Chapter XVII. Action in the Passing of Time, && 5-9
Summary:
Capital goods are intermediary steps on the way toward a definite goal. If in the course of the period of production the goal is changed, it is not always possible to use the intermediary products already available for the pursuit of the new goal. Some of the capital goods may become absolutely useless, and all expenditure made in their production appears now as waste. Other capital goods could be utilized for the new project but only after having been subjected to a process of adjustment; it would have been possible to spare the costs required by this alteration if one had from the start aimed at the new goal. A third group of capital goods can be employed for the new process without any alteration; but if it had been known at the time they were produced that they would be used in the new way, it would have been possible to manufacture at smaller cost other goods which could render the same service. Finally there are also capital goods which can be employed for the new project just as well as for the original one.
