Terry F. Glover

The weak-form efficiency of the Taiwan share market

This paper evaluates monthly stock index price from the Taiwan stock market for evidence of weak form market efficiency. Four empirical methodologies are employed: the Ljung-Box Q test, the binomial distribution test, the runs test and the unit root test of stationarity in stock prices. Empirical evidence suggests that the monthly stock price for the Taiwan stock market exhibits weak-form efficiency.

Optimal extraction of petroleum resources: An empirical approach

Abstract Petroleum reservoir behavior at different levels of reservoir pressure is estimated with the actual well data and reservoir characteristics. Using the pressure at the bottom of producing wells as control variables, the time paths of profit maximizing joint production of oil and natural gas under various tax policies are obtained using a dynamic optimization approach. The results emerge from numerical solution of the maximization of estimated future expected revenues net of variable costs in the presence of taxation. Higher discount rate shifts the production forward in time and prolongs the production plan. The analysis of the state, corporate income taxes and depletion allowance reveals the changes in the revenues to the firm, the state and the federal governments.

The effects of group size and income on contributions to the Corporation for Public Broadcasting

This paper examines the extent to which individual contributions to public television are explained by the size of the audience which receives the individual stations television signal. It also incorporates the effects of income on contributions to public television in order to assess the combined effects of income and group size on contributions to public goods.The existing literature on contributions to public goods differs from this paper in several respects. First, this study uses field data to test the effects of group size on a public good. The majority of the existing literature on public goods contributions is based on experimental data. Most of this literature addresses the issue of free riding behavior, not the effects on contributions of different sized groups. Finally, the theory of group size developed in prior work does not address the issue of how contributions differ for groups which are very different in size.

Price impacts of concentration, timing, and product characteristics in a feeder cattle video auction

This research investigates the differential effect of timing and product characteristic based measures of buyer concentration on the selling price of auctioned feeder cattle. Empirical results suggest that the fundamental dynamic price generation mechanism in feeder cattle auctions is affected by measures of buyer concentration.