Toward a Systematic Approach to the Economic ... - Christian Gollier
second-order stochastic dominance is an example of an unconditional risk comparison. ... wealth of an agent who does not purchase the contract, оi is the random .... Other forms of conditional stochastic dominance could be considered.
Jan 7, 2000 - This question is relevant for entrepreneurs who face different non- ... The idea that independent risky projects are substitutes has not received.
contributed to this work from the Department of Management. Studies, Wageningen University, and the Department of Agricul- tural and ... In both cases, the common practice ... appear to conform with the solutions suggested ... model viewed hedging as
Jul 7, 2000 - Skinner (1988), Deaton (1992) and Carroll (1994, 1997) provide clear ex- positions of the theory of life-cycle consumption under uncertainty.
tion process is controlled only by very few tuning parameters corresponding ... the feature space can be regarded as the empirical probability density function (p.d.f.) of the ... tool for feature space analysis and can provide reliable solutions for
PAPER Special Section on Discrete Mathematics and Its Applications. A Combinatorial Approach to ..... Operations Research from Cornell Uni- versity in 1992.
to the shape of the cost curves. For instance, the properties of these curves ..... Under risk vulnerability, a zero0mean background risk reduces the demand.
PAPER Special Section on Discrete Mathematics and Its Applications. A Combinatorial Approach to ..... Operations Research from Cornell Uni- versity in 1992.
The first effect the larger expected GDP per capita enjoyed by the more distant generation. .... discount rate corresponding to maturity n is the critical rate of return yn that .... xt = 4/24â1 is random, a third determinant to the short term inte
Mar 21, 2011 - this paper, we derive, under mild regularity assumptions, a class of moment conditions .... In this case, the p.d.f. of a random variable x equals.
Jul 7, 2000 - We examine the equilibrium consumption and portfolio strategies in an .... de¯ne the notion of a riskier portfolio in the complete market setting, this ..... The search for an equilibrium is much simpli¯ed if we assume that agents.
whose wealth f may be reduced by a random damage h+. To protect .... time,4 it became popular in the economics and finance literature after the publication of .... tive statics result, they had to make assumptions about the behavior of the likelihood
coordinates of the vertices of the polyhedral shape are modeled as a first order ... approach is considered in which the number of vertices of the polyhedron is.
Feb 29, 2000 - flows on lines as standard as automobile insurance or homeowner ..... rather than contract D is 11âTO) D. This is the marginal net cost.
quantitative tests of Amsel's and other's theories of instrumen- tal learning and ..... The retrospective curves fit the data quite well, accounting on the average for ...
Our conclusion does imply, however, that the Solow model gives the right answers to the questions it is designed to address. I. THE TEXTBOOK SOLOW MODEL.
the literature--data from many rats, taken over the course of many trials. .... ing after they had traversed only one fifth of the alley. These interactions are ... To answer that question, we require data ..... Elements of the theory of Markov Pro-.
Jan 14, 2013 - Vinyl polymerization; all segments of the backbone chains have equal probability to be ..... adipic acid units, 3 glycol units, and 2 glycerol units?
Anti-PSA antibody presented here synthe- sized at VUB, protocol developed by ... layer proteins adsorption on gold coated glass monitored at 633 and 670 nm, ...
subject and an application to finite state space Markov Chains in Chapter 3. ... distribution µ at t = 0, we assume that {Xt} is a Markov chain with a stationary KÃK.
Sep 22, 2006 - In a recent paper (European Journal of Operational Research, 158, .... A major breakthrough for the application of fuzzy integrals in MCDM ...... sion making, Advances in MCDM models, algorithms, theory and applications, pp.
Purpose: integration of legal theory and legal informatics, shared foundations ..... So also X has the power to create contractual obligations of various kinds.
