Risk Altering Transformations and Their Comparative Statics
Author : Jack A. Meyer
Publisher :
Page : 60 pages
File Size : 42,5 MB
Release : 1984
Category :
ISBN :
Author : Jack A. Meyer
Publisher :
Page : 60 pages
File Size : 42,5 MB
Release : 1984
Category :
ISBN :
Author : Helei Qu
Publisher :
Page : 188 pages
File Size : 40,15 MB
Release : 1994
Category : Risk
ISBN :
Author : Kee Nam Cheung
Publisher :
Page : 19 pages
File Size : 49,86 MB
Release : 1993
Category :
ISBN :
Author : Thomas B. Fomby
Publisher : Springer Science & Business Media
Page : 233 pages
File Size : 22,11 MB
Release : 2012-12-06
Category : Business & Economics
ISBN : 1461389224
Studies in the Economics of Uncertainty presents some new developments in the economics of uncertainty produced by leading scholars in the field. The contributions to this Festschrift in honor of Professor Josef Hadar of Southern Methodist University cover a broad range of topics centered on the principle of Stochastic Dominance. Topics covered range from theoretical and statistical developments on Stochastic Dominance to new applications of the Stochastic Dominance Theory. The intended audience includes researchers interested in recent developments in tools used for decision-making under uncertainty as well as economists currently applying Stochastic Dominance principles to the analysis of the Theory of Firm, International Trade, and the Theory of Finance.
Author : Soojong Kim
Publisher :
Page : 328 pages
File Size : 48,38 MB
Release : 1998
Category : Risk
ISBN :
Author : J. Geweke
Publisher : Springer Science & Business Media
Page : 256 pages
File Size : 15,47 MB
Release : 2012-12-06
Category : Business & Economics
ISBN : 9401128383
As desired, the infonnation demand correspondence is single valued at equilibrium prices. Hence no planner is needed to assign infonnation allocations to individuals. Proposition 4. For any given infonnation price system p E . P (F *), almost every a E A demands a unique combined infonnation structure (although traders may be indifferent among partial infonnation sales from different information allocations, etc. ). In particular, the aggregate excess demand correspondence for net combined infonnation trades is a continuous function. Proof Uniqueness fails only if an agent can obtain the same expected utility from two or more net combined infonnation allocations. If this happens, appropriate slight perturbations of personal probability vectors destroy the equality unless the utility functions and wealth allocations were independent across states. Yet, when utilities and wealths don't depend on states in S, no infonnation to distinguish the states is desired, so that the demand for such infonnation structures must equal zero. To show the second claim, recall that if the correspondence is single valued for almost every agent, then its integral is also single valued. Finally, note that an upper hemicontinuous (by Proposition 2) correspondence which is single valued everywhere is, in fact, a continuous function. [] REFERENCES Allen, Beth (1986a). "The Demand for (Differentiated) Infonnation"; Review of Economic Studies. 53. (311-323). Allen, Beth (1986b). "General Equilibrium with Infonnation Sales"; Theory and Decision. 21. (1-33). Allen, Beth (1990). "Infonnation as an Economic Commodity"; American Economic Review. 80. (268-273).
Author : Christian Gollier
Publisher :
Page : 36 pages
File Size : 14,82 MB
Release : 1991
Category :
ISBN : 9782854184112
Résumé en anglais
Author : Suyeol Ryu
Publisher :
Page : 244 pages
File Size : 34,29 MB
Release : 2001
Category : Economics, Mathematical
ISBN :
Author : Steinar Ekern
Publisher :
Page : 13 pages
File Size : 25,39 MB
Release : 1978
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Author : Dionne, Georges
Publisher : Montréal : Université de Montréal, Dép. de sciences économiques
Page : 20 pages
File Size : 22,68 MB
Release : 1992
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ISBN :