This paper studies the impact of background risk on the indifference curve. We first study the shape of the indifference curves for the investment with background risk for risk averters, risk seekers, and risk-neutral investors. Thereafter, we study the comparative statics of the change in the...

This paper is concerned with estimation of a predictive density with parametric constraints under Kullback–Leibler loss. When an invariance structure is embedded in the problem, general and unified conditions for the minimaxity of the best equivariant predictive density estimator are derived....

Summary In a scheme of independent, possibly Type-II censored samples, joint estimation of scale parameters is considered under an order statistics prior leading to strictly ascendingly ordered Bayes estimators. The focus is on deriving handy closed-form expressions for the estimators