This paper intends to explore the utilization of entropy through politics and election results, an area just slightly explored. It generalizes the interpretation of entropy, considering it a measure of dissatisfaction and disillusion of populations in relation to politics. Some phenomena like...

This paper estimates von Neumann andMorgenstern utility functions comparing the generalized maximum entropy (GME) with OLS, using data obtained by utility elicitation methods. Thus, it provides a comparison of the performance of the two estimators in a real data small sample setup. The results...

This paper utilizes several tests to analyze serial dependence in financial data. In an attempt to provide a better explanation of the behavior of financial markets, we utilized tests that make use of mutual information and developed a detrended fluctuation analysis (DFA). Applying these tests...

Methodologies related with information theory have been increasingly used in studies in economics and management. In this paper we use Generalized Maximum Entropy as an alternative to the Ordinary Least Squares in the estimation of utility functions. We estimated linear, logarithmic and power...

Entropy is a measure of information and uncertainty which has been used recently in different areas, besides of its original utilization in physics. Finance, microeconomics, macroeconomics, utility functions or even psychology are approached areas, using analogies between the areas physics and...

Entropy is a measure of information and uncertainty which has been used recently in different areas, besides of its original utilization in physics. Finance, microeconomics, macroeconomics, utility functions or even psychology are approached areas, using analogies between the areas physics and...

Hedonic methods are a prominent approach in the construction of quality-adjusted price indexes. This paper shows that the process of computing such indexes is substantially simplified if arithmetic (geometric) price indexes are computed based on exponential (log-linear) hedonic functions...

The aim of this paper is to analyze the equilibrium default risk in a two-stage duopoly model, where firms decide their financial structure in the first stage of the game and take their output market decisions in the second stage of the game. Using the framework of Brander and Lewis (1986) we...

We relate technological adoption (of different technologies) with income inequality. We discovered that some technologies such as aviation, cell phones, electric production, internet, telephone, and TV are skill-complementary in raising inequality. We constructed standardized indexes of...

In this paper we suggest simple moment-based estimators to deal with unobserved heterogeneity in a special class of nonlinear regression models that includes as main particular cases exponential models for nonnegative responses and logit and complementary loglog models for fractional responses....