This paper describes a numerically efficient Machine Learning approach for solving the farm manager’s land allocation problem in a manner that requires neither a distributional assumption on crop returns nor an expected utility specification. The method is based on the idea that a farm manager...

This study generalizes the nonparametric approach to option pricing of Stutzer, M. (1996) by demonstrating that the canonical valuation methodology introduced therein is one member of the Cressie–Read family of divergence measures. Alhough the limiting distribution of the alternative measures...

A common result in the trade literature is that a small country will realize gains from a bilateral free trade agreement with a large country. McLaren (1997) casts aspersions on this traditional belief by demonstrating that irreversible investment in the small country, with the possibility of...

This paper generalizes the nonparametric approach to option pricing of Stutzer (1996) by demonstrating that the canonical valuation methodology in- troduced therein is one member of the Cressie-Read family of divergence mea- sures. While the limiting distribution of the alternative measures is...

We demonstrate that shortfall-minimizing portfolio selection based on the Cressie- Read family of divergence measures maps to the HARA family. This means that all HARA utility functions can be interpreted as “endogenous” in the sense described in Stutzer (2003), and that traditional HARA...

A common result in the trade literature is that a small country will realize gains from a bilateral free trade agreement with a large country. McLaren (1997) casts aspersions on this traditional belief by demonstrating that irreversible investment in the small country, with the possibility of...

We construct an agency-based model of incentive contracting within the education system. We use this framework to evaluate first-best, second-best, and pooling contracts under a variety of assumptions germane to the consolidation of elementary and secondary schools. By introducing a monitoring...

Heady (1952) suggests that farm managers seek the allocation of crops that best minimizes the probability of realizing a disastrous harvest. I use this intuitive idea to construct a normative model of land allocation that is more robust to distributional assumptions and utility specifications...

This paper ranks 95 journals germane to the health economist. The ranking is computed using the h-index and g-index, which are popular citation-based metrics reported by Harzing’s Publish or Perish software. Additional ranking metrics are also discussed. The intention is to create a list that...

This paper describes a flexible way to unify the many disparate citation-based journal ranking metrics commonly used to assess the relative merit of academic business journals. The guiding principle for the proposed approach is the simple and intuitively appealing idea that a journal in a given...