Showing 1 - 10 of 14
generated by the optimization of some underlying decision criterion under uncertainty. Rather than focusing on a specific theory …
Persistent link: https://www.econbiz.de/10010933662
Persistent link: https://www.econbiz.de/10005545644
In 1972, Dreze and Modigliani Generalized the Line of Research Initiated by Leland [5] and Sandmo [8] on the Effects of Income Risk on Consumption. They Gave Necessary and Sufficient Conditions for Consumption to Decrease Under Income Risk. However, They Did Not Cover Extensively the Case of...
Persistent link: https://www.econbiz.de/10005545674
Persistent link: https://www.econbiz.de/10005353132
A contingent contract in a transferable utility game under uncertainty specifies an outcome for each possible state. It …
Persistent link: https://www.econbiz.de/10005353208
Persistent link: https://www.econbiz.de/10005353215
We Show That a Box-Cox Transformation on the Dependent Variable of Linear Regression Models Is Invariant to Power Transformations of That Variable Even Without the Presence of a Regression Constant And, Consequently, Can Sometimes Be Interpreted As a Simple Power Transformation the Estimation of...
Persistent link: https://www.econbiz.de/10005353235
'A New Idea Does Not Come Forth in Its Mature Scientific Form. It Contains Logical Ambiguities Or Errors; the Evidence on Which It Rests Is Incomplete Or Indecisive; and Its Domain of Application Is Exaggerated in Certain Directions and Overlooked in Others', Wrote Stigler (1965, P.14) in One of...
Persistent link: https://www.econbiz.de/10005353240
Persistent link: https://www.econbiz.de/10005353363
In this article we study the effect of uncertainty on an entrepreneur who must choose the capacity of his business … in our one-period framework. We show how the introduction of global uncertainty reduces the investment of the risk … optimal capacity. Our results are compared with those in the two literatures on price uncertainty and demand uncertainty, and …
Persistent link: https://www.econbiz.de/10005133187