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it to multiple priors and non additive probability models of uncertaity. In these models there is non distinction between …
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We re-examine the probabilistic foundation of the link between Z-score measures and banks' probability of insolvency …, offering an improved measure and banks' probability of insolvency, offering an improved measure of that probability without … imposing further distributional assumptions. While the traditional measure of the probability of insolvency thus provides a …
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The paper studies optimal redistributive taxation when the government cannot commit the future policy. The framework used is one in which individuals can revise their consumption-savings decisions slightly more often than the government can change tax policy.
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Shackle's theory of decision-making under uncertainty and the background to it are outlined. Its major prediction about action-choice is set out and proved. An experimental design to test its veracity is described; a design that it is demonstrated will make it possible to discriminate between...
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