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Chow's Method of Optimal Control: A Numerical Solution
Chow, Gregory C.; Kwan, Yum K. - EconWPA - 2003
Persistent link: https://www.econbiz.de/10005126079
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Risk Aversion and Expected-Utility Theory: A Calibration Theorem
Rabin, Matthew - EconWPA - 2001
Within the expected-utility framework, the only explanation for risk aversion is that the utility function for wealth is concave: A person has lower marginal utility for additional wealth when she is wealthy than when she is poor. This paper provides a theorem showing that expected-utility...
Persistent link: https://www.econbiz.de/10005076662
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Scientific Revolution. A Farewell to EconWPA.
Harin, Alexander - EconWPA - 2005
transition may be a new aspect of uncertainty. Problems, which can be solved, research fields, which can be augmented or created …
Persistent link: https://www.econbiz.de/10005126070
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The Effect of Affect on Economic and Strategic Decision Making
Hermalin, Benjamin E.; Isen, Alice M. - EconWPA - 2000
Persistent link: https://www.econbiz.de/10005126084
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The Varieties of Subjectivism: Keynes and Hayek on Expectations
Butos, William N.; Koppl, Roger G. - EconWPA - 1995
issues of time and uncertainty in economics. The source of the difference between their economic ideas was the difference …
Persistent link: https://www.econbiz.de/10005076652
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Uncertainty in the Austrian Theory of Capital
Schmitz, Stefan W. - EconWPA - 2002
focuses on the uncertainty of future returns and on uncertainty preferences, instead. Based on the Hayekian idea of the … uncertainty. This result will be derived for a production process characterized by complete vertical integration and one which is …
Persistent link: https://www.econbiz.de/10005561050