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Learning versus Diversification in Project Choice

Subramanian, Narayanan; Menon, Nidhiya - EconWPA - 2004

We study the issue of project choice when a risk-averse agent must choose whether to invest in two projects of the same type (focus) or of different types (diversification). Projects of the same type are subject to common type-specific shocks. Hence focusing is more risky within each period, but...

Persistent link: https://www.econbiz.de/10005407512

Gains and losses: the same or different choices? A “non-ideal” economics approach.

Harin, Alexander - EconWPA - 2005

Ideal economics? A “non-ideal” economics approach has been proposed, which considers the possibility of arrangement infringements. It gives promises for both solving fundamental problems of economic theory and creation of new directions and fields of research. The approach application in...

Persistent link: https://www.econbiz.de/10005124942

Economic Costs of Diabetes in the U.S. in 2002

Dall, Tim; Nikolov, Plamen; Hogan, Paul - EconWPA - 2003

The study highlights the large and rising cost of the disease: an estimated $132 billion, or approximately $92 billion in direct healthcare expenditures and $40 billion in lost productivity attributed to missed workdays, disability, and early mortality. After adjusting for differences in...

Persistent link: https://www.econbiz.de/10005076931

The Economics of Crime: Investigating the Drugs-Crime Channel

Entorf, Horst; Winker, Peter - EconWPA - 2001

The rising trends both in drug addiction and crime rates are of major public concern in Germany. Surprisingly, the economic theory of crime seems to ignore the drugs-crime nexus, whereas the criminological literature considers illicit drug use a main reason of criminal activities. This paper...

Persistent link: https://www.econbiz.de/10005561015

Benchmarking the Health Sector in Germany – An Application of Data Envelopment Analysis

Staat, Matthias; Hammerschmidt, Maik - EconWPA - 2003

At present, a first round of hospital benchmarking as required by German law on health care reform takes place. After … extensive discussions between hospitals and insurance companies, which are jointly responsible to deliver benchmarking results … within the context of relative performance evaluation in the health care sector are discussed. In order to illustrate the …

Persistent link: https://www.econbiz.de/10005561536

Policy Uncertainty and Long-Run Investment and Output across Countries

Jeong, Byeongju - EconWPA - 2001

I explore how and and to what extent policy uncertainty can account for the observed long-run cross-country differences in capital price and levels of aggregate investment and output. I present a model economy where the industry-level policy-related investment cost is uncertain. Holding the...

Persistent link: https://www.econbiz.de/10005407527

Quantum Market Games

Piotrowski, E. W.; Sladkowski, J. - EconWPA - 2001

We propose a quantum-like description of markets and economics. The approach has roots in the recently developed quantum game theory. Quantum Zeno paradoxes and noncomutative quantum mecanics are also discussed.

Persistent link: https://www.econbiz.de/10005407589

Learning in Different Social Contests

Novarese, Marco - EconWPA - 2004

This paper aims at analysing the effects of learning on the individual behaviour in an experiment that requires cooperation and coordination within teams. Using artificial agents, different social contests are created, as training environments. The results confirm previous findings (on the...

Persistent link: https://www.econbiz.de/10005407620

A Bivariate Markov Regime Switching GARCH Approach to Estimate Time Varying Minimum Variance Hedge Ratios

Lee, Hsiang-Tai; Yoder, Jonathan - EconWPA - 2005

This paper develops a new bivariate Markov regime switching BEKK-GARCH (RS-BEKK-GARCH) model. The model is a state-dependent bivariate BEKK- GARCH model, and an extension of Gray’s univariate generalized regime- switching (GRS) model to the bivariate case. To solve the path- dependency problem...

Persistent link: https://www.econbiz.de/10005407995

Income Distributions versus Lotteries: Happiness, Response Mode Effects and Preference Reversals

Morone, Andrea; Seidl, Christian; Camacho-Cuena, Eva - EconWPA - 2004

Persistent link: https://www.econbiz.de/10005408217