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Asymmetric loss utility: an analysis of decision under risk
Strashny, Alex - EconWPA - 2004
This paper develops a utility model for evaluating lotteries. In estimating utility, risk averse people use an asymmetric loss function. Expected utility is seen as a special case that is a good approximation in some cases. The model resolves several paradoxes and makes easily falsifiable...
Persistent link: https://www.econbiz.de/10005118544
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The Pearson system of utility functions
LiCalzi, Marco; Sorato, Annamaria - EconWPA - 2003
utility and prospect theory. We also describe an alternative technique to estimate the four parameters from elicited utilities …
Persistent link: https://www.econbiz.de/10005118574
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Asymmetric loss utility: an analysis of decision under risk
Strashny, Alex - EconWPA - 2004
This paper develops a utility model for evaluating lotteries. In estimating utility, risk averse people use an asymmetric loss function. Expected utility is seen as a special case that is a good approximation of the general case in some cases. The model resolves several paradoxes and makes...
Persistent link: https://www.econbiz.de/10005118587
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A new approach to solve old problems
Harin, Alexander - EconWPA - 2005
fundamental concept of the economic theory. Infringements (breaches, modifications, deviations, changes, etc.) of arrangements are … common and have a significant importance for the economic theory. For many years now the arrangement infringements have … lacked appropriate attention in the economic theory. This fact caused a number of theoretical and practical problems. In …
Persistent link: https://www.econbiz.de/10005118588
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Management von Mitarbeiterrisiken in Unternehmen Theoretische Grundlagen und Entwicklung eines praxistauglichen Erfassungs- und Auswertungsverfahrens
Dannenberg, Henry - EconWPA - 2005
Die vorliegende Arbeit stellt einen Beitrag zur Bewertung von Mitarbeiterrisiken in Unternehmen dar. Es werden Ursachen determiniert, die einen Mitarbeiterausfall zur Folge haben. Diese werden auf ihre Eintrittswahrscheinlichkeit sowie möglicher Schäden hin untersucht. Darauf aufbauend wird...
Persistent link: https://www.econbiz.de/10005118593
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Risk Pooling, Commitment, and Information: An experimental test of two fundamental assumptions
Barr, Abigail - EconWPA - 2004
This paper presents rigorous and direct tests of two assumptions relating to limited commitment and asymmetric information that current underpin current models of risk pooling. A specially designed economic experiment involving 678 subjects across 23 Zimbabwean villages is used to solve the...
Persistent link: https://www.econbiz.de/10005118664
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The Option Value of Scientific Uncertainty on Pest - Resistance Development of Transgenic Crops
Wesseler, Justus - EconWPA - 2002
In this paper the option value of waiting under scientific uncertainty will be derived using the difference between the geometric Brownian motion and the mean reverting process by applying contingent claim analysis. The results will be compared with those generated by either using a geometric...
Persistent link: https://www.econbiz.de/10005118857
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FIREFIGHTS AND FUEL MANAGEMENT: A NESTED ROTATION MODEL FOR WILDFIRE RISK MITIGATION
Lankoande, Marian; Yoder, Jonathan - EconWPA - 2005
Scientists and policymakers are increasingly aware that wildfire management efforts should be broadened beyond the century-long emphasis on suppression to include more effective efforts at fuel management. Because wildfire risks change over time as vegetation matures, fuel management can be...
Persistent link: https://www.econbiz.de/10005118903
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Do We Need a New Point System in Professional Football Leagues?
Halicioglu, Ferda - EconWPA - 2005
This paper analyses the impact of point systems on the degree of competition in professional football leagues via the annual coefficient of variation (CV) of end-of-season points. The past, existing and some alternative point systems were applied to a hypothetical football league consisting of...
Persistent link: https://www.econbiz.de/10005118904
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Optimal Annual Contributions to Flexible Spending Accounts: A Rule-of-Thumb
Cuddington, John T. - EconWPA - 1998
This note argues that many employees under-contribute to so-called flexible spending accounts. A simple rule-of-thumb is developed for making optimal contributions (for risk neutral employees): After-tax income net of (uncertain) medical expenditures will be maximized if you contribute to your...
Persistent link: https://www.econbiz.de/10005062372