Showing 1 - 10 of 72
Persistent link: https://www.econbiz.de/10009401085
We provide a general theorem on the aggregation of preferences under uncertainty. We study, in the Anscombe …-dependent versions of these models). We prove that aggregation is possible and necessarily linear if (society's) preferences are "smooth … possibility of aggregation of non-smooth preferences. …
Persistent link: https://www.econbiz.de/10010750424
. In this paper we consider the three classes of choice functionssatisfying the three significant axioms called heredity (H), concordance (C) and outcast (O). We show that the set of choice functions satisfying any one of these axioms is a lattice, and we study the properties of these lattices....
Persistent link: https://www.econbiz.de/10010750440
The paper addresses the problem of extending aggregation operators typically defined on $[0,1]$ to the symmetric … interval $[-1,1]$, where the ``0'' value plays a particular role (neutral value). We distinguish the cases where aggregation … using an interpolation approach, supposing the value of the aggregation to be known for ternary vectors. …
Persistent link: https://www.econbiz.de/10010750530
that aggregation is possible and necessarily linear if and only if (society's) preferences are uncertainty neutral. The … number of ways to restore the possibility of aggregation are then discussed. …
Persistent link: https://www.econbiz.de/10010750533
The issue of technological unemployment receives perennial popular attention. Although there are previous empirical investigations that have focused on the relationship between innovation and employment, the originality of our approach lies in our choice of method. We focus on four 2-digit...
Persistent link: https://www.econbiz.de/10010750726
The one-year prediction error (one-year MSEP) proposed by Merz and Wüthrich has become a market-standard approach for the assessment of reserve volatilities for Solvency II purposes. However, this approach is declined in a univariate framework. Moreover, Braun proposed a closed-formed...
Persistent link: https://www.econbiz.de/10010899719
We analyze the aggregation problem without the assumption that individuals and society have fully determined and … utilities, where it basically reduces to utilitarianism. In particular, aggregation rules may differ by the relationship between … individual and social indeterminacy. We characterize several subclasses of neutral aggregation rules and show that utilitarian …
Persistent link: https://www.econbiz.de/10010784099
We analyze the aggregation problem without the assumption that individuals and society have fully determined and … utilities, where it basically reduces to utilitarianism. In particular, aggregation rules may differ by the relationship between … individual and social indeterminacy. We characterize several subclasses of neutral aggregation rules and show that utilitarian …
Persistent link: https://www.econbiz.de/10011025649
We provide a generalization of Harsanyi (1955)'s aggregation theorem to the case of incomplete preferences at the … aggregation rules that are utilitarian in a generalized sense. Strengthening Pareto indifference to Pareto preference provides a …
Persistent link: https://www.econbiz.de/10011025731