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Gaps in welfare attainment between boys and girls in China have attracted international attention. In this paper demand analysis is used to try and uncover the factors which may be driving the emergence of the gender gaps. Drawing on household expenditure data from a poor (Sichuan) and rich...
Persistent link: https://www.econbiz.de/10010928624
This article introduces the Emergency Purchasing Situation (EPS) as a distinct buying context. EPSs stem from an unexpected event (unanticipated need or timing of a need), as well as high product importance, which are associated with a short time frame for consumer decision-making. Our...
Persistent link: https://www.econbiz.de/10011126285
This paper sets out a general algorithm for calculating true cost-of-living indices or true producer price indices when demand is not homothetic, i.e. when not all expenditure elasticities are equal to one. In principle, economic theory tells us how we should calculate a true cost-of-living...
Persistent link: https://www.econbiz.de/10011071515
This article reports a study that tests whether the internal consistency of the standard gamble can be improved upon by incorporating loss weighting and probability transformation parameters in the standard gamble valuation procedure. Five alternatives to the standard EU formulation are...
Persistent link: https://www.econbiz.de/10010928594
Necessary and sufficient conditions are derived for optimal saving in a stochastic neo-classical one-good world with discrete time. The usual technique of dynamic programming is replaced by classical variational and concavity arguments, modified to take account of conditions of measurability...
Persistent link: https://www.econbiz.de/10010928732
It is known from the literature on uncertainty that in cases where individuals express a preference for a high win …
Persistent link: https://www.econbiz.de/10010928778
Globalizing knowledge economies foster conditions that intensify the role and value of organizational reputation risk. In a holistic, enterprise focused era reputation is a key strategic construct that can act as a boundary object linking communities within and between organizations. Yet...
Persistent link: https://www.econbiz.de/10010744830
Many financial applications, such as risk analysis and derivatives pricing, depend on time scaling of risk. A common method for this purpose, though only correct when returns are iid normal, is the square–root–of–time rule where an estimated quantile of a return distribution is scaled to a...
Persistent link: https://www.econbiz.de/10010745168
This paper surveys asset allocation methods that extend the traditional approach. An important feature of the traditional approach is that measures the risk and return tradeoff in terms of mean and variance of final wealth. However, there are also other important features that are not always...
Persistent link: https://www.econbiz.de/10010745189
The most usual procedure when facing decisions in complex settings consists in consulting experts, aggregating the information they provide, and deciding on the basis of this aggregated information. We argue that such a procedure entails a substantial loss, insofar as it precludes the...
Persistent link: https://www.econbiz.de/10010745334