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Persistent link: https://www.econbiz.de/10011091655
Abstract: In the tradition of Afriat (1967), Diewert (1973) and Varian (1982), we provide a revealed preference characterisation of the representative consumer. Our results are simple and complement those of Gorman (1953, 1961), Samuelson (1956) and others. They can also be applied to data very...
Persistent link: https://www.econbiz.de/10011091961
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This paper explores the manner in which the structure of a social network constrains the level of inequality that can be sustained among its members. We assume that any distribution of value across the network must be stable with respect to coalitional deviations, and that players can form a...
Persistent link: https://www.econbiz.de/10011092255
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to under-estimate the probability of success in the long run.In particular, individuals who were given the stage by stage … probability distribution failed to aggregate this information in a multi-stage case.Estimations of the long run probability … distribution did not differ much from the given stage-by-stage probability distribution, and were systematically lower than the …
Persistent link: https://www.econbiz.de/10011090383
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We present an algorithm to determine both a lower and an upper bound for the finite-time probability of ruin for a risk … probability of ruin in case premium income for a time interval is received at the beginning (resp. end) of that interval, which …
Persistent link: https://www.econbiz.de/10011090827
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disutility can control their mistake probability, i.e., the probability of implementing another pure strategy than intended. This …
Persistent link: https://www.econbiz.de/10011092368