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Technological Inefficiency and the Skewness of the Error Component in Stochastic Frontier Analysis
Carree, Martin A. - Tinbergen Instituut - 2002
This paper concentrates on negatively skewed one-sided distributions as an explanation ofthe occurence of positive (negative) skewness in the case of stochastic production (cost) frontieranalysis. It takes as example the binomial distribution that can have negative or positive skewand derives...
Persistent link: https://www.econbiz.de/10011256458
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The Core of Pure Economic Loss
Dari-Mattiacci, Guiseppe; Schäfer, Hans-Bernd - Tinbergen Instituut - 2006
Should loss of earnings be compensated? The established law and economics wisdom considers pure economic loss as a transfer of wealth from the victim to a third party, whose earnings increase as a consequence of the accident. Such transfers do not amount to a social loss and, hence, should not...
Persistent link: https://www.econbiz.de/10011256478
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Vulnerability in a Stochastic Dynamic Model
Elbers, Chris; Gunning, Jan Willem - Tinbergen Instituut - 2003
Most measures of vulnerability are a-theoretic and essentially static. In this paper we use a stochastic Ramsey model … to find a household's optimal welfare and we measure vulnerability as the shortfall from the welfare attained if the … household consumed permanently at the poverty line. The results indicate that vulnerability is very sensitive to the time …
Persistent link: https://www.econbiz.de/10011256677