The aim of this paper is to propose a model of decision-making for lotteries. The key element of the theory is the use of lottery qualities. Qualities allow the derivation of optimal decision-making processes and are taken explicitly into account for lottery evaluation. Our contribution explains...

Who Is the Greatest Culprit for Inflation in Canada: the Private Or the State Enterprises? and Inside Each of Them, Is It Labor Or Capital (Real and Financial) Which Is Pushing Upward the Price Level Most Strongly? the Aim of This Paper Is to Test Such Hypotheses From a Sample over the Last Ten...

In this paper, we provided a unifying analysis of latent variable models in finance through the concept of stochastic discount factor (SDF).