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The n-dimensional Bailey–Divisia measure as a general-equilibrium measure of the welfare costs of inflation

Cysne, Rubens Penha - In: Economics Letters 113 (2011) 2, pp. 99-102

This paper shows that in economies with several monies the Bailey–Divisia multidimensional consumers’ surplus formula may emerge as an exact general-equilibrium measure of the welfare costs of inflation, provided that preferences are quasilinear.

Persistent link: https://www.econbiz.de/10010576436

A note on almost stochastic dominance

Guo, Xu; Zhu, Xuehu; Wong, Wing-Keung; Zhu, Lixing - In: Economics Letters 121 (2013) 2, pp. 252-256

Both the expected-utility maximization and the hierarchy property are very important properties in stochastic dominance. For almost stochastic dominance, Leshno and Levy (2002) propose a definition and Tzeng et al. (2013) modified it to give another definition. This note provides more...

Persistent link: https://www.econbiz.de/10011041684

Adolescents, cognitive ability, and minimax play

Geng, Sen; Peng, Yujia; Shachat, Jason; Zhong, Huizhen - In: Economics Letters 128 (2015) C, pp. 54-58

mixed strategy minimax solutions. Further, we collect subject information on cognitive abilities and participation rates in … competitive activities. We find the adolescents’ correspondences with and deviations from minimax play largely consistent with … mixed minimax strategy as well as earnings are not correlated with cognitive ability or experience in competitive situations. …

Persistent link: https://www.econbiz.de/10011208451