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Evaluating Welfare and Economic Effects of Raised Fertility
Makarski, Krzysztof - 2019
Many countries consider rising fertility through pro-family policies as a solution to the fiscal pressure stemming from longevity. However, an increased number of births implies immediate private costs and only delayed public benefits of younger and larger population. We propose using an...
Persistent link: https://www.econbiz.de/10012870210
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Interpersonal Comparisons of Utility : An Algebraic Characterization of Projective Preorders and Some Welfare Consequences
Candeal Haro, Juan Carlos; Indurain, E.; Molina, Jose … - 2021
It is shown that any completely preordered topological real algebra admits a continuous utility representation which is an algebra-homomorphism (i.e., it is linear and multiplicative). As an application of this result, we provide an algebraic characterization of the projective (dictatorial)...
Persistent link: https://www.econbiz.de/10013317217
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Inequality in an OLG Economy with Heterogeneous Cohorts and Pension Systems
Tyrowicz, Joanna - 2018
We analyze the consumption and wealth inequality in an OLG model with mandatory pension systems. Our framework features within cohort heterogeneity of endowments and heterogeneity of preferences. We allow for population aging and gradual decline in TFP growth. We show four main results. First,...
Persistent link: https://www.econbiz.de/10012915325
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Agreement Theory and Consensus
Candeal Haro, Juan Carlos - 2012
In order to formalize the act of agreement between two individuals, the concept of consensus functional equation, for a bi-variate map defined on an abstract choice set, is introduced. Then, and in a purely choice-theoretical framework, we relate the solutions of this equation to the notion of a...
Persistent link: https://www.econbiz.de/10013112791
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Consumer Debt and Default : A Macro Perspective
Exler, Florian - 2020
In this survey, we review the quantitative macroeconomic literature analyzing consumer debt and default. We start by providing an overview of consumer bankruptcy law in the US and document the relevant institutional changes over time. We proceed with a comprehensive empirical section, describing...
Persistent link: https://www.econbiz.de/10012841017
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Artificial Intelligence and the Economics of Decision-Making
Naudé, Wim - 2023
decisions. In this challenge, they confront two questions: what decision theory to follow and how to implement it in AI systems … theory Expected Utility Theory (EUT) can help AI systems with utility functions to deal with the problem of instrumental …
Persistent link: https://www.econbiz.de/10014259545
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Sectoral Linkage in the Ethiopian Economy : A Social Accounting Matrix Multiplier Analysis
Kebede, Selamawit; Heshmati, Almas - 2023
This research investigates the Ethiopian economy's sectoral linkages. It examines the forward and backward production and total linkages of the industry with the agriculture and service sectors. The import penetration and export intensity of the agriculture-based industry and the manufacturing...
Persistent link: https://www.econbiz.de/10014263919
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Endogenous Indoctrination : Occupational Choice, the Evolution of Beliefs, and the Political Economy of Reform
Saint-Paul, Gilles - 2009
favourable to the market economy. Two parameters that govern this capacity to learn are social entropy and heritability. Social … entropy defines how predictable one's occupation is as a function of one's beliefs. Heritability is the weight of the family …'s beliefs in the determination of the priors of a new generation. Both heritability and social entropy reduce the bias and makes …
Persistent link: https://www.econbiz.de/10013155704
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Entropy Methods for Identifying Hedonic Models
Dupuy, Arnaud - 2014
This paper contributes to the literature on hedonic models in two ways. First, it makes use of Queyranne's reformulation of a hedonic model in the discrete case as a network flow problem in order to provide a proof of existence and integrality of a hedonic equilibrium and efficient computational...
Persistent link: https://www.econbiz.de/10013053440
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Robust Dynamic Panel Data Models Using E-Contamination
Baltagi, Badi H. - 2020
This paper extends the work of Baltagi et al. (2018) to the popular dynamic panel data model. We investigate the robustness of Bayesian panel data models to possible misspecication of the prior distribution. The proposed robust Bayesian approach departs from the standard Bayesian framework in...
Persistent link: https://www.econbiz.de/10012834582