We investigate optimal buy-and-hold strategies for terminal wealth problems in a multi-period framework. As terminal wealth is a sum of dependent random variables, each of these variables corresponding to an amount of capital that has been invested in a particular asset at a particular date, we...

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In this paper we assume that choice of commodities at the individual (household) level is made inside the budget set and that the choice can be described by a probability density function. We prove that law of demand()0xExpis valid for one(x) or two choice variables (x, y)*. The law of...

In this paper we use some(even a convex) probabilistic frequency functions in two choice variables defined over the budget set” box” and calculate the expected demand to study its properties The expected demands have own price negativity , are normal goods and are homogeneous of degree...

In this paper we assume that choice of commodities at the individual (household) level is made in the budget set and that the choice can be described by a probability density function. We prove that negativity (()0xExp<) is valid for one(x) or two choice variables (x, y) (No Giffen good).Negativity at the market level is valid by summation. The expected demand functions are homogeneous of degree zero in prices and income. We use general positive continuous functions f(x), f(x, y) defined on the bounded budget set. We transform them into probability density functions to calculate E(x) and prove negativity. The present approach use simple assumptions and is descriptive in its nature. Any choice behaviour that can be described by a continuous density function gives the above results. (,,)xyppm Why not keep descriptions as simple as possible?<p>

Many economic models and optimization problems generate (endogenous) shadow prices - alias dual variables or Lagrange multipliers. Frequently the “slopes” of resulting price curves - that is, multiplier derivatives - are of great interest. These objects relate to the Jacobian of the...

This paper examines the practical usefulness of two new journal performance metrics, namely the Eigenfactor score, which may be interpreted as measuring “Journal Influence”, and the Article Influence score, using the Thomson Reuters ISI Web of Science (hereafter ISI) data for 2009 for the...

This paper revisits old questions of the proper subject and bounds of economics: Does economics study “provisioning”? or markets? or a method of reasoning, self-interested rational optimization? A variety of scholars and others in many fields make use of a taxonomy of society consisting of...

This paper examines the practical usefulness of two new journal performance metrics, namely the Eigenfactor score, which is said to measure “importance”, and Article Influence score, which is said to measure “prestige”, using the most recent ISI data for 2009 for the 200 most highly...

Nationalekonomiska metoder och modeller tillämpas inom de mest skiftande områden som kriminalitet, barnuppfostran och drogmissbruk. Ett skäl till ämnets framgång är dess användning av matematik. Nationalekonomins formalisering synes dock även ha inneburit insnävade beteendeantaganden...