Showing 1 - 10 of 18
Persistent link: https://www.econbiz.de/10005453150
We consider optimal consumption and portfolio choice in the presence of Knightian uncertainty in continuous time. We embed the problem into the new framework of stochastic calculus for such settings, dealing in particular with the issue of non-equivalent multiple priors. We solve the problem...
Persistent link: https://www.econbiz.de/10011098615
We establish a class of fully nonlinear conditional expectations. Similarly to the usage of linear expectations when a probabilistic description of uncertainty is present, we observe analogue quantitative and qualitative properties. The type of nonlinearity captures the agents sentiments of...
Persistent link: https://www.econbiz.de/10011158363
We consider optimal consumption and portfolio choice in the presence of Knightian uncertainty in continuous-time. We embed the problem into the new framework of stochastic calculus for such settings, dealing in particular with the issue of non-equivalent multiple priors. We solve the problem...
Persistent link: https://www.econbiz.de/10010730445
In this paper, we deal with a class of one-dimensional backward doubly stochastic differential equations (BDSDEs) with non-Lipschitz coefficients. We obtain an existence theorem and a comparison theorem for solutions of the class of BDSDEs.
Persistent link: https://www.econbiz.de/10008474331
We study the dynamic indifference pricing with ambiguity preferences. For this, we introduce the dynamic expected utility with ambiguity via the nonlinear expectation--G-expectation, introduced by Peng (2007). We also study the risk aversion and certainty equivalent for the agents with...
Persistent link: https://www.econbiz.de/10011213828
The main purposes of the paper are to reconsider the rationale of the RAS method, and to attempt to improve on its interpretation and usefulness. The substitution and fabrication factors in the RAS method are interpreted as statistical estimates obtained by the method of instrumental variables....
Persistent link: https://www.econbiz.de/10005451850
The following sections are included:IntroductionOverview of the Development of the Singaporean Education SectorGlobal Schoolhouse: Education Sector as an Engine of Economic GrowthThe General Agreement on Trade in Services and International Trade in Higher Education...
Persistent link: https://www.econbiz.de/10011206649
This paper traces the development of the education sector from its nascent stage of serving economic development needs to the internationalization stage of fulfilling Singapore’s aspiration to be a global education hub. The state plays an important role in guiding and fostering development of...
Persistent link: https://www.econbiz.de/10010991087
Persistent link: https://www.econbiz.de/10006387367