Using data from a Taiwanese finance company, this paper empirically investigates the value of soft information, information that requires the subjective interpretation by the loan officers who collect it and cannot be credibly transmitted to others, for making small business loans. It finds that...

Univariate almost stochastic dominance has been widely studied and applied since its introduction by Leshno and Levy (Manag Sci 48:1074–1085, <CitationRef CitationID="CR23">2002</CitationRef>). This paper extends this construction to the bivariate case by means of suitable two-attribute utility functions. After having confined...</citationref>

This paper discusses optimal insurance contract for irreplaceable commodities. To describe the dual impacts on individuals when a loss occurs to the insured irreplaceable commodities, we use a state-dependent and bivariate utility function, which includes both the monetary wealth and sentimental...

This study demonstrates a method of providing ex-ante estimates of the distributional welfare effects of yield-increasing technology. We apply this approach to estimate the impact of a 10% increase in cassava yields in Nigeria. Using data from the 2012-13 Nigeria General Household Survey, we...