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Entscheidung als notwendige Fiktion: Über eine fundamentale ökonomische Narration

Priddat, Birger P. - 2015

Fiktion notwendig ist, aber eine Fiktion bleibt. Aber was heisst es für die (ökonomische) Theorie der Zukunftsentscheidungen …

Persistent link: https://www.econbiz.de/10011381300

Agonism, decision, power: The art of working unfinished

Pløger, John - In: Raumforschung und Raumordnung / Spatial Research and … 81 (2023) 5, pp. 449-460

with a finite decision. This paper suggests that this agonistic approach needs de-cisions or simply put, temporary … decisions drawn from seeing a decision as a solution for now. A de-cision is not a no-decision, but a decision recognised as … planning process from being a matter of reaching a finite decision to a strife about how to understand the present and which …

Persistent link: https://www.econbiz.de/10014442545

Probabilistic Choice as a Result of Mistakes

Mattsson, Lars-Göran; Weibull, Jörgen W. - 2000

which the decision maker has to make some effort in order to avoid mistakes when implementing any desired outcome. The … disutility of this effort enters the decision maker's goal function in an additively separable way. A particular disutility … for quantal response models in game theory. …

Persistent link: https://www.econbiz.de/10010335088

Convergence properties of the likelihood of computed dynamic models

Fernández-Villaverde, Jesús; Rubio-Ramírez, Juan … - 2004

This paper studies the econometrics of computed dynamic models. Since these models generally lack a closed-form solution, economists approximate the policy functions of the agents in the model with numerical methods. But this implies that, instead of the exact likelihood function, the researcher...

Persistent link: https://www.econbiz.de/10010397660

Entscheidung als zeitliche Setzung: Über Narration, Fiktion, Erwartung und Zeitlichkeit in der Ökonomie

Priddat, Birger P. - 2014

Was in Märkten sich künftig ereignen wird, kann man nicht wissen, nur erwarten. Was man erwartet, wird in der Ökonomik probabilistisch eingearbeitet: als Risikoentscheidungen. Elena Esposito zufolge besteht unter Ökonomen aber ein fundamentales Missverständnis bezüglich der...

Persistent link: https://www.econbiz.de/10010464432

Approximation by Penultimate Extreme Value Distributions

de Haan, Laurens F.M. - 1998

In certain cases the distribution of the normalized maximumof a sample can be better approximated by a sequence ofdifferent extreme value distributions than by the final one. Weshow that these cases are rather restricted and that the possibleimprovement is not spectacular.

Persistent link: https://www.econbiz.de/10010324507

Beyond the Sample: Extreme Quantile and Probability Estimation

Daníelsson, Jón; de Vries, Casper G. - 1998

Economic problems such as large claims analysis in insurance and value-at-risk in finance, requireassessment of the probability P of extreme realizations Q. This paper provided a semi-parametricmethod for estimation of extreme (P, Q) combinations for data with heavy tails. We solve the...

Persistent link: https://www.econbiz.de/10010324517

Approximation by Penultimate Stable Laws

de Haan, Laurens F.M.; Peng, Liang; Pereira, H. Iglesias - 1997

In certain cases partial sums of i.i.d. random variables with finite variance are better approximated by asequence of stable distributions with indices alpha n - 2 than by a normal distribution. We discusswhen this happens and how much the convergence rate can be improved by using penultimate...

Persistent link: https://www.econbiz.de/10010324520

How to make a Hill Plot

Drees, Holger; de Haan, Laurens F.M.; Resnick, Sidney - 1998

An abundance of high quality data sets requiring heavy tailed models necessitates reliablemethods of estimating the shape parameter governing the degree of tail heaviness.The Hill estimator is a popular method for doing this but its practical use isencumbered by several difficulties. We show...

Persistent link: https://www.econbiz.de/10010324548

On Markov Chains and Filtrations

Spreij, Peter - 1997

In this paper we rederive some well known results for continuous time Markov processes that live on a finite state space.Martingale techniques are used throughout the paper. Special attention is paid to the construction of a continuous timeMarkov process, when we start from a discrete time...

Persistent link: https://www.econbiz.de/10010324585