This paper studies the dependence between coupled lives, i.e., the spouses' dependence, across different generations, and its effects on prices of reversionary annuities in the presence of longevity risk. Longevity risk is represented via a stochastic mortality intensity. We find that a...

The present work discusses possible methodological approaches for the assessment of employment effects of rural development measures. A special focus is on measures of the so called integrated rural development. Methods that are considered non-appropriate are considered nevertheless. Therefore,...

While modern portfolio theory grounds on the trade-off between portfolio return and portfolio variance to determine the optimal investment decision, postmodern portfolio theory uses downside risk measures instead of the variance. Prominent examples are given by the risk measures Value-at-Risk...

We propose a new method for estimating the power-law exponent of a firm size variable, such as annual sales. Our focus is on how to empirically identify a range in which a firm size variable follows a power-law distribution. As is well known, a firm size variable follows a power-law distribution...

The authors propose a new method for estimating the power-law exponents of firm size variables. Their focus is on how to empirically identify a range in which a firm size variable follows a power-law distribution. On the one hand, as is well known a firm size variable follows a power-law...

Well-being (i.e., satisfaction, happiness) is a latent variable, impossible to observe directly. Hence, questionnaires ask people to grade their well-being in different life domains. The most common practice-comparing well-being by means of descriptive analysis or linear regressions-ignores that...

Virtually all rankings of journals are based on citations, including self citations by journals and individual academics. The gold standard for bibliometric rankings based on citations data is the widely-used Thomson Reuters Web of Science (2014) citations database, which publishes, among...

This article poses a new methodology applying the statistical analysis to the economic literature. This analysis has never been used in the history of economic thought, albeit it may open up new possibilities and provide us with further explanations so as to reconsider theoretical issues. With...

The way the fields are delineated has been the Achilles' heel of studies analyzing the status and evolution of given scientific areas. Based on van den Besselaar and Leydesdorff's (Mapping change in scientific specialities; a scientometric reconstruction of the development of artificial...

Stochastic frontier models are widely used to measure, e.g., technical efficiencies of firms. The classical stochastic frontier model often suffers from the empirical artefact that the residuals of the production function may have a positive skewness, whereas a negative one is expected under the...