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In the present paper an analysis of the neo-classical optimization model with linear constraints is proposed. By introducing the dual problem it is shown that the solution to the maximization problem is also a solution to the minimization problem. The purely theoretical model proposes a...
Persistent link: https://www.econbiz.de/10009958055
We present the generalized hybrid averaging (GHA) operator. It is a new aggregation operator that generalizes the hybrid averaging (HA) operator by using the generalized mean. Thus, we are able to generalize a wide range of mean operators such as the HA, the hybrid geometric averaging (HGA), the...
Persistent link: https://www.econbiz.de/10009957374
uncertainty. We have performed this on a recent model of the theory, for which the respective optimal levels chosen by the firm … with and without uncertainty are compared in a more direct way than that used originally by its authors. We also make use … studied before. -- uncertainty modelling ; firm under uncertainty ; uncertainty in several variables …
Persistent link: https://www.econbiz.de/10009957387
; fertility ; first birth ; economic uncertainty ; East and West Germany …
Persistent link: https://www.econbiz.de/10010079368
professional traders participates in an experiment, whose data are used to calculate risk and uncertainty premiums. This framework …. Finally, risk-averse or risk-seeking behavior is more intense under conditions of uncertainty than it is under conditions of …
Persistent link: https://www.econbiz.de/10010079556
This paper investigates whether immigrants adapt to the attitudes of the majority population in the host country by focusing on the effect of ethnic persistence and assimilation on individual risk proclivity. Employing information from a unique representative German survey, we find that...
Persistent link: https://www.econbiz.de/10010082257
This study examined the relationship between share prices and dividends, earnings and book values for companies listed on the Nairobi Securities Exchange (NSE) in Kenya for the six years period between 2005 and 2010. Using panel data analysis the study found evidence that there is a positive and...
Persistent link: https://www.econbiz.de/10010097680
Article refers to the issue of credit risk management in commercial banks. Particular attention is paid to the problem of stress testing. In addition, methods are presented that allow prediction of the losses of the portfolio in the context of extreme events relating to the crises of financial...
Persistent link: https://www.econbiz.de/10010118427
The present economic and financial crisis has underlined the importance to financial institutions and investors of having access to efficient methods of quantifying credit risk, or the probability of default. The logit models are among the techniques commonly used by large organizations and...
Persistent link: https://www.econbiz.de/10010118428
We model an urban labour market in a developing economy, incorporating workers’ risk attitudes. Trade-offs between risk aversion and ability determine worker allocation across formal and informal wage employment, and voluntary and involuntary self employment. Greater risk of informal wage...
Persistent link: https://www.econbiz.de/10010118864