), epistemological suggestions from the crucial work of Nicholas Georgescu-Roegen, “The Entropy Law and the Economic Process”, in order … possibility of a theoretical economic science (i.e. of a theory of the economic science); c) impact of the qualitative changes of … the economic process on the non-linearity of the economic models for prognosis; d) logics, based on the entropy law, to …

This Paper examines optimal incentives and performance measurement in a setting where an agent has specific knowledge … choice of performance measures and incentives depends on the agent’s knowledge, environmental risk, technological uncertainty …, and job complexity. The theory leads to several novel predictions, as well as new explanations for existing empirical …

potential increased vulnerability in economic systems. To do so we draw on concepts from information theory, robust system … potentielle accrue au sein des systèmes économiques. Pour ce faire, nous nous appuyons sur les concepts issus de la théorie de l …

d'optimisation défini sur l'ensemble des distributions de probabilités sous contraintes d'entropie. Cette article offre …

The measurement of inequality is often made using observed population-based distributions, such as the distribution of … declines. The results are insensitive to whether inequality is measured by entropy, the Gini Index, or the Index of …

The objective of this article is to propose the use of moment functions and maximum entropy techniques as a flexible … moments under a variety of climate and irrigation regimes, we utilize maximum entropy techniques to analyze the distributional …. We empirically illustrate several advantages of our moment based maximum entropy approach, including flexibility of the …

In actuarial theory, the Lp-metric is used to evaluate how well a probability distribution approximates another one. In …

alternative always has the possibility to be inferior to other competing alternatives. To facilitate risk-based decision making …, the minimax expected opportunity loss (EOL) rule is applied for alternative selection. Two existing risk measures as well … as EOL are compared and their implications in risk-based decision making are examined. It is shown that EOL can reflect …

Risk, in a financial sense, is defined as variance about some forecasted value. Any time a business appraiser forecasts … developing an actual risk measure (standard deviation) that may be used with discounted cash flow valuation models. …