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's empirical findings under risk. Furthermore, no significant differences are detected across contexts as regards utility and loss …This paper reports on the results of an experimental elicitation at the individual level of all prospect theory … components (i.e., utility, loss aversion, and weighting functions) in two decision contexts: situations where alternatives are …
Persistent link: https://www.econbiz.de/10010990473
In economics, the prevailing framework to explain preferences under uncerta- inty is the Expected Utility theory …. Despite its widespread use, the Expected Utility theory is not free from problems. Experimental and empirical works shows that …, in real life, the choices of individuals among risky alternatives conflict with the axioms of the Expected Utility theory …
Persistent link: https://www.econbiz.de/10005064735
This paper presents sufficient conditions for the existence of a unique and globally stable steady state equilibrium … for OLG economies with production. The conditions impose separate requirements on the utility and production functions …. Moreover, the conditions do not require assumptions concerning the third order derivatives of the production and utility …
Persistent link: https://www.econbiz.de/10005753417
) in own links from the literature are put into the context of diminishing marginal utility of own links. Second, it is … shown that there always exists a pairwise stable network as long as the utility function of each player satisfies convexity … in own links and strategic complements. For network societies with a profile of utility functions satisfying concavity in …
Persistent link: https://www.econbiz.de/10008509509
In this paper we have analyzed existence, uniqueness and stability of a steady-state equilibrium in an overlapping …
Persistent link: https://www.econbiz.de/10004985078
examples of duopolies with these features. However, we also find some sufficient conditions for existence, and for uniqueness …
Persistent link: https://www.econbiz.de/10004992503
We provide sufficient conditions for existence and uniqueness of a Cournot equilibrium. The contraction mapping … conditions suffisantes pour l'existence et l'unicité de l'équilibre de Cournot. Notre résultat s'applique aux jeux de Cournot à …
Persistent link: https://www.econbiz.de/10005100660
In this paper we show how discrete and continuous variables can be combined using parametric conditional families of distributions and how the likelihood weighting method can be used for propagating uncertainty through the network in an efficient manner. To illustrate the method we use, as an...
Persistent link: https://www.econbiz.de/10005199794
Persistent link: https://www.econbiz.de/10009325272
, normality of demand for the club good in full income, for the existence and uniqueness of a Nash equilbrium by the Cornes … assumptions on the utility function, this occurs for all positive degrees of homogeneity. …
Persistent link: https://www.econbiz.de/10010548252