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This essay is an introduction to the recent literature on the "consistency principle" and its "converse". An allocation rule is consistent if for any problem in its domain of definition and any alternative that it selects for it, then for the associated "reduced problem" obtained by imagining...
Persistent link: https://www.econbiz.de/10005698174
No abstract.
Persistent link: https://www.econbiz.de/10010684486
This book provides a rigorous course to the theory of intermediate microeconomics. It includes not only the basic … traditional theory, but also a ¡°From the Literature¡± box in each chapter directing students to applications of the theory. The … theory is developed axiomatically, with optional sections using one-variable calculus included for interested readers. A …
Persistent link: https://www.econbiz.de/10011156361
Lifestyle data are rarely used in multivariate economic and social studies because the data describe the probability of having a categorical attribute. We propose a novel conversion of lifestyle data into metric scale values. Examining the 2001 referendum on the Allianz-Arena in Munich, our...
Persistent link: https://www.econbiz.de/10010990968
We propose and study a stylization of high frequency trading (HFT). Our interest is an order book which consists of orders from slow liquidity traders and orders from high-frequency traders. We would like to frame a model which is amenable to the (seemingly natural) mathematical toolkit of...
Persistent link: https://www.econbiz.de/10010991429
This paper provides a “non-extensive” information theoretic perspective on the relationship between risk and incomplete states uncertainty. Theoretically and empirically, we demonstrate that a substitution effect between the latter two may take place. Theoretically, the “non-extensive”...
Persistent link: https://www.econbiz.de/10010991433
Foundation of economic decisions on the manufacture and sales of products in the construction materials industry is influenced by many factors. Among these may be included also: pollution control, national priorities, moral factors, policies and even weather conditions. Each of these factors can...
Persistent link: https://www.econbiz.de/10010859977
This paper discusses the ways by which a certain type of behavioral deviation from expected utility theory has been … handled by psychologists and economists. With respect to the historical background of decision theory in economics, it is …
Persistent link: https://www.econbiz.de/10010860430
Persistent link: https://www.econbiz.de/10010861370
Using a unique dataset on health club attendance from Quebec, we look at the relationship between actual and expected attendance and how these relate to a reported measure of self-control problems at the time of contract signing. We find that a large majority of contract choices appear...
Persistent link: https://www.econbiz.de/10010877917