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A Robust Prediction Error Criterion for Pareto Modeling of Upper Tails

Dupuis, Debbie - 2011

Estimation of the Pareto tail index from extreme order statistics is an important problem in many settings. The upper tail of the distribution, where data are sparse, is typically fitted with a model, such as the Pareto model, from which quantities such as probabilities associated with extreme...

Persistent link: https://www.econbiz.de/10013130229

Informationally Robust Welfare Predictions Under Second-Degree Price Discrimination

Yang, Kai Hao - 2019

In an environment that features second-degree price discrimination, this paper fully characterizes the set of surplus divisions that can arise from all possible information consumers have about their valuation. By extending the techniques developed in a companion paper (Yang, 2019a), I show that...

Persistent link: https://www.econbiz.de/10012894284

Predictive power in behavioral welfare economics

Bouacida, Elias; Martin, Daniel - 2020

Persistent link: https://www.econbiz.de/10012221868

Normative inference in efficient markets

Weretka, Marek - In: Economic theory : official journal of the Society for … 68 (2019) 4, pp. 787-810

Persistent link: https://www.econbiz.de/10012213126

Justifying Antitrust : Prediction, Efficiency, and Welfare

Tor, Avishalom - 2016

in both allocation and production. The third, least noted but most troubling of all, is the welfare challenge. Behavioral …' authentic, preexisting preferences — and thus do not maximize individual and aggregate welfare — is there an economic … standard economic justification for antitrust law largely weathers the thorny efficiency and welfare challenges alike …

Persistent link: https://www.econbiz.de/10012999218

The fundamental properties, stability and predictive power of distributional preferences

Fehr, Ernst; Epper, Thomas; Senn, Julien - 2023

Parsimony is a desirable feature of economic models but almost all human behaviors are characterized by vast individual variation that appears to defy parsimony. How much parsimony do we need to give up to capture the fundamental aspects of a population's distributional preferences and to...

Persistent link: https://www.econbiz.de/10014419243