Many Bayesian Confirmation Measures have been proposed so far. They are used to assess the degree to which an evidence (or premise) E supports or contradicts an hypothesis (or conclusion) H, making use of prior probability P(H), posterior probability P(H|E) and of probability of evidence P(E)....

This paper attempts to provide a decision-theoretic foundation for the measurement of economic tail risk, which is not only closely related to utility theory but also relevant to statistical model uncertainty. The main result is that the only risk measures that satisfy a set of economic axioms...

The inequality dataset compiled in the 1990s by the World Bank and extendedby the UN has been both widely used and strongly criticized. The criticisms raisequestions about conclusions drawn from secondary inequality datasets in general. Wedevelop techniques to deal with national and...

This paper reviews various approaches to measuring business innovation from the angle of capturing social innovations and offers several methodological and policy conclusions. First, the Innovation Union Scoreboard (IUS) indicators in principle could be useful in settings where the dominant mode...

So far, there has been no data set which observes firm formations in Germany not only on a cross-sectional basis using one-time surveys, but continuously over a number of years. Therefore, the Centre for European Economic Research (ZEW), KfW Bankengruppe and Creditreform set up a panel study of...

A new book on measuring global poverty by the late Tony Atkinson was published in 2019 by Princeton University Press. We describe how we edited the incomplete manuscript that Atkinson left at his death, the additions we made (which include afterwords by François Bourguignon and Nick Stern), and...

The World Bank's approach to estimating the extent, distribution and trend of global income poverty is neither meaningful nor reliable. The Bank uses an arbitrary international poverty line that is not adequately anchored in any specification of the real requirements of human beings. Moreover,...

It turns out that price index functions share a basic interpretation; practically all of them measure a change in some average of quality-adjusted prices. The different options are distinguished by their choice of average, their definition of quality, and their stance on what I label ‘equal...

This paper explains the strategy that the Bank of Italy has developed for estimating the net worth of nonfinancial quasi-corporations, in order to fill the gap in the national FA. This strategy is mainly based on survey data from the Bank of Italy Survey on Household Income and Wealth (SHIW),...

Despite substantial advances over the past decades, measuring innovation and innovativeness remains a challenge for both academic researchers and management practitioners. To address several key concerns with current indicators – such as their specialization and consequent one-sidedness, their...