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Reconsidering the common ratio effect : the roles of compound independence, reduction, and coalescing

Schmidt, Ulrich; Seidl, Christian - 2014

Common ratio effects should be ruled out if subjects' preferences satisfy compound independence, reduction of compound … lotteries, and coalescing. In other words, at least one of these axioms should be violated in order to generate a common ratio … observation of common ratio effects.We observe that compound independence and reduction of compound lotteries hold, whereas …

Persistent link: https://www.econbiz.de/10010367224

Reconsidering the common ratio effect : the roles of compound independence, reduction, and coalescing

Schmidt, Ulrich; Seidl, Christian - In: Theory and decision : an international journal for … 77 (2014) 3, pp. 323-339

Persistent link: https://www.econbiz.de/10010481151

Evaluation of Econometric Models of Adaptive Learning by Predictive Measures

Chernov, Gregory - 2020

Game-theoretic models of learning are hard to study even in the laboratory setting due to econometric and practical concerns (like the limited length of an experimental session).In particular, as the simulations by (Salmon, 2001) show, in a cross-model (or "blind'') testing of several models,...

Persistent link: https://www.econbiz.de/10012827651

The sequencing problem in sequential investigation processes

Kretschmer, Jürgen-Peter - 2011

Many decision problems in various fields of application can be characterized as diagnostic problems trying to assess the true state (of the world) of given cases. The investigation of assessment criteria improves the initial information according to observed signal outcomes, which are related to...

Persistent link: https://www.econbiz.de/10010286426

Forecast Evaluation in Call Centers : Combined Forecasts, Flexible Loss Functions and Economic Criteria

Bastianin, Andrea; Galeotti, Marzio; Manera, Matteo - 2017

Accurate forecasts of incoming calls are crucial to optimal staffing decisions in call centers. This paper evaluates a wide range of models and forecast combination techniques by means of statistical and economic criteria. Relative to the previous literature, this paper is novel in several...

Persistent link: https://www.econbiz.de/10014043503

War for Welfare

Subramaniam, Viswanatha Sankara Rama - 2007

What is the origin of Strategic Management leading towards national Welfare planning, development and optimisation all over the World? This question opens a "Pandora's Box". It is significant that it is a key question to open up the knowledge of a world of ignorance, with some believing that...

Persistent link: https://www.econbiz.de/10014049215

Bayesian Estimation of a Decision Using Information Theory

Mostaghimi, Mehdi - 2007

The problem of modeling the revision of the information of a decision maker based on the information of the expert sources is considered. The basic model assumes that the information of the decision maker and expert sources is in the form of the probability mass functions. The modeling approach...

Persistent link: https://www.econbiz.de/10014049926

Generalized Arrow-Pratt Theory

Shah, Sudhir A. - 2020

Given a utility defined on a Hilbert outcome space, we define at each outcome a generalized Arrow-Pratt (GAP) coefficient belonging to the Hilbert space. Comparing the risk aversion of such utilities using their GAP coefficients is equivalent to doing so in terms of other standard,...

Persistent link: https://www.econbiz.de/10014114521

When “Less Is More” : How Statistical Discrimination Can Decrease Predictive Accuracy

Csaszar, Felipe A.; Jue-Rajasingh, Diana; Jensen, Michael - 2022

Discrimination is a pervasive aspect of modern society and human relations. Statistical discrimination theory suggests that profit-maximizing employers should use all the information about job candidates, including information about group membership (e.g., race or gender), to make accurate...

Persistent link: https://www.econbiz.de/10014079853

Should Candidates Flip a Coin If the Difference in Their Votes is Small?

Rasmusen, Eric - 2005

A coin flip can be a good way to settle an election if the margin of victory is small and it is known that there is a good chance of fraud by one candidate. In that case, however, an even better rule is to award victory to the apparent loser

Persistent link: https://www.econbiz.de/10014135185