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a difference to the rigorous normative evaluation of decisions in a case study of insurance purchases. We also show that …
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This paper develops some new stochastic dominance (SD) rules for ranking transformations on a random variable, which is the first time to study ranking approach for transformations on the discrete framework. By using the expected utility theory, the authors first present a sufficient condition...
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contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The … Italian households do not have access to significant insurance beyond self-insurance. …
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