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Adapting long-lived investments under climate change uncertainty

Eisenack, Klaus; Paschen, Marius - In: Journal of Environmental Economics and Management 116 (2022)

climate changes faster, and increases if uncertainty is higher. For long-lived investments, these effects reverse. This has …

Persistent link: https://www.econbiz.de/10013475329

Positivistic models of long-run labor allocation dynamics

Stijepic, Denis - In: Journal of Economic Structures 6 (2017) 19, pp. 1-30

The three-sector framework (relating to agriculture, manufacturing, and services) is one of the major concepts for studying the long-run dynamics of the economic structure. We summarize the empirical/theoretical literature consensus by formulating 'economic laws' of long-run structural change in...

Persistent link: https://www.econbiz.de/10011991414

Reverse engineering of option pricing: An AI application

Herzog, Bodo; Osamah, Sufyan - In: International Journal of Financial Studies 7 (2019) 4, pp. 1-12

This paper studies option pricing based on a reverse engineering (RE) approach. We utilize artificial intelligence in order to numerically compute the prices of options. The data consist of more than 5000 call- and put-options from the German stock market. First, we find that option pricing...

Persistent link: https://www.econbiz.de/10013200246

Strong convergence and dynamic economic models

Bray, Robert L. - In: Quantitative Economics 10 (2019) 1, pp. 43-65

Morton and Wecker (1977) stated that the value iteration algorithm solves a dynamic program's policy function faster than its value function when the limiting Markov chain is ergodic. I show that their proof is incomplete, and provide a new proof of this classic result. I use this result to...

Persistent link: https://www.econbiz.de/10012215366

Slow persuasion

Escudé, Matteo; Sinander, Ludvig - In: Theoretical Economics 18 (2023) 1, pp. 129-162

What are the value and form of optimal persuasion when information can be generated only slowly? We study this question in a dynamic model in which a `sender' provides public information over time subject to a graduality constraint, and a decision-maker takes an action in each period. Using a...

Persistent link: https://www.econbiz.de/10014536988

Metodología para elaborar leyes de posibilidad de retirada del cliente: Una aplicación al sector del vestido

Ortigosa Hernández, Mauricio; Gil Lafuente, Anna María - In: Revista de Métodos Cuantitativos para la Economía y … 22 (2016), pp. 139-163

uncertainty and the fuzzy subsets, in order to build laws of possibilities for the retreat of clients only with the subjective … even from heuristic methods. The results show the utility of fuzzy concepts in a problem where the uncertainty in relation … Value (CLV) is required to be measured in the field of uncertainty. …

Persistent link: https://www.econbiz.de/10011787595

A tale of two debt crises: a stochastic optimal control analysis

Stein, Jerome L. - In: Economics: The Open-Access, Open-Assessment E-Journal 4 (2010) 2010-3, pp. 1-24

Creditors, banks and bank regulators should evaluate whether a borrower is likely to default. I apply several techniques in the extensive mathematical literature of stochastic optimal control/dynamic programming to derive an optimal debt in an environment where there are risks on both the asset...

Persistent link: https://www.econbiz.de/10010299829

The Italian pension gap: A stochastic optimal control approach

Milazzo, Alessandro; Vigna, Elena - In: Risks 6 (2018) 2, pp. 1-20

We study the gap between the state pension provided by the Italian pension system pre-Dini reform and post-Dini reform. The goal is to fill the gap between the old and the new pension by joining a defined contribution pension scheme and adopting an optimal investment strategy that is...

Persistent link: https://www.econbiz.de/10011996606

Bayesian comparative statics

Mekonnen, Teddy; Leal Vizcaíno, René - In: Theoretical Economics 17 (2022) 1, pp. 219-251

We study how changes to the informativeness of signals in Bayesian games and single-agent decision problems affect the distribution of equilibrium actions. Focusing on supermodular environments, we provide conditions under which a more precise private signal for one agent leads to an...

Persistent link: https://www.econbiz.de/10013189084

Outranking methods: PROMETHEE I and PROMETHEE II

Goswami, Shankha Shubhra - In: Foundations of Management 12 (2020) 1, pp. 93-110

This article highlights the application of the Preference Ranking Organization Method for Enrichment of Evaluations (PROMETHEE) I and II in selecting the best laptop model among six different available models in the market. Seven important criteria, that is, processor, hard disk capacity,...

Persistent link: https://www.econbiz.de/10012601097

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