This paper demonstrates that well-established biases in decision making under uncertainty can generate poverty traps. A theoretical framework is developed to demonstrate that: i) probability weighting and ambiguity attitude can lead individuals to erroneously undervalue profitable investments,...

Verlagstext: Die zweibändigen Grundlagen der Statistik vermitteln Ihnen das statistische Grundwissen, welches Sie zum Bestehen Ihrer Prüfungen und für die anschliessende Anwendung im Beruf benötigen. Der Autor stellt dabei immer wieder den Bezug des theoretischen Lehrstoffs zu konkreten...

Abstract: The probability of default (PD) is the essential credit risks in the finance world. It provides an estimate of the likelihood that a borrower will be unable to meet its debt obligations. Purpose: This paper computes the probability of default (PD) of utilizing market-based data which...

The distance to default (DD) and the probability of default (PD) are the essential credit risks in the finance world. It provides an estimate of the likelihood that a borrower will be unable to meet its debt obligations. It is crucial to know which parameter effects more on DD and PD so that...

The binary states, i.e., success or failed state assumptions used in conventional reliability are inappropriate for reliability analysis of complex industrial systems due to lack of sufficient probabilistic information. For large complex systems, the uncertainty of each individual parameter...