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Persistent link: https://www.econbiz.de/10010677910
Young’s theorem implies that every core concept violates monotonicity. In this paper, we investigate when such a … violation of monotonicity by a given core concept is justified. We introduce a new monotonicity property for core concepts. We …
Persistent link: https://www.econbiz.de/10010680550
Consider a nonseparable model Y=R(X,U) where Y and X are observed, while U is unobserved and conditionally independent of X. This paper provides the first nonparametric test of whether R takes the form of a transformation model, meaning that Y is monotonic in the sum of a function of X plus a...
Persistent link: https://www.econbiz.de/10010680870
Many social scientists believe that dumping long lists of explanatory variables into linear regression, probit, logit, and other statistical equations will successfully “control†for the effects of auxiliary factors. Encouraged by convenient software and ever more powerful computing,...
Persistent link: https://www.econbiz.de/10010770134
Several bargaining solutions could fail to capture advantage from having sets closer to the same utopia point. If the whole frontier of the set is improved maintaining the same utopia point, these solutions outcome remains stagnant at the same point. We called this phenomena the stagnation...
Persistent link: https://www.econbiz.de/10010772986
monotonicity holds. The conditions in our main result are both necessary and sufficient for global stability of monotone economies …
Persistent link: https://www.econbiz.de/10010773109
semigroup under a binary operation. Moreover, we obtain the equivalent conditions of the monotonicity and order-preservation of …
Persistent link: https://www.econbiz.de/10010593917
This note gives the conditions on preferences to guarantee the monotonicity of asset prices when the payoffs of the …
Persistent link: https://www.econbiz.de/10010603100
neutrality, anonymity, and monotonicity imply majority rule when the agenda is a two-element set. …
Persistent link: https://www.econbiz.de/10010603133
In this article, we study the price monotonicity in the parameters of the Heston model for a contract with a convex pay …
Persistent link: https://www.econbiz.de/10010661005