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performances of the remaining items. When performances belong to a finite set, ranking by rating is characterized by separability …. Consistency follows from separability and symmetry or from monotonicity alone. When performances are vectors in R m + , a …
Persistent link: https://www.econbiz.de/10012010017
In this paper, the assumption of monotonicity of Anscombe and Aumann (1963) is replaced by a weaker assumption of monotonicity with respect to first order stochastic dominance. I derive a representation result where ambiguous distributions of objective beliefs are first aggregated into...
Persistent link: https://www.econbiz.de/10011753271
to assume separability from other food consumption. However, consumers typically associate attributes such as e … important for consumer behaviour then separability may not hold because the general attribute obtained from one type of organic …/non-organic indicator to estimate a general food demand system with organic variants. We clearly reject the usual separability assumption …
Persistent link: https://www.econbiz.de/10012100995
The population literature in theoretical economics has long focused on attempts to avoid the repugnant conclusion. We advance the literature by proving that no social ordering in population economics can escape the repugnant conclusion in all instances. As we show, prior results depend on a...
Persistent link: https://www.econbiz.de/10012141303
test for separability in the household model and analyse household factor market participation in Afghanistan. Estimates of … a household labour demand model and tests for separability reject the null hypothesis that household labour supply and …
Persistent link: https://www.econbiz.de/10012145138
Under regret theory, decision-makers derive utility both from the outcome of their chosen action and the counterfactual. Evidence for anticipatory regret aversion has been found in oneshot settings, with ”regret lotteries” that always reveal outcomes, as a counterfactual on non-entry, being...
Persistent link: https://www.econbiz.de/10011522439
Efficiency under contractual incompleteness often requires voluntary cooperation in situations where self-regarding incentives for contractual compliance are present as well. Here we provide a comprehensive experimental analysis based on the gift-exchange game of how explicit and implicit...
Persistent link: https://www.econbiz.de/10010278670
We reformulate neoclassical consumer choice by focusing on [lambda], the marginal utility of money. As the opportunity cost of current expenditure, [lambda] is approximated by the slope of the indirect utility function of the continuation. We argue that [lambda] can largely supplant the role of...
Persistent link: https://www.econbiz.de/10010288173
, subadditivity, irreversible investments and transaction costs, vertical integration as well as functional separability. On the basis …
Persistent link: https://www.econbiz.de/10014609041
– The paper argues that an airport can be viewed as a specialist property company. A key issue is the role of separability …
Persistent link: https://www.econbiz.de/10014898914