We define coherent-ambiguity aversion within the Klibanoff, Marinacci and Mukerji (2005) smooth ambiguity model (henceforth KMM) as the combination of choice-ambiguity aversion and value-ambiguity aversion. We analyze theoretically five ambiguous decision tasks, where a subject faces two-stage...

This paper considers a "single bottleneck system": a multistage production system where all setups except one are zero. The stage with nonzero setup is defined to be the bottleneck; it may be thought of as the critical resource whose throughput largely determines the throughput of the entire...

The theme of this paper is improved planning of binomial sequential probability ratio tests in the context of comparison of two objects as to their time between failures or to failure, assumed to be exponentially distributed. The authors' earlier works established that the probabilities of I-...

Coherent-ambiguity aversion is defined within the (Klibanoff et al., Econometrica 73:1849–1892, <CitationRef CitationID="CR40">2005</CitationRef>) smooth-ambiguity model (henceforth KMM) as the combination of choice-ambiguity and value-ambiguity aversion. Five ambiguous decision tasks are analyzed theoretically, where an individual faces...</citationref>

We define coherent-ambiguity aversion within the Klibano¤, Marinacci and Mukerji (2005) smooth ambiguity model (henceforth KMM) as the combination of choice-ambiguity aversion and value-ambiguity aversion. We analyze theoretically ?ve ambiguous decision tasks, where a subject faces two-stage...

In this paper, we propose a Vasicek-type of models for estimating portfolio level probability of default (PD). With these Vasicek models, asset correlation and long-run PD for a risk homogenous portfolio both have analytical solutions, longer external time series for market and macroeconomic...

We first show that any 1−α bootstrap percentile confidence interval for a proportion based on a binomial random variable has an infimum coverage probability zero for any sample size. This result is then extended to intervals for the difference, the relative risk and the odds ratio of two...

A new continuous distribution is introduced by compounding exponentiated exponential and binomial distributions, named as exponentiated exponential binomial (EEB) distribution. This distribution has the ability to model lifetime data with increasing, decreasing and upside-down bathtub shaped...

An estimator is said to be of orders0 if its bias has magnitude n−s, where n is the sample size. We give delta estimators and jackknife estimators of order four for smooth functions of the parameters of a multinomial distribution. An unbiased estimator is given for its density function. We...