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Robustness of simple menus of contracts in cost-based procurement

Garrett, Daniel F. - In: Games and Economic Behavior 87 (2014) C, pp. 631-641

We consider a model of cost-based procurement in which the principal faces Knightian uncertainty about the agent's preferences for cost reduction. We show that a particularly simple incentive scheme—a menu comprising a fixed-price contract and a cost-reimbursement contract—minimizes the...

Persistent link: https://www.econbiz.de/10011049864

Effective location models for sorting recyclables in public management

Toso, Eli Angela V.; Alem, Douglas - In: European Journal of Operational Research 234 (2014) 3, pp. 839-860

The recycling of urban solid wastes is a critical point for the “closing supply chains” of many products, mainly when their value cannot be completely recovered after use. In addition to environmental aspects, the process of recycling involves technical, economic, social and political...

Persistent link: https://www.econbiz.de/10011052730

Generalized beta-generated distributions

Alexander, Carol; Cordeiro, Gauss M.; Ortega, Edwin M.M.; … - In: Computational Statistics & Data Analysis 56 (2012) 6, pp. 1880-1897

This article introduces generalized beta-generated (GBG) distributions. Sub-models include all classical beta-generated, Kumaraswamy-generated and exponentiated distributions. They are maximum entropy distributions under three intuitive conditions, which show that the classical beta generator...

Persistent link: https://www.econbiz.de/10011056393

A Note on Minimax Testing and Confidence Intervals in Moment Inequality Models

Armstrong, Timothy B. - Cowles Foundation for Research in Economics, Yale University - 2014

general minimax relative efficiency comparisons. The main point is that such models involve inference on a low dimensional … parameter, which leads naturally to a definition of “distance” that, in full generality, would be arbitrary in minimax testing … conclusions regarding minimax relative efficiency than would otherwise be possible. …

Persistent link: https://www.econbiz.de/10011099829

Nonparametric estimation of multivariate scale mixtures of uniform densities

Pavlides, Marios G.; Wellner, Jon A. - In: Journal of Multivariate Analysis 107 (2012) C, pp. 71-89

provide an asymptotic minimax lower bound for estimating the functional f↦f(x) under reasonable differentiability assumptions …

Persistent link: https://www.econbiz.de/10011041983

Adolescents, Cognitive Ability, and Minimax Play

Shachat, Jason; Geng, Sen; Peng, Yujia; Zhong, Huizhen - Volkswirtschaftliche Fakultät, … - 2014

mixed strategy minimax solutions. Further, we collect subject information on cognitive abilities and participation rates in … competitive activities. We find the adolescents' correspondences with and deviations from minimax play largely consistent with … mixed minimax strategy as well as earnings are not correlated with cognitive ability nor previous experience in competitive …

Persistent link: https://www.econbiz.de/10011113298

Tote arbitrage and lock opportunities in racetrack betting

Edelman, David; O'Brian, Nigel - In: The European Journal of Finance 10 (2004) 5, pp. 370-378

A game-theoretic approach to the investigation of arbitrage opportunities based on combinations of exotic wagers for the same event is described. This situation is also known as a 'lock' or 'Dutch Book'. The technique is applied to recent totalizator data from Australian thoroughbred races. It...

Persistent link: https://www.econbiz.de/10005471902

Insurance Policies for Monetary Policy in the Euro Area

Küster, Keith; Wieland, Volker - Center for Financial Studies - 2005

that would rationalize the Minimax policy from a Bayesian perspective. These priors indicate that full insurance is …

Persistent link: https://www.econbiz.de/10005120783

EXPERIENTIA DOCET: PROFESSIONALS PLAY MINIMAX IN LABORATORY EXPERIMENTS

Palacios-Huerta, Ignacio; Volij, Oscar - Oscar Volij

We study how professional players and college students play zero-sum two-person strategic games in a laboratory setting. We first ask professionals to play a 2x2 game that is formally identical to a strategic interaction situation that they face in their natural environment. Consistent with...

Persistent link: https://www.econbiz.de/10005562441

A hybrid test for the isotonic change-point problem

Shen, Gang; D’Silva, Karl - In: Statistics & Probability Letters 99 (2015) C, pp. 36-43

This work studies minimaxity of the asymptotic risk of Brillinger’s test and proposes a hybrid test for the isotonic change-point problem. The new test turns out to have asymptotic power 1 under some local alternatives and outperforms the other major tests in detecting some weak isotonic...

Persistent link: https://www.econbiz.de/10011208310