for micro simulation such as the choice of estimation criteria, calibration to benchmarks and model validation. Some of …Micro simulation involves modeling the behavior of individuals and other decision units taking into account the effects … entire distribution of target variables. Micro simulation models have thus, for instance, been used to analyze how changes in …

for micro simulation such as the choice of estimation criteria, calibration to benchmarks and model validation. Some of …Micro simulation involves modeling the behavior of individuals and other decision units taking into account the effects … entire distribution of target variables. Micro simulation models have thus, for instance, been used to analyze how changes in …

the constraint that assets be fully and continuously invested is inconsistent with basic decision theory, as it disallows … in finance. We herein explore implications for the traditional ‘52'59 Markowitz approach to portfolio theory when the … incomplete Markowitz model. Relative to “Asset Price Trend Theory: Reframing portfolio theory from the ground up” (Dubois [2013 …

The reduction theory of David F. Hendry provides a comprehensive probabilistic framework for the analysis and … same underlying probability space of the first reduction -and hence the subsequent reductions- given a commonplace theory … outcome space in Hendry's theory are interpreted as indeterministic worlds made up of historically inherited particulars …