Define the riskiness of a gamble as the reciprocal of the absolute risk aversion (ARA) of an individual with constant ARA who is indifferent between taking and not taking that gamble. We characterize this index by axioms, chief among them a “duality” axiom which, roughly speaking, asserts...

The concept of scapegoating is frequently used to explain how opportunistic elites attempt to deflect blame onto vulnerable ethnic minorities, particularly during times of social turmoil. However, the notion of scapegoating is undertheorized in the conflict literature and the question of why...

In this paper we present a reformulation of a lemma due to Lippman and McCall - initially formulated a unique random variable - to be applied to the case of several random variables, and we illustrate its use in the theory of the firm under uncertainty. We have performed this on a recent model...

Consider any investor who fears ruin facing any set of investments that satisfy no-arbitrage. Before investing, he can purchase information about the state of nature in the form of an information structure. Given his prior, information structure 'a' is more informative than information structure...

The paper introduces a notion of complementarity (substitutability) of two signals which requires that in all decision problems each signal becomes more (less) valuable when the other signal becomes available. We provide a general characterization which relates complementarity and...

By means of some simple examples from economics, we elucidatecertain solution tools for the solution of optimal control problems were the system under study undergoes major changes when certain boundaries are crossed. The major changes may be that the state gets a jump discontinuity when...

Security prices contain valuable information that can be used to make a wide variety of economic decisions. To extract this information, a model is required that relates market prices to the desired information, and that ideally can be implemented using timely and low-cost methods. The authors...

Seit ihrer Erkenntnis und Formulierung im Rahmen der Ausarbeitung derThermodynamik zeigte sich, dass der Geltungsbereich der sog. Hauptsätzeweit über die Grenzen der Thermodynamik im engeren Sinne herausreicht –sie sind offenbar das Fundament aller materiellen Prozesse. Unverständlichbleibt...

Social network analysis and mining intend to explore for certain, previously unknown, and probably useful relational information from social and information networks. In our case, the research paper is about identifying collaborative networks between the authors (co-authors) of Computer Science...

The preference disaggregation approach to the problem of multicriteria choice is to uncover the inherent model of choice that brings a decision unit to a conclusion in terms of an overall preference on the alternatives. In the context, the actual market shares of a class of competing products...