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Finding common ground when experts disagree : belief dominance over portfolios of alternatives
Baker, Erin; Bosetti, Valentina; Salo, Ahti A. - 2016
We address the problem of choosing a portfolio of policies under "deep uncertainty." We introduce the idea of belief dominance as a way to derive a set of non-dominated portfolios and robust individual alternatives. Our approach departs from the tradition of providing a single recommended...
Persistent link: https://www.econbiz.de/10011504367
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Adapting Energy and Environmental Policy for Climate Change
Flatt, Victor Byers - 2012
The United States has long suffered from a schizophrenia about energy policy. The importance of one of the factors in energy policy, the environment, has never been formally defined. Climate change adds another distinct layer to this complexity, as neither energy policies nor environmental...
Persistent link: https://www.econbiz.de/10013098993
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Monetary Policy Deliberations : Committee Size and Voting Rules
Maurin, Vincent - 2012
How large should a monetary policy committee be? Which voting rule should a monetary policy committee adopt? This paper builds on Condorcet's jury threorem to analyse the relationships between committee size and voting rules in a model where policy discussions are subject to a time constraint....
Persistent link: https://www.econbiz.de/10013107003
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The Invisible Hand and the Rational Agent are Behind Bubbles and Crashes
Galam, Serge - 2016
The substantial turmoil created by both 2000 dot-com crash and 2008 subprime crisis has fueled the belief that the two classical paradigms of economics, which are the invisible hand and the rational agent, are not appropriate to describe market dynamics and should be abandoned at the benefit of...
Persistent link: https://www.econbiz.de/10013001360
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Finding Common Ground When Experts Disagree : Belief Dominance Over Portfolios of Alternatives
Baker, Erin - 2017
We address the problem of choosing a portfolio of policies under “deep uncertainty.” We introduce the idea of belief dominance as a way to derive a set of non-dominated portfolios and robust individual alternatives. Our approach departs from the tradition of providing a single recommended...
Persistent link: https://www.econbiz.de/10012968609
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Subordinated Debt in Bank Funding and Financial Market Stability
Wenger, Thomas - 2010
In the emerging consensus view on reforming bank capital requirements, the need for increased regulatory capital and some form of crisis insurance are beyond doubt, as has been established in Caballero (2009). The present paper contributes to the ongoing debate concerning the proper composition...
Persistent link: https://www.econbiz.de/10013145383
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Jon Elster und das Problem lokaler Gerechtigkeit
Pies, Ingo; Viebranz, Jörg - 2007
Untersuchung ist zweigeteilt. Der erste Teil rekonstruiert Elsters Beiträge zu einer Theorie lokaler Gerechtigkeit. Der zweite Teil … betreffen zum einen den Erklärungsgehalt seiner Analysen ((4)). Sie betreffen zum anderen den normativen Ertrag seiner Theorie … lokaler Gerechtigkeit für eine allgemeine Theorie sozialer Gerechtigkeit ((5)). Der Beitrag endet mit einer abschließenden …
Persistent link: https://www.econbiz.de/10011758000
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Saving Lives, Preserving the Environment, Growing the Economy : The Truth About Regulation
Shapiro, Sidney A. - 2016
This white paper starts from the recognition that the value of the regulatory system cannot be captured in a single number or metric, such as the concept of net benefits often touted by conservative economists. Instead, one must look at a more complex mosaic of evidence. When compiled and...
Persistent link: https://www.econbiz.de/10012995786
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Information Security Inside Organizations - A Positive Model and Some Normative Arguments Based on New Institutional Economics
Pallas, Frank - 2009
This work develops an abstract, theory-founded understanding of organization-internal infor­mation security. For this … information security inside organizations. The model provides abstract and theory-founded explanations for the changes of …
Persistent link: https://www.econbiz.de/10014204115
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Bayesian Estimation of a Decision Using Information Theory
Mostaghimi, Mehdi - 2007
The problem of modeling the revision of the information of a decision maker based on the information of the expert sources is considered. The basic model assumes that the information of the decision maker and expert sources is in the form of the probability mass functions. The modeling approach...
Persistent link: https://www.econbiz.de/10014049926