Search Results - subject:"Functions"

Loss Functions in Option Valuation: A Framework for Model Selection

Bams, Dennis; Lehnert, Thorsten; Wolff, Christian C - C.E.P.R. Discussion Papers - 2005

In this paper, we investigate the importance of different loss functions when estimating and evaluating option pricing … hoc Black-Scholes model to DAX index options. Our empirical results suggest that different loss functions lead to …

Persistent link: https://www.econbiz.de/10005791774

Learning Foreign Languages.Theoretical and Empirical Implications of the Selten and Pool Model

Ginsburgh, Victor; Ortuño-Ortín, Ignacio; Weber, Shlomo - C.E.P.R. Discussion Papers - 2005

In this paper we adopt the Selten-Pool model (1993) framework of language acquisition that is based on the notion of communicative benefits and learning costs. We consider a model with languages that serve as imperfect substitutes and show that under supermodularity of the communicative benefits...

Persistent link: https://www.econbiz.de/10005792036

How Many Balance Functions Does it Take to Determine a Utility Function?

Pratt, John - In: Journal of Risk and Uncertainty 31 (2005) 2, pp. 109-127

elsewhere. Infinitely many balance functions determine u unless they are rationally related in a uniform way. Copyright Springer …

Persistent link: https://www.econbiz.de/10005709757

Maximal-Element Rationalizability

Bossert, Walter; Sprumont, Yves; Suzumura, Kotaro - In: Theory and Decision 58 (2005) 4, pp. 325-350

We examine the maximal-element rationalizability of choice functions with arbitrary domains. While rationality …

Persistent link: https://www.econbiz.de/10005709925

Lorenz non-consistent welfare and inequality measurement

Chateauneuf, Alain; Moyes, Patrick - In: Journal of Economic Inequality 2 (2005) 2, pp. 61-87

Typical welfare and inequality measures are required to be Lorenz consistent which guarantees that inequality decreases and welfare increases as a result of a progressive transfer. We explore the implications for welfare and inequality measurement of substituting the weaker absolute...

Persistent link: https://www.econbiz.de/10005711552

Hyperbolic Efficiency and Parametric Distance Functions: With Application to Spanish Savings Banks

Cuesta, Rafael; Zofío, José - In: Journal of Productivity Analysis 24 (2005) 1, pp. 31-48

Distance functions are gaining relevance as alternative representations of production technologies, with growing … numbers of empirical applications being made in the productivity and efficiency field. Distance functions were initially …, different techniques such as non parametric-DEA and parametric-SFA have been used to calculate these distance functions. However …

Persistent link: https://www.econbiz.de/10005711806

Exports, Product Differentiation and Knowledge Spillovers

León-Ledesma, Miguel - In: Open Economies Review 16 (2005) 4, pp. 363-379

Empirical studies on aggregate export behavior have recently emphasized the role played by innovation as the main force driving product differentiation and competitiveness for developed countries. These studies treat foreign innovation as a variable that affects negatively national export...

Persistent link: https://www.econbiz.de/10005715133

A sufficient condition for all-or-nothing information supply in price discrimination

LiCalzi, Marco - EconWPA - 2005

This paper provides a sufficient condition under which the optimal policy of a monopolistic seller who is considering the tradeoff between price discrimination and information disclosure is at one of two extremes: either buyers are given access to all the available information, or the seller...

Persistent link: https://www.econbiz.de/10005118566

Bayesian decision criteria in the presence of noises under quadratic and absolute value loss functions

Pham-Gia, T.; Turkhan, N. - In: Statistical Papers 46 (2005) 2, pp. 247-266

Persistent link: https://www.econbiz.de/10008486805

Long-term and Short-term dynamics of the Economic System according to Method of System Potential.

Pushnoi, Grigorii - EconWPA - 2005

The new method of system dynamics, Method of System Potential (MSP), is applied for examination of long-term and short-term dynamics of Economic System. According to MSP two ways of long-term development of a system exist: (1) cyclical and (2) noncyclical dynamics of efficiency index of a system...

Persistent link: https://www.econbiz.de/10005118742