Search Results - subject:"utility maximization"

Evolutionary economics and household behavior

Horioka, Charles - 2014

neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …

Persistent link: https://www.econbiz.de/10010390070

Evolutionary economics and household behavior

Horioka, Charles - 2014

neoclassical assumption of selfish utility maximization with bounded rationality and satisficing and by incorporating the reaction …

Persistent link: https://www.econbiz.de/10010390395

Simulating the market coefficient of relative risk aversion

Azar, Samih Antoine; Karaguezian-Haddad, Vera - In: Cogent economics & finance 2 (2014) 1, pp. 1-7

In this paper, expected utility, defined by a Taylor series expansion around expected wealth, is maximized. The coefficient of relative risk aversion (CRRA) that is commensurate with a 100% investment in the risky asset is simulated. The following parameters are varied: the riskless return, the...

Persistent link: https://www.econbiz.de/10010490408

On modeling banking risk

Tsionas, E. G. - 2014

Persistent link: https://www.econbiz.de/10011280215

Consumption habits and humps

Kraft, Holger; Munk, Claus; Seifried, Frank Thomas; … - 2013

We show that the optimal consumption of an individual over the life cycle can have the hump shape (inverted U-shape) observed empirically if the preferences of the individual exhibit internal habit formation. In the absence of habit formation, an impatient individual would prefer a decreasing...

Persistent link: https://www.econbiz.de/10010327862

A Note on Almost Stochastic Dominance

Guo, Xu; Zhu, Xuehu; Wong, Wing-Keung; Zhu, Lixing - Volkswirtschaftliche Fakultät, … - 2013

To satisfy the property of expected-utility maximization, Tzeng et al. (2012) modify the almost second … dominance has the hierarchy property but not expected-utility maximization. In contrast, Tzeng et al.'s (2012) definition has … the property of expected-utility maximization but not the hierarchy property. This phenomenon also holds for higher …

Persistent link: https://www.econbiz.de/10011108995

A Generalized Random Regret Minimization Model

Chorus, Caspar - Volkswirtschaftliche Fakultät, … - 2013

canonical linear-in-parameters Random Utility Maximization (RUM) model, the conventional Random Regret Minimization (RRM) model …

Persistent link: https://www.econbiz.de/10011111147

Almost Stochastic Dominance for Risk-Averse and Risk-Seeking Investors

Xu, Guo; Wing-Keung, Wong; Lixing, Zhu - Volkswirtschaftliche Fakultät, … - 2013

In this paper we �first develop a theory of almost stochastic dominance for risk-seeking investors to the first three orders. Thereafter, we study the relationship between the preferences of almost stochastic dominance for risk-seekers with that for risk averters.

Persistent link: https://www.econbiz.de/10011257716

Enrollment costs, university quality and higher education choices in Italy

Pigini, Claudia; Staffolani, Stefano - Volkswirtschaftliche Fakultät, … - 2013

In this paper, we analyze the higher education choices of Italian secondary school leavers by addressing the roles of university quality, costs and geographical distance to the institution as well as the relationship between students’ choices and their personal and household’s attributes,...

Persistent link: https://www.econbiz.de/10011258778

The irresistible charm of the Microfoundations, or the overwhelming force of the discipline's Hard Core?

Skouras, Thanos; Kitromilides, Yiannis - Volkswirtschaftliche Fakultät, … - 2013

The appeal of the microfoundations project in economics is strongly supported by the considerable force of the discipline's "hard core" (in Lakatos' sense). This is especially the case, if the microfoundations metaphor is seen as a way of giving precedence to microeconomics in unifying economic...

Persistent link: https://www.econbiz.de/10011260261