Search Results - subject:"value function"

The control of invasive species on private property with neighbor-to-neighbor spillovers

Fenichel, Eli P.; Richards, Timothy J.; Shanafelt, David W. - In: Environmental & resource economics : the official … 59 (2014) 2, pp. 231-255

Persistent link: https://www.econbiz.de/10010442927

Experimental studies of impacts of reference point and its change on individual value

Qian, Jianjiang; Zhao, Yong; Yu, Jianlin - In: Theoretical economics letters 4 (2014) 9, pp. 795-802

Persistent link: https://www.econbiz.de/10010531244

Assigning a value difference function for group decision making

Plazola Zamora, Laura; Sabdoval Bravo, Salvador; Mora … - In: EconoQuantum : Revista de Economía y Negocios 11 (2014) 2, pp. 148-169

Persistent link: https://www.econbiz.de/10011558655

Doubts about the descriptive validity of the expected utility theory

Skořepa, Michal - In: Politická ekonomie 2007 (2007) 1, pp. 106-120

This paper summarizes the major events in the recent history of modelling human decisions under risk. After presenting the basics of expected utility theory, the key pieces of evidence are described which showed that under certain circumstances, this theory is not descriptively valid. The most...

Persistent link: https://www.econbiz.de/10005036591

A viability theory approach to a two-stage optimal control problem

Krawczyk, Jacek B.; Serea, Oana-Silvia - Volkswirtschaftliche Fakultät, … - 2007

, or switch, to occur the “new technology” value function needs to dominate the “old technology” value function, after the … switch. We charaterise the value function using the fact that its hypograph is a viability kernel of an auxiliary problem and …

Persistent link: https://www.econbiz.de/10005623203

Integral-Value Models for Outcomes over Continuous Time

Harvey, Charles M.; Østerdal, Lars Peter - Økonomisk Institut, Københavns Universitet - 2007

are satisfied if and only if the preferences are represented by a value function having an integral form. …

Persistent link: https://www.econbiz.de/10005749539

On the Principle of Optimality for Nonstationary Deterministic Dynamic Programming

Kamihigashi, Takashi - Research Institute for Economics and Business … - 2007

This note studies a general nonstationary infinite-horizon optimization problem in discrete time. We allow the state space in each period to be an arbitrary set, and the return function in each period to be unbounded. We do not require discounting, and do not require the constraint...

Persistent link: https://www.econbiz.de/10005784042

Monetary Equilibrium and the Differentiability of the Value Function

Aliprantis, C.D.; Camera, G.; Ruscitti, F. - Krannert School of Management, Purdue University - 2007

In this study we offer a new approach to proving the differentiability of the value function, which complements and … of monetary economies developed in [13]. For this type of environments we demonstrate that the value function is …

Persistent link: https://www.econbiz.de/10005786815

Teorie očekávaného užitku versus kumulativní prospektová teorie: empirický pohled (available in Czech only)

Skořepa, Michal - In: Czech Economic Review 1 (2007) 2, pp. 180-195

This paper pits expected utility theory and cumulative prospect theory against each other as regards their descriptive accuracy. Some older as well as newer pieces of evidence are described which show that under certain circumstances, expected utility theory is not descriptively valid. The most...

Persistent link: https://www.econbiz.de/10005698647

Poptávková funkce na trhu s pojištěním: porovnání maximalizace paretovské pravděpodobnosti přežití s teorií EUT von Neumanna a Morgensterna a s prospektovou teorií Kahnemana a Tverského (available in Czech only)

Hlavacek, Jiri; Hlaváček, Michal - In: Czech Economic Review 1 (2007) 2, pp. 116-134

other models: the expected-utility theory (von Neumann, Morgenstern) and the asymmetric value function (Kahneman, Tversky …

Persistent link: https://www.econbiz.de/10005698651