Showing 1 - 10 of 31
theorem is presented in a form which includes the distortions and links the duality to the parallel theories of risk and …
Persistent link: https://www.econbiz.de/10011126292
This article reports a study that tests whether the internal consistency of the standard gamble can be improved upon by incorporating loss weighting and probability transformation parameters in the standard gamble valuation procedure. Five alternatives to the standard EU formulation are...
Persistent link: https://www.econbiz.de/10010928594
We study a very general setting, and propose a procedure for estimating the critical values of the extended Kolmogorov-Smirnov tests of First and Second Order Stochastic Dominance due to McFadden (1989) in the general k-prospect case. We allow for the observations to be generally serially...
Persistent link: https://www.econbiz.de/10010746327
In order to develop statistical tests for the Lyapunov exponents of deterministic dynamical systems, we develop bootstrap tests based on empirical likelihood for percentiles and expectiles of strictly stationary processes. The percentiles and expectiles are estimated in terms of asymmetric least...
Persistent link: https://www.econbiz.de/10011126619
traditional approach is that measures the risk and return tradeoff in terms of mean and variance of final wealth. However, there …
Persistent link: https://www.econbiz.de/10010745189
approach as its measurement framework and recommended that all public bodies use the framework to “agree priorities, set …: Final Recommendations of the Equalities Review Steering Group on Measurement (CASEpaper 121), were prepared as background … papers to assist in the development of the measurement framework for the Equalities Review. It discusses the challenges in …
Persistent link: https://www.econbiz.de/10011071284
This paper provides a review and critical discussion of indicators, which attempt to combine the measurement of … (GS) have merely focused on the capacity to provide utility in the future, but have not included the measurement of … failed to account for sustainability in their measurement of current well-being. The paper then critically reviews the Index …
Persistent link: https://www.econbiz.de/10010745092
Social capital has emerged as a key concept on the social sciences in general and political science/public policy in particular over the last two decades or so, because, by facilitating collective action among the actors, it leads to increased levels of performance in several public policy areas...
Persistent link: https://www.econbiz.de/10005797588
a deeper understanding as to why the economy lacks in specific areas of risk sharing arrangements. As well, it can point … to areas where the economy's risk sharing capability can be enhanced. Using household data from the Panel Study of Income … Dynamics, we find that a negligible amount of risk (around 10%) is shared in the aggregate, about 50% is shared within regions …
Persistent link: https://www.econbiz.de/10005475171
risk information in the global economy. The paper examines the current state of the financial risk framework, notes its … place. The proposed open-source financial risk model separates the dual function that internal risk models perform within … financial institutions, first to attempt to optimize the risk-return profile of mostly private economic rent-seeking entities …
Persistent link: https://www.econbiz.de/10011163501