Showing 1 - 10 of 15
The St Petersburg paradox could be used as an extreme demonstration of the utility function cardinalisation in case of stochastic utility. In this article we reassume the von Neumann and Mongernstern explanation to this paradox based on the risk aversion expressed by the strict concavity of the...
Persistent link: https://www.econbiz.de/10005036631
This article, based on an empirical analysis, discusses factors affecting property prices and tries to identify periods of property price overvaluation in the Czech Republic. To achieve this, the article uses both relatively simple approach using ratios related to the house prices (e.g....
Persistent link: https://www.econbiz.de/10008553108
This paper presents the results of a comparison of an original theoretical concept of modeling human decisions under risk with two well-known models. In the paper the demand function for insurance is constructed for the model of maximization of the probability of agent’s (economical) survival....
Persistent link: https://www.econbiz.de/10005698651
This paper analyses problems within the asymmetric information models (principal agent models) where we replace standard assumption of maximisation of expected income by maximisation of probability of economic survival. This paper concentrates on two basic models- adverse selection model and...
Persistent link: https://www.econbiz.de/10005698674
The theory "corporate social responsibility" (CSR) is characterized in the paper. The paper expresses the authors´ opinion, that CSR as a mere proclamation of necessity of the firms´ ethic behavior does not enforce this into praxis. The internal economic motivation to CSR is the necessary...
Persistent link: https://www.econbiz.de/10008752941
The theory 'corporate social responsibility' (CSR) is characterized in the paper. The paper expresses the authors' opinion, that CSR as a mere proclamation of necessity of the firms' ethic behavior does not enforce this into praxis. The internal economic motivation to CSR it is the necessary...
Persistent link: https://www.econbiz.de/10010322153
Three original microeconomic models of an externality market are described: (1) model of the marketable permits for exhalations emission, (2) model of optimal financial satisfaction of a damage caused by a negative externality in the economy with agents maximizing probability of their survival...
Persistent link: https://www.econbiz.de/10010322187
This paper shows results of comparison of the original theoretical conception of modeling human decisions under risk with two well known models. In the paper the demand function for insurance is constructed for the model of maximization of the probability of agent’s (economical) survival. This...
Persistent link: https://www.econbiz.de/10005673618
Persistent link: https://www.econbiz.de/10001966879
Persistent link: https://www.econbiz.de/10001937513