The objective of this paper is to describe the potential offered by the Dempster-Shafer theory (DST) of evidence as a promising improvement on "traditional" approaches to decision analysis. Dempster-Shafer techniques originated in the work of Dempster on the use of probabilities with upper and...

There is an emerging literature in the field of hedonic regressions which successfully applies flexible functional forms. In contrast, numerous authors report hedonic regressions with relatively simple functions, often with little or no attempt to consider interaction terms and higher level...

The implications for financial stability of lightly regulated and highly leveraged financial institutions such as hedge funds and private equity funds, together with innovative financial products such as derivatives and asset-backed securities, remain a subject of controversy, especially in the...

We examine the relationship between the prices paid by households and their shopping patterns measured in terms of shopping frequency and the range of stores visited. We use the TNS data which allows us to control for household heterogeneity. The main contribution of the paper is that we find...

Japan’s “two lost decades” perhaps represent an extreme example of a weak recovery from a financial crisis, and are now referred to as “Japanization.” More recently, widespread stagnation in advanced economies in the wake of the global financial crisis led to fears that Japanization...