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This study contributes to the understanding of behavioural responses to climate change induced extreme weatherevents. It suggest a microeconometric method for measuring flooding related risk preferences of affectedindividuals. The method is outlined using the empirical case of agricultural...
Persistent link: https://www.econbiz.de/10009442826
preferences beyond the classical concept of expected utility theory. The thesis contains four main chapters.The first two chapters … dependence compared to classical models of expected utility theory. It is shown that some empirical puzzles concerning … utility theory are met. It is shown that the methodological concerns are empirically relevant when a classification of …
Persistent link: https://www.econbiz.de/10009482308
sets simulated for Full Signal Detection Theory and its special cases of standard Signal Detection Theory and Complementary … Signal Detection Theory. …
Persistent link: https://www.econbiz.de/10009441534
"The rapidly emerging 'new science' of nonequilibrium systems theory may offer common property researchers and scholars …. Deriving from the dynamical holism of quantum physics, nonequilibrium theory engages the spontaneity, chaos, interrelatedness … paper explores the aspects of nonequilibrium theory which may be instructive in an expanded vision of common property …
Persistent link: https://www.econbiz.de/10009468365
theory, development theory and structuralism have all made contributions to understanding the effects of this global …
Persistent link: https://www.econbiz.de/10009431129
In this paper, we develop a decision-theoretic frameworkfor evaluating data mining systems, which employ classification … methods, in terms of their utility in decision-making. The decision-theoretic model provides an economic perspective on the … value of â extracted knowledge,â in terms of its payoff to the organization,and suggests a wide range of decision problems …
Persistent link: https://www.econbiz.de/10009431139
essay proposes a welfare valuation theory amenable to analyses in this context. The second essay proposes an empirical … strategy to implement the theory in practice, and demonstrates how policies may be misguided if regulators follow conventional … theory of green consumerism, which correctly accounts for asymmetric information and is consistent with empirical evidence …
Persistent link: https://www.econbiz.de/10009462877
decision maker maximizes his expected utility under uncertainty where both the action he takes and the state of the environment … determines the payoff earned. The decision maker has an opportunity to gather information about the decision environment a priori … at a certain cost. There might be different information alternatives, and the decision maker has to determine which …
Persistent link: https://www.econbiz.de/10009465093