Similar Search Results

Psychophysical interpretation for utility measures

He, Yuqing - In: Economics: The Open-Access, Open-Assessment E-Journal 6 (2012) 2012-29, pp. 1-35

The paper explores utility measures by combining experiments with mathematical derivations in the psychophysics paradigm. The analysis on the ultimatum game experiment reveals evidences for the utility threshold and thus supports Bernoulli's utility logarithmic law. Both experimental results and...

Persistent link: https://www.econbiz.de/10010309604

Competitive outcomes and the core of TU market games

Brangewitz, Sonja; Gamp, Jan-Philip - 2011

We investigate the relationship between certain subsets of the core for TU market games and competitive payoff vectors of certain markets linked to that game. This can be considered as the case in between the two extreme cases of Shapley and Shubik (1975). They remark already that their result...

Persistent link: https://www.econbiz.de/10010319963

Existence of arrow-debreu equilibrium with generalized stochastic differential utility

Beißner, Patrick - 2011

This paper establishes, in the setting of Brownian information, a general equilibrium existence result under a stochastic differential formulation of intertemporal recursive utility. The present class of utility functionals is generated by a backward stochastic differential equation and...

Persistent link: https://www.econbiz.de/10010319971

Competitive outcomes and the inner core of NTU market games

Brangewitz, Sonja; Gamp, Jan-Philip - 2011

We consider the inner core as a solution concept for cooperative games with non- transferable utility (NTU) and its relationship to competitive equilibria of markets that are induced by an NTU game. We investigate the relationship between certain subsets of the inner core for NTU market games...

Persistent link: https://www.econbiz.de/10010319985

The Pygmalion effect : an agency model with reference dependent preferences

Daido, Kohei; Itoh, Hideshi - 2005

We attempt to formulate and explain two types of self-fulfilling prophecy, called the Pygmalion effect (if a supervisor thinks her subordinates will succeed, they are more likely to succeed) and the Galatea effect (if a person thinks he will succeed, he is more likely to succeed). To this...

Persistent link: https://www.econbiz.de/10010261169

Robust maximization of consumption with logarithmic utility

Hernández-Hernández, Daniel; Schied, Alexander - 2007

We anlyze the stochastic control approach to the dynamic maximization of the robust utility of consumption and investment. The robust utility functionals are defined in terms of logarithmic utility and a dynamically consisten convex risk measure. The underlying market is modeled by a diffusion...

Persistent link: https://www.econbiz.de/10010263687

The (de)composition of firms: interdependent preferences of corporate actors

Nicklisch, Andreas - 2007

This article discusses the limitations of the orthodox economic theory of the firm as a nexus of contracts. Various …. Results are compared with the predictions of the orthodox economic theory. …

Persistent link: https://www.econbiz.de/10010264828

Robust optimal control for a consumption-investment problem

Schied, Alexander - 2007

combines recent results by Wittm¨uss (2007) on the duality theory of robust optimization of consumption with a stochastic …

Persistent link: https://www.econbiz.de/10010267230

Public goods, transferable utility and divorce laws

Chiappori, Pierre-André; Iyigun, Murat; Weiss, Yoram - 2007

We reconsider the well known Becker-Coase (BC) argument, according to which changes in divorce laws should not affect divorce rates, in the context of households which consume public goods in addition to private goods. For this result to hold, utility must be transferable both within marriage...

Persistent link: https://www.econbiz.de/10010267917

Priorities and prospect theory

Happich, Michael - 2001

summarized in a so-called "Prospect Theory". These biases are quite obvious if one compares data of affected and unaffected … people. But this theory offers, as well, a way to get results more accurate. … der sogenannten "Prospect Theory" zusammengefasst wurden. Diese Verzerrungen werden deutlich im Vergleich von Evaluationen …

Persistent link: https://www.econbiz.de/10010300545