Brown et al. (2006) derive a Stein-type inequality for the multivariate Student’s t-distribution. We generalize their result to the family of (multivariate) generalized hyperbolic distributions and derive a lower bound for the variance of a function of a random variable.

Access to health facilities has long been considered an important factor, though not unique, impacting utilization of related health services. The location of health facilities is crucial for delivery of primary health care and social services. The identification of deficiencies in coverage as...

type="main" xml:lang="es" <title type="main">Resumen</title> <p>Se emplea un modelo de localización en la planificación urbana y regional de las instalaciones de sitio que proporcionan servicios de algún tipo. Las cuestiones a tener en cuenta incluyen por lo general el número de instalaciones y el lugar donde ubicarlas,...</p>

This paper studies the model risk; the risk of selecting a model for estimating the Value-at-Risk (VaR). By considering four GARCH-type volatility processes exponentially weighted moving average (EWMA), generalized autoregressive conditional heteroskedasticity (GARCH), exponential GARCH...

The safety-first principle is a natural motivational factor in decision making, and is closely related to certain popular heuristics such as satisficing. We provide a systematic analysis of optimal portfolio choice under Roy's safety-first principle by examining and comparing the behavior...

We develop a formal model to investigate the implications of bounded rationality for the origin and structure of loss aversion and optimism in marketplaces. Based on Simon's original description, we explicitly model bounded rationality as a decision mechanism that captures incomplete...

Reference dependence, loss aversion, and risk seeking for losses together comprise the preference-based component of prospect theory that sets its value function apart from the standard risk-aversion model. Using an elasticity analysis, we show that this distinctive preference component serves...

Utilization of sexual and reproductive health (SRH) services can significantly impact health outcomes, such as pregnancy and birth, prenatal and neonatal mortality, maternal morbidity and mortality, and vertical transmission of infectious diseases like HIV/AIDS. It has long been recognized that...

Tasche [Tasche, D., 1999. Risk contributions and performance measurement. Working paper, Technische Universität München] introduces a capital allocation principle where the capital allocated to each risk unit can be expressed in terms of its contribution to the conditional tail expectation...