A problem of sequential decision making under uncertainty involving the testing and regulating of a potentially hazardous substance is analyzed using the Variable Sample Probability Ratio Test.

In this paper, it is shown, in the general case, that a multiple causes death model is equivalent to a competing independent risks model.

This paper develops necessary and sufficient conditions for monotone comparative statics predictions in several general classes of stochastic optimization problems. There are two main results, where the first pertains to single crossing properties (of marginal returns, incremental returns, and...

In this paper I consider social choices under uncertainty. I prove that any social choice rule that satisfies independence of irrelevant alternatives, translation invariance, and weak anonymity is consistent with ex post Bayesian utilitarianism.

A problem of sequential decision making under uncertainty involving the testing and regulating of a potentially hazardous substance is analyzed using the Variable Sample Probability Ratio Test.

We study a decision-maker who follows the Savage axioms. We show that if s(he) is able to take unobservable actions which influence the probabilities of outcomes then it can appear to an outsider as if his/her subjective probabilities are non-additive. Implications for multi-period decisions are...

In this paper we show how the order of Linear Stochastic Dominance proposed by Gollier (1995) can be applied to situations with dependent risky assets.