The axiom translation invariance consists in asserting the invariance of the ranking of two utility streams if one applies the same translation to both. This axiom is significant in the characterization of utilitarian criteria in finite dimension. This characterization is achieved thanks to the...

The axiom translation invariance consists in asserting the invariance of the ranking of two utility streams if one applies the same translation to both. This axiom is significant in the characterization of utilitarian criteria in finite dimension. This characterization is achieved thanks to the...

The value of an artwork depends not only on the artist, even more so on the system which is adding and increasing its value. This system contains a number of institutions which are supporting the artist and his works to become established in the market, get internationally renowned and as a...

We empirically test the relationship between crime and impatience at the individual level exploiting data from the National Longitudinal Survey of Youth 1997 (NLSY97). Besides providing information on both violent and property crimes, NLSY97 allows to observe different behaviors sharing...

In our previous paper “A unified approach to systemic risk measures via acceptance sets” (Mathematical Finance, 2018), we have introduced a general class of systemic risk measures that allow random allocations to individual banks before aggregation of their risks. In the present paper, we...

MIND is a hybrid model incorporating several energy related sectors in an endogenous growth model of the world economy. This model structure allows a better understanding of the linkages between the energy sectors and the macro-economic environment. We perform a sensitivity analysis and...

I offer a selective review of discounting and climate policy. Analytic and numerical models show that different assumptions greatly change the degree to which decisions about climate policy depend on the discount rate. I discuss a claim that standard models exaggerate the current generation's...

Climate change causes range shifts of species and habitats, thus making existing reserve networks less suitable in the future. In principle, reserve networks may be adapted to climate change in two ways: by providing additional funds and / or by allowing for the sale of sites to liquidate funds...

Corrupt bureaucrats manipulate rules and regulations to coerce the private agents to pay bribes. In such an environment the cost of dealing with the public sector is uncertain as the regulations are not observed as they are originally defined. Combined with weak enforcement and compliance,...

This article uses university administration data to investigate the relation between student behavior (rapid response in finalizing enrolment procedures) and academic performance. It shows how student promptness in enrolling, or lack of it, can prove a useful forecast of academic success....