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Essays in the theory of risk-bearing
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The article was published on 1958-01-01 and is currently open access. It has received 3688 citations till now. The article focuses on the topics: Bearing (mechanical).read more
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Exploration vs Exploitation vs Safety: Risk-averse Multi-Armed Bandits
TL;DR: In this paper, the authors presented the Multi-Armed Risk-Aware Bandit (MARAB) algorithm, which takes as arm quality its conditional value at risk, and when the user-supplied risk level goes to 0, the arm quality tends toward the essential infimum of the arm distribution density.
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Consumption of Economic Information in Agriculture
TL;DR: In this paper, a model of decision makers' demand for agricultural economic information services is developed to evaluate hypotheses as to how human capital, and functional role of actors in commodity systems affect demand for variously formatted information.
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Econometric testing for risk averse behaviour in agriculture
TL;DR: In this article, an asset pricing model of commodity storage is specified with constant relative risk aversion utility and lognormally distributed commodity prices, and the risk premium on commodity storage markets is characterized in terms of the relative risk-averse parameter of a representative agent and estimates of this parameter can be obtained using maximum likelihood methods.
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On the winning virtuous strategies for ultra high frequency electronic trading in foreign currencies exchange markets
TL;DR: In this paper, the authors discuss the probability theory and the statistics theory application to accurately characterize the trends in the foreign currency exchange rates dynamics in the short and long time periods and formulate the Ledenyov law on the limiting frequency (the cut-off frequency) for the ultra high frequency electronic trading in the currency exchange markets.
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Insurance Demand Without the Expected-Utility Paradigm
TL;DR: In this paper, the authors examined the optimality of full versus partial coverage and Arrow's Theorem on straight deductible policies in a model assuming only risk aversion, and not necessarily expected-utility maximization.