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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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Marginal valuations of travel time and scheduling, and the reliability premium
TL;DR: The authors derived marginal valuations of travel time and scheduling at the certainty equivalent, showing these to diverge from those under uncertainty, which raises the possibility of bias should the costs of unreliability not be included in appraisal.
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Aggregation of Heterogenous Beliefs and Asset Pricing in Complete Financial Markets
TL;DR: In this article, a method to aggregate heterogenous individual beliefs, given a competitive equilibrium in complete asset markets, into a single \market probability" such that it generates, if commonly shared by all investors, the same marginal valuation of assets by the market (the same equilibrium prices) as well as by each individual investor.
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Optimal Choices among Alternative Technologies with Stochastic Yield
TL;DR: Yassour, Zilberman, and Rausser as mentioned in this paper proposed an alternative start-to-start scheme for agricultural and resource economics, which is similar to the one described in this paper.
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Ranking Auctions with Risk Averse Bidders
James L. Smith,Daniel Levin +1 more
TL;DR: In this article, the first and second-price independent value auctions with risk-averse bidders when entry is endogenous were ranked, and it was shown that the effect of entry sometimes reverses the ranking.
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Risk preferences in multi-period consumption models, the equity premium puzzle, and habit formation utility
Donald J. Meyer,Jack Meyer +1 more
TL;DR: The relationship between the relative risk aversion measure for the utility function for consumption and that for the value function for wealth is a derived relationship whose properties depend on how consumption and wealth are defined and measured as discussed by the authors.