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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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Is Expected Utility Theory Applicable? A Revealed Preference Test
TL;DR: In this article, the authors propose a method to assess the adequacy of expected utility theory in empirical studies involving discrete and continuous choices and show that EUT is applicable only when expected payoffs of gambles are similar, or when more than half of wealth is at risk.
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Portfolio Adjustments: An Application to Rural Banking
Lindon J. Robison,Peter J. Barry +1 more
TL;DR: In this article, a general method is provided for evaluating how an expected utility-maximizing choice is changed in response to factors shifting the mean-variance (EV) efficient set and changes in the decision maker's level of risk aversion.
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Growing out of the crisis: hidden assets to Greece's transition to an innovation economy
TL;DR: Greece's currently planned institutional reforms will help to get the country going with limited economic growth as discussed by the authors, but Greece lacks an established competitive industry and an innovation-friendly environment, resulting in a low export ratio given the small size of the country and its long-time EU membership.
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Economic Causes of Late-Nineteenth Century Agrarian Unrest:New Evidence
TL;DR: In this article, the authors present estimates of economic instability in agriculture and evidence on the location and intensity of agrarian unrest for 14 northern states from 1866 to 1909, and statistically test for a relationship between the two.
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Informal cooperation in the US and Germany: cooperative managerial capitalism vs. competitive managerial capitalism in interfirm information trading
TL;DR: In this paper, the authors compared the informal exchange of technical information among 438 managers in US and German steel companies and found that managers of German companies are found to interact more frequently than US managers with colleagues in other companies.