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Rules for Ordering Uncertain Prospects
Josef Hadar,William R Russell +1 more
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This article is published in The American Economic Review.The article was published on 1969-01-01 and is currently open access. It has received 1748 citations till now.read more
Citations
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Editorial : Serge Kolm’s “The Optimal Production of Social Justice”
Dissertation
Models and algorithms for dominance-constrained stochastic programs with recourse
TL;DR: In this article, we stellen die theoretische Relevanz der vorliegenden Problemklasse heraus und tragen zur Entwicklung von effizienten Losungsverfahren bei.
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New Results for additive and multiplicative risk apportionment
TL;DR: In this article, the preference for additive and multiplicative risk apportionment when risk ordering relies on stochastic dominance is investigated, and it is shown that additive risk preference is preserved when the decision-maker is confronted to other risk situations, so long as the total order of the dominance relationships among risk couples remains the same.
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Risk Aversion with Local Risk Seeking and Stock Returns: Evidence from the UK Market
TL;DR: In this article, the authors examined if this type of risk preference creates a premium in UK stock prices using a third-degree stochastic dominance test and found that an arbitrage portfolio long on stocks with low past downside risk in bear markets and high past upside potential in bull markets and short on stocks having high past negative risk and low past positive potential in both bull and bear markets generates a premium of 2.89% per month.
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A monetarist model of inflation
TL;DR: In this article, the authors consider an overlapping generations model with new money introduced via autocorrelated lump-sum transfers, and derive a condition, less restrictive than serial independence of monetary growth rates, which is necessary as well as sufficient for neutrality.
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Book
Theory of Games and Economic Behavior
TL;DR: Theory of games and economic behavior as mentioned in this paper is the classic work upon which modern-day game theory is based, and it has been widely used to analyze a host of real-world phenomena from arms races to optimal policy choices of presidential candidates, from vaccination policy to major league baseball salary negotiations.
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Admissibility and Measurable Utility Functions
James P. Quirk,Rubin Saposnik +1 more
Book ChapterDOI
Ordered Families of Distributions
TL;DR: In this article, a comparison is made of several definitions of ordered sets of distributions, some of which were introduced earlier by the author [7], [8] and by Rubin [10], and the results are applied to obtaining tests that give a certain guaranteed power with a minimum number of observations.
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Dynamic Inventory Policy with Varying Stochastic Demands
TL;DR: In this article, a dynamic inventory model is formulated in which the demand distributions may change from period to period, and the optimal policy at each stage is characterized by a single critical number which also could vary in successive periods.