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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
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Poverty Comparisons: A Guide to Concepts and Methods
TL;DR: In this article, the authors survey the issues that need to be considered in answering these questions, and discuss a number of new tools of analysis which can greatly facilitate poverty comparisons, recognizing the uncertainties involved.
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The Kuznets process and the inequality—development relationship
Sudhir Anand,S.M.R. Kanbur +1 more
TL;DR: In this paper, the authors present a formalization of the Kuznets process, conduct a general analysis of distributional change under this process, and derive the functional forms of, and conditions for a turning point in, the inequality-development relationship for six commonly used indices of inequality.
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Axiomatic characterization of insurance prices
TL;DR: In this article, the authors take an axiomatic approach to characterize insurance prices in a competitive market setting, and present four axioms to describe the behavior of market insurance prices.
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Rational Expectations, Information Acquisition, and Competitive Bidding
TL;DR: In this article, a bidding model is developed which has the market-like features that bidders act as price takers and that prices convey information, and for which the equilibrium price is fully revealing.
References
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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
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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.