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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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Robust portfolio decision analysis: An application to the energy research and development portfolio problem
TL;DR: A proof-of-concept application aimed at informing decisions over investments into clean energy technology R&D portfolios in the context of climate change is developed and it is illustrated how Robust Portfolio Decision Analysis helps identify robust individual investments.
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A Performance Comparison Between Cross-Sectional Stochastic Dominance and Traditional Event Study Methodologies
Glen A. Larsen,Bruce G. Resnick +1 more
TL;DR: In this paper, the performance of cross-sectional stochastic dominance (SD), first proposed by Falk and Levy (1989), is compared with three traditional event study methodologies: the mean adjusted model, the Market Adjusted model, and the Market and Risk Adjusted Returns model.
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Firm valuation, corporate taxes, and default risk
TL;DR: In this article, the authors explore the effect of corporate income taxes in the presence of default risk on the value of firms in the same risk class when the financing of the firm does not alter the available returns in the capital market.
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Implementation of Reduced Form Mechanisms: A Simple Approach and a New Characterization ¤
Sergiu Hart,Philip J. Reny +1 more
TL;DR: In this article, a new characterization of implementability of reduced form mechanisms in terms of straightforward second-order stochastic dominance is presented, and a simple proof of Matthews (1984) conjecture, proved by Border (1991), on implementability is presented.
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Optimal monotone relabelling of partially non-monotone ordinal data
TL;DR: By exploiting the properties of a (minimum) flow network, and identifying pleasing properties of some maximum cuts, an elegant single-pass optimal ordinal relabelling algorithm is formulated.
References
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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.