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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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Pension fund management with hedging derivatives, stochastic dominance and nodal contamination
TL;DR: Numerical results show that the proposed Asset and Liability Management model can efficiently manage the pension fund satisfying several targets such as liquidity, returns, sponsor’s extraordinary contribution and funding gap.
Journal ArticleDOI
Density inference for ranking European research systems in the field of economics
TL;DR: In this article, the authors adapted the econometrics of inequality measurement in order to investigate the publishing habits of the economists of seven European countries: Belgium, France, Germany, Italy, Netherlands, Spain and UK.
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Stochastic Dominance Efficiency Analysis of Diversified Portfolios: Classification, Comparison and Refinements
TL;DR: This paper presents the first systematic review of all three approaches to stochastic dominance in a unified methodological framework, critically evaluating the advantages and disadvantages of the alternative approaches.
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Bank Forward Lending in Alternative Funding Environments
TL;DR: In this paper, the authors examine the effects of loan commitments on bank lending behavior in both deposit-funding and liability management environments and show that increased uncertainty regarding borrower takedown behavior diminishes the volume of commitments, expected bank and banking system size.
Book ChapterDOI
Measuring Income Inequality
TL;DR: In this article, a discussion on subgroup decomposable inequality indices that can be broken down into between-group and within-group components of inequality for any partitioning of the population into some well-defined subgroups is also presented.
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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
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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.