Results 41 to 50 of about 128 (125)
On convexity and supermodularity. [PDF]
Concavity and supermodularity are in general independent properties. A class of functionals defined on a lattice cone of a Riesz space has the Choquet property when it is the case that its members are concave whenever they are supermodular.
Luigi Montrucchio, Massimo Marinacci
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Limit Orders and Knightian Uncertainty
International Economic Review, Volume 67, Issue 1, Page 353-363, February 2026.ABSTRACT A wide variety of financial instruments allows risk‐averse traders to reduce their exposure to risk. This raises the question of what financial instruments allow ambiguity‐averse traders to reduce their exposure to ambiguity. We show in this paper that price‐contingent orders, such as limit orders, are sufficient: In a two‐period trading model,
Michael Greinecker, Christoph Kuzmics
wiley +1 more source
Evaluating Allocations of Opportunities
International Economic Review, Volume 67, Issue 1, Page 365-397, February 2026.ABSTRACT This paper provides a robust criterion for comparing lists of probability distributions—interpreted as allocations of opportunities—faced by different social groups. We axiomatically argue in favor of comparing those lists of probability distributions on the basis of a uniform—among groups—valuation of their expected utility.
Francesco Andreoli +3 more
wiley +1 more source
Measuring Inequality Without the Pigou-Dalton Condition [PDF]
income differentials, deprivation, satifaction, Lorenz dominance, progressive transfers, expected utility, generalized Gini ...
Chateauneuf, Alain, Moyes, Patrick
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Entropy coherent and entropy convex measures of risk [PDF]
, 2010 We introduce entropy coherent and entropy convex measures of risk and prove a collection of axiomatic characterization and duality results. We show in particular that entropy coherent and entropy convex measures of risk emerge as negative certainty ...
Laeven, RJA Roger +4 more
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Income Distributions and Decomposable Divergence Measures [PDF]
Inequality indices (i) evaluate the divergence between the income distribution and the hypothetical situation where all individuals have the mean income and (ii) are unambiguously reduced by a Pigou-Dalton progressive transfer.
Brice Magdalou, Richard Nock
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Statistical Entropy in General Equilibrium Theory [PDF]
This essay seeks to develop an integrated account of the workings of statistical mechanics and thermodynamics as a theory of economic equilibrium. It begins with a probabilistic description of general systems (made out of numerous elements), based on the
Panagis Liossatos
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Contributions to the understanding of Bayesian consistency. [PDF]
Consistency of Bayesian nonparametric procedures has been the focus of a considerable amount of research. Here we deal with strong consistency for Bayesian density estimation. An awkward consequence of inconsistency is pointed out. We investigate reasons
Antonio Lijoi +2 more
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On consistency of nonparametric normal mixtures for Bayesian density estimation. [PDF]
The past decade has seen a remarkable development in the area of Bayesian nonparametric inference both from a theoretical and applied perspective. As for the latter, the celebrated Dirichlet process has been successfully exploited within Bayesian mixture
Antonio Lijoi +2 more
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Comparing Multidimensional Indices of Inequality: methods and application [PDF]
The paper provides an examination into the measures of multidimensional inequality proposed in the past few years, their properties and majorization criteria.
Maria Ana Lugo
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