Results 111 to 120 of about 1,073,267 (191)
Online‐optimized RAG for tool use and function calling
Decision Sciences, EarlyView.Abstract In many applications, retrieval‐augmented generation (RAG) drives tool use and function calling by embedding the (user) queries and matching them to prespecified tool/function descriptions. In this article, we address an embedding misalignment issue that often arises in practical applications due to imperfect embedding models or noisy ...
Yu Pan, Xiaocheng Li, Hanzhao Wang
wiley +1 more source
Stochastic orderings, folded beta distributions and fairness in coin flips
This paper studies stochastic orderings for folded beta distributions. A necessary and sufficient condition for one folded beta random variable to be larger than another in likelihood ratio order is obtained.
Berenhaut, Kenneth S., Bergen, Lauren D.
core
The role of structural transformation in regional convergence in Japan: 1874–2008
The Economic History Review, EarlyView.Abstract Japan's regional convergence of productivity levels throughout the twentieth century can be best described as a cumulative process of ‘catching up, forging ahead, and falling behind’. Using a novel dataset spanning 135 years (1874–2008), this study finds support for a crucial role played by structural transformation in convergence. The pace of
Kyoji Fukao, Saumik Paul
wiley +1 more source
Measuring Bubbles via Put‐Call Disparity: A Model‐Free Approach
Financial Management, EarlyView.ABSTRACT This paper uses violations of put‐call parity to provide simple lower and upper bounds for measuring the size of asset price bubbles. Assuming only no‐arbitrage, this bubble detection approach avoids restrictive parametric model assumptions. We show that put‐call disparity provides a bubble's lower bound, and the lowest price of an out‐of‐the ...
Robert A. Jarrow, Simon S. Kwok
wiley +1 more source
When in Doubt, Tax More Progressively? Uncertainty and Progressive Income Taxation
International Economic Review, EarlyView.ABSTRACT We study the optimal income tax problem under parameter uncertainty about household preferences and wage dynamics. We derive conditions characterizing how such uncertainty affects optimal tax policy. To quantify the effect, we estimate a life‐cycle model using US data and a Bayesian approach.
Minsu Chang, Chunzan Wu
wiley +1 more source
Cross‐Prudence and Optimal Prevention
International Economic Review, EarlyView.ABSTRACT In this paper, we study optimal prevention in the presence of a correlated nonfinancial background risk. Under positive correlation, cross‐prudence in the nonfinancial attribute reduces optimal prevention. We establish this result in the most direct extension of the standard prevention problem with binary marginal distributions and show that ...
Jingyuan Li, Richard Peter, Lin Zhou
wiley +1 more source
Universal Social Orderings [PDF]
We propose the concept of a universal social ordering, defined on the set of pairs of an allocation and a preference profile of any finite population.
Koichi Tadenuma, Marc Fleurbaey
core
What Explains Growing Gender and Racial Education Gaps?
International Economic Review, EarlyView.ABSTRACT We study why US college graduation gaps by gender and race widened across cohorts. We develop a dynamic life‐cycle model with endogenous education, labor supply, marriage, fertility, and welfare participation. Preferences are fixed across cohorts and race/ethnic groups; changes arise from family background, labor‐market opportunities, and ...
Zvi Eckstein +2 more
wiley +1 more source
A Quantile Model of Firm Investment
International Economic Review, EarlyView.ABSTRACT Are firms risk averse? We propose a dynamic model of firm investment under uncertainty that captures firms' risk attitudes through quantile preferences. The firm maximizes its present value, defined as current profits and investment plus the discounted value of the τ$\tau$‐quantile of its value next period.
Heitor Almeida +3 more
wiley +1 more source
Gendered Effects of the Minimum Wage
International Economic Review, EarlyView.ABSTRACT Women work disproportionately in low‐hours jobs, which pay lower wages and are more exposed to minimum‐wage policies. We estimate an equilibrium search model with worker and firm heterogeneity, jobs differing in wages and hours, and imperfect compliance. Applied to Germany, the 8.50 € minimum wage reallocates women toward higher‐hours jobs and
Alessandro Di Nola, Haomin Wang
wiley +1 more source