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On ordinal utility, cardinal utility, and random utility [PDF]
Though the Random Utility Model (RUM) was conceived entirely in terms of ordinal utility, the apparatus throughwhich it is widely practised exhibits properties of cardinal utility. The adoption of cardinal utility as a working operation of ordinal
A.J. Daly +26 more
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A major virtue of von Neumann-Morgenstern utilities, for example, in the theory of general financial equilibrium (GFE), is that they ensure time consistency: consumption-portfolio plans (for the future) are in fact executed (in the future) — assuming ...
David Cass
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Empirical research often requires a method how to convert a deterministic economic theory into an econometric model. A popular method is to add a random error term on the utility scale. This method, however, violates stochastic dominance.
Pavlo R. Blavatskyy
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We approach the problem of preference aggregation by endowing both individuals and coalitions with partially-ordered or incomplete cardinal preferences.
Lloyd S. Shapley, Manel Baucells
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Emissions of flue gas during pulverized combustion of coal and waste woody biomass [PDF]
In this paper results of research of co-firing coals from Middle Bosnian basin with waste woody biomass are presented. The research was conducted in the laboratory at the Faculty of Mechanical Engineering in Sarajevo.
Hodzic Nihad, Kazagic Anes, Kadic Kenan
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Satisfaction of housing and utility service employees with the quality and conditions of health care
Providing primary health care is one of the priority areas of healthcare due to importance of early detection, treatment and prevention of diseases.
G. Ya. Bendyuk +3 more
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In developing countries, which dominantly produce electricity by burning coal, energy transition represents a significant challenge. Short rotation coppice and dedicated energy crops could be a promising raw material for production of biofuel and its ...
A. Merzic +5 more
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Development of methodology for evaluation and real water loss reduction in water supply systems in transition countries [PDF]
Key strategy for water supply companies, aiming increasing their capacity and expanding the network, should be to focus on reducing water losses and non revenue water in general.
Orašanin Goran S. +3 more
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A comprehensive layered approach for implementing internet of things-enabled smart grid: A survey
The current power grid confronts severe challenges in satisfying customers' demands. Fast transition to the much more flexible power grid enriched with renewable energies, micro-grid, and distributed energy resources has been considered as a ...
Zahra Alavikia, Maryam Shabro
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‘Faced with inevitable collapse, leading scientists used some of the industrial world’s last remaining technological and energy resources to design and provide an AI bot for selected people on the planet.’’ The following short fiction story explores the
Junichi Satoh, Taylor Stahle
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