Invariance of the efficient set: comment

Article Abstract:

The congruence of the efficient subset generated by the class of generalized expected utility functionals which preserve risk-aversion with the efficient subset of a smaller class of concave expected utility functionals is part of a much more general principle. The maximal preference concept has applications for problems such as portfolio choice and project evaluation. The case of general preference functionals relate to the extension of expected utility functionals.

Risk assessment, Distribution (Economics)

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Some observations on insurance, bankruptcy and input demand

Article Abstract:

Insurance encourages risk-taking and generally reduces the use of production inputs. A two-state model analysis of the effects of insurance on input demand in the crop industry shows that insurance leads to a decrease in use of risk-reducing inputs such as pesticides and risk-constant inputs, an increase in use of strongly risk-increasing inputs, and ambiguous effects for weakly risk-increasing inputs. Bankruptcy is also regarded as a form of insurance.

General farms, primarily crop, Research, Insurance, Risk (Economics), Bankruptcy, Input-output analysis

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The meeting place problem: salience and search

Article Abstract:

A stylized model was formulated to address the meeting-place problem of locating a partner without a pre-agreed meeting place. The approach used permits the designation of an expected value for picking a salient point and contradict it with a situation where players are considering to participate in active search. Such process emphasizes the importance of considering a strategy of active search when dealing with the meeting-place problem.

Meeting Dynamics, Models, Economic aspects, Meetings, Game theory, Search theory

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