EllsbergEs two-color experiment, portfolio inertia and ambiguity

Article Abstract:

The relation between portfolio inertia and ambiguity is demonstrated using the Ellsberg paradox without the application of a parametric preference form; the terms portfolio inertia and ambiguity and their origins are explained. An observable difference is shown between portfolio inertia that arises due to first-order risk aversion type effects and portfolio inertia that deals with ambiguity perceptions.

Inertia (Mechanics), Ambiguity

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Market demand and comparative statics when goods are normal

Article Abstract:

The influence of the normality assumption on the framework of market demand and on general equilibrium comparative statics is studied. A new notion of comparative statics that is basically linked with normality is evolved, and its role and appearance in exchange, production and financial economies is examined.

Economies of scale, Comparative advantage (Commerce), Comparative advantage

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