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.
Publication Name: The Journal of Mathematical Economics
Subject: Mathematics
ISSN: 0304-4068
Year: 2003
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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.
Publication Name: The Journal of Mathematical Economics
Subject: Mathematics
ISSN: 0304-4068
Year: 2003
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