Consistent estimation of a limiting covariance matrix

Article Abstract:

A limiting covariance matrix estimator is considered. The estimator is consistent and positive semi-definite, ensuring the estimated variances to be non-negative. Generation of hypothesis tests and construction of asymptotic confidence levels depend on the presence of consistent estimation of the limiting covariance matrix.

Research, Estimation theory, Analysis of covariance, Covariance analysis

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Risk Aversion for State Dependent Utility Functions: Measurement and Applications

Article Abstract:

Measures of risk aversion are developed which permit partial ordering of state-dependent utility functions according to their aversions for risk. These measures are useful in analyzing optimal risk sharing problems. A generalization of the existing theory is accomplished.

Measurement, Risk (Economics)

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