A group decision device: its Pareto-like optimality

Article Abstract:

Group decision making is analyzed by economic theorists in terms of the utility function. The group chooses from many possible acts to satisfy a particular goal. Each individual utility function in the group is laid out on a matrix, where it is paired and interacts with others according to a mutually satisfying arrangement referred to as 'redistribution of wealth' or 'cash exchange.' The end result is a Pareto-like optimized group utility function.

Decision-making, Group, Group decision making

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Generic non-existence of equilibria in finance models

Article Abstract:

Financial models commonly use stochastic processes such as log normal in the description of securities prices. It is observed that Walrasian equilibria do not generally exist in generic terms in those models. The utility function, whose derivative is commonly required to be infinite at zero to ensure quasi interior solutions, is an essential feature of these models. This function is instrumental in the derivation of the usual asset pricing models.

Finance, Stochastic processes, Equilibrium (Economics)

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Restricting independence to convex cones

Article Abstract:

Convex cones are examined from an abstract perspective, where independence is restricted.

Uncertainty

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