Relative utilitarianism

Article Abstract:

An axiom system called 'Relative Utilitarianism' is composed of weakened versions of Arrow's axioms. The axiom system initially involves normalization of individual von Neumann-Morgenstern utilities between zero and one followed by summation of such functions as social utility. The axiom system was found to possess a distinct solution when assessed under a framework of preferences over lotteries. Remnants of monotonicity axiom, IRA axioms and a continuity axiom were observed after substantial weakening of the independence of irrelevant alternatives was attained.

Econometrics & Model Building, Analysis, Welfare, Public assistance, Business models, Axiomatic set theory, Axioms

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Inference-without-smoothing in the presence of nonparametric autocorrelation

Article Abstract:

Conditions were proposed that will allow consistent estimation of f(O) without having to resort to smoothing. Such conditions were proven vital to slope parameters inference in models with an intercept and strictly exogenous regressors. They permit regressors and disturbances to collectively possess substantial stationary long memory and to effectively fulfill mild moment conditions.

Research and Development in the Physical, Engineering, and Life Sciences, Statistics, Autocorrelation (Statistics), Statistics (Mathematics), Smoothing (Statistics)

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