Search results for "Mathematical Economics"

Robust nonparametric statistical methods. Thomas P. Hettmansperger and Joseph McKean, Arnold/Wiley, London/New York, 1998. No. of pages: xi+467. Pric…

1999

Reassessing Accuracy Rates of Median Decisions

2007

We show how Bruno de Finetti''s fundamental theorem of prevision has computable applications in statistical problems that involve only partial information. Specifically, we assess accuracy rates for median decision procedures used in the radiological diagnosis of asbestosis. Conditional exchangeability of individual radiologists'' diagnoses is recognized as more appropriate than independence which is commonly presumed. The FTP yields coherent bounds on probabilities of interest when available information is insufficient to determine a complete distribution. Further assertions that are natural to the problem motivate a partial ordering of conditional probabilities, extending the computation …

Analysis of resources distribution in economics based on entropy

2002

We propose a new approach to the problem of e0cient resources distribution in di1erent types of economic systems. We also propose to use entropy as an indicator of the e0ciency of resources distribution. Our approach is based on methods of statistical physics in which the states of economic systems are described in terms of the density functions � (g; � ) of the variable — — — — � �

Discussion of "Objective Priors: An Introduction for Frequentists" by M. Ghosh

2011

Discussion of "Objective Priors: An Introduction for Frequentists" by M. Ghosh [arXiv:1108.2120]

Modeling interactions between political parties and electors

2017

In this paper we extend some recent results on an operatorial approach to the description of alliances between political parties interacting among themselves and with a basin of electors. In particular, we propose and compare three different models, deducing the dynamics of their related {\em decision functions}, i.e. the attitude of each party to form or not an alliance. In the first model the interactions between each party and their electors are considered. We show that these interactions drive the decision functions towards certain asymptotic values depending on the electors only: this is the {\em perfect party}, which behaves following the electors' suggestions. The second model is an …

First results on applying a non-linear effect formalism to alliances between political parties and buy and sell dynamics

2016

We discuss a non linear extension of a model of alliances in politics, recently proposed by one of us. The model is constructed in terms of operators, describing the \emph{interest} of three parties to form, or not, some political alliance with the other parties. The time evolution of what we call \emph{the decision functions} is deduced by introducing a suitable hamiltonian, which describes the main effects of the interactions of the parties amongst themselves and with their \emph{environments}, {which are }generated by their electors and by people who still have no clear {idea }for which party to vote (or even if to vote). The hamiltonian contains some non-linear effects, which takes into…

How fair is an equitable distribution?

2006

Envy is a rather complex and irrational emotion. In general, it is very difficult to obtain a measure of this feeling, but in an economical context envy becomes an observable which can be measured. When various individuals compare their possessions, envy arises due to the inequality of their different allocations of commodities and different preferences. In this paper we show that an equitable distribution of goods does not guarantee a state of fairness between agents and in general that envy cannot be controlled by tuning the distribution of goods.

Damping in quantum love affairs

2011

In a series of recent papers we have used an operatorial technique to describe stock markets and, in a different context, {\em love affairs} and their time evolutions. The strategy proposed so far does not allow any dumping effect. In this short note we show how, within the same framework, a strictly non periodic or quasi-periodic effect can be introduced in the model by describing in some details a linear Alice-Bob love relation with damping.

A quantum statistical approach to simplified stock markets

2009

We use standard perturbation techniques originally formulated in quantum (statistical) mechanics in the analysis of a toy model of a stock market which is given in terms of bosonic operators. In particular we discuss the probability of transition from a given value of the {\em portfolio} of a certain trader to a different one. This computation can also be carried out using some kind of {\em Feynman graphs} adapted to the present context.

Approachability in Population Games

2014

This paper reframes approachability theory within the context of population games. Thus, whilst one player aims at driving her average payoff to a predefined set, her opponent is not malevolent but rather extracted randomly from a population of individuals with given distribution on actions. First, convergence conditions are revisited based on the common prior on the population distribution, and we define the notion of \emph{1st-moment approachability}. Second, we develop a model of two coupled partial differential equations (PDEs) in the spirit of mean-field game theory: one describing the best-response of every player given the population distribution (this is a \emph{Hamilton-Jacobi-Bell…