Search results for "UTILITY"
showing 10 items of 116 documents
Gender discrimination and intergenerational transmission of preferences
2004
This paper provides an explanation for the existence of gender discrimination in the labour market focusing on the intergenerational transmission of preferences related to the attitude of women towards jobs and family. Changes in women's preferences over generations depend on the socialization efforts of their parents which in turn are influenced by both the firm's expected recruitment policy and the expected utility from household care. We obtain two types of steady state equilibria: the discriminatory equilibrium, in which women are segregated to low-paid jobs, and the non-discriminatory equilibrium, in which women are hired in highly-paid jobs. The conditions of convergence to each equil…
Il “blocco” dei licenziamenti: profili storici e sistematici
2020
Il saggio analizza le recenti disposizioni di legge che hanno introdotto il blocco temporaneo dei licenziamenti economici come misura congiunturale per fronteggiare l’emergenza pandemica. Nella prima parte l’articolo ricostruisce le analoghe misure vigenti in Italia nell’immediato do-poguerra; nella seconda sostiene come il blocco sia conforme al principio di ragionevolezza, in quanto tutela il diritto fondamentale al lavoro senza ……..compromettere totalmente la libera iniziativa economica privata, in quanto accompagnato da misure di vario genere a favore delle imprese (sgravi fiscali, sospensione di pagamenti…). The essay analyses the recent legislative measures introducing the block of ec…
Long-term health-related quality of life of breast cancer survivors remains impaired compared to the age-matched general population especially in you…
2021
Objective To investigate long-term health-related quality of life (HRQoL) changes over time in younger compared to older disease-free breast cancer survivors who participated in a prospective randomized exercise trial. Methods Survivors (aged 35–68 years) were randomized to a 12-month exercise trial after adjuvant treatment and followed up for ten years. HRQoL was assessed with the generic 15D instrument during follow-up and the younger (baseline age ≤ 50) and older (age >50) survivors’ HRQoL was compared to that of the age-matched general female population (n = 892). The analysis included 342 survivors. Results The decline of HRQoL compared to the population was steeper and recovery slower…
Reliability and validity of the Finnish version of the prosthesis evaluation questionnaire
2018
Background: Thus far there have been no specific patient-reported outcome instrument in Finnish for health-related quality of life (HRQoL) assessment after major lower extremity amputation and successful prosthesis fitting. Methods: The prosthesis evaluation questionnaire (PEQ) was translated and cross-culturally adapted into Finnish. Participants completed a questionnaire package including the Finnish version of the PEQ and the 15 D HRQoL instrument. Scales (n = 10) were tested for internal consistency, floor-ceiling effect, and reproducibility for which participants completed the PEQ twice within a 2-week interval. Validity was tested by estimating the correlation between the 15 D index a…
Does Promoting Homeownership Always Damage Labour Market Performances?
2018
In this paper we analyse the link between homeownership and various aggregate and individual labour market outcomes. Our aim is to investigate the likely consequences of public policies that promote homeownership. To this end, we develop a circular firm-worker matching model with Nash-bargained wage setting and free market entry. Homeowners are assumed to be less mobile than tenants and to bear higher mobility costs. Our numerical exercises show that tenants usually have lower unemployment rates and lower wage rates than homeowners. Importantly, workersʼ performances do not necessarily improve following an increase in the proportion of homeowners. The latter crucially depends on the relativ…
Dynamic Coalitional TU Games: Distributed Bargaining among Players' Neighbors
2013
We consider a sequence of transferable utility (TU) games where, at each time, the characteristic function is a random vector with realizations restricted to some set of values. The game differs from other ones in the literature on dynamic, stochastic or interval valued TU games as it combines dynamics of the game with an allocation protocol for the players that dynamically interact with each other. The protocol is an iterative and decentralized algorithm that offers a paradigmatic mathematical description of negotiation and bargaining processes. The first part of the paper contributes to the definition of a robust (coalitional) TU game and the development of a distributed bargaining protoc…
Continuous-time portfolio optimization under terminal wealth constraints
1995
Typically portfolio analysis is based on the expected utility or the mean-variance approach. Although the expected utility approach is the more general one, practitioners still appreciate the mean-variance approach. We give a common framework including both types of selection criteria as special cases by considering portfolio problems with terminal wealth constraints. Moreover, we propose a solution method for such constrained problems.
Optimal control of option portfolios and applications
1999
We present an expected utility maximisation framework for optimally controlling a portfolio of options. By combining the replication approach to option pricing with ideas of the martingale approach to (stock) portfolio optimisation we arrive at an explicit solution of the option portfolio problem. Its characteristics are illustrated by some specific examples. As an application, we calculate an optimal option and consumption strategy for an investor who is obliged to hold a stock position until the time horizon.
Modelling agricultural risk in a large scale positive mathematical programming model
2020
International audience; Mathematical programming has been extensively used to account for risk in farmers' decision making. The recent development of the positive mathematical programming (PMP) has renewed the need to incorporate risk in a more robust and flexible way. Most of the existing PMP-risk models have been tested at farm-type level and for a very limited sample of farms. This paper presents and tests a novel methodology for modelling risk at individual farm level in a large scale model, called individual farm model for common agricultural policy analysis (IFM-CAP). Results show a clear trade-off between including and excluding the risk specification. Albeit both alternatives provid…
Solving the Discrete Multiple Criteria Problem using Convex Cones
1984
An interactive method employing pairwise comparisons of attainable solutions is developed for solving the discrete, deterministic multiple criteria problem assuming a single decision maker who has an implicit quasi-concave increasing utility (or value) function. The method chooses an arbitrary set of positive multipliers to generate a proxy composite linear objective function which is then maximized over the set of solutions. The maximizing solution is compared with several solutions using pairwise judgments asked of the decision maker. Responses are used to eliminate alternatives using convex cones based on expressed preferences, and then a new set of weights is found that satisfies the i…