We develop an alternative approach to the general equilibrium analysis of a stochastic production economy when firms' choices of investment influence the probability distributions of their output.

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WHEN Denmark was overrun by the Germans various British subjects were caught, Mr. among them. He was interned in a camp under Danish control and spent part of his enforced leisure in coin-tossing ...

Life is uncertain. None of us know what is going to happen. We know little of what has happened in the past or is happening now outside our immediate experience. Uncertainty has been called the ...

This is a preview. Log in through your library . Publisher Information The purpose of the Institute of Mathematical Statistics (IMS) is to foster the development and dissemination of the theory and ...

“One of the basic axioms of the rational theory of decision under uncertainty is Savage’s (1954) sure-thing principle (STP). It states that if prospect x is preferred to y knowing that Event A ...

Roth, A. E., and F. Schoumaker. "Subjective Probability and the Theory of Games: Some Further Comment." Management Science 29, no. 11 (November 1983): 1337–1340.

ThatWare LLP, a globally recognized AI-powered digital marketing and search intelligence company, continues to push the ...