This paper integrates two key approaches to the representation of incomplete preferences over lotteries. The main result strengthens the conclusion of the expected multi-utility theorem in Dubra, Maccheroni, and Ok (2004) ...

The main objective of this article is to test the hypothesis that utility preferences that incorporate asymmetric reactions between gains and losses generate better results than the classic Von Neumann-Morgenstern utility ...

The main objective of this thesis is to test the hypothesis that utility preferences that incorporate asymmetric reactions between gains and losses generate better results, when applied to the Brazilian market, than the ...

In 1988 Dybvig introduced the payoff distribution pricing model (PDPM) as an alternative to the capital asset pricing model (CAPM).Under this newparadigm agents preferences depend on the probability distribution of the ...

Contaminação da confiança é um caso especial de incerteza Knightiana ou ambiguidade na qual o tomador de decisões está diante de não apenas uma única distribuição de probabilidades, mas sim de um conjunto de distribuições ...

In this paper, the Facility Location and Equipment Emplacement Technique model with Expected Covering (FLEET-EXC) model is introduced, an emergency facility location problem that maximizes the coverage of expected demand. ...

We study an intertemporal asset pricing model in which a representative consumer maximizes expected utility derived from both the ratio of his consumption to some reference level and this level itself. If the reference ...

As an extension of the VaR-constrained hedging, we propose a closed-form solution to the problem of optimizing portfolios, based on price and weather. For electric power companies, price and quantity are volatile, and in ...

Este trabalho investiga como os padrões de compras de consumidores de bens estocáveis são afetados por suas expectativas de preços. Usando um modelo dinâmico padrão de maximização da utilidade, deriva-se uma expressão ...