A Note on Mixture Sets in Decision Theory


Decisions in Economics and Finance

2001, vol. 24, pp.59-69

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

An operator approach to stochastic games


Israël Journal of Mathematics

2001, n°121, pp.221-246

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

Bargaining on an Internet Agent-based Market: Behavioral vs. Optimizing Agents, Electronic Commerce Research Journal

C. PARASCHIV, L. Devveaux, M. Latourrette

Electronic Commerce Research and Applications

octobre 2001, vol. 1, n°4, pp.371-401

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

Continua of Underemployment Equilibria Reflecting Coordination Failures, Also at Walrasian Prices

H. CRES, A. CITANNA, A. Villanacci, J. Drèze, J. Herings, H. Crès

Journal of Mathematical Economics

2001, n°36, pp.169-200

Départements : Finance, Economie et Sciences de la décision

Mots clés : General equilibrium, Underemployment, Coordination failures, Indeterminacy

In this paper, the existence of unemployment is partly explained as being the result of coordination failures. It is shown that as a result of self-fulfilling pessimistic expectations, even at Walrasian prices, a continuum of equilibria results, among which an equilibrium with approximately no trade and a Walrasian equilibrium. These coordination failures also arise at other price systems, but then unemployment is the result of both a wrong price system and coordination failures. Some properties of the set of equilibria are analyzed. Generically, there exists a continuum of non-indifferent equilibrium allocations. Under a condition implied by gross substitutability, there exists a continuum of equilibrium allocations in the neighborhood of a competitive allocation, when prices are Walrasian. For a specialized economy, a dynamic illustration is offered

Cumulative Discrete Choice

I. GILBOA, A. Pazgal

Marketing Letters

2001, vol. 12, pp.119-130

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

Multiple factor analysis combined with PLS path modelling. Application to the analysis of relatioships between physicochemical variables, sensory profiles and hedonic judgements


Chemometrics and Intelligent Laboratory Systems

28 octobre 2001, vol. 58, n°2, pp.261-273

Départements : Economie et Sciences de la décision

On S-convexity and risk aversion

M. Denuit, C. Lefèvre, M. SCARSINI

Theory and Decision

2001, vol. 50, n°1, pp.239-248

Départements : Economie et Sciences de la décision

The present note first discusses the concept of s-convex pain functions in decision theory. Then, the economic behavior of an agent with such a pain function is represented through the comparison of some recursive lotteries

PLS Path modelling and multiple table analysis. Application to the cosmetic habits of women in Ile-de-France

J. Latreille, M. TENENHAUS, C. Guinot

Chemometrics and Intelligent Laboratory Systems

28 octobre 2001, vol. 58, n°2, pp.247-259

Départements : Economie et Sciences de la décision

Special Issue: PLS Methods

Probability Logic for Type Spaces

A. Heifetz, P. MONGIN

Games and Economic Behavior

2001, vol. 35, pp.31-53

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

Using a formal propositional language with operators "individual i assigns probability at least alpha" for countably many alpha, we devise an axiom system which is sound and complete with respect to the class of type spaces in the sense of Harsanyi (1967-1968, Management Science, 14, 159-182). A crucial inference rule requires that degrees of belief be compatible for any two sets of assertions which are equivalent in a suitably defined natural sense. The completeness proof relies on a theorem of the alternative from convex analysis, and uses the method of filtration by finite sub-languages

Profitable Advice: The Value of Information Provided by Canadas Inventors Assistance Program

T. B. ASTEBRO, Y. Gerchak

Economics of Innovation and New Technology

2001, vol. 10, n°1, pp.45-72

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

Mots clés : Value of information, Inventors, Social benefit, Inventor's assistance program

Inventors who are considering whether and how to commercialize their inventions. can often avail themselves to evaluations and advice provided by government supported programs initiated to encourage innovation. In Canada. such a service is provided by the Canadian Innovation Centre. through its Inventor's Assistance Program. In its twenty years of operations the IAP has evaluated 11,000 inventions. The fee charged for an invention evaluation was Cdn. $262 in 1995, and these fees covered about half the program's expenses. We compute the expected value of the information the IAP's evaluation provides under different assumptions and scenarios. Under plausible conditions, the value of the information to the inventor is found to be higher than both the fee and the social cost of the program. The implications of some inventors not following the advice given to them by the IAP are briefly explored.