منابع مشابه
Diminishing Marginal Utility of Income? Caveat Emptor
[T]he income and happiness relationship is . . . curvilinear . . . with a decreasing marginal utility for higher levels of income . . . . (Diener, Sandvik, Seidlitz, and Diener, 1993, 204; cf. also Diener and Biswas-Diener, 2002, 119) [W]e not only see a clear positive relationship [between happiness and GNP per capita], but also a curvilinear pattern; which suggest that wealth is subject to a ...
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Fixed-path methods (FPMs) were introduced to manage situations where several individuals jointly operate a single technology (see [4]). In the production context, they consist in allocating marginal increments of output according to a proportions vector which changes along an arbitrary path. While very appealing from an incentives viewpoint under diminishing marginal returns, the asymmetry of t...
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This study argues that diminishing marginal impatience (DMI ) as an intuitively plausible behavioural assumption of endogenous time preference has the potential for resolving important issues like the equity premium puzzle. It shows that, while applied to a model in the traditional overlapping generations (OG) framework, DMI is capable of generating assets prices with magnitude and volatility h...
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Communities along the USA coast are highly vulnerable to coastal storms. Trends in population growth, climatic events and land use are likely to exacerbate future damages. Coastal management entities are faced with decisions about how to manage resources in a manner that improves environmental quality and provides the maximum benefit for coastal populations. This is particularly true along the ...
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We consider a multiagent resource allocation domain where the marginal production of each resource is diminishing. A set of identical, self-interested agents requires access to sharable resources in the domain. We present a distributed and random allocation procedure, and demonstrate that the allocation converges to the optimal in terms of utilitarian social welfare. The procedure is based on d...
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ژورنال
عنوان ژورنال: International Journal of Tax Economics and Management
سال: 2018
ISSN: 2618-1118,2618-110X
DOI: 10.35935/tax/22.4735