Preferences over location-scale family

Preferences over location-scale family

Preferences over Meyer’s Location-Scale Family

This paper extends Meyer’s (1987) location-scale family with general n random seed sources. Firstly, we clarify and generalize existing results to this multivariate setting. Some useful geometrical and topological properties of the location-scale expected utility functions are obtained. Secondly, we introduce and study some general non-expected utility functions defined over the location-scale ...

Stochastic dominance theory for location-scale family

Meyer (1987) extended the theory of mean-variance criterion to include the comparison among distributions that differ only by location and scale parameters and to include general utility functions with only convexity or concavity restrictions. In this paper, we make some comments on Meyer’s paper and extend the results from Tobin (1958) that the indifference curve is convex upwards for risk ave...

Location Preferences of Family Firms: Strategic Decision Making

Why do firms locate where they do? This question has puzzled researchers in economic geography, strategic planning, regional economics, and organizational behavior for over fifty years. Economists generally invoke least-cost concepts to explain location, reasoning that firms seek facilities with the lowest operating costs. Organizational theorists, by comparison, invoke structural contingency t...

From Preferences over Objects to Preferences over Concepts

We present an approach to preference modeling and learning preferences from data based on formal concept analysis. We consider techniques to derive preferences over attribute subsets from preferences over objects, including ceteris paribus preferences.