نتایج جستجو برای: averse low
تعداد نتایج: 1204312 فیلتر نتایج به سال:
We introduce a novel group elevator scheduler based on an explicit decision-theoretic calculation for the expectation of any polynomial function of passengers’ waiting times, marginalized over sources of uncertainty in the system state. The same framework can be used to identify risky assignments that have low expected costs but may cause some individuals to be ”stranded” with excessive waits f...
We present a theoretical model to analyze the effects of two higher education loan schemes on individual schooling decisions, in a world where graduate earnings are stochastic. The paper is structured in two parts. The first part is static, we assume a single lifetime shock on graduate incomes and we compare the individual expected utilities under a mortgage loan (ML) and an income contingent l...
Is corporate control effective when managers face investment timing decisions in incomplete markets?
This paper presents a model of investment timing by risk averse managers facing incomplete markets and corporate control. Managers are exposed to idiosyncratic risks due to the dependence of their compensation on investment payoffs which are not spanned by other assets. We show that risk averse managers invest earlier than welldiversified shareholders would prefer, leading to significant agency...
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