This paper presents a study on the optimization problem of consumer’s choice constrained to single time interval. In this problem, is made over set perishable goods such that they do not retain value at end period. Money has been introduced as only means available store for future. Thus, consumer utility measured possible combinations consumed during period and money held Additionally, simple c...

Let be a stationary sequence of pair wise negative quadrant dependent random variables with survival function {,1}nXn?F(x)=P[X>x]. The empirical survival function ()nFx based on 12,,...,nXXX is proposed as an estimator for ()nFx. Strong consistency and point wise as well as uniform of ()nFx are discussed

In this paper, the estimation of a scale parameter t under a new and bounded loss function, based on a reflection of the gamma density function, is discussed. The best scale-invariant estimator of tis obtained and the admissibility of all linear functions of the sufficient statistic, for estimating t in the absence of a nuisance parameter, is investigated

This paper presents moments and cross-moments of utility functions and measures of utility dependence. We start with an interpretation of the nth moment of a utility function, and describe methods for its assessment in practice and consistency checks that need to be satisfied for any assessed moments. We then show how moments of a utility function (i) provide a new method to determine the param...

In this paper the Portfolio Choice problem is studied under ambiguity, formalized by means of the Choquet Expected Utility. Agents are supposed to be Choquet Expected Utility maximizers and are split into two categories: optimists, who hold a concave capacity, and pessimists, who hold a convex one. Portfolio inertia is defined and analyzed. Necessary and sufficient conditions are established be...

Suppose that a policyholder faces $n$ risks X1, ..., Xn which are insured under the policy limit with the total limit of l. Usually, the policyholder is asked to protect each Xi with an arbitrary limit of li such that ∑ni=1li=l. If the risks are independent and identically distributed with log-concave cumulative distribution function, using the notions of majorization and stochastic orderings, ...

This paper develops a two-stage model to consider a franchise/franchisee environment in which supply chains are simultaneously entering the untapped market to produce either identical or highly substitutable products and give franchise to franchisees. Customer demand is elastic, price dependent and customer utility function is based on Huff gravity rule model. The supply chains, in the first st...