We present an equilibrium model where the demand side of market determines strategic incentives firms when considering introduction technologically superior products (TSPs) and subsequent dynamic evolution configuration. Market is built on conventional features defining behavior decision-makers (DMs), who are required to acquire information sequentially about characteristics describing products...

In this paper, a generic method based on fuzzy aggregation operator for multi-criterion decision-making problems in design additive manufacturing is proposed. Firstly, power weighted Maclaurin symmetric mean Hamacher T-norm and T-conorm constructed via combination of numbers, average operator, weights, operational rules numbers T-conorm. Based the solving then developed. After that, an example ...

We prove that under mild conditions individually rational Pareto optima will exist even in presence of non-convex preferences. We consider decision makers dealing with a countable flow of payoffs or choosing among financial assets whose outcomes depend on the realization of a countable set of states of the world. Our conditions for the existence of Pareto optima can be interpreted as a requirem...

A new non-parametric method to estimate a decision maker's coefficient of absolute risk aversion from observed economic behaviour is explained. The method uses the expected value-variance (E-V) framework and quadratic programming. An empirical illustration is given using Norwegian farm-level data. © 2002 Elsevier Science B.V. All rights reserved. JEL classification: Q12; D81

We propose a new class of aggregation operator based on utility function and apply them to group decision-making problem. First of all, based on an optimal deviation model, a new operator called the interval generalized ordered weighted utility multiple averaging (IGOWUMA) operator is proposed, it incorporates the risk attitude of decision-makers (DMs) in the aggregation process. Some desirable...

This paper examines Chinese students’ risk attitude using buying and selling experiments with lotteries. We found that subjects were more risk averse in the buying experiment than in the selling experiment, suggesting the endowment effect. In the selling experiment, subjects were risk loving when there was a low win probability and risk averse with a high win probability, whereas they were risk...

It is well known that a traditional data envelopment analysis (DEA) cross-efficiency evaluation model assumes the decision-makers are completely rational, which causes results to be inconsistent with actual situation. To remedy this, in this paper, we propose an improved DEA prospect method called EPCE model. The captures risk attitude of and retains decision information process. In particular,...

Two central concerns in the sustainability debate are the weight given to the needs of future generations and the application of the precautionary principle. In an economic model, these aspects of intertemporal evaluation can be mapped into time preference and intertemporal risk aversion. The current analysis points out a close link between these different aspects of intertemporal evaluation fr...

Recent literature emphasizes the role that testosterone, as well as markers indicating early exposure to T and its organizing effect on the brain (such as the ratio of second to fourth finger, [Formula: see text]), have on performance in financial markets. These results may suggest that the main effect of T, either circulating or in fetal exposure, on economic behavior occurs through the increa...