A non-trivial, transitive and reflexive binary relation on the set of lotteries satisfying independence that also satisfies any two of the following three axioms satisfies the third: completeness, Archimedean and mixture continuity (Dubra (2011)). This paper generalizes Dubra’s result in two ways: First, by replacing independence with a weaker betweenness axiom. Second, by replacing independenc...

In this paper, we focus on studying the appearing time of different kinds of cars on the road. This information will enable us to infer the life style of the car owners. The results can further be used to guide marketing towards car owners. Conventionally, this kind of study is carried out by sending out questionnaires, which is limited in scale and diversity. To solve this problem, we propose ...

This paper evaluates the equity premium using novel data on the consumption of luxury goods. Specifying utility as a nonhomothetic function of both luxury and basic consumption goods, we derive pricing equations and evaluate the risk of holding equity. Household survey and national accounts data mostly reflect basic consumption, and therefore overstate the risk aversion necessary to match the o...

The luxury goods industry and holography have a lengthy history together. In this article, we review the applications of to relevant technical requirements, in particular when hologram itself is item, used promote items, for authentication items. We then explore some possible scenarios evolution relationship.

The Maschler–Owen consistent value for non-transferable utility games is axiomatized, by means of a marginality axiom. JEL Classification: C7, D7

Let f be a diffeomorphism of a closed C∞ manifold M . In this paper, we introduce the notion of the C1-stable specification property for a closed f -invariant set Λ of M , and we prove that f|Λ satisfies a C 1-stable specification property if and only if Λ is a hyperbolic elementary set. As a corollary, the C1-interior of the set of diffeomorphisms of M satisfying the specification property is ...