The measurement perspective on decision usefulness implies greater usage of fair values in the financial statements proper. Following from our discussion in Section 2.5.1, greater use of fair values suggests a balance sheet approach to financial reporting, as opposed to the income statement approach which underlies the research described in Chapter 5. This, in turn, implies a larger role for th...

The financial life often requires the calculation of some sort of expectations: expected utility, expected payoffs, expected losses, which are expressed as certain transforms of some random variables. We shall provide a method, based on the copula concept, to calculate the probabilities that these transforms belong to a certain neighbourhood of their expected values. First, we recall briefly th...

This paper contains an extension of the identification method proposed in Jun, Pinkse, and Xu (2009, JPX), which is based on a generated collection of sets, i.e. a Dynkin system. We demonstrate the usefulness of this extension in the context of the model proposed by Vytlacil and Yıldız (2007, VY). VY formulate a fully nonparametric model featuring a nested weakly separable structure in which an...

Internet access services based on cellular technology have grown significantly over the years. Regarding total number of users, Brazil does not have global stand-out participation yet. However, recent data reveals significant growth in the adoption of those services in Brazil. This study intends to assess the relative influence of the relevant factors that affect the adoption of mobile Internet...

This paper addresses the problem of dynamic asset allocation under a bounded shortfall risk in a market composed of three assets: cash, stocks and a zero coupon bond. The dynamics of the instantaneous short rates is driven by a Hull and White model. In this setting, we determine and compare optimal investment strategies maximizing the CRRA utility of terminal wealth with and without value at ri...

A cost-sharing mechanism defines how to share the cost of a service among serviced customers. It solicits bids from potential customers and selects a subset of customers to serve and a price to charge each of them. The mechanism is group-strategyproof if no subset of customers can gain by lying about their values. There is a rich literature that designs group-strategyproof cost-sharing mechanis...

Three attributes of online courses were described in the article: the communication, the structure and the organization, which values characterize every course. All acceptable values of these parameters where outlined as well as a usefulness of this taxonomy for classification of vocational courses was examined.

Interval uncertainty affects our decision making activities on a daily basis making the data structure of intervals of real numbers more and more popular in theoretical models and related software applications. To model economic and OR situations with interval data as cooperative interval games is often an easy task. To handle cooperative interval games various solution concepts of selection-ty...

Kotonush, a system that clarifies people’s values on various concepts on the basis of what they write about on social media, is presented. The values are represented by ordering sets of concepts (e.g., London, Berlin, and Rome) in accordance with a common attribute intensity expressed by an adjective (e.g., entertaining). We exploit social media text written by different demographics and at dif...

We propose a mechanism for auctioning bundles of multiple divisible goods in a network where buyers want the same amount of bandwidth on each link in their route. Buyers can specify multiple routes (corresponding to a source–destination pair). The total flow can then be split among thesemultiple routes. We first propose a one-sided VCG-type mechanism. Players do not report a full valuation func...