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Dry economics informs juicy tale of murder
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Economists, often defamed as tedium incarnate, have a secret capacity
for adventure, judging from A Deadly Indifference, a murder mystery
by Marshall Jevons (Princeton University Press, $12.95).
Henry Spearman, a diminutive and slightly priggish Harvard
economist, is the sleuth in this tale of treachery at a shrine of
modern economics, Prof. Alfred Marshall's home in Cambridge, England.
Teaching at the turn of the century, Marshall helped mold the ideas
of John Maynard Keynes, archpries...
Related newspaper, magazine, and journal articles from HighBeam Research
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(book reviews)
Journal of Risk and Insurance
; This paper defines conditions for increasing risk when the utility functions of risk-averse investors are characterized by decreasing absolute risk aversion (DARA). Rothschild and Stiglitz (Journal of Economic Theory, 1970, 2: 225-243, and 1971, 3: 66-84) define cases when a random variable Y is
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Coping with Risk in Agriculture.(Review)
American Journal of Agricultural Economics
; Hardeker, J. Brian, Ruud B.M. Huirne, and Jock R. Anderson. Oxon UK and New York: CAB International, 1997, price unknown. Whereas textbooks in production and microeconomics provide the theory of choice under uncertainty, Coping with Risk in Agriculture provides users with practical guidance on
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Happiness is tough stuff to measure Economist offers top 10 reasons why we feel bad when we have it good
The Milwaukee Journal Sentinel
; ... lot of people died in World War II. "Good news makes us uncomfortable." "Seeing a `Have ... sticker irritates us," he said. "We feel good news harbors an impending payback." "Inflation ... profiteering." "Nothing sells like bad news," he pointed out. Proportionately more ...
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Utility maximization, morality, and religion.
Journal of Economic Issues
; One of the most important foundation stones for neoclassical economics is utility maximization theory. This theory assumes that all choices are made to maximize the chooser's utility, happiness, or pleasure. The theory can be expanded by explaining that what maximizes a chooser's utility,
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Samuelson's fallacy of large numbers and optional stopping.(when quitting when you're ahead is a good idea)
Journal of Risk and Insurance
; ABSTRACT Accepting a sequence of independent positive mean bets that are individually unacceptable is what Samuelson called a fallacy of large numbers. Recently, utility functions were characterized where this occurs rationally, and examples were given of utility functions where any finite number
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Thermometer. (Show Products).(Advertisement)
Quality
; The Chub-E4 Thermometer Readout includes four channels for reading thermocouples, platinum resistance thermometers or thermistors. The LCD displays the current temperature from the four inputs. Select eight data fields to view on-screen, including statistical functions, probe information, T1-T2
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Quantile Plots, Partial Orders, and Financial Risk.
The American Statistician
; Quantile-quantile plots are most commonly used to compare the shapes of distributions, but they may also be used in conjunction with partial orders on distributions to compare the level and dispersion of distributions that have different shapes. We discuss several easily recognized patterns in
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Measuring and Incorporating Farmers' Personal Beliefs and Preferences about Uncertain Events in Decision Analysis: A Stochastic Programming Experiment
Indian Journal of Agricultural Economics
; I INTRODUCTION The existence and importance of risk in agricultural production is well recognised. Farmers are confronted by important stochastic variations in both the prices and yields of their products as well as a range of other risks. These uncertainties add complexity to their
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Exploring Economic Models Using Excel.
Southern Economic Journal
; ... 3-D) surface charts as well as the topographical or contour maps associated with 3-D functions. [9] Excel's Data/Table command ... attitudes or situations that utility functions (and the indifference maps they generate) each describe. An interesting exercise might include ...
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Consumption externalities and economic welfare
Eastern Economic Journal
; INTRODUCTION In a market economy, almost every action undertaken by an individual or business firm will either directly or indirectly affect the welfare of other nonconsenting parties. These third-party effects, generally called externalities, often serve as a call for corrective action by the
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