Approximating unanimity orderings: An application to Lorenz dominance

Stochastic dominance and Lorenz dominance are examples of orderings which require unanimous agreement among an infinite set of indices. This paper considers various subsets of inequality measures that respect Lorenz dominance, and assesses the extent to which a small number of indices can reproduce the Lorenz ordering. Using income data for 80 countries, our results suggest that Lorenz dominance can be predicted with 99% accuracy using just 3 or 4 inequality measures, as long as two of them focus on the extreme upper and lower tails of the distribution. In contrast, confining attention to the index families and parameter ranges normally considered may fail to detect the majority of occasions when Lorenz curves intersect. These results lead us to question the faith placed in procedures based on a finite set of inequality indices, and to suggest that similar lessons will apply to other types of unanimity orderings.     

基于胜任力结构的企业家才能分析

一、企业家才能的相关理论在西方经济学界,人们认为劳动、资本、土地、企业家才能四部分构成了生产要素,在这四种生产要素中企业家才能则是其灵魂性的要素。企业家才能是指企业领导的经营管理和创新能力,包括创新能力、合作精神、敬业精神、竞争意识、冒险精神、自信、判断能力     

论英美新批评理论中文本的突显

在西方传统诗学中,文本只是作为艺术的载体而具有工具性意义,其自身的本性是隐而不现的。英美新批评理论以文本的研究为中心,对传统文艺批评形态起到了颠覆性作用。文本的突显并不是文艺批评理论发展进程中的偶然现象。该文试图从西方美学发展的时代性及其特定的时代主题出发,探讨文艺批评理论中文本突显的必然性,以此来理解英美新批评理论的现代意义。     

改进会风和文风,中船集团公司召开视频会议通报2001年工作情况部署2002年工作要点——中船集团公司2001年几项主要生产经营指标取得重大突破

在这辞旧迎新,新世纪的第一年即将过去,新的一年就要到来之际,中船集团公司运用现代化信息技术手段——新近建成的数字化视频会议系统,召开了别开生面的一次工作会议。会议通过北京主会场和设在外地的几个分会场,向全集团通报了2001年工作情况,部署了2002年工作要点。这是该集团认真实践“三个代表”的要求,贯彻党的十五届六中全会关于精简会议和文件,改进会风和文风精神而采取的一个实际行动。     

Produktgarantien und Aktienkrise — Implikationen für die Kapitalanlagepolitik von Lebensversicherungsunternehmen

The present contribution analyzes the implications of two central factors influencing the asset allocation decision of (German) life insurance companies, the development of the equity market on one hand and the interest rate guarantees included in traditional life insurance products on the other. The adverse development of share prices in 2000–2002 implies the necessity to consider not only ?normal“ volatility but also worst case-developments for the purpose of risk control. Formally this is done by using the risk measures value-at-risk and conditional value-at-risk. The specific ?myopic“ nature of interest rate guarantees in German life insurance products, which are granted on a yearly basis implies — beyond the general control of the shortfall risk with respect to the guaranteed interest rates — the necessity to per-form the asset allocation on a yearly basis to be in conformity with the time horizon of the liabilities.On the basis of a quantitative approach corresponding model calculations are performed. Thereby not only a pure market valuation is considered but also institutional peculiarities (hidden reserves, accounting norms) of German life insurance companies. The possibility of a riskless one-year investment, either based on market values or on balance sheet values, is revealed to be crucial for giving interest rate guarantees on a yearly basis.