A family of measures of uncertainty involving utilities: Definition,properties, applications and statistical inferences

Consider an experiment involving the observation of a discrete random variable, or quantitative classification process. When, in addition to the probability of each value or class we know its “utility” (or, more precisely, we can quantify the “nature” of each value or class), the “uncertainty corresponding to the utilities” may be evaluated. In this paper, we are first going to introduce a family of Measures of Uncertainty involving Utilities and several properties of this family are studied. Then, some immediate applications are discussed: the definition of criteria for Comparing Experiments in Statistical Decision problems, and the quantification of the Inequality with respect to an economical attribute or the Industrial Concentration. Finally, we will analyze the asymptotic behaviour of the measures in simple random sampling, and some related problems. This work was partially supported by the Comisión Asesora de Investigación Científica Técnica (CAICYT) under the contract PB85-0401.     

A practical log‐linear aggregation method with examples: heterogeneous income growth in the USA

A practical aggregation method for heterogeneous log‐linear functions is presented. Inequality measures are employed in the construction of a simple but exact aggregate representation of an economy. Three macroeconomic applications are discussed: the aggregation of the Lucas supply function, the time‐inconsistent behaviour of an egalitarian social planner facing heterogeneous discount rates, and the case of a simple heterogeneous growth model. In the latter application, aggregate CPS data is used to show that the slowdown that followed the first oil shock is worse than usually thought, and that the ‘new economy’ growth resurgence is not as strong as it appears.

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Pareto-improving income redistribution: expanding consumer access to the vaccines market

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How Functional is the Eurozone? An Index of European Economic Integration Through the Single Currency

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How mass layoffs are related to lower job performance and OCB among surviving employees in Chile: an investigation of the essential role of psychological contract

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Does IFRS Mandatory Adoption Affect Information Asymmetry in the Stock Market?

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Infrastructures, incentives, and institutions: Fostering distributed knowledge bases for the learning society

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Bargaining regimes and wages in Portugal

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Development and Psychometric Analysis of an Instrument to Measure the Reasons that Oncological Patients give when Participating in a Psychological Intervention

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