Click on a term to reduce result list
The result list below will be reduced to the selected search terms. The terms are generated from the titles, abstracts and STW thesaurus of publications by the respective author.
128 records from EconBiz based on author Name
1. Closing the Invisible Hand : A Rehabilitation of Tatonnement Dynamics
abstractArguments are made that, for a typical economy, with many goods and consumers, classical tatonnement dynamics results in a globally stable equilibrium. Since global stability implies uniqueness of equilibrium, these kinds of results complete the positive general equilibrium program classically put forward in favor of the invisible hand. Such stability is demonstrated for economies with consumers having preferences drawn from the $CES$ family, and similar results are reported when the preferences are chosen, instead, to be of the indirect addilog form
Keenan, Donald C.; Kim, Taewon;2023
Availability: Link Link
2. Reversibly greater downside risk aversion
Keenan, Donald C.; Snow, Arthur;2022
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
Link Citations: 1 (based on OpenCitations)
3. Closing the invisible hand : a rehabilitation of tâtonnement dynamics
Keenan, Donald C.; Kim, Taewon;2022
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
Link Citations: 1 (based on OpenCitations)
4. Reversibly greater downside risk aversion by a prudence-based measure
Keenan, Donald C.; Snow, Arthur;2022
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link
Citations: 1 (based on OpenCitations)
5. The Role of Normal Goods in Global Stability
abstractIt is argued that results for global stability of classical tatonnement dynamics do not depend on goods being normal
Keenan, Donald C.; Kim, Taewon;2021
Availability: Link Link
6. Closing the Invisible Hand : A Rehabilitation of Tatonnement Dynamics
abstractArguments are made that, for a typical economy, with many goods and consumers, classical tatonnement dynamics results in a unique, globally stable equilibrium
Keenan, Donald C.;2021
Availability: Link Link
Citations: 1 (based on OpenCitations)
7. Spatial dependence in subprime mortgage defaults
Heinen, Andréas; Kau, James B.; Keenan, Donald C.; Kim, Mi Lim;2021
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
Link Citations: 5 (based on OpenCitations)
8. Reversibly Greater Downside Risk Aversion
abstractAn intrinsic, but seldom recognized property of greater risk aversion in expected utility theory is its reversibility, viz., utility v=phi(u) is more risk averse than u if and only if the transformation function phi is concave, while equivalently, u=psi(v) is less risk averse than v if and only if psi is convex. Moreover, this reversibility is exactly mirrored in the ranking of utility functions by their Arrow-Pratt measures, which ensures that the rankings are transitive and so capable of yielding meaningful comparative statics predictions for greater and less risk aversion. We extend this reversibility property to the third order concerned with downside risk aversion by deriving a utility measure of third-order risk preference whose relative magnitude, along with that of the Arrow-Pratt measure of risk aversion, yields a strict partial ordering of utility functions by greater downside risk aversion, and when the ranking by these measures is reversed the result is an ordering by less downside risk aversion. A sufficient condition for using this reversible measure is developed in terms of the well-known prudence measure. We also provide applications, particularly one in the context of saving
Keenan, Donald C.; Snow, Arthur;2020
Availability: Link Link
Citations: 1 (based on OpenCitations)
9. Note on the Relation Between the Downside Risk Aversion Measure d and the Schwarzian Downside Risk Aversion Measure S
abstractIt is shown that the downside risk aversion measure du is a special case of the more general Schwarzian downside risk aversion measure Su for appropriate preferences, in which case the downside measure du then inherits the desirable properties of the Schwarzian measure Su
Keenan, Donald C.; Snow, Arthur;2019
Availability: Link Link
10. Bringing Order to Rankings of Utility Functions by Strong Increases in n-th Order Aversion to Risk
abstractRankings of utility functions generated by simple n-th order risk-averse transformations are not partial orders, and therefore, do not yield reliable comparative statics predictions, except at the second order. Restrictions have been identified that rectify this deficiency at the third order concerning downside risk aversion: the strong order and the Schwarzian. We show that these concepts and their characterizations generalize to all higher orders of risk preference, the latter in two ways, pathwise (parametric) infinitesimal increases and n-monotone increases in aversion to risk, and we provide applications to intertemporal choice problems for self-protection and saving
Keenan, Donald C.; Snow, Arthur;2018
Availability: Link Link
RePEc