Browsing NHH Brage by Subject "aggregation"
Now showing items 1-5 of 5
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Demand equations with some nonstationary variables : the demand for farmed and wild salmon in Japan
(Working Paper, Working paper; Working paper, 2002-06)There seems to be substantial evidence in favor of treating price series as nonstationary. There are also strong arguments for treating expenditure shares as stationary. With this structure in the data, it is generally not ... -
The investment horizon problem : a resolution
(Discussion paper, Working paper, 2009-09)In the canonical model of investments, the optimal fractions in the risky assets do not depend on the time horizon. This is against empirical evidence, and against the typical recommendations of portfolio managers. We ... -
Patterns in the relative price for different sizes of fish : biological price generating processes in fish farming
(Working paper, Working paper; Working paper, 2000-09)Fish farming is a biological production process dependent upon biological and environmental conditions. These constraints imply that fish farmers are likely to have a quite similar distribution of different sizes of fish ... -
The tyranny of non-aggregation versus the tyranny of aggregation in social choices: a real dilemma
(Journal article; Peer reviewed, 2010)Can a tiny gain to sufficiently many well-off justify imposing a much larger sacrifice on the worst-off? We show that if one answers negatively to such a question and endorses replication invariance, one is forced to accept ... -
The tyranny of non-aggregation versus the tyranny of aggregation in social choices : a real dilemma
(Discussion paper, Working paper, 2006-12)Can a trifle gain to sufficiently many well-off justify imposing a much larger sacrifice on the worst-off? We show that if one answers negatively to such a question, one is forced to accept the maximin principle and give ...