Suchergebnisse

The expected utility framework developed in The War Trap is revised to correct several deficiencies. Risk-taking orientations are now treated as an integral part of the model by introducing concavity or convexity into the utility functions. The zero-sum properties of the theory are largely eliminated, and the tendency toward interpersonal comparisons of utility is removed. Several earlier results are replicated with the new model, and with annual capabilities data. New propositions are deduced that identify important limitations on conflict initiation, and relationships resulting from differences in perceptions are tested. Support is found for the contention that the revised version of the theory, of which the original model is a special case, is a powerful tool for integrating many extant hypotheses about conflict and for explaining a substantial portion of the tendency for some threats to escalate to violence or warfare and for others to be resolved peacefully.

This paper identifies in a feed-forward neural network the mathematical algorithm which can catch the learning process highlighted by econometric works that makes people assess the satisfaction arising in each single contingency so that they are better depicted in their decision making by an Expected Utility rather than by a Regret Model. Evidence from experimental economics are also accounted for, since the network does not manage to extrapolate the former from the latter model when probabilities are extreme.

This paper aims to critically appraise optimal patent protection using the expected utility model from the perspectives of governments to balance the motivation and social use of the intellectual property. In order to achieve this aim, the report has presented the working mechanism of governments towards patent protection; use of utility model by governments; past and present academic investigations on the topic; strategizing behavior of governments towards patents and as a brief example, a case of the transition economy. The expected utility model has provided an effective and efficient framework for the development of patent strategy by governments. The essay has noted that due to the differences between industries and their dynamics, it is expected that diverse patent regimes should be followed to balance the social utility and economic utility of the economic actor to engage in research and development.

Abstract
This paper explores a particularly simple model of choice under risk, based on geometric means and entropy. Despite its simplicity, it satisfies various prudence and risk aversion conditions, is consistent with the Allais paradox, and generates various insurance-related results. Within a portfolio framework with compounded reinvestments, our index fits the risks/rewards data from post-war US stock market returns and recent international markets, at least as well as does the standard deviation measures more typically used. It also generates returns that are consistent with the equity premium puzzle.

Unlike the Cold War period, in which the leaders of the two opposing blocs had significant influence on their regional allies' foreign policy decision-making, the recent changes in superpower status provide both South and North Korea more flexibility in their military and economic policy-making. Using an expected utility model of regional rivalry, the author examines what kind of impact the current changes in the international system will have on the stability of the Korean peninsula. (DÜI-Sen)