Exact(1)
This is opposed to the sequential decision assumption where households retain greater flexibility over market decisions, hence reducing traders' capacity to extract much or all the gains from trade (Bellemare and Barrett 2006).
Similar(59)
Patterns can be used to analyze complex systems, to capture design decisions, assumptions, and experiences.
"The controversy created by the Roger Dudman Way development lies in series of separated but clearly inter-related individual decisions, assumptions and judgements made at each stage of the planning process.
But some conflicted women might imagine that a place so closely associated with abortion rights could not possibly be the right place to hash out the decision — an assumption of polarization seems to kick in reflexively.
In short, Pascal's wager has no pull on strict atheists.[9] Finally, one could question Pascal's decision theoretic assumption that rationality requires one to perform the act of maximum expected utility (when there is one).
The single decision maker assumption, which is fundamental to the standard unitary model of household behavior, is associated with the theoretical implication that observed demand or labor supply should satisfy the well-known Slutsky conditions.
Hence, we would expect the Laplace distribution to better characterize the hypothetical distribution of effects along the decision axis.Another assumption in the model is that the variance depends on the number of criteria needed to define the response regions.
For the purposes of understanding how society copes with the consequences of those decisions, the assumption of rational utility-maximisation works just fine.But today's neuroeconomists are not the first dismal scientists to dream of peering inside the human brain.
Such transactions, already common, increased in the wake of these decisions; the assumption was that the Indians held fee simple to their land, but that future executory interests could be sold, representing a promise of the state to transfer the land should it ever come into their possession.
In calculating its new budget projections, it made several policy decisions and assumptions that had the effect of increasing the surplus and decreasing the risk of dipping into Social Security money, especially this year and next year.
As the program led to more explicit proofs, criticism turned to the decision-theoretic assumptions being made (Lewis 2010, Albert 2010, Kent 2010, Price 2010).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com