Utility Maximization and Dissipation Under Price Controls

2020 ◽  
Author(s):  
Louis Rouanet
Keyword(s):  
Utility Maximization ◽  
Price Controls

Resetting price controls for privatized utilities

1999 ◽  
Author(s):  
Richard Green ◽  
Martin Rodriguez Pardina
Keyword(s):  
Price Controls

Non-Concave Utility Maximization without the Concavification Principle

2019 ◽  
Author(s):  
Min Dai ◽  
Steven Kou ◽  
Shuaijie Qian ◽  
Xiangwei Wan
Keyword(s):  
Utility Maximization

SHORT-RUN TAX-RESPONSE IN A UTILITY-MAXIMIZATION FRAMEWORK

1970 ◽  
Vol 23 (4) ◽  
pp. 365-372
Author(s):  
FREDERICK D. SEBOLD
Keyword(s):  
Utility Maximization ◽  
Short Run

scholarly journals Diffusion approximations for randomly arriving expert opinions in a financial market with Gaussian drift

2021 ◽  
Vol 58 (1) ◽  
pp. 197-216 ◽  
Author(s):  
Jörn Sass ◽  
Dorothee Westphal ◽  
Ralf Wunderlich
Keyword(s):  
Stock Returns ◽  
Financial Market ◽  
Discrete Time ◽  
High Frequency ◽  
Utility Maximization ◽  
Limit Theorems ◽  
Approximate Solutions ◽  
Diffusion Approximations ◽  
Expert Opinions ◽  
Arrival Intensity

AbstractThis paper investigates a financial market where stock returns depend on an unobservable Gaussian mean reverting drift process. Information on the drift is obtained from returns and randomly arriving discrete-time expert opinions. Drift estimates are based on Kalman filter techniques. We study the asymptotic behavior of the filter for high-frequency experts with variances that grow linearly with the arrival intensity. The derived limit theorems state that the information provided by discrete-time expert opinions is asymptotically the same as that from observing a certain diffusion process. These diffusion approximations are extremely helpful for deriving simplified approximate solutions of utility maximization problems.

scholarly journals Israel's Stabilization Program of 1985, Or Some Simple Truths of Monetary Theory

1993 ◽  
Vol 7 (2) ◽  
pp. 103-128 ◽  
Author(s):  
Don Patinkin
Keyword(s):  
Adverse Effects ◽  
Social Contract ◽  
Annual Rate ◽  
Monetary Theory ◽  
Major Purpose ◽  
The Real ◽  
Price Controls

Within a period of two months, and with minimal adverse effects on employment and the real functioning of the economy, Israel's 1985 stabilization program reduced the annual rate of inflation from close to 500 percent to less than 20 percent (corresponding, respectively, to average compounded monthly rates of 16.1 and 1.5 percent) and has maintained that situation until now (1992). The major purpose of this paper is to use this inflationary experience as an illustration of some of the simple truths of traditional monetary theory. At the same time, this experience also illustrates the advantages of a heterodox policy (that is, one that, in addition to restrictive monetary and fiscal measures, makes temporary use of wage and price controls, often within the context of a "social contract") in bringing an inflationary process to an end. A second purpose is to explain the unique political circumstances that—despite the aforementioned earlier failures—created the credibility that enabled the 1985 program to succeed.

Sign in / Sign up

Export Citation Format

Share Document