scholarly journals Random ambiguity

2021 ◽  
Vol 16 (2) ◽  
pp. 539-570
Author(s):  
Jay Lu
Keyword(s):  
Theoretical Foundation ◽  
Ambiguity Aversion ◽  
Stochastic Order ◽  
Random Sets ◽  
Random Set ◽  
Utility Model ◽  
Binary Choices ◽  
Utility Models ◽  
Expected Utility Model ◽  
Stochastic Properties

We introduce a model of random ambiguity aversion. Choice is stochastic due to unobserved shocks to both information and ambiguity aversion. This is modeled as a random set of beliefs in the maxmin expected utility model of Gilboa and Schmeidler (1989). We characterize the model and show that the distribution of ambiguity aversion can be uniquely identified from binary choices. A novel stochastic order on random sets is introduced that characterizes greater uncertainty aversion under stochastic choice. If the set of priors is the Aumann expectation of the random set, then choices satisfy dynamic consistency. This corresponds to an agent who knows the distribution of signals but is uncertain about how to interpret signal realizations. More broadly, the analysis of stochastic properties of random ambiguity attitudes provides a theoretical foundation for the study of other random nonlinear utility models.

scholarly journals Testing Ambiguity Models through the Measurement of Probabilities for Gains and Losses

2015 ◽  
Vol 7 (2) ◽  
pp. 77-100 ◽  
Author(s):  
Aurélien Baillon ◽  
Han Bleichrodt
Keyword(s):  
Expected Utility ◽  
Ambiguity Aversion ◽  
Choquet Expected Utility ◽  
Maxmin Expected Utility ◽  
Stock Indices ◽  
Descriptive Validity ◽  
Utility Models ◽  
Ambiguity Attitudes ◽  
Gains And Losses ◽  
Fourfold Pattern

This paper reports on two experiments that test the descriptive validity of ambiguity models using a natural source of uncertainty (the evolution of stock indices) and both gains and losses. We observed violations of probabilistic sophistication, violations that imply a fourfold pattern of ambiguity attitudes: ambiguity aversion for likely gains and unlikely losses and ambiguity seeking for unlikely gains and likely losses. Our data are most consistent with prospect theory and, to a lesser extent, α-maxmin expected utility and Choquet expected utility. Models with uniform ambiguity attitudes are inconsistent with most of the observed behavioral patterns. (JEL D81, D83, G11, G12, G14)

scholarly journals FEATURES OF FORMULATION THE CLAIM OF INVENTION OR THE UTILITY MODEL AS OBJECTS OF LEGAL PROTECTION

2020 ◽  
pp. 161-172
Author(s):  
Oleksandr Kholodyuk ◽  
Ruslan Bulin
Keyword(s):  
Legal Protection ◽  
Scientific Work ◽  
State Enterprise ◽  
Technical Solution ◽  
Clear Understanding ◽  
Utility Model ◽  
Patent Licensing ◽  
Urgent Task ◽  
Analysis And Synthesis ◽  
Utility Models

Inventive and patent licensing work is an integral part of the activities of engineering, technical and scientific workers in all spheres of the economy. Invention is creation of technological (technical) solution that meets the conditions of patentability (novelty, inventive step and industrial applicability). Such solutions may, in particular, be inventions or utility models. Therefore, the processing of applications, in particular its component, which are the claim of invention and the utility mode formulal, is an urgent task when preparing the application materials for obtaining the security document - patent. The object of the study in this article was the preparation, the sequence of presentation, taking into account the structure of the interrelated elements and parts of the formula, as a component of an application for an invention or utility model. The purpose of the work was to fully and comprehensively investigate the proper execution of the claim of invention and the utility model as an integral part of the application, and one that defines the scope of legal protection. The task of the work was: to consider the creativity and inventive activity of man as a form of self-realization; analyze the properties of the invention and utility model as objects of legal protection; investigate the features of the claim of invention and utility models. The research methodology was based on the method of materialistic dialectics, methods of analysis and synthesis of both information from official sources and information from the works of other researchers. The scientific work considers the peculiarities of execution of the claim of invention or utility model as an integral part of the application, which is submitted to the state enterprise "Ukrainian Institute of Intellectual Property" for a patent. The purpose of the claim of invention and its requirements have been analyzed. Thus, the features of the invention (utility model) in the claim of invention (utility model) are laid out in such a way as to enable them to be identified, that is, a clear understanding of their content by a person skilled in the art. The composition of the claim containing limiting, separating and distinguishing parts has been analyzed. The features of the content of the application for the invention of "device", "method" and "new application of a known product or process" are considered.

scholarly journals The partial waiver of the rights and partial invalidation of rights to the invention

2021 ◽  
pp. 51-59
Author(s):  
Petro Borovyk
Keyword(s):  
Legal Protection ◽  
Third Parties ◽  
Legal Certainty ◽  
Utility Model ◽  
Patent Owner ◽  
The Third ◽  
Utility Models ◽  
The Law ◽  
State Registration ◽  
The Right

Borovyk P. The partial waiver of the rights and partial invalidation of rights to the invention. In view of changes in the Law of Ukraine «About protection of rights for inventions and utility models» introduced according to the Law No. 816-IX as of 21.07.2020, it is implied that a patent owner can waive rights provided by a state registration of an invention (utility model) fully or partially, and a court can render the rights for the invention (utility model) invalid fully or partially. The partial waiver of the rights or rendering the rights invalid causes a number of issues on a rather frequent basis, in particular, regarding a certain procedure of defining the entire scope of rights according to the patent and a portion of these rights. Since the scope of rights is defined by claims, the partial waiver of the rights or the partial rendering the rights invalid substantially represents a change of the scope of rights, which are defined by the claims as published. The patent may be granted for a group of inventions. In such case, the scope of rights shall be defined by the claims that comprise several independent claims. Here, the partial waiver of the rights for the invention may be carried out by waiving one or several independent claims at the discretion of the patent owner or by rendering one or several independent claims invalid by the court. Therewith, the scope of rights that is defined during conduction of an examination for another invention of the group of inventions, which are mentioned in a single protection document (patent), is not changed. The partial waiver or the partial rendering the rights for the invention invalid for the claims having one independent claim is a more problematic case. A key aspect of this problem is an influence of the proposed amendments of the claims onto the scope of rights for the invention and its correspondence with the requirements for granting a legal protection. More specifically, it is an establishment of a fact of reduction of the scope of rights when introducing the proposed amendments into the independent claim and examination of a new version of the independent claim for compliance with the requirements of patentability. An important aspect also lies in establishment of a balance of interests of the patent owner and third parties. The patent owner will receive a mechanism of implementation of the right for protection of allowable embodiments of the invention, while the third parties will receive a right for a legal certainty by means of an analysis of the scope of rights of the new version of the claims. The article discloses grounds for waiving the rights for the invention and the mechanism for implementation of the waiver under the legislation in force both for the case of the group of inventions and for the partial waiver or the partial rendering the rights for the invention invalid with the claims having one independent claim. Keywords: scope of rights, independent and dependent claims, amendment to claims, proceedings

Ukrainian patent reform: render harmless a utility model

2020 ◽  
pp. 61-63
Author(s):  
Irina Kirichenko ◽  
Keyword(s):  
Russian Federation ◽  
Civil Code ◽  
Innovation Activity ◽  
Technical Solution ◽  
Chemical Formula ◽  
Utility Model ◽  
Intellectual Activity ◽  
Ukrainian Patent ◽  
Utility Models ◽  
The Russian Federation

The patent is an amazing thing, it’s like a narcotic: nothing but a chemical formula known for more than one century, registered as a utility model, but can subjugate all other licenses and permits in a way that no other “gun” can. According to Article 1 of the Law of Ukraine “On Protection of Rights to Inventions and Utility Models”, a utility model (just as an invention) is the result of human intellectual activity in any sphere of technology i.e. the object of the utility model (UM) may be any product (device, substance etc.) or a process (unlike us, unfortunately our Russian colleagues severely limited innovation activity. For example, Article 1351, Paragraph 1 of the Civil Code of the Russian Federation allows you to protect as a utility model only a technical solution relating to an apparatus).

The Expected Utility of Insurance

2019 ◽  
pp. 8-47
Author(s):  
Brad Epperly
Keyword(s):  
Expected Utility ◽  
Judicial Independence ◽  
Utility Model ◽  
Personal Security ◽  
Power Means ◽  
Democratic Regimes ◽  
The Future ◽  
Autocratic Regimes ◽  
Expected Utility Model

This chapter offers a new version of popular “insurance” models of judicial independence, in which the competitiveness of the electoral arena induces leaders to prefer more independent courts, as a means of offering policy and personal security if they lose power. That is, paying the “premium” of increased constraints on behavior imposed by independent courts now for the insurance of protection in the future if out of office. The crux of the argument is that the risks associated with losing power in autocratic regimes are greater than in democracies, and therefore competition should be more salient in dictatorships than democracies. The stakes are higher because autocratic power means access to wealth and state resources in a way rarely equaled in democratic regimes, and more importantly the likelihood of being punished after leaving office is greater for former autocrats. Judiciaries exercising greater independence, however, can minimize the risks of being a former leader, and the chapter leverages this finding to develop an expected utility model, the empirical implication of which is higher salience of competition—when present—in autocracies. Unlike previous theories of how competition affects independence, this model integrates both the likelihood of losing office and the risks associated with such an outcome, and thus allows us to examine the phenomena across the democracy/dictatorship divide.

scholarly journals Marketing of Cotton Fiber in the Presence of Yield and Price Risk

2000 ◽  
Vol 32 (3) ◽  
pp. 521-529 ◽  
Author(s):  
Jan Wojciechowski ◽  
Glenn C. W. Ames ◽  
Steven C. Turner ◽  
Bill R. Miller
Keyword(s):  
Programming Model ◽  
Crop Insurance ◽  
Insurance Coverage ◽  
Optimal Level ◽  
Marketing Strategies ◽  
Price Risk ◽  
Utility Model ◽  
Producer’S Risk ◽  
Price Insurance ◽  
Expected Utility Model

AbstractAn expected-utility model and a chance-constrained linear programming model were used to analyze four marketing strategies and seven crop insurance alternatives for cotton marketing in Georgia. The results suggest that existing marketing tools and insurance alternatives can be used to reduce cotton producers' revenue risk. The optimal level of yield and price insurance coverage depends on an individual producer's risk aversion.

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