"Quasi-convexity in probabilistic mixtures is a common and useful property in decision analysis. We study a general class of non-monotone mappings, called the generalized rank-dependent functions, which include the preference models of expected utilities, dual utilities, and rank-dependent utilities as special cases, as well as signed Choquet integrals used in risk management."
The paper delves into the intertwining of financial institutions and environmental concerns, particularly climate change and biodiversity loss. It introduces a dual framework based on 'impact' and 'ri
The paper explores optimal insurance contracts using decision makers' preferences, combining expected loss with a deviation measure like Gini coefficient or standard deviation. It reveals that using e
“I show that, during a normal economic period, rather than having a disciplining effect, disclosure leads to banks increasing risk taking, consistent with banks facing pressure to offset the costs of