Normality under uncertainty
Autor(a) principal: | |
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Data de Publicação: | 2003 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
Texto Completo: | http://hdl.handle.net/10438/463 |
Resumo: | Consider the demand for a good whose consumption be chosen prior to the resolution of uncertainty regarding income. How do changes in the distribution of income affect the demand for this good? In this paper we show that normality, is sufficient to guarantee that consumption increases of the Radon-Nikodym derivative of the new distribution with respect to the old is non-decreasing in the whole domain. However, if only first order stochastic dominance is assumed more structure must be imposed on preferences to guanantee the validity of the result. Finally a converse of the first result also obtains. If the change in measure is characterized by non-decreasing Radon-Nicodyn derivative, consumption of such a good will always increase if and only if the good is normal. |
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Costa, Carlos Eugênio daEscolas::EPGEFGV2008-05-13T15:24:37Z2008-05-13T15:24:37Z2003-09-300104-8910http://hdl.handle.net/10438/463Consider the demand for a good whose consumption be chosen prior to the resolution of uncertainty regarding income. How do changes in the distribution of income affect the demand for this good? In this paper we show that normality, is sufficient to guarantee that consumption increases of the Radon-Nikodym derivative of the new distribution with respect to the old is non-decreasing in the whole domain. However, if only first order stochastic dominance is assumed more structure must be imposed on preferences to guanantee the validity of the result. Finally a converse of the first result also obtains. If the change in measure is characterized by non-decreasing Radon-Nicodyn derivative, consumption of such a good will always increase if and only if the good is normal.engEscola de Pós-Graduação em Economia da FGVEnsaios Econômicos;496Stochastic dominanceMonotone likelihood ration propertyNormalityEconomiaEconomiaRisco (Economia)Equilíbrio econômicoProcesso estocásticoNormality under uncertaintyinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlereponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessORIGINAL1395.pdfapplication/pdf268253http://bibliotecadigital.fgv.br:80/dspace/bitstream/10438/463/1/1395.pdf29e407d605c12eb27f59d07fef06875aMD51TEXT1395.pdf.txt1395.pdf.txtExtracted Texttext/plain8843http://bibliotecadigital.fgv.br:80/dspace/bitstream/10438/463/2/1395.pdf.txta1f050abda8ec799f9868c57d1428e4cMD52THUMBNAIL1395.pdf.jpg1395.pdf.jpgGenerated Thumbnailimage/jpeg1841http://bibliotecadigital.fgv.br:80/dspace/bitstream/10438/463/3/1395.pdf.jpg997cdc523d350a66a9221d137da7b2c1MD5310438/4632018-08-23 10:21:56.306oai:bibliotecadigital.fgv.br:10438/463Repositório InstitucionalPRIhttp://bibliotecadigital.fgv.br/dspace-oai/requestopendoar:39742018-08-23T13:21:56Repositório Institucional do FGV (FGV Repositório Digital) - Fundação Getulio Vargas (FGV)false |
dc.title.eng.fl_str_mv |
Normality under uncertainty |
title |
Normality under uncertainty |
spellingShingle |
Normality under uncertainty Costa, Carlos Eugênio da Stochastic dominance Monotone likelihood ration property Normality Economia Economia Risco (Economia) Equilíbrio econômico Processo estocástico |
title_short |
Normality under uncertainty |
title_full |
Normality under uncertainty |
title_fullStr |
Normality under uncertainty |
title_full_unstemmed |
Normality under uncertainty |
title_sort |
Normality under uncertainty |
author |
Costa, Carlos Eugênio da |
author_facet |
Costa, Carlos Eugênio da |
author_role |
author |
dc.contributor.unidadefgv.por.fl_str_mv |
Escolas::EPGE |
dc.contributor.affiliation.none.fl_str_mv |
FGV |
dc.contributor.author.fl_str_mv |
Costa, Carlos Eugênio da |
dc.subject.por.fl_str_mv |
Stochastic dominance Monotone likelihood ration property Normality |
topic |
Stochastic dominance Monotone likelihood ration property Normality Economia Economia Risco (Economia) Equilíbrio econômico Processo estocástico |
dc.subject.area.por.fl_str_mv |
Economia |
dc.subject.bibliodata.por.fl_str_mv |
Economia Risco (Economia) Equilíbrio econômico Processo estocástico |
description |
Consider the demand for a good whose consumption be chosen prior to the resolution of uncertainty regarding income. How do changes in the distribution of income affect the demand for this good? In this paper we show that normality, is sufficient to guarantee that consumption increases of the Radon-Nikodym derivative of the new distribution with respect to the old is non-decreasing in the whole domain. However, if only first order stochastic dominance is assumed more structure must be imposed on preferences to guanantee the validity of the result. Finally a converse of the first result also obtains. If the change in measure is characterized by non-decreasing Radon-Nicodyn derivative, consumption of such a good will always increase if and only if the good is normal. |
publishDate |
2003 |
dc.date.issued.fl_str_mv |
2003-09-30 |
dc.date.accessioned.fl_str_mv |
2008-05-13T15:24:37Z |
dc.date.available.fl_str_mv |
2008-05-13T15:24:37Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10438/463 |
dc.identifier.issn.none.fl_str_mv |
0104-8910 |
identifier_str_mv |
0104-8910 |
url |
http://hdl.handle.net/10438/463 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.ispartofseries.por.fl_str_mv |
Ensaios Econômicos;496 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.publisher.none.fl_str_mv |
Escola de Pós-Graduação em Economia da FGV |
publisher.none.fl_str_mv |
Escola de Pós-Graduação em Economia da FGV |
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reponame:Repositório Institucional do FGV (FGV Repositório Digital) instname:Fundação Getulio Vargas (FGV) instacron:FGV |
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FGV |
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Repositório Institucional do FGV (FGV Repositório Digital) |
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Repositório Institucional do FGV (FGV Repositório Digital) |
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