An application to general maximum entropy to utility
Autor(a) principal: | |
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Data de Publicação: | 2013 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10174/8947 |
Resumo: | Methodologies related to information theory have been increasingly used in studies in economics and management. In this paper, we use generalised maximum entropy as an alternative to ordinary least squares in the estimation of utility functions. Generalised maximum entropy has some advantages: it does not need such restrictive assumptions and could be used with both well and ill-posed problems, for example, when we have small samples, which is the case when estimating utility functions. Using linear, logarithmic and power utility functions, we estimate those functions and confidence intervals and perform hypothesis tests. Results point to the greater accuracy of generalised maximum entropy, showing its efficiency in estimation. |
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An application to general maximum entropy to utilityGMElinear functionpower functionlogarithmic functionMethodologies related to information theory have been increasingly used in studies in economics and management. In this paper, we use generalised maximum entropy as an alternative to ordinary least squares in the estimation of utility functions. Generalised maximum entropy has some advantages: it does not need such restrictive assumptions and could be used with both well and ill-posed problems, for example, when we have small samples, which is the case when estimating utility functions. Using linear, logarithmic and power utility functions, we estimate those functions and confidence intervals and perform hypothesis tests. Results point to the greater accuracy of generalised maximum entropy, showing its efficiency in estimation.Inderscience Enterprise LTD2013-10-30T11:50:09Z2013-10-302013-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/10174/8947http://hdl.handle.net/10174/8947porFerreira, P; Dionísio, A. (2013). An application to general maximum entropy to utility, International Journal of Applied Decision Sciences, 6 (3), 228-244.Departamento de Gestãopjsf@uevora.ptandreia@uevora.pt637Ferreira, PauloDionísio, Andreiainfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-01-03T18:50:30Zoai:dspace.uevora.pt:10174/8947Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T01:03:07.953163Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
An application to general maximum entropy to utility |
title |
An application to general maximum entropy to utility |
spellingShingle |
An application to general maximum entropy to utility Ferreira, Paulo GME linear function power function logarithmic function |
title_short |
An application to general maximum entropy to utility |
title_full |
An application to general maximum entropy to utility |
title_fullStr |
An application to general maximum entropy to utility |
title_full_unstemmed |
An application to general maximum entropy to utility |
title_sort |
An application to general maximum entropy to utility |
author |
Ferreira, Paulo |
author_facet |
Ferreira, Paulo Dionísio, Andreia |
author_role |
author |
author2 |
Dionísio, Andreia |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Ferreira, Paulo Dionísio, Andreia |
dc.subject.por.fl_str_mv |
GME linear function power function logarithmic function |
topic |
GME linear function power function logarithmic function |
description |
Methodologies related to information theory have been increasingly used in studies in economics and management. In this paper, we use generalised maximum entropy as an alternative to ordinary least squares in the estimation of utility functions. Generalised maximum entropy has some advantages: it does not need such restrictive assumptions and could be used with both well and ill-posed problems, for example, when we have small samples, which is the case when estimating utility functions. Using linear, logarithmic and power utility functions, we estimate those functions and confidence intervals and perform hypothesis tests. Results point to the greater accuracy of generalised maximum entropy, showing its efficiency in estimation. |
publishDate |
2013 |
dc.date.none.fl_str_mv |
2013-10-30T11:50:09Z 2013-10-30 2013-01-01T00:00:00Z |
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/10174/8947 http://hdl.handle.net/10174/8947 |
url |
http://hdl.handle.net/10174/8947 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
Ferreira, P; Dionísio, A. (2013). An application to general maximum entropy to utility, International Journal of Applied Decision Sciences, 6 (3), 228-244. Departamento de Gestão pjsf@uevora.pt andreia@uevora.pt 637 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.publisher.none.fl_str_mv |
Inderscience Enterprise LTD |
publisher.none.fl_str_mv |
Inderscience Enterprise LTD |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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