Probability theory

allocative (in)efficiency within a stochastic frontier framework, using the implications of the translog cost-share system (consisting of the cost function and the share equations) derived in Kumbhakar (1997). Note that although the underlying microeconomic theory suggests estimating the system of the cost-share equations, most efficiency studies rely on the estimation of cost functions alone. The reason is that the error structure comprising noise, as well as technical and allocative inefficiency, complicates

85 86 87 89 89 90 91 92 92 93 94 95 95 95 96 96 97 8 Chapter 4: Research methodology 4.1 4.2 4.3 4.4 Introduction Background The research process Epistemology and theoretical perspective 4.4.1 Research paradigms 4.4.2 Inductive and deductive theory Research hypothesis and objectives Research design 4.6.1 Types of research 4.6.1.1 Exploratory research 4.6.1.2 Descriptive research 4.6.1.3 Explanatory research 4.6.1.4 Advantages of each research design 4.6.2 Case study research 4.6.2.1 Components

the difference between the derived corporate spot rates and the derived Treasury spot rates. The estimated values seem are consistent with previous findings as well as with financial theory. The spreads increase in magnitude as we move down the credit ratings, indicating, ceteris paribus, a higher default probability for lower grade bonds. Of interest as well is that, except for AAA spreads, the slope of the credit spreads increases with maturity. This term premium increases monotonically as credit

la chaire d’Alfred Marshall, le bureau d'économie et de politique, présidé par John Neville Keynes, créa deux postes de maître de conférences ; l’un d’eux fut offert à John Maynard Keynes20. En 1908, il commença à travailler sur le Treatise on Probability (Traité sur la probabilité) et en 1913, il publia son premier livre d'économie, l'"Indian Currency and Finance" le meilleur ouvrage anglais sur l’étalon de change-or, selon Schumpeter; le succès de l’ouvrage lui valut la réputation de maîtriser

governance and bank crises during the period 1980 - 2003. Our results have shown a positive association (correlation) between financial liberalization and the probability of the emergence of bank crises, however we found a negative and significant association (correlation) between governance (prudential supervision) and the probability of emergence of bank crises, which leads us to think that reinforcing bank governance during the financial liberalization phases constitutes a condition on having

insurance, stochastic, assets, liabilities, inflation, interest rate, bonds, shares, the real-estate business, correlation, strategic allocation (or best-of-breed allocation), reserving, premiums, solvency margin, economic result (or bottom line), ruin probability. Sophisticated methods (that include stochastic approaches) for assessing risk supplant conventional ones. Indeed, one has to emphasize that deterministic methods which, by means of contingency analysis of some factors, do not fulfil any more

consumption of the product or service. An important property of risk conceptualization within consumer psychology is that risk is thought to arise only from potentially negative outcomes, in contrast to other disciplines such as behavioral decision theory and other areas of psychology, where both positive and negative aspects are considered when evaluating risk. In this paper, the focus is on risk perceptions at the level of the product class to allow consistent ``between-construct'' theorytesting

problem in choosing its loan portfolio. For simplicity, we assume that the bank may choose between two assets: the prudent asset, yielding a return yielding a return of expected return ( α α ; and the gambling asset, γ with probability θ and β with probability 1− θ . The prudential asset has higher > θγ + (1 − θ )β ), but if the gamble succeeds the bank earns higher private return k which is expressed as a ( γ > α ). The bank invests both the deposits it mobilizes and its own

and techniques. The role of Scrum is to surface the relative efficacy of your development practices so that you can improve upon them while providing a framework within which complex products can be developed. SCRUM THEORY Scrum, which is grounded in empirical process control theory, employs an iterative, incremental approach to optimize predictability and control risk. Three legs uphold every implementation of empirical process control. THE FIRST LEG IS TRANSPARENCY Transparency ensures that

Research Working Paper: 3276, March, Page 30. FEDER, G. (1983), « On Exports and Economic Growth », Journal of Development Economics, Volume 12, Issue 1-2, February-April, Pages 59-73. GROSSMAN, G. M. and HELPMAN, E. (1991a), « Quality Ladders in the Theory of Growth », Review of Economic Studies, Volume 58, Issue 1, Pages 43-61. GROSSMAN, G. M. and HELPMAN, E. (1991b), «Quality Ladders and Product Cycles », Quarterly Journal of Economics, Volume 106, Issue 2, Pages 557-586. GROSSMAN, G. M. and HELPMAN