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Consumption Demand, Uncertainty and Stochastic Process
Get PDFPart I of this paper reexamines the consumption demand under uncertain future wage income. In particular, we comprehensively reexamine the “Expected Utility Maximization Method” (EUM, developed by Hall[1978]), and propose an alternative method (“Certainty Equivalence Method”, CEM) to derive the consumption demand under uncertainty. We emphasize that the consumption demand should be established as a stochastic variable before considering its expected utility, an important logical point which seems to have escaped appropriate professional attention. We will show that, in contrast to EUM, our method (CEM) is applicable to any type of risk preference. Based on Part I, we examine in Part II how to derive a refutable hypothesis concerning the consumption demand as a stochastic process, consistently with the consumption demand derived by CEM. Again, it is necessary to reconsider the problem comprehensively, particularly in relation to the risk preference of the consumer. It will be shown that the risk neutrality is one of the important sufficient conditions for the consumption time series to have the martingale property.departmental bulletin pape
A Simply Dynamical Approach to The Interregional Trade Theory, 2 : cases including monopoly and monopolistically competitive markets
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Protection of Cultural Property from Intentional Destruction and Incidental Damage in the Event of Armed Conflict
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Strafrecht Allgemeiner Teil Memorandum（2） : ,Teilnahme‘, ,Nebentǎterschaft‘ und ,Kausalitǎt‘
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Balancing nationalism and nationism : Teaching of Japaneseness in English language policy papers
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A study for the novel Gikin by Ozaki Koyo : a case of anadaptation from chinese classics
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Hemispheric Imaginings in The Narrative of Arthur Gordon Pym of Nantucket : Latitude, Longitude, and Monroe Doctrine
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Improvements on Integrating Parallelized Information into Intermediate Data Structure based on Parse Tree for Automatic Parallelizing Translator for C Programs
Get PDFIn our automatic parallelizing translator, an intermediate data structure based on parse tree of the sequential C program is generated. There are some analysis stages in our parallelizing translator, such as data dependency analysis stage, task granularity analysis stage, task scheduling stage, and parallel code generation stage. In this paper, we propose a new integration method of analysis result from each stage into the intermediate data structure based on parse tree for the purpose of translation efficiency. In addition, we report the implementation of the history mechanism of the translate-operations to the intermediate data structure based on parse tree in order to trace backward or forward of the sequence of the operations.departmental bulletin pape