Survival analysis (time-to-event analysis) is widely used in economics and finance, engineering, medicine many other areas. A fundamental problem to understand the relationship between covariates (distribution of) survival times(times-to-event). Much of previous work has approached by viewing time as first hitting a stochastic process, assuming specific form for underlying using available data learn parameters model, then deducing distribution times (the risk). However, models rely on strong...

This paper studies the impact of ambiguity and aversion on equilibrium asset prices portfolio holdings in competitive financial markets. It argues that attitudes toward are heterogeneous across population, just as risk but heterogeneity has different implications than risk. In pa rticular, when some state probabilities not known, agents who sufficiently averse find open sets for which they refuse to hold an ambiguous portfolio. suggests a cross section choices, wider range price/probability...

Missing data is a ubiquitous problem. It especially challenging in medical settings because many streams of measurements are collected at different-and often irregular-times. Accurate estimation the missing critical for reasons, including diagnosis, prognosis, and treatment. Existing methods address this problem by interpolating within or imputing across (both which ignore important information) ignoring temporal aspect imposing strong assumptions about nature data-generating process and/or...

Journal Article Status in Markets Get access Sheryl Ball, Ball Virginia Polytechnic Institute and State University Search for other works by this author on: Oxford Academic Google Scholar Catherine Eckel, Eckel Philip J. Grossman, Grossman St. Cloud William Zame of California, Los Angeles The Quarterly Economics, Volume 116, Issue 1, February 2001, Pages 161–188, https://doi.org/10.1162/003355301556374 Published: 01 2001

UNIVERSITY OF CALIFORNIA, BERKELEY Department o f Economics Berkeley, California Working Paper 8756 DISCONTINUOUS GAMES ENDOGENOUS SHARING RULES AND Leo K. Simon and. W i l a m R. October 1, Key words: Zame D s c n t u games, e x , Nash q b r H g Bertrand, sharing . Abstract We propose d approach the k of economic problems h games. view under- y p are determined, than discontinuous. At where occur, we be determined endogenously, as model des- model. T us game with an en- dogenous I space...

The paper provides conditions on the primitives of a continuous-time economy under which there exist equilibria obeying Consumption-Based Capital Asset Pricing Model (CCAPM). also extends equilibrium characterization interest rates Cox, Ingersoll, and Ross (1985) to multi-agent economies. We do not use Markovian state assumption. THIS WORK PROVIDES sufficient agents' for validity (CCAPM) Breeden (1979). As necessary condition, showed that in satisfying certain regularity conditions, one can...

The sensitivity of Bayesian implementation to agents' beliefs about others suggests the use more robust notions such as ex post implementation, which requires that each agent's strategy be optimal for every possible realization types other agents. We show only deterministic social choice functions are implementable in generic mechanism design frameworks with multidimensional signals, interdependent valuations, and transferable utilities constant functions. In words, same alternative must...

This paper defines a general equilibrium model with exchange and club formation. Agents trade multiple private goods widely in the market, can belong to several clubs, care about characteristics of other members their clubs. The space agents is continuum, but clubs are finite. It shown that (i) competitive equilibria exist, (ii) core coincides set states. central subtlety modeling memberships expressing notion membership choices consistent across population.

This paper offers a new approach to the study of economic problems usually modeled as games incomplete information with discontinuous payoffs.Typically, discontinuities arise from indeterminacies (ties) in underlying problem.The point view taken here is that tie-breaking rules resolve these should be viewed part solution rather than description model.A therefore rule together strategies satisfying usual best-response criterion.When incomplete, solutions need not exist; is, there may no...

This paper argues that incompleteness of intertemporal financial markets has little effect (on welfare, prices, or consumption) in an economy with a single consumption good, provided traders are long–lived and patient, riskless bond is traded, shocks transitory, there no aggregate risk. In risk, similar conclusion holds, share the same CRRA utility function right assets traded. Examples demonstrate these conclusions need not hold if wrong traded multiple goods.

Background Risk prediction is crucial in many areas of medical practice, such as cardiac transplantation, but existing clinical risk-scoring methods have suboptimal performance. We develop a novel risk algorithm and test its performance on the database all patients who were registered for transplantation United States during 1985-2015. Methods findings new, interpretable, methodology (ToPs: Trees Predictors) built principle that specific predictive (survival) models should be used clusters...

The world is in the midst of a pandemic. We still know little about disease COVID-19 or virus (SARS-CoV-2) that causes it. do not have vaccine treatment (aside from managing symptoms). if recovery produces immunity, and so for how long, hence we "herd immunity" will eventually reduce risk successful can be developed – this knowledge may long time coming. In meantime, pandemic presenting enormous challenges to medical research, clinical trials particular. This paper identifies some those...

This paper defines a notion of an equilibrium and pseudo-equilibrium for infinite horizon economies with incomplete asset markets. definition generalizes the usual ones finite markets complete We establish existence when assets are short-lived denominated in general commodity bundles; we obtain true solely single numeraire commodity, or units account. It seems to us that define is natural compelling one; as evidence, show our actually coincides several other - apparently quite distinct...

Many tests of asset-pricing models address only the pricing predictions, but these predictions rest on portfolio choice that seem obviously wrong.This paper suggests a new approach to asset and choices based unobserved heterogeneity.This yields standard conclusions classical is consistent with very different choices.Novel econometric link price take into account general equilibrium effects sample-size bias.This works through in detail for case capital model (CAPM), producing called CAPM +...

Abstract Genericity analysis is widely used to show that desirable properties fail in certain "knife-edge" economic situations nonetheless obtain "typical" situations. For finite-dimensional spaces of parameters, the usual notion genericity full Lebesgue measure. infinite dimensional parameters (for instance, space preferences on a commodity space, no analogue measure available; lack such an has prompted use less compelling topological notions genericity. Christensen (1974) and Hunt, Sauer...

Two of the most important refinements Nash equilibrium concept for extensive form games with perfect recall are Selten's (1975) and Kreps Wilson's (1982) more inclusive sequential equilibrium. These two motivated in very different ways. Nonetheless, as Wilson (1982, Section 7) point out, concepts lead to similar prescriptions play. For each particular game form, every is sequential. Moreover, almost all assignments payoffs outcomes, strategy profiles profiles, outcomes outcomes. We establish...

The existence of competitive equilibrium is established for economies with a produc tion sector and an infinite dimensional space commodities. cru cial assumptions which are required (beyond those in the fin ite setting) bounds on marginal rates substitution transformation. Copyright 1987 by Econometric Society.