Dardanoni, Valentino, Modica, Salvatore, Pennsi, Aline
This paper reports some facts about grading standards across a varied sample of 16 countries participating in the 2003 OCSE-PISA Survey. Our main finding is that in all countries except Ireland and...
Dardanoni, Valentino, Modica, Salvatore, Pennsi, Aline
This paper reports some facts about grading standards across a varied sample of 16 countries participating in the 2003 OCSE-PISA Survey. Our main finding is that in all countries except Ireland and...
Dardanoni, Valentino, Modica, Salvatore, Pennsi, Aline
This paper reports some facts about grading standards across a varied sample of 16 countries participating in the 2003 OCSE-PISA Survey. Our main finding is that in all countries except Ireland and...
Dardanoni, Valentino, Modica, Salvatore, Pennsi, Aline
This paper reports some facts about grading standards across a varied sample of 16 countries participating in the 2003 OCSE-PISA Survey. Our main finding is that in all countries except Ireland and...
We learned an immense amount from our fellow bloggers at (2008)
Malik Shukayev, Robert Solow, Edward Welbourne, Andrea Moro, Michael Perelman, Mike Golosov, ...
Above all we are grateful to our families, Emanuela, Niccolò, Joyce, and Milena for putting up with us while we wrote this – not to speak of reading and criticizing parts of it. A great many...
UNAWARENESS, PRIORS AND POSTERIORS (2008)
Abstract. This note contains first thoughts on awareness of unawareness in a simple dynamic context where a decision situation is repeated over time. The main consequence of increasing awareness is...
Knowledge Transfer in R&D Outsourcing (and Linux-vs-Windows) (2003)
Why did Microsoft not hire all those smart programmers who ended up developing Linux through the internet? Because, we answer, the value of the information about its operating system that Microsoft...
Unawareness and Partitional Information Structures (1999)
Salvatore Modica, Aldo Rustichini
We claim first that simple uncertainty is not an adequate model of a subject's ignorance, because a major component of it is the inability to give a complete description of the states of the...
Belief Dependent Utility (1996)
Salvatore Modica, Aldo Rustichini
. We study preferences over Savage acts where the decision maker may assign extremely low probability to some states and some of the consequences may be extreme. In particular we are interested in...
Capital and inventory investment : essays in stochastic economic theory. (1987)
Thesis (Ph. D.)--University of Cambridge, 1987.
Credit Market Failures and Policy
Enrico Minelli, Salvatore Modica
In a simplified version of the Stiglitz–Weiss (1981) model of the credit market we characterize optimal policies to correct market failures. Widely applied policies, notably interest–rate...
The convexity-cone approach to comparative risk and downside risk.
Salvatore Modica, Marco Scarsini
Based on Jewitt (1986) we try to find a characterization of comparative downside risk aversion and love. The desired characterizations involve the decomposition of the dual of the intersection of two...
A neo bayesian foundation of the maximin value for two-person zero- sum games
Hart,Sergui, Modica,Salvatore, Schmeidler,David
Zero-sum games,Decision theory,Game theory,Matrix games Utility theory,
Unawareness and bankruptcy: A general equilibrium model
Salvatore Modica, Aldo Rustichini
We present a consistent pure-exchange general equilibrium model where agents may not be able to foresee all possible future contingencies. In this context, even with nominal assets and complete asset...
Unawareness, priors and posteriors
Awareness of Unawareness, Model Uncertainty, D83, C11, 91B06, 91B44, 62C10,
A Neo[superscript]2 Bayesian Foundation of the Maxmin Value for Two-Person Zero-Sum Games.
Hart, Sergiu, Modica, Salvatore, Schmeidler, David
A joint derivation of utility and value for two-person zero-sum games is obtained using a decision theoretic approach. Acts map states to consequences. The latter are lotteries over prizes, and the...
Credit market failures and policy
MINELLI, Enrico, MODICA, Salvatore
In a simple model of the credit market, based on Stiglitz-Weiss (1981), equilibria are computed and optimal policies to correct market failures are characterized. Some widely applied policies,...
Asset trading with informed price makers
The present paper analyses existence and structure of revealing equilibria of a game which models the asset-trading interaction between a risk-neutral informed price-making agent and an uninformed...
Credit Market Failures and Policy
ENRICO MINELLI, SALVATORE MODICA
In a simplified version of the Stiglitz and Weiss (1981) model of the credit market we characterize optimal policies to correct market failures. Widely applied policies, notably interest-rate...
Valentino Dardanoni, Salvatore Modica, Aline Pennsi
This paper reports some facts about grading standards across a varied sample of 16 countries participating in the 2003 OCSE-PISA Survey. Our main finding is that in all countries except Ireland and...
The Simpson paradox of school grading in Italy
Dardanoni, Valentino, Modica, Salvatore, Pennisi, Aline
Data from the 2003 OECD-PISA Survey for Italy reveal a striking difference in the relationship between students' competence (as measured by PISA score in Mathematics) and school grades across...
Regression with Imputed Covariates:a Generalized Missing Indicator Approach
Valentino Dardanoni, Salvatore Modica, Franco Peracchi
A common problem in applied regression analysis is that covariate values may be missing for some observations but imputed values may be available. This situation generates a trade-off between bias...
Valentino Dardanoni, Salvatore Modica, Aline Pennsi
This paper reports some facts about grading standards across a varied sample of 16 countries participating in the 2003 OCSE-PISA Survey. Our main finding is that in all countries except Ireland and...