On the Necessity of Using Lottery Qualities

The aim of this paper is to propose a model of decision-making for lotteries. The key element of the theory is the use of lottery qualities. Qualities allow the derivation of optimal decision-making processes and are taken explicitly into account for lottery evaluation. Our contribution explains the major violations of the expected utility theory for decisions on two-point lotteries and shows the necessity of giving explicit consideration to the lottery qualities.Lottery choice, common ratio, preference reversal, pricing, lottery test, cognitive process, certainty equivalent, lottery quality

Ontario’s Green Energy “Fee”: The Trouble with Taxation through Regulation

Canadian provincial governments have broad authority to impose direct taxes by passing enabling legislation in their respective legislatures. Governments may also use regulation to set fees, for example, to recover the cost of services they provide, but cannot use regulation to impose taxes that raise general revenue. Doing so would be unconstitutional. Governments nonetheless sometimes attempt to raise revenue by imposing levies that are deliberately mislabelled as “fees” – past efforts to do so have exposed provincial governments to successful constitutional challenges. This e-brief examines problematic example: the Ontario government recently ordered the Ontario Energy Board to impose a “fee” to be used to fund activities of the Ministry of Energy and Infrastructure; this fee is quite likely an unconstitutional tax.Governance and Public Institutions, Ontario Energy Board, Independent Electricity System Operator (IESO), taxation, regulation, unconstitutional tax

Lottery Qualities

The aim of this paper is to propose a model of decision-making for lotteries. Lottery qualities are the key concepts of the theory. Qualities allow the derivation of optimal decision-making processes and are taken explicitly into account for lottery evaluation. Our contribution explains the major violations of the expected utility theory for decisions on two-point lotteries and shows the necessity of giving explicit consideration to lottery qualities. Judged certainty equivalent and choice certainty equivalent concepts are discussed in detail along with the comparison of lotteries. Examples are provided by using different test results in the literature.Lottery choice, common ratio, preference reversal, pricing, lottery test, cognitive process, certainty equivalent

Testing Explanations of Preference Reversal: a Model

When Cubitt, Munro and Starmer (2004) presented their new experimental investigation of preference reversal, they pointed out that their test results cannot be explained by any of the best-known explanations proposed by economists and psychologists. In this paper we propose a model based on lotteries qualities to explain these new test results.Standard preference reversal, counter preference reversal, choice task, money valuation task, probability valuation task, lottery, test

L’importance de la procédure dans les choix de loteries

À l’aide d’une revue de littérature, nous expliquons les motivations qui ont entraîné la création de la théorie de l’espérance d’utilité. Nous montrons que le passage de cette théorie du rôle d’outil normatif à celui de problème de recherche fondamentale est la conséquence de l’arrivée de nombreux tests encore non expliqués. Par la suite nous discutons de la pertinence de considérer la procédure employée par le décideur comme étant le point important à la base des modèles.Using a literature review we explain the motivations for the elaboration of expected utility theory. We show that the transformation of the role of this theory from being a normative tool to become a fundamental research problem is due to the numerous tests not yet explained. Then we discuss on the relevance of considering the procedure used by the decision maker to be the basic concept

L’importance de la procédure dans les choix de loteries

Using a literature review we explain the motivations for the elaboration of expected utility theory. We show that the transformation of the role of this theory from being a normative tool to become a fundamental research problem is due to the numerous tests not yet explained. Then we discuss on the relevance of considering the procedure used by the decision maker to be the basic concept. À l’aide d’une revue de littérature, nous expliquons les motivations qui ont entraîné la création de la théorie de l’espérance d’utilité. Nous montrons que le passage de cette théorie du rôle d’outil normatif à celui de problème de recherche fondamentale est la conséquence de l’arrivée de nombreux tests encore non expliqués. Par la suite nous discutons de la pertinence de considérer la procédure employée par le décideur comme étant le point important à la base des modèles.

Information Sharing Solutions for Nato Headquarters

NATO is an Alliance of 26 nations that operates on a consensus basis, not a majority basis. Thorough and timely information exchange between nations is fundamental to the Business Process. Current technology and practices at NATO HQ are inadequate to meet modern-day requirements despite the availability of demonstrated and accredited Cross-Domain technology solutions. This lack of integration between networks is getting more complicated with time, as nations continue to invest in IT and ignore the requirements for inter-networked gateways. This contributes to inefficiencies, fostering an atmosphere where shortcuts are taken in order to get the job done. The author recommends that NATO HQ should improve its presence on the Internet, building on the desired tenets of availability and security