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Full-Text Articles in Social and Behavioral Sciences
Should Voting Be Mandatory? Democratic Decision Making From The Economic Viewpoint, Olga Kosheleva, Vladik Kreinovich, Boakun Li
Should Voting Be Mandatory? Democratic Decision Making From The Economic Viewpoint, Olga Kosheleva, Vladik Kreinovich, Boakun Li
Departmental Technical Reports (CS)
Many decisions are made by voting. At first glance, the more people participate in the voting process, the more democratic -- and hence, better -- the decision. In this spirit, to encourage everyone's participation, several countries make voting mandatory. But does mandatory voting really make decisions better for the society? In this paper, we show that from the viewpoint of decision making theory, it is better to allow undecided voters not to participate in the voting process. We also show that the voting process would be even better -- for the society as a whole -- if we allow partial …
Why Clayton And Gumbel Copulas: A Symmetry-Based Explanation, Vladik Kreinovich, Hung T. Nguyen, Songsak Sriboonchitta
Why Clayton And Gumbel Copulas: A Symmetry-Based Explanation, Vladik Kreinovich, Hung T. Nguyen, Songsak Sriboonchitta
Departmental Technical Reports (CS)
In econometrics, many distributions are non-Gaussian. To describe dependence between non-Gaussian variables, it is usually not sufficient to provide their correlation: it is desirable to also know the corresponding copula. There are many different families of copulas; which family shall we use? In many econometric applications, two families of copulas have been most efficient: the Clayton and the Gumbel copulas. In this paper, we provide a theoretical explanation for this empirical efficiency, by showing that these copulas naturally follow from reasonable symmetry assumptions. This symmetry justification also allows us to provide recommendations about which families of copulas we should use …