This paper presents a new lower bound for the recursive algorithm for solving parity games which is induced by the constructive proof of memoryless determinacy by Zielonka. We outline a family of games of linear size on which the algorithm requires exponential time.
This paper presents a new lower bound for the recursive algorithm for solving parity games which is induced by the constructive proof of memoryless determinacy by Zielonka. We outline a family of games of linear size on which the algorithm requires exponential time.
En este artículo revisamos los conceptos de equilibrio perfecto y propio para juegos en forma normal y obtenemos un refinamiento del equilibrio perfecto.
En este trabajo introducimos la extensión generalizada de un jungo n-personal finito en forma normal y, en dicho contexto, damos un concepto de equilibrio y algunos refinamientos estables de él. Se indican casos particulares de notable interés.
Refining previously known estimates, we give large-strike asymptotics for the implied volatility of Merton's and Kou's jump diffusion models. They are deduced from call price approximations by transfer results of Gao and Lee. For the Merton model, we also analyse the density of the underlying and show that it features an interesting "almost power law" tail.
Motivated by classical considerations from risk theory, we investigate boundary crossing problems for refracted Lévy processes. The latter is a Lévy process whose dynamics change by subtracting off a fixed linear drift (of suitable size) whenever the aggregate process is above a pre-specified level. More formally, whenever it exists, a refracted Lévy process is described by the unique strong solution to the stochastic differential equation dUt=−δ1{Ut>b} dt+dXt, where X={Xt : t≥0} is a Lévy...
Sequential scoring rules are multi-stage social choice tules that work as follows: at each stage of the process, a score is computed for each alternative by taking into account its position in the individual preference rankings, and the alternative with the lowest score is eliminated. The current paper studies the ability of these rules for choosing the Condorcet winner (or the strong Condorcet winner) when individual preferences are single-peaked.
We study a form of optimal transportation surplus functions which arise in hedonic pricing models. We derive a formula for the Ma–Trudinger–Wang curvature of these functions, yielding necessary and sufficient conditions for them to satisfy (A3w). We use this to give explicit new examples of surplus functions satisfying (A3w), of the form b(x,y) = H(x + y) where H is a convex function on ℝn. We also show that the distribution of equilibrium contracts in this hedonic pricing model is absolutely continuous...
We describe a new model of multiple reinsurance. The main idea is that the reinsurance premium is paid conditionally. It is motivated by some analysis of the ultimate price of the reinsurance contract. For simplicity we assume that the underlying risk pricing functional is the L₂-norm. An unexpected relation to the general theory of sample regularity of stochastic processes is given.