Algorithms for dynamic negotiation.
Algunos progresos y problemas en la Ciencia de la decisión.
The study of decision making and problem solving has attracted much attention. Since the middle of this century the notion of rational decision making was associated with expected utility maximization, albeit in a very different way than D. Bernoulli (1738) envisioned. For decisions under risk, Von Neumann and Morgenstern (1947) formulated the axioms for expected utility. For decisions under uncertainty Savage (1954) developed the axioms leading simultaneously to subjective probability and expected...
Allocating servers to facilities, when demand is elastic to travel and waiting times
Public inoculation centers are examples of facilities providing service to customers whose demand is elastic to travel and waiting time. That is, people will not travel too far, or stay in line for too long to obtain the service. The goal, when planning such services, is to maximize the demand they attract, by locating centers and staffing them so as to reduce customers’ travel time and time spent in queue. In the case of inoculation centers, the goal is to maximize the people that travel to the...
Allocating servers to facilities, when demand is elastic to travel and waiting times
Public inoculation centers are examples of facilities providing service to customers whose demand is elastic to travel and waiting time. That is, people will not travel too far, or stay in line for too long to obtain the service. The goal, when planning such services, is to maximize the demand they attract, by locating centers and staffing them so as to reduce customers' travel time and time spent in queue. In the case of inoculation centers, the goal is to maximize the people that travel to the...
Almost Higher Order Stochastic Dominance
In this paper, we develop the concept of almost stochastic dominance for higher order preferences and investigate the related properties of this concept.
Alternative model of fuzzy NTU coalitional game
One of the possible models of fuzzification of non-transferable utility (NTU) coalitional games was extensively treated in [4]. In this paper, we suggest an alternative structure of fuzzification of the NTU games, where for every coalition a fuzzy class of (generally crisp) sets of its admissible pay-off vectors is considered. It is shown that this model of a fuzzy coalitional game can be represented by a fuzzy class of deterministic NTU games, and its basic concepts like the superadditivity or...
American prices embedded in european prices
Amplitude of weighted majority game strict representations.
Some real situations which may be described as weighted majority games can be modified when some players increase or decrease their weights and/or the quota is modified. Nevertheless, some of these modifications do not change the game. In the present work we shall estimate the maximal percentage variations in the weights and the quota which may be allowed without changing the game (amplitude). For this purpose we have to use strict representations of weighted majority games.
An Algorithm for the Detection of Move Repetition Without the Use of Hash-Keys
An alternative approach to bonus malus
Under the assumptions of an open portfolio, i.e., considering that a policyholder can transfer his policy to another insurance company and the continuous arrival of new policyholders into a portfolio which can be placed into any of the bonus classes and not only in the "starting class", we developed a model (Stochastic Vortices Model) to estimate the Long Run Distribution for a Bonus Malus System. These hypothesis render the model quite representative of the reality. With the obtained Long Run Distribution,...
An Alternative Efficient Chessboard Representation Based on 4-Bit Piece Coding
An American convert close to maturity.
An analytic solution for a Vasicek interest rate convertible bond model.
An analytical study of the -person prisoners' dilemma.
An application framework to systematically develop complex learning resources based on collaborative knowledge engineering
This contribution proposes software infrastructure to support new types of learning methodologies and resources based on collaborative knowledge engineering by means of an innovative application framework called the virtualized collaborative sessions framework (VCSF). The VCSF helps meet challenging collaborative knowledge engineering requirements in online learning, such as increasing group members' learning performance during the on-line collaborative learning process. In turn, systematic application...
An application of dynamic programming principle in corporate international optimal investment and consumption choice problem.
An application of fixed-point theory to equilibrium analysis
An approach to the solution of a conflict situation with participants
An Approach to Wealth Modelling
2000 Mathematics Subject Classification: 60G48, 60G20, 60G15, 60G17. JEL Classification: G10The change in the wealth of a market agent (an investor, a company, a bank etc.) in an economy is a popular topic in finance. In this paper, we propose a general stochastic model describing the wealth process and give some of its properties and special cases. A result regarding the probability of default within the framework of the model is also offered.
An approximation formula for the price of credit default swaps under the fast-mean reversion volatility model
We consider the pricing of credit default swaps (CDSs) with the reference asset assumed to follow a geometric Brownian motion with a fast mean-reverting stochastic volatility, which is often observed in the financial market. To establish the pricing mechanics of the CDS, we set up a default model, under which the fair price of the CDS containing the unknown “no default” probability is derived first. It is shown that the “no default” probability is equivalent to the price of a down-and-out binary...