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Fuzzy versus probabilistic benefit/cost ratio analysis for public work projects

Cengiz Kahraman (2001)

International Journal of Applied Mathematics and Computer Science

The benefit/cost (B/C) ratio method is utilized in many government and public work projects to determine if the expected benefits provide an acceptable return on the estimated investment and costs. Many authors have studied probabilis- tic cash flows in recent years. They introduced some analytical methods which determine the probability distribution function of the net present value and in- ternal rate of return of a series of random discrete cash flows. They considered serially correlated cash...

Gain-loss pricing under ambiguity of measure

Mustafa Ç. Pınar (2010)

ESAIM: Control, Optimisation and Calculus of Variations

Motivated by the observation that the gain-loss criterion, while offering economically meaningful prices of contingent claims, is sensitive to the reference measure governing the underlying stock price process (a situation referred to as ambiguity of measure), we propose a gain-loss pricing model robust to shifts in the reference measure. Using a dual representation property of polyhedral risk measures we obtain a one-step, gain-loss criterion based theorem of asset pricing under ambiguity of...

Game saturation of intersecting families

Balázs Patkós, Máté Vizer (2014)

Open Mathematics

We consider the following combinatorial game: two players, Fast and Slow, claim k-element subsets of [n] = 1, 2, …, n alternately, one at each turn, so that both players are allowed to pick sets that intersect all previously claimed subsets. The game ends when there does not exist any unclaimed k-subset that meets all already claimed sets. The score of the game is the number of sets claimed by the two players, the aim of Fast is to keep the score as low as possible, while the aim of Slow is to postpone...

General Laws of Adaptation to Environmental Factors: from Ecological Stress to Financial Crisis

A. N. Gorban, E. V. Smirnova, T. A. Tyukina (2009)

Mathematical Modelling of Natural Phenomena

We study ensembles of similar systems under load of environmental factors. The phenomenon of adaptation has similar properties for systems of different nature. Typically, when the load increases above some threshold, then the adapting systems become more different (variance increases), but the correlation increases too. If the stress continues to increase then the second threshold appears: the correlation achieves maximal value, and start to decrease, but the variance continue to increase. In many...

Generalized Choquet spaces

Samuel Coskey, Philipp Schlicht (2016)

Fundamenta Mathematicae

We introduce an analog to the notion of Polish space for spaces of weight ≤ κ, where κ is an uncountable regular cardinal such that κ < κ = κ . Specifically, we consider spaces in which player II has a winning strategy in a variant of the strong Choquet game which runs for κ many rounds. After discussing the basic theory of these games and spaces, we prove that there is a surjectively universal such space and that there are exactly 2 κ many such spaces up to homeomorphism. We also establish a Kuratowski-like...

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