Displaying similar documents to “Interactive approach based on stochastic dominance”

Principal-agent approach to environmental improvements policies

Wojciech Szatzschneider, Teresa Kwiatkowska (2010)

Banach Center Publications

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Successful solution to any environmental problem implies working with Knightian uncertainty that explicitly deals with decision making under conditions of unstructured randomness. A 'wild' type of randomness that we will never discern due to its unstable properties makes the assignment of corresponding probabilities impossible. For that reason, the consideration of general economical factors within cost/benefit analysis must fail. So, instead of governmental intervention and a cup and...

Reasons: belief support and goal dynamics.

Cristiano Castelfranchi (1996)

Mathware and Soft Computing

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The paper is devoted to the structural relation between beliefs and goals. I discuss its importance in modelling cognitive agents; its origin in cognitive processing; its structure (belief structure relative to a goal); its crucial role in rationality, mediating between epistemic and pragmatic rationality; its role in goal Dynamics. I stress the crucial contribution of the supporting beliefs to the Processing of goals; to the Revision of goals (or Dynamics in a narrow sense), i.e. the...

A repeated imitation model with dependence between stages: Decision strategies and rewards

Pablo J. Villacorta, David A. Pelta (2015)

International Journal of Applied Mathematics and Computer Science

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Adversarial decision making is aimed at determining strategies to anticipate the behavior of an opponent trying to learn from our actions. One defense is to make decisions intended to confuse the opponent, although our rewards can be diminished. This idea has already been captured in an adversarial model introduced in a previous work, in which two agents separately issue responses to an unknown sequence of external inputs. Each agent's reward depends on the current input and the responses...

Binary integer programming solution for troubleshooting with dependent actions

Václav Lín (2017)

Kybernetika

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We deal with a sequencing problem that arises when there are multiple repair actions available to fix a broken man-made system and the true cause of the system failure is uncertain. The system is formally described by a probabilistic model, and it is to be repaired by a sequence of troubleshooting actions designed to identify the cause of the malfunction and fix the system. The task is to find a course of repair with minimal expected cost. We propose a binary integer programming formulation...

The paradoxical place of small towns in sustainable development policies. What is beyond the images of “places where the living is easy”?

Hélène Mainet (2015)

Annales Universitatis Paedagogicae Cracoviensis Studia Geographica

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Sustainable development policies have become new objectives of local actions since the implementation of the notion in the 1990s. Small towns promote images of places where the living is easy and with sustainable amenities like “natural” living environment. But, beyond these perceptions, operational sustainable development policies are quite occasional. Taking a sample of French small towns in the Auvergne region as examples, it is interesting to analyse this paradox of an interesting...

Multistage risk premiums in portfolio optimization

Miloš Kopa, Barbora Petrová (2017)

Kybernetika

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This paper deals with a multistage stochastic programming portfolio selection problem with a new type of risk premium constraints. These risk premiums are constructed on the multistage scenario tree. Two ways of the construction are introduced and compared. The risk premiums are incorporated in the multistage stochastic programming portfolio selection problem. The problem maximizes the multivariate (multiperiod) utility function under condition that the multistage risk premiums are smaller...

Applications of time-delayed backward stochastic differential equations to pricing, hedging and portfolio management in insurance and finance

Łukasz Delong (2012)

Applicationes Mathematicae

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We investigate novel applications of a new class of equations which we call time-delayed backward stochastic differential equations. Time-delayed BSDEs may arise in insurance and finance in an attempt to find an investment strategy and an investment portfolio which should replicate a liability or meet a target depending on the strategy applied or the past values of the portfolio. In this setting, a managed investment portfolio serves simultaneously as the underlying security on which...