In questa conferenza, vengono esposte le idee essenziali che stanno alla base del classico problema di gestire un portafoglio in modo da rendere massima l'utilità media. I metodi tipici del controllo stocastico sono confrontati con le idee della dualità convessa infinito-dimensionale.
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...
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...
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...
In this paper, we develop the concept of almost stochastic dominance for higher order preferences and investigate the related properties of this concept.
We consider a non-consuming agent investing in a stock and a money market interested in the portfolio market price far in the future. We derive a strategy which is almost log-optimal in the long run in the presence of small proportional transaction costs for the case when the rate of return and the volatility of the stock market price are bounded It o processes with bounded coefficients and when the volatility is bounded away from zero.
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...
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.
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,...
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...