111,871 research outputs found
Povertà e potere. Un corpo a corpo
No full textThe question that moves this essay is whether there is an opposite of power, which is not non-power as a simple negation, but its opposite. If it is possible to fight against power without submitting to its essence. Poverty could be interpreted in this sense, as a form of conscious dispossession of the will to dominate
Joining Diversification and Optimization for Asset Allocation
No full textThe classical approach to portfolio selection calls for finding a feasible portfolio that
optimizes one of the several proposed risk measures, or (expected) utility functions,
or performance indexes. However, the optimization approach might be misleading
due to the difficulty of obtaining good estimates for the parameters involved in thefunction to be optimized and to the high sensitivity of the optimal solutions to the
input data.
This observation has led some researchers to claim that a straightforward capital
diversification, i.e., the Equally Weighted portfolio can hardly be beaten by an optimized
portfolio [3]. However, if the market contains assets with very different
intrinsic risks, then this leads to a portfolio with limited total risk diversification.
Therefore, alternative risk diversification approaches to portfolio selection have been
proposed, such as the practitioners’ approach of taking weights proportional to 1/σi
,
where σi
is the volatility of asset i. A more thorough approach to risk diversification
requires to formalize the notion of risk contribution of each asset, and then to manage
it by a model. For example the Risk Parity approach (see [5], and references therein)
aims at a portfolio where the total risk contributions of all assets are equal among
them [4]. The original risk parity approach was applied to volatility. However alternative
risk measures can also be considered (see, e.g., [1]). It can also be shown that
the Risk Parity approach is actually dominated by Equal Risk Bounding [2], where
the total risk contributions of all assets are bounded by a common threshold which is
then minimized. Furthermore, several alternative approaches to diversify risk have
recently appeared in the literature.
We propose here a new approach that tries to reduce the impact of data estimation errors
and to join the benefits of the optimization and of the diversification approaches
by choosing the portfolio that is best diversified (e.g., Equally Weighted or Risk Parity)
on a subset of assets of the market, and that optimizes an appropriate risk, or
utility, or performance measure among all portfolios of this type. We show that this
approach yields portfolios that are only slightly suboptimal in-sample, and generally
show improved out-of-sample performance with respect to their purely diversified or
purely optimized counterparts.
[1] Cesarone F, Colucci S (2015) Minimum Risk vs. Capital and Risk Diversification
Strategies for Portfolio Construction. Available at SSRN:
http://ssrncom/abstract=2552455
[2] Cesarone F, Tardella F (2016) Equal risk bounding is better than risk parity for
portfolio selection. Journal of Global Optimization pp 1–23
[3] DeMiguel V, Garlappi L, Uppal R (2009) Optimal versus naive diversification:
How inefficient is the 1/N portfolio strategy? Rev Financ Stud 22:1915–1953
[4] Maillard S, Roncalli T, Teiletche J (2010) The Properties of Equally Weighted
Risk Contribution Portfolios. J Portfolio Manage 36:60–70
[5] Roncalli T (2014) Introduction to risk parity and budgeting. Chapman &
Hall/CRC Financial Mathematics Series, CRC Press, Boca Raton, F
"Senza essere" e "privo di niente". L'essere e l'ente a partire dall'evento (Ereignis)/a partire dall'inizio (Anfang).
No full textI Trattati inediti degli anni Trenta e Quaranta propongono l'elaborazione della domanda sull'essere in maniera radicale, seguendo la stessa dinamica di superamento/involgimento dell'essere nella sua verità quale evento dell'inizio. In questo movimento di inabissamento dell'essere in direzione del carattere iniziale della sua essenza quale inizio è catturato anche l'ente e la sua differenza dall'essere. L'intento del contributo è quello di dar conto del modo in cui, soprattutto nei Trattati degli anni Quaranta ("Über Den Anfang" e "Das Ereignis"), Heidegger ripensi e ridefinisca il rapporto tra l'essere e l'ente
L'evento e la storia. Il lessico della forza nei "Trattati inediti"
No full textIl saggio indaga la connessione tra i termini che compongono il lessico della forza (Macht, Kraft, Machenschaft) nei Trattati inediti di Heidegger dal 1936 al 1944 come chiave per intendere la collocazione del pensiero heideggeriano rispetto agli eventi storici che prepararono e accompagnarono il secondo conflitto mondiale in Germania
author-bios-SRD-19-0063.R1 – Supplemental material for The Network Structure of Police Misconduct
No full textSupplemental material, author-bios-SRD-19-0063.R1 for The Network Structure of Police Misconduct by George Wood, Daria Roithmayr and Andrew V. Papachristos in Socius</p
“Die Sage des Seyns” nei Beiträge. La ricerca del dire originario tra parola e silenzio
No full textGoing Beyond Counting First Authors in Author Co-citation Analysis
No full textThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
No full text“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
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