2,716 research outputs found
Comment on "Bayesian Analysis of Pentaquark Signals from CLAS Data" - Ireland and Protopopescu reply
No full textNash Equilibrium Strategies in Discrete-Time Finite-Horizon Dynamic Games with Risk-and Effort-Averse Players
No full textThe objective of this paper is to re-examine the risk-and effort attitude in the context of strategic dynamic interactions stated as a discrete-time finite-horizon Nash game. The analysis is based on the assumption that players are endogenously risk-and effort-averse. Each player is characterized by distinct risk-and effort-aversion types that are unknown to his opponent. The goal of the game is the optimal risk-and effort-sharing between the players. It generally depends on the individual strategies adopted and, implicitly, on the the players' types or characteristics.Dynamic Nash game, optimal path, closed-loop control, endogenous risk-and effort-aversion, adaptive risk-and effort management, optimal risk-and effort-sharing.
Évaluation de risques controversés par la théorie des options réelles
No full textAssessing Controversial Risks Using Real Options Theory
by Robert Kast, André Lapied, Sophie Pardo and Camelia Protopopescu
Public decision-making and risk assessment in such fields as environmental risk, industrial risk, disaster insurance, and health and unemployment insurance require dynamics to be taken into account and generally give rise to controversy. In order to use real options theory for these fields, we propose methods for constructing a virtual underlying security on the basis of a portfolio of traded assets. Real options theory will take care of dynamic aspects of the decision-making process while construction of the virtual underlying security takes account of various levels of controversy. Key-words : Real options, risks, collective choice, functional correlation coefficient, Kendall’s tau coefficent. JEL Classification : C13, C14, D81, G12, L32.Les problèmes de décision publique et l'évaluation de risques pour l'environnement, les risques industriels, l'assurance des catastrophes, de la santé et du chômage, etc., nécessitent de prendre en compte les aspects dynamiques et suscitent généralement des controverses. Afin d'utiliser la théorie des options réelles dans ces situations, nous proposons des méthodes de construction d'un sous-jacent virtuel à partir d''un portefeuille d'actifs négociés. La théorie des options réelles permet de prendre en compte la dynamique du processus de décision tandis que la construction du sous-jacent intègre différents niveaux de controverses. Mots-clés : Options réelles, risques, choix collectifs, coefficient de corrélation fonctionnelle, coefficient de Kendall. Classification JEL : C13, C14, D81, G12, L32.Kast Robert, Lapied André, Pardo Sophie, Protopopescu Camélia. Évaluation de risques controversés par la théorie des options réelles. In: Économie & prévision, n°149, 2001-3. Options Réelles. pp. 51-63
Improving the Effort Concept: A Revision of the Traditional Approach in the Context of Controlled Dynamic Stochastic Environments
No full textThe objective of this paper is to re-evaluate the attitude to effort of a risk-averse decision- maker in an evolving environment. In the classical analysis, the space of efforts is generally discretized. More realistic, this new approach employes a continuum of effort levels. The pres- ence of multiple possible efforts and performance levels provide a better basis for explaining real economic phenomena. In the context of a principal-agent relationship, not only the incentives of the Principal can determine the private agent to exert a good effort, but also the evolution of the dynamic system. The dynamic incentives can be ineffective when the environment does not sufficiently incite the agent to allocate effort. This possible scenario explains why some efficient strategic incentive-compatible constraints that cover the entire period of contract do not generally exist. The proposed approach offers an elegant study of the close relationship between behavior, attitude and effort allocation.Rational decision-maker, endogenous dynamic learning, adaptive effort management, optimal effort threshold, effort aversion, excessive effort behavior.
Optimal Feedback Control Rules Sensitive to Controlled Endogenous Risk-Aversion
No full textThe objective of this paper is to correct and improve the results obtained by Van der Ploeg (1984a, 1984b) and utilized in the literature related to feedback stochastic optimal control sensitive to constant exogenous risk-aversion (Karp 1987; Whittle 1989, 1990; Chow 1993, amongst others). More realistic, the proposed approach deals with endoge- nous risks that are under the control of the decision-maker. It has strong implications on the policy decisions adopted by the decision-maker during the entire planning horizon.Controlled stochastic environment, rational decision-maker, adaptive control, optimal path, feedback optimal strategy, endogenous risk-aversion, dynamic active learning.Controlled stochastic environment, rational decision-maker, adaptive control, optimal path, feedback optimal strategy, endogenous risk-aversion, dynamic active learning.
Dominance relations and universities ranking
No full textThis paper proposes a theory for establishing dominance relations between universities on the basis of their scientific production and the number of citations their publications received in given time window. We apply this theory to the ranking of French Universities.Ranking; dominance relations; citations
Recommended from our members
Study of K/sup +/K/sub s/. pi. /sup -/ final state produced by. pi. /sup -/ and anti p beams
No full textWe observe the production of D and E mesons in the reactions ..pi../sup -/p ..-->.. K/sup +/K/sub s/..pi../sup -/n at 8 GeV/c and anti pp ..-->.. K/sup +/K/sub s/..pi../sup -/ + X at 6.5 GeV/c. A qualitative study of the Dalitz plot indicates that, unlike the D mesons, the E mesons observed in the ..pi../sup -/p induced reaction have different decay characteristics from those observed in the anti pp induced reaction. 7 references
How Should Research Performance Be Measured? A Study of Swedish Economists
No full textBillions of euros are allocated every year to university research. Increased specialisation and international integration of research and researchers has sharply raised the need for comparisons of performance across fields, institutions and individual researchers. However, there is still no consensus regarding how such rankings should be conducted and what output measures are appropriate to use. We rank all full professors in a particular discipline, economics, in one European nation using seven established, and some of them commonly used, measures of research performance. Our examination shows both that the rank order can vary greatly across measures, and that depending on the measure used the distribution of total research out-put is valued very differently. The renowned KMS measure in economics stands out among the measures analysed here. It exhibits the weakest correlation with the others used in our study. We conclude by giving advice to funding councils and others assessing research quality on how to think about the use of both quantitative and qualitative measures of performance.Impact of research; Ranking; Research productivity; Bibliometrics; Impact Factor
How Should Research Performance be Measured? A Study of Swedish Economists
No full textBillions of dollars are allocated every year to university research. Increased specialisation and international integration of research and researchers has sharply raised the need for comparisons of performance across fields, institutions and individual researchers. However, there is still no consensus regarding how such rankings should be conducted and what output measures are appropriate to use. We rank all full professors in a particular discipline, economics, in one country using seven established, and some of them commonly used, meas-ures of research performance. Our examination shows both that the rank order can vary greatly across measures, and that depending on the measure used the distribution of total research output is valued very differently.Impact of Research; Ranking; Research Output; Research Productivity; Bibliometrics; Google Scholar; h-index; Impact Factor; SSCI
Recommended from our members
Search for top quark with D0 detector
No full textWe report preliminary results of a search for the top quark by the D{O} collaboration at the Fermilab Tevatron p{bar p} collider using a data sample corresponding to an integrated luminosity of about 7.5 pb{sup {minus}1}. Events with a high p{sub T} isolated electron and large missing E{sub T} which are candidates for containing W bosons were studied. Only one vent was found having an additional isolated lepton. Combining the ee and e{mu} channels we set a lower limit of 99 GeV/c{sup 2} for the top quark mass
- …
