1,721,231 research outputs found
Multi-agent dynamic financial portfolio management: a differential game approach
No full textIn this paper we extend the classical Merton model to the case of several players and we propose a multi-agent Merton-type portfolio optimization model formulated by means of differential games. Each player is price-taker and invests on the market in order to maximize her inter-temporal utility. On the market there are p different assets, p-1 of them are risky and their price are generated by a geometric Brownian motion, while one is risk-free. We discuss the non-cooperative and cooperative case and show the existence of a closed-form solution when the class of CRRA utility functions is assumed for both infinite and finite time horizon. We perform a numerical study which illustrates that a cooperative strategy is preferable to a non-cooperative one as it allows for the adoption of optimal strategies from both players. Non-cooperation, instead, leads to sub-optimal solutions
Commentary: A simple technique for endoscopic hypothalamic hamartoma disconnection in refractory epilepsy: 2-dimensional operative video
No full textComment on
A Simple Technique for Endoscopic Hypothalamic Hamartoma Disconnection in Refractory Epilepsy: 2-Dimensional Operative Video.
Budke M, Pérez-Jiménez MÁ, Mena-Bernal JH.
Oper Neurosurg (Hagerstown). 2020 Aug 1;19(2):E159-E160. doi: 10.1093/ons/opaa055.
PMID: 3224354
Optimal sequential sampling rules for the economic evaluation of health technologies
No full textReferring to the literature on optimal stopping under sequential sampling developed by Chernoff and collaborators, we present a dynamic model of the evaluation of a new health technology, deriving optimal rules for research abandonment and continuation and technology adoption as functions of sample size. We explore the model's applicability in a preliminary analysis of the economic evaluation of Drug Eluting Stents (DES). A key finding is that referring to a single cost-effectiveness threshold, irrespective of other economic dimensions to the decision, may be sub-optimal
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