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Many researchers tried to understand/explain the geometric reasons for paradoxical mobility of a mechanical linkage, i.e. the situation when a linkage allows more motions than expected from counting parameters and constraints. Bond theory…
We introduce judgemental theories and their calculi as a general framework to present and study deductive systems. As an exemplification of their expressivity, we approach dependent type theory and natural deduction as special kinds of…
We look more carefully at the modeling of causality using structural equations. It is clear that the structural equations can have a major impact on the conclusions we draw about causality. In particular, the choice of variables and their…
We study the problem of determining risk-minimizing investment strategies for insurance payment processes in the presence of taxes and expenses. We consider the situation where taxes and expenses are paid continuously and symmetrically and…
We propose a general framework for the simultaneous modeling of equity, government bonds, corporate bonds and derivatives. Uncertainty is generated by a general affine Markov process. The setting allows for stochastic volatility, jumps, the…
The aim of the present article is to treat the Greek public debt issue strictly as a curve fitting problem. Thus, based on Eurostat data and using the Mathematica technical computing software, an exponential function that best fits the data…
Incorporating constraints is a major concern in probabilistic machine learning. A wide variety of problems require predictions to be integrated with reasoning about constraints, from modelling routes on maps to approving loan predictions.…
In this paper we provide a comprehensive analysis of a structural model for the dynamics of prices of assets traded in a market originally proposed in [1]. The model takes the form of an interacting generalization of the geometric Brownian…
We introduce a new model for pricing corporate bonds, which is a modification of the classical model of Merton. In this new model, we drop the liquidity assumption of the firm's asset value process, and assume that there is a liquidly…
Among the various factors affecting the firms positioning and performance in modern day markets, capital structure of the firm has its own way of expressing itself as a crucial one. With the rapid changes in technology, firms are being…
Blockchain is a disruptive technology intended at implementing secure decentralized distributed systems, in which transactional data can be shared, stored and verified by participants of a system using cryptographic and consensus…
Dependability is an umbrella concept that subsumes many key properties about a system, including reliability, maintainability, safety, availability, confidentiality, and integrity. Various dependability modeling techniques have been…
A multi-dimensional extension of the structural default model with firms' values driven by diffusion processes with Marshall-Olkin-inspired correlation structure is presented. Semi-analytical methods for solving the forward calibration…
This paper provides a compositional approach to Taylor expansion, in the setting of cartesian differential categories. Taylor expansion is captured here by a functor that generalizes the tangent bundle functor to higher order derivatives.…
We present cross and time series analysis of price fluctuations in the U.S. Treasury fixed income market. By means of techniques borrowed from statistical physics we show that the correlation among bonds depends strongly on the maturity and…
The long lifetime and the evolving nature of industrial products make them subject to technical debt at different levels. Despite multiple years of research on technical debt management, our industrial experience shows that introducing…
In this paper is proposed a 2 factor structural PDE model of pricing puttable bond with credit risk and derived the analytical pricing formula. To this end, first, a 2 factor structural (PDE) model of pricing zero coupon bond with credit…
The option is a financial derivative, which is regularly employed in reducing the risk of its underlying securities. However, investing in option is still risky. Such risk becomes much severer for speculators who utilize option as a means…
The service paradigm as we know it has gone through a long journey of evolution and improvement, and it seems that a service-oriented vision to activities in general could serve as a potential platform for the global transition to a…
This paper studies the viability of making a country a developmental state. In particular it studies the characteristics of a developmental state and how they are linked to technology. It then identifies technical education, as a vital…