Related papers: On the stability of utilitarian aggregation
We consider a family of conditional nonlinear expectations defined on the space of bounded random variables and indexed by the class of all the sub-sigma-algebras of a given underlying sigma-algebra. We show that if this family satisfies a…
We revisit the definition and some of the characteristics of quadratic theories of gravity with torsion. We start from the most general Lagrangian density quadratic in the curvature and torsion tensors. By assuming that General Relativity…
We consider goodness-of-fit methods for multivariate symmetric and asymmetric stable Paretian random vectors in arbitrary dimension. The methods are based on the empirical characteristic function and are implemented both in the i.i.d.…
Incomplete preferences provide the epistemic foundation for models of imprecise subjective probabilities and utilities that are used in robust Bayesian analysis and in theories of bounded rationality. This paper presents a simple…
We obtain the matter-graviton scattering amplitude in the gravitational theory of quadratic curvature, which has $R_{\mu\nu}^2$ term in the action. Unitarity bound is not satisfied because of the existence of negative norm states, while an…
This paper examines optimal risk sharing for empirically realistic risk attitudes, providing results on Pareto optimality, competitive equilibria, utility frontiers, and the first and second theorems of welfare. Contrary to common…
The notion of von Neumann equivalence (vNE), which encapsulates both measure equivalence and $W^*$-equivalence, was introduced recently by Jesse Peterson, Lauren Ruth and the author. They showed that many analytic properties, such as…
This paper gives a constructive treatment of McKenzie's theorem on the existence of general equilibria. While the full theorem does not admit a constructive proof, and hence does not admit a computational realisation, we show that if we…
We generalize the Arrow's impossibility theorem--a key result in social choice theory--to the setting where the arity $k$ of the relation under consideration is greater than $2$. Some special but natural properties of $k$-ary relations are…
Using unitarity, analyticity and crossing symmetry, we derive universal sum rules for scattering amplitudes in theories invariant under an arbitrary symmetry group. The sum rules relate the coefficients of the energy expansion of the…
In this paper we extend the stability results of [4]}. Our utility maximization problem is defined as an essential supremum of conditional expectations of the terminal values of wealth processes, conditioned on the filtration at the…
Complexity of the problem of choosing among uncertain acts is a salient feature of many of the environments in which departures from expected utility theory are observed. I propose and axiomatize a model of choice under uncertainty in which…
We define a natural notion of higher order stability and show that subsets of $\mathbb{F}_p^n$ that are tame in this sense can be approximately described by a union of low-complexity quadratic varieties, up to linear error. This generalizes…
In this paper, we obtain sufficient conditions in terms of projective criteria under which the partial sums of a stationary process with values in ${\mathcal{H}}$ (a real and separable Hilbert space) admits an approximation, in…
Following the ideas of effective field theories, we derive classically effective field equations of recently developed Lorentz gauge theory of gravity. It is shown that Newton's gravitational constant emerges as an effective coupling…
Situations where a group of agents come together to jointly buy a resource that they individually cannot afford to buy are commonly observed in markets. For example in the US market for radio spectrum, a recent proposal invited small firms…
This paper proposes two approaches that quantify the exact relationship among the viability, the absence of arbitrage, and/or the existence of the num\'eraire portfolio under minimal assumptions and for general continuous-time market…
We introduce the relative Haagerup approximation property for a unital, expected inclusion of arbitrary von Neumann algebras and show that if the smaller algebra is finite then the notion only depends on the inclusion itself, and not on the…
We study approximation in the unit interval by rational numbers whose numerators are selected randomly with certain probabilities. Previous work showed that an analogue of Khintchine's Theorem holds in a similar random model and raised the…
When the number of subjects, $n$, is large, paired comparisons are often sparse. Here, we study statistical inference in a class of paired comparison models parameterized by a set of merit parameters, under an Erd\"{o}s--R\'{e}nyi…