Related papers: Future-blindness and the product topology
This paper considers the portfolio management problem of optimal investment, consumption and life insurance. We are concerned with time inconsistency of optimal strategies. Natural assumptions, like different discount rates for consumption…
We explore intertemporal preferences that are recursive and account for local intertemporal substitution. First, we establish a rigorous foundation for these preferences and analyze their properties. Next, we examine the associated optimal…
We introduce an infinite-horizon, continuous-time portfolio selection problem faced by an agent with periodic S-shaped preference and present bias. The inclusion of a quasi-hyperbolic discount function leads to time-inconsistency and we…
Decision Focused Learning has emerged as a critical paradigm for integrating machine learning with downstream optimisation. Despite its promise, existing methodologies predominantly rely on probabilistic models and focus narrowly on task…
We initiate an investigation into the optimization properties of next-token prediction (NTP), the dominant training paradigm for modern language models. Specifically, we study the structural properties of the solutions selected by…
In recommender systems, modeling user-item behaviors is essential for user representation learning. Existing sequential recommenders consider the sequential correlations between historically interacted items for capturing users' historical…
We present a graph-theoretic model of consumer choice, where final decisions are shown to be influenced by information and knowledge, in the form of individual awareness, discriminating ability, and perception of market structure. Building…
What will the future be? We wonder! In this survey, we explore the gap between current research in egocentric vision and the ever-anticipated future, where wearable computing, with outward facing cameras and digital overlays, is expected to…
This paper solves the consumption-investment problem under Epstein-Zin preferences on a random horizon. In an incomplete market, we take the random horizon to be a stopping time adapted to the market filtration, generated by all observable,…
This survey reviews recent developments in revealed preference theory. It discusses the testable implications of theories of choice that are germane to specific economic environments. The focus is on expected utility in risky environments;…
Tasks that require information about the world imply a trade-off between the time spent on observation and the variance of the response. In particular, fast decisions need to rely on uncertain information. However, standard estimates of…
We develop a duality theory for the problem of maximising expected lifetime utility from inter-temporal wealth over an infinite horizon, under the minimal no-arbitrage assumption of No Unbounded Profit with Bounded Risk (NUPBR). We use only…
We study the trade-off between envy and inefficiency in repeated resource allocation settings with stochastic replenishments, motivated by real-world systems such as food banks and medical supply chains. Specifically, we consider a model in…
Active consumer participation is seen as an integral part of the emerging smart grid. Examples include demand-side management programs, incorporation of consumer-owned energy storage or renewable energy units, and active energy trading.…
In recommendation settings, there is an apparent trade-off between the goals of accuracy (to recommend items a user is most likely to want) and diversity (to recommend items representing a range of categories). As such, real-world…
We model learning in a continuous-time Brownian setting where there is prior ambiguity. The associated model of preference values robustness and is time-consistent. It is applied to study optimal learning when the choice between actions can…
We identify troubling cases of so-called `permanent underdetermination' in both dark energy and inflationary cosmology. We bring to bear (a) a taxonomy of possible responses to underdetermination, and (b) an understanding of both dark…
We develop a unified analysis of how information captures attention. A decision maker (DM) faces a dynamic information structure and decides when to stop paying attention. We characterize the convex$\unicode{x2013}$order frontier and…
We establish a rigorous duality theory, under No Unbounded Profit with Bounded Risk, for an infinite horizon problem of optimal consumption in the presence of an income stream that can terminate randomly at an exponentially distributed…
Contrastive representation learning has emerged as a promising technique for continual learning as it can learn representations that are robust to catastrophic forgetting and generalize well to unseen future tasks. Previous work in…