Related papers: Possible mathematical formulation of liquidity pre…
A calculational approach in fluid turbulence is presented. Use is made of the attracting nature of the fluid-dynamic dynamical system. An approximate approach is offerred that effectively propagates the statistics in time. Loss of…
The purpose of this paper is to present a mathematical theory that can be used as a foundation for statistics that include improper priors. This theory includes improper laws in the initial axioms and has in particular Bayes theorem as a…
We extend Berge's Maximum Theorem to allow for incomplete preferences. We first provide a simple version of the Maximum Theorem for convex feasible sets and a fixed preference. Then, we show that if, in addition to the traditional…
A structure called a decision making problem is considered. The set of outcomes (consequences) is partially ordered according to the decision maker's preferences. The problem is how these preferences affect a decision maker to prefer one of…
The binary relation framework has been shown to be applicable to many real-life preference handling scenarios. Here we study preference contraction: the problem of discarding selected preferences. We argue that the property of minimality…
Fuzziness and randomicity widespread exist in natural science, engineering, technology and social science. The purpose of this paper is to present a new logic - uncertain propositional logic which can deal with both fuzziness by taking…
We study the possibility that galactic rotation curves can be explained by a gravitational potential that contains a linear term as well as a Newtonian one. This hypothesis, suggested by conformal gravity, does allow good fits to the…
Complexity theory is a useful tool to study computational issues surrounding the elicitation of preferences, as well as the strategic manipulation of elections aggregating together preferences of multiple agents. We study here the…
Logic Programs with Ordered Disjunction (LPODs) extend classical logic programs with the capability of expressing alternatives with decreasing degrees of preference in the heads of program rules. Despite the fact that the operational…
The pricing of options, warrants and other derivative securities is one of the great success of financial economics. These financial products can be modeled and simulated using quantum mechanical instruments based on a Hamiltonian…
We propose and axiomatize a new model of incomplete preferences under uncertainty, which we call \textit{hope-and-prepare preferences}. An act is considered more desirable than an other act when, and only when, both an optimistic…
This paper introduces conceptual relations that synthesize utilitarian and logical concepts, extending the logics of preference of Rescher. We define first, in the context of a possible worlds model, constraint-dependent measures that…
Decision maker's preferences are often captured by some choice functions which are used to rank prospects. In this paper, we consider ambiguity in choice functions over a multi-attribute prospect space. Our main result is a robust…
Bernays introduced a method for proving underivability results in propositional calculi by truth tables. In general, this motivates an investigations of how to find, given a propositional logic, a finite-valued logic which has as few…
Expectation is a central notion in probability theory. The notion of expectation also makes sense for other notions of uncertainty. We introduce a propositional logic for reasoning about expectation, where the semantics depends on the…
The market practice of extrapolating different term structures from different instruments lacks a rigorous justification in terms of cash flows structure and market observables. In this paper, we integrate our previous consistent theory for…
This document outlines the development of numerous new theoretical approaches to model associating fluids. For a detailed abstract please see page ii.
Inthispaperwedescribeaconcept-wisemulti-preferencesemantics for description logic which has its root in the preferential approach for modeling defeasible reasoning in knowledge representation. We argue that this proposal, beside satisfying…
We consider the problem of option hedging in a market with proportional transaction costs. Since super-replication is very costly in such markets, we replace perfect hedging with an expected loss constraint. Asymptotic analysis for small…
In random expected utility (Gul and Pesendorfer, 2006), the distribution of preferences is uniquely recoverable from random choice. This paper shows through two examples that such uniqueness fails in general if risk preferences are random…