相关论文: Scale invariance versus translation variance in Na…
There has been limited success applying the Nash Bargaining Solution (NBS) in assigning intellectual property damages due to the difficulty of relating it to the specific facts of the case. Because of this, parties are not taking advantage…
In this paper we study the problem of maximizing expected utility from the terminal wealth with proportional transaction costs and random endowment. In the context of the existence of consistent price systems, we consider the duality…
We consider a continuous-time market with proportional transaction costs. Under appropriate assumptions we prove the existence of optimal strategies for investors who maximize their worst-case utility over a class of possible models. We…
Desirability can be understood as an extension of Anscombe and Aumann's Bayesian decision theory to sets of expected utilities. At the core of desirability lies an assumption of linearity of the scale in which rewards are measured. It is a…
Autonomous artificial intelligence agents in negotiation systems must generate equitable utility allocations satisfying individual rationality (IR), ensuring each agent receives at least its outside option, and the Nash Bargaining Solution…
This paper investigates the efficiency loss in social cost caused by strategic bidding behavior of individual participants in a supply-demand balancing market, and proposes a mechanism to fully recover equilibrium social optimum via…
Scaling problems have a rich and diverse history, and thereby have found numerous applications in several fields of science and engineering. For instance, the matrix scaling problem has had applications ranging from theoretical computer…
We consider a discrete time financial market with proportional transaction costs under model uncertainty, and study a num\'eraire-based semi-static utility maximization problem with an exponential utility preference. The randomization…
Few rigorous results are derived for fully developed turbulence. By applying the scaling properties of the Navier-Stokes equation we have derived a relation for the energy spectrum valid for unforced or decaying isotropic turbulence. We…
It is well-known that proper scaling can increase the efficiency of computational problems. In this paper we define and show that a balancing technique can substantially improve the computational efficiency of optimal control algorithms. We…
We study the dual formulation of the utility maximization problem in incomplete markets when the utility function is finitely valued on the whole real line. We extend the existing results in this literature in two directions. First, we…
Scale invariance supplemented by the requirement of the absence of new heavy particles may play an important role in addressing the hierarchy problem. We discuss how the Standard Model may become scale invariant at the quantum level above a…
Evidential cooperation in large worlds (ECL) refers to the idea that humans and other agents can benefit by cooperating with similar agents with differing values in causally disconnected parts of a large universe. Cooperating provides…
To any utility maximization problem under transaction costs one can assign a frictionless model with a price process $S^*$, lying in the bid/ask price interval $[\underline S, \bar{S}]$. Such process $S^*$ is called a \emph{shadow price} if…
We consider a discrete-time model of a financial market where a risky asset is bought and sold with transactions having a transient price impact. It is shown that the corresponding utility maximization problem admits a solution. We manage…
We study the problem of allocating a set of indivisible goods among a set of agents with \emph{2-value additive valuations}. In this setting, each good is valued either $1$ or $p/q$, for some fixed co-prime numbers $p,q\in \mathbb{N}$ such…
We advance scale-invariance arguments for systems that are governed (or approximated) by a $q-$Gaussian distribution, i.e., a power law distribution with exponent $Q=1/(1-q); q \in \mathbb{R}$. The ensuing line of reasoning is then compared…
This note shows that under the unrestricted domain, there exists a choice liberal and Nash implementable social choice rule if and only if there are at least three players and the outcome set is at least twice as large as the player set. A…
We study the classical bargaining problem and its two canonical solutions, (Nash and Kalai-Smorodinsky), from a novel point of view: we ask for stability of the solution if both players are able distort the underlying bargaining process by…
We extend the potential-based shaping method from Markov decision processes to multi-player general-sum stochastic games. We prove that the Nash equilibria in a stochastic game remains unchanged after potential-based shaping is applied to…