Search results for "Utility"
showing 10 items of 116 documents
Non-cooperative Aerial Base Station Placement via Stochastic Optimization
2019
Autonomous unmanned aerial vehicles (UAVs) with on-board base station equipment can potentially provide connectivity in areas where the terrestrial infrastructure is overloaded, damaged, or absent. Use cases comprise emergency response, wildfire suppression, surveillance, and cellular communications in crowded events to name a few. A central problem to enable this technology is to place such aerial base stations (AirBSs) in locations that approximately optimize the relevant communication metrics. To alleviate the limitations of existing algorithms, which require intensive and reliable communications among AirBSs or between the AirBSs and a central controller, this paper leverages stochastic…
A Generalisation of the Mean-Variance Analysis
2009
In this paper we consider a decision maker whose utility function has a kink at the reference point with different functions below and above this reference point. We also suppose that the decision maker generally distorts the objective probabilities. First we show that the expected utility function of this decision maker can be approximated by a function of mean and partial moments of distribution. This ‘mean-partial moments’ utility generalises not only mean-variance utility of Tobin and Markowitz, but also mean-semivariance utility of Markowitz. Then, in the spirit of Arrow and Pratt, we derive an expression for a risk premium when risk is small. Our analysis shows that a decision maker i…
New novel idea for Cloud Computing: How can we use Kalman filter in security of Cloud Computing
2012
Cloud is a virtual image about some amount of undefined powers, that is widespread and had unknown power and inexact amount of hardware and software configurations, and because of we have not any information about clouds location and time dimensions and also the amounts of its sources we tell that Cloud Computing. This technology presents lots of abilities and opportunities such as processing power, storage and accessing it from everywhere, supporting, working - team group - with the latest versions of software and etc., by the means of internet. On the other hand, in such a large scale networks we should consider the reliability and powerfulness of such networks in facing with events such …
Old or new occupants of energy rehabilitated buildings. Two different approaches for hierarchizing group of buildings
2017
Abstract Public Administrations are frequently entitled to intervene in building stocks with energy rehabilitation actions. Unfortunately, the monetary budget at their disposal is generally limited and, consequently, a prioritization criterion is needed to optimize its allocation. The classification of the building energy performance is increasingly used by Public Administrations for this purpose. Here we argue that a proper prioritization criterion should depend upon the potential subjects to which the rehabilitated buildings are given back. If the energy rehabilitation is conducted on buildings that will be assigned to new dwellers, it would be preferable to use the energy class – which i…
A Neo2 bayesian foundation of the maxmin value for two-person zero-sum games
1994
A joint derivation of utility and value for two-person zero-sum games is obtained using a decision theoretic approach. Acts map states to consequences. The latter are lotteries over prizes, and the set of states is a product of two finite sets (m rows andn columns). Preferences over acts are complete, transitive, continuous, monotonie and certainty-independent (Gilboa and Schmeidler (1989)), and satisfy a new axiom which we introduce. These axioms are shown to characterize preferences such that (i) the induced preferences on consequences are represented by a von Neumann-Morgenstern utility function, and (ii) each act is ranked according to the maxmin value of the correspondingm × n utility …
Portfolio optimisation with strictly positive transaction costs and impulse control
1998
One crucial assumption in modern portfolio theory of continuous-time models is the no transaction cost assumption. This assumption normally leads to trading strategies with infinite variation. However, following such a strategy in the presence of transaction costs will lead to immediate ruin. We present an impulse control approach where the investor can change his portfolio only finitely often in finite time intervals. Further, we consider transaction costs including a fixed and a proportional cost component. For the solution of the resulting control problems we present a formal optimal stopping approach and an approach using quasi-variational inequalities. As an application we derive a non…
A Unified Approach to Portfolio Optimization with Linear Transaction Costs
2004
In this paper we study the continuous time optimal portfolio selection problem for an investor with a finite horizon who maximizes expected utility of terminal wealth and faces transaction costs in the capital market. It is well known that, depending on a particular structure of transaction costs, such a problem is formulated and solved within either stochastic singular control or stochastic impulse control framework. In this paper we propose a unified framework, which generalizes the contemporary approaches and is capable to deal with any problem where transaction costs are a linear/piecewise-linear function of the volume of trade. We also discuss some methods for solving numerically the p…
Mental Account Barriers and Transaction Purpose: A Romanian Point of View
2013
Abstract The present study encompasses the behavioral model of decision making. Using the models provided by scientific literature, the relationship between the basic structure of mental accounts, transaction utility and consumer decision, together with perceived comfortability. The procedure was carried out using undergraduate students of Lucian Blaga University of Sibiu, with similar proportions of sexes and with resembling ages. Results have shown that influence of mental accounting structuring and transaction utility on decision and perceived comfortability is insignificant, taken into account the differences between sexes. The presented results bring knowledge into the economic behavio…
Liberalising European electricity markets: opportunities and risks for a sustainable power sector
2003
The process of liberalising European electricity markets, encompassing a wide range of restructuring activities, has mainly been spurred by the attempt to increase the economic efficiency of the whole sector. This process might be used to trigger a development towards a sustainable power sector by increasing the use of renewable energy sources and enhancing energy efficiency on the supply and demand side. However, by taking a closer look at the current trends of the European electricity markets, it becomes obvious that the liberalisation not only implies opportunities but also risks for the creation of a sustainable power sector. Many of these risks are due to market distortions and imperfe…
A model of adaptive decision-making from representation of information environment by quantum fields
2017
We present the mathematical model of decision making (DM) of agents acting in a complex and uncertain environment (combining huge variety of economical, financial, behavioral, and geo-political factors). To describe interaction of agents with it, we apply the formalism of quantum field theory (QTF). Quantum fields are of the purely informational nature. The QFT-model can be treated as a far relative of the expected utility theory, where the role of utility is played by adaptivity to an environment (bath). However, this sort of utility-adaptivity cannot be represented simply as a numerical function. The operator representation in Hilbert space is used and adaptivity is described as in quantu…