Search results for "utili"
showing 10 items of 553 documents
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…
The geography of Spanish bank branches
2014
This article analyzes the determinants of bank branch location in Spain taking the role of geography explicitly into account. After a long period of intense territorial expansion, especially by savings banks, many of these firms are now involved in merger processes triggered off by the financial crisis, most of which entail the closing of many branches. However, given the contributions of this type of banks to limit financial exclusion, this process might exacerbate the consequences of the crisis for some disadvantaged social groups. Related problems such as new banking regulation initiatives (Basel III), or the current excess capacity in the sector add further relevance to this problem. We…
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 …
Latent class models for multiple ordered categorical health data: testing violation of the local independence assumption
2019
Latent class models are now widely applied in health economics to analyse heterogeneity in multiple outcomes generated by subgroups of individuals who vary in unobservable characteristics, such as genetic information or latent traits. These models rely on the underlying assumption that associations between observed outcomes are due to their relationship to underlying subgroups, captured in these models by conditioning on a set of latent classes. This implies that outcomes are locally independent within a class. Local independence assumption, however, is sometimes violated in practical applications when there is uncaptured unobserved heterogeneity resulting in residual associations between c…
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…
Le numérique à l'Ecole Polytechnique : utilisation et perception par les enseignants et les étudiants, regards croisés
2019
Référence interne : 19091
Pomological and quality traits of mulberry (Morus spp.) germplasm from Gorno Badakhshan in the Western Pamir
2017
The local fruit biodiversity can represent a good opportunity to maintain the agriculture and to develop economies in "marginal" territory such as those in the mountain rural areas. The genetic diversity of the Morus spp. is little known in the Western Pamir mountains, so that the objective of the present study was to improve the knowledge of the polymorphism of the species in the different poorly explored Tajik valleys by investigating the main quantitative and qualitative traits. Materials and methods - Six selected sites of the Gorno Badakhshan Autonomous Oblast (GBAO) region were investigated through field measurement on morphological traits of mulberry trees (both from wild and cultiva…