Coherent Diversification Measures in Portfolio Theory: An Axiomatic Foundation

Inverse portfolio problem with coherent risk measures

In general, a portfolio problem minimizes risk (or negative utility) of a portfolio of financial assets with respect to portfolio weights subject to a budget constraint. The inverse portfolio problem then arises when an investor assumes that his/her risk preferences have a numerical representation in the form of a certain class of functionals, e.g. in the form of expected utility, coherent risk...

An Axiomatic Framework for Result Diversification

Informally speaking, diversification of search results refers to a trade-off between relevance and diversity in the set of results. In this article, we present a unifying framework for search result diversification using the axiomatic approach. The characterization provided by the axiomatic framework can help design and compare diversification systems, and we illustrate this using several examp...

Measures of information : the general axiomatic theory

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An axiomatic foundation of relativistic spacetime

Axiomatizations of the General Theory of Relativity.have occasionally been conducted to achieve precision and clarification of underlying concepts. Rigorous and inspiring work towards that aim based on first-order logic has been performed by Professor Németi and his working group (see references below). A complementary approach (Benda 2008) constructs the relativistic spacetime manifold ab init...

An axiomatic foundation for continuum thermodynamics