In this paper I try to give answers to some of the questions and problems that arise in relation to point in time (PIT) and through the cycle (TTC) rating philosophies. One of the most confusing of these is the definition of the two approaches that, as I argue, should be based on the scope of information behind the systems. Through a simple model I demonstrate that the results of quantitative a...

This paper investigates the impact of rating agencies in a market with asymmetric information. In particular, the role of credit rating agencies as an intermediary between investors and bond issuers is discussed. We model this setting in a dynamic framework in which both rating agencies and bond issuers are of heterogeneous quality. Rating agencies can apply costly research technology to reveal...

Each item in a given collection is characterized by a set of possible performances. A (ranking) method is a function that assigns an ordering of the items to every performance profile. Ranking by Rating consists in evaluating each item’s performance by using an exogenous rating function, and ranking items according to their performance ratings. Any such method is separable: the ordering of two ...

Ambiguous notation is a powerful tool developed to deal with the complexity of mathematics without sacrificing clarity or conciseness. In the mechanized parsing of ambiguous terms, a disambiguation algorithm can be used to provide the system with the intelligence necessary to select valid interpretations for the overloaded symbols received in input. Disambiguation works by means of an increment...

The Functional Rating Index (FRI) (Feise and Michael Menke 2001) is a 10-item region-specific Patient Reported Outcome (PRO) measure developed by combining the Neck Disability Index (NDI) and Oswestry Disability Index (ODI). It is designed to reflect status for disorders that involve several or any spine area as a single kinetic chain. The 10 FRI items fall within four constructs – pain, sleep,...