Recent developments in the theory of choice under uncertainty and risk yield a pessimistic decision theory that replaces the classical expected utility criterion with a Choquet expectation that accentuates the likelihood of the least favorable outcomes. A parallel theory has recently emerged in the literature on risk assessment. It is shown that pessimistic portfolio optimization based on the C...

Pipage rounding is a dependent random sampling technique that has several interesting properties and diverse applications. One property that has been particularly useful is negative correlation of the resulting vector. Unfortunately negative correlation has its limitations, and there are some further desirable properties that do not seem to follow from existing techniques. In particular, recent...

We study the solution of non-convex, pessimistic bi-level problems. After providing several motivating examples, we relate the problem to existing research in optimisation. We analyse key properties of the optimisation problem, such as closedness of the feasible region and computational complexity. We then present and investigate a semiinfinite solution approach that solves ǫ-approximations of ...

Received academic wisdom holds that human judgment is characterized by unrealistic optimism, the tendency to underestimate the likelihood of negative events and overestimate the likelihood of positive events. With recent questions being raised over the degree to which the majority of this research genuinely demonstrates optimism, attention to possible mechanisms generating such a bias becomes e...

Whether animals experience human-like emotions is controversial and of immense societal concern [1-3]. Because animals cannot provide subjective reports of how they feel, emotional state can only be inferred using physiological, cognitive, and behavioral measures [4-8]. In humans, negative feelings are reliably correlated with pessimistic cognitive biases, defined as the increased expectation o...

MANET is a self-directed system consisting of mobile nodes, which can be either routers and/or hosts. Nodes in MANET are connected by wireless links without base stations. The Backoff algorithm considered as a main element of Media Access Control (MAC) protocol, which is used to avoid collision in MANET’s. The Fibonacci Backoff algorithm and the Pessimistic Fibonacci Backoff are proposed to imp...

There is an abundant literature in finance on overconfidence, however there exists a different psychological trait well known to financial practitioners and psychologists [see Hilton at al. (2004)] which is optimism. This trait has received little attention. Our paper analyses the consequences of optimism and pessimism on financial markets. We develop a general model of optimism/pessimism where...

Abstract: Active learning is the process in which unlabeled instances are dynamically selected for expert labelling, and then a classi er is trained on the labeled data. Active learning is particularly useful when there is a large set of unlabeled instances, and acquiring a label is costly. In business scenarios such as direct marketing, active learning can be used to indicate which customer to...