Recent events have renewed the debate on the desirability of imposing institutional constraints on government policy. This paper investigates how policy constraints discipline the behavior of discretionary governments in dynamic stochastic monetary economies and evaluates the welfare properties of such restrictions. Across a variety of possible shocks, the best policy is to impose a minimum sur...

One of the most important features of XML-based Web services is that they can be easily accessed over the Internet, but this makes them vulnerable to a series of security threats. What makes security for web services so challenging is their distributed and heterogeneous nature. Access control policy specification for controlling access to Web services is then becoming an emergent research area ...

This paper presents a motor control learning strategy in the presence of noise. Noise is important to consider as any real-world environment contain elements that cannot be accurately modeled. Learning is accomplished through analysis of control-response pairs. Policy parameters are sampled from multivariate normal distributions that slowly converge around the optimal policy, which can then be ...

The design of systems, or agents, situated in dynamic environments is of considerable practical and theoretical importance. In this paper, we describe experiments examining the e cacy of static sensing policies when the time cost of processing sensor information is signi cant. Extending the Tileworld experiments performed earlier by Kinny and George , we demonstrate that several expected featur...

Privacy technologies are becoming more relevant, because individual privacy is at risk in the Global Information Society. In this paper, an updated version of a formal task-based privacy-model which can be used to technically enforce legal privacy requirements is presented. It is shown, how the privacy policy has been specified and implemented according to the Generalized Framework for Access C...

All intensively studied and widely applied inventory control policies satisfy demand in accordance with the First-Come-First-Served (FCFS) rule, whether this demand is in backorder or not. Interestingly, this rule is sub-optimal when the fill-rate is constrained or when the backorder cost structure includes fixed costs per backorder and costs per backorder per unit time. In this paper we study ...

The objective of this paper is to present a special application field of optimal control and differential game theories which is of interest to management scientists. After introducing the Vidale-Wolfe’s and NerloveArrow’s dynamic models for advertising processes, I will focus on a few exemplary problems. At a first investigation level, we find some optimal control problems, then the more inter...

We review the optimality of partial insurance contracts in the presence of moral hazard when consumers are affected by probability weighting. In valuing risky prospects individuals commonly overweight extreme outcomes at the expense of intermediate outcomes; these deviations systematically bias the ex-ante value of insurance. We characterize optimal contracts for the case of perfectly competiti...

Communications regulators over the next decade will spend increasing time on conflicts between the interests of broadband providers and the public’s interest in competitive innovation environment on the internet. As the policy questions this conflict raises are basic to communications policy, they are likely to appear in many different forms. So far, the first major appearance has come in the “...

One of the most remarkable developments in marketing is the amount of interest shown in market segmentation and an important strategy in modern marketing as it provides an insight into the target pricing and advertising policies for technological products. Developers of technological products keep introducing successive generations of product based on latest technology, either to continue to be...