In this paper we establish a one-to-one correspondence between lawinvariant convex risk measures on L∞ and L. This proves that the canonical model space for the predominant class of law-invariant convex risk measures is L.

We associate to a regular function f on a normal surface germ (S; 0) an invariant, called the topological zeta function, which generalizes the same invariant for a plane curve germ; by deenition it is a rational function in one variable. We study its poles and their relation with the local monodromy of f , in particular we prove thègeneralized holomorphy conjecture'. We give a formula for this ...

We show that the Kähler-Ricci flow on an algebraic manifold of positive Kodaira dimension and semi-ample canonical line bundle converges to a unique canonical metric on its canonical model. It is also shown that there exists a canonical measure of analytic Zariski decomposition on an algebraic manifold of positive Kodaira dimension. Such a canonical measure is unique and invariant under biratio...

Frequently one attaches to an arithmetic object a zeta function whose analytic behavior reflects deep properties of the object. For example, attached to Q there is the Riemann zeta function, whose behavior (especially the position of its zeros) contains information about the distribution of the prime numbers. Dedekind attached a zeta function to every algebraic number field, and Hasse and Weil ...

We analyze incentive-efficient government bailouts within a canonical model of intra-firm moral hazard. Bailouts exacerbate the moral hazard of firms and managers in two ways. First, they make them less averse to failing. Second, the taxes to fund bailouts dampen their incentives. Nevertheless, if third-party externalities from keeping the firm alive are strong, bailouts can improve welfare. Ou...

Acceptable logic programs have been studied extensively in the context of proving termination of Prolog programs. It is diicult, however, to establish acceptability from the deenition since this depends on nding a suitable model, which need not be a Herbrand model in general, together with a suitable level mapping that one can use to check the conditions which characterize acceptability. In thi...