The problem of irreversible investment with idiosyncratic risk is studied by interpreting market incompleteness as a source of ambiguity over the appropriate no-arbitrage discount factor. The maxmin utility over multiple priors framework is used to model and solve the irreversible investment problem. Multiple priors are modeled using the notion of k-ignorance. This set-up is used to analyze fin...

Despite the increasing importance of multiple priors in various domains economics and significant theoretical advances concerning them, choice-based incentive-compatible multiple-prior elicitation largely remains an open problem. This paper develops a solution, comprising preference-based identification subject’s probability interval for event, two procedures eliciting it. The method does not r...

A team game is a non–cooperative normal–form game in which some teams of players play against others. Team members share a common goal but, due to some constraints, they cannot act jointly. A real–world example is the protection of environments or complex infrastructures by different security agencies: they all protect the area with valuable targets but they have to act individually since they ...

Control problems with hard bounds on the control values, restrictions on the state trajectory over a finite time horizon, and guaranteed behavior despite the disturbances, are difficult to solve using frequency based design methods. Such problems have received much attention over the past decade. In order to address them one needs to study system evolution in the time domain. The central concep...

1 Distributed Algorithms for Computation of Fair Rates in Multirate Multicast Trees Saswati Sarkar and Leandros Tassiulas Dept. of Electrical and Computer Engineering and Institute for Systems Research University of Maryland, College Park, MD, USA email addresses: [email protected], [email protected] Abstract|We study fairness in arbitrary networks with multicast capabilities. Multicast tra ...

A model for grey-tone image enhancement using the concept of fuzzy sets is suggested. It involves primary enhancement, smoothing, and then final enhancement. The algorithm for both the primary and final enhancements includes the extraction of fuzzy properties corresponding to pixels and then successive applications of the fuzzy operator "contrast intensifier" on the property plane. The three di...

There are many unavoidable noise interferences in image capturing and transmission. In order to make it better for subsequent processing, the noise in the image should be removed in advance. There are many kinds of image noises, mainly including salt & pepper noise and Gaussian noise. This paper focuses on the research of the Gaussian noise removal. It introduces many wavelet threshold denoisin...

Motivation. The recent literature on mechanism design provides a series of studies on robustness issues, motivated by the idea that a desirable mechanism should not rely too heavily on the agents’ common knowledge structure (Wilson, 1985). One approach is to adopt stronger solution concepts that are insensitive to various common knowledge assumptions, such as dominant-strategy incentive compati...

the main objective of this study was to estimate the genetic parameters for multi-trait evaluation of birth weight (bw), gestation length (gl) and calving difficulty (cd) in first-parity iranian holstein dairy cattle. the data included 29,950 calving records collected during 1995 to 2014 by the animal breeding and improvement center of iran. a threshold-linear sire-maternal grandsire model was ...