The main purpose of this paper is clarifying the connection between some characteristics of a deciding body and the probability of its making correct decisions. In our model a group of decision makers is required to select one of two alternatives. We assume the probabilities of the decision makers being correct are independent random variables distributed according to the same given distributio...

We describe asymptotically optimal Bayesian and frequentist solutions to the problem of sequential change-point detection in multiparameter exponential families when the preand post-change parameters are unknown. In this connection we also address certain issues recently raised by Mei (2008) concerning performance criteria for detection rules in this setting.

We consider a generalization of the house-selling problem to selling k houses. Let the offers, X1,X2, . . ., be independent, identically distributed k-dimensional random vectors having a known distribution with finite second moments. The decision maker is to choose simultaneously k stopping rules, N1, . . . , Nk , one for each component. The payoff is the sum over j of the jth component of XNj ...

Identities about the wordlength patterns of regular s designs and their complementary designs are established through a first-order differential equation satisfied by a structure function. The identities are then generalized to s designs with multiple groups of factors. An advantage of using the structure function and partial differential equation is that it can easily adapt to some structural ...

The problem of fusing decisions transmitted over fading and noisy channels in a wireless sensor network is revisited. In a previous work, starting with the assumption of perfect channel knowledge, an optimal likelihood ratio (LR) based fusion rule was developed along with three suboptimum statistics. In this paper, we present a new LR based fusion rule which requires only the knowledge of chann...

In this paper we study the inefficiencies of the monetary equilibrium and optimal monetary policies in a search economy. We show that the same frictions that give fiat money a positive value generate an inefficient quantity of goods in each trade and an inefficient number of trades (or search decisions). The Friedman rule eliminates the first inefficiency and the Hosios rule the second. A monet...

Channel systems for conducting monetary policy are becoming increasingly popular. Despite its popularity, the consequences of implementing policy with a channel system are not well understood. We develop a general equilibrium framework of a channel system and study the optimal policy. A novel aspect of the channel system is that a central bank can “tighten” or “loosen” its policy without changi...

Prediction of consumer demands is a pre-requisite for optimal control of water distribution systems. In this paper, we present a rough set method for generating prediction rules from a set of observed data. The proposed method is based on an extension of the standard rough set model. The salient feature of this method is that it makes use of the statistical information inherent in the data to h...

In this work, cooperative spectrum sensing technology is applied to optimize the outage probability of cognitive relay networks. The outage performance optimization problem of cognitive relay networks is resolved by designing the sensing time and fusion rule threshold appropriately. The outage probability by high signal to noise ratio (SNR) approximation under Rayleigh fading channels is derive...

The problem of exhaustive and non-redundant generation of formulas of chiral isomers of alkanes was considered. The procedure starts with the generation of optimal codes of all N-alkane structures (N denotes the number of carbon atoms.) and then the algorithm determines whether a given structure contains at least a single carbon atom, with four different substituents. In order to accomplish the...