This paper proposes a new method to introduce coherent risk measures for risks with infinite expectation, such as those characterized by some Pareto distributions. Extensions of the conditional value at risk, the weighted conditional value at risk and other examples are given. Actuarial applications are analyzed, such as extensions of the expected value premium principle when expected losses ar...

Evolution by variation and natural selection is often viewed as an optimization process that favors those organisms which are best adapted to their environment. This leaves open the issue of how to measure adaptation and what criterion is implied for optimization. This problem has been framed and analysed mathematically under the assumption that individuals compete to minimize expected losses a...

this work studies the effect of neutral earth resistance on the controlling ferroresonance oscillation in the power transformer including MOV surge arrester. A simple case of ferroresonance circuit in a three phase transformer is used to show this phenomenon and the three-phase transformer core structures including nonlinear core losses are discussed. The effect of MOV surge arrester and neutra...

Feedback error-related negativity (fERN) has been referred to as a negative deflection in the event related potential (ERP), which distinguishes between wins and losses in terms of expected and unexpected outcomes. Some studies refer to the "expected outcome" as the probability to win vs. to lose, and others as expected size of rewards. We still do not know much about whether these alternative ...