The optimized certainty equivalent (OCE) is a decision theoretic criterion based on a utility function, that was first introduced by the authors in 1986. This paper re-examines this fundamental concept, studies and extends its main properties, and put it in perspective to recent concepts of risk measures. We show that the negative of the OCE naturally provides a wide family of risk measures tha...

This study aims to examine the Role and Function of Agency for tax management regional levy North Sumatra Province in improving income. The research method used is normative legal with secondary data. Qualitative analysis analyze problems. results obtained that Local Tax Levy Management plays an important role improvement Locally-Generated Revenue through receipt Taxes. Regional Receipts derive...

This study uses a contingent valuation model to evaluate visitors’ stated willingness to pay (WTP) for recreation at Colorado “Fourteeners”: peaks that rise higher than 14,000 feet. The study also assesses the respondents’ self-reported response uncertainty. One scenario queries respondents about a hypothetical situation in which they would pay an entrance fee where 80% of the funds are used on...

Attitude toward risk is an important factor determining patient preferences. Risk behavior has been shown to be strongly dependent on the perception of the outcome as either a gain or a loss. According to prospect theory, the reference point determines how an outcome is perceived. However, no theory on the location of the reference point exists, and for the health domain, there is no direct evi...

This paper focuses on the American states and the sources of the expanding structural imbalance between their highway-related revenues on the one hand and expenditures for transportation infrastructure needs on the other. The paper describes the roots of the funding problem over recent decades, looks at some of the responses taken at the state and federal level, and discusses their inherent lim...

We aimed to assess the comparative efficacy and safety of second-generation basal insulins (glargine U300 degludec U100) vs. neutral protamine Hagedorn (NPH) first-generation U100 detemir) in type 1 diabetes (T1D) adults. PubMed, Cochrane Library, ClinicalTrials.gov, Google Scholar (until January 2021) were systematically searched. Randomized controlled trials (RCTs) with ≥ 12 weeks follow-up c...

In this paper we propose an almost optimal indirect adaptive controller for input/state dynamical systems. The control part of the adaptive scheme is based o n a modified L Q control law: by adding a time varying gain to the certainty equivalent control law we avoid the conflict between identification and control.