


Paper's Title:
Expected Utility with Subjective Events
Author(s):
Jacob Gyntelberg and Frank Hansen
Bank for International Settlements,
Basel,
Switzerland
Tohoku University, Institute for International Education,
Sendai,
Japan
Abstract:
We provide a new theory of expected utility with subjective events modeled by a lattice of projections. This approach allows us to capture the notion of a ``small world'' as a context dependent or local state space embedded into a subjective set of events, the ``grand world''. For each situation the decision makers' subjective ``small world'' reflects the events perceived to be relevant for the act under consideration. The subjective set of events need not be representable by a classical state space. Maintaining preference axioms similar in spirit to the classical axioms, we obtain an expected utility representation which is consistent across local state spaces and separates subjective probability and utility. An added benefit is that this alternative expected utility representation allows for an intuitive distinction between risk and uncertainty.
Paper's Title:
A general theory of decision making
Author(s):
Frank Hansen
Department of Economics,
University of Copenhagen,
Studiestraede 6, DK1455 Copenhagen K
Denmark
Frank.Hansen@econ.ku.dk
URL: http://www.econ.ku.dk/okofh
Abstract:
We formulate a general theory of decision making based on a lattice of observable events, and we exhibit a large class of representations called the general model. Some of the representations are equivalent to the so called standard model in which observable events are modelled by an algebra of measurable subsets of a state space, while others are not compatible with such a description. We show that the general model collapses to the standard model, if and only if an additional axiom is satisfied. We argue that this axiom is not very natural and thus assert that the standard model may not be general enough to model all relevant phenomena in economics. Using the general model we are (as opposed to Schmeidler [16]) able to rationalize Ellsberg's paradox without the introduction of nonadditive measures.
Paper's Title:
Hardy Type Inequalities via Convexity  The Journey so Far
Author(s):
James A.
Oguntuase and LarsErik Persson
Department of Mathematics,
University of Agriculture,
P. M. B. 2240, Abeokuta, Nigeria.
Department of
Mathematics, Luleå University of Technology,
SE971 87, Luleå , Sweden.
oguntuase@yahoo.com,
larserik@sm.luth.se .
Abstract:
It is nowadays wellknown that Hardy's inequality (like many other inequalities) follows directly from Jensen's inequality. Most of the development of Hardy type inequalities has not used this simple fact, which obviously was unknown by Hardy himself and many others. Here we report on some results obtained in this way mostly after 2002 by mainly using this fundamental idea.
Paper's Title:
Normalized Truncated Levy models applied to the study of Financial Markets
Author(s):
M. C. Mariani, K. Martin, D. W. Dombrowski and D. Martinez
Department of Mathematical Sciences and Department of Finance,
New Mexico State University, P.O. Box 30001
Department 3MB Las Cruces, New Mexico 880038001
USA.
mmariani@nmsu.edu
kjmartin@nmsu.edu
Abstract:
This work is devoted to the study of the statistical properties of financial instruments from developed markets. We performed a new analysis of the behavior of companies corresponding to the DJIA index, and of the index itself, by using a normalized Truncated Levy walk model. We conclude that the Truncated Levy distribution describes perfectly the evolution of the companies and of the index near a crash.
Paper's Title:
Some Remarks on a Result of Bougoffa
Author(s):
James A. Oguntuase, LarsErik Persson and Josip E. Pečarič
Department of
Mathematics,University of Agriculture,
P M B 2240, Abeokuta, Nigeria
Department of Mathematics,
Luleå University of Technology,
SE971 87, Luleå , Sweden
Faculty of Textile Technology, University of Zagreb,
Pierottijeva 6, 10000 Zagreb, Croatia
oguntuase@yahoo.com,
larserik@sm.luth.se,
pecaric@hazu.hr.
Abstract:
Some new generalizations of the result of
L. Bougoffa [J. Inequal. Pure Appl. Math. 7 (2) (2006), Art. 60]
are derived and discussed.
Paper's Title:
Inequalities for Functions of Selfadjoint Operators on Hilbert Spaces:
a Survey of Recent Results
Author(s):
Sever S. Dragomir^{1,2}
^{1}Mathematics,
College of Engineering
& Science
Victoria University, PO Box 14428
Melbourne City, MC 8001,
Australia
Email: sever.dragomir@vu.edu.au
^{2}DSTNRF Centre of Excellence in the Mathematical and Statistical Sciences,
School of Computer Science & Applied Mathematics,
University of the Witwatersrand,
Private Bag 3, Johannesburg 2050,
South Africa
URL:
https://rgmia.org/dragomir
Abstract:
The main aim of this survey is to present recent results concerning inequalities for continuous functions of selfadjoint operators on complex Hilbert spaces. It is intended for use by both researchers in various fields of Linear Operator Theory and Mathematical Inequalities, domains which have grown exponentially in the last decade, as well as by postgraduate students and scientists applying inequalities in their specific areas.
Paper's Title:
Estimates of Norms on Krein Spaces
Author(s):
Satheesh K. Athira, P. Sam Johnson and K. Kamaraj
Department of Mathematical and Computational Sciences,
National Institute of Technology Karnataka,
Surathkal, Mangaluru 575 025,
India.
Email: athirachandri@gmail.com
Department of Mathematical and
Computational Sciences,
National Institute of Technology Karnataka,
Surathkal, Mangaluru 575 025,
India.
Email:sam@nitk.edu.in
Department of Mathematics,
University College of Engineering Arni,
Anna University, Arni 632 326,
India.
Email: krajkj@yahoo.com
Abstract:
Various norms can be defined on a Krein space by choosing different underlying fundamental decompositions. Some estimates of norms on Krein spaces are discussed and a few results in Bognar's paper are generalized.
Paper's Title:
A New Method for Comparing Closed Intervals
Author(s):
Ibraheem Alolyan
Department of Mathematics, College of Sciences,
King Saud University, P. O. Box 2455, Riyadh 11451,
Saudi Arabia
ialolyan@ksu.edu.sa
URL:http://faculty.ksu.edu.sa/ALolyan
Abstract:
The usual ordering ``≤" on R is a total ordering, that is, for any two real numbers in R, we can determine their order without difficulty. However, for any two closed intervals in R, there is not a natural ordering among the set of all closed intervals in R. Several methods have been developed to compare two intervals. In this paper, we define the μordering which is a new method for ordering closed intervals.
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