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Decreasing Marginal Value of Information by
, 2013
"... We investigate conditions under which the value of additional information is diminishing in a setting where the decision maker has access to multiple, identicallydistributed, information signals. The signals are independent conditional on an unknown payoffrelevant parameter. We consider two objecti ..."
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objective functions for the decision maker: minimizing a quadratic loss function or minimizing a symmetric, convex loss function. We explore two concepts of diminishing marginal value of information. The first is an ex ante concept, before any information is observed, and the second is ex post, after
The Marginal Value of Social Security
, 1987
"... if annuities such as Social Security are not choosen freely, the consumption path typically cannot be determined independently of the path of annuities. This constraint reduces the value of the annuity from the point of view of the annuitant. I measure the value of the annuity by the marginal rate o ..."
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if annuities such as Social Security are not choosen freely, the consumption path typically cannot be determined independently of the path of annuities. This constraint reduces the value of the annuity from the point of view of the annuitant. I measure the value of the annuity by the marginal rate
Large Margin Classification Using the Perceptron Algorithm
 Machine Learning
, 1998
"... We introduce and analyze a new algorithm for linear classification which combines Rosenblatt 's perceptron algorithm with Helmbold and Warmuth's leaveoneout method. Like Vapnik 's maximalmargin classifier, our algorithm takes advantage of data that are linearly separable with large ..."
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Cited by 518 (2 self)
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We introduce and analyze a new algorithm for linear classification which combines Rosenblatt 's perceptron algorithm with Helmbold and Warmuth's leaveoneout method. Like Vapnik 's maximalmargin classifier, our algorithm takes advantage of data that are linearly separable
Large margin methods for structured and interdependent output variables
 JOURNAL OF MACHINE LEARNING RESEARCH
, 2005
"... Learning general functional dependencies between arbitrary input and output spaces is one of the key challenges in computational intelligence. While recent progress in machine learning has mainly focused on designing flexible and powerful input representations, this paper addresses the complementary ..."
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Cited by 612 (12 self)
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to accomplish this, we propose to appropriately generalize the wellknown notion of a separation margin and derive a corresponding maximummargin formulation. While this leads to a quadratic program with a potentially prohibitive, i.e. exponential, number of constraints, we present a cutting plane algorithm
A training algorithm for optimal margin classifiers
 PROCEEDINGS OF THE 5TH ANNUAL ACM WORKSHOP ON COMPUTATIONAL LEARNING THEORY
, 1992
"... A training algorithm that maximizes the margin between the training patterns and the decision boundary is presented. The technique is applicable to a wide variety of classifiaction functions, including Perceptrons, polynomials, and Radial Basis Functions. The effective number of parameters is adjust ..."
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Cited by 1848 (44 self)
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A training algorithm that maximizes the margin between the training patterns and the decision boundary is presented. The technique is applicable to a wide variety of classifiaction functions, including Perceptrons, polynomials, and Radial Basis Functions. The effective number of parameters
Pricing weather derivatives by marginal value
 Quantitative Finance
, 2001
"... Weather derivatives are a classic incomplete market. This paper gives a preliminary exploration of weather derivative pricing using the ‘marginal substitution value ’ or ‘shadow price ’ approach of mathematical economics. Accumulated heating degree days (HDD) and commodity prices are modelled as geo ..."
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Cited by 40 (0 self)
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Weather derivatives are a classic incomplete market. This paper gives a preliminary exploration of weather derivative pricing using the ‘marginal substitution value ’ or ‘shadow price ’ approach of mathematical economics. Accumulated heating degree days (HDD) and commodity prices are modelled
Reducing Multiclass to Binary: A Unifying Approach for Margin Classifiers
 JOURNAL OF MACHINE LEARNING RESEARCH
, 2000
"... We present a unifying framework for studying the solution of multiclass categorization problems by reducing them to multiple binary problems that are then solved using a marginbased binary learning algorithm. The proposed framework unifies some of the most popular approaches in which each class ..."
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Cited by 560 (20 self)
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We present a unifying framework for studying the solution of multiclass categorization problems by reducing them to multiple binary problems that are then solved using a marginbased binary learning algorithm. The proposed framework unifies some of the most popular approaches in which each class
Mining the Network Value of Customers
 In Proceedings of the Seventh International Conference on Knowledge Discovery and Data Mining
, 2002
"... One of the major applications of data mining is in helping companies determine which potential customers to market to. If the expected pro t from a customer is greater than the cost of marketing to her, the marketing action for that customer is executed. So far, work in this area has considered only ..."
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Cited by 562 (11 self)
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only the intrinsic value of the customer (i.e, the expected pro t from sales to her). We propose to model also the customer's network value: the expected pro t from sales to other customers she may inuence to buy, the customers those may inuence, and so on recursively. Instead of viewing a market
An Efficient Multiunit Auction with Increasing Marginal Values
, 2006
"... This paper presents an ascendingbid auction in a multiunit private value setting with increasing marginal values. This auction mechanism is an extension of the dynamic Ausubel auction, which successfully implements the efficient outcome with nonincreasing marginal values. The Ausubel auction algor ..."
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This paper presents an ascendingbid auction in a multiunit private value setting with increasing marginal values. This auction mechanism is an extension of the dynamic Ausubel auction, which successfully implements the efficient outcome with nonincreasing marginal values. The Ausubel auction
Paradoxes in Learning and the Marginal Value of Information
"... informs doi 10.1287/deca.1100.0190 ..."
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