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25,686
Risk Aversion and Incentive Effects
- American Economic Review
, 2002
"... A menu of paired lottery choices is structured so that the crossover point to the high-risk lottery can be used to infer the degree of risk aversion. With "normal " laboratory payoffs of several dollars, most subjects are risk averse and few are risk loving. Scaling up all payoffs by facto ..."
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Cited by 488 (7 self)
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by factors of twenty, fifty, and ninety makes little difference when the high payoffs are hypothetical. In contrast, subjects become sharply more risk averse when the high payoffs are actually paid in cash. A hybrid “power/expo ” utility function with increasing relative and decreasing absolute risk aversion
Online Learning with Kernels
, 2003
"... Kernel based algorithms such as support vector machines have achieved considerable success in various problems in the batch setting where all of the training data is available in advance. Support vector machines combine the so-called kernel trick with the large margin idea. There has been little u ..."
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Cited by 2831 (123 self)
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derive worst case loss bounds and moreover we show the convergence of the hypothesis to the minimiser of the regularised risk functional. We present some experimental results that support the theory as well as illustrating the power of the new algorithms for online novelty detection. In addition
Advances in Prospect Theory: Cumulative Representation of Uncertainty
- JOURNAL OF RISK AND UNCERTAINTY, 5:297-323 (1992)
, 1992
"... We develop a new version of prospect theory that employs cumulative rather than separable decision weights and extends the theory in several respects. This version, called cumulative prospect theory, applies to uncertain as well as to risky prospects with any number of outcomes, and it allows differ ..."
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Cited by 1717 (17 self)
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different weighting functions for gains and for losses. Two principles, diminishing sensitivity and loss aversion, are invoked to explain the characteristic curvature of the value function and the weighting functions. A review of the experimental evidence and the results of a new experiment confirm a
Separation of ownership and control
- JOURNAL OF LAW AND ECONOMICS
, 1983
"... This paper analyzes the survival of organizations in which decision agents do not bear a major share of the wealth effects of their decisions. This is what the literature on large corporations calls separation of âownershipâ and âcontrol.â Such separation of decision and risk bearing functio ..."
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Cited by 1661 (8 self)
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functions is also common to organizations like large professional partnerships, financial mutuals and nonprofits. We contend that separation of decision and risk bearing functions survives in these organizations in part because of the benefits of specialization of management and risk bearing but also
Adapting to unknown smoothness via wavelet shrinkage
- JOURNAL OF THE AMERICAN STATISTICAL ASSOCIATION
, 1995
"... We attempt to recover a function of unknown smoothness from noisy, sampled data. We introduce a procedure, SureShrink, which suppresses noise by thresholding the empirical wavelet coefficients. The thresholding is adaptive: a threshold level is assigned to each dyadic resolution level by the princip ..."
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Cited by 1006 (18 self)
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by the principle of minimizing the Stein Unbiased Estimate of Risk (Sure) for threshold estimates. The computational effort of the overall procedure is order N log(N) as a function of the sample size N. SureShrink is smoothness-adaptive: if the unknown function contains jumps, the reconstruction (essentially) does
Bid, ask and transaction prices in a specialist market with heterogeneously informed traders
- Journal of Financial Economics
, 1985
"... The presence of traders with superior information leads to a positive bid-ask spread even when the specialist is risk-neutral and makes zero expected profits. The resulting transaction prices convey information, and the expectation of the average spread squared times volume is bounded by a number th ..."
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Cited by 1273 (5 self)
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The presence of traders with superior information leads to a positive bid-ask spread even when the specialist is risk-neutral and makes zero expected profits. The resulting transaction prices convey information, and the expectation of the average spread squared times volume is bounded by a number
Optimizing Search Engines using Clickthrough Data
, 2002
"... This paper presents an approach to automatically optimizing the retrieval quality of search engines using clickthrough data. Intuitively, a good information retrieval system should present relevant documents high in the ranking, with less relevant documents following below. While previous approaches ..."
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Cited by 1314 (23 self)
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approaches to learning retrieval functions from examples exist, they typically require training data generated from relevance judgments by experts. This makes them difficult and expensive to apply. The goal of this paper is to develop a method that utilizes clickthrough data for training, namely the query
Optimization of Convex Risk Functions
, 2004
"... We consider optimization problems involving convex risk functions. By employing techniques of convex analysis and optimization theory in vector spaces of measurable functions we develop new representation theorems for risk models, and optimality and duality theory for problems involving risk functio ..."
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Cited by 103 (14 self)
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We consider optimization problems involving convex risk functions. By employing techniques of convex analysis and optimization theory in vector spaces of measurable functions we develop new representation theorems for risk models, and optimality and duality theory for problems involving risk
Ideal spatial adaptation by wavelet shrinkage
- Biometrika
, 1994
"... With ideal spatial adaptation, an oracle furnishes information about how best to adapt a spatially variable estimator, whether piecewise constant, piecewise polynomial, variable knot spline, or variable bandwidth kernel, to the unknown function. Estimation with the aid of an oracle o ers dramatic ad ..."
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Cited by 1269 (5 self)
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With ideal spatial adaptation, an oracle furnishes information about how best to adapt a spatially variable estimator, whether piecewise constant, piecewise polynomial, variable knot spline, or variable bandwidth kernel, to the unknown function. Estimation with the aid of an oracle o ers dramatic
Xen and the art of virtualization
- IN SOSP
, 2003
"... Numerous systems have been designed which use virtualization to subdivide the ample resources of a modern computer. Some require specialized hardware, or cannot support commodity operating systems. Some target 100 % binary compatibility at the expense of performance. Others sacrifice security or fun ..."
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Cited by 2010 (35 self)
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or functionality for speed. Few offer resource isolation or performance guarantees; most provide only best-effort provisioning, risking denial of service. This paper presents Xen, an x86 virtual machine monitor which allows multiple commodity operating systems to share conventional hardware in a safe and resource
Results 1 - 10
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25,686