Results 1  10
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13
Approximate Equilibria and Ball Fusion
 Theory of Computing Systems
, 2002
"... We consider sel sh routing over a network consisting of m parallel links through which n sel sh users route their tra c trying to minimize their own expected latency. Westudy the class of mixed strategies in which the expected latency through each link is at most a constant multiple of the optimum m ..."
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Cited by 56 (23 self)
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We consider sel sh routing over a network consisting of m parallel links through which n sel sh users route their tra c trying to minimize their own expected latency. Westudy the class of mixed strategies in which the expected latency through each link is at most a constant multiple of the optimum maximum latency had global regulation been available. For the case of uniform links it is known that all Nash equilibria belong to this class of strategies. We areinterested in bounding the coordination ratio (or price of anarchy) of these strategies de ned as the worstcase ratio of the maximum (over all links) expected latency over the optimum maximum latency. The load balancing aspect of the problem immediately implies a lower bound; lnm ln lnm of the coordination ratio. We give a tight (uptoamultiplicative constant) upper bound. To show the upper bound, we analyze a variant ofthe classical balls and bins problem, in which balls with arbitrary weights are placed into bins according to arbitrary probability distributions. At the heart of our approach is a new probabilistic tool that we call
Contingent Portfolio Programming for the Management Of Risky Projects
 OPERATIONS RESEARCH
, 2003
"... ..."
Risk Models for TrustBased Access Control
 In Proceedings of the 3 rd Annual Conference on Trust Management
, 2005
"... Abstract. The importance of risk in trustbased systems is well established. This paper presents a novel model of risk and decisionmaking based on economic theory. Use of the model is illustrated by way of a collaborative spam detection application. 1 ..."
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Abstract. The importance of risk in trustbased systems is well established. This paper presents a novel model of risk and decisionmaking based on economic theory. Use of the model is illustrated by way of a collaborative spam detection application. 1
Computer science and game theory
 Communications of the ACM
, 2008
"... Game theory has been playing an increasingly visible role in computer science, in areas as diverse as artificial intelligence, theory, and distributed systems, among others. I take stock of where most of the action has been in the past decade or so, and suggest that going forward, the most dramatic ..."
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Cited by 9 (0 self)
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Game theory has been playing an increasingly visible role in computer science, in areas as diverse as artificial intelligence, theory, and distributed systems, among others. I take stock of where most of the action has been in the past decade or so, and suggest that going forward, the most dramatic interaction between computer science and game theory could be around what might be called game theory pragmatics. 1
The Economics of Insurance: A Review and Some Recent Developments
 AKTUARVEREINIGUNG
, 1999
"... The present paper is devoted to di#erent methods of choice under risk in an actuarial setting. The classical expected utility theory is first presented, and its drawbacks are underlined. A second approach based on the socalled distorted expectation hypothesis is then described. It will be seen t ..."
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Cited by 7 (4 self)
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The present paper is devoted to di#erent methods of choice under risk in an actuarial setting. The classical expected utility theory is first presented, and its drawbacks are underlined. A second approach based on the socalled distorted expectation hypothesis is then described. It will be seen that the wellknown stochastic dominance as well as the stoploss order have common interpretations in both theories, while defining higher degree stochastic orders leads to different concepts. The aim of this paper is to emphasize the similarities of the two approaches of choice under risk as well as to point out their major differences.
Valuation of Projects and Real Options in Incomplete Markets
, 2004
"... OF LICENTIATE THESIS Department of Engineering Physics and Mathematics P.O. Box 2200, FIN02015 HUT, FINLAND Author: Janne Gustafsson Department: Department of Engineering Physics and Mathematics Major subject: Systems Analysis and Operations Research Minor subject: Strategy and International ..."
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Cited by 3 (1 self)
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OF LICENTIATE THESIS Department of Engineering Physics and Mathematics P.O. Box 2200, FIN02015 HUT, FINLAND Author: Janne Gustafsson Department: Department of Engineering Physics and Mathematics Major subject: Systems Analysis and Operations Research Minor subject: Strategy and International Business English title: Valuation of Projects and Real Options in Incomplete Markets Finnish title: Projektien ja reaalioptioiden arvonmritys eptydellisill markkinoilla Number of pages: 105 Chair: Mat2 Applied Mathematics Supervisor: Professor Ahti Salo Instructor: Professor Ahti Salo Abstract: This thesis presents a framework for valuing risky projects and its extension for the valuation of real options and managerial flexibility. The framework is also applied in a case where the investor's probability estimates are imprecise or unknown.
Essentials of game theory
, 2008
"... doi:10.1145/1378704.1378721 The most dramatic interaction between CS and GT may involve gametheory pragmatics. ..."
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doi:10.1145/1378704.1378721 The most dramatic interaction between CS and GT may involve gametheory pragmatics.
THE THEORY:':! by
"... §l.l Introduction. The analysis of learning behaviQr as a stbchastic process began only within the last decade. It seems that the first serious article in this direction was W.K. Estes ' "Towards a statistical ..."
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§l.l Introduction. The analysis of learning behaviQr as a stbchastic process began only within the last decade. It seems that the first serious article in this direction was W.K. Estes ' "Towards a statistical
Valuing Risky Projects with Contingent Portfolio Programming
, 2005
"... This paper examines the valuation of multiperiod projects in a setting where (i) the investor maximizes her terminal wealth level, (ii) she can invest in securities and private investment opportunities, and (iii) markets are incomplete, i.e. the cash flows of private investments cannot necessarily ..."
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This paper examines the valuation of multiperiod projects in a setting where (i) the investor maximizes her terminal wealth level, (ii) she can invest in securities and private investment opportunities, and (iii) markets are incomplete, i.e. the cash flows of private investments cannot necessarily be replicated using financial securities. Based on Gustafsson and Salo’s (2005) Contingent Portfolio Programming, we develop a multiperiod mixed asset portfolio selection model, where project management decisions are captured through projectspecific decision trees. This model properly captures the opportunity costs imposed by alternative investment opportunities and determines the appropriate riskadjustment to the projects based on their effect on the investor’s aggregate portfolio risk. The project valuation procedure is based on the concepts of breakeven selling and buying prices, which require the solution of mixed asset portfolio selection models with and without the project being valued. The valuation procedure is demonstrated through numerical experiments.
Adaptive Thinking: Rationality in the Real World. By Gerd
"... Gerd Gigerenzer is a man with a mission, and a mission that has some point to it. He wants to show that people are rational decision makers, most of the time. To understand why Gigerenzer is on this mission we have to have a bit of background. Modern ideas about rationality are very largely based on ..."
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Gerd Gigerenzer is a man with a mission, and a mission that has some point to it. He wants to show that people are rational decision makers, most of the time. To understand why Gigerenzer is on this mission we have to have a bit of background. Modern ideas about rationality are very largely based on Von Neumann and Morgenstern’s (1947) Theory of Games and Economic Behavior, a masterful analysis of decision making. Von Neumann and Morgenstern assumed that life consists of choices between lotteries, where if you take action A you will receive award R1 with probability p1, award R2 with probability p2, and so forth. This depiction can be applied very widely. You can choose to invest your money in one stock or another. That is clearly a choice between lotteries. While walking on the shady side of the street you can choose to cross to the sunny side or not, and there’s a chance you might be hit by a car. You are trading “coolness for sure” against “sunny walk, probability p1 or hit by a car, probability 1p1.” Von Neumann and Morgenstern postulated a small number of statements that