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The utility maximisation problem is considered for investors with anticipative additional information. We distinguish between models with conditional measures and models with enlarged filtrations. The dual functions of the maximal expected utility are determined with the help of f-divergences....
Persistent link: https://www.econbiz.de/10005862000
Choquet expected utility preferences.A decision maker is faced with an information structure represented bya filtration. We … show that the decision maker’s preferences respect dynamicconsistency on a fixed filtration if and only if the last stage … certainty equivalence consistency and constrained dynamicconsistency to filtration measurable acts, it is shown that the …
Persistent link: https://www.econbiz.de/10009249015
Corporation, are a critical component of the TRIGTM gasification process. The PCDs use dry filtration technology to remove … of this scale used for high-pressure, high-temperature filtration in a gasification process. The Kemper facility has …
Persistent link: https://www.econbiz.de/10012652004
the pore microstructure of the porous walls affecting soot deposition, oxidation, and pressure drops during filtration and …
Persistent link: https://www.econbiz.de/10011077711
The paper presents the state-of-the-art and the science underlying a new generation of modular breathing wall systems, and their implementation in new and refurbishment building projects. Examples of how these new breathing wall systems are being implemented in the UK and in other countries will...
Persistent link: https://www.econbiz.de/10010806241
We develop a stochastic theory for filtration of suspensions in porous media. The theory takes into account particle …
Persistent link: https://www.econbiz.de/10010874289
expected utility preferences. A decision maker is faced with an information structure represented by a filtration. We show that … the decision maker’s preferences respect dynamic consistency on a fixed filtration if and only if the last stage of the … filtration is composed of unambiguous events in the sense of Nehring (Math Social Sci 38:197–213, 1999). Adopting two axioms …
Persistent link: https://www.econbiz.de/10011073093
Motivated by Florens et al. (1993) and recent studies of stochastic systems with memory, we suggest the new concept of causality for continuous time stochastic processes which deal with finite horizon of the past. Also, we present results which show connections between the given concept of...
Persistent link: https://www.econbiz.de/10011040086
In this work we consider the concept of statistical causality between filtrations, and in particular a generalization of the causality relationship “G is a cause of J within H”. Then we apply this concept to strongly orthogonal martingales. We show the equivalence between the concepts of...
Persistent link: https://www.econbiz.de/10011040142
filtration: first by hydrocyclone filter which filters heavy suspended materials viz. sand, silt, etc., then by the sand filter … and finally by the screen filter. The filtration at three stages reduces the turbidity to the desired level. It has been … found that three-stage filtration reduced the turbidity to two NTU which is within permissible limit. Considering the cost …
Persistent link: https://www.econbiz.de/10010998167