The classical theory of comparative risk aversion shows the equivalence of various criteria for comparing the aversion of cardinal preferences to risks with real outcomes. Parts of this theory have been extended to outcomes in Euclidean spaces. We complete, unify and generalize this theory. Our...

Banks must manage their trading books, not just value them. Pricing includes valuation adjustments collectively known as XVA (at least credit, funding, capital and tax), so management must also include XVA. In trading book management we focus on pricing, hedging, and allocation of prices or...

It is well-known that various criteria for comparing aversion to real-outcome risks are equivalent. Some of this theory has been extended to Euclidean-outcome risks. We extend it further by:(a) filling the conceptual gaps, most notably by providing a criterion using our generalized Arrow-Pratt...

Given a utility defined on a Hilbert outcome space, we define at each outcome a generalized Arrow-Pratt (GAP) coefficient belonging to the Hilbert space. Comparing the risk aversion of such utilities using their GAP coefficients is equivalent to doing so in terms of other standard,...

Due to the few computing resource planning options currently available in Grid computing, capacity planning, an old discipline for analyzing resource purchases, is simple to perform. However, once a commercial computing Grid is established, which provides many different resource types at...

Morgan (1983) guaranteed that VSS dominated both FSS and SSR. But it is difficult to calculate the optimal sample size and the optimal reservation price both without recall and with full recall. As VSS without recall is a simplification of VSS with full recall, we will present on appendix a VB30...

This paper considers the problem of changing prices over time to maximize expected revenues in the presence of unknown demand distribution parameters. It provides and compares several methods that use the sequence of past prices and observed demands to set price in the current period. A Taylor...

If we reassess the rationality question under the assumption that the uncertainty of the natural world is largely unquantifiable, where do we end up? In this article the author argues that we arrive at a statistical, normative, and cognitive theory of ecological rationality. The main casualty of...

In this paper, we present an agent-based simulation system that allows modeling the interactions between software buyers and vendors in a software market. The market offers Software-as-a-Service (SaaS) and perpetual software (PS) licenses under different pricing schemes. Four dynamic pricing...

This paper considers the problem of changing prices over time to maximize expected revenues in the presence of unknown demand distribution parameters. It provides and compares several methods that use the sequence of past prices and observed demands to set price in the current period. A Taylor...