Time Consistent Dynamic Risk Measures

We introduce the time-consistency concept that is inspired by the so-called “principle of optimality” of dynamic programming and demonstrate – via an example – that the conditional value-at-risk (CVaR) need not be time-consistent in a multi-stage case. Then, we give the formulation of the target-percentile risk measure which is time-consistent and hence more suitable in the multi-stage investment context. Finally, we also generalize the value-at-risk and CVaR to multi-stage risk measures based on the theory and structure of the target-percentile risk measure.     

Infinite Matroidal Version of Hall's Matching Theorem

Hall's theorem for bipartite graphs gives a necessary and sufficientcondition for the existence of a matching in a given bipartitegraph. Aharoni and Ziv have generalized the notion of matchabilityto a pair of possibly infinite matroids on the same set andgiven a condition that is sufficient for the matchability ofa given pair (M, W) of finitary matroids, where the matroidM is SCF (a sum of countably many matroids of finite rank).The condition of Aharoni and Ziv is not necessary for matchability.The paper gives a condition that is necessary for the existenceof a matching for any pair of matroids (not necessarily finitary)and is sufficient for any pair (M, W) of finitary matroids,where the matroid M is SCF.     

Tame kernels of cubic cyclic fields

There are many results describing the structure of the tame kernels of algebraic number fields and relating them to the class numbers of appropriate fields. In the present paper we give some explicit results on tame kernels of cubic cyclic fields. Table 1 collects the results of computations of the structure of the tame kernel for all cubic fields with only one ramified prime

In particular, we investigate the structure of the 7-primary and 13-primary parts of the tame kernels. The theoretical tools we develop, based on reflection theorems and singular primary units, enable the determination of the structure even of 7-primary and 13-primary parts of the tame kernels for all fields as above. The results are given in Tables 2 and 3.

     

Some relationships among quasidifferential,weak subdifferential and exhausters

In this study, some relationships between quasidifferentiability and weakly subdifferentiability of a function are investigated, and some results on calculating the quasidifferential in terms of weak exhausters are presented. Moreover, under some assumptions weak subdifferentiability of a quasidifferentiable function is proved and the weak subdifferential is obtained by using the quasidifferential. Under some assumptions, it is proved that a positively homogeneous and lower semicontinuous function is quasidifferentiable. It is also shown that directional differentiability and weak subdifferentiability imply quasidifferentiability. Furthermore, a method to evaluate the quasidifferential is given by using reduced weak lower exhausters.     

The influence of some fuzzy implication operators on the accuracy of a fuzzy model-part II

The influence of fuzzy implication operators and the connective Also on the accuracy of a fuzzy model of a d.c. series motor is considered. Some typical fuzzy implication operators are applied to the construction of a fuzzy model of a d.c. series motor. A root-mean-square error is used as the criterion of the fuzzy model's adequacy to the real system. A number of mathematical operations necessary for the implementation of the fuzzy model are used as the criterion by which the fuzzy model's applicability if estimated from the point of view of computing techniques. The best types of fuzzy relations, representing fuzzy models of a real system, are chosen in order to secure the least root-mean-square error with minimal number of mathematical operations necessary for computer implementation.     

On fuzzy multi-valued functions part 2: Some topological properties

In this paper new topological concepts connected with fuzzy multi-valued functions theory-as presented in the first part of this work-are introduced and their properties are investigated. As will be shown in future papers these concepts and properties are indispensable in connection with the analysis of fuzzy economic systems.     

Deformed preprojective algebras of generalized Dynkin type

We introduce the class of deformed preprojective algebras of generalized Dynkin graphs (), (), , , and () and prove that it coincides with the class of all basic connected finite-dimensional self-injective algebras for which the inverse Nakayama shift of every non-projective simple module is isomorphic to its third syzygy .

     

Self-maps of <Emphasis Type="Italic">S</Emphasis><Superscript>2</Superscript> homotopic to a smooth map with a single <Emphasis Type="Italic">n</Emphasis>-periodic point

We show for which (d,n) ∈ Z×N there exists a smooth self-map f:S² → S² so that deg(f)=d and Fix(fⁿ) is a point.     

Bounded sets structure of CpX and quasi‐(DF)‐spaces

For wide classes of locally convex spaces, in particular, for the space $C_p(X)$ of continuous real‐valued functions on a Tychonoff space X equipped with the pointwise topology, we characterize the existence of a fundamental bounded resolution (i.e., an increasing family of bounded sets indexed by the irrationals which swallows the bounded sets). These facts together with some results from Grothendieck's theory of $(DF)$‐spaces have led us to introduce quasi‐ $(DF)$‐spaces, a class of locally convex spaces containing $(DF)$‐spaces that preserves subspaces, countable direct sums and countable products. Regular $(LM)$‐spaces as well as their strong duals are quasi‐ $(DF)$‐spaces. Hence the space of distributions $D^{\prime }(\mathrm{\Omega })$ provides a concrete example of a quasi‐ $(DF)$‐space not being a $(DF)$‐space. We show that $C_p(X)$ has a fundamental bounded resolution if and only if $C_p(X)$ is a quasi‐ $(DF)$‐space if and only if the strong dual of $C_p(X)$ is a quasi‐ $(DF)$‐space if and only if X is countable. If X is metrizable, then $C_k(X)$ is a quasi‐ $(DF)$‐space if and only if X is a σ‐compact Polish space.     

Time irregularity of generalized Ornstein–Uhlenbeck processes

This Note is concerned with the properties of solutions to a linear evolution equation perturbed by a cylindrical Lévy process. It turns out that solutions, under rather weak requirements, do not have a càdlàg modification. Some natural open questions are also stated.