Decision principles derived from risk measures

In this paper, we argue that a distinction exists between risk measures and decision principles. Though both are functionals assigning a real number to a random variable, we think there is a hierarchy between the two concepts. Risk measures operate on the first “level”, quantifying the risk in the situation under consideration, while decision principles operate on the second “level”, often being derived from the risk measure. We illustrate this distinction with several canonical examples of economic situations encountered in insurance and finance.Special attention is paid to the role of axiomatic characterizations in determining risk measures and decision principles. Some new axiomatic characterizations of families of risk measures and decision principles are also presented.     

A note on additive risk measures in rank-dependent utility

This note proves that risk measures obtained by applying the equivalent utility principle in rank-dependent utility are additive if and only if the utility function is linear or exponential and the probability weighting (distortion) function is the identity.     

An efficient one-pot synthesis of coumarin-amino acid derivatives as potential anti-inflammatory and antioxidant agents

Abstract

A series of seven coumarinyl-amino acid ester conjugates have been synthesized and characterized by NMR (¹H and 13C) and mass spectra. Further, the compounds were investigated for their therapeutic applications such as anti-inflammatory and antioxidant activities. Among the synthesized compounds most of the analogs showed good efficiency compared with the standard.     

Über Cinchomeron- und Apophyllensäure

Ohne Zusammenfassung     

Über den Phosphorgehalt von HÜhnereiwei\

Ohne Zusammenfassung     

Application of the problem of moments to derive bounds on integrals with integral constraints

Recently a lot of results (for a review see Goovaerts et al. (1983)) have been obtained for bounds on stop-loss premiums in case of incomplete information on the claim distribution.As a consequence some extremal distributions (depending on the retention limit) have been characterized. The extremal distributions for the stop-loss ordering in case of fixed values of the retention limit are obtained by means of deep results from the theory of convex analysis. In the present contribution it is shown, by means of some results from the problem of moments, how bounds on integrals with integral constraints can be obtained. We assume only the knowledge of the moments μ₀, μ₁, …, μ_n.     

A branch and bound algorithm for the acyclic subgraph problem

A branch and bound algorithm for the acyclic subgraph problem (feedback are set problem) is described. The branching scheme lexicographically enumerates all permutations, skipping initial segments known by some easy tests not to have any optimal completion. A lower bound for the number of feedback arcs is given by the size of any collection of disjoint cycles. We propose a heuristic algorithm to find a large collection. The size of the problems our branch and bound algorithm can solve varies from 25 to 34 nodes, depending on the nature of the problem.