A locally-built, LLM-digested index of recent arXiv papers in quant finance, geometry/topology, and statistical ML — keyword search served straight from SQLite on this machine.
Paper finds closed-form solutions for tontine with bequest motive.
We introduce a new pension product that offers retirees the opportunity for a lifelong income and a bequest for their estate. Based on a tontine mechanism, the product divides pension savings between a tontine account and a bequest account. The tontine account is given up to a tontine pool upon death while the bequest …
New method uses adversarial training for structural model estimation.
The paper addresses optimal control in modern tontines with bequest preferences, showing a linear investment strategy.
We determine the optimal strategies for purchasing term life insurance and for investing in a risky financial market in order to maximize the probability of reaching a bequest goal while consuming from an investment account. We extend Bayraktar and Young (2015) by allowing the individual to purchase term life insurance…
In this paper, optimal consumption and investment decisions are studied for an investor who can invest in a fixed interest rate bank account and a stock whose price is a log normal diffusion. We present the method of the HJB equation in order to explicitly solve problems of this type with modifications such as a fixed …
Investigates timing and asset allocation for life insurance in uncertain financial planning.
We determine how an individual can use life insurance to meet a bequest goal. We assume that the individual's consumption is met by an income, such as a pension, life annuity, or Social Security. Then, we consider the wealth that the individual wants to devote towards heirs (separate from any wealth related to the afor…
We consider the problem of how an individual can use term life insurance to maximize the probability of reaching a given bequest goal, an important problem in financial planning. We assume that the individual buys instantaneous term life insurance with a premium payable continuously. By contrast with Bayraktar et al. (…
New tontine model with transaction costs for retirees.
Deep neural network optimizes retirement consumption in defined contribution pensions.
The paper optimizes insurance purchases for financial goals.
The paper optimizes DIA purchase policies using lifecycle models and asset allocation.
We determine the optimal strategy for investing in a Black-Scholes market in order to maximize the probability that wealth at death meets a bequest goal , a type of goal-seeking problem, as pioneered by Dubins and Savage (1965, 1976). The individual consumes at a constant rate , so the level of wealth required fo…
The paper analyzes optimal timing for converting wealth into annuities in the presence of a mortality shock.
This paper presents a dynamic model to study the impact on the economic outcomes in different societies during the Malthusian Era of individualism (time spent working alone) and collectivism (complementary time spent working with others). The model is driven by opposing forces: a greater degree of collectivism provides…
Homeownership boosts wealth and welfare compared to renting, according to new research.
The "standard" Merton formulation of optimal investment and consumption involves optimizing the integrated lifetime utility of consumption, suitably discounted, together with the discounted future bequest. In this formulation the utility of consumption at any given time depends only on the amount consumed at that time.…
Optimal timing for converting savings into annuities considering mortality risk.
In this paper, we develop an expected utility model for the retirement behavior in the decumulation phase of Australian retirees with sequential family status subject to consumption, housing, investment, bequest and government provided means-tested Age Pension. We account for mortality risk and risky investment assets,…
Optimizes retirement income with MBGs and neural networks for longevity risk.
This paper offers a financial economic perspective on the optimal time (and age) at which the owner of a Variable Annuity (VA) policy with a Guaranteed Living Withdrawal Benefit (GLWB) rider should initiate guaranteed lifetime income payments. We abstract from utility, bequest and consumption preference issues by treat…
Introduces RPU to explain randomization preference in dynamic settings.
Paper shows intrinsic motivation boosts exploration efficiency in HRL.
The paper calculates the motive of a specific knot's character variety.
Research identifies four motivational groups for crypto-metaverse landowners.
Paper reviews intrinsic motivations and their role in open-ended learning.
The paper connects Chern-Simons invariants to mixed Tate motives in hyperbolic 3-manifolds.
We show that, when considering the scaling factor as an affine variable, the coefficients of the asymptotic expansion of the spectral action on a (Euclidean) Robertson-Walker spacetime are periods of mixed Tate motives, involving relative motives of complements of unions of hyperplanes and quadric hypersurfaces and div…
Is it possible to predict the motivation of players just by observing their gameplay data? Even if so, how should we measure motivation in the first place? To address the above questions, on the one end, we collect a large dataset of gameplay data from players of the popular game Tom Clancy's The Division. On the other…
We show that, when considering the anisotropic scaling factors and their derivatives as affine variables, the coefficients of the heat kernel expansion of the Dirac-Laplacian on Bianchi IX metrics are algebro-geometric periods of motives of complements in affine spaces of unions of quadrics and hyperplanes. We …
We prove a motivic stabilization result for the cohomology of the local systems on configuration spaces of varieties over attached to character polynomials. Our approach interprets the stabilization as a probabilistic phenomenon based on the asymptotic independence of certain *motivic random variables*, an…
Study shows how to motivate AI agents like humans through learning from demonstrations.
AMIGo uses adversarial intrinsic goals to teach RL agents new skills.
We present some ideas for a possible Noncommutative Floer Homology. The geometric motivation comes from an attempt to build a theory which applies to practically every 3-manifold (closed, oriented and connected) and not only to homology 3-spheres. There is also a physical motivation: one would like to construct a nonco…
Study intrinsic motivation for synergistic tasks in reinforcement learning.
New clustering methods use motifs to organize networks.
In recent years, reinforcement learning (RL) methods have been applied to model gameplay with great success, achieving super-human performance in various environments, such as Atari, Go, and Poker. However, those studies mostly focus on winning the game and have largely ignored the rich and complex human motivations, w…
Skip connections improve biologically-inspired learning rules.
Researchers prove birational invariance of BCOV invariant using motivic integration.
Stratifies representation varieties of twisted Hopf links.
We test the hypothesis that interconnections across financial institutions can be explained by a diversification motive. This idea stems from the empirical evidence of the existence of long-term exposures that cannot be explained by a liquidity motive (maturity or currency mismatch). We model endogenous interconnection…
This review connects knot invariants to quiver representations.
Model predicts active and passive cosponsorship motivations in Congress.
Proposes MCCF to distinguish latent purchasing motivations in user-item interactions.
We view strict ring spectra as generalized rings. The study of their algebraic K-theory is motivated by its applications to the automorphism groups of compact manifolds. Partial calculations of algebraic K-theory for the sphere spectrum are available at regular primes, but we seek more conceptual answers in terms of lo…
This paper presents the Homeo-Heterostatic Value Gradients (HHVG) algorithm as a formal account on the constructive interplay between boredom and curiosity which gives rise to effective exploration and superior forward model learning. We envisaged actions as instrumental in agent's own epistemic disclosure. This motiva…
The paper models musical motif transformations in Beethoven's works.