arXiv research

Fairly allocate items with noisy queries, reducing envy.

In this paper we consider a modification of the classical Merton portfolio optimization problem. Namely, an investor can trade in financial asset and consume his capital. He is additionally endowed with a one unit of an indivisible asset which he can sell at any time. We give a numerical example of calculating the opti…

We provide an extension of the explicit solution of a mixed optimal stopping-optimal stochastic control problem introduced by Henderson and Hobson. The problem examines wether the optimal investment problem on a local martingale financial market is affected by the optimal liquidation of an independent indivisible asset…

The analysis of markets with indivisible goods and fixed exogenous prices has played an important role in economic models, especially in relation to wage rigidity and unemployment. This research report provides a mathematical and computational details associated to the mathematical programming based approaches proposed…

We fix integers $k> 0$ and $n>0$. For a $k$-punctured Riemann surface $Σ\setminus \{ p_1,\ldots,p_k \}$ and a $k$-tuple $\boldsymbolμ=(μ^1,\ldots,μ^k)$ of partitions of $n$, we can define the character variety of type $\boldsymbolμ$. In this paper, we consider the case where $Σ=\mathbb{P}^1$ and $\boldsymbolμ$ is indiv…

This work takes up the challenges of utility maximization problem when the market is indivisible and the transaction costs are included. First there is a so-called solvency region given by the minimum margin requirement in the problem formulation. Then the associated utility maximization is formulated as an optimal swi…

Study on Spanish households' investment choices in housing, deposits, and stocks.

We study equilibrium in hedonic markets, when consumers and suppliers have reservation utilities, and the utility functions are separable with respect to price. There is one indivisible good, which comes in different qualities; each consumer buys 0 or 1 unit, and each supplier sells 0 or 1 unit. Consumer types, supplie…

New algorithms for fair item allocation with limited copies.

Let $F$ be a leafwise hyperbolic taut foliation of a closed 3-manifold $M$ and let $L$ be the leaf space of the pullback of $F$ to the universal cover of $M$. We show that if $F$ has branching, then the natural action of $π_1(M)$ on $L$ is faithful. We also show that if $F$ has a finite branch locus $B$ whose stabilize…

In this paper we determine the integral homology and cohomology groups of a closed 4-manifold X obtained as the generalized fibre sum of two closed 4-manifolds M and N along embedded surfaces of genus g and self-intersection zero. If the homologies of the 4-manifolds are torsion free and the surfaces represent indivisi…

We consider two risk-averse financial agents who negotiate the price of an illiquid indivisible contingent claim in an incomplete semimartingale market environment. Under the assumption that the agents are exponential utility maximizers with non-traded random endowments, we provide necessary and sufficient conditions f…

Study shows compact mapping class groups of infinite type surfaces are never perfect.

A new constructivist approach to modeling in economics and theory of consciousness is proposed. The state of elementary object is defined as a set of its measurable consumer properties. A proprietor's refusal or consent for the offered transaction is considered as a result of elementary economic measurement. Elementary…

A speculative agent with Prospect Theory preference chooses the optimal time to purchase and then to sell an indivisible risky asset to maximize the expected utility of the round-trip profit net of transaction costs. The optimization problem is formulated as a sequential optimal stopping problem and we provide a comple…

Clustering of data sets is a standard problem in many areas of science and engineering. The method of spectral clustering is based on embedding the data set using a kernel function, and using the top eigenvectors of the normalized Laplacian to recover the connected components. We study the performance of spectral clust…

In \cite{Ka14} we produced an algorithm for deciding whether or not an element $φ\in Out(F_N)$ is an iwip ("fully irreducible") automorphism. At several points that algorithm was rather inefficient as it involved some general enumeration procedures as well as running several abstract processes in parallel. In this pape…

We prove the Kobayashi-Hitchin correspondence between good wild harmonic bundles and polystable good filtered $λ$-flat bundles satisfying a vanishing condition. We also study the correspondence for good wild harmonic bundles with the homogeneity with respect to a group action, which is expected to provide another way t…

The paper defines conditions for good involutions in generalized Alexander quandles.

Ancient grain boundaries resemble atoms in their formation and properties.

3D good continuation model explains stereo vision using neurogeometry.

We study convex risk measures describing the upper and lower bounds of a good deal bound, which is a subinterval of a no-arbitrage pricing bound. We call such a convex risk measure a good deal valuation and give a set of equivalent conditions for its existence in terms of market. A good deal valuation is characterized …

Good atlases are defined for effective orbifolds, and a spark complex is constructed on each good atlas. It is proved that this process is 2-functorial with compatible systems playing as morphisms between good atlases, and that the spark character 2-functor factors through this 2-functor.

The study describes good involutions in quandles and Alexander quandles.

The study proves symplectic quandles cannot have good involutions.

This paper studies an environment of simultaneous, separate, first-price auctions for complementary goods. Agents observe private values of each good before making bids, and the complementarity between goods is explicitly incorporated in their utility. For simplicity, a model is presented with two first-price auctions …

We introduce a system of kinetic equations describing an exchange market consisting of two populations of agents (dealers and speculators) expressing the same preferences for two goods, but applying different strategies in their exchanges. We describe the trading of the goods by means of some fundamental rules in price…

We study a notion of good-deal hedging, that corresponds to good-deal valuation for generalized good-deal constraints. Under model uncertainty about the market prices of risk of hedging assets, a robust approach leads to a reduction or even elimination of a speculative component in good-deal hedging, which is shown to …

FF algorithm uses goodness as a likelihood-ratio test for scalar normalization.

Paper tackles good arm identification in stochastic bandits.

FF algorithm uses goodness as a measure of input quality, derived from likelihood-ratio tests.

Classifies good involutions in conjugation subquandles and racks.

We prove that a connected 2-dimensional orbifold with finitely generated and infinite orbifold fundamental group is good. We also describe all the good 2-dimensional orbifolds with finite orbifold fundamental groups

We shall provide in this paper good deal pricing bounds for contingent claims induced by the shortfall risk with some loss function. Assumptions we impose on loss functions and contingent claims are very mild. We prove that the upper and lower bounds of good deal pricing bounds are expressed by convex risk measures on …

A good cover in R^d is a collection of open contractible sets in R^d such that the intersection of any subcollection is either contractible or empty. Motivated by an analogy with convex sets, intersection patterns of good covers were studied intensively. Our main result is that intersection patterns of good covers are …

Study lenient regret and good-action identification in Gaussian process bandits.

New algorithms find all ε-good arms in stochastic bandits.

New theory shows perishable goods markets are more stable and efficient.

New robustness test for kernel goodness-of-fit tests.

We study robust notions of good-deal hedging and valuation under combined uncertainty about the drifts and volatilities of asset prices. Good-deal bounds are determined by a subset of risk-neutral pricing measures such that not only opportunities for arbitrage are excluded but also deals that are too good, by restricti…

We investigate the structure of good deal bounds, which are subintervals of a no-arbitrage pricing bound, for financial market models with convex constraints as an extension of Arai and Fukasawa (2014). The upper and lower bounds of a good deal bound are naturally described by a convex risk measure. We call such a risk…

Paper extends theorem on covering spaces and Jordan curves.

The purpose of this paper is to produce restrictions on fundamental groups of manifolds admitting good complexifications by proving the following Cheeger-Gromoll type splitting theorem: Any closed manifold $M$ admitting a good complexification has a finite-sheeted regular covering $M_1$ such that $M_1$ admits a fiber b…

A monopolist sells goods with possibly a characteristic consumers dislike (for instance, he sells random goods to risk averse agents), which does not affect the production costs. We investigate the question whether using undesirable goods is profitable to the seller. We prove that in general this may be the case, depen…

APGAI identifies good arms anytime with fixed budget.

We show that every good boundary link with a pair of derivative links on a Seifert surface satisfying a homotopically trivial plus assumption is freely slice. This subsumes all previously known methods for freely slicing good boundary links with two or more components, and provides new freely slice links.

Defines invariants for reflection groups and connects them to Frobenius structures.

We discuss construction of coverings of the unit ball of a finite dimensional Banach space. The well known technique of comparing volumes gives upper and lower bounds on covering numbers. This technique does not provide a construction of good coverings. Here we apply incoherent dictionaries for construction of good cov…