Study equilibrium consumption habits in a large population using mean field games.
problem Equilibrium consumption under external habit formation in a large population.
method Formulated and solved mean field games for linear and multiplicative habit formation preferences, constructed approximate Nash equilibria for large n-player games.
result Characterized mean field equilibrium strategies and derived financial implications.
This paper analyzes optimal consumption strategies for loss-averse investors with multiplicative habit formation.
problem Optimal consumption strategies for loss-averse investors with multiplicative habit formation.
method The study uses a concave envelope of the S-shaped utility function and a nonlinear free boundary problem to analyze the HJB equation.
result The paper provides optimal consumption and investment policies in feedback form.
Greedy algorithm optimizes consumption habits with power utility.
problem Optimizing lifetime consumption with habit formation under power utility.
method Developed a greedy algorithm using Monte Carlo simulation.
result Greedy solution is a good approximation to the optimal solution.
Paper offers a dual formulation for consumption problem with multiplicative habit.
problem Optimal consumption with multiplicative habit formation.
method Dual formulation using Fenchel's Duality Theorem.
result Strong duality result linking primal and dual controls.
Optimal investment and consumption model with habit formation constraint.
problem Formulating an optimal investment and consumption model with habit formation constraint.
method Formulated an infinite-horizon optimal investment and consumption problem with habit formation model, derived explicit policies, and analyzed the system of differential equations.
result Optimal investment and consumption policies derived explicitly, showing different consumption and investment strategies based on habit formation level.
The paper optimizes retirement spending considering habit formation and pension income.
problem Optimizing lifetime consumption under habit formation and pension income.
method Time inhomogeneous stochastic control problem with numerical solution using finite difference scheme.
result Consumption patterns change over time based on habit and optimal strategy.
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.…
We solve an optimal consumption problem with habit formation constraints.
problem Maximizing utility with habit formation constraints.
method Formulated and solved a deterministic optimal consumption problem.
result Optimal consumption policies derived explicitly.
Model asset pricing with habit formation in a large market.
problem Understanding asset pricing in large heterogeneous markets with habit formation.
method Mean field game theory and quadratic-growth mean field BSDEs.
result Derives a semi-analytic solution for asset pricing model.
Study optimal investment and consumption strategies for competitive agents with habit formation.
problem Optimal investment and consumption strategies for competitive agents with habit formation.
method Formulated n-agent game problems and mean field game problems, derived mean field equilibrium, constructed approximate Nash equilibrium.
result Explicit convergence order of approximate Nash equilibrium can be obtained.
This paper analyzes popular time-nonseparable utility functions that describe "habit formation" consumer preferences comparing current consumption with the time averaged past consumption of the same individual and "catching up with the Joneses" (CuJ) models comparing individual consumption with a cross-sectional averag…
We consider a model of optimal investment and consumption with both habit formation and partial observations in incomplete Itô processes market. The investor chooses his consumption under the addictive habits constraint while only observing the market stock prices but not the instantaneous rate of return. Applying the …
This paper studies the optimal consumption under the addictive habit formation preference in markets with transaction costs and unbounded random endowments. To model the proportional transaction costs, we adopt the Kabanov's multi-asset framework with a cash account. At the terminal time T, the investor can receive unb…
We consider a power utility maximization problem with additive habits in a framework of discrete-time markets and random endowments. For certain classes of incomplete markets, we establish estimates for the optimal consumption stream in terms of the aggregate state price density, investigate the asymptotic behaviour of…
This paper studies a composite problem involving the decision making of the optimal entry time and dynamic consumption afterwards. In stage-1, the investor has access to full market information subjecting to some information costs and needs to choose an optimal stopping time to initiate stage-2; in stage-2, the investo…
Unified framework explains retirement and annuitization decisions under age-dependent mortality.
problem Complexity of annuitization decisions due to longevity risk and labor force participation.
method Stochastic control and optimal stopping framework with habit formation and endogenous labor supply.
result Rich sequence of retirement dynamics, including defensive and aggressive labor supply phases.
We provide a detailed characterization of the optimal consumption stream for the additive habit-forming utility maximization problem, in a framework of general discrete-time incomplete markets and random endowments. This characterization allows us to derive the monotonicity and concavity of the optimal consumption as a…
This paper studies the continuous time utility maximization problem on consumption with addictive habit formation in incomplete semimartingale markets. Introducing the set of auxiliary state processes and the modified dual space, we embed our original problem into a time-separable utility maximization problem with a sh…
The paper analyzes optimal retirement strategies in a market with habit persistence and jump diffusion, finding discontinuous investment strategies.
problem Optimal retirement decision in a market with habit persistence and jump diffusion.
method Habit reduction method and duality approach to solve the dual problem using a C1 version of Itô's formula. result Discontinuous investment strategies are possible when the so-called ``de facto wealth'' exceeds a critical proportion of wage.
In this paper, we work in the framework of the Merton problem but we impose a drawdown constraint on the consumption process. This means that consumption can never fall below a fixed proportion of the running maximum of past consumption. In terms of economic motivation, this constraint represents a type of habit format…
Method discovers user habits from mobile data.
problem Understanding human mobility patterns and habits.
method Density-based clustering for spatio-temporal data and Gaussian Mixture Model (GMM).
result Many unique habits were identified from the datasets.
We explore the efficacy of using a novel activation function in Artificial Neural Networks (ANN) in characterizing exoplanets into different classes. We call this Saha-Bora Activation Function (SBAF) as the motivation is derived from long standing understanding of using advanced calculus in modeling habitability score …
Proposes a new consumption strategy based on martingale principles.
problem Optimizing consumption based on investment strategies without risk preferences.
method Introduces martingale consumption as a consumption pattern that adjusts to expected future consumption.
result Identifies explicit solutions in deterministic models and establishes uniqueness in general cases.
The paper studies vector bundles over surfaces, focusing on singularity formation.
problem Understanding singularity formation in rank two holomorphic vector bundles over surfaces.
method Defining fertile families bearing bubbles and using elementary modifications to prove their existence.
result Existence of fertile families bearing bubbles for certain types of vector bundles.
New data shows multiple black holes can form from modified vacuum data.
problem Formation of multiple black holes from modified vacuum data.
method Modified Brill-Lindquist metric, short-pulse framework, stability analysis, gluing method.
result Formation of multiple black holes in finite time under weak cosmic censorship.
Paper proposes personalized climate control for driver comfort.
problem Limited research on in-vehicle climate control and driver preferences.
method IoT platform for data collection, machine learning for driver behavior recognition, and personalized preference recommendation.
result Prototype demonstrates effective and accurate climate control for driver comfort.
We study two kinds of economic exchange, additive and multiplicative, in a system of N agents. The work is divided in two parts, in the first one, the agents are free to interact with each other. The system evolves to a Boltzmann-Gibbs distribution with additive exchange and condenses with a multiplicative one. If bank…
We consider the motion by curvature of a network of curves in the plane and we discuss existence, uniqueness, singularity formation and asymptotic behavior of the flow.
Blended courses that mix in-person instruction with online platforms are increasingly popular in secondary education. These tools record a rich amount of data on students' study habits and social interactions. Prior research has shown that these metrics are correlated with students' performance in face to face classes.…
We present analytical exploration of novel activation functions as consequence of integration of several ideas leading to implementation and subsequent use in habitability classification of exoplanets. Neural networks, although a powerful engine in supervised methods, often require expensive tuning efforts for optimize…
Researchers create initial data for multiple collapsing boson stars.
problem Forming multiple trapped surfaces in spacetime.
method Constructed Cauchy initial data for EMKG system.
result Multiple trapped surfaces form in finite time.
Proposes CVKT to complete missing kernel matrices across multiple views.
problem Missing data in multiple views of kernel matrices.
method Cross-View Kernel Transfer (CVKT) with kernel alignment.
result Predicts missing values in kernel matrices using other views' data.
The popularity of high and ultra-high definition displays has led to the need for methods to improve the quality of videos already obtained at much lower resolutions. Current Video Super-Resolution methods are not robust to mismatch between training and testing degradation models since they are trained against a single…
Although compelling assessments have been examined in recent years, more studies are required to yield a better understanding of the several methods where assessment techniques significantly affect student learning process. Most of the educational research in this area does not consider demographics data, differing met…
Develops asset pricing models with mean field game theory for heterogeneous agents.
problem Tackles equilibrium asset pricing in incomplete markets with heterogeneous agents.
method Uses mean field game theory and mean field backward stochastic differential equations (BSDEs).
result Derives equilibrium risk premium and shows market clearing in the large population limit.
New method explains classifiers trained on raw hierarchical data.
problem Lack of interpretability in classifiers trained on raw structured data.
method Treating classifiers as subset selection problems, generating interpretable explanations efficiently.
result Computational efficiency and higher-quality explanations compared to existing methods.
Self-supervised fine-tuning corrects SR CNNs for unseen models and artifacts.
problem SR CNNs' lack of robustness to unseen image formation models and generation of artifacts.
method Iterative fine-tuning using a data fidelity loss at test time.
result Successfully corrects SR solutions for unseen models and GAN artifacts.
The study compares uniform-price and discriminatory auctions in terms of learning difficulty.
problem Comparing the learning difficulty of uniform-price and discriminatory multi-unit auctions.
method Characterization of learning difficulty through regret minimization in both full-information and bandit feedback settings.
result Regret scales similarly for both auction formats under full-information, but uniform-price auctions can achieve faster learning rates.
Constructs initial data for multiple black holes with specified ADM parameters.
problem Forming multiple black holes with specific ADM parameters.
method Smooth, asymptotically flat vacuum initial data with prescribed ADM energy, momentum, and angular momentum.
result Maximal development of data results in spacetimes containing multiple black holes.
FAL improves formation resistivity prediction from cased boreholes with noise resistance.
problem Noise and high-frequency disaster in predicting formation resistivity from cased boreholes.
method Frequency-aware framework and temporal anti-noise block for LSTM.
result FAL achieves a 24.3% improvement in R2 over LSTM, reaching R2=0.91.
Extends geometrical description of tensor manifolds in tree-based formats.
problem Geometrical description of tensor manifolds in tree-based formats.
method Provided a new geometrical description of manifolds of tensors in tree-based format.
result Geometrical description compatible with Tucker format.
PCRs compress data for deep learning, reducing training time.
problem Efficiently training deep learning models over large datasets.
method Combining progressive compression with an efficient storage layout.
result PCRs can tolerate up to 50% compression without significantly affecting training accuracy.
Simulating fluid flow in geological formations requires mesh generation, lithology mapping to the cells, and computing geometric properties such as normal vectors and volume of cells. The purpose of this research work is to compute and process the geometrical information required for performing numerical simulations in…
Study singularity formation in Ricci flow solutions.
problem Understanding singularity behavior in noncompact manifolds.
method Analyzing complete Ricci flow solutions.
result Evidence for stability of generalized cylinders as singularity models.
The paper models network formation using mixed logit models.
problem Modeling network formation in various fields.
method Mixed logit models, specifically the repeated-choice (RC) model.
result The RC model outperforms the multinomial logit (MNL) model in estimating network formation.
SoccerCPD detects tactical changes in soccer matches using spatiotemporal tracking data.
problem Detecting consistent team formations in fluid sports like soccer.
method Two-step change-point detection: formation and role changes.
result Accurately detects tactical changes and estimates formation and role assignments.
Deep learning calibrates CO2 storage formations from seismic and well data.
problem Uncertainty in CO2 storage formation properties.
method Two deep learning models for well and seismic data, integrated into MCMC history matching.
result Significant uncertainty reduction in key parameters and accurate CO2 plume predictions.
Study on diffeologies on locally convex spaces and smooth multiplication of distributions.
problem Geometric characterization and smoothness of distribution multiplication.
method Investigation of canonical and c∞-diffeologies on locally convex spaces, proving geometric characterizations, and comparing diffeologies. result Established a framework for nonlinear distribution theory beyond manifolds, realizing microlocally multipliable distributions as a diffeological colimit.