Expected utility

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  • We consider the problem of predictive inference for probabilistic binary sequence labeling models under F-score as utility. For a simple class of models, we show that the number of hypotheses whose expected Fscore needs to be evaluated is linear in the sequence length and present a framework for efficiently evaluating the expectation of many common loss/utility functions, including the F-score. This framework includes both exact and faster inexact calculation methods.

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  • Asset prices are determined by investors’ risk preferences and by the distributions of assets’ risky future payments. Economists refer to these two bases of prices as investor "tastes" and the economy’s "technologies" for generating asset returns. A satisfactory theory of asset valuation must consider how individuals allocate their wealth among assets having different future payments. This chapter explores the development of expected utility theory, the standard approach for modeling investor choices over risky assets....

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  • This paper proposes a new discriminative training method in constructing phrase and lexicon translation models. In order to reliably learn a myriad of parameters in these models, we propose an expected BLEU score-based utility function with KL regularization as the objective, and train the models on a large parallel dataset.

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  • 1 Efficient natural language generation has been successfully demonstrated using highly compiled knowledge about speech acts and their related social actions. A design and prototype implementation of a parser which utilizes this same pragmatic knowledge to efficiently guide parsing is presented. Such guidance is shown to prune the search space and thus avoid needless processing of pragmatically unlikely constituent structures.

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  • CAPM: Assumptions • Investors are risk-averse individuals who maximize the expected utility of their wealth • Investors are price takers and they have homogeneous expectations about asset returns that have a joint normal distribution (thus market portfolio is efficient) • There exists a risk-free asset such that investors may borrow or lend unlimited amount at a risk-free rate. • The quantities of assets are fixed. Also all assets are marketable and perfectly divisible. • Asset markets are frictionless. Information is costless and simultaneously available to all investors.

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  • Facing the rapidly changing global business and different cross-country customer cultures, luxury can be understood as a special transnational type of culture. It represents a system of tangible (clothing, cars, buildings, etc.), as well as intangible components comprising ideals, expected behaviors, and beliefs in a group specific value system. In a global marketplace, there is no understanding of luxury conceivable which is nationally or regionally bound. However, it has to be stated that to some extent ethnocentrism and ―country-of-origin‖ effects may interfere.

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  • Insurers anticipate this adverse job turnover dynamic. Nevertheless, insurers are expected to renew policies and may be reluctant or prohibited from increasing premiums rapidly. As a result, offered premiums for covering a previously uninsured firm are well above the initial expected costs for the firm’s worker’s current age and gender distributions. Such large premium loadings deter small firms from offering health insurance to their workers. A dynamic adverse selection problem emerges.

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  • THERE ARE few circumstances among those which make up the present condition of human knowledge, more unlike what might have been expected, or more significant of the backward state in which speculation on the most important subjects still lingers, than the little progress which has been made in the decision of the controversy respecting the criterion of right and wrong.

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  • In Istanbul, the business and financial services sectors form the major source of demand, with letting activity being mainly con- centrated on the European side, where more office space exists. The city’s modern Central Business District (CBD) is stretched on a ‘strip’ on the European side that crosses two separate boroughs and includes the areas of Levent, Esentepe, Zincirlikuyu and Maslak. The high quality office buildings (Class A) are mainly found in Levent and Maslak.

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  • Zhang (2004) designed a multi-index model to determine the effect of industry, country and international factors on asset pricing. Byers and Groth (2000) defined the asset pricing process as a function utility (economic factors) and non-economic (psychic) factors. Clerc and Pfister (2001) posit that monetary policy is capable of influencing asset prices in the long run. Any change in interest rates especially unanticipated change affects growth expectations and the rates for discounting investment future cash flows.

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  • Nevertheless, it also seems likely that substantial demand for voluntary GHG emission reductions can exist even where there are regulatory requirements. “Carbon neutrality” has become a goal for many companies seeking to attract customers by providing environmentally friendly products and services. Likewise, growing awareness about climate change has sparked an interest among many individuals to do their part to help solve the problem.

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  • Today customers have more choices, higher expectations, and greater influence. The voice of the customer has never been louder and has taken control of the conversation and forever changed the relationships with brands. Customers decide how, when, and where they want to engage with your brand—whether it’s in the store, on the Web, over the phone, or across their social networks. They expect you to know who they are and what they need, and to seamlessly recognize them at every touchpoint.

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  • (IB) sector and the general sector, denoted “f,” for financial, and “g,” respec- tively. Assume that, subject to expending some search effort, anyMBA can find employment in either of these two sectors immediately after graduation. Then, as the person graduates, he compares the expected utility streams from each of these sectors over the course of his future career. Let uf (w0 f ) be the expected utility, as of career year 0 (that is, upon graduation), of a career that starts in the IB sector. The function captures the person’s disutility of effort in investment banking.

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  • As a system administrator, the manager expects routine maintenance to be performed on all computer systems as necessary. Run the Scandisk and Defrag utilities on the appropriate machines to keep them running smoothly.

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  • This section develops an econometric framework that allows an investor to combine in- formation in the data with prior beliefs about both pricing and skill. Nonbenchmark assets allow us to distinguish between pricing and skill, and they supply additional information about funds' expected returns. In addition, nonbenchmark assets help account for common variation in funds' returns, making the investment problem feasible using a large universe of funds.

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  • This monograph has been prepared as my doctoral thesis in Economics at the Institute of Mathematical Economics (IMW), Bielefeld University, Germany. The dissertation has been accepted by the Department of Business Administration and Economics (Examiners: Prof. Dr. Walter Trockel and Prof. em. Dr. Joachim Rosenm¨uller). It has successfully been defended on June 13, 2007. With this work I strive to complement the recent literature on the evolution of preferences by investigating the non-expected utility case. I have divided the book into seven chapters....

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  • The remainder of this paper proceeds as follows: Section III introduces the Campbell- Shiller dividend-price ratio model and then briefly develops the variant used in my empirical analysis. Section IV provides a description of the data and empirical methodology and lays out the specific predictions of the model. Section V discusses the empirical findings, including tests of the model and hypothesis tests regarding expected inflation’s effect on equity valuations. In section VI, I construct explicit ex ante estimates of expected long-run stock returns.

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  • For many years now scholars have consistently mapped virtually all ideas about justice onto one of two continents. According to this cartography, the utilitarian territory is populated by views that stipulate a goal and derive a conception of justice from that goal or objective, usually by specifying a set of principles, rules, and institutions that are expected to be instrumental to its achievement. The most talked about goal in modern times has been the maximization of happiness.

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  • In an online survey of 895 technology stakeholders’ and critics’ expectations of social, political and economic change by 2020, fielded by the Pew Research Center’s Internet & American Life Project and Elon University’s Imagining the Internet Center:  Google won’t make us stupid: 76% of these experts agreed with the statement, “By 2020, people’s use of the Internet has enhanced human intelligence; as people are allowed unprecedented access to more information they become smarter and make better choices. Nicholas Carr was wrong: Google does not make us stupid.

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  • It has been remarked, my HERMIPPUS, that though the ancient philosophers conveyed most of their instruction in the form of dialogue, this method of composition has been little practised in later ages, and has seldom succeeded in the hands of those who have attempted it.

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