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Title:

Convexity and Hamiltonian Equations in Differential Games.

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We study a zero sum differential game under strong assumptions of convexity - the cost is one convex for one player, and concave for the other. An explicit necessary and sufficient condition for a saddle point of the game is given in terms of convex analysis subgradients of the conjugate of the cost function. A generalized Hamiltonian equation i...

We study a zero sum differential game under strong assumptions of convexity - the cost is one convex for one player, and concave for the other. An explicit necessary and sufficient condition for a saddle point of the game is given in terms of convex analysis subgradients of the conjugate of the cost function. A generalized Hamiltonian equation is shown to describe saddle trajectories of the game. Minimize

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preprint

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Title:

The Integration of Mortgage Markets and Capital Markets

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In this paper, we develop a model to predict the impact of deregulation in the form of relaxing interest rate control on the integration between the mortgage credit market and the general credit market. The model is tested through the examination of the long-term Granger-like equilibrium relationship between mortgage interest rates and general i...

In this paper, we develop a model to predict the impact of deregulation in the form of relaxing interest rate control on the integration between the mortgage credit market and the general credit market. The model is tested through the examination of the long-term Granger-like equilibrium relationship between mortgage interest rates and general interest rates in the pre-1980 regulated vs. the post-1980 deregulated periods. It is shown that the level of regulation, in the form of targeting general interest rate levels, contributes to the segmentation of the mortgage market from the capital market. To test this model, we compare the relationship between mortgage interest rates and general interest rates around 1980 where major control on interest rate levels in capital markets was lifted. Using Engle and Granger's procedure to overcome the estimation problem from nonstationarity in the interest rate series, we are able to find that the two interest rates were cointegrated after 1980 but not before. More importantly, it appears that the two markets were already integrated before the full development of the secondary mortgage markets between 1984 and 1987. Therefore, we conclude that the bulk of the integration between the mortgage and capital markets was completed as a result of the removal of interest rate controls around 1980, in contrast with previous studies that find integration occurred during the mid-1980s primarily as a result of the rapid development of the secondary mortgage markets. Copyright American Real Estate and Urban Economics Association. Minimize

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article

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Title:

On the Seasonalities of Mortgage-Backed Security Prices

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In this paper, we investigate several well-documented seasonalities in the pricing of mortgage-backed securities. Parallel evidence to the equity markets is found in the GNMA pass-through markets for the existence of the day-of-the-week effect, the turn-of-the-month effect, the holiday effect, and the turn-of-the-year effect. While the striking ...

In this paper, we investigate several well-documented seasonalities in the pricing of mortgage-backed securities. Parallel evidence to the equity markets is found in the GNMA pass-through markets for the existence of the day-of-the-week effect, the turn-of-the-month effect, the holiday effect, and the turn-of-the-year effect. While the striking similarity of such seasonalities exists in both the financial asset prices of mortgage-backed securities and of the equity markets, it does not suggest that the underlying real estate assets also follow the same pattern. Since both the GNMA pass-throughs and common stocks are backed by vastly different real assets, the common evidence of seasonalities would only imply that the seasonalities may have been a result of capital market trading phenomena. Minimize

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article

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Title:

INTERPRETING DESCRIPTIONS IN A PROLOG-BASED KNOWLEDGE REPRESENTATION SYSTEM

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by using some appropriately defined description operator "K. " Similarly, descriptions of sets were seen to be useful. For example, the expression "at least 12 CS courses " might suggest the use of an expression like that in fig. 1. where the components grouped bv the left brace must be written once for each set of twelve CS courser. This is cle...

by using some appropriately defined description operator "K. " Similarly, descriptions of sets were seen to be useful. For example, the expression "at least 12 CS courses " might suggest the use of an expression like that in fig. 1. where the components grouped bv the left brace must be written once for each set of twelve CS courser. This is clearly a tiresome way to express the assertion, and furthermore, would require extensive modification after any new CS course was created (e.g., by adding an assertion like "CScourse(CSl23)"). We would prefer something like where "K " is another appropriate description forming operator. Similar motivations have given rise to the following description forms in DLOG. Definite individuals. DLOG's definite individual provides a shorthand syntax for referring to a unique individual whose name is unknown. Intuitively, the variable binding symbol V can be read Minimize

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The Pennsylvania State University CiteSeerX Archives

Year of Publication:

2008-07-01

Source:

http://dli.iiit.ac.in/ijcai/IJCAI-85-VOL2/PDF/004.pdf

http://dli.iiit.ac.in/ijcai/IJCAI-85-VOL2/PDF/004.pdf Minimize

Document Type:

text

Language:

en

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Metadata may be used without restrictions as long as the oai identifier remains attached to it.

Metadata may be used without restrictions as long as the oai identifier remains attached to it. Minimize

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Title:

EVALUATION DU STOCKAGE AU FROID DES OEUFS D'EPHESTIA KÜEHNIELLA ZELLER (LEPIDOPTERA : PYRALIDAE) POUR LE PARASITISME PAR TRICHOGRAMMA CHILONIS ISHII (HYMENOPTERA : TRICHOGRAMMATIDAE)

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Unpublished

Year of Publication:

2008

Document Type:

Text ; Conference Paper

Language:

fr

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Title:

Information-Based Argumentation

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Information-based argumentation aims to model the partnera??s reasoning apparatus to the extent that an agent can work with it to achieve outcomes that are mutually satisfactory and lay the foundation for continued interaction and perhaps lasting business relationships. Information-based agents take observations at face value, qualify them with ...

Information-based argumentation aims to model the partnera??s reasoning apparatus to the extent that an agent can work with it to achieve outcomes that are mutually satisfactory and lay the foundation for continued interaction and perhaps lasting business relationships. Information-based agents take observations at face value, qualify them with a belief probability and build models solely on the basis of messages received. Using augmentative dialogue that describes what is good or bad about proposals, these agents observe such statements and aim to model the way their partners react, and then to generate dialogue that works in harmony with their partnera??s reasoning. Minimize

Publisher:

Springer

Contributors:

R. Goebel, J. Siekmann, andW.Wahlster

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The original publication is available at www.springerlink.com

The original publication is available at www.springerlink.com Minimize

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Accepted manuscript version ; http://dx.doi.org/10.1007/978-3-642-05301-6_9

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Title:

Implicit Liquidity Premiums in the Disposition of RTC Assets

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The Resolution Trust Corporation (RTC) was created by congressional legislation passed in 1989, and was charged with, among other things, the orderly disposition of other real estate owned (OREO) property. Questions have been raised about how efficient and effective the RTC has been in achieved its congressional mandate. One of the issues result...

The Resolution Trust Corporation (RTC) was created by congressional legislation passed in 1989, and was charged with, among other things, the orderly disposition of other real estate owned (OREO) property. Questions have been raised about how efficient and effective the RTC has been in achieved its congressional mandate. One of the issues resulting from the efficiency question involves the amount of discount the RTC realizes for a quick disposition of the property. This study utilizes data provided by the RTC concerning its sales to analyze the implicit liquidity premium resulting from disposing of OREO. The results of the study indicate what variables contribute to liquidity premiums. This paper's importance relies most heavily on the finding that realistic market adjustments in regulation, over time, helped to achieve a higher degree of liquidity for RTC real estate property sales. The findings of this paper confirm the legislative intent of FIRREA, which is to ensure that real estate properties acquired by the government are disposed of at the highest dollar value possible. Minimize

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article

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Title:

QUASICONVEX FUNCTIONS AND NONLINEAR PDES

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Abstract. A second order characterization of functions which have convex level sets (quasiconvex functions) results in the operator L0(Du, D 2 u) = min{v · D 2 uv T ||v | =1, |v · Du | =0}. Intwodimensionsthisisthemeancurvature operator, and in any dimension L0(Du, D 2 u)/|Du | is the first principal curvature of the surface S = u −1 (c). Our ma...

Abstract. A second order characterization of functions which have convex level sets (quasiconvex functions) results in the operator L0(Du, D 2 u) = min{v · D 2 uv T ||v | =1, |v · Du | =0}. Intwodimensionsthisisthemeancurvature operator, and in any dimension L0(Du, D 2 u)/|Du | is the first principal curvature of the surface S = u −1 (c). Our main results include a comparison principle for L0(Du, D 2 u)=g when g ≥ Cg> 0 and a comparison principle for quasiconvex solutions of L0(Du, D 2 u)=0. A more regular version of L0 is introduced, namely Lα(Du, D 2 u)=min{v · D 2 uv T ||v | =1, |v · Du | ≤α}, which characterizes functions which remain quasiconvex under small linear perturbations. A comparison principle is proved for Lα. A representation result using stochastic control is also given, and we consider the obstacle problems for L0 and Lα. Minimize

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The Pennsylvania State University CiteSeerX Archives

Year of Publication:

2013-09-24

Source:

http://www.ams.org/journals/tran/2013-365-08/S0002-9947-2013-05760-1/S0002-9947-2013-05760-1.pdf

http://www.ams.org/journals/tran/2013-365-08/S0002-9947-2013-05760-1/S0002-9947-2013-05760-1.pdf Minimize

Document Type:

text

Language:

en

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Metadata may be used without restrictions as long as the oai identifier remains attached to it.

Metadata may be used without restrictions as long as the oai identifier remains attached to it. Minimize

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Title:

1 LINEAR-CONVEX CONTROL AND DUALITY

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An optimal control problem with linear dynamics and convex but not necessarily quadratic and possibly infinite-valued or nonsmooth costs can be analyzed in an appropriately formulated duality framework. The paper presents key elements of such a framework, including a construction of a dual optimal control problem, optimality conditions in open l...

An optimal control problem with linear dynamics and convex but not necessarily quadratic and possibly infinite-valued or nonsmooth costs can be analyzed in an appropriately formulated duality framework. The paper presents key elements of such a framework, including a construction of a dual optimal control problem, optimality conditions in open loop and feedback forms, and a relationship between primal and dual optimal values. Some results on differentiability and local Lipschitz continuity of the gradient of the optimal value function associated with a convex optimal control problem are included. Minimize

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The Pennsylvania State University CiteSeerX Archives

Year of Publication:

2010-04-21

Source:

http://www.math.washington.edu/~rtr/papers/rtr-LinearConvexControl.pdf

http://www.math.washington.edu/~rtr/papers/rtr-LinearConvexControl.pdf Minimize

Document Type:

text

Language:

en

Subjects:

Optimal control ; generalized problem of Bolza ; convex value function

Optimal control ; generalized problem of Bolza ; convex value function Minimize

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Metadata may be used without restrictions as long as the oai identifier remains attached to it.

Metadata may be used without restrictions as long as the oai identifier remains attached to it. Minimize

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Title:

Local strong convexity and local Lipschitz continuity of the gradient of convex functions

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Abstract. Given a pair of convex conjugate functions f and f ∗ , we investigate the relationship between local Lipschitz continuity of ∇f and local strong convexity properties of f ∗.

Abstract. Given a pair of convex conjugate functions f and f ∗ , we investigate the relationship between local Lipschitz continuity of ∇f and local strong convexity properties of f ∗. Minimize

Contributors:

The Pennsylvania State University CiteSeerX Archives

Year of Publication:

2013-07-20

Source:

http://www.math.washington.edu/~rtr/papers/rtr-LocalPropsConvexFns.pdf

http://www.math.washington.edu/~rtr/papers/rtr-LocalPropsConvexFns.pdf Minimize

Document Type:

text

Language:

en

Subjects:

Fenchel conjugate ; differentiability ; Lipschitz continuity ; local

Fenchel conjugate ; differentiability ; Lipschitz continuity ; local Minimize

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Metadata may be used without restrictions as long as the oai identifier remains attached to it.

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