A renewal theory approach to two-state switching problems with infinite values

2020 ◽  
Vol 57 (1) ◽  
pp. 1-18
Author(s):  
Erik Ekström ◽  
Marcus Olofsson ◽  
Martin Vannestål
Keyword(s):  
Dynamic Programming ◽  
Renewal Theory ◽  
Alternative Formulation ◽  
Theory Approach ◽  
Value Functions ◽  
Optimal Switching ◽  
Switching Theory ◽  
State Switching

AbstractWe study a renewal theory approach to perpetual two-state switching problems with infinite value functions. Since the corresponding value functions are infinite, the problems fall outside the standard class of problems which can be analyzed using dynamic programming. Instead, we propose an alternative formulation of optimal switching theory in which optimality of a strategy is defined in terms of its long-term mean return, which can be determined using renewal theory. The approach is illustrated by examples in connection with trend-following strategies in finance.

scholarly journals Connectionist Temporal Modeling of Video and Language: a Joint Model for Translation and Sign Labeling

2019 ◽  
Author(s):  
Dan Guo ◽  
Shengeng Tang ◽  
Meng Wang
Keyword(s):  
Dynamic Programming ◽  
Objective Function ◽  
Visual Representations ◽  
Sequential Learning ◽  
Short Term ◽  
Temporal Modeling ◽  
Temporal Correlations ◽  
Feature Correlation ◽  
3D Cnn

Online sign interpretation suffers from challenges presented by hybrid semantics learning among sequential variations of visual representations, sign linguistics, and textual grammars. This paper proposes a Connectionist Temporal Modeling (CTM) network for sentence translation and sign labeling. To acquire short-term temporal correlations, a Temporal Convolution Pyramid (TCP) module is performed on 2D CNN features to realize (2D+1D)=pseudo 3D' CNN features. CTM aligns the pseudo 3D' with the original 3D CNN clip features and fuses them. Next, we implement a connectionist decoding scheme for long-term sequential learning. Here, we embed dynamic programming into the decoding scheme, which learns temporal mapping among features, sign labels, and the generated sentence directly. The solution using dynamic programming to sign labeling is considered as pseudo labels. Finally, we utilize the pseudo supervision cues in an end-to-end framework. A joint objective function is designed to measure feature correlation, entropy regularization on sign labeling, and probability maximization on sentence decoding. The experimental results using the RWTH-PHOENIX-Weather and USTC-CSL datasets demonstrate the effectiveness of the proposed approach.

scholarly journals Enterprise Resilience Assessment—A Quantitative Approach

2019 ◽  
Vol 11 (16) ◽  
pp. 4327 ◽  
Author(s):  
Raquel Sanchis ◽  
Raúl Poler
Keyword(s):  
Dynamic Programming ◽  
Annual Cost ◽  
Quantitative Approach ◽  
Programming Approach ◽  
Dynamic Programming Approach ◽  
Preventive Actions ◽  
The Impact ◽  
Resilience Capacity ◽  
Resilience Assessment

Enterprise resilience is a key capacity to guarantee enterprises’ long-term continuity. This paper proposes a quantitative approach to enhance enterprise resilience by selecting optimal preventive actions to be activated to cushion the impact of disruptive events and to improve preparedness capability, one of the pillars of the enterprise resilience capacity. The proposed algorithms combine the dynamic programming approach with attenuation formulas to model real improvements when a combined set of preventive actions is activated for the same disruptive event. A numerical example is presented that shows remarkable reductions in the expected annual cost due to potential disruptive events.

Unit Manager's Role with Family Members of Clients in Complex Continuing Care Settings: An Untold Story

2005 ◽  
Vol 24 (2) ◽  
pp. 127-137
Author(s):  
Sepali Guruge ◽  
Katherine McGilton ◽  
Linda Yetman ◽  
Heather Campbell ◽  
Ruby Librado ◽  
...  
Keyword(s):  
Family Relationships ◽  
Family Members ◽  
Future Research ◽  
Continuing Care ◽  
Theory Approach ◽  
Term Care ◽  
Factors Affecting ◽  
Closing The Loop

ABSTRACTMost literature on staff-family relationships has come from studies of long-term care settings, has focused mainly on the families' perspectives on factors affecting their relationships with staff, and has included scant findings from the staff's perspective. No studies that examined staff-family relationships in complex continuing care (CCC) environments from the perspective of staff were found in the literature. A qualitative study that draws on a grounded theory approach was conducted to explore staff-family relationships in CCC, and the findings presented in this article illuminate the unit manager's role. Data were collected through in-depth interviews with nine unit managers and a follow-up focus group with five unit managers who work in three CCC facilities. Three categories reflecting the unit manager's role with family members of clients in CCC settings were derived: establishing supportive entry; building and preserving relationships; and closing the loop. Implications of the findings for practice and future research are presented.

scholarly journals An Islamic monetary theory of value and equation of exchange: evidence from Egypt (696-1517)

Humanomics ◽  
2016 ◽  
Vol 32 (2) ◽  
pp. 121-150 ◽  
Author(s):  
Adam Abdullah
Keyword(s):  
Empirical Investigation ◽  
Commodity Prices ◽  
Secondary Data ◽  
Price Stability ◽  
Monetary Theory ◽  
Value Functions ◽  
Content Type ◽  
Theory Of Value ◽  
Value Of Money

Purpose The purpose of this research is to present an Islamic monetary theory of value by analyzing real prices and real money in terms of gold and silver in Egypt from 696 to 1517, a period of 821 years from the Umayyads to the Abbasids. Design/methodology/approach This paper adopts a quantitative empirical investigation derived from a full population of secondary data to deductively evaluate the measure and store of value functions of money, to affirm an Islamic monetary theory of value, which is also inductively researched through a qualitative interpretation of documentary and content analysis of Islamic and numismatic literature. Findings The Islamic monetary theory of value leads to an Islamic equation of exchange that reconfirms the outcome of this research, where a high value of money ensures low constant real prices over the long term. Research limitations/implications The findings are based on an empirical investigation involving a single price of wheat series as a reasonable proxy for changes in wholesale commodity prices generally, which was successfully adopted by other studies. Practical implications The significance for modern monetary policy is that monetary authorities should adopt an Islamic monetary theory of value to achieve genuine monetary and price stability. Social implications Through an Islamic equation of exchange, price stability would ensure real economic growth that protects wealth for holders of money due to a stable purchasing power, and combined with Islamic equity finance, more efficiency in allocating investible resources to increase gross domestic product and employment. Originality/value The Islamic monetary theory of value ensures that there is no transfer or confiscation of wealth through inflation, which would impart gains to the issuer due to the excessive supply of money in relation to demand.

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