scholarly journals A transient Cramér–Lundberg model with applications to credit risk

2021 ◽  
Vol 58 (3) ◽  
pp. 721-745
Author(s):  
Guusje Delsing ◽  
Michel Mandjes
Keyword(s):  
Brownian Motion ◽  
Asymptotic Analysis ◽  
Finite Number ◽  
Regime Switching ◽  
Ruin Probability ◽  
Simulation Approach ◽  
Multiple Dimensions ◽  
Multiple Groups ◽  
Set Up ◽  
The Individual

AbstractThis paper considers a variant of the classical Cramér–Lundberg model that is particularly appropriate in the credit context, with the distinguishing feature that it corresponds to a finite number of obligors. The focus is on computing the ruin probability, i.e. the probability that the initial reserve, increased by the interest received from the obligors and decreased by the losses due to defaults, drops below zero. As well as an exact analysis (in terms of transforms) of this ruin probability, an asymptotic analysis is performed, including an efficient importance-sampling-based simulation approach.The base model is extended in multiple dimensions: (i) we consider a model in which there may, in addition, be losses that do not correspond to defaults, (ii) then we analyze a model in which the individual obligors are coupled via a regime switching mechanism, (iii) then we extend the model so that between the losses the reserve process behaves as a Brownian motion rather than a deterministic drift, and (iv) we finally consider a set-up with multiple groups of statistically identical obligors.

Patient Scheduling — (Bibliography)

1977 ◽  
Vol 16 (02) ◽  
pp. 112-115 ◽  
Author(s):  
C. O. Köhler ◽  
G. Wagner ◽  
U. Wolber
Keyword(s):  
Information Processing ◽  
Medical Care ◽  
Medical Informatics ◽  
Relevant Literature ◽  
Patient Scheduling ◽  
Individual Scientist ◽  
Set Up ◽  
The Individual ◽  
New Literature ◽  
Current Systems

The entire field of information processing in medicine is today already spread out and branched to such an extent that it is no longer possible to set up a survey on relevant literature as a whole. But even in narrow parts of medical informatics it is hardly possible for the individual scientist to keep up to date with new literature. Strictly defined special bibliographies on certain topics are most helpful.In our days, problems of optimal patient scheduling and exploitation of resources are gaining more and more importance. Scientists are working on the solution of these problems in many places.The bibliography on »Patient Scheduling« presented here contains but a few basic theoretical papers on the problem of waiting queues which are of importance in the area of medical care. Most of the papers cited are concerned with practical approaches to a solution and describe current systems in medicine.In listing the literature, we were assisted by Mrs. Wieland, Mr. Dusberger and Mr. Henn, in data acquisition and computer handling by Mrs. Gieß and Mr. Schlaefer. We wish to thank all those mentioned for their assistance.

scholarly journals Nudge Versus Boost: Agency Dynamics Under Libertarian Paternalism

2019 ◽  
Vol 130 (629) ◽  
pp. 1384-1415 ◽  
Author(s):  
Ralph Hertwig ◽  
Michael D Ryall
Keyword(s):  
Cognitive Biases ◽  
Policy Implications ◽  
Best Interests ◽  
Libertarian Paternalism ◽  
The Future ◽  
Set Up ◽  
The Individual

ABSTRACT Thaler and Sunstein (2008) advance the concept of ‘nudge’ policies—non-regulatory and non-fiscal mechanisms designed to enlist people's cognitive biases or motivational deficits so as to guide their behaviour in a desired direction. A core assumption of this approach is that policymakers make artful use of people's cognitive biases and motivational deficits in ways that serve the ultimate interests of the nudged individual. We analyse a model of dynamic policymaking in which the policymaker's preferences are not always aligned with those of the individual. One novelty of our set-up is that the policymaker has the option to implement a ‘boost’ policy, equipping the individual with the competence to overcome the nudge-enabling bias once and for all. Our main result identifies conditions under which the policymaker chooses not to boost in order to preserve the option of using the nudge (and its associated bias) in the future—even though boosting is in the immediate best interests of both the policymaker and the individual. We extend our analysis to situations in which the policymaker can be removed (e.g., through an election) and in which the policymaker is similarly prone to bias. We conclude with a discussion of some policy implications of these findings.

scholarly journals Theorizing Teacher Responsibility in an Age of Neoliberal Accountability

2019 ◽  
Vol 1 (1) ◽  
pp. 179-195 ◽  
Author(s):  
Tina Besley
Keyword(s):  
Homo Economicus ◽  
Teacher Responsibility ◽  
Keynesian Economics ◽  
The Great Depression ◽  
Market Rationality ◽  
The Subject ◽  
Neoliberal Policies ◽  
Set Up ◽  
The Individual ◽  
The Welfare State

This article explores concepts of teacher responsibility, accountability, being in loco parentis, and responsibilization as many advanced capitalist societies have dropped policies and practices that were set up in the mid 19th century after the Great Depression in the welfare state under Keynesian economics. Since the early 1980s most of these states have adopted neoliberal policies and market rationality for all aspects of social policy including education. Under neoliberalism, the subject theorised by Homo economicus, is one that is theorised as a rational autonomous individual, with its responsibilized behavior underpinning much of how not only teachers but students now are compleed to behace and perform. These have resulted in major shifts in attitudes to professionalism of teachers, in responsibilising individuals and so have impacted on subjectivity as the state has pulled back from all manner of social provision and has responsibilized the individual to be a consumer-citizen, a prudential and entrepreneurial self even in terms of education. The upshot is increasing use of audits, checklists and accountability regimes for teachers who are becoming increasingly a de-professionalised in a low-trust managerialist environment with students as consumers.

scholarly journals Two Phase Separation using Liquid Level Control System using PLC and SCADA

2019 ◽  
Vol 9 (2) ◽  
pp. 2389-2391
Keyword(s):  
Supervisory Control ◽  
Programmable Logic ◽  
Level Control ◽  
Fluid Level ◽  
Two Phase ◽  
Two Fluids ◽  
Control Framework ◽  
Set Up ◽  
The Individual ◽  
Fluid Levels

Activity of the plant requires a great deal of work and human asset and requires a ton of diligent work and persistence as the individual needs to take note of every single an incentive at various occasions by taking readings physically. With the advancement of Industrial Automation, fluid level control framework has been generally utilized in different fields. In this paper, in light of PLC a control framework is set up by PID calculation and this control framework can alter two diverse fluid levels consequently. On the off chance that there are two distinct kinds of fluids with various densities in an equivalent tank and so as to isolate those two fluids, Level control framework dependent on SCADA and PLC is actualized. This framework satisfies splendidly the need of various fluid level control framework in industry, and it brings advantageous and exact for controlling. The proposed framework gives the fluid Level control, with the assistance of Programmable Logic Controllesr (PLCs), and Supervisory Control and Data Acquisition (SCADA).

scholarly journals How to Implement Safe, Efficient and Cost-Effective SARS-CoV-2 Testing in Urban and Rural Schools within One Month

COVID ◽  
2021 ◽  
Vol 1 (4) ◽  
pp. 717-727
Author(s):  
Parastoo Kheiroddin ◽  
Magdalena Gründl ◽  
Michael Althammer ◽  
Patricia Schöberl ◽  
Linda Plail ◽  
...  
Keyword(s):  
Data Transfer ◽  
Cost Effective ◽  
Testing System ◽  
Successful Implementation ◽  
Rural And Urban ◽  
Local Involvement ◽  
Working Day ◽  
Set Up ◽  
The Individual ◽  
Time Required

(1) Background: With vaccination and new variants of SARS-CoV-2 on the horizon, efficient testing in schools may enable prevention of mass infection outbreaks, keeping schools safe places and buying time until decisions on feasibility and the necessity of vaccination in children and youth are made. We established, in the course of the WICOVIR (Where Is the COrona VIRus) study, that gargle-based pool-PCR testing offers a feasible, efficient, and safe testing system for schools in Germany when applied by central university laboratories. (2) Objectives: We evaluated whether this approach can be implemented in different rural and urban settings. (3) Methods: We assessed the arrangements required for successful implementation of the WICOVIR approach in a variety of settings in terms of transport logistics, data transfer and pre-existing laboratory set-up, as well as the time required to establish the set-up. (4) Results: We found that once regulatory issues have been overcome, all challenges pertaining to logistics, data transfer, and laboratory testing on different platforms can be solved within one month. Pooling and depooling of samples down to the individual test result were achievable within one working day in all settings. Local involvement of the community and decentralized set-ups were keys for success. (5) Conclusion: The WICOVIR gargle-based pool-PCR system is so robust and simple that it can be implemented within one month in all settings now or in future pandemics.

scholarly journals FDI in Multi-brand Retailing in India: Comparative study with China

2013 ◽  
Vol 3 (1) ◽  
pp. 54-61 ◽  
Author(s):  
Dr. Anuradha Jain
Keyword(s):  
Growth Potential ◽  
Retail Sector ◽  
Individual Consumer ◽  
Whole Process ◽  
Chinese Model ◽  
Personal Consumption ◽  
Recent Developments ◽  
The Government ◽  
Set Up ◽  
The Individual

Retailing is the interface between the producer and the individual consumer buying for personal consumption. As such, retailing is the last link that connects the individual consumer with the manufacturing and distribution chain. Indian retail industry is one of the sunrise sectors with huge growth potential. However, in spite of the recent developments in retailing and its immense contribution to the economy, retailing continues to be the least evolved industries and the growth of organised retailing in India has been much slower as compared to rest of the world. This paper captures the existing retail scenario in India with regard to organized and un-organized retail and presents the limitations of the current set-up along with the experiences of domestic players. The paper discusses about opening up of the multibrand retail sector to foreign direct investment by the government. The rationale for retail reforms and challenges to be addressed by the retail sector are discussed. FDI in Retail is like an allopathic medicine It would deliver quick results & would not work as hit & trial like Homeopath. Government must go for Policy Mix to avoid its side effects. It will require various changes in internal policies also. The whole process must be made socially & economically useful.It will be better to follow the Chinese model of caution and hurrying slowly. China took over 12years to liberalise its FDI regime and in stages with reversals as well. The Chinese retail environment is 20years ahead of us. Looking at their market today can give us a rough idea of how FDI in multi brand retail in India might pan out in the medium term and long term period.

Strategic Behavior and Optimization in an Unobservable Constant Retrial Queue with Balking and Set-Up Time

2020 ◽  
Vol 8 (3) ◽  
pp. 273-290
Author(s):  
Linlin Wang ◽  
Liwei Liu ◽  
Zhen Wang ◽  
Xudong Chai
Keyword(s):  
Strategic Behavior ◽  
Optimization Problems ◽  
Retrial Queue ◽  
Pso Algorithm ◽  
Operating Costs ◽  
Welfare Maximization ◽  
Social Welfare Maximization ◽  
Set Up ◽  
The Individual ◽  
Steady State Solutions

AbstractAn M/M/1 constant retrial queue with balking customers and set-up time is considered. Once the system becomes empty, the server will be turned down to reduce operating costs, and it will be activated only when there is a customers arrives. In this paper, the almost unobservable case is studied, in which the information of the queue length is unavailable, whereas the state of the server can be obtained. Firstly, the steady state solutions are derived and the individual equilibrium strategies are analyzed. In addition, social optimization problems, including cost analysis and social welfare maximization are investigated by using the PSO algorithm. Finally, by appropriate numerical examples, the sensitivity of some main system parameters is shown.

Virtual Reality and Identity Crisis—

2011 ◽  
pp. 202-218
Author(s):  
Archana Tyagi
Keyword(s):  
Virtual Reality ◽  
Virtual World ◽  
Identity Management ◽  
Identity Crisis ◽  
Young Generation ◽  
Identity Statuses ◽  
The Social ◽  
Positive Meaning ◽  
Set Up ◽  
The Individual

Identity has become one of the single most important issues for human development and adjustment in today’s turbulent times. Virtual world is changing the interface of identification and communication. Virtual reality has recently emerged as an effective tool to extend a healing space for an alternative identity. The focus of this chapter is on the challenges faced by the young generation, which is struggling to understand its “identity.” The exploration of identity in such virtual environments may be a search for a ‘unitary’ construct about the self (Erikson, 1968). In this paper, the concept of “identity” and “identity crisis” and the potential challenges identified in the real and virtual world are discussed at length. In today’s world people are pulled in different directions, thanks to the different kinds of societal demands from family, friends and society. It becomes difficult to find a uniqueness of one’s self and yet able to fulfill the norms and parameters set up by the society. Respect for diversity of self would go a long way in allowing people to be “uniquely themselves” while belonging to a community. Healthy “crisis” or exploration can afford people the opportunity to knowledgeably investigate choices in which there is positive meaning with regard to where they have come from, where they presently exist, and where they envision their future to be (International Encyclopaedia of the Social Sciences, 2008). An attempt to explore the identity management and identity statuses has also been made to understand “real” and “virtual reality.” Identity crisis and psychosocial moratorium’s linkage (Erikson, 1963) to virtual reality have also been touched upon. An understanding of organizational identity with the individual identity.

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