Arbitrage, Incomplete Models, and Other People’s Brains

Author(s):  
Robert Nau
Keyword(s):  
Econometrica ◽  
2016 ◽  
Vol 84 (5) ◽  
pp. 1799-1838 ◽  
Author(s):  
Larry G. Epstein ◽  
Hiroaki Kaido ◽  
Kyoungwon Seo

2018 ◽  
Vol 55 (3) ◽  
pp. 810-822
Author(s):  
Oleksii Mostovyi

Abstract We consider the problem of optimal consumption of multiple goods in incomplete semimartingale markets. We formulate the dual problem and identify conditions that allow for the existence and uniqueness of the solution, and provide a characterization of the optimal consumption strategy in terms of the dual optimizer. We illustrate our results with examples in both complete and incomplete models. In particular, we construct closed-form solutions in some incomplete models.


1993 ◽  
Vol 115 (4) ◽  
pp. 723-725 ◽  
Author(s):  
Sunil K. Agrawal

Often, the dynamic behavior of multi-degree-of-freedom mechanical systems such as robots and manipulators is studied by computer simulation. An important step in this simulation is the inversion of inertia matrix of the system. In singular configurations of the inertia matrix, the simulation is prone to large numerical errors. Usually, it is believed that an inertia matrix is always positive definite. In this paper, it is shown that for spatial series-chain manipulators, when the links are modeled as point masses, a multitude of configurations exists when the inertia matrix becomes singular. These singularities arise because point masses lead to incomplete models of the system.


Author(s):  
Alfred Galichon ◽  
Marc Henry
Keyword(s):  

2017 ◽  
Vol 23 (2) ◽  
pp. 687-713 ◽  
Author(s):  
Oszkár Semeráth ◽  
Dániel Varró

In modern modeling tools used for model-driven development, the validation of several well-formedness constraints is continuously been carried out by exploiting advanced graph query engines to highlight conceptual design aws. However, while models are still under development, they are frequently par- tial and incomplete. Validating constraints on incomplete, partial models may identify a large number of irrelevant problems. By switching o the val- idation of these constraints, one may fail to reveal problematic cases which are dicult to correct when the model becomes suciently detailed. Here, we propose a novel validation technique for evaluating well-formed- ness constraints on incomplete, partial models with may and must semantics, e.g. a constraint without a valid match is satisable if there is a completion of the partial model that may satisfy it. To this end, we map the problem of constraint evaluation over partial models into regular graph pattern matching over complete models by semantically equivalent rewrites of graph queries.


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