Simulation of Market Price Formation as a Game Between Stochastic Automata

1976 ◽  
Vol 98 (1) ◽  
pp. 91-100 ◽  
Author(s):  
Y. M. El-Fattah ◽  
R. Henriksen
Keyword(s):  
Conditional Probability ◽  
A Priori ◽  
Market Price ◽  
Competitive Market ◽  
Price Formation ◽  
Market Conditions ◽  
Reinforcement Scheme ◽  
Stochastic Automata ◽  
Lack Of Information ◽  
Simulation Results

A seller in a free competitive market attempts to optimize his profit by manipulating the price of his commodity. A seller does not know a priori the market conditions such as the conditional probability of the buyers demand, the criteria or even the number of his seller opponents. Subject to this lack of information, the process of market price formation can be simulated as a game between stochastic automata. As time unfolds each seller-automaton learns the market conditions and changes accordingly its price probabilities in view of maximizing its profit. A simple reinforcement scheme is introduced for the design of such automata. The simulation results demonstrate the expediency of the automata behavior.

scholarly journals Technology of Quick-Frozen Flour Fish Culinary Products

2022 ◽  
Author(s):  
Valentina Pavlova ◽  
Irina Saenkova ◽  
Yulia Shokina ◽  
Grigoriy Shokin
Keyword(s):  
Mass Fraction ◽  
High Efficiency ◽  
A Priori ◽  
Cholesterol Content ◽  
Organoleptic Evaluation ◽  
Amine Nitrogen ◽  
Long Term Storage ◽  
Functional Product ◽  
Simulation Results ◽  
Priori Information

In this article, the results of the development of the functional fish culinary product “Thorny Skate and Cod Pie” are presented. A traditional recipe was used for making the yeast dough for the pie. The pie filling recipe was designed using Fuzzy Logic in the Matlab software package.Optimized parametersfor the selected sensory evaluation of the pie were calculated. On the basis of a priori information, key components of the filling (including the fraction of the fish components and skate meat) were chosen as the factors of interest. According to the simulation results, the optimal values werea 50/50 percentage for the first and the second factor respectively, and this providedthe maximum organoleptic assessment (five points on a five-point scale). The simulation results were compared with the results of the organoleptic evaluation of the pie made according to the optimized recipe, and their sufficient convergence was shown. The indicators of mass fraction of amine nitrogen and nitrogen of volatile bases was studied, as well as the microbiological safety indicators of flour fish culinary products, in accordance with the requirements of the Technical Regulations of the Eurasian Economic Union 040/2016 ”On the safety of fish products”. The results showed a high efficiency of the shock freezing of the semi-finished product, brought to semi-readiness, for long-term storage (120 days at a temperature no higher than minus 18 ∘C), without reducing the quality or safety of the pie. The product had a cholesterol content from 220 to 260 mg%, which allowed it to be classified as functional. The nutritional values of the product (mass fraction of protein, fat, carbohydrates, and amino acid composition) are presented. Keywords: thornyskate, functional product, pie with thornyskate and cod, shock freezing

Efficient Reliability Assessment With the Conditional Probability Method

2018 ◽  
Vol 140 (8) ◽  
Author(s):  
Rami Mansour ◽  
Mårten Olsson
Keyword(s):  
Conditional Probability ◽  
Structural Reliability ◽  
A Priori ◽  
Reliability Assessment ◽  
Probability Of Failure ◽  
Assessment Method ◽  
Probability Method ◽  
Probability Of Survival ◽  
Design Variables ◽  
Reliability Method

Reliability assessment is an important procedure in engineering design in which the probability of failure or equivalently the probability of survival is computed based on appropriate design criteria and model behavior. In this paper, a new approximate and efficient reliability assessment method is proposed: the conditional probability method (CPM). Focus is set on computational efficiency and the proposed method is applied to classical load-strength structural reliability problems. The core of the approach is in the computation of the probability of failure starting from the conditional probability of failure given the load. The number of function evaluations to compute the probability of failure is a priori known to be 3n + 2 in CPM, where n is the number of stochastic design variables excluding the strength. The necessary number of function evaluations for the reliability assessment, which may correspond to expensive computations, is therefore substantially lower in CPM than in the existing structural reliability methods such as the widely used first-order reliability method (FORM).

scholarly journals Interventions Aiming to Promote Active Commuting in Children and Adolescents: An Evaluation From a Sex/Gender Perspective

2020 ◽  
Vol 2 ◽  
Author(s):  
Isabel Marzi ◽  
Sandra Emmerling ◽  
Yolanda Demetriou ◽  
Jens Bucksch ◽  
Carolin Schulze ◽  
...  
Keyword(s):  
Children And Adolescents ◽  
A Priori ◽  
Active Commuting ◽  
Future Health ◽  
Intervention Effects ◽  
Eligibility Criteria ◽  
Single Sex ◽  
Lack Of Information ◽  
Intervention Content ◽  
Gender Specific

Active commuting (AC) provides numerous health benefits and is one way to improve physical activity in children and adolescents. Boys are more likely to use active transport modes than girls. Girls and boys benefit differently from interventions that promote AC. The aim of this systematic review is to evaluate the effects of interventions on girls and boys and to appraise the extent to which previous studies have taken sex/gender into account. Eleven electronic databases were searched to identify all relevant randomized and non-randomized controlled trials based on a priori defined eligibility criteria. Two independent reviewers screened the literature for eligibility and assessed risk of bias. Semiquantitative analyses were conducted to evaluate the effects of intervention effects by taking sex/gender aspects into account. To evaluate sex/gender considerations in interventional studies, a recently developed sex/gender checklist was applied. Twelve studies were included that examined intervention effects on AC in girls and boys. Three intervention studies showed significant effects in increasing AC, with one study favoring girls, one favoring boys, and another focusing on a single sex/gender (only girls). According to the checklist, the overall sex/gender rating highlighted a lack of information in sex/gender consideration. Studies with and without significant effects indicated no differences in the sex/gender checklist. The results indicate that sex/gender is not considered adequately in primary interventional research on AC. To evaluate the effectiveness of intervention in boys and girls, detailed analyses of sex/gender are required, and better reporting about sex/gender-specific intervention content is necessary. In future health research to promote AC, sex/gender should be systematically taken into account.

A Neural Root Finder of Polynomials Based on Root Moments

2004 ◽  
Vol 16 (8) ◽  
pp. 1721-1762 ◽  
Author(s):  
De-Shuang Huang ◽  
Horace H.S. Ip ◽  
Zheru Chi
Keyword(s):  
Learning Algorithm ◽  
A Priori ◽  
Feedforward Neural Networks ◽  
A Priori Information ◽  
Backpropagation Algorithm ◽  
Constrained Learning ◽  
Roots Of Polynomials ◽  
Simulation Results ◽  
Priori Information ◽  
Coefficient Method

This letter proposes a novel neural root finder based on the root moment method (RMM) to find the arbitrary roots (including complex ones) of arbitrary polynomials. This neural root finder (NRF) was designed based on feedforward neural networks (FNN) and trained with a constrained learning algorithm (CLA). Specifically, we have incorporated the a priori information about the root moments of polynomials into the conventional backpropagation algorithm (BPA), to construct a new CLA. The resulting NRF is shown to be able to rapidly estimate the distributions of roots of polynomials. We study and compare the advantage of the RMM-based NRF over the previous root coefficient method—based NRF and the traditional Muller and Laguerre methods as well as the mathematica roots function, and the behaviors, the accuracies of the resulting root finders, and their training speeds of two specific structures corresponding to this FNN root finder: the log σand the σ FNN. We also analyze the effects of the three controlling parameters {δP0 θp η} with the CLA on the two NRFs theoretically and experimentally. Finally, we present computer simulation results to support our claims.

scholarly journals DOA Estimation without Source Number for Cyber-Physical Interactions

Complexity ◽  
2020 ◽  
Vol 2020 ◽  
pp. 1-5
Author(s):  
Jianzhong Li ◽  
Xiaobo Gu ◽  
Ruidian Zhan ◽  
Xiaoming Xiong ◽  
Yuan Liu
Keyword(s):  
A Priori ◽  
Doa Estimation ◽  
A Priori Knowledge ◽  
Second Order Statistics ◽  
Oblique Projector ◽  
Physical Interactions ◽  
Simulation Results ◽  
The Impact ◽  
The Relationship ◽  
Source Number

In this paper, a direction of arrival (DOA) estimator is proposed to improve the cyber-physical interactions, which is based on the second-order statistics without a priori knowledge of the source number. The impact of noise will firstly be eliminated. Then the relationship between the processed covariance matrix and the steering matrix is studied. By applying the elementary column transformation, an oblique projector will be designed without the source number. At last, a rooting method will be adopted to estimate the DOAs with the constructed projector. Simulation results show that the proposed method performs as well as other methods, which requires that the source number must be known.

Monopoly and Market Irregularities in Medieval Economic Thought: Traditions and Texts to A.D. 1500

2006 ◽  
Vol 28 (4) ◽  
pp. 395-411 ◽  
Author(s):  
Odd Langholm
Keyword(s):  
Price Discrimination ◽  
Market Price ◽  
Economic Thought ◽  
Competitive Market ◽  
Poor Relief ◽  
Ethical Norm ◽  
Government Grants ◽  
Just Price ◽  
Commutative Justice ◽  
Cost Factors

In a study of pre-classical monopoly theory published in 1951, Raymond de Roo ver started by briefly examining the doctrines held by the medieval scholastics. His analysis met with favorable response and was confirmed and further developed by later historians. The most satisfactory statement may still be that of Barry Gordon in his monograph on early economics. The consensus of these scholars can be summarized as follows. Medieval authors looked askance at the attempts by the guilds to establish minimum prices. They recognized the expediency of government grants of monopoly and regulation of prices of certain commodities. They strongly condemned private monopolies established for personal gain, as well as collusion among sellers for that purpose, price discrimination, engrossing, forestalling, regrating, and other forms of speculation. The just price was the current, competitive market price, free of all irregularities of these kinds and free of fraud and duress. Gordon adds that the schoolmen also sometimes referred to labor and cost factors, rather than the market, as estimates of the just price. These estimates were not necessarily contradictive but mutually supportive. They applied when the market was not working smoothly and when there was no market in operation at the time and place of the sale. When an exchange is concluded in a competitive market under normal circumstances, the going price can hardly be said to be unjust. It may sometimes seem uncharitable. There will always be some who cannot afford to pay the competitive price. Poor relief in medieval society, however, was mainly a matter of almsgiving. Unlike commutative justice, charity is not a workable ethical norm in the marketplace.

scholarly journals A Note On Accounting For Employee Stock Options When Reporting Diluted Earnings Per Share Under The Treasury Stock Method

2011 ◽  
Vol 6 (10) ◽  
Author(s):  
David T. Doran
Keyword(s):  
Stock Options ◽  
A Priori ◽  
Market Price ◽  
Accounting Standards ◽  
Fair Value ◽  
Financial Accounting ◽  
Employee Stock Options ◽  
Financial Accounting Standards Board ◽  
Earnings Per Share ◽  
Free Environment

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">Firms must currently apply the fair value method in determining the amount of employee compensation incurred in the case of employee stock options.<span style="mso-spacerun: yes;">&nbsp; </span>Current GAAP also requires that for purposes of calculating diluted earnings per share (EPS), the treasury stock method be applied where the assumed proceeds from exercise of the optioned shares is used to purchase shares of the firm&rsquo;s stock at its average market price of the earnings period.<span style="mso-spacerun: yes;">&nbsp; </span>These incremental shares increase the denominator for purposes of calculating diluted EPS.<span style="mso-spacerun: yes;">&nbsp; </span>These requirements are consistent across the pronouncements of the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB).<span style="mso-spacerun: yes;">&nbsp; </span>This study extends the work of Doran (2005) and Doran (2008).<span style="mso-spacerun: yes;">&nbsp; </span>These previous studies found that applying the treasury stock method where shares are assumed purchased at the average for the period price (instead of end of year price) understates the number of incremental shares (the denominator), which overstates diluted EPS.<span style="mso-spacerun: yes;">&nbsp; </span>However, these previous works assumed that no shares were actually purchased for the treasury during the earnings period.<span style="mso-spacerun: yes;">&nbsp; </span>The FASB indicates one reason that the average for the period price is appropriate is because if treasury shares purchases were to occur, &ldquo;the shares would be purchased at various prices, not at the price at the end of the period.&rdquo;<span style="mso-spacerun: yes;">&nbsp; </span>This study tests the notion that the average for the period price is appropriate under circumstances where the firm actually purchases shares for the treasury at its average market price during the earnings period.<span style="mso-spacerun: yes;">&nbsp; </span>This paper employs a simple one period model that assumes a risk free environment with complete certainty.<span style="mso-spacerun: yes;">&nbsp; </span>The model allows comparison of computed EPS with an a priori known, correct amount.<span style="mso-spacerun: yes;">&nbsp; </span>Consistent with Doran (2005) and Doran (2008), the results here again indicate that assuming purchase of treasury shares at their average market price of the earnings period understates the EPS denominator which results in EPS overstatement. <span style="mso-spacerun: yes;">&nbsp;</span>Correct diluted EPS is derived when the shares assumed purchased under the treasury stock method are acquired at the higher period ending market price.<span style="mso-spacerun: yes;">&nbsp; </span></span></span></p>

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