Refining Tournament Solutions via Margin of Victory

Tournament solutions are frequently used to select winners from a set of alternatives based on pairwise comparisons between alternatives. Prior work has shown that several common tournament solutions tend to select large winner sets and therefore have low discriminative power. In this paper, we propose a general framework for refining tournament solutions. In order to distinguish between winning alternatives, and also between non-winning ones, we introduce the notion of margin of victory (MoV) for tournament solutions. MoV is a robustness measure for individual alternatives: For winners, the MoV captures the distance from dropping out of the winner set, and for non-winners, the distance from entering the set. In each case, distance is measured in terms of which pairwise comparisons would have to be reversed in order to achieve the desired outcome. For common tournament solutions, including the top cycle, the uncovered set, and the Banks set, we determine the complexity of computing the MoV and provide worst-case bounds on the MoV for both winners and non-winners. Our results can also be viewed from the perspective of bribery and manipulation.

The Impact of Digital Transformation on Banking

In this paper, we discuss in more detail the context of Tunisian banks, with a focus on digital transformation strategies considered, the mission that preceded this study and the methodology and approach. Secondly, we will analyze the results of the study to reconstruct the features of the digital transformation of movement in Tunisian banks.The study of the digital transformation of Tunisian banks is carried on the board Matine Consulting firm. This study is launched in the continuity of the inaugural training program certifying on the topic of FinTechs and digital transformation of banks, set up by Matine in collaboration with the Academy of Banking and Finance (ABF).

9 China

This chapter examines the applicability of the law of set-off in China in cases involving solvent parties and against a party subject to a bankruptcy proceeding. It first explains statutory set-off under the Chinese Contract Law and contractual set-off between solvent parties before discussing set-off against insolvent parties, focusing on the relevant provisions of the Bankruptcy Law and requirements for insolvency set-off. It also considers the procedures for exercising the right to insolvency set-off, set-off right in the context of close-out netting in cross-border over-the-counter (OTC) derivatives transactions, restrictions on unfair preference for creditors and set-off, restrictions on banks' set-off rights against deposits, and set-off vis-a-vis clearing houses. The chapter concludes with an analysis of cross-border issues arising in set-off between solvent parties and against insolvent parties.

Stochastic Boundary Crossing Probabilities for the Brownian Motion

Using martingale methods, we derive a set of theorems of boundary crossing probabilities for a Brownian motion with different kinds of stochastic boundaries, in particular compound Poisson process boundaries. We present both the numerical results and simulation experiments. The paper is motivated by limits on exposure of UK banks set by CHAPS. The central and participating banks are interested in the probability that the limits are exceeded. The problem can be reduced to the calculation of the boundary crossing probability from a Brownian motion with stochastic boundaries. Boundary crossing problems are also very popular in many fields of statistics.