Results 201 to 210 of about 11,092,921 (297)

The Optimal Mean–Variance Selling Problem With Finite Horizon

open access: yesMathematical Finance, EarlyView.
ABSTRACT The optimal mean–variance selling problem seeks to determine a dynamically optimal stopping time in the nonlinear problem sup0≤τ≤TE(Xτ)−cVar(Xτ)$\sup _{0 \le \tau \le T} \left[ \mathsf {E}\,\!(X_\tau) - c\, \mathsf {V}ar\,\!(X_\tau) \right]$, where X$X$ is a geometric Brownian motion with strictly positive drift, the supremum is taken over ...
Peter Johnson   +2 more
wiley   +1 more source

Information‐Theoretic Approach to Financial Market Modeling

open access: yesMathematical Finance, EarlyView.
ABSTRACT The paper treats the financial market as a communication system, using four information‐theoretic assumptions to derive an idealized model with only one parameter. State variables are scalar stationary diffusions. The model maximizes the surprisal of the market and minimizes the Kullback–Leibler divergence between the benchmark‐neutral pricing
Eckhard Platen
wiley   +1 more source

Pension Systems (Un)sustainability and Fiscal Constraints: A Comparative Analysis

open access: yesOxford Bulletin of Economics and Statistics, EarlyView.
ABSTRACT Using an overlapping generations model, two new indicators of public pension system sustainability are proposed: the pension space, which measures the capacity to pay for pension expenditures out of labour taxation, and the pension space exhaustion probability reflecting demographic uncertainties.
Burkhard Heer   +2 more
wiley   +1 more source

Do State Lotteries Exploit their Lottery Power? Optimal Lotto Pricing With Heterogeneous Players: Evidence from the United Kingdom

open access: yesOxford Bulletin of Economics and Statistics, EarlyView.
ABSTRACT We propose a new model of revenue‐maximising lottery pricing under income‐related heterogeneity and apply it to 13 years of UK National Lottery data. Our pricing rule shows how a state's lottery power is shaped by heterogeneities in lotto demand and the income distribution, and we study its efficiency and distributional implications.
Martin Forster   +2 more
wiley   +1 more source

Comparative Analysis of Three Vertebral Screw Placement Directions in Anterior Thoracolumbar Fracture Surgery: A Finite Element Study

open access: yesOrthopaedic Surgery, Volume 17, Issue 5, Page 1464-1477, May 2025.
This study compares the biomechanical effects of three anterior fixation systems in thoracolumbar surgery—HXTL, NHXTL, and Medtronic's CD Horizon ANTERIOR. Finite element analysis evaluates stress and displacement across vertebral bodies and support structures under varying load conditions. Results indicate the HXTL system minimizes nail–rod stress yet
Xuehai Jia   +7 more
wiley   +1 more source

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