On the Impossibility of Fair Risk Allocation
نویسندگان
چکیده
منابع مشابه
On the impossibility of fair risk allocation∗
Measuring and allocating risk properly are crucial for performance evaluation and internal capital allocation of portfolios held by banks, insurance companies, investment funds and other entities subject to financial risk. We show that by using a coherent measure of risk it is impossible to allocate risk satisfying the natural requirements of (Solution) Core Compatibility, Equal Treatment Prope...
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We show that the presence of even a single faulty process makes it impossible to design a strategy for fair allocation of a shared resource. A classic problem in distributed systems is the following resource allocation problem: given a set of processes sharing a resource, design a synchronisation mechanism that guarantees (i) mutual exclusion, i.e., at any moment, at most one process uses the r...
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The contribution of this paper is threefold. First, we propose a novel specification of the fair exchange problem that clearly separates safety and liveness. This specification assumes a synchronous model where processes communicate by message passing and might behave maliciously. In this model, we prove a first impossibility related to the notion of trust, stating that no solution to fair exch...
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Article history: Received 6 October 2008 Received in revised form 27 May 2009 Accepted 10 June 2009 Available online 21 June 2009
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ژورنال
عنوان ژورنال: The B.E. Journal of Theoretical Economics
سال: 2016
ISSN: 2194-6124,1935-1704
DOI: 10.1515/bejte-2014-0051