Levy and Levy (2002, 2004) develop the Prospect and Markowitz stochastic dominance theory with S-shaped and reverse S-shaped utility functions for investors. In this paper, we extend Levy and Levy’s Prospect Stochastic Dominance theory (PSD) and Markowitz Stochastic Dominance theory (MSD) to the first three orders and link the corresponding S-shaped and reverse S-shaped utility functions to the...

Rock–paper–scissors (RPS) game is a nice model to study the biodiversity in ecosystem. However, the previous studies only consider the nearestneighborinteraction among the species. In this paper, taking the long range migration into account, the effects of the interplay between nearest-neighbor-interaction and long-range-interaction of Levy flight with distance distribution h l (-0.3<h<-0.1) in...

coupling interval, and the "rule of multiples." Saishin-Igaku 15: 1865, 1960 2. Schamroth L, Marriott JHL: Intermittent ventricular parasystole with observations on its relationship to extrasystolic bigeminy. Am J Cardiol 7: 799, 1961 3. Schamroth L, Marriott HJL: Concealed ventricular extrasystoles. Circulation 27: 1043, 1963 4. Schamroth L: The physiological basis of ectopic ventricular rhyth...

In recent studies the truncated Levy process (TLP) has been shown to be very promising for the modeling of financial dynamics. In contrast to the Levy process, the TLP has finite moments and can account for both the previously observed excess kurtosis at short timescales, along with the slow convergence to Gaussian at longer timescales. I further test the truncated Levy paradigm using high freq...

In this paper we analyze asset returns models with diffusion part and jumps in returns with stochastic volatility either from diffusion or pure jump part. We consider different specifications for the pure jump part including compound Poisson, Variance Gamma and Levy α-stable jumps. Monte Carlo Markov chain algorithm is constructed to estimate models with latent Variance Gamma and Levy α−stable ...