This paper proves, in very general settings, that convex risk minimization is a procedure to select a unique conditional probability model determined by the classification problem. Unlike most previous work, we give results that are general enough to include cases in which no minimum exists, as occurs typically, for instance, with standard boosting algorithms. Concretely, we first show that any...

Empirical evidence shows that entrepreneurs hold a large fraction of wealth, have higher saving rates than workers, and face substantial uninsurable entrepreneurial and investment risks. This paper constructs a heterogeneous-agent general equilibrium model with uninsurable entrepreneurial risk and capital-market imperfections to explore the implications of uninsurable entrepreneurial risk for w...

Let (X ,μ) be a probability space, set X to be distributed according to μ and put Y to be an unknown target random variable. In the usual setup in learning theory, one observes N independent couples (Xi, Yi)Ni=1 in X × R, distributed according to the joint distribution of X and Y . The goal is to construct a real-valued function f which is a good guess/prediction of Y . A standard way of measur...

Abstract. This article is devoted to the analysis of a Monte-Carlo method to approximate effective coefficients in stochastic homogenization of discrete elliptic equations. We consider the case of independent and identically distributed coefficients, and adopt the point of view of the random walk in a random environment. Given some final time t > 0, a natural approximation of the homogenized co...

Flat plate skin friction calculations over a range of Mach numbers from 0.4 to 3.5 at Reynolds numbers from 16 million to 492 million using a Navier Stokes method with advanced turbulence modeling are compared with incompressible skin friction coefficient correlations. The semi-empirical correlation theories of van Driest; Cope; Winkler and Cha; and Sommer and Short T’ are used to transform the...

In empirical corporate finance, firm size is commonly used as an important, fundamental firm characteristic. However, no paper comprehensively assesses the sensitivity of empirical results in corporate finance to different measures of firm size. This paper fills this hole by providing empirical evidence for “measurement effect” in “size effect”. In particular, this paper studies the influences ...

Population structure can be described by genotypic-correlation coefficients between groups of individuals, the most basic of which are the pairwise relatedness coefficients between any two individuals. There are nine pairwise relatedness coefficients in the most general model, and we show that these can be reduced to seven coefficients for biallelic loci. Although all nine coefficients can be e...