We present evidence that intrinsic demand for information about the future is increasing in expected future consumption utility. In the first experiment, subjects may resolve a lottery now or later. The information is useless for decision making but the larger the reward, the more likely subjects are to pay to resolve the lottery early. In the second experiment subjects may pay to avoid being t...

We study properties of structured financial products optimizing a utility functional of a customer. The conventional method may have the disadvantage that the a priori restriction to a certain number of assets could make it impossible to find the optimal portfolio. So instead of optimizing the distribution of given assets, we impose only the price constraint as given by the CAPM and optimize th...

We present the use of layered probabilistic representations for modeling human activities, and describe how we use the representation to do sensing, learning, and inference at multiple levels of temporal granularity and abstraction and from heterogeneous data sources. The approach centers on the use of a cascade of Hidden Markov Models named Layered Hidden Markov Models (LHMMs) to diagnose stat...