We consider an economy with incomplete markets and a single firm and assume that utility can be freely transferred in the form of the initially available good 0 (quasilinearity). In this particularly simple and transparent framework, the objective of a firm can be defined as the maximization of the total utility of its control group C measured in units of good 0. We analyze how the size and the...

Transaction costs are one of the major impediments to the implementation of dynamic hedging strategies. We consider an alternative to utility maximization, similar to the “good-deal” pricing framework in incomplete markets. We perform a dynamic riskreward analysis for a family of non-self-financing strategies of practical importance: deterministic time hedging; i.e., hedging at predetermined, f...

One of the more challenging aspects of hybrid permanent magnet undulator design is end-field termination. Klaus Halbach provided indication of correct excitation patterns for tapered wigglers, but implementation on hybrid undulators has proven more difficult. Initial results on APS undulators achieved complete passive gap dependence of both total residual angle and trajectory through the device...

Introduction In reaction to what they considered the prevailing bias of second language acquisition (SLA) research towards cognitive-oriented theories, Firth and Wagner (1997) called for a greater recognition of the social context and interactive nature of language use. Without negating the importance of cognitive dimensions of learning, the authors noted that ―language is acquired and learned ...

Preface My first memory of the subject of this thesis is my own ignorance. In Septem-ber 1995, Dorothea Wagner had arranged for the newer members of her working group to attend a symposium held in Passau. The theme of the event was manifested in its title, Graph Drawing, and I wasn't quite expecting to plunge into my new area of interest. After all, mathematicians and computer scientists were g...

We study a family of unbounded polyhedra arising in the study of uncapacitated lot-sizing problems with Wagner-Whitin costs. With n the number of periods, we completely characterize the bounded faces of maximal dimension, and derive an O(n) algorithm to express any point within the polyhedron as a convex combination of extreme points and extreme rays. We also study adjacency on the polyhedra, a...

Article is made available in accordance with the publisher's policy and may be subject to US copyright law. Please refer to the publisher's site for terms of use. The MIT Faculty has made this article openly available. Please share how this access benefits you. Your story matters. In 2 þ 1 dimensions at finite temperature, spontaneous symmetry breaking of global symmetries is precluded by large...

In this paper some geometric structures on Finsler Lie algeboids are studied and h-basic distinguished connections introduced. Specially, Ichijy? connection that is a special investigated. The generalized Berwald algebroids presented, as particular case of Wagner-Ichijy? connection, studied. Moreover, the Wagner algebroid introduced equivalent conditions for space given. Finally, an optimal con...

Department of Biology, University of Pennsylvania, Philadelphia, PA, USA E-mail: [email protected] Any mention of neutral change and adaptation in the same breath inevitably brings to mind the battles over the causes of molecular evolution that have been so prominent and long-running in the field. While these arguments have evolved with the development of new models and new technologies, the ce...