Probability theory is the standard economic representation of uncertainty, although it is not always an accurate one. Fuzzy logic is an alternative representation that does not require individual beliefs regarding the explicit functional form of uncertainty. This paper applies fuzzy logic to an oligopoly trigger pricing game. The fuzzy trigger pricing game reverses the standard cyclical price w...

Under the assumption of normally distributed returns, we analyze whether the Cumulative Prospect Theory of Tversky and Kahneman (1992) is consistent with the Capital Asset Pricing Model. We find that in every financial market equilibrium the Security Market Line Theorem holds. However, under the specific functional form suggested by Tversky and Kahneman (1992) financial market equilibria do not...

Pre/post contracts for higher-order functions, as proposed by Findler and Felleisen and provided in Racket, allow run-time verification and blame assignment of higher-order functions. However these contracts treat contracted functions as black boxes, allowing verification of only input and output. It turns out that many interesting concerns about the behaviour of a function require going beyond...

PURPOSE To study the sequential postblink changes in ocular higher-order aberrations (HOAs) in patients with dry eye. METHODS A wavefront sensor was used to measure HOAs sequentially for 30 seconds in 20 eyes of 20 patients with dry eye. The 20 eyes were classified into two groups, with or without superficial punctate keratopathy (SPK) in the central cornea. During the measurement, subjects w...

BACKGROUND Recently, instruments for the measurement of wavefront aberration in the living human eye have been widely available for clinical applications. Despite the extensive background experience on wavefront sensing for research purposes, the information derived from such instrumentation in a clinical setting should not be considered a priori precise. We report on the variability of such an...

We enjoyed reading the article by Esteve-Taboada et al.,1 but were disappointed by their interpretation of their data. Their optical model has important limitations that make it inappropriate to make broad clinical generalizations from their findings. First, the “aberration-free” eye model is highly artificial. In particular, the absence of any spherical aberration is relevant to only a small p...

It is the aim of this paper to advocate the use of functor categories as a semantic foundation of higher-order abstract syntax (HOAS). By way of example, we will show how functor categories can be used for at least the following applications: relating first-order and higher-order abstract syntax (proofs of adequacy) without using reduction rules, justifying induction principles and other axioms...

In this paper we maximize the utility of a structural model of the demand for multi-destination non-work travel using maximum entropy method introduced by Shanon. A utility value is assigned when only partial information is available about the decision maker’s preferences. The maximum entropy utility solution embeds a large family of utility functions that includes the most commonly used functi...

It is shown that in the estimation of an arbitrary signal corrupted by additive Gaussian noise, the optimum minimum-variance estimator is always a simple linear transformation of the logarithmic gradient of the average likelihood ratio which is obtained in the optimum detection of the same signal. Conversely, the average likelihood ratio can always be expressed in a simple functional form conta...