This study examines how accounting has informed private equity diversification claims and demand for private equity investments. Despite research showing private equity lacks portfolio diversification benefits, those marketing private equity assets continue to emphasize its diversification value, and demand for private equity investments has surged. Exploiting the change in international accoun...

Dechow, Myers, and Shakespeare (DMS, 2009) find a negative relation between income from securitization activities and income from non-securitization activities. DMS interprets this finding as indicating that managers use the flexibility available in fair value accounting rules to smooth earnings. We clarify the role of fair value in accounting for asset securitizations, discuss alternative expl...

This paper presents a study carried out on a Weighted Fair Queuing implementation for Unix routers the WFQ implementation of the ALTQ project. It shows the WFQ/ALTQ weaknesses and explains why we cannot expect an interesting behavior from a system using such a

Unfortunately the fair value of a liability that is not actively or efficiently traded is not readily ascertainable through a financial market. This is in contrast to publicly traded assets such as bonds and stocks. However various approaches can be taken to determine estimates of such values based on discounted cash flow (DCF) techniques. Such techniques are also used to determine the fair val...

In this paper we present the fundamental approaches of financial economics to valuation. Three methods are demonstrated by which financial economists account for risk. We illustrate how these methods relate to one another and how they can be applied in the valuation of risky corporate bonds, guaranteed investment contracts (GICs) with and without interest rate contingencies, and whole life insu...

We propose a new quality metric for recommender systems. The main feature of our approach is the fact, that we take into account the set of requirements, which are important for business application of a recommender. Thus, we construct a general criterion, named “audience satisfaction”, which thoroughly describe the result of interaction between users and recommendation service. During the crit...

We study the role of interbank competition in shaping banks’ incentives to use fair-value accounting voluntarily and the impact of fair-value discretion on banks’ competing strategies. We find that allowing banks discretion to use fair-value accounting may give rise to multiple equilibria in situations where the equilibrium would be otherwise unique. When the profitability in the banking indust...

When assessing a pay-for-performance arrangement, the following factors should be considered: Existence and/or size of minimum savings threshold before savings are allocated. Savings allocation percentage available to physicians. Benchmarks used to measure quality against past performance and/or medical evidence. Ways in which quality outcomes are measured and paid for. Per member per month pay...

Ethics and safety research in artificial intelligence is increasingly framed in terms of “alignment” with human values and interests. I argue that Turing’s call for “fair play for machines” is an early and often overlooked contribution to the alignment literature. Turing’s appeal to fair play suggests a need to correct human behavior to accommodate our machines, a surprising inversion of how va...