Default Logic employs assumption-based default rules to draw plausible consequences in face of incomplete information. In ontology representation, there are two kinds of relations between concepts: subsumption relation and default subsumption relation. Subsumption relation is transitive, whereas default subsumption relation is transitive by default. Both default transitivity of default subsumpt...

This paper is about the fusion of multiple information sources represented using default logic. More precisely, the focus is on solving the problem that occurs when the standard-logic knowledge parts of the sources are contradictory, as default theories trivialize in this case. To overcome this problem, it is shown that replacing each formula belonging to Minimally Unsatisfiable Subformulas by ...

We investigate default probabilities and default correlations of Merton-type credit portfolio models in stress scenarios where a common risk factor is truncated. The analysis is performed in the class of elliptical distributions, a family of light-tailed to heavy-tailed distributions encompassing many distributions commonly found in financial modelling. It turns out that the asymptotic limit of...

Scholars continue to debate why states repay their debts foreign creditors. The existing literature stresses the short-term economic and political costs that deter default, focusing on reputational damage, creditor reprisals, spillover loss of office. International Relations scholars economists have largely tested these explanations using quantitative methods, framing analyses as a choice betwe...