This paper proves, in very general settings, that convex risk minimization is a procedure to select a unique conditional probability model determined by the classification problem. Unlike most previous work, we give results that are general enough to include cases in which no minimum exists, as occurs typically, for instance, with standard boosting algorithms. Concretely, we first show that any...

Empirical evidence shows that entrepreneurs hold a large fraction of wealth, have higher saving rates than workers, and face substantial uninsurable entrepreneurial and investment risks. This paper constructs a heterogeneous-agent general equilibrium model with uninsurable entrepreneurial risk and capital-market imperfections to explore the implications of uninsurable entrepreneurial risk for w...

Let (X ,μ) be a probability space, set X to be distributed according to μ and put Y to be an unknown target random variable. In the usual setup in learning theory, one observes N independent couples (Xi, Yi)Ni=1 in X × R, distributed according to the joint distribution of X and Y . The goal is to construct a real-valued function f which is a good guess/prediction of Y . A standard way of measur...

Purpose Pilot upgrade training is critical to aircraft and passenger safety. This study aims identify variances in the US Air Force C-130J pilot based on geographic location provide a model enhance policy that will impact future efforts lower cost increase operator quality proficiency. Design/methodology/approach research employed mixed-method approach. First, authors collected data analyzed 90...