Although risk management has been a well-plowed field in financial modeling for more than two decades, traditional risk management tools such as mean–variance analysis, beta, and Value-at-Risk do not capture many of the risk exposures of hedge-fund investments. In this article, I review several unique aspects of risk management for hedge funds—survivorship bias, dynamic risk analytics, liquidit...

The training dynamics of two-layer neural networks with batch normalization (BN) is studied. It written as the a network without BN on Riemannian manifold. Therefore, we identify BN’s effect changing metric in parameter space. Later, infinite-width limit considered, and mean-field formulation derived for dynamics. shown to be Wasserstein gradient flow Theoretical analysis provided well-posednes...

When dealing with dynamic optimization problems, time consistency is a desirable property as it allows one to solve the problem efficiently through backward recursion. The mean-risk known be inconsistent when considered in its scalarized form. However, left original bi-objective form, turns out satisfy more general that seems better suited vector problem. In “Time Consistency of Mean-Risk Probl...

background: every year many organizations formulate a code of ethics (coe) but when it comes to implementing, it does not achieve the desired purposes. ineffectiveness of coes can stem from different factors and surely, one of them is bad formulation. this research was conducted to identify the barriers to effective formulation of coes in one of the main state universities of medical sciences i...