This article provides an exact Bayesian frame­ work for analyzing the arbitrage pricing the­ ory (APT). Based on the Gibbs sampler, we show how to obtain the exact posterior distributions for functions of interest in the factor modeL In particular, we propose a measure of the APT pricing deviations and obtain its exact posterior distribution. Using monthly portfolio returns grouped by industry ...

The current understanding of the articulation between the-ory construction and experimental observation is still strongly influenced by the way it is instantiated in Physics. In the last decades, however, the upsurge of molecular Biology has provided a different framework and a source of novel insight. A discipline with openly explanatory and pre-dictive goals, molecular Biology relies to a lar...

In this paper we describe the application of Memory Based Learning to the problem of Prepositional Phrase attachment disam biguation We compare Memory Based Learning which stores examples in mem ory and generalizes by using intelligent sim ilarity metrics with a number of recently proposed statistical methods that are well suited to large numbers of features We evaluate our methods on a common ...

This paper proposes two types of new auziliary ory. The first t y p e of the auxiliary matching store achieves high matching rate b y combining the LRU replacement algorithm and a simple match structure together. The second one achieves high match rate b y controlling strictly the number of active processes with an explicit hardware. Owing to some special characteristics of dynamic dataflow com...

This paper presents the underlying theory for a process calculus featuring process creation and sequential composition instead of the more usual parallel composi tion and action pre xing in a setting where mobility is achieved by communicating channel names We discuss the questions of scope and name binding raised by the interaction of mobility and sequential composition Substitution of names i...

A totally proper poset is a partially ordered set which is proper and has the property that forcing with it does not add reals This announcement has to do with various uses of these kinds of posets either by themselves or in combination with other kinds of proper posets to construct models of set the ory in which various strong topological statements hold Some of these statements have not been ...

Memory bounded algorithms such as Korf s IDA and Chakrabarti et al s MA are designed to overcome the impractical memory requirements of heuristic search algorithms such as A It is shown that IDA is ine cient when the heuristic function can take on a large number of values this is a consequence of using too little memory Two new algorithms are developed The rst SMA simpli es and improves upon MA...

We describe an experimental approach toward implementing a commonsense ``microthe ory’ ’ for buying and se lling. Our prototype system characterize s how inte lligent agents hold items and money, how they buy and se ll items, and the way money and items are transfe rred. The ontology of the . system include s mone y cash, che ck, credit card , agents people , organiza. . tions , items movable ,...

We develop a qualitative model of decision making with two aims: to describe how peo­ ple make simple decisions and to enable com­ puter programs to do the same. Current ap­ proaches based on Planning or Decision The­ ory either ignore uncertainty and tradeoffs, or provide languages and algorithms that are too complex for this task. The proposed model provides a language based on rules, a seman...