Common Failings: How Corporate Defaults are Correlated We develop, and apply to data on U.S. corporations from 1987-2000, tests of the standard doubly-stochastic assumption under which firms’ default times are correlated only as implied by the correlation of factors determining their default intensities. This assumption is violated in the presence of contagion or “frailty” (unobservable covaria...

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Default reasoning is computationally expensive. One of the most promising ways of easing this problem and developing powerful implementations is to split a default theory into smaller parts and compute extensions in a modular, \local" way. Up to now this idea was only followed for Reiter's default logic, yet it is also relevant to other variants of default logic which have found increasing reco...

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Source URL (retrieved on 2017-07-13 14:06): http://www.inf.u-szeged.hu/munkatarsaknak/dohanyzasi-rend Links: [1] http://www.inf.u-szeged.hu/../sites/default/files/munkatarsaknak/1999-evi-trv.pdf [2] http://www.inf.u-szeged.hu/../sites/default/files/munkatarsaknak/2009-evi-rendelet.pdf [3] http://www.inf.u-szeged.hu/../sites/default/files/munkatarsaknak/Fotitkari_Tajekoztato_a_dohanyz as_szabaly...