t Wilkie's stochastic investment model and its variants have been increasingly applied by actuaries around the world to actuarial modeling and simulation. This paper performs time series outlier analysis on retail price inflation, which is the driving force of Wilkie's composite model. The data come from four developed countries: the United Kingdom, the United States, Canada, and Australia. The...

This study investigates whether personal taxes are related to asset valuations. The effective tax rate of investment income fluctuated considerably since federal income taxes were introduced. The main result of the paper demonstrates that there is an economically and statistically significant relationship between asset valuations and personal tax rates. Stock valuations tend to be higher when t...

40] A.J. Wilkie. Model completeness results for expansions of the ordered eld of real numbers by restricted Pfaaan functions and the exponential function. for discussions and comments, anonymous referees for suggesting numerous improvements, and Mihalis Yannakakis for his suggestions that helped improve the presentation.

• Since Wilkie’s result [9] (which established that the elementary theory Texp of (R, exp) is model complete and o-minimal), many o-minimal expansions of the reals have been investigated. The problem of constructing nonarchimedean models of Texp (and more generally, of an ominimal expansion of the reals) gained much interest. • In [2] it was shown that fields of generalized power series cannot ...

We begin with some thoughts on how model theory relates to other parts of mathematics, and on the indirect role of Gödel’s incompleteness theorem in this connection. With this in mind we consider in Section 2 the fields of real and p-adic numbers and show how these algebraic objects are understood model-theoretically: theorems of Tarski, Kochen, and Macintyre. This leads naturally to a discussi...

The study of memory for event duration in pigeons has, for the most part, centered on an unusual behavioral phenomenon and an interesting theoretical explanation for it. A typical experiment on memory for event duration involves trials initiated by a sample stimulus that is either short or long in duration (e.g., 2 vs. 10 sec of houselight) and that is later followed by the simultaneous present...

T he purpose of this study is to analyze the effect of foreign direct investment and portfolio investment on the convergence occurrence of economic growth of countries in the ASEAN + 3 region and to determine the time or speed required to achieve convergence. The type of data used in this research is secondary data panel which is combination between time series data and cross-section...

The complexity class of Πpk-Polynomial Local Search (PLS) problems with Πp` -goal is introduced, and is used to give new characterisations of definable search problems in fragments of Bounded Arithmetic. The characterisations are established via notations for propositional proofs obtained by translating Bounded Arithmetic proofs using the Paris-Wilkie-translation. For ` ≤ k, the Σ`+1-definable ...

among investments in different sections of economy, investment in agriculture is great importance. in addition to increasing production and job opportunities in agriculture, investment in this section will help to increase these in other sections as well, due to back and front relations with other economic activities. due to the fact that investment does not yield rapidly, and it takes some tim...

Wilkie (1999) proved a “theorem of the complement” which implies that in order to establish the o-minimality of an expansion of R with C∞ functions it suffices to obtain uniform (in the parameters) bounds on the number of connected components of quantifier free definable sets. He deduced that any expansion of R with a family of Pfaffian functions is o-minimal. We prove an effective version of W...