We present a framework of L-fuzzy modifiers for L being a complete lattice. They are used to model linguistic hedges that act on linguistic terms represented by L-fuzzy sets. In the modelling process the context is taken into account by means of L-fuzzy relations, endowing the L-fuzzy modifiers with a clear inherent semantics. To our knowledge, these L-fuzzy modifiers are the first ones propose...

s | 83 included) and Mantel Haenszel-Risk Ratio of 1.31, 95% CI=1.01 to 1.69 (p=0.04) favouring active treatment over placebo according to response rates (12 studies included). Trials were patients merely had BLT as active treatment indicated a higher effect size (Hedges`s g= -0.51, 95%CI =-0.70 to -0.32 and p=0.001) than studies with concomitant psychopharmacological treatment (Hedges`s g= -0....

We introduce belief hedges, i.e., sets of events whose uncertain subjective beliefs neutralize each other. Belief hedges allow us to measure ambiguity attitudes without knowing those beliefs. They lead improved indexes that are valid under all popular theories. Our can be applied real-world problems and do not require expected utility for risk or commitments two-stage optimization, thereby incr...

We study the problem of hedging early exercise (American) options with respect to exponential utility within a general incomplete market model. This leads us to construct a duality formula involving relative entropy minimization and optimal stopping. We further consider claims with multiple exercises, and static-dynamic hedges of American claims with other European and American options. The pro...

s | 83 included) and Mantel Haenszel-Risk Ratio of 1.31, 95% CI=1.01 to 1.69 (p=0.04) favouring active treatment over placebo according to response rates (12 studies included). Trials were patients merely had BLT as active treatment indicated a higher effect size (Hedges`s g= -0.51, 95%CI =-0.70 to -0.32 and p=0.001) than studies with concomitant psychopharmacological treatment (Hedges`s g= -0....

The starting point of this paper are the works of Hájek and Vychodil on the axiomatization of truthstressing and -depressing hedges as expansions of Hájek’s BL logic by new unary connectives. They showed that their logics are chain-complete, but standard completeness was only proved for the expansions over Gödel logic. We propose weaker axiomatizations over an arbitrary core fuzzy logic which h...

We study optimal hedging of barrier options using a combination of a static position in vanilla options and dynamic trading of the underlying asset. The problem reduces to computing the Fenchel-Legendre transform of the utility-indifference price as a function of the number of vanilla options used to hedge. Using the well-known duality between exponential utility and relative entropy, we provid...

The starting point of this paper are the works of Hájek and Vychodil on the axiomatization of truth-stressing and depressing hedges as expansions of Hájek's BL logic by new unary connectives. They showed that their logics are chain-complete, but standard completeness was only proved for the expansions over Gödel logic. We propose weaker axiomatizations over an arbitrary core fuzzy logic which h...

The paper updates on the notion «hedging». While analyzing, we have not encountered any research its peculiarities in courtroom discourse. So, it is possible to affirm that this study relevant. With mind, aim of explore characteristics hedging results our survey confirmed discourse hedges perform role strengthening arguments, persuasive function; function building rapport with jury; credibility...