This paper studies a new risk measure derived from the expected area in red introduced in Loisel (2005). Specifically, we derive various properties of a risk measure defined as the smallest initial capital needed to ensure that the expected time-integrated negative part of the risk process on a fixed time interval [0, T ] (T can be infinite) is less than a given predetermined risk limit. We als...

Controversy about the fairness of early transitions from traditional definedbenefit plans to cash-balance plans may have over-shadowed the subtleties of funding a cash-balance pension liability. Because crediting rates of cashbalance liabilities float with market rates, the same techniques used to value and hedge floating-rate bonds provide the present-value cost and effective duration of a cas...

We consider the problem of allocating indivisible goods using the leading notion of fairness in economics: the competitive equilibrium from equal incomes. Focusing on two major classes of valuations, namely perfect substitutes and perfect complements, we establish the computational properties of algorithms operating in this framework. For the class of valuations with perfect complements, our al...

We consider a system with a single queue and multiple server pools of heterogenous exponential servers. The system operates under a policy that always routes a job to the pool with longest cumulative idleness among pools with available servers, in an attempt to achieve fairness toward servers. It is easy to find examples of a system with a fixed number of servers, for which fairness is not achi...

Software engineers face a real probtem in guaranteeing that their computer programming systems under development will be able to function in a reliable manner and be easily understood, maintained and extended. A major impediment of this problem is coping with the inherent complexity of the software system in an effective way. The complexity of the computer system will defeat the designer's effo...

Multiscale entropy (MSE) was proposed to overcome the deficiencies of conventional entropy methods when quantifying the complexity of time series. However, MSE is not fast enough for real-time applications because of the use of sample entropy (SampEn). Here, we introduce multiscale DisEn (MDE) as a very fast and powerful method to quantify the complexity of signals. MDE is based on our recently...

Humans have an impressive ability to solve even computationally complex problems. Limited cognitive processing capabilities, however, impede an exhaustive search of the problem space. Thus, planning problems of the same size may require a different cognitive effort. Formal complexity aspects are inherent to a problem and set computational limits that a solver must deal with. For a measure of co...

We show that finding a graph realization with the minimum Randić index for a given degree sequence is solvable in polynomial time by formulating the problem as a minimum weight perfect b-matching problem. However, the realization found via this reduction is not guaranteed to be connected. Approximating the minimum weight b-matching problem subject to a connectivity constraint is shown to be NP-...

Object-oriented paradigm is built on the notion of real world entities. This paradigm has received higher acceptability among the programming community. This is because the programs written using an object-oriented language are easier to comprehend as compared to the procedural programs. Hence this paper makes an attempt to apply Cognitive Information Complexity Measure (CICM) on object-oriente...

The quantitative evaluation of order and complexity conforming with human intuitive perception has been at the core of computational notions of aesthetics. Informational theories of aesthetics have taken advantage of entropy in measuring order and complexity of stimuli in relation to their aesthetic value. However entropy fails to discriminate structurally different patterns in a 2D plane. This...