scholarly journals HOW TO NOT MIX WORDS AND OBJECTS

2021 ◽  
pp. 291-303
Author(s):  
Иван Борисович Микиртумов
Keyword(s):  
Value Function ◽  
World Line ◽  
Intensional Logic ◽  
Main Task ◽  
Object Language ◽  
Rigid Designator ◽  
Possible World ◽  
Rigid Designators ◽  
The Value Function ◽  
The Way

В статье я излагаю свои соображения по поводу статьи Евгения Борисова, помещённой в этом выпуске журнала. Попутно я излагаю своё видение проблем кросс-мировой предикации и кросс-идентификации. Я полагаю, что межмировое тождество невозможно и что главная задача состоит в обеспечении идентификации. Для этого можно использовать либо метод поддержания когнитивного контакта либо метод двойников, отождествляемых по набору существенных признаков. Он определяется прагматически. Метод жёстких десигнаторов также ведёт к интенсиональной логике, поскольку в языке-объекте должны присутствовать релятивизованные к мирам имена объектов. Борисов пытается построить логику кросс-мировой предикации сразу на нескольких основаниях, которые плохо совместимы друг с другом. Он квантифицирует по возможным индивидам, но при этом пытается опереться на метаязыковые имена индивидов как на основание для кросс-идентификации, метаязыковое имя индивида становится аргументом для функции значения, хотя не является жёстким десигнатором. Ключевая операция системы Борисова - назначение двойника в возможном мире - спрятана за функцией f, которая выступает в роли условия идентификации, т. е. прочерчивает кросс-мировую линию. На мой взгляд, система имеет потенциал, но нуждается в додумывании и уточнении. In this article, I present my comments on the article by Evgeny Borisov, which is included in this issue of the journal. Along the way, I set out my vision of the problems of cross-world predication and cross-identification. I believe that cross-world identity is impossible, and that the main task is to provide identification. To do this, you can use either the method of keeping cognitive contact, or the method of counterparts identified by a set of essential features, which is defined pragmatically. The method of rigid designators leads to intensional logic, since the object language must contain object names that are relativized to worlds. Borisov is trying to build the logic of cross-world predication on several bases at once, which are poorly compatible with each other. He quantifies over the domain of possible individuals, but at the same time he tries to rely on the metalinguistic names of individuals as a basis for cross-identification, the metalinguistic name of an individual becomes an argument for the value function, although it is not a rigid designator. The key operation of Borisov’s system is the appointment of a counterpart in a possible world. It is hidden behind the function f, which acts as a condition for identification, that is, it draws a cross-world line. In my opinion, the system has some good prospects, but it needs to be thought out and refined.

The pragmatic fallacies of the New Theory of Reference

1998 ◽  
Vol 6 (1-2) ◽  
pp. 9-20
Author(s):  
Jaakko Hintikka
Keyword(s):  
Noun Phrase ◽  
Proper Names ◽  
Object Identification ◽  
Identification System ◽  
Rigid Designator ◽  
Possible World ◽  
Rigid Designators ◽  
Rigid Designation ◽  
Language User ◽  
Reference Relation

As is well known, according to the "new" theory of reference, the reference relation can be carried out by means of rigid designators whose relationship with the object they designate cannot be analyzed away. Moreover, the new theorists claim, the category of proper names in a natural language marks almost invariably rigid designators. In this paper, both claims are rejected. Using distinctions between the referential system (which determines which entities the primitive symbols of language refer to in each possible world) and the identification system (which determines which member of one world is identical with which member of another), and between two types of object identification (public and perspectival), it is argued that the use of a noun phrase as a rigid designator is predicated on the assumption that a language user knows who (or what) the noun phrase refers to in the actual world. The conclusion is that rigid designation is not a conceptually irreducible reference relation, nor are proper names always used as rigid designators.

The value function for time-related decisions

2011 ◽  
Author(s):  
Anouk Festjens ◽  
Siegfried Dewitte ◽  
Enrico Diecidue ◽  
Sabrina Bruyneel
Keyword(s):  
Value Function ◽  
The Value Function

Market Reforms in Russia: Can the Vicious Circle Be Teared Open?

2004 ◽  
pp. 114-128
Author(s):  
V. Nimushin
Keyword(s):  
Economic Policy ◽  
Comparative Analysis ◽  
Historical Context ◽  
Vicious Circle ◽  
Modern World ◽  
Market Reforms ◽  
Main Task ◽  
Forward Movement ◽  
Socially Responsible ◽  
The Way

In the framework of broad philosophic and historical context the author conducts comparative analysis of the conditions for assimilating liberal values in leading countries of the modern world and in Russia. He defends the idea of inevitable forward movement of Russia on the way of rationalization and cultivation of all aspects of life, but, to his opinion, it will occur not so fast as the "first wave" reformers thought and in other ideological and sociocultural forms than in Europe and America. The author sees the main task of the reformist forces in Russia in consolidation of the society and inplementation of socially responsible economic policy.

scholarly journals Pricing Perpetual American Put Options with Asset-Dependent Discounting

2021 ◽  
Vol 14 (3) ◽  
pp. 130
Author(s):  
Jonas Al-Hadad ◽  
Zbigniew Palmowski
Keyword(s):  
Value Function ◽  
Asset Price ◽  
Stopping Times ◽  
Martingale Measure ◽  
Put Options ◽  
American Put Options ◽  
Exact Calculations ◽  
Negative Exponential ◽  
American Put ◽  
The Value Function

The main objective of this paper is to present an algorithm of pricing perpetual American put options with asset-dependent discounting. The value function of such an instrument can be described as VAPutω(s)=supτ∈TEs[e−∫0τω(Sw)dw(K−Sτ)+], where T is a family of stopping times, ω is a discount function and E is an expectation taken with respect to a martingale measure. Moreover, we assume that the asset price process St is a geometric Lévy process with negative exponential jumps, i.e., St=seζt+σBt−∑i=1NtYi. The asset-dependent discounting is reflected in the ω function, so this approach is a generalisation of the classic case when ω is constant. It turns out that under certain conditions on the ω function, the value function VAPutω(s) is convex and can be represented in a closed form. We provide an option pricing algorithm in this scenario and we present exact calculations for the particular choices of ω such that VAPutω(s) takes a simplified form.

scholarly journals Robo-Advising: Learning Investors’ Risk Preferences via Portfolio Choices*

2020 ◽  
Author(s):  
Humoud Alsabah ◽  
Agostino Capponi ◽  
Octavio Ruiz Lacedelli ◽  
Matt Stern
Keyword(s):  
Opportunity Cost ◽  
Value Function ◽  
Risk Preference ◽  
Portfolio Decisions ◽  
Learning Framework ◽  
Portfolio Choices ◽  
Trading Decisions ◽  
Exploration Exploitation ◽  
The Value Function ◽  
Over Time

Abstract We introduce a reinforcement learning framework for retail robo-advising. The robo-advisor does not know the investor’s risk preference but learns it over time by observing her portfolio choices in different market environments. We develop an exploration–exploitation algorithm that trades off costly solicitations of portfolio choices by the investor with autonomous trading decisions based on stale estimates of investor’s risk aversion. We show that the approximate value function constructed by the algorithm converges to the value function of an omniscient robo-advisor over a number of periods that is polynomial in the state and action space. By correcting for the investor’s mistakes, the robo-advisor may outperform a stand-alone investor, regardless of the investor’s opportunity cost for making portfolio decisions.

Metric for Disassembly and Reuse Decisions: Formulation and Validation

2008 ◽  
Author(s):  
Vijitashwa Pandey ◽  
Deborah Thurston
Keyword(s):  
Maximum Likelihood ◽  
Value Function ◽  
Choice Theory ◽  
Decision Makers ◽  
Maximum Likelihood Estimates ◽  
Likelihood Method ◽  
Maximum Value ◽  
Long Range Planning ◽  
The Relationship ◽  
The Value Function

Design for disassembly and reuse focuses on developing methods to minimize difficulty in disassembly for maintenance or reuse. These methods can gain substantially if the relationship between component attributes (material mix, ease of disassembly etc.) and their likelihood of reuse or disposal is understood. For products already in the marketplace, a feedback approach that evaluates willingness of manufacturers or customers (decision makers) to reuse a component can reveal how attributes of a component affect reuse decisions. This paper introduces some metrics and combines them with ones proposed in literature into a measure that captures the overall value of a decision made by the decision makers. The premise is that the decision makers would choose a decision that has the maximum value. Four decisions are considered regarding a component’s fate after recovery ranging from direct reuse to disposal. A method on the lines of discrete choice theory is utilized that uses maximum likelihood estimates to determine the parameters that define the value function. The maximum likelihood method can take inputs from actual decisions made by the decision makers to assess the value function. This function can be used to determine the likelihood that the component takes a certain path (one of the four decisions), taking as input its attributes, which can facilitate long range planning and also help determine ways reuse decisions can be influenced.

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