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Utility, Rationality and Beyond - From Finance to Informational Finance (Ph. D. Dissertation, Bond University)

Utility, Rationality and Beyond - From Finance to Informational Finance (Ph. D. Dissertation, Bond University)
Author: Sukanto Bhattacharya
Publisher: Infinite Study
Total Pages: 134
Release: 2005
Genre: Business & Economics
ISBN: 1931233853

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This work has been wholly adapted from the dissertation submitted by the author in 2004 to the Faculty of Information Technology, Bond University, Australia in fulfilment of the requirements for his doctoral qualification in Computational Finance.This work covers a substantial mosaic of related concepts in utility theory as applied to financial decision-making. The main body of the work is divided into four relevant chapters. The first chapter takes up the notion of resolvable risk i.e. systematic investment risk which may be attributed to actual market movements as against irresolvable risk which is primarily born out of the inherent imprecision associated with the information gleaned out of market data such as price, volume, open interest etc. A neutrosophic model of risk classification is proposed ? neutrosophic logic being a new branch of mathematical logic which allows for a three-way generalization of binary fuzzy logic by considering a third, neutral state in between the high and low states associated with binary logic circuits. A plausible application of the postulated model is proposed in reconciliation of price discrepancies in the long-term options market where the only source of resolvable risk is the long-term implied volatility. The chapter postulates that inherent imprecision in the way market information is subjectively processed by psycho-cognitive factors governing human decision-making actually contributes to the creation of heightened risk appraisals. Such heightened notions of perceived risk make investors predisposed in favor of safe investments even when pure economic reasoning may not entirely warrant such a choice. To deal with this information fusion problem a new combination rule has been proposed - the Dezert-Smarandache combination rule of paradoxist sources of evidence, which looks for the basic probability assignment or bpa denoted as m (.) = m1 (.) (+) m2 (.) that maximizes the joint entropy of the two information sources.


Measuring Utility

Measuring Utility
Author: Ivan Moscati
Publisher: Oxford Studies in History of E
Total Pages: 345
Release: 2018-11-22
Genre: Business & Economics
ISBN: 0199372764

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Utility is a key concept in the economics of individual decision-making. However, utility is not measurable in a straightforward way. As a result, from the very beginning there has been debates about the meaning of utility as well as how to measure it. This book is an innovative investigation of how these arguments changed over time. Measuring Utility reconstructs economists' ideas and discussions about utility measurement from 1870 to 1985, as well as their attempts to measure utility empirically. The book brings into focus the interplay between the evolution of utility analysis, economists' ideas about utility measurement, and their conception of what measurement in general means. It also explores the relationships between the history of utility measurement in economics, the history of the measurement of sensations in psychology, and the history of measurement theory in general. Finally, the book discusses some methodological problems related to utility measurement, such as the epistemological status of the utility concept and its measures. The first part covers the period 1870-1910, and discusses the issue of utility measurement in the theories of Jevons, Menger, Walras and other early utility theorists. Part II deals with the emergence of the notions of ordinal and cardinal utility during the period 1900-1945, and discusses two early attempts to give an empirical content to the notion of utility. Part III focuses on the 1945-1955 debate on utility measurement that was originated by von Neumann and Morgenstern's expected utility theory (EUT). Part IV reconstructs the experimental attempts to measure the utility of money between 1950 and 1985 within the framework provided by EUT. This historical and epistemological overview provides keen insights into current debates about rational choice theory and behavioral economics in the theory of individual decision-making and the philosophy of economics.


Utility Corporations

Utility Corporations
Author: United States. Federal Trade Commission
Publisher:
Total Pages: 1054
Release: 1936
Genre: Electric industries
ISBN:

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The Virtual Utility

The Virtual Utility
Author: Shimon Awerbuch
Publisher: Springer Science & Business Media
Total Pages: 407
Release: 2012-12-06
Genre: Business & Economics
ISBN: 1461561671

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In the winter of 1996, after 4 years of planning and research, the Symposium on the Virtual Utility was held in Saratoga Springs, New York. It was sponsored by Niag ara Mohawk Power Corporation, Co-sponsored by CSC Index and the New York State Energy Research and Development Authority and hosted by Rensselaer Poly technic Institute, Troy, NY. The symposium sought to identify new areas of inquiry by presenting cutting-edge academic and practitioner research intended to further our understanding of the strategic, technologically-driven issues confronting the elec tricity production and distribution process. The program sought to offer new in sights into rapid changes in the utility industry, in part, by examining analogues from manufacturing and telecommunications. In addition to identifying new research areas, the symposium yielded a number of important findings and conclusions. This volume contains the presented papers of the meeting, the discussant reports and two special papers prepared by the meet ing rapporteurs who performed superbly in analyzing, synthesizing, explaining and generally bringing a cohesive perspective to the interesting yet complex set of ideas presented at this unique meeting. We would like to acknowledge the people and organizations that contributed to this effort. We thank Niagara Mohawk Power Corporation and Albert Budney, its President & Chief Operating Officer for sponsoring this project, and Andrew Vesey, Vice President, I whose vision, support and championing made this project possible.


Utility Benchmarking and Regulation in Developing Countries

Utility Benchmarking and Regulation in Developing Countries
Author: Silver Mugisha
Publisher: IWA Publishing
Total Pages: 211
Release: 2011-05-14
Genre: Science
ISBN: 1843392577

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Utility performance, especially in developing countries is still working toward the standard necessary to deliver best practice. Utility Benchmarking and Regulation in Developing Countries examines performance monitoring and regulation as a prominent efficiency enhancement tool and clarifies many of the unknowns regarding the design and approach surrounding the area of utility management. Principles and practices are linked in a way that is informative and accessible, highlighting the challenges facing those who are trying to improve performance in the water sector. Operational settings are complex and unpredictable in developing countries due to inadequate infrastructure planning and this book makes clear which systems work best in these situations. Utility Benchmarking and Regulation in Developing Countries discusses performance monitoring in the critical areas of utility management that achieve sustainable performance goals: Performance development planning Modes of performance monitoring Provocative approaches to incentives creation Monitoring through high incentive plans Customer relations monitoring Pro-poor oriented monitoring Careful use of partial performance indicators Proposed indicators for assessing governance incentives A case study on the National Water and Sewerage Corporation, Uganda is included in the book detailing the difficulties in discerning performance progress based on partial performance indicators. It underlines disparities in basing performance conclusions on partial performance indicators on one hand and aggregate analysis using modern benchmarking toolkits on the other. This is an excellent handbook for utility monitors or regulators whose primary duty is to oversee performance management. It is a valuable resource for decision-makers, analysts, and policy-makers and can be used in capacity-building programs (both in-house and in universities) around the world.


Idothea

Idothea
Author: Joseph Salyards
Publisher: BoD – Books on Demand
Total Pages: 313
Release: 2023-10-17
Genre: Fiction
ISBN: 3368838369

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Reprint of the original, first published in 1874.


Risk Conundrums

Risk Conundrums
Author: Roger E Kasperson
Publisher: Taylor & Francis
Total Pages: 276
Release: 2017-07-14
Genre: Business & Economics
ISBN: 131735348X

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A risk conundrum can be viewed as a risk that poses major issues in assessment, and whose management is not easily engaged. Such perplexing problems can either paralyze or badly delay risk analysis and directions for progression. Rather than simply focusing on the progress in risk analysis that has already been made, it is crucial to consider what has been learnt about these seemingly unmanageable problems and how best to move forward. Risk Conundrums seeks to answer this question by bringing together a range of key thinkers in the field to explore key issues such as risk communication, uncertainty, social trust, indicators and metrics, and risk management, drawing upon case study examples including natural disasters, terrorism, and energy transitions. The initial chapters address risk conundrums, their properties, and the challenges they pose. The book then turns to a greater emphasis on systemic and regional risk conundrums. Finally, it considers how risk management can be changed to address these unsolvable conundrums. Alternative pathways are defined and scrutinized and predictions for future developments set out. This book will be of great interest to students and scholars of risk governance, environmental policy, and sustainable development.


Public Utility Holding Companies

Public Utility Holding Companies
Author: United States. Congress. House. Committee on Interstate and Foreign Commerce
Publisher:
Total Pages: 748
Release: 1935
Genre: Holding companies
ISBN:

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Beyond Decommissioning

Beyond Decommissioning
Author: Michele Laraia
Publisher: Woodhead Publishing
Total Pages: 393
Release: 2019-06-08
Genre: Technology & Engineering
ISBN: 008102875X

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Beyond Decommissioning: The Reuse and Redevelopment of Nuclear Installations presents the most up-to-date research and guidance on the reuse and redevelopment of nuclear plants and sites. Consultant Michele Laraia extensively builds upon experience from the redevelopment of non-nuclear industrial sites, a technical field that has considerably predated nuclear applications, to help the reader gain a very thorough and practical understanding of the redevelopment opportunities for decommissioned nuclear sites. Laraia emphasizes the socioeconomic and financial benefits from very early planning for site reuse, including how to manage the decommissioning transition, anticipate financial issues, and effectively utilize available resources. With an increasing number of decommissioning projects being conducted worldwide, it is critical that knowledge gained by experts with hands-on experience is passed on to the younger generation of nuclear professionals. Besides, this book describes the experiences of non-nuclear organizations that have reutilized the human, financial, and physical site assets, with adaptations, for a new productive mission, making it a key reference for all parties associated with nuclear operation and decommissioning. Those responsible for nuclear operation and decommissioning are encouraged to incorporate site reuse within an integrated, beginning-to-end view of their projects. The book also appeals to nuclear regulators as it highlights more opportunities to complete nuclear decommissioning safely, speedily, and in the best interests of all concerned parties. Includes lessons learned from worldwide case studies of reuse and repurposing of nuclear plants from both the nuclear and non-nuclear industries Provides practical guidance on a broad-spectrum of factors and opportunities for nuclear decommissioning Identifies the roles and responsibilities of parties involved, including nuclear operators, regulators and authorities, land planners and environmentalists