Relevant bibliographies by topics / Fundamental Theorem of Finance

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  1. Journal articles
  2. Dissertations / Theses
  3. Books
  4. Book chapters
  5. Conference papers
  6. Reports

Academic literature on the topic 'Fundamental Theorem of Finance'

Author: Grafiati
Published: 7 December 2024

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Journal articles on the topic "Fundamental Theorem of Finance"

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Brown, Martin, and Tomasz Zastawniak. "Fundamental Theorem of Asset Pricing under fixed and proportional transaction costs." Annals of Finance 16, no. 3 (May 26, 2020): 423–33. http://dx.doi.org/10.1007/s10436-020-00367-z.

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Chernyi, A. S. "The vector stochastic integral in the first fundamental theorem of the mathematics of finance." Russian Mathematical Surveys 53, no. 4 (August 31, 1998): 866–67. http://dx.doi.org/10.1070/rm1998v053n04abeh000062.

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Guasoni, Paolo, Miklós Rásonyi, and Walter Schachermayer. "The fundamental theorem of asset pricing for continuous processes under small transaction costs." Annals of Finance 6, no. 2 (December 9, 2008): 157–91. http://dx.doi.org/10.1007/s10436-008-0110-x.

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BIELECKI, TOMASZ R., IGOR CIALENCO, ISMAIL IYIGUNLER, and RODRIGO RODRIGUEZ. "DYNAMIC CONIC FINANCE: PRICING AND HEDGING IN MARKET MODELS WITH TRANSACTION COSTS VIA DYNAMIC COHERENT ACCEPTABILITY INDICES." International Journal of Theoretical and Applied Finance 16, no. 01 (February 2013): 1350002. http://dx.doi.org/10.1142/s0219024913500027.

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In this paper we present a theoretical framework for determining dynamic ask and bid prices of derivatives using the theory of dynamic coherent acceptability indices in discrete time. We prove a version of the First Fundamental Theorem of Asset Pricing using the dynamic coherent risk measures. We introduce the dynamic ask and bid prices of a derivative contract in markets with transaction costs. Based on these results, we derive a representation theorem for the dynamic bid and ask prices in terms of dynamically consistent sequence of sets of probability measures and risk-neutral measures. To illustrate our results, we compute the ask and bid prices of some path-dependent options using the dynamic Gain-Loss Ratio.
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Teeple, Keisuke. "Surprise and default in general equilibrium." Theoretical Economics 18, no. 4 (2023): 1547–83. http://dx.doi.org/10.3982/te4943.

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I model an incomplete markets economy where unaware agents do not perceive all states of nature, so unintended default can occur when asset returns differ from what was perceived. The presence of default plays a crucial role in the proof of existence—particularly in economies where beliefs are biased—by removing perceived arbitrage opportunities with respect to delivery‐adjusted asset returns. The First Fundamental Welfare Theorem fails because of default and pecuniary inefficiencies, but the Second Fundamental Welfare Theorem holds for economies with no aggregate risk. Welfare is shown to not necessarily be monotonic in discovery or the increasing of awareness.
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ALLAJ, ERINDI. "IMPLICIT TRANSACTION COSTS AND THE FUNDAMENTAL THEOREMS OF ASSET PRICING." International Journal of Theoretical and Applied Finance 20, no. 04 (April 27, 2017): 1750024. http://dx.doi.org/10.1142/s0219024917500248.

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This paper studies arbitrage pricing theory in financial markets with implicit transaction costs. We extend the existing theory to include the more realistic possibility that the price at which the investors trade is dependent on the traded volume. The investors in the market always buy at the ask and sell at the bid price. Implicit transaction costs are composed of two terms, one is able to capture the bid-ask spread, and the second the price impact. Moreover, a new definition of a self-financing portfolio is obtained. The self-financing condition suggests that continuous trading is possible, but is restricted to predictable trading strategies having cádlág (right-continuous with left limits) and cáglád (left-continuous with right limits) paths of bounded quadratic variation and of finitely many jumps. That is, cádlág and cáglád predictable trading strategies of infinite variation, with finitely many jumps and of finite quadratic variation are allowed in our setting. Restricting ourselves to cáglád predictable trading strategies, we show that the existence of an equivalent probability measure is equivalent to the absence of arbitrage opportunities, so that the first fundamental theorem of asset pricing (FFTAP) holds. It is also shown that the use of continuous and bounded variation trading strategies can improve the efficiency of hedging in a market with implicit transaction costs. To better understand how to apply the theory proposed we provide an example of an implicit transaction cost economy that is linear and nonlinear in the order size.
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Acciaio, B., M. Beiglböck, F. Penkner, and W. Schachermayer. "A MODEL-FREE VERSION OF THE FUNDAMENTAL THEOREM OF ASSET PRICING AND THE SUPER-REPLICATION THEOREM." Mathematical Finance 26, no. 2 (December 6, 2013): 233–51. http://dx.doi.org/10.1111/mafi.12060.

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ALLEN, DOUGLAS W. "The Coase theorem: coherent, logical, and not disproved." Journal of Institutional Economics 11, no. 2 (February 28, 2014): 379–90. http://dx.doi.org/10.1017/s1744137414000083.

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Abstract:There exists a long line of challengers to the ‘Coase Theorem’. All of these rest on fundamental misconceptions of property rights, transaction costs, and their interaction. Here I examine two attacks that have gone unchallenged: one by Halpin, the other by Usher. I argue that both, in failing to either use or understand an adequate definition of transaction costs, fail to deliver a fatal blow to Coase's famous idea.
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FRAHM, GABRIEL. "CORRIGENDUM: “PRICING AND VALUATION UNDER THE REAL-WORLD MEASURE”." International Journal of Theoretical and Applied Finance 21, no. 04 (June 2018): 1892001. http://dx.doi.org/10.1142/s0219024918920012.

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In order to prove the third fundamental theorem of asset pricing for financial markets with infinite lifetime [G. Frahm (2016) Pricing and valuation under the real-world measure, International Journal of Theoretical and Applied Finance 19, 1650006], we shall assume that the discounted price process is locally bounded. Otherwise, some principal results developed by [F. Delbaen & W. Schachermayer (1997) The Banach space of workable contingent claims in arbitrage theory, Annales de l’Institut Henri Poincaré 1, 114–144] cannot be applied.
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Vazifedan, Mehdi, and Qiji Jim Zhu. "No-Arbitrage Principle in Conic Finance." Risks 8, no. 2 (June 19, 2020): 66. http://dx.doi.org/10.3390/risks8020066.

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In a one price economy, the Fundamental Theorem of Asset Pricing (FTAP) establishes that no-arbitrage is equivalent to the existence of an equivalent martingale measure. Such an equivalent measure can be derived as the normal unit vector of the hyperplane that separates the attainable gain subspace and the convex cone representing arbitrage opportunities. However, in two-price financial models (where there is a bid–ask price spread), the set of attainable gains is not a subspace anymore. We use convex optimization, and the conic property of this region to characterize the “no-arbitrage” principle in financial models with the bid–ask price spread present. This characterization will lead us to the generation of a set of price factor random variables. Under such a set, we can find the lower and upper bounds (supper-hedging and sub-hedging bounds) for the price of any future cash flow. We will show that for any given cash flow, for which the price is outside the above range, we can build a trading strategy that provides one with an arbitrage opportunity. We will generalize this structure to any two-price finite-period financial model.
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Dissertations / Theses on the topic "Fundamental Theorem of Finance"

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Gallo, Andrea. "The Kolmogorov Operator and its Applications in Finance." Bachelor's thesis, Alma Mater Studiorum - Università di Bologna, 2017. http://amslaurea.unibo.it/13815/.

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Nella tesi parliamo di una classe di operatori differenziali alle derivate parziali. In particolar modo dell'operatore di Kolmogorov, operatore degenere ma, grazie al celebre Teorema di Hormander, ipoellittico. Nei primi tre capitoli presentiamo una beve introduzione alla teoria dei gruppi di Lie stratificati, mostrandone alcune proprietà, in cui rientrano anche i K-gruppi dove incontriamo l'operatore di Kolmogorov. Nel quarto capitolo grande spazio è dato all'applicazione finanziaria del lavoro: la soluzione di un problema di Cauchy con l'equazione di Kolmogorov è il prezzo d'arbitraggio di un'opzione asiatica con media geometrica. Nella parte finale della tesi mostriamo una formula di rappresentazione delle soluzioni dell'equazione di Kolmogorov usando la soluzione fondamentale.
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Shibalovich, Paul. "Fundamental theorem of algebra." CSUSB ScholarWorks, 2002. https://scholarworks.lib.csusb.edu/etd-project/2203.

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The fundamental theorem of algebra (FTA) is an important theorem in algebra. This theorem asserts that the complex field is algebracially closed. This thesis will include historical research of proofs of the fundamental theorem of algebra and provide information about the first proof given by Gauss of the theorem and the time when it was proved.
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Singh, Jesper. "On the fundamental theorem of calculus." Thesis, Umeå universitet, Institutionen för matematik och matematisk statistik, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-103809.

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The Riemann integral has many flaws, some that becomes visible in the fundamental theorem of calculus. The main point of this essay is to introduce the gauge integral, and prove a much more suitable version of that theorem.
Riemannintegralen har många brister. Vissa utav dessa ser man i integralkalkylens huvudsats. Huvudmålet med denna uppsats är att introducera gauge integralen och visa en mer lämplig version av huvudsatsen.
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Backwell, Alex. "Recovery theorem: expounded and applied." Master's thesis, University of Cape Town, 2014. http://hdl.handle.net/11427/8531.

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This dissertation is concerned with Ross' (2011) Recovery Theorem. It is generally held that a forward-looking probability distribution is unobtainable from derivative prices, because the market's risk-preferences are conceptually inextricable from the implied real-world distribution. Ross' result recovers this distribution without making the strong preference assumptions assumed necessary under the conventional paradigm. This dissertation aims to give the reader a thorough understanding of Ross Recovery, both from a theoretical and practical point of view. This starts with a formal delineation of the model and proof of the central result, motivated by the informal nature of Ross' working paper. This dissertation relaxes one of Ross' assumptions and arrives at the equivalent conclusion. This is followed by a critique of the model and assumptions. An a priori discussion only goes so far, but potentially problematic assumptions are identified, chief amongst which being time additive preferences of a representative agent. Attention is then turned to practical application of the theorem. The author identifies a number of obstacles to applying the result { some of which are somewhat atypical and have not been directly addressed in the literature { and suggests potential solutions. A salient obstacle is calibrating a state price matrix. This leads to an implementation of Ross Recovery on the FTSE/JSE Top40. The suggested approach is found to be workable, though certainly not the final word on the matter. A testing framework for the model is discussed and the dissertation is concluded with a consideration of the findings and the theorem's applicability.
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McCallum, Rupert Gordon Mathematics &amp Statistics Faculty of Science UNSW. "Generalisations of the fundamental theorem of projective geometry." Publisher:University of New South Wales. Mathematics & Statistics, 2009. http://handle.unsw.edu.au/1959.4/43385.

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The fundamental theorem of projective geometry states that a mapping from a projective space to itself whose range has a sufficient number of points in general position is a projective transformation possibly combined with a self-homomorphism of the underlying field. We obtain generalisations of this in many directions, dealing with the case where the mapping is only defined on an open subset of the underlying space, or a subset of positive measure, and dealing with many different spaces over many different rings.
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Cohen, Jeremy S. (Jeremy Stein) 1975. "Implementation and application of the fundamental theorem of probability." Thesis, Massachusetts Institute of Technology, 1998. http://hdl.handle.net/1721.1/46277.

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Thesis (M.Eng. and S.B.)--Massachusetts Institute of Technology, Dept. of Electrical Engineering and Computer Science, 1998.
Includes bibliographical references (leaves 64-65).
The "RIK" (Reasoning with Incomplete Knowledge) algorithm, a mathematical programming based algorithm for performing probabilistic inference on (possibly) incompletely specified systems of discrete events is reviewed and implemented. Developed by Myers, Freund, and Kaufman, it is a tractable reformulation of the computational approach implicit to the Fundamental Theorem of Probability as stated by De Finetti and extended by Lad, Dickey and Rahman. Enhancements to the original algorithm are presented and several applications of the algorithm to real-world systems including fault trees and belief networks are explored. The system is solved successfully for moderately large problems, providing practical information for system designers coping with uncertainty.
by Jeremy S. Cohen.
M.Eng.and S.B.
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Hayes, Mark Gerard. "Investment and finance under fundamental uncertainty." Thesis, University of Sunderland, 2003. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.275518.

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Delbaen, Freddy, and Walter Schachermayer. "The fundamental theorem of asset pricing for unbounded stochastic processes." SFB Adaptive Information Systems and Modelling in Economics and Management Science, WU Vienna University of Economics and Business, 1999. http://epub.wu.ac.at/850/1/document.pdf.

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The Fundamental Theorem of Asset Pricing states - roughly speaking - that the absence of arbitrage possibilities for a stochastic process S is equivalent to the existence of an equivalent martingale measure for S. It turns out that it is quite hard to give precise and sharp versions of this theorem in proper generality, if one insists on modifying the concept of "no arbitrage" as little as possible. It was shown in [DS94] that for a locally bounded R^d-valued semi-martingale S the condition of No Free Lunch with Vanishing Risk is equivalent to the existence of an equivalent local martingale measure for the process S. It was asked whether the local boundedness assumption on S may be dropped. In the present paper we show that if we drop in this theorem the local boundedness assumption on S the theorem remains true if we replace the term equivalent local martingale measure by the term equivalent sigma-martingale measure. The concept of sigma-martingales was introduced by Chou and Emery - under the name of "semimartingales de la classe (Sigma_m)". We provide an example which shows that for the validity of the theorem in the non locally bounded case it is indeed necessary to pass to the concept of sigma-martingales. On the other hand, we also observe that for the applications in Mathematical Finance the notion of sigma-martingales provides a natural framework when working with non locally bounded processes S. The duality results which we obtained earlier are also extended to the non locally bounded case. As an application we characterize the hedgeable elements. (author's abstract)
Series: Report Series SFB "Adaptive Information Systems and Modelling in Economics and Management Science"
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Bartolini, Gabriel. "On Poicarés Uniformization Theorem." Thesis, Linköping University, Department of Mathematics, 2006. http://urn.kb.se/resolve?urn=urn:nbn:se:liu:diva-7968.

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A compact Riemann surface can be realized as a quotient space $\mathcal{U}/\Gamma$, where $\mathcal{U}$ is the sphere $\Sigma$, the euclidian plane $\mathbb{C}$ or the hyperbolic plane $\mathcal{H}$ and $\Gamma$ is a discrete group of automorphisms. This induces a covering $p:\mathcal{U}\rightarrow\mathcal{U}/\Gamma$.

For each $\Gamma$ acting on $\mathcal{H}$ we have a polygon $P$ such that $\mathcal{H}$ is tesselated by $P$ under the actions of the elements of $\Gamma$. On the other hand if $P$ is a hyperbolic polygon with a side pairing satisfying certain conditions, then the group $\Gamma$ generated by the side pairing is discrete and $P$ tesselates $\mathcal{H}$ under $\Gamma$.

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Lacaussade, Charles-Thierry. "Evaluation d'actifs financiers et frictions de marché." Electronic Thesis or Diss., Université Paris sciences et lettres, 2024. http://www.theses.fr/2024UPSLD021.

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Cette thèse vise à fournir des méthodes théoriques et empiriques innovantes dans le cadre de l'évaluation des actifs financiers aux chercheurs en économie, aux teneurs de marché et aux différents acteurs de marché, dont les courtiers, les négociants, les gestionnaires d'actifs et les régulateurs. Nous proposons une extension du théorème fondamental de l'évaluation des actifs (FTAP) adaptée aux marchés présentant des frictions financières. Par conséquent, nos méthodes d'évaluation des actifs permettent d'obtenir un système de prix présentant des bid-ask spreads (écarts entre le prix d’achat et de vente), tels qu'ils sont observés sur les marchés financiers ce qui les rendent plus facilement interprétables. Dans le premier chapitre, nous introduisons deux théorèmes de représentation pour l'évaluation des actifs financiers sur les marchés à deux dates, en tenant compte d'une variété de frictions financières (coûts de transaction, taxes, frais de commission). Ce résultat repose sur une nouvelle condition d'absence d'arbitrage adaptée au marché avec frictions financières, qui prend en compte les stratégies potentielles d'achat et de vente. En outre, ces modèles d'évaluation des actifs reposent tous deux sur des mesures de probabilité non additives. Le premier modèle est une règle de prix de Choquet, pour laquelle nous proposons un cas particulier adapté à la calibration, et le second est une règle d'évaluation à priors multiples. Dans le deuxième chapitre, en vue de généraliser nos modèles d'évaluation des actifs, nous fournissons les conditions nécessaires et suffisantes pour des règles de prix de Choquet en multi-périodes caractérisées notamment par l’existence des bid-ask spreads. Nous montrons qu'il est possible de modéliser un problème de tarification dynamique sur plusieurs périodes par un problème de tarification sur une période lorsque la filtration est sans friction, ce qui est équivalent à supposer la propriété de martingale, qui est équivalente à supposer la cohérence des prix. Enfin, dans le troisième chapitre, nous présentons l'axiomatisation d'une classe particulière de règles de prix de Choquet, à savoir les règles de tarification dépendantes du rang qui supposent aussi l'absence d'arbitrage et la parité put-call (entre les options de vente et les options d'achat). Les règles de prix dépendantes du rang ont l'avantage d'être facilement calibrées car la mesure de probabilité non additive prend la forme de la probabilité objective distordue. Nous proposons donc une étude empirique de ces règles de prix dépendantes du rang par le biais d'une calibration paramétrique sur des données de marché afin d'explorer l'impact des frictions financières sur les prix. Nous étudions également la validité empirique de la parité put-call. En outre, nous étudions l'impact du délai d'expiration (valeur temps) et de la moneyness (valeur intrinsèque) sur la forme de la fonction de distorsion. Nous trouvons que les règles de prix dépendantes du rang qui en résultent sont toujours plus précises que la règle de référence (FTAP). Enfin, nous établissons un lien entre les frictions du marché et l'aversion au risque du marché
This thesis aims to provide innovative theoretical and empirical methods for valuing securities to economics researchers, market makers, and participants, including brokers, dealers, asset managers, and regulators. We propose an extension of the Fundamental Theorem of Asset Pricing (FTAP) tailored to markets with financial frictions. Hence, our asset pricing methodologies allow for more tractable bid and ask prices, as observed in the financial market. This thesis provides both theoretical models and an empirical application of the pricing rule with bid-ask spreads.In our first chapter, we introduce two straightforward closed-form pricing expressions for securities in two-date markets, encompassing a variety of frictions (transaction cost, taxes, commission fees). This result relies on a novel absence of arbitrage condition tailored to the market with frictions considering potential buy and sell strategies. Furthermore, these asset pricing models both rely on non-additive probability measures. The first is a Choquet pricing rule, for which we offer a particular case adapted for calibration, and the second is a Multiple Priors pricing rule.In the second chapter, as a step toward generalizing our asset pricing models, we provide the necessary and sufficient conditions for multi-period pricing rules characterized by bid-ask spreads. We extend the multi-period version of the Fundamental Theorem of Asset Pricing by assuming the existence of market frictions. We show that it is possible to model a dynamic multi-period pricing problem with a one-stage pricing problem when the filtration is frictionless, which is equivalent to assuming the martingale property, which is equivalent to assuming price consistency.Finally, in the third chapter, we give the axiomatization of a particular class of Choquet pricing rule, namely Rank-Dependent pricing rules assuming the absence of arbitrage and put-call parity. Rank-dependent pricing rules have the appealing feature of being easily calibrated because the non-additive probability measure takes the form of a distorted objective probability. Therefore, we offer an empirical study of these Rank-Dependent pricing rules through a parametric calibration on market data to explore the impact of market frictions on prices. We also study the empirical validity of the put-call parity. Furthermore, we investigate the impact of time to expiration (time value) and moneyness (intrinsic value) on the shape of the distortion function. The resulting rank-dependent pricing rules always exhibit a greater accuracy than the benchmark (FTAP). Finally, we relate the market frictions to the market's risk aversion
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Books on the topic "Fundamental Theorem of Finance"

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Fine, Benjamin, and Gerhard Rosenberger. The Fundamental Theorem of Algebra. New York, NY: Springer New York, 1997. http://dx.doi.org/10.1007/978-1-4612-1928-6.

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Benjamin, Fine. The fundamental theorem of algebra. New York: Springer, 1997.

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National Institute of Public Finance and Policy (India), ed. The second fundamental theorem of positive economics. New Delhi: National Institute of Public Finance and Policy, 2012.

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Ross, Stephen A. Fundamentals of corporate finance. 5th ed. Boston: Irwin/McGraw-Hill, 2000.

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Ross, Stephen A. Fundamentals of corporate finance. 2nd ed. Homewood, IL: Irwin, 1993.

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Ross, Stephen A. Fundamentals of corporate finance. 6th ed. Boston, Mass: McGraw-Hill/Irwin, 2003.

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Ross, Stephen A. Fundamentals of corporate finance. 8th ed. Boston: McGraw-Hill/Irwin, 2008.

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Ross, Stephen A. Fundamentals of corporate finance. 6th ed. Boston, Mass: McGraw-Hill/Irwin, 2003.

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Ross, Stephen A. Fundamentals of corporate finance. 4th ed. Boston: Irwin/McGraw-Hill, 1998.

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Ross, Stephen A. Fundamentals of corporate finance. 4th ed. Boston, Mass: Irwin/McGraw-Hill, 1998.

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Book chapters on the topic "Fundamental Theorem of Finance"

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Elliott, Robert J., and P. Ekkehard Kopp. "The Fundamental Theorem of Asset Pricing." In Springer Finance, 45–61. New York, NY: Springer New York, 1999. http://dx.doi.org/10.1007/978-1-4757-7146-6_3.

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Johnson, Timothy. "The Fundamental Theorem of Asset Pricing." In Ethics in Quantitative Finance, 221–44. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-61039-9_11.

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Kardaras, Constantinos. "Finitely Additive Probabilities and the Fundamental Theorem of Asset Pricing." In Contemporary Quantitative Finance, 19–34. Berlin, Heidelberg: Springer Berlin Heidelberg, 2010. http://dx.doi.org/10.1007/978-3-642-03479-4_2.

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Dybvig, H., and S. A. Ross. "The Fundamental Theorems of Asset Pricing." In Mathematical Finance and Probability, 191–99. Basel: Birkhäuser Basel, 2003. http://dx.doi.org/10.1007/978-3-0348-8041-1_11.

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Frittelli, Marco, and Peter Lakner. "Arbitrage and Free Lunch in a General Financial Market Model; The Fundamental Theorem of Asset Pricing." In Mathematical Finance, 89–92. New York, NY: Springer New York, 1995. http://dx.doi.org/10.1007/978-1-4757-2435-6_7.

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McClain, William Martin. "The fundamental theorem." In Symmetry Theory in Molecular Physics with Mathematica, 73–79. New York, NY: Springer New York, 2009. http://dx.doi.org/10.1007/b13137_7.

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Packel, Ed, and Stan Wagon. "The Fundamental Theorem." In Animating Calculus, 115–25. New York, NY: Springer New York, 1997. http://dx.doi.org/10.1007/978-1-4612-2408-2_11.

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Edwards, Harold M. "A Fundamental Theorem." In Essays in Constructive Mathematics, 13–45. Cham: Springer International Publishing, 2022. http://dx.doi.org/10.1007/978-3-030-98558-5_1.

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König, Steffen. "Rickard's fundamental theorem." In Lecture Notes in Mathematics, 33–50. Berlin, Heidelberg: Springer Berlin Heidelberg, 1998. http://dx.doi.org/10.1007/bfb0096369.

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Borgstede, Matthias. "Fisher’s Fundamental Theorem." In Encyclopedia of Sexual Psychology and Behavior, 1–4. Cham: Springer International Publishing, 2023. http://dx.doi.org/10.1007/978-3-031-08956-5_994-1.

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Conference papers on the topic "Fundamental Theorem of Finance"

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Stepanova, Maria. "APPLYING KOLMOGOROV COMPLEXITY FOR HIGH LOAD BALANCING BETWEEN DISTRIBUTED COMPUTING SYSTEM NODES." In eLSE 2019. Carol I National Defence University Publishing House, 2019. http://dx.doi.org/10.12753/2066-026x-19-050.

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Nowadays there is a huge growth of massive amount of data generated by different sources at real time or near real time. Generally data is heterogeneous by its content and exists at every human sphere such as education, government, finance, medicine and so on. This paper is about the possibility to use the Kolmogorov complexity as a technological innovation in such an area as engineering education. The Introduction section describes fundamental issues (data storage, data security and high speed access to data) from the point of view of software for teaching's choose. The first part of the paper related to infrastructure's development rules. Second part compares two ways of problems' decision: supercomputer and distributed computing systems according to expenses criterion. It is shown that last way applying allows to assign and handle operations on homogeneous or heterogeneous nodes with less expenses compared to supercomputers. However data and operation partition and distribution among nodes could be a challenge by itself - the third part of the paper is about it. Furthermore, nodes interaction can cause significant difficulties as generally distributed systems consist of great number of nodes which could be constant in quantity or constantly growing. In practice, most systems should be scalable due to incessant data growth and tasks for processing that means that any system needs to meet with such circumstances and not to be limited by constant number of nodes. Fours part of this article analyses the possibility of using Kolmogorov complexity for optimal way of data dividing and processing in distributed computing systems without quantity nodes limitations. The last part describes the theory investigation on how this fundamentals of distributed systems could be beneficial to eLearning technology in universities and business companies. In Conclusion the advantages and disadvantages of Kolmogorov complexity were considered applying to eLearning study aims.
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Hou, Bo, Zilong Zhang, and Bingling Cai. "The Fundamental Theorem of Entwined Modules." In 2009 International Conference on Computational Intelligence and Software Engineering. IEEE, 2009. http://dx.doi.org/10.1109/cise.2009.5365484.

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CHEN, WEI. "IDEOLOGICAL AND POLITICAL THEORIES TEACHING IN COMPREHENSIVE BUSINESS ENGLISH TEACHING." In 2021 International Conference on Education, Humanity and Language, Art. Destech Publications, Inc., 2021. http://dx.doi.org/10.12783/dtssehs/ehla2021/35735.

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Comprehensive Business English course is a comprehensive language practice skills course, which integrates English language knowledge, communication ability, cultural background knowledge and business knowledge. By imitating English materials in different kinds of business and cultural scenes, students can get familiar with English expression habits, cultivate English critical thinking and master fundamental English oral expression ability; by learning different subjects, students' vocabulary and discourse reading comprehension ability are to be enhanced and the basic discourse expression ability and a good foundation for the third and fourth grade English learning are to be improved. Our university, Shandong Institute of Business and Technology, is a university of finance and economics with the striking characteristic of wealth management. We have the integration and development of students’ business English. Comprehensive business English is a compulsory course for the first and second year of business English majors, with small classes about 30 students in each. The courses for English majors are all business-related, most of them aim to work in business-related fields or study for master degree domestically or overseas after graduation. Business-English teaching aims to cultivate students with strengthened basic English listening, speaking, reading, writing and translation skills, relevant theories and knowledge of linguistics, economics, management and other studies, business operation mode and norms, good moral cultivation, social adaptability and innovation ability, and finally and most possibly the Applied Business English professionals. This paper, designed on the study and introduction of the present ideological and political theories teaching of Comprehensive Business English, is to discuss about the application of ideological and political teaching in the very basic course for Business English majors. By finding the ideological and political teaching topics and resources, it is to discover the proper, positive and critical means of applying theories in practice.
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Wolf, Emil. "On the fundamental theorem of diffraction tomography." In 16th Congress of the International Commission for Optics: Optics as a Key to High Technology. SPIE, 1993. http://dx.doi.org/10.1117/12.2308674.

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Leng, Shukun, Dakai Guo, and Wensheng Yu. "Formalization of Dedekind Fundamental Theorem in Coq." In 2023 China Automation Congress (CAC). IEEE, 2023. http://dx.doi.org/10.1109/cac59555.2023.10450761.

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Hu, Ping, Kenneth W. Shum, and Chi Wan Sung. "The fundamental theorem of distributed storage systems revisited." In 2014 IEEE Information Theory Workshop (ITW). IEEE, 2014. http://dx.doi.org/10.1109/itw.2014.6970793.

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Mirin, Alison. "Function identity and the fundamental theorem of calculus." In 42nd Meeting of the North American Chapter of the International Group for the Psychology of Mathematics Education. PMENA, 2020. http://dx.doi.org/10.51272/pmena.42.2020-187.

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Sivanesan, Vishagan. "A No Go Theorem for Gallileon like ``Odd P-Forms''." In Frontiers of Fundamental Physics 14. Trieste, Italy: Sissa Medialab, 2016. http://dx.doi.org/10.22323/1.224.0198.

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Kliber, Pawel, and Anna Rutkowska-Ziarko. "AN ALGORITHM FOR CONSTRUCTION OF A PORTFOLIO WITH A FUNDAMENTAL CRITERION." In 11th Economics & Finance Conference, Rome. International Institute of Social and Economic Sciences, 2019. http://dx.doi.org/10.20472/efc.2019.011.009.

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Falkensteiner, Sebastian, Cristhian Garay-López, Mercedes Haiech, Marc Paul Noordman, Zeinab Toghani, and François Boulier. "The fundamental theorem of tropical partial differential algebraic geometry." In ISSAC '20: International Symposium on Symbolic and Algebraic Computation. New York, NY, USA: ACM, 2020. http://dx.doi.org/10.1145/3373207.3404040.

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Reports on the topic "Fundamental Theorem of Finance"

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Beck, Thorsten. Long-term Finance in Latin America: A Scoreboard Model. Inter-American Development Bank, August 2016. http://dx.doi.org/10.18235/0007018.

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Theory and empirical work have shown that long-term finance is critical for households, firms and government and for the overall development of the economy. The development of efficient and sustainable long-term financial markets, however, depends on macroeconomic stability and an effective institutional framework. Policy initiatives, including tax policy, regulation and competition policies can also improve the availability of long-term finance within these more fundamental constraints. However, country characteristics including size and demographic structure also play an important role. When comparing the provision of long-term finance across countries, it is important to take into account both structural characteristics and long-term policy constraints. A scoreboard for long-term finance in Latin America is suggested with indicators comparing different dimensions of long-term finance. Specifically, the paper suggests several indicators of the depth and inclusiveness of long-term financial markets, to be benchmarked according to country characteristics, and several policy variables, to be included in a scoreboard for long-term finance in Latin America.
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L��pez Fern��ndez, Jorge M., and Omar A. Hern��ndez Rodr��guez. Teaching the Fundamental Theorem of Calculus: A Historical Reflection. Washington, DC: The MAA Mathematical Sciences Digital Library, January 2012. http://dx.doi.org/10.4169/loci003803.

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Alonso-Robisco, Andrés, José Manuel Carbó, and José Manuel Carbó. Machine Learning methods in climate finance: a systematic review. Madrid: Banco de España, February 2023. http://dx.doi.org/10.53479/29594.

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Preventing the materialization of climate change is one of the main challenges of our time. The involvement of the financial sector is a fundamental pillar in this task, which has led to the emergence of a new field in the literature, climate finance. In turn, the use of Machine Learning (ML) as a tool to analyze climate finance is on the rise, due to the need to use big data to collect new climate-related information and model complex non-linear relationships. Considering the proliferation of articles in this field, and the potential for the use of ML, we propose a review of the academic literature to assess how ML is enabling climate finance to scale up. The main contribution of this paper is to provide a structure of application domains in a highly fragmented research field, aiming to spur further innovative work from ML experts. To pursue this objective, first we perform a systematic search of three scientific databases to assemble a corpus of relevant studies. Using topic modeling (Latent Dirichlet Allocation) we uncover representative thematic clusters. This allows us to statistically identify seven granular areas where ML is playing a significant role in climate finance literature: natural hazards, biodiversity, agricultural risk, carbon markets, energy economics, ESG factors & investing, and climate data. Second, we perform an analysis highlighting publication trends; and thirdly, we show a breakdown of ML methods applied by research area.
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Lucas, Brian, Kathryn Cheeseman, and Nele Van Doninck. Transformative Change for Global Biodiversity: the Role of Gender Equality and Social Inclusion. Background Notes for the Wilton Park Conference, September 2024. Institute of Development Studies, October 2024. http://dx.doi.org/10.19088/k4dd.2024.058.

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This rapid evidence review provides a series of background notes to inform the Wilton Park conference on Transformative change for global biodiversity: the role of gender equality and social inclusion. The review includes notes for sessions on: Why biodiversity is a critical issue; Learning from inclusive and transformative biodiversity action; The barriers to achieving inclusive and transformative action for biodiversity; Championing the implementation of Target 22 and Target 23 as fundamental to achieving the goals of the Kunming-Montreal Global Biodiversity Framework and Inclusive biodiversity finance for transformative change.
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Taşdemir, Murat, Ethem Hakan Ergeç, Hüseyin Kaya, and Özer Selçuk. ECONOMY IN THE TURKEY OF THE FUTURE. İLKE İlim Kültür Eğitim Vakfı, December 2020. http://dx.doi.org/10.26414/gt010.

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Fundamental transformations await the world’s economies in the upcoming 20 years. For Turkey to be able to achieve its desired level of prosperity, current structural problems must be solved and preemptive policies must be developed regarding global developments. For Turkey to attain prosperous and virtuous society of the future, Turkey needs a sustainable, long-term, fast-growing economy based on social justice. The Economy in the Turkey of the Future report provides a holistic vision for achieving the infrastructure of the prosperous and virtuous society of the future. The report meticulously analyzes Turkey’s contemporary economy in the light of data and presents the necessary fields to focus on for the future and which kinds of policy ought to be handled with what kind of a perspective in accordance with the advantages and disadvantages. The report touches upon three global trends and their potential impact on national economies and Turkey. It then addresses social justice, sustainability, in the context of long-term economic growth, demographic dynamics and the workforce, Islamic finance, international trade, and sectors deemed strategic. The report focuses on the structural properties that determine the long-term economy rather than short-term economic fluctuations. Many of Turkey’s short-term problems arise from the lack of long-term policies. To this end, the report’s most important emphasis is on the need for long-term policies.
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Tello-Casas, Patrocinio. El papel de China como acreedor financiero internacional. Madrid: Banco de España, November 2024. http://dx.doi.org/10.53479/38299.

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La deuda pública de los países de ingresos bajos y medianos se sitúa en niveles históricamente elevados, lo que ha aumentado el número de países en riesgo de crisis de deuda soberana. Este aumento ha venido acompañado de un cambio importante en la composición de los acreedores internacionales, del que destaca el nuevo papel de China como un acreedor internacional relevante y, en ocasiones, como prestamista de último recurso. En este contexto, resulta de interés conocer no solo el volumen, sino también las características de la financiación concedida por las instituciones oficiales de China a otros países y los factores que condicionan sus decisiones de inversión. Para ello, en este documento se utiliza la base de datos de AidData, la Global Chinese Development Finance Dataset, que contiene información sobre los proyectos financiados por China en países de ingresos bajos y medianos durante el período 2000-2021. El análisis de esta información apunta a una elevada concentración del total de la financiación concedida por China en un número reducido de países, localizados en todos los continentes, y que presentan, en algunos casos, un riesgo elevado de afrontar una crisis de deuda soberana. China gestiona el riesgo de impago con la inclusión de garantías en sus contratos de préstamos. Asimismo, la financiación oficial de China se dirige principalmente a proyectos en los sectores de industria, minería y construcción y, más recientemente, en el sector de los servicios financieros mediante swaps de su banco central. Finalmente, la proximidad geopolítica con el país receptor desempeña un papel fundamental en la elección del destino de la financiación oficial por parte de China.
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