Relevant bibliographies by topics / Utility theory – Mathematical models

Academic literature on the topic 'Utility theory – Mathematical models'

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Published: 4 June 2021
Last updated: 29 January 2023

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Journal articles on the topic "Utility theory – Mathematical models"

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Servedio, Maria R., Yaniv Brandvain, Sumit Dhole, Courtney L. Fitzpatrick, Emma E. Goldberg, Caitlin A. Stern, Jeremy Van Cleve, and D. Justin Yeh. "Not Just a Theory—The Utility of Mathematical Models in Evolutionary Biology." PLoS Biology 12, no. 12 (December 9, 2014): e1002017. http://dx.doi.org/10.1371/journal.pbio.1002017.

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Gasparian, Mikhail Samuilovich, Irina Anatolievna Kiseleva, Valery Alexandrovich Titov, and Natalia Alekseevna Sadovnikova. "St. Petersburg paradox: adoption of decisions on the basis of data mining and development of software in the sphere of business analytics." Nexo Revista Científica 34, no. 04 (October 28, 2021): 1370–80. http://dx.doi.org/10.5377/nexo.v34i04.12676.

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This article is devoted to analysis of models of St. Petersburg paradox, as well as development of software in the sphere of business analysis. This work is based on mathematical models using theories of probability and games as well as expert survey method. It is demonstrated that the St. Petersburg paradox is a mathematical problem of probability theory with artificial conditions. The influence of this problem on economical theory is exemplified by such provisions as the principle of diminishing marginal utility, the use of expected utility as criterion of decision adoption in uncertain environment, as well as foundations of microeconomics of insurance and risk management, theory of games and some approaches to financial simulation. Adoption of decisions on the basis of the St. Petersburg paradox is analyzed. Review of main decisions of the St. Petersburg paradox and their influence for economic theory has confirmed that the St. Petersburg paradox as a mathematical problem can be used as mathematical model upon implementation of financial simulation. Comparative analysis of available BI solutions has confirmed that most of them propose all major functions, and significant differences can be revealed in penetration of expanded functions.
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Kim, S. H., and N. P. Suh. "Mathematical Foundations for Manufacturing." Journal of Engineering for Industry 109, no. 3 (August 1, 1987): 213–18. http://dx.doi.org/10.1115/1.3187121.

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For the field of manufacturing to become a science, it is necessary to develop general mathematical descriptions for the analysis and synthesis of manufacturing systems. Standard analytic models, as used extensively in the past, are ineffective for describing the general manufacturing situation due to their inability to deal with discontinuous and nonlinear phenomena. These limitations are transcended by algebraic models based on set structures. Set-theoretic and algebraic structures may be used to (1) express with precision a variety of important qualitative concepts such as hierarchies, (2) provide a uniform framework for more specialized theories such as automata theory and control theory, and (3) provide the groundwork for quantitative theories. By building on the results of other fields such as automata theory and computability theory, algebraic structures may be used as a general mathematical tool for studying the nature and limits of manufacturing systems. This paper shows how manufacturing systems may be modeled as automatons, and demonstrates the utility of this approach by discussing a number of theorems concerning the nature of manufacturing systems. In addition symbolic logic is used to formalize the Design Axioms, a set of generalized decision rules for design. The application of symbolic logic allows for the precise formulation of the Axioms and facilitates their interpretation in a logical programming language such as Prolog. Consequently, it is now possible to develop a consultive expert system for axiomatic design.
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Assaf, Matheus, and Pedro Garcia Duarte. "Utility Matters." History of Political Economy 52, no. 5 (October 1, 2020): 863–94. http://dx.doi.org/10.1215/00182702-8671855.

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The present-day standard textbook narrative on the history of growth theory usually takes Robert Solow’s 1956 contribution as a key starting point, which was extended by David Cass and Tjalling Koopmans in 1965 by introducing an intertemporal maximization problem that defines the saving ratio in the economy. However, the road connecting Solow to the Ramsey-Cass-Koopmans model is not so straightforward. We argue that in order to understand Koopmans’s contribution, we have to go to the activity analysis literature that started before Solow 1956 and never had him as a central reference. We stress the role played by Edmond Malinvaud, with whom Koopmans interacted closely, and take his travel from the French milieu of mathematical economics to the Cowles Commission in 1950-51 and back to France as a guiding line. The rise of turnpike theory in the end of the 1950s generated a debate on the choice criteria of growth programs, opposing the productive efficiency typical of these models to the utilitarian approach supported by Malinvaud and Koopmans. The Vatican Conference of 1963, where Koopmans presented a first version of his 1965 model, was embedded in this debate. We argue that Malinvaud’s (and Koopmans’s) contributions were crucial to steer the activity analysis literature toward a utilitarian analysis of growth paths.
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Jenkins, Porter, Ahmad Farag, J. Stockton Jenkins, Huaxiu Yao, Suhang Wang, and Zhenhui Li. "Neural Utility Functions." Proceedings of the AAAI Conference on Artificial Intelligence 35, no. 9 (May 18, 2021): 7917–25. http://dx.doi.org/10.1609/aaai.v35i9.16966.

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Current neural network architectures have no mechanism for explicitly reasoning about item trade-offs. Such trade-offs are important for popular tasks such as recommendation. The main idea of this work is to give neural networks inductive biases that are inspired by economic theories. To this end, we propose Neural Utility Functions, which directly optimize the gradients of a neural network so that they are more consistent with utility theory, a mathematical framework for modeling choice among items. We demonstrate that Neural Utility Functions can recover theoretical item relationships better than vanilla neural networks, analytically show existing neural networks are not quasi-concave and do not inherently reason about trade-offs, and that augmenting existing models with a utility loss function improves recommendation results. The Neural Utility Functions we propose are theoretically motivated, and yield strong empirical results.
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Ahmed, Asad, Osman Hasan, Falah Awwad, and Nabil Bastaki. "Formalization of Cost and Utility in Microeconomics." Energies 13, no. 3 (February 6, 2020): 712. http://dx.doi.org/10.3390/en13030712.

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Cost and utility modeling of economics agents based on the differential theory is fundamental to the analysis of the microeconomics models. In particular, the first and second-order derivative tests are used to specify the desired properties of the cost and utility models. Traditionally, paper-and-pencil proof methods and computer-based tools are used to investigate the mathematical properties of these models. However, these techniques do not provide an accurate analysis due to their inability to exhaustively specify and verify the mathematical properties of the cost and utility models. Additionally, these techniques cannot accurately model and analyze pure continuous behaviors of the economic agents due to the utilization of computer arithmetic. On the other hand, an accurate analysis is direly needed in many safety and cost-critical microeconomics applications, such as agriculture and smart grids. To overcome the issues pertaining to the above-mentioned techniques, in this paper, we propose a theorem proving based methodology to formally analyze and specify the mathematical properties of functions used in microeconomics modeling. The proposed methodology is primarily based on a formalization of the derivative tests and root analysis of the polynomial functions, within the sound core of the HOL-Light theorem prover. We also provide a formalization of the first-order condition, which is used to analyze the maximum of the profit function in a higher-order-logic theorem prover. We then present the formal analysis of the utility, cost and first-order condition based on the polynomial functions. To illustrate the usefulness of proposed formalization, the proposed formalization is used to formally analyze and verify the quadratic cost and utility functions, which have been used in an optimal power flow problem and demand response (DR) program, respectively.
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Fumagalli, Roberto. "THE FUTILE SEARCH FOR TRUE UTILITY." Economics and Philosophy 29, no. 3 (October 15, 2013): 325–47. http://dx.doi.org/10.1017/s0266267113000291.

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In traditional decision theory, utility is regarded as a mathematical representation of preferences to be inferred from agents’ choices. In the recent literature at the interface between economics, psychology and neuroscience, several authors argue that economists could develop more predictive and explanatory models by incorporating insights concerning individuals’ hedonic experiences. Some go as far as to contend that utility is literally computed by specific neural areas and urge economists to complement or substitute their notion of utility with some neuro-psychological construct. In this paper, I distinguish three notions of utility that are frequently mentioned in debates about decision theory and examine some critical issues regarding their definition and measurability. Moreover, I provide various empirical and conceptual reasons to doubt that economists should base decision theoretic analyses on some neuro-psychological notion of utility.
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Izsák, Andrew, Erik Jacobson, Zandra de Araujo, and Chandra Hawley Orrill. "Measuring Mathematical Knowledge for Teaching Fractions With Drawn Quantities." Journal for Research in Mathematics Education 43, no. 4 (July 2012): 391–427. http://dx.doi.org/10.5951/jresematheduc.43.4.0391.

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Researchers have recently used traditional item response theory (IRT) models to measure mathematical knowledge for teaching (MKT). Some studies (e.g., Hill, 2007; Izsák, Orrill, Cohen, & Brown, 2010), however, have reported subgroups when measuring middle-grades teachers' MKT, and such groups violate a key assumption of IRT models. This study investigated the utility of an alternative called the mixture Rasch model that allows for subgroups. The model was applied to middle-grades teachers' performance on pretests and posttests bracketing a 42-hour professional development course focused on drawn models for fraction arithmetic. Results from psychometric modeling and evidence from video-recorded interviews and professional development sessions suggested that there were 2 subgroups of middle-grades teachers, 1 better able to reason with 3-level unit structures and 1 constrained to 2-level unit structures. Some teachers, however, were easier to classify than others.
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Peng, Yichen, Jing Zhou, Qiang Xu, and Xiaoling Wu. "Cost Allocation in PPP Projects: An Analysis Based on the Theory of “Contracts as Reference Points”." Discrete Dynamics in Nature and Society 2014 (2014): 1–6. http://dx.doi.org/10.1155/2014/158765.

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In recent years, the demand for infrastructure has been largely driven by the economic development of many countries. PPP has proved to be an efficient way to draw private capital into public utility construction, where ownership allocation becomes one of the most important clauses to both the government and the private investor. In this paper, we establish mathematical models to analyze the equity allocation problem of PPP projects through a comparison of the models with and without the effects of the theory of “contracts as reference points.” We then derive some important conclusions from the optimal solution of the investment ratio.
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Ilyina, Elena A., and Leonid A. Saraev. "On the theory of optimization of transaction costs of multifactor manufacturing enterprises." Vestnik of Samara University. Economics and Management 12, no. 4 (December 30, 2021): 182–94. http://dx.doi.org/10.18287/2542-0461-2021-12-4-182-194.

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The published article proposes mathematical models for calculating the optimal profit of multifactorial manufacturing enterprises that incur both production (transformational) and certain non-production (transactional) costs, the sources of which may be forced costs of searching for economic information, measuring the parameters of various goods, negotiating and the conclusion of contracts, for the development of specifications and the protection of property rights, for the opportunistic behavior of employees and managers of the enterprise, etc. Anumerical analysis of the presented models for calculating the optimal profit of multifactor enterprises that bear transaction costs shows the unattainability of the maximum possible profit values, since in practice the enterprise management maximizes not the profit itself, but its utility, expressed in the form of the corresponding transaction function.
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Dissertations / Theses on the topic "Utility theory – Mathematical models"

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Lipscomb, Clifford Allen. "Resolving the aggregation problem that plagues the hedonic pricing method." Diss., Available online, Georgia Institute of Technology, 2004:, 2003. http://etd.gatech.edu/theses/available/etd-04082004-180317/unrestricted/lipscomb%5fclifford%5fa%5f200312%5fphd.pdf.

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Cook, Victoria Tracy 1960. "The effects of temporal uncertainty resolution on the overall utility and suspense of risky monetary and survival gambles /." Thesis, McGill University, 1989. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=75966.

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We extend Kreps and Porteus' (1978, 1979a,b) temporal utility theory to include measures of suspense for gambles that vary in the timing of uncertainty resolution. Our f$ sp t$-modification (of their theory) defines overall utility and suspense in terms of two functions: a standard utility function and an iterative function whose properties determine attitude towards temporal uncertainty resolution. Suspense, which is increasing with time delay to uncertainty resolution, is defined as the "variance" of the standard utilities of the outcome streams taken about our measure of overall utility (rather than about the standard mean utility). We explore the properties of our measures and their implications for the overall utility and suspense of various key examples. Two preliminary experiments are reported which give some support for our overall utility and suspense measures, and which suggest that risk and suspense are different concepts. Iteration theory is also discussed in some detail.
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Thompson, Stephanie C. "Rational design theory: a decision-based foundation for studying design methods." Diss., Georgia Institute of Technology, 2011. http://hdl.handle.net/1853/39490.

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While design theories provide a foundation for representing and reasoning about design methods, existing design theories do not explicitly include uncertainty considerations or recognize tradeoffs between the design artifact and the design process. These limitations prevent the existing theories from adequately describing and explaining observed or proposed design methods. In this thesis, Rational Design Theory is introduced as a normative theoretical framework for evaluating prescriptive design methods. This new theory is based on a two-level perspective of design decisions in which the interactions between the artifact and the design process decisions are considered. Rational Design Theory consists of normative decision theory applied to design process decisions, and is complemented by a decision-theory-inspired conceptual model of design. The application of decision analysis to design process decisions provides a structured framework for the qualitative and quantitative evaluation of design methods. The qualitative evaluation capabilities are demonstrated in a review of the systematic design method of Pahl and Beitz. The quantitative evaluation capabilities are demonstrated in two example problems. In these two quantitative examples, Value of Information analysis is investigated as a strategy for deciding when to perform an analysis to gather additional information in support of a choice between two design concepts. Both quantitative examples demonstrate that Value of Information achieves very good results when compared to a more comprehensive decision analysis that allows for a sequence of analyses to be performed.
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Heller, Collin M. "A computational model of engineering decision making." Thesis, Georgia Institute of Technology, 2013. http://hdl.handle.net/1853/50272.

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The research objective of this thesis is to formulate and demonstrate a computational framework for modeling the design decisions of engineers. This framework is intended to be descriptive in nature as opposed to prescriptive or normative; the output of the model represents a plausible result of a designer's decision making process. The framework decomposes the decision into three elements: the problem statement, the designer's beliefs about the alternatives, and the designer's preferences. Multi-attribute utility theory is used to capture designer preferences for multiple objectives under uncertainty. Machine-learning techniques are used to store the designer's knowledge and to make Bayesian inferences regarding the attributes of alternatives. These models are integrated into the framework of a Markov decision process to simulate multiple sequential decisions. The overall framework enables the designer's decision problem to be transformed into an optimization problem statement; the simulated designer selects the alternative with the maximum expected utility. Although utility theory is typically viewed as a normative decision framework, the perspective in this research is that the approach can be used in a descriptive context for modeling rational and non-time critical decisions by engineering designers. This approach is intended to enable the formalisms of utility theory to be used to design human subjects experiments involving engineers in design organizations based on pairwise lotteries and other methods for preference elicitation. The results of these experiments would substantiate the selection of parameters in the model to enable it to be used to diagnose potential problems in engineering design projects. The purpose of the decision-making framework is to enable the development of a design process simulation of an organization involved in the development of a large-scale complex engineered system such as an aircraft or spacecraft. The decision model will allow researchers to determine the broader effects of individual engineering decisions on the aggregate dynamics of the design process and the resulting performance of the designed artifact itself. To illustrate the model's applicability in this context, the framework is demonstrated on three example problems: a one-dimensional decision problem, a multidimensional turbojet design problem, and a variable fidelity analysis problem. Individual utility functions are developed for designers in a requirements-driven design problem and then combined into a multi-attribute utility function. Gaussian process models are used to represent the designer's beliefs about the alternatives, and a custom covariance function is formulated to more accurately represent a designer's uncertainty in beliefs about the design attributes.
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Monson, Christopher Kenneth. "No Free Lunch, Bayesian Inference, and Utility: A Decision-Theoretic Approach to Optimization." Diss., CLICK HERE for online access, 2006. http://contentdm.lib.byu.edu/ETD/image/etd1292.pdf.

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Waters, John Michael. "The Utility of Mathematical Symbols." Thesis, Virginia Tech, 2015. http://hdl.handle.net/10919/52706.

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Explanations of why mathematics is useful to empirical research focus on mathematics' role as a representation or model. On platonist accounts, the representational relation is one of structural correspondence between features of the real world and the abstract mathematical structures that represent them. Where real numbers are concerned, however, there is good reason to think the world's correspondence with systems of real number symbols, rather than the real numbers themselves, can be utilized for our representational purposes. One way this can be accomplished is through a paraphrase interpretation of real number symbols where the symbols are taken to refer directly to the things in the world real numbers are supposed to represent. A platonist account of structural correspondence between structures of real numbers and the world can be found in the foundations of measurement where a scale of real numbers is applied to quantities of physical properties like length, mass and velocity. This subject will be employed as a demonstration of how abstract real numbers, traditionally construed as modeling features of the world, are superfluous if their symbols are taken to refer directly to those features.
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Bouzit, Abdel Madjid. "Modélisation du comportement des agriculteurs face au risque : investigations de la théorie de l'utilité dépendant des rangs." Cachan, Ecole normale supérieure, 1996. http://www.theses.fr/1996DENS0024.

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Cette thèse est consacrée à la modélisation des décisions d'assolement des agriculteurs en situation risquée. Les modèles de programmation mathématique du risque utilises en production agricole sont souvent issus de la théorie de l'utilité espérée (théorie UE). Or, la théorie UE est soumise a de nombreux paradoxes empiriques dont le plus célèbre est le paradoxe d'allais. Parmi les théories alternatives la plus prometteuse figure la théorie de l'utilite dépendant des rangs des conséquences (théorie UDR). Cette dernière postule l'existence de deux fonctions pour représenter les préférences des décideurs face au risque : une fonction d'utilite de Von-Neumann Morgenstern et une fonction de transformation des probabilités. Dans cadre de la théorie UDR, nous proposons une procédure de révélation des préférences face au risque basée sur les techniques de l'analyse de la décision (Keeney & Raiffa, 1967) et de la méthode - d'équivalent en loterie double - (Wakker & Deneffe, 1994). La procédure est appliquée pour la spécification de fonctionnelle de préférence UDR de seize agriculteurs dans la région biterroise. Les principaux résultats des estimations sont : 1) les fonctions de transformation de probabilité ne sont pas linéaires en probabilité ; 2) il existe une concordance entre les caractéristiques socio-économiques et les caractéristiques comportementales des agriculteurs interviewes. Par la suite, nous avons généralisé la formulation des modèles de programmation mathématique du risque (pmr) dans le cadre de la théorie UDR (modèle pmr-UDR). L'implémentation du modèle sur trois exploitations agricoles représentatives montre que les décisions d'assolements réelles des agriculteurs sont mieux représentées par le modèle pmr-UDR que par les modèles standards issus de la théorie UE.
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Almeida, Serra Costa Vitoria Pedro Miguel. "Topics on forward investment theory." Thesis, University of Oxford, 2015. http://ora.ox.ac.uk/objects/uuid:158e9239-1385-4314-b337-3eed27c76dfc.

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In this thesis, we study three topics in optimal portfolio selection that are relevant to the theory of forward investment performance processes. In Chapter 1, we develop a connection between the classical mean-variance optimisation and time-monotone forward performance processes for infinitesimal trading times. Namely, we consider consecutive mean-variance problems and we show that, for an appropriate choice of the corresponding mean-variance trade-off coefficients, the wealth process that is generated converges (as the trading interval goes to zero) to the optimal wealth process generated by a time-monotone forward performance process. The choice of the trade-off coefficients is made in accordance to the evolution of the risk tolerance process of the forward performance process. This result allows us to provide a fresh view on the issue of time-consistency of mean-variance analysis, for we propose a method to update mean-variance risk preferences forward in time. As a by-product, our convergence theorem generalises a result by Gyöngy (1998) on the convergence of the Euler scheme for SDEs. We also provide novel results on the Lipschitz regularity of the local risk tolerance function of forward investment performance processes. The material in this chapter is joint work with Marek Musiela and Thaleia Zariphopoulou. Chapter 2 combines forward investment theory and partial information. Specifically, we construct forward investment performance processes in models where the drift is a random variable distributed according to a known distribution. The forward performance processes we consider are of the type U(t,x) = u(t,x, R_t), where R. denotes the process of cumulative excess returns, and u(t,x,z):[0,∞) × ℝ imes ℝN ⟶ ℝ is such that u(t,.,z) is a utility function satisfying Inada's conditions. We derive the Hamilton-Jacobi-Bellman (HJB) equation for u(.). The HJB equation is linearised into the ill-posed heat equation; then, using the multidimensional version of Widder's theorem, we fully characterise the solutions to this equation in terms of a collection of positive measures; the result is an integral representation of the convex conjugate function of u(t,.,z). We construct several examples, and we show how these can be combined, in the dual domain, to generate mixtures of forward investment performance processes. We also show that the volatility of these processes is intrinsic, in that it is not generated by changes of numéraire/measure. In Chapter 3, we provide an extension of the Black-Litterman model to the continuous time setting. Our extension is different from, and complements that of, Frey, Gabih, and Wunderlich (2012) and Davis and Lleo (2013). Specifically, we develop a novel robust estimator of instantaneous expected returns which is continuously shrunk towards the predictions of an asset pricing theory, such as the CAPM. We derive this estimator fairly explicitly and study some of its properties. As in the Black-Litterman model, such an estimator can be used to make optimal asset allocation problems in continuous time more robust with respect to estimation errors. We provide explicit solutions to the problem of maximising expected power utility of terminal wealth, when our estimator is used to estimate the drift. As an example, we illustrate our results explicitly in the case of a multifactor model, where Arbitrage Pricing Theory predicts that alphas should be approximately zero.
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Caccavano, Adam. "Optics and Spectroscopy in Massive Electrodynamic Theory." PDXScholar, 2013. https://pdxscholar.library.pdx.edu/open_access_etds/1485.

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The kinematics and dynamics for plane wave optics are derived for a massive electrodynamic field by utilizing Proca's theory. Atomic spectroscopy is also examined, with the focus on the 21 cm radiation due to the hyperfine structure of hydrogen. The modifications to Snell's Law, the Fresnel formulas, and the 21 cm radiation are shown to reduce to the familiar expressions in the limit of zero photon mass.
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Shaikh, Zain U. "Some mathematical structures arising in string theory." Thesis, University of Aberdeen, 2010. http://digitool.abdn.ac.uk:80/webclient/DeliveryManager?pid=158375.

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This thesis is concerned with mathematical interpretations of some recent develop- ments in string theory. All theories are considered before quantisation. The rst half of the thesis investigates a large class of Lagrangians, L, that arise in the physics literature. Noether's famous theorem says that under certain conditions there is a bijective correspondence between the symmetries of L and the \conserved currents" or integrals of motion. The space of integrals of motion form a sheaf and has a bilinear bracket operation. We show that there is a canonical sheaf d1;0 J1( ) that contains a representation of the higher Dorfman bracket. This is the rst step to de ne a Courant algebroid structure on this sheaf. We discuss the existence of this structure proving that, for a re ned de nition, we have the necessary components. The pure spinor formalism of string theory involves the addition of the algebra of pure spinors to the data of the superstring. This algebra is a Koszul algebra and, for physicists, Koszul duality is string/gauge duality. Motivated by this, we investigate the intimate relationship between a commutative Koszul algebra A and its graded Lie superalgebra Koszul dual to A, U(g) = A!. Classically, this means we obtain the algebra of syzygies AS from the cohomology of a Lie subalgebra of g. We prove H (g 2;C) ' AS again and extend it to the notion of k-syzygies, which we de ne as H (g k;C). In particular, we show that H B er(A) ' H (g 3;C), where H Ber(A) is the Berkovits cohomology of A.
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Books on the topic "Utility theory – Mathematical models"

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Chew, Soo Hong. Mixture symmetric utility theory. Toronto: Dept. of Economics, Institute for Policy Analysis, University of Toronto, 1988.

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Quiggin, John. Generalized expected utility theory: The rank-dependent model. Boston: Kluwer Academic Publishers, 1993.

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Green, Edward J. A revealed preference theory for expected utility. Santa Monica, CA: Rand Corp., 1989.

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Hong, Chew Soo. Recursive utility under uncertainty. Toronto: Dept. of Economics and Institute for Policy Analysis, University of Toronto, 1990.

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Segal, Uzi. Anticipated utility: A measure representation approach. Toronto: Dept. of Economics, Institute for Policy Analysis, University of Toronto, 1988.

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Chew, S. H. A unifying approach to axiomatic non-expected utility theories. Toronto: Dept. of Economics and Institute for Policy Analysis, University of Toronto, 1987.

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Segal, U. Additively separable representations on non-convex sets. Toronto: Dept. of Economics and Institute for Policy Analysis, University of Toronto, 1991.

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Safra, Svi. Preference reversals and nonexpected utility behavior. Toronto: Dept. of Economics, Institute for Policy Analysis, University of Toronto, 1988.

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Oginuma, Takashi. A theory of expected utility with nonadditive probability. Kobe, Japan: Institute of Economic Research, Kobe University of Commerce, 1990.

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Chung, Jae Wan. Utility and production functions: Theory and applications. Oxford, UK: Blackwell, 1994.

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Book chapters on the topic "Utility theory – Mathematical models"

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Gomes, Maria Isabel, and Nelson Chibeles Martins. "Sequential Decisions and Introduction to Utility Theory." In Mathematical Models for Decision Making with Multiple Perspectives, 21–39. Boca Raton: CRC Press, 2022. http://dx.doi.org/10.1201/9781003015154-2.

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Bridges, Douglas S. "Constructive Methods in Mathematical Economics." In Mathematical Utility Theory, 1–21. Vienna: Springer Vienna, 1999. http://dx.doi.org/10.1007/978-3-7091-6410-5_1.

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Schmidt, Ulrich. "Moral Hazard and First-Order Risk Aversion." In Mathematical Utility Theory, 167–79. Vienna: Springer Vienna, 1999. http://dx.doi.org/10.1007/978-3-7091-6410-5_10.

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Luce, R. Duncan. "Binary Gambles of a Gain and a Loss: an Understudied Domain." In Mathematical Utility Theory, 181–202. Vienna: Springer Vienna, 1999. http://dx.doi.org/10.1007/978-3-7091-6410-5_11.

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Seidl, Christian, and Stefan Traub. "Biases in the Assessment of von Neumann—Morgenstern Utility Functions." In Mathematical Utility Theory, 203–39. Vienna: Springer Vienna, 1999. http://dx.doi.org/10.1007/978-3-7091-6410-5_12.

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Chipman, John S. "An Application of Integrability and Duality Theory to the Classical Transfer Problem in International Trade." In Mathematical Utility Theory, 241–55. Vienna: Springer Vienna, 1999. http://dx.doi.org/10.1007/978-3-7091-6410-5_13.

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Droste, Manfred. "Uniqueness of Semicontinuous Ordinal Utility Functions." In Mathematical Utility Theory, 23–38. Vienna: Springer Vienna, 1999. http://dx.doi.org/10.1007/978-3-7091-6410-5_2.

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Estévez, Margarita, Carlos Hervés, and Amelia Verdejo. "Numerical Representation of Countably Bounded Preferences." In Mathematical Utility Theory, 39–51. Vienna: Springer Vienna, 1999. http://dx.doi.org/10.1007/978-3-7091-6410-5_3.

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Candeal, Juan Carlos, Juan Ramón Miguel, and Esteban Induráin. "Existence of Additive and Continuous Utility Functions on Ordered Semigroups." In Mathematical Utility Theory, 53–68. Vienna: Springer Vienna, 1999. http://dx.doi.org/10.1007/978-3-7091-6410-5_4.

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Estévez, Margarita, Carlos Hervés, and Amelia Verdejo. "Topologies on the Space of Economic Agents." In Mathematical Utility Theory, 69–78. Vienna: Springer Vienna, 1999. http://dx.doi.org/10.1007/978-3-7091-6410-5_5.

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Conference papers on the topic "Utility theory – Mathematical models"

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Coelho, P. J., J. L. T. Azevedo, and L. M. R. Coelho. "The Mathematical Modeling of Utility Boilers at IST." In ASME 2000 International Mechanical Engineering Congress and Exposition. American Society of Mechanical Engineers, 2000. http://dx.doi.org/10.1115/imece2000-1554.

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Abstract The mathematical modeling of utility boilers is a difficult problem due to the multiplicity of physical phenomena involved and to the interaction between different phenomena. However, reliable models are extremely useful since they can be used to design new equipment, and to optimize and retrofit units in operation. In this paper a survey of the work carried out at Institute superior Técnico (IST) in Lisbon is reported. Only the work based on comprehensive models, i.e., those accounting for all the relevant physical phenomena taking place in the combustion chamber is addressed. The models employed are briefly outlined. Then, four examples of application are given, two of them for coal-fired boilers where the effect of low NOx burners and coal over coal reburning is investigated, and the other two for oil-fired boilers where parallelization of the code and simulation of the convection chamber are reported.
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Marston, Matthew, and Farrokh Mistree. "Game-Based Design: A Game Theoretic Extension to Decision-Based Design." In ASME 2000 International Design Engineering Technical Conferences and Computers and Information in Engineering Conference. American Society of Mechanical Engineers, 2000. http://dx.doi.org/10.1115/detc2000/dtm-14578.

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Abstract In this paper we consider an approach to design in which the decisions made by one designer have a strategic aspect in that they affect the decision made by other designers. The approach taken is inclusion of the mathematics of game theory into a model we call Game-Based Design. Game-Based Design builds on the already established mathematics of utility theory in Decision-Based Design. The models within Game-Based Design are based on the interaction of the designers: (1) whether or not they share math models and information and (2) how they cooperate with one another. In this paper we show four math models for designs involving (1) two designers that are restricted in their communication, (2) three or more designers that are restricted in their communication, (3) two designers with unrestricted communication, and (4) three or more designers with a combination of unrestricted and restricted communication. The design of a universal electric motor product family is used to show the mathematics of three designers with restricted communication and three designers with a combination of restricted and unrestricted communication. The three designers are a configuration design, a power designer, and a product family designer each with their own objectives.
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Burnap, Alexander, Ye Liu, Yanxin Pan, Honglak Lee, Richard Gonzalez, and Panos Y. Papalambros. "Estimating and Exploring the Product Form Design Space Using Deep Generative Models." In ASME 2016 International Design Engineering Technical Conferences and Computers and Information in Engineering Conference. American Society of Mechanical Engineers, 2016. http://dx.doi.org/10.1115/detc2016-60091.

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Product forms in quantitative design methods are typically expressed with a mathematical representation such as vectors, trees, graphs, and grammars. Such formal representations are restrictive in terms of realism or flexibility, and this limits their utility for human designers who typically create product forms in a design space that is restricted by the medium (e.g., free-hand sketching) and by their cognitive skills (e.g., creativity and experience). To increase the value of formal representations to human designers, this paper proposes to represent the design space as designs sampled from a statistical distribution of form and estimate a generative model of this distribution using a large set of images and design attributes of previous designs. This statistical representation approach is both flexible and realistic, and is estimated using a deep (multi-layer) generative model. The value of the representation is demonstrated in a study of two-dimensional automobile body forms. Using 180,000 form data of automobile designs over the past decade, we can morph a vehicle form into different body types and brands, thus offering human designers potential insights on realistic new design possibilities.
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Locascio, Angela, and Deborah L. Thurston. "Quantifying the House of Quality for Optimal Product Design." In ASME 1994 Design Technical Conferences collocated with the ASME 1994 International Computers in Engineering Conference and Exhibition and the ASME 1994 8th Annual Database Symposium. American Society of Mechanical Engineers, 1994. http://dx.doi.org/10.1115/detc1994-0005.

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Abstract Manufacturers seek to improve the quality of their products while reducing costs and decreasing production time. In this paper, we describe a ‘design for X’ methodology that addresses multiple issues that contribute to overall product quality. This methodology builds on the popular House of Quality symbolic construct by using customer preferences and a transformation of the customer -engineering relationship matrix to form constraints on the feasible design space. Multiattribute Utility Theory, a decision analysis tool, provides the mathematical basis to model competing design goals simultaneously and to make rational decisions to affect overall design improvement. When coupled with the constraints, this construct completes a mathematical programming model of the concurrent design problem. With an example, we demonstrate how to extract qualitative information from the House of Quality, formulate the model, and solve it to determine the best design — defined as the optimum combination of multiple quality attributes. This methodology provides a formal framework for decision making in design, allowing manufacturers to Design for Quality.
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Connolly, Thomas J. M., and Jaime A. Contreras. "New Bond Graph Primitive Elements for Modeling Systems Modeled by Practical Derivatives." In ASME 2006 International Mechanical Engineering Congress and Exposition. ASMEDC, 2006. http://dx.doi.org/10.1115/imece2006-14942.

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This paper describes our work in creating and using new bond graph primitive elements to represent time-varying and/or frequency-dependent effects in engineering systems. These phenomena can be mathematically represented by fractional-order differential and integral operators. Equations with such operators arise from the analysis and application of several classes of partial differential equations [1]. Previous researchers (Bagley, Torvik, et. al.) have used this approach to further the modeling of fluid-structure interactions, heat transfer, and related control systems [3–6]. These new primitive elements represent visco-inertial and visco-elastic phenomena, whose constitutive laws are dictated by half-order derivatives and integrals. After a brief overview of the fractional derivative, we continue with a formalized mathematical development of these new primitive elements using an impedance-based approach, which provides further support in the argument for their necessity. This approach provides the system modeler with new tools to widen the range of systems that he can accurately model using a lumped-parameter bond graph approach. We illustrate the application and utility of the approach with an example problem in fluid-structure interactions by presenting bond graph models and corresponding simulations. The simulations reveal that the use of these new elements accurately captures the frequency-dependent behavior of the physical system.
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Mareš, Milan. "Open topics in fuzzy coalitional games with transferable utility." In Game Theory and Mathematical Economics. Warsaw: Institute of Mathematics Polish Academy of Sciences, 2006. http://dx.doi.org/10.4064/bc71-0-17.

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Jaumard, Nicolas V., Hassam A. Baig, Benjamin B. Guarino, and Beth A. Winkelstein. "A Three Degree of Freedom Lumped Parameter Model of Whole Body Vibration Along the Spine in the Rat." In ASME 2013 Summer Bioengineering Conference. American Society of Mechanical Engineers, 2013. http://dx.doi.org/10.1115/sbc2013-14111.

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Whole body vibration (WBV) can induce a host of pathologies, including muscle fatigue and neck and low back pain [1,2]. A new model of WBV in the rat has been developed to define relationships between WBV exposures, kinematics, and behavioral sensitivity (i.e. pain) [3]. Although in vivo studies provide valuable associations between biomechanics and physiology, they are not able to fully define the mechanical loading of specific spinal regions and/or the tissues that may undergo injurious loading or deformation. Mathematical models of seated humans and primates have been used to estimate spinal loads and design measures that mitigate them during WBV [4–6]. Although such models provide estimates of relative spinal motions, they have limited utility for relating potentially pathological effects of vibration-induced kinematics and kinetics since those models do not enable simultaneous evaluation of relevant spinal tissues with the potential for injury and pain generation. As such, the goal of this work was to develop and validate a three degree of freedom (3DOF) lumped-parameter model of the prone rat undergoing WBV directed along the long-axis of the spine. The model was constructed with dimensions of a generalized rat and model parameters optimized using kinematics over a range of frequencies. It was validated by comparing predicted and measured transmissibility and further used to predict spinal extension and compression, as well as acceleration, during WBV for frequencies known to produce resonance in the seated human and pain in the rat [3,7].
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Khoroshun, V. V. "Mathematical models of rigorous diffraction theory and signals theory." In 2010 5th International Conference on Ultrawideband and Ultrashort Impulse Signals (UWBUSIS). IEEE, 2010. http://dx.doi.org/10.1109/uwbusis.2010.5609171.

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Lee, Young Wook, Suk Hoon Kim, Young Ho Cho, Hyun Seok Ko, Dong Hoon Shin, Joo Hyun Moon, and Chang Sun Kang. "Consensus Based Nuclear Public-Hearing System Model." In 14th International Conference on Nuclear Engineering. ASMEDC, 2006. http://dx.doi.org/10.1115/icone14-89722.

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Although the government admit the benefit of construction of a nuclear facility for national electric source, related policy could be developed and carried out only if the public, especially who have some stake on it, recognize the benefit and accept the policy. For public participation, Korea has a system of public-hearing in accordance with the law. Because of the absence of the detailed way for public opinion aggregation and for the reflection of the aggregated opinion, Korean public-hearing system is only a conceptual model. Therefore, some specific system for Korean Public-Hearing should be developed and applied. In this study, to share the right of decision making, which is an ultimate concept for public participation, decision making components and the characteristics of each phase are analyzed. The criteria weight for assessment and comparison with alternatives are founded as a valuation factor of the decision making components, which should be based on the social consensus. On these foundations, a system for aggregation and reflection of the public opinion was proposed. The system named “CPDM” (Consensus based Participatory Decision Making) has three authority groups for decision making. At first, “advisory experts group” play a role for the technical assessment and the serve utility value on the criteria for each alternatives. Next, “participatory deliberation group” play a role for consensus building on the relative-importance (weight) between the criteria by feedback to promote degree of consensus. Lastly including gentlemen of the long robe, “expert group for decision making” paly a role to reflect the utility and weight and make a decision with agreement for performance of it. Also, in this study, a mathematical model for the quantification of the degree of consensus was conceptualized using Ordered Weighted Averaging (OWA) aggregation operator and fuzzy similarity theory, which is a comparison concept. Since this model enables influence of each criteria and each participant on collective consensus to be analyzed, a direction to promote consensus building can be derived. That is to say, this model can support consensus building and promote public acceptance for the nuclear industry and related policy.
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Moeschlin, Otto. "Von Neumann models and the oeuvre of Jerzy Łoś." In Game Theory and Mathematical Economics. Warsaw: Institute of Mathematics Polish Academy of Sciences, 2006. http://dx.doi.org/10.4064/bc71-0-20.

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Reports on the topic "Utility theory – Mathematical models"

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Lovianova, Iryna V., Dmytro Ye Bobyliev, and Aleksandr D. Uchitel. Cloud calculations within the optional course Optimization Problems for 10th-11th graders. [б. в.], September 2019. http://dx.doi.org/10.31812/123456789/3267.

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The article deals with the problem of introducing cloud calculations into 10th-11th graders’ training to solve optimization problems in the context of the STEM-education concept. After analyzing existing programmes of optional courses on optimization problems, the programme of the optional course Optimization Problems has been developed and substantiated implying solution of problems by the cloud environment CoCalc. It is a routine calculating operation and not a mathematical model that is accentuated in the programme. It allows considering more problems which are close to reality without adapting the material while training 10th-11th graders. Besides, the mathematical apparatus of the course which is partially known to students as the knowledge acquired from such mathematics sections as the theory of probability, mathematical statistics, mathematical analysis and linear algebra is enough to master the suggested course. The developed course deals with a whole class of problems of conventional optimization which vary greatly. They can be associated with designing devices and technological processes, distributing limited resources and planning business functioning as well as with everyday problems of people. Devices, processes and situations to which a model of optimization problem is applied are called optimization problems. Optimization methods enable optimal solutions for mathematical models. The developed course is noted for building mathematical models and defining a method to be applied to finding an efficient solution.
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Modlo, Yevhenii O., Serhiy O. Semerikov, Ruslan P. Shajda, Stanislav T. Tolmachev, and Oksana M. Markova. Methods of using mobile Internet devices in the formation of the general professional component of bachelor in electromechanics competency in modeling of technical objects. [б. в.], July 2020. http://dx.doi.org/10.31812/123456789/3878.

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The article describes the components of methods of using mobile Internet devices in the formation of the general professional component of bachelor in electromechanics competency in modeling of technical objects: using various methods of representing models; solving professional problems using ICT; competence in electric machines and critical thinking. On the content of learning academic disciplines “Higher mathematics”, “Automatic control theory”, “Modeling of electromechanical systems”, “Electrical machines” features of use are disclosed for Scilab, SageCell, Google Sheets, Xcos on Cloud in the formation of the general professional component of bachelor in electromechanics competency in modeling of technical objects. It is concluded that it is advisable to use the following software for mobile Internet devices: a cloud-based spreadsheets as modeling tools (including neural networks), a visual modeling systems as a means of structural modeling of technical objects; a mobile computer mathematical system used at all stages of modeling; a mobile communication tools for organizing joint modeling activities.
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