Tasks, cognitive agents, and KB-DSS in workflow and process management

The purpose of this paper is to propose a nonparametric interest rate term structure model and investigate its implications on term structure dynamics and prices of interest rate derivative securities. The nonparametric spot interest rate process is estimated from the observed short-term interest rates following a robust estimation procedure and the market price of interest rate risk is estimated as implied from the historical term structure data. That is, instead of imposing a priori restrictions on the model, data are allowed to speak for themselves, and at the same time the model retains a parsimonious structure and the computational tractability. The model is implemented using historical Canadian interest rate term structure data. The parametric models with closed form solutions for bond and bond option prices, namely the Vasicek (1977) and CIR (1985) models, are also estimated for comparison purpose. The empirical results not only provide strong evidence that the traditional spot interest rate models and market prices of interest rate risk are severely misspecified but also suggest that different model specifications have significant impact on term structure dynamics and prices of interest rate derivative securities.

Hypermedia and the semantic web: a research agenda

Until recently, the Semantic Web was little more than a name for the next generation Web infrastructure as envisioned by its inventor, Tim Berners-Lee. Now, with the introduction of XML and RDF, and new developments such as RDF Schema and DAML+OIL, the Semantic Web is rapidly taking shape. In this paper, we first give an overview of the state-of-the-art in Semantic Web technology, the key relationships with traditional hypermedia research, and a comprehensive reference list to various sets of literature (Hypertext, Web and Semantic Web). The core of the paper presents a research agenda b

Tasks, cognitive agents, and KB-DSS in workflow and process management

The purpose of this paper is to propose a nonparametric interest rate term structure model and investigate its implications on term structure dynamics and prices of interest rate derivative securities. The nonparametric spot interest rate process is estimated from the observed short-term interest rates following a robust estimation procedure and the market price of interest rate risk is estimated as implied from the historical term structure data. That is, instead of imposing a priori restrictions on the model, data are allowed to speak for themselves, and at the same time the model retains a parsimonious structure and the computational tractability. The model is implemented using historical Canadian interest rate term structure data. The parametric models with closed form solutions for bond and bond option prices, namely the Vasicek (1977) and CIR (1985) models, are also estimated for comparison purpose. The empirical results not only provide strong evidence that the traditional spot interest rate models and market prices of interest rate risk are severely misspecified but also suggest that different model specifications have significant impact on term structure dynamics and prices of interest rate derivative securities.

Inherently flexible software

Software evolution is an important and expensive consequence of software. As Lehman's First Law of Program Evolution states, software must be changed to satisfy new user requirements or become progressively less useful to the stakeholders of the software. Software evolution is difficult for a multitude of different reasons, most notably because of an inherent lack of evolveability of software, design decisions and existing requirements which are difficult to change and conflicts between new requirements and existing assumptions and requirements. Software engineering has traditionally focussed on improvements in software development techniques, with little conscious regard for their effects on software evolution. The thesis emphasises design for change, a philosophy that stems from ideas in preventive maintenance and places the ease of software evolution more at the centre of the design of software systems than it is at present. The approach involves exploring issues of evolveability, such as adaptability, flexibility and extensibility with respect to existing software languages, models and architectures. A software model, SEvEn, is proposed which improves on the evolveability of these existing software models by improving on their adaptability, flexibility and extensibility, and provides a way to determine the ripple effects of changes by providing a reflective model of a software system. The main conclusion is that, whilst software evolveability can be improved, complete adaptability, flexibility and extensibility of a software system is not possible, hi addition, ripple effects can't be completely eradicated because assumptions will always persist in a software system and new requirements may conflict with existing requirements. However, the proposed reflective model of software (which consists of a set of software entities, or abstractions, with the characteristic of increased evolveability) provides trace-ability of ripple effects because it explicitly models the dependencies that exist between software entities, determines how software entities can change, ascertains the adaptability of software entities to changes in other software entities on which they depend and determines how changes to software entities affect those software entities that depend on them

Dagstuhl News January - December 2008

"Dagstuhl News" is a publication edited especially for the members of the Foundation "Informatikzentrum Schloss Dagstuhl" to thank them for their support. The News give a summary of the scientific work being done in Dagstuhl. Each Dagstuhl Seminar is presented by a small abstract describing the contents and scientific highlights of the seminar as well as the perspectives or challenges of the research topic

Third international workshop on Authoring of adaptive and adaptable educational hypermedia (A3EH), Amsterdam, 18-22 July, 2005

The A3EH follows a successful series of workshops on Adaptive and Adaptable Educational Hypermedia. This workshop focuses on models, design and authoring of AEH, on assessment of AEH, conversion between AEH and evaluation of AEH. The workshop has paper presentations, poster session and panel discussions