13,281 research outputs found
Unobservable Persistant Productivity and Long Term Contracts
We study the problem of a firm that faces asymmetric information about the productivity of its
potential workers. In our framework, a worker’s productivity is either assigned by nature at birth,
or determined by an unobservable initial action of the worker that has persistent effects over
time. We provide a characterization of the optimal dynamic compensation scheme that attracts
only high productivity workers: consumption –regardless of time period– is ranked according to
likelihood ratios of output histories, and the inverse of the marginal utility of consumption
satisfies the martingale property derived in Rogerson (1985). However, in the case of i.i.d.
output and square root utility we show that, contrary to the features of the optimal contract for a
repeated moral hazard problem, the level and the variance of consumption are negatively
correlated, due to the influence of early luck into future compensation. Moreover, in this
example long-term inequality is lower under persistent private informatio
A mixed regularization approach for sparse simultaneous approximation of parameterized PDEs
We present and analyze a novel sparse polynomial technique for the
simultaneous approximation of parameterized partial differential equations
(PDEs) with deterministic and stochastic inputs. Our approach treats the
numerical solution as a jointly sparse reconstruction problem through the
reformulation of the standard basis pursuit denoising, where the set of jointly
sparse vectors is infinite. To achieve global reconstruction of sparse
solutions to parameterized elliptic PDEs over both physical and parametric
domains, we combine the standard measurement scheme developed for compressed
sensing in the context of bounded orthonormal systems with a novel mixed-norm
based regularization method that exploits both energy and sparsity. In
addition, we are able to prove that, with minimal sample complexity, error
estimates comparable to the best -term and quasi-optimal approximations are
achievable, while requiring only a priori bounds on polynomial truncation error
with respect to the energy norm. Finally, we perform extensive numerical
experiments on several high-dimensional parameterized elliptic PDE models to
demonstrate the superior recovery properties of the proposed approach.Comment: 23 pages, 4 figure
On Quasi-Newton Forward--Backward Splitting: Proximal Calculus and Convergence
We introduce a framework for quasi-Newton forward--backward splitting
algorithms (proximal quasi-Newton methods) with a metric induced by diagonal
rank- symmetric positive definite matrices. This special type of
metric allows for a highly efficient evaluation of the proximal mapping. The
key to this efficiency is a general proximal calculus in the new metric. By
using duality, formulas are derived that relate the proximal mapping in a
rank- modified metric to the original metric. We also describe efficient
implementations of the proximity calculation for a large class of functions;
the implementations exploit the piece-wise linear nature of the dual problem.
Then, we apply these results to acceleration of composite convex minimization
problems, which leads to elegant quasi-Newton methods for which we prove
convergence. The algorithm is tested on several numerical examples and compared
to a comprehensive list of alternatives in the literature. Our quasi-Newton
splitting algorithm with the prescribed metric compares favorably against
state-of-the-art. The algorithm has extensive applications including signal
processing, sparse recovery, machine learning and classification to name a few.Comment: arXiv admin note: text overlap with arXiv:1206.115
Multitriangulations, pseudotriangulations and primitive sorting networks
We study the set of all pseudoline arrangements with contact points which
cover a given support. We define a natural notion of flip between these
arrangements and study the graph of these flips. In particular, we provide an
enumeration algorithm for arrangements with a given support, based on the
properties of certain greedy pseudoline arrangements and on their connection
with sorting networks. Both the running time per arrangement and the working
space of our algorithm are polynomial.
As the motivation for this work, we provide in this paper a new
interpretation of both pseudotriangulations and multitriangulations in terms of
pseudoline arrangements on specific supports. This interpretation explains
their common properties and leads to a natural definition of
multipseudotriangulations, which generalizes both. We study elementary
properties of multipseudotriangulations and compare them to iterations of
pseudotriangulations.Comment: 60 pages, 40 figures; minor corrections and improvements of
presentatio
- …