Hierarchical agent supervision

Agent supervision is a form of control/customization where a supervisor restricts the behavior of an agent to enforce certain requirements, while leaving the agent as much autonomy as possible. To facilitate supervision, it is often of interest to consider hierarchical models where a high level abstracts over low-level behavior details. We study hierarchical agent supervision in the context of the situation calculus and the ConGolog agent programming language, where we have a rich first-order representation of the agent state. We define the constraints that ensure that the controllability of in-dividual actions at the high level in fact captures the controllability of their implementation at the low level. On the basis of this, we show that we can obtain the maximally permissive supervisor by first considering only the high-level model and obtaining a high- level supervisor and then refining its actions locally, thus greatly simplifying the supervisor synthesis task

Abstraction of Agents Executing Online and their Abilities in the Situation Calculus

We develop a general framework for abstracting online behavior of an agent that may acquire new knowledge during execution (e.g., by sensing), in the situation calculus and ConGolog. We assume that we have both a high-level action theory and a low-level one that represent the agent's behavior at different levels of detail. In this setting, we define ability to perform a task/achieve a goal, and then show that under some reasonable assumptions, if the agent has a strategy by which she is able to achieve a goal at the high level, then we can refine it into a low-level strategy to do so

The dynamics of financial stability in complex networks

We address the problem of banking system resilience by applying off-equilibrium statistical physics to a system of particles, representing the economic agents, modelled according to the theoretical foundation of the current banking regulation, the so called Merton-Vasicek model. Economic agents are attracted to each other to exchange `economic energy', forming a network of trades. When the capital level of one economic agent drops below a minimum, the economic agent becomes insolvent. The insolvency of one single economic agent affects the economic energy of all its neighbours which thus become susceptible to insolvency, being able to trigger a chain of insolvencies (avalanche). We show that the distribution of avalanche sizes follows a power-law whose exponent depends on the minimum capital level. Furthermore, we present evidence that under an increase in the minimum capital level, large crashes will be avoided only if one assumes that agents will accept a drop in business levels, while keeping their trading attitudes and policies unchanged. The alternative assumption, that agents will try to restore their business levels, may lead to the unexpected consequence that large crises occur with higher probability

The Single Supervisory Mechanism – Panacea or Quack Banking Regulation? : Preliminary assessments of the evolving regime for the prudential supervision of banks with the ECB involvement (August 16, 2013)

This paper analyzes the evolving architecture for the prudential supervision of banks in the euro area. It is primarily concerned with the likely effectiveness of the SSM as a regime that intends to bolster financial stability in the steady state. By using insights from the political economy of bureaucracy it finds that the SSM is overly focused on sharp tools to discipline captured national supervisors and thus under-incentives their top-level personnel to voluntarily contribute to rigid supervision. The success of the SSM in this regard will hinge on establishing a common supervisory culture that provides positive incentives for national supervisors. In this regard, the internal decision making structure of the ECB in supervisory matters provides some integrative elements. Yet, the complex procedures also impede swift decision making and do not solve the problem adequately. Ultimately, a careful design and animation of the ECB-defined supervisory framework and the development of inter-agency career opportunities will be critical. The ECB will become a de facto standard setter that competes with the EBA. A likely standoff in the EBA’s Board of Supervisors will lead to a growing gap in regulatory integration between SSM-participants and other EU Member States. Joining the SSM as a non-euro area Member State is unattractive because the cur-rent legal framework grants no voting rights in the ECB’s ultimate decision making body. It also does not supply a credible commitment opportunity for Member States who seek to bond to high quality supervision

The Single Supervisory Mechanism - Panacea or Quack Banking Regulation? : preliminary assessment of the evolving regime for the prudential supervision of banks with ECB involvement : [Version: 16 August 2013]

This paper analyzes the evolving architecture for the prudential supervision of banks in the euro area. It is primarily concerned with the likely effectiveness of the SSM as a regime that intends to bolster financial stability in the steady state. By using insights from the political economy of bureaucracy it finds that the SSM is overly focused on sharp tools to discipline captured national supervisors and thus underincentives their top-level personnel to voluntarily contribute to rigid supervision. The success of the SSM in this regard will hinge on establishing a common supervisory culture that provides positive incentives for national supervisors. In this regard, the internal decision making structure of the ECB in supervisory matters provides some integrative elements. Yet, the complex procedures also impede swift decision making and do not solve the problem adequately. Ultimately, a careful design and animation of the ECB-defined supervisory framework and the development of inter-agency career opportunities will be critical. The ECB will become a de facto standard setter that competes with the EBA. A likely standoff in the EBA’s Board of Supervisors will lead to a growing gap in regulatory integration between SSM-participants and other EU Member States. Joining the SSM as a non-euro area Member State is unattractive because the current legal framework grants no voting rights in the ECB’s ultimate decision making body. It also does not supply a credible commitment opportunity for Member States who seek to bond to high quality supervision

Good Practices Preceding the Implementation of the System of Management of Environment, on Small and Medium Enterprises

The current and future economic context compel to ample reconsiderations related to the volume and content of the demarches carried out by organisations, in order to face the competition sharper and sharper and the more and more numerous rigors, among which the issue of environment is more than imperative. The good practices in environment management become more and more necessary and, fortunately, are supplied more and more often by organisations in SMEs category, which encounter highly valuable solutions in this context charged with convictions. This work features an exemplary performance of a small organisation that managed to settle an informal system of management of environment, built up with much rigour, involvement, respect for society and environment. The objectives of authors consist in offering good practices to business environment, from SMEs category, means of approaching in the analysis of environment practices and emphasizing the imperatives in this area of action, for organisations. The method of research included the consulting of some lists of specialised works, documentary study in the sites of the organisations from SMEs category and of the organisations in the field, adopting some established models of analysis (FMEA - Failure Modes and Effects Analysis), singularised application of method to the data concerning an organisation from German space. The results of authors’ demarche were materialised in both theoretical and practical considerations, presumptively useful for the specialists in the field of environment management, university environment and business environment.good practices, environmental performance, SMEs, system of management, quality

A Three-Step Methodology to Improve Domestic Energy Efficiency

Increasing energy prices and the greenhouse effect lead to more awareness of energy efficiency of electricity supply. During the last years, a lot of technologies have been developed to improve this efficiency. Next to large scale technologies such as windturbine parks, domestic technologies are developed. These domestic technologies can be divided in 1) Distributed Generation (DG), 2) Energy Storage and 3) Demand Side Load Management. Control algorithms optimizing a combination of these techniques can raise the energy reduction potential of the individual techniques. In this paper an overview of current research is given and a general concept is deducted. Based on this concept, a three-step optimization methodology is proposed using 1) offline local prediction, 2) offline global planning and 3) online local scheduling. The paper ends with results of simulations and field tests showing that the methodology is promising.\u

German insurance industry: market overview and trends

This article presents an overview of the contemporary German insurance market, its structure, players, and development trends. First, brief information about the history of the insurance industry in Germany is provided. Second, the contemporary market is analyzed in terms of its legal and economic structure, with statistics on the number of companies, insurance density and penetration, the role of insurers in the capital markets, premiums split, and main market players and their market shares. Furthermore, the three biggest insurance lines—life, health, and property and casualty—are considered in more detail, such as product range, country specifics, and insurance and investment results. A section on regulation outlines its implementation in the insurance sector, offering information on the underlying legislative basis, supervisory body, technical procedures, expected developments, and sources of more detailed information