Distributionally Robust Games with Risk-averse Players

We present a new model of incomplete information games without private information in which the players use a distributionally robust optimization approach to cope with the payoff uncertainty. With some specific restrictions, we show that our "Distributionally Robust Game" constitutes a true generalization of three popular finite games. These are the Complete Information Games, Bayesian Games and Robust Games. Subsequently, we prove that the set of equilibria of an arbitrary distributionally robust game with specified ambiguity set can be computed as the component-wise projection of the solution set of a multi-linear system of equations and inequalities. For special cases of such games we show equivalence to complete information finite games (Nash Games) with the same number of players and same action spaces. Thus, when our game falls within these special cases one can simply solve the corresponding Nash Game. Finally, we demonstrate the applicability of our new model of games and highlight its importance.Comment: 11 pages, 3 figures, Proceedings of 5th the International Conference on Operations Research and Enterprise Systems ({ICORES} 2016), Rome, Italy, February 23-25, 201

Guaranteeing no interaction between functional dependencies and tree-like inclusion dependencies

Functional dependencies (FDs) and inclusion dependencies (INDs) are the most fundamental integrity constraints that arise in practice in relational databases. A given set of FDs does not interact with a given set of INDs if logical implication of any FD can be determined solely by the given set of FDs, and logical implication of any IND can be determined solely by the given set of INDs. The set of tree-like INDs constitutes a useful subclass of INDs whose implication problem is polynomial time decidable. We exhibit a necessary and sufficient condition for a set of FDs and tree-like INDs not to interact; this condition can be tested in polynomial time

Kemeny's constant and the random surfer

We revisit Kemeny's constant in the context of Web navigation, also known as "surfing." We generalize the constant, derive upper and lower bounds on it, and give it a novel interpretation in terms of the number of links a random surfer will follow to reach his final destination

Why is the snowflake schema a good data warehouse design?

Database design for data warehouses is based on the notion of the snowflake schema and its important special case, the star schema. The snowflake schema represents a dimensional model which is composed of a central fact table and a set of constituent dimension tables which can be further broken up into subdimension tables. We formalise the concept of a snowflake schema in terms of an acyclic database schema whose join tree satisfies certain structural properties. We then define a normal form for snowflake schemas which captures its intuitive meaning with respect to a set of functional and inclusion dependencies. We show that snowflake schemas in this normal form are independent as well as separable when the relation schemas are pairwise incomparable. This implies that relations in the data warehouse can be updated independently of each other as long as referential integrity is maintained. In addition, we show that a data warehouse in snowflake normal form can be queried by joining the relation over the fact table with the relations over its dimension and subdimension tables. We also examine an information-theoretic interpretation of the snowflake schema and show that the redundancy of the primary key of the fact table is zero

The Appraisal of Data Centres: Deconstructing the Cash Flow

This paper analyses the appraisal of a specialized form of real estate - data centres - that has a unique blend of locational, physical and technological characteristics that differentiate it from conventional real estate assets. Market immaturity, limited trading and a lack of pricing signals enhance levels of appraisal uncertainty and disagreement relative to conventional real estate assets. Given the problems of applying standard discounted cash flow, an approach to appraisal is proposed that uses pricing signals from traded cash flows that are similar to the cash flows generated from data centres. Based upon ‘the law of one price’, it is assumed that two assets that are expected to generate identical cash flows in the future must have the same value now. It is suggested that the expected cash flow of assets should be analysed over the life cycle of the building. Corporate bond yields are used to provide a proxy for the appropriate discount rates for lease income. Since liabilities are quite diverse, a number of proxies are suggested as discount and capitalisation rates including indexed-linked, fixed interest and zero-coupon bonds.