Asymptotically idempotent aggregation operators for trust management in multi-agent systems

The study of trust management in multi-agent system, especially distributed, has grown over the last years. Trust is a complex subject that has no general consensus in literature, but has emerged the importance of reasoning about it computationally. Reputation systems takes into consideration the history of an entity’s actions/behavior in order to compute trust, collecting and aggregating ratings from members in a community. In this scenario the aggregation problem becomes fundamental, in particular depending on the environment. In this paper we describe a technique based on a class of asymptotically idempotent aggregation operators, suitable particulary for distributed anonymous environments

Axiomatization of residual income and generation of financial securities

This paper presents an axiomatization of residual income, aka excess profit, and illustrates how it may univocally engenders fixed-income or variable-income assets. In the first part it is shown that, depending on the relations between excess profit and the investor's excess wealth, a well-specified theory of residual income is generated: one is the standard theory, which historically traces back to Hamilton (1777) and Marshall (1890) and is a deep-rooted notion in economic theory, finance, and accounting. Another one is the systemic value added or lost-capital paradigm: introduced in Magni (2000, 2003), the theory is enfolded in Keynes's (1936) notion of user cost and is naturally generated by an arbitrage-theory perspective. In the second part, the paper reverts the usual analysis: instead of computing residual incomes profits from a pattern of cash flows, residual incomes are fixed first to derive vectors of cash flows. It is shown that variable- or fixed-income assets may be constructed on the basis of either theory starting from pre-determined growth rates for excess profit. In particular, zero-coupon bonds and coupon bonds traded in a capital market are shown to be deducted as equilibrium vectors of residual-income-based assets.Residual income, excess profit, capital, arbitrage, bond

A note on a Tarski type fixed-point theorem

AbstractIn this paper we propose a basic fixed-point theorem for correspondences inspired by Tarski's intersection point theorem. This result furnishes an efficient tool to prove the existence of pure strategy Nash equilibria for two player games with possibly discontinuous payoffs functions defined on compact real intervals

Once Again, is Openness Good for Growth?

Rodriguez and Rodrik (2000) argue that the relation between openness and growth is still an open question. One of the main problems in the assessment of the effect is the endogeneity of the relation. In order to address this issue, this paper applies the identification through heteroskedasticity methodology to estimate the effect of openness on growth while properly controlling for the effect of growth on openness. The results suggest that openness would have a positive effect on growth, although small. This result stands, despite the equally robust effect from growth to openness.

Gauge-free cluster variational method by maximal messages and moment matching

We present an implementation of the cluster variational method (CVM) as a message passing algorithm. The kind of message passing algorithm used for CVM, usually named generalized belief propagation (GBP), is a generalization of the belief propagation algorithm in the same way that CVM is a generalization of the Bethe approximation for estimating the partition function. However, the connection between fixed points of GBP and the extremal points of the CVM free energy is usually not a one-to-one correspondence because of the existence of a gauge transformation involving the GBP messages. Our contribution is twofold. First, we propose a way of defining messages (fields) in a generic CVM approximation, such that messages arrive on a given region from all its ancestors, and not only from its direct parents, as in the standard parent-to-child GBP. We call this approach maximal messages. Second, we focus on the case of binary variables, reinterpreting the messages as fields enforcing the consistency between the moments of the local (marginal) probability distributions. We provide a precise rule to enforce all consistencies, avoiding any redundancy, that would otherwise lead to a gauge transformation on the messages. This moment matching method is gauge free, i.e., it guarantees that the resulting GBP is not gauge invariant. We apply our maximal messages and moment matching GBP to obtain an analytical expression for the critical temperature of the Ising model in general dimensions at the level of plaquette CVM. The values obtained outperform Bethe estimates, and are comparable with loop corrected belief propagation equations. The method allows for a straightforward generalization to disordered systems

A Comparative Analysis of the Meat Sector in Hungary and Emilia-Romagna: Performance and Efficiency

In the last years, a lot of important changes occurred inside the European Union after the entering of 12 new member States. The rate of economic growth of the new member States has been higher the other EU members. In Hungary, particularly, the growth level has reached an intermediate position, placing itself at 4% GDP per capita. Comparative analysis are needed to better understand the process of catching-up and to evaluate how the integration between EU regions and countries is going on. The aim of this paper is to compare the economic and efficiency performance of firms in Hungary and Emilia-Romagna, considering a specific sector, meat processing and storage, of the food industry). We will investigate if in the last years the integration process has ultimately led to narrow the gap in the economic performances and efficiency of the firms. The choice of meat processing industry is due to the fact that in Hungary theres a remarkable animal production, whereas in the Emilia-Romagna region the meat industry reflects an organizational structure based on the concentration and specialization in agri-food districts. This paper compares the financial-economic performances and the technical efficiency of firms involved in the industry of meat processing in Hungary and in an Italian region, Emilia-Romagna. We will also discuss and compare the different results obtained throughout governance and structure of meat industry. We will underline the main role of the industrial districts in Emilia-Romagna, and how the Hungarian entrepreneurial system could handle the competition in the global market.Firms financial-economic performances, stochastic production function, agri-food districts, meat processing industry, Hungarian and Emilia-Romagna food industry, Livestock Production/Industries,

The nature of the LINER in the galaxy NGC 404

NGC 404, at a distance of 3.4 Mpc, is the nearest S0 galaxy. This galaxy harbors a LINER; however, since the spectrum does not show a broad H{\alpha} emission, it is not certain that this LINER is a low luminosity AGN and its nature is still an open question. HST observations show the existence of stellar populations with an age of 3 x 10^8 years years in the galactic bulge and with an age of 6-15 x 10^9 years in the galactic disk. In this work, we present an analysis of the data cube of NGC 404 obtained with the IFU (Integral Field Unity) of the GMOS (Gemini Multi-Object Spectrograph) on the Gemini North telescope.Comment: 2 pages, 2 figure

Robotic double-loop reconstruction method following total gastrectomy

Minimally invasive surgery for gastric cancer is a challenge. The reconstructive time is a particular issue and researchers have adopted a large variety of solutions and produced heterogeneous data. The reconstructive phase can be divided into two major categories based on the approach adopted: the execution of extracorporeal versus intracorporeal anastomosis. In turn, the surgical team can perform the latter with laparoscopic or robotic assistance. However, the question is, how should a robotic esophagojejunal anastomosis be performed after total gastrectomy? Most articles in the literature have reported the execution of mechanical anastomoses [1] [2] [3] [4] [5] [6], especially with circular staplers via the creation of a manual purse-string around the anvil. Other solutions have described the use of the Orvil or the overlap technique. Only three authors have reported intracorporeal sutures with a completely robotic-sewn anastomosis [7] [8] [9]. A new robotic technique (the Parisi technique) was developed and adopted at St. Mary’s Hospital, Terni, Italy. A double-loop reconstruction method with an intracorporeal robot-sewn anastomosis is performe