Algorithms for Optimal Paths of One, Many, and an Infinite Number of Agents

In this dissertation, we provide efficient algorithms for modeling the behavior of a single agent, multiple agents, and a continuum of agents. For a single agent, we combine the modeling framework of optimal control with advances in optimization splitting in order to efficiently find optimal paths for problems in very high-dimensions, thus providing alleviation from the curse of dimensionality. For a multiple, but finite, number of agents, we take the framework of multi-agent reinforcement learning and utilize imitation learning in order to decentralize a centralized expert, thus obtaining optimal multi-agents that act in a decentralized fashion. For a continuum of agents, we take the framework of mean-field games and use two neural networks, which we train in an alternating scheme, in order to efficiently find optimal paths for high-dimensional and stochastic problems. These tools cover a wide variety of use-cases that can be immediately deployed for practical applications

Essays on the informativeness of earnings

University of Technology Sydney. Faculty of Business.This dissertation consists of three stand-alone but related essays in the broad area of earnings information and capital markets. The first paper examines the speed with which earnings information (as proxied by analysts’ earnings forecast updates) finds its way into the market place. Rather than examining the efficiency of the stock market per se, this essay effectively provides novel evidence on the extent to which the market for Australian firms’ earnings-related information is efficient. The second essay considers the extent to which statutory financial reporting provides timely information for Australian firms. This essay uses a method which has the important advantage of avoiding the need to specify ex-ante earnings expectations and is therefore focussed around how much periodic stock price variability is attributable to the specific windows (i.e., periods) around which earnings are released. The third and final essay applies this same methodology to considering whether the frequency of statutory reporting (i.e., semi-annual versus quarterly) is systematically associated with the informativeness of these disclosures and uses data from member countries of the G20

Developing a collaborative project on higher education pedagogy: The institutional, organizational, and community identity dimensions of student staff partnerships

This case study presents an ambitious student-staff partnership project at University College London (UCL) to publish a collaborative book on higher education pedagogy. Over two-and-a-half years, a total of 86 students and staff contributed to the project, which sought to provide educators with a new type of scholarly material under the unifying theme of connecting research and teaching. Multiple layers of student-staff partnership were interwoven throughout the project; this case study contextualizes these layers against three dimensions: institutional, organizational, and community identity. Central to the project was our distinctive approach to engaging with Graduate Teaching Assistants (GTAs) and their crucial role in bringing the three dimensions together. As such, the project represents a model of enhanced student-staff partnership that has the capacity to empower students and break down educational silos to form new, multi-specialty learning communities.</jats:p

Valuation of Kellogg Co.

Treballs de l'alumnat del grau d'Administració i Direcció d'Empreses, Facultat d'Economia i Empresa. Assignatura: Finances Corporatives SEM. 2. Curs: 2016-2017. Tutora: Yuliya KasperskayaThis report is the result of the final work of Corporate Finance course (fall 2016-2017). Using the methods of valuation studied in class we estimated the equity value of Kellogg Co., an American multinational food manufacturing company at the end of December of 2016. The report is structured in five different parts: introduction, estimation of the cost of capital using the WACC method, valuation of the company using the multiples method, valuation of the company using the Discounted Cash Flow method and conclusion. Our results show that different valuation methods gave estimations close to the market price. While the multistage dividend model and multiples methods give the results bellow the market prices, the DCF method is approaching more closely the market valuation

A state-level study of opioid use disorder treatment access and neonatal abstinence syndrome

Background Adult opioid use and neonatal abstinence syndrome (NAS) are growing public health problems in the United States (U.S.). Our objective was to determine how opioid use disorder treatment access impacts the relationship between adult opioid use and NAS. Methods We conducted a cross-sectional state-level ecologic study using 36 states with available Healthcare Cost and Utilization Project State Inpatient Databases in 2014. Opioid use disorder treatment access was determined by the: 1) proportion of people needing but not receiving substance use treatment, 2) density of buprenorphine-waivered physicians, and 3) proportion of individuals in outpatient treatment programs (OTPs). The incidence of NAS was defined as ICD-9 code 779.5 (drug withdrawal syndrome in newborn) from any discharge diagnosis field per 1000 live births in that state. Results Unmet need for substance use disorder treatment correlated with NAS (r = 0.54, 95% CI: 0.26–0.73). The correlation between adult illicit drug use/dependence and NAS was higher in states with a lower density of buprenorphine-waivered physicians and individuals in OTPs. Conclusions Measures of opioid use disorder treatment access dampened the correlation between illicit drug use/dependence and NAS. Future studies using community- or individual-level data may be better poised to answer the question of whether or not opioid use disorder treatment access improves NAS relative to adult opioid use