On the Construction of Substitutes

Gross substitutability is a central concept in Economics and is connected to important notions in Discrete Convex Analysis, Number Theory and the analysis of Greedy algorithms in Computer Science. Many different characterizations are known for this class, but providing a constructive description remains a major open problem. The construction problem asks how to construct all gross substitutes from a class of simpler functions using a set of operations. Since gross substitutes are a natural generalization of matroids to real-valued functions, matroid rank functions form a desirable such class of simpler functions. Shioura proved that a rich class of gross substitutes can be expressed as sums of matroid rank functions, but it is open whether all gross substitutes can be constructed this way. Our main result is a negative answer showing that some gross substitutes cannot be expressed as positive linear combinations of matroid rank functions. En route, we provide necessary and sufficient conditions for the sum to preserve substitutability, uncover a new operation preserving substitutability and fully describe all substitutes with at most 4 items

The State of Impact Investing in Latin America

This report lays out an assessment of the current landscape, some of the critical challenges ahead and the likely path forward over the next five 5 to 10 years on impact investing in Latin America

Approximate dual representation for Yang-Mills SU(2) gauge theory

An approximate dual representation for non-Abelian lattice gauge theories in terms of a new set of dynamical variables, the plaquette occupation numbers (PONs) that are natural numbers, is discussed. They are the expansion indices of the local series of the expansion of the Boltzmann factors for every plaquette of the Yang-Mills action. After studying the constraints due to gauge symmetry, the SU(2) gauge theory is solved using Monte Carlo simulations. For a PONs configuration the weight factor is given by Haar-measure integrals over all links whose integrands are products of powers of plaquettes. Herein, updates are limited to changes of the PON at a plaquette or all PONs on a coordinate plane. The Markov chain transition probabilities are computed employing truncated maximal trees and the Metropolis algorithm. The algorithm performance is investigated with different types of updates for the plaquette mean value over a large range of $\beta$s. Using a $12^4$ lattice very good agreement with a conventional heath bath algorithm is found for the strong and weak coupling limits. Deviations from the latter being below 0.1% for $2.5 < \beta < 3$. The mass of the lightest $J^{PC}=0^{++}$ glueball is evaluated and reproduces the results found in the literature