They focused on revenue and profit maximization, not cost control.
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So they're more worried about profit maximization than actually stock stabilization.
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The goal is the optimization and maximization of the world economy.
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Entropy maximization has long been thought to be a trait of nonequilibrium systems.
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"The standard behavior of Wall Streeters is to pursue maximization of self-interest."
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Decisions should be based on what benefits all, not the maximization of profit.
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The company's mission is not profit maximization but providing quality home care at living wages.
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So how do we stop these endless maximization spirals that prevent us from making decisions?
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The separation of that stake is the most direct path we have to value maximization.
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Kahneman and Tversky and Thaler and so on deserved all the honors they received for helping to document the specific ways in which utility maximization falls short, but even before their work we should never have expected perfect maximization to be a good description of reality.
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The goal was to compare an agent driven by active inference to one driven by reward-maximization.
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Despite being in the height maximization business, even Yoon seems to agree that being tall isn't everything.
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In the 1980s, Friedman became an advisor to President Ronald Reagan, baking shareholder maximization into national policy.
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No. Does it mean we can only find earthly fulfillment through profit-maximization rather than joy-optimization?
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Microeconomic theory, grounded in rigorous derivation of individual behavior from utility maximization, was taken as the gold standard.
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We break down the market into the core HR functional areas of talent acquisition, talent maximization and HR administration.
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In some scenarios, especially early on, companies decide to focus on customer acquisition at the expense of revenue maximization.
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Wages have remained stagnant for the past 40 years, the same time period of profit maximization at all costs.
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So, that's-- that-- that short-termism, that-- that profit maximi-- profit maximization, I think is creating a less sustainable company.
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It's important here to note that the objective is wealth maximization at the fund level, not at a single company level.
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The accuracy and bias are estimated using a statistical procedure that employs an expectation maximization algorithm with a prior for class grades.
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I can assure you: Maximization of short-term returns at the cost of the future of the company is not our goal.
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"If this new model of resource maximization succeeds, it won't just put extra money in the pockets of everyday people," she wrote.
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Separating our Alibaba stake from our operating business continues to be a primary focus, and our most direct path to value maximization.
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Hating Trump together has become the ultimate bonding, attention-grabbing and profit-maximization mechanism for those of us in anti-Trump world.
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Profit maximization alone—not to mention the consciences of some CEOs—puts big business these days on the side of inclusion and tolerance.
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Installing worker representatives on boards occludes the crystal-clear objective of profit maximization with nebulous "responsibility" objectives that may be impossible to quantify.
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Meritocracy is a system built on the maximization of individual talent, and that system unwittingly encourages several ruinous beliefs: Exaggerated faith in intelligence.
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" Then that was the age of Milton Friedman, saying, "You know, corporations, you have to focus on profit maximization, just on your shareholders.
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His 1957 article "The Simple Analytics of Welfare Maximization" became a standard tool for teaching microeconomics, or the economic impact of individual decision-making.
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By the early 22014s, OPEC members had obtained complete ownership of production on their territories and the focus shifted more explicitly to revenue maximization.
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Past generations of executives more regularly consulted with (and lived among) those different and rivalrous stakeholders who prioritized any number of considerations over profit maximization.
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Posner adopted his wealth-maximization theory at the same moment in which, as we now know, market-oriented public policies began to exacerbate socioeconomic inequality.
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In Strickler's telling, our society has been so thoroughly captured by the value-system of financial maximization, that we don't even view it as such.
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It's also a clash of cultures and of differing visions of capitalism: Anglo-Saxon profit maximization pitted against Germany's long-term focused social market economy model.
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African Americans must be skeptical of both parties, while spreading their influence by voting, and enable the maximization of their political power, while preserving their interests.
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" The great Nobel laureate's article reflected "significant ideological blinders," he says; "goals other than simple profit maximization often end up boosting both business and social profits.
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The stranglehold of this doctrine of "shareholder-value maximization" over corporate decision making has been a leading cause of inequitable incomes, unstable employment, and sagging productivity.
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Regulation by market forces — that is, by competition and profit maximization — tends to produce goods and services that both the customer and company are happy with.
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The maximization of engagement rather than pleasure has been a hugely transformative and not-for-the-better shift in the way we do application and technology design.
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Corporate leaders today are steeped in a culture of self-interest and wealth maximization, not the public-mindedness needed to be virtuous stewards of the common good.
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He expects U.S. rates to rise gradually, and said the Fed is close to achieving its dual mandate of 2 percent longer-run inflation and maximization of employment.
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At its base, and like its close cousin, the idea of "shareholder value maximization," the use of market-capitalization benchmarks is the negative spillover of the efficient market hypothesis.
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But all of that spec maximization would be for nothing if Razer hadn't handled the fundamentals of input well, and that's where the company's new Blade Pro truly shines.
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At the current time, the neutrality and profit maximization objectives of social media platforms have turned their precision targeting algorithms into weapons that pose grave threats to open democracies.
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Tim Gabbett, an Australian sports scientist, has been working in injury prevention and performance maximization for 20 years, and has published over 150 peer-reviewed articles on these subjects.
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And we've seen time and time again that nationalization can be a really powerful tool to reorient business toward the social good rather than short-term maximization of profit.
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Most economics courses taken by first-year college students cover the textbook tools — supply and demand curves, the theory of comparative advantage, the analysis of profit maximization, and so on.
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But when it comes to nicotine addiction, legislators are implementing policies of harm maximization: Banning sale of e-cigarettes virtually guarantees that many vapers will go back to their Marlboros.
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These two extreme objective functions – unconstrained profit maximization and state control – lead to the same result: The ceding of free will to AI algorithms that control us overtly or covertly.
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If we turn to "development," we often see that what is sustained in sustainable development is cost-effectiveness and profit-maximization, with the minimum action necessary in terms of environmental responsibility.
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"Non-speculative, asset-backed trading is going to be central to our overall trading and value maximization effort," al-Jaber said, although no decision had been taken yet on a structure.
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"The research clearly shows that the overwhelming priority of retail investors is value maximization — the exact same goal of the companies who make up the members of our partners," he said.
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The answer, however counterintuitive, is that the appropriate policy goal is not merely the minimization of that likelihood, that is, maximization of preventative action on the part of the nuclear owners.
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"As these funds have a mix of mainly liquid assets and some less liquid assets, GAM is focused on ensuring balance between value maximization with the speed of liquidation," it said.
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It's all about shareholders and profit maximization, that's what companies do — which is why companies need to be regulated ... so they're never going outside the boundaries of what is morally acceptable.
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Purism is a new player in the computer hardware space; it registered as a social purpose corporation in 2017, meaning it considers company mission when making decisions rather than just profit maximization.
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But strip away the trappings of Google's legendary origins or Atari's madcap office culture, and you have familiar stories of employers versus employees, the maximization of profit, and the pursuit of power.
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They've always been my ultimate podcast game, with just enough combo complexity to make maximization a fun task, with just the right sort of progression systems to make long term character growth pleasing.
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No, I think America has a tradition of not having workers on the boards and if you succumb to that you're seen as weak and you want people who are there for profit maximization.
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Instead it leaves critical moral judgments with real consequences in the tenuous hands of self-interested economic actors whose guiding light is the maximization of their own benefit, without consideration for the effects on others.
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This isn't the same thing as saying that we must have "microfoundations" in the sense that everyone is maximizing; often people don't, and a lot of sensible economics involves just accepting some limits to maximization.
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Presented with a clear demonstration by the economist Carl Shapiro of how AT&T's bargaining power would increase after the merger, Judge Leon opted to assume that AT&T was not interested in profit maximization.
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But what we are saying here, we believe under ERISA and maximization of return, we believe it will be -- a portfolio that focuses on sustainability and climate change will be a portfolio that will outperform.
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Sen. Elizabeth Warren took JPMorgan Chase chief Jamie Dimon and the Business Roundtable to task over the association's commitment in August to "redefine" the purpose of a corporation to extend beyond the maximization of shareholder profits.
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Elizabeth Warren is taking J.P. Morgan Chairman and CEO Jamie Dimon and the Business Roundtable to task over its August commitment to "redefine" the purpose of a corporation to extend beyond the maximization of shareholder profits.
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"We face a form of capitalism that has hardened its focus to short-term profit maximization with little or no apparent interest in social good," Jeremy Grantham, co-founder of global investment manager GMO, wrote last August.
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EMH found itself betrothed to the allied idea of shareholder value maximization, that companies exist solely to enrich their owners and that the market is the guiding north star in navigating how best that can be done.
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Netflix said it "is optimizing for fan and viewer engagement over revenue maximization," with those efforts, including its co-marketing deals with companies like Coca-Cola, Burger King, and Baskin-Robbins around the recent return of "Stranger Things."
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Within its three major business segments – Express, Ground and Freight – the company has proven extremely adept at managing package volumes and yields to optimize profits and returns rather than focusing simply on yield, package volume or revenue maximization.
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The bigger story here is, you know, I write about this in the new book, the neoliberal paradigm, the idea that we're moving into — this is back in the 221s — we're moving into a shareholder value-maximization universe.
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We could have done more of what China did and what the European Union did, kind of subsidize companies that were hurting, but much more than that, we have this philosophy of profit maximization with focus on shareholders.
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Elizabeth Warren took J.P. Morgan (JPM) Chase Chairman CEO Jamie Dimon and the Business Roundtable to task over the business association's August commitment to "redefine" the purpose of a corporation to extend beyond the maximization of shareholder profits.
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The Edgeworth box is good for explaining what it takes to be efficient in production and also efficient in distribution — I learned all of this from the classic Francis Bator paper on welfare maximization — but is just too hard for freshpeople.
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And for all that Facebook's meddling with Instagram and WhatsApp seems to be driven by straightforward ad-revenue-maximization considerations, it's worth saying that Facebook isn't really answerable to shareholders and that its explicit ideology rejects shareholder value as a goal.
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And now finally, again, all these years later, decades later, we're finally getting the critiques of exactly the destruction and devastation wrought by that shareholder value-maximization paradigm that has had everybody by the throat for so long and ... Well. Okay.
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She wants to require corporations to include worker representatives on their boards — to end the era of "shareholder-value maximization," in which companies care almost exclusively about the interests of their shareholders, often at the expense of their workers, their communities and their country.
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Range doesn't look good in Griswold's account, but at least the avarice of a corporation bent on profit maximization isn't all that surprising; what's more astonishing is the failure of the state government to regulate the company properly, and to protect the people under its watch.
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No. Even before the rise of behavioral economics, any halfway self-aware economist realized that utility maximization – indeed, the very concept of utility — wasn't a fact about the world; it was more of a thought experiment, whose conclusions should always have been stated in the subjunctive.
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LARRY FINK: Well, I, as a fiduciary, and especially in the United States living under the rules of ERISA, where you're required to only focus on the maximization of return, those climate people who believe we have to save the planet, I understand what they're saying.
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For those who are married, these can be narrowed down to 10 to 15 major strategies, according to Marc Kiner, a CPA and owner of Premier Social Security Consulting and co-founder of the National Social Security Association, which offers the NSSA certificate program in Social Security maximization.
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Activision Blizzard, like most of corporate America, does not have the courage to call this what it is: the ruination of lives in service of endless growth and profit maximization to serve the ultra rich becoming the mega rich at the expense of an exploitable underclass with no power to stop every effort to undermine them.
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The only way you might see some immediate wage gains would be if two things were true: companies aren't in a highly competitive environment – they have some freedom to set wages – and they have some interest beyond profit maximization in keeping workers happy, either out of the goodness of their hearts or because management doesn't like being hated.
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Which is that the way our law is around the mandates of profit maximization and the religion of this very specific American capitalism that has come out of that is it has been doing the exact same thing we fear, which is that people go and work inside organizations that are telling them that you have to maximize.
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Tech Takes Charge Elon Musk and Stephen Hawking are among 8,600 people who have signed an open letter about the potential dangers of AI. The letter describes the need for safeguards to ensure that AI is positive rather than neutral in respect to purpose, but it also calls for the maximization of the societal benefit of AI. In short, it calls for social responsibility.
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Give a little walk back in history, because you're talking about this new book, is what ... This was not ... The corporate profit maximization was a relatively new thing, because what they're going back to, what they're talking about is how it used to be, that corporations felt they had some sort of relationship with the employees, with the community, with the country, and everything like that.
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But really cut back the amount of hours we work to a four-day week or three days a week, and if things were run in a more sensible way that really served people rather than profit maximization, you know, people could have more time to relax, more time with their families, more time to go on vacation, more time to take care of their aging parents.
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" Related: Obama Halts New Coal Mining Leases on Federal Lands In its own court filings, Alpha argued that the million dollar bonuses to executives were necessary not only for "retentive effect," but that they were narrowly tailored to incentivize the retention of key employees "who are vital to the Debtor's successful restructuring and the maximization of value for the benefit of all parties in interest.
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In 2016 Kerner developed an application of the breakdown minimization principle called network throughput maximization approach. Kerner's network throughput maximization approach is devoted to the maximization of the network throughput while keeping free flow conditions in the whole network.
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The utility maximization problem is a constrained optimization problem in which an individual seeks to maximize utility subject to a budget constraint. Economists use the extreme value theorem to guarantee that a solution to the utility maximization problem exists. That is, since the budget constraint is both bounded and closed, a solution to the utility maximization problem exists. Economists call the solution to the utility maximization problem a Walrasian demand function or correspondence.
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A MAP can be fitted using an expectation–maximization algorithm.
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The utility maximization problem is the heart of consumer theory. The utility maximization problem attempts to explain the action axiom by imposing rationality axioms on consumer preferences and then mathematically modeling and analyzing the consequences. The utility maximization problem serves not only as the mathematical foundation of consumer theory but as a metaphysical explanation of it as well. That is, the utility maximization problem is used by economists to not only explain what or how individuals make choices but why individuals make choices as well.
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Mechanism design is the subarea of economics that deals with optimization under incentive constraints. Algorithmic mechanism design considers the optimization of economic systems under computational efficiency requirements. Typical objectives studied include revenue maximization and social welfare maximization.
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Special cases include variational filtering, dynamic expectation maximization and generalized predictive coding.
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See Krause, Andreas, and Daniel Golovin. "Submodular function maximization." (2014): 71-104. for an overview.
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Among his contributions to statistics are the Dempster–Shafer theory and the expectation-maximization (EM) algorithm.
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The Expectation-maximization algorithm can be used to compute the parameters of a parametric mixture model distribution (the ai and θi). It is an iterative algorithm with two steps: an expectation step and a maximization step. Practical examples of EM and Mixture Modeling are included in the SOCR demonstrations.
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Itself can be extended into the Expectation conditional maximization either (ECME) algorithm. This idea is further extended in generalized expectation maximization (GEM) algorithm, in which is sought only an increase in the objective function F for both the E step and M step as described in the As a maximization-maximization procedure section. GEM is further developed in a distributed environment and shows promising results. It is also possible to consider the EM algorithm as a subclass of the MM (Majorize/Minimize or Minorize/Maximize, depending on context) algorithm,Hunter DR and Lange K (2004), A Tutorial on MM Algorithms, The American Statistician, 58: 30-37 and therefore use any machinery developed in the more general case.
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The proposed algorithm uses Lloyd- style iteration which alternates between an expectation (E) and maximization (M) step, making this an expectation–maximization algorithm. In the E step, all objects are assigned to their nearest median. In the M step, the medians are recomputed by using the median in each single dimension.
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In machine learning and statistics, EM (expectation maximization) algorithm handles latent variables, while GMM is the Gaussian mixture model.
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The association is meant to streamline Taekwondo / Martial Arts across the nation for output maximization in terms of performing athletes.
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1262) was developed in response to some logical concerns (e.g., Blau's Dilemma) with reliability-based design optimization. This approach focuses on maximizing the joint probability of both the objective function exceeding some value and of all the constraints being satisfied. When there is no objective function, utility-based probability maximization reduces to a probability-maximization problem.
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Audi, Robert. 2007. "Can Utilitarianism Be Distributive? Maximization and Distribution as Criteria in Managerial Decisions." Business Ethics Quarterly 17(4):593–611.
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Trump's goal is to achieve "energy dominance," or the maximization of the production of fossil fuels for domestic use and for exports.
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There has also been staunch support for profit maximization rather than satisficing behaviour, which is one of the core elements of the model.
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Consistent probabilistic social choice. Econometrica. 84(5), pages 1839-1880, 2016. participation,F. Brandl, F. Brandt, and J. Hofbauer. Welfare Maximization Entices Participation.
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Police interrogation tactics can be classified into two general categories: maximization and minimization. Maximization techniques involve eliciting information from the suspect by emphasizing potential consequences for refusing to admit guilt, presenting false evidence, or accusing the suspect of having committed the act. Minimization techniques entail minimizing the suspect's hand in the crime and the associated consequences of his or her actions for the purposes of eliciting a confession. As a maximization tactic inspired by the Reid technique, presupposition-bearing questions (PBQs) are questions that interrogators may use to indirectly gain from suspects confirmation of incriminating information.
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Retail enterprises should pursue long- term mutual benefit maximization rather than a single transaction sales profit maximization. This requires large retail enterprises to establish a customer- oriented trading relationship with the customer relationship market. Retail stores are typically located where market opportunities are optimal – high traffic areas, central business districts. Selecting the right site can be a major success factor.
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If a numerical solution is desired, an iterative technique such as Newton's method can be used. Alternatively, the expectation–maximization algorithm can be used.
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But Zaman argues that the utility maximization is also a norm. Zaman is of the view that social sciences should be built around Islamic principals.
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Phys Med Biol. 2006; 51(15):R541-78. The Maximum Likelihood Expectation Maximization algorithmLange K, et al. EM reconstruction algorithms for emission and transmission tomography.
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Some scholars believe that a new decision theory needs to be built from the ground up. Philosopher Christopher Meacham proposes "Cohesive Expected Utility Maximization": An agent "should perform the act picked out by a comprehensive strategy which maximizes cohesive expected utility". Meacham also proposes this can be extended to "Global Cohesive Expected Utility Maximization" to enable superrationality-style cooperation between agents.Soares, Nate, and Benja Fallenstein.
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A number of methods have been proposed to accelerate the sometimes slow convergence of the EM algorithm, such as those using conjugate gradient and modified Newton's methods (Newton–Raphson). Also, EM can be used with constrained estimation methods. Parameter-expanded expectation maximization (PX-EM) algorithm often provides speed up by "us[ing] a `covariance adjustment' to correct the analysis of the M step, capitalising on extra information captured in the imputed complete data". Expectation conditional maximization (ECM) replaces each M step with a sequence of conditional maximization (CM) steps in which each parameter θi is maximized individually, conditionally on the other parameters remaining fixed.
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He is a standing member of NASA's Life Sciences Advisory Subcommittee, and served as a member of the Research Maximization and Prioritization (ReMAP) Taskforce in 2002.
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It is, however, still presumed that the silk wrapping is a trait evolved in males for an advantage in sexual selection and a maximization of reproductive fitness.
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Profit maximization requires that a firm produces where marginal revenue equals marginal costs. Firm managers are unlikely to have complete information concerning their marginal revenue function or their marginal costs. However, the profit maximization conditions can be expressed in a “more easily applicable form”: :MR = MC, :MR = P(1 + 1/e), :MC = P(1 + 1/e), :MC = P + P/e, :(P - MC)/ P = –1/e.Pindyck, R & Rubinfeld, D (2001) p. 334.
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The BLOCKS server provides an interactive method to locate such motifs in unaligned sequences. Statistical pattern-matching has been implemented using both the expectation- maximization algorithm and the Gibbs sampler. One of the most common motif- finding tools, known as MEME, uses expectation maximization and hidden Markov methods to generate motifs that are then used as search tools by its companion MAST in the combined suite MEME/MAST.
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Algorithmic mechanism design (AMD) lies at the intersection of economic game theory, optimization, and computer science. The prototypical problem in mechanism design is to design a system for multiple self-interested participants, such that the participants' self-interested actions at equilibrium lead to good system performance. Typical objectives studied include revenue maximization and social welfare maximization. Algorithmic mechanism design differs from classical economic mechanism design in several respects.
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Parameter estimation is done by comparing the actual covariance matrices representing the relationships between variables and the estimated covariance matrices of the best fitting model. This is obtained through numerical maximization via expectation–maximization of a fit criterion as provided by maximum likelihood estimation, quasi-maximum likelihood estimation, weighted least squares or asymptotically distribution-free methods. This is often accomplished by using a specialized SEM analysis program, of which several exist.
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In mathematical optimization, the ordered subset expectation maximization (OSEM) method is an iterative method that is used in computed tomography. In applications in medical imaging, the OSEM method is used for positron emission tomography, for single photon emission computed tomography, and for X-ray computed tomography. The OSEM method is related to the expectation maximization (EM) method of statistics. The OSEM method is also related to methods of filtered back projection.
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The relationship between the utility function and Marshallian demand in the utility maximization problem mirrors the relationship between the expenditure function and Hicksian demand in the expenditure minimization problem.
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Its goal is not primarily profit maximization but the economic support of members and customers. The bank is a member in the Bundesverband der Deutschen Volksbanken und Raiffeisenbanken (BVR).
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The natural borrowing limit is one type of restriction imposed on the consumer utility maximization problem in the economics. In the standard consumer utility maximization problem of the economic agent, she maximizes utility by consuming goods. In making an optimal consumption decision, she has to conform to the budget constraint she faces. In other words, she cannot consume more than the net of the income, amount of money she borrows, and debt repayment.
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Laird received her PhD from Harvard University in 1975 under Arthur Dempster. Laird is well known for many seminal papers in biostatistics applications and methods, including the Expectation-maximization algorithm.
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Although a tariff can simultaneously protect domestic industry and earn government revenue, the goals of protection and revenue maximization suggest different tariff rates, entailing a tradeoff between the two aims.
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Such value creation must be in accord with the principles of Islamic transaction (e.g. harm minimization). There are five principles of Islamic transaction: \- P1. Harm minimization and benefit maximization \- P2.
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FL Studio is bundled with a variety of sound processing effects, including common audio effects such as chorus, compression, distortion, delay, flanger, phaser, reverb, gate, equalization, vocoding, maximization, and limiting.
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The word "corner" refers to the fact that if one graphs the maximization problem, the optimal point will occur at the "corner" created by the budget constraint and one axis.
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The entropic risk measure is the prime example of a convex risk measure which is not coherent. Given the connection to utility functions, it can be used in utility maximization problems.
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Customer value maximization (CVM) is a real-time service model that, proponents say, goes beyond basic customer relationship management (CRM) capabilities, identifying and capturing maximum potential from prospects and existing customers.
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Under this approach, the Euler equations of the utility maximization problem are linearized around the stationary steady state. A unique solution to the resulting system of dynamic equations then is found.
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This table can be learnt based on word-alignment, or directly from a parallel corpus. The second model is trained using the expectation maximization algorithm, similarly to the word-based IBM model.
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Iterative algorithms based upon expectation maximization are most commonly used, but are computationally intensive. Some manufacturers have produced practical systems using off-the-shelf GPUs to perform the reconstruction in a few seconds.
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Hipster Antitrust refers to the movement to shift the focus of United States antitrust law from the maximization of consumer welfare to include other goals, such as income inequality, unemployment, and wage growth.
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He was greatly influenced by the marginalist debate that began in the 1930s. The popular work of the time argued that it was not apparent empirically that entrepreneurs needed to follow the marginalist principles of profit- maximization/cost-minimization in running organizations. The argument went on to note that profit maximization was not accomplished, in part, because of the lack of complete information. In decision-making, Simon believed that agents face uncertainty about the future and costs in acquiring information in the present.
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Several different tracking modes are used in operations, ranging from full Sun-tracking, to the drag-reduction mode (night glider and Sun slicer modes), to a drag- maximization mode used to lower the altitude.
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As in other Bayesian methods — but unlike e.g. in expectation maximization (EM) or other maximum likelihood methods — both types of unobserved variables (i.e. parameters and latent variables) are treated the same, i.e. as random variables.
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In 1993, Black and Jepson used mixture models to represent optical flow fields with multiple motions (also called "layered" optical flow). This introduced the use of Expectation Maximization (EM) to the field of computer vision.
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Zaman says that when there is conflict in data and reality, one should go into the field to find the reasons for the mismatch. Zaman is a vocal critique of western methodology of social sciences. He says that the western social sciences pretend to be positive but in fact there is a normative background behind every theory an concept of social sciences. For example, utility maximization provides the basis for development of economics and it is believed that the utility maximization has nothing to do with norms.
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The neoclassical model assumes a one-period utility maximization for a consumer and one-period profit maximization by a producer. The adjustment that occurs within that single time period is a subject of considerable debate within the field, and is often left unspecified. A time-series path in the neoclassical model is a series of these one-period utility maximizations. In contrast, a recursive model involves two or more periods, in which the consumer or producer trades off benefits and costs across the two time periods.
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Unlike the single-center statistics, this multi-center clustering cannot in general be computed in a closed-form expression, and instead must be computed or approximated by an iterative method; one general approach is expectation–maximization algorithms.
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5, 21-29. There Samuelson identifies qualitative restrictions and the hypotheses of maximization and stability of equilibrium as the three fundamental sources of meaningful theorems — hypotheses about empirical data that could conceivably be refuted by empirical data.
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Because these models all reflect that regulators and legislators are not pursuing the maximization of public interests, but the maximization of private interests, that is, using "private interest" theory to explain the origin and purpose of regulation. Aton (1986) argues that Stigler's theoretical logic is clear and more central than the previous "capture theory" hypothesis, but it is difficult to distinguish between the two. Regulatory capture theory has a specific meaning, that is, an experience statement that regulations are beneficial for producers in real life. In fact, it is essentially not a true regulatory theory.
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The manner in which the common good is best subserved is not a matter that can be measured by any constitutional yardstick — it depends on the economic and political philosophy of the government. Revenue maximization is not the only way in which the common good can be subserved. Where revenue maximization is the object of a policy, being considered qua that resource at that point of time to be the best way to subserve the common good, auction would be one of the preferable methods, though not the only method.
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For instance, better Euclidean solutions can be found using k-medians and k-medoids. The problem is computationally difficult (NP-hard); however, efficient heuristic algorithms converge quickly to a local optimum. These are usually similar to the expectation-maximization algorithm for mixtures of Gaussian distributions via an iterative refinement approach employed by both k-means and Gaussian mixture modeling. They both use cluster centers to model the data; however, k-means clustering tends to find clusters of comparable spatial extent, while the expectation-maximization mechanism allows clusters to have different shapes.
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"Submodular maximization with cardinality constraints." Proceedings of the twenty-fifth annual ACM-SIAM symposium on Discrete algorithms. Society for Industrial and Applied Mathematics, 2014. are imposed on the output, though often slight variations on the greedy algorithm are required.
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Foreign currency, market imperfections, enhanced opportunity sets and political risks are four broader heads under which IFM can be differentiated from financial management (FM). The goal of IFM is not only limited to maximization of shareholders but also stakeholders.
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The Xinerama extension provides clients with information about the layout of viewports within the unified workspace. Its information regarding offset and size information allows clients to make intelligent decisions about window placement, window maximization and other user interaction events.
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In a similar procedure to how the normal distribution can be derived using the standard Boltzmann–Gibbs entropy or Shannon entropy, the q-Gaussian can be derived from a maximization of the Tsallis entropy subject to the appropriate constraints.
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"FIRA: Instrument of Regulation or Vote-Maximization"; Pauwels, Jacques R. 23 Osgoode Hall L. J. 131 (1985) The business community and opposition Progressive Conservative Party criticized FIRA for its activism, saying it had stifled investment from the emerging global economy.
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Exercising TDD on large, challenging systems requires a modular architecture, well-defined components with published interfaces, and disciplined system layering with maximization of platform independence. These proven practices yield increased testability and facilitate the application of build and test automation.
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But one really requires average numbers. These average numbers can be obtained by the Darwin–Fowler method. Of course, for systems in the thermodynamic limit (large number of particles), as in statistical mechanics, the results are the same as with maximization.
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The price that induces that quantity of output is the height of the demand curve at that quantity (denoted Pm). In an environment that is competitive but not perfectly so, more complicated profit maximization solutions involve the use of game theory.
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Expansion of the objectives of trust solely depends upon the procurement of fund. The trust anyhow managed the pilot projects by different means. For expansion and maximization of the reach of federation fund raising has proved to be a big challenge.
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In statistics and econometrics, extremum estimators are a wide class of estimators for parametric models that are calculated through maximization (or minimization) of a certain objective function, which depends on the data. The general theory of extremum estimators was developed by .
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In mathematical optimization, ordinal optimization is the maximization of functions taking values in a partially ordered set ("poset").Dietrich, B. L.; Hoffman, A. J. On greedy algorithms, partially ordered sets, and submodular functions. IBM J. Res. Dev. 47 (2003), no.
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And cf. Knut Wicksell’s ‘provisional conclusion that free competition is normally a sufficient condition to ensure maximization of production’, ‘Lectures on Political Economy’ I (1906), Eng. tr. (1934), p. 141. If so, he was relying on a fairly strong premise.
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The distributions derived thus have close resemblance with those found in empirical cases of income/wealth distributions. Though this theory has been originally derived from the entropy maximization principle of statistical mechanics, it has recently been shown that the same could be derived from the utility maximization principle as well, following a standard exchange-model with Cobb-Douglas utility function. The exact distributions produced by this class of kinetic models are known only in certain limits and extensive investigations have been made on the mathematical structures of this class of models. The general forms have not been derived so far.
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In spite of its known drawbacks, one of the most widely used methods for community detection is modularity maximization. Modularity is a benefit function that measures the quality of a particular division of a network into communities. The modularity maximization method detects communities by searching over possible divisions of a network for one or more that have particularly high modularity. Since exhaustive search over all possible divisions is usually intractable, practical algorithms are based on approximate optimization methods such as greedy algorithms, simulated annealing, or spectral optimization, with different approaches offering different balances between speed and accuracy.
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The revival of subjective probability theory, from the work of Frank Ramsey, Bruno de Finetti, Leonard Savage and others, extended the scope of expected utility theory to situations where subjective probabilities can be used. At the time, von Neumann and Morgenstern's theory of expected utility proved that expected utility maximization followed from basic postulates about rational behavior. The work of Maurice Allais and Daniel Ellsberg showed that human behavior has systematic and sometimes important departures from expected-utility maximization. The prospect theory of Daniel Kahneman and Amos Tversky renewed the empirical study of economic behavior with less emphasis on rationality presuppositions.
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Hence, depending on the type of borrowing limits imposed on the utility maximization, consumers might end up having different levels of utility even if their current discounted value of their incomes are identical. Revisiting above example of the law students, assume law students are only allowed to borrow $100,000 while they are students. Then they have to reduce their cost of living and will suffer from lower utility than they could have when they are allowed to borrow up to the natural borrowing limit. Readers who are familiar with economics will get better understanding by reading below example of the utility maximization problem.
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If the objective function is concave (maximization problem), or convex (minimization problem) and the constraint set is convex, then the program is called convex and general methods from convex optimization can be used in most cases. If the objective function is quadratic and the constraints are linear, quadratic programming techniques are used. If the objective function is a ratio of a concave and a convex function (in the maximization case) and the constraints are convex, then the problem can be transformed to a convex optimization problem using fractional programming techniques. Several methods are available for solving nonconvex problems.
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Different schools of thought have developed for solving MCDM problems (both of the design and evaluation type). For a bibliometric study showing their development over time, see Bragge, Korhonen, H. Wallenius and J. Wallenius [2010]. Multiple objective mathematical programming school (1) Vector maximization: The purpose of vector maximization is to approximate the nondominated set; originally developed for Multiple Objective Linear Programming problems (Evans and Steuer, 1973; Yu and Zeleny, 1975). (2) Interactive programming: Phases of computation alternate with phases of decision-making (Benayoun et al., 1971; Geoffrion, Dyer and Feinberg, 1972; Zionts and Wallenius, 1976; Korhonen and Wallenius, 1988).
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Human beings may, for > example, be unable to make choices consistent with pleasure maximization due > to social constraints and/or coercion. Humans may also be unable to > correctly assess the choice points that are most likely to lead to maximum > pleasure, even if they are unconstrained (except in budgetary terms) in > making such choices. And it is also possible that the notion of pleasure > seeking is itself a meaningless assumption because it is either impossible > to test or too general to refute. Economic theories that reject the basic > assumption of economic decisions as the outcome of pleasure maximization are > heterodox.
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Problems in APX are those with algorithms for which the approximation ratio f(n) is a constant c. The approximation ratio is conventionally stated greater than 1. In the case of minimization problems, f(n) is the found solution's score divided by the optimum solution's score, while for maximization problems the reverse is the case. For maximization problems, where an inferior solution has a smaller score, f(n) is sometimes stated as less than 1; in such cases, the reciprocal of f(n) is the ratio of the score of the found solution to the score of the optimum solution.
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Roughly speaking, a maximization problem displays complementarity if a higher value of the exogenous parameter increases the marginal return of the endogenous variable. This guarantees that the set of solutions to the optimization problem is increasing with respect to the exogenous parameter.
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Using combined thermodynamic and stoichiometric metabolic models in flux balance analyses with (i) growth maximization as objective function and (ii) an identified limit in the cellular Gibbs energy dissipation rate, correct predictions of physiological parameters, intracellular metabolic fluxes and metabolite concentrations were achieved.
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Parallel imports , World Health Organisation. Retrieved 2014-12-12. Car makers frequently arbitrage markets, setting the price according to local market conditions so the same vehicle will have different real prices in different territories. Grey import vehicles circumvent this profit-maximization strategy.
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Barequet and Rogol claim that in practice the area maximization problem within a single cell can be solved in O(n) time, giving (non-rigorous) overall time bounds of O(n^4) for the convex case and O(n^5) for the general case..
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The primary goals of cheek reconstruction include the restoration of native function, maximization of aesthetic outcome, and limitation of repair related morbidity. Implicit in this statement is the intent to re-established both internal and external coverage, expressivity, masticatory function and aesthetic contour and quality.
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Related primal-dual algorithms for utility maximization without queues were developed by Agrawal and Subramanian R. Agrawal and V. Subramanian, "Optimality of certain channel aware scheduling policies," Proc. 40th Annual Allerton Conf. on Communication, Control, and Computing, Monticello, IL, Oct. 2002. and Kushner and Whiting.
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In the neoclassical accelerator model of Jorgenson, the desired capital stock is derived from the aggregate production function assuming profit maximization and perfect competition. In Jorgenson's original model (1963), there is no acceleration effect, since the investment is instantaneous, so the capital stock can jump.
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This was done by adaptively mapping an predefined "atlas" (layout map of some cells) to an image iteratively using the Expectation Maximization algorithm until convergence. SRS has been shown to reduce over-segmentation and under-segmentation errors compared to usually used watershed segmentation method.
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Fuzzy C-means (FCM) with automatically determined for the number of clusters could enhance the detection accuracy. Using a mixture of Gaussians along with the expectation-maximization algorithm is a more statistically formalized method which includes some of these ideas: partial membership in classes.
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Dynamic discrete choice (DDC) models, also known as discrete choice models of dynamic programming, model an agent's choices over discrete options that have future implications. Rather than assuming observed choices are the result of static utility maximization, observed choices in DDC models are assumed to result from an agent's maximization of the present value of utility, generalizing the utility theory upon which discrete choice models are based. The goal of DDC methods is to estimate the structural parameters of the agent's decision process. Once these parameters are known, the researcher can then use the estimates to simulate how the agent would behave in a counterfactual state of the world.
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In statistics, an expectation–maximization (EM) algorithm is an iterative method to find (local) maximum likelihood or maximum a posteriori (MAP) estimates of parameters in statistical models, where the model depends on unobserved latent variables. The EM iteration alternates between performing an expectation (E) step, which creates a function for the expectation of the log- likelihood evaluated using the current estimate for the parameters, and a maximization (M) step, which computes parameters maximizing the expected log- likelihood found on the E step. These parameter-estimates are then used to determine the distribution of the latent variables in the next E step. EM clustering of Old Faithful eruption data.
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A corner solution is an instance where the "best" solution (i.e. maximizing profit, or utility, or whatever value is sought) is achieved based not on the market-efficient maximization of related quantities, but rather based on brute-force boundary conditions. Such a solution lacks mathematical elegance, and most examples are characterized by externally forced conditions (such as "variables x and y cannot be negative") that put the actual local extrema outside the permitted values. Another technical way to state it is that a corner solution is a solution to a minimization or maximization problem where the non-corner solution is infeasible, that is, not in the domain.
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The evolutionary approach to firm survival and behavior proposes that firms do not have to consciously strive to maximize profits and that is because scarcity and competition will ensure the firms' survival and will behave as if they are maximizing profits. Much like the survival of heliophiliac plants, only those plants that do get sunshine will survive. The plants that have survived is understood to have acquired more sunlight than the non-surviving plants. This explanation contrasts starkly with the mainstream picture of accurate foresight and perfect rationality often ascribed to economic actors. Alchian dismisses profit maximization and utility maximization as meaningful attributes of firms’ survival.
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The utility maximization problem has so far been developed by taking consumer tastes (i.e. consumer utility) as the primitive. However, an alternative way to develop microeconomic theory is by taking consumer choice as the primitive. This model of microeconomic theory is referred to as revealed preference theory.
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Models of utility with several periods, in which people discount future values of utility, need to employ cardinalism in order to have well-behaved utility functions. According to Paul Samuelson the maximization of the discounted sum of future utilities implies that a person can rank utility differences.
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Move developers and teams across libraries and domain ontologies and collaborate seamlessly. # Spot bugs and zero-in on the problem almost instantly. There is something to be said about the amount of time a developer spends debugging. # Maximization of the Bus Factor of the software engineering team.
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A corner solution is a special solution to an agent's maximization problem in which the quantity of one of the arguments in the maximized function is zero. In non-technical terms, a corner solution is when the chooser is either unwilling or unable to make a tradeoff.
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An individual's level of precautionary saving is modeled as being determined by the utility maximization problem. This was realized by Friedman (1957),Friedman, M. 1957. “A Theory of the Consumption Function.” Princeton University Press and later by Ando and Modigliani (1963)Ando, A. and Modigliani, F. 1963.
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More generally, if x is a feasible solution for the primal maximization problem and y is a feasible solution for the dual minimization problem, then weak duality implies f(x) \leq g(y) where f and g are the objective functions for the primal and dual problems respectively.
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Backpressure is mathematically analyzed via the theory of Lyapunov drift, and can be used jointly with flow control mechanisms to provide network utility maximization. M. J. Neely. Dynamic Power Allocation and Routing for Satellite and Wireless Networks with Time Varying Channels. Ph.D. Dissertation, Massachusetts Institute of Technology, LIDS.
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In a 1977 study using a human maximization test, 76% of subjects acquired a contact sensitization to benzoyl peroxide. Formulations of 5% and 10% were used. The U.S. National Institute for Occupational Safety and Health has developed criteria for a recommended standard for occupational exposure to benzoyl peroxide.
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Therefore, according to this value, concentration of media ownership does essentially harm basic principle of democratic society. These are the backbones of the recommendation for a maximization of dispersed media power, which is ultimately represented by the ownership. Regarding this egalitarian "equal voice" goal, Baker noted three caveats.
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Simple and versatile, this new method holds potential for many economic and environmental applications. The Boltzmann distribution has the same form as the multinomial logit model. As a discrete choice model, this is very well known in economics since Daniel McFadden made the connection to random utility maximization.
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In 2016 Kerner introduced a measure (or "metric") of a traffic or transportation network called network capacity. Kerner's network capacity determines the maximum total network inflow rate that is still possible to assign in the network while keeping free flow conditions in the whole network. Network capacity allows us to formulate a general condition for the maximization of the network throughput at which free flow does persist in the whole network: Under application of a network throughput maximization approach, as long as the total network inflow rate is smaller than the network capacity traffic breakdown with resulting traffic congestion cannot occur in the network, i.e., free flow remains in the whole network.
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In a similar procedure to how the exponential distribution can be derived (using the standard Boltzmann–Gibbs entropy or Shannon entropy and constraining the domain of the variable to be positive), the q-exponential distribution can be derived from a maximization of the Tsallis Entropy subject to the appropriate constraints.
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Optimization problems run through modern economics, many with explicit economic or technical constraints. In microeconomics, the utility maximization problem and its dual problem, the expenditure minimization problem for a given level of utility, are economic optimization problems.Blume, Lawrence E. (2008). "duality", The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
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Canadian Entomologist. 134: 529-538. Females, however, have a greater sensitivity to foliage than males and it’s suspected that it is due to their longer developmental time. N. abietis larvae have optimal development when they are able to feed on different-aged foliage thus allowing for maximization of their resources.
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Rational choice theory grew out of the expected utility principle in economic theory, i.e. that people will make rational decisions based on their expectations for utility maximization. To that extent, it fits the model of utilitarianism as proposed by the Classical School, but its implications are doubted by the Neoclassical School.
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A range of other methods exist for solving simple as well as higher order MRFs. They include Maximization of Posterior Marginal, Multi- scale MAP estimation,A. Bouman and M. Shapiro (2002): "A multiscale Random field model for Bayesian image segmentation", IEEE Transactions on Image Processing, pp. 162–177, Vol. 3.
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Obtaining this Q-function is a generalized E step. Its maximization is a generalized M step. This pair is called the α-EM algorithm which contains the log-EM algorithm as its subclass. Thus, the α-EM algorithm by Yasuo Matsuyama is an exact generalization of the log-EM algorithm.
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VÉRTICE is a Program of Excellence for the training of students. The program is available to the best 80 students of each generation, chosen among all the undergraduate programs, because of their talent and intellectual capacity. The program's students participate in activities aimed at maximization of their capabilities and leadership potential.
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No. Rather business is its "religion", a secular one. It implies that business values (profit maximization and social responsibility minimization) dominate the mind set of the world elite. Hence, the market economy expands into market society and everything is for sale. The wisdom approach says that what was once wise (ex.
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All birth control methods meet opposition, especially religious opposition, in some parts of the world. Opposition does not only target modern methods, but also 'traditional' ones; for example, the Quiverfull movement, a conservative Christian ideology, encourages the maximization of procreation, and opposes all forms of birth control, including natural family planning.
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Sayyid Qutb denounced capitalism in The Battle Between Islam and Capitalism, published in 1951.Sayyid Qutb. The Islamic constitution of Iran which was drafted by mostly Islamic clerics (see the Assembly of Experts) dispraises the "materialist schools of thought" that encourage "concentration and accumulation of wealth and maximization of profit".ICL - Iran - Constitution.
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Islamic Marketing Ethics and Its Impact on Customer Satisfaction in the Islamic Banking Industry. J.KAU: Islamic Economics. In today's society, business often relies on free market economy where firms experience the pressure of competition and seek profit maximization. This may lead to Islamic ethics being overlooked, which makes the application of ihsan impossible.
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The general rule is that the firm maximizes profit by producing that quantity of output where marginal revenue equals marginal cost. The profit maximization issue can also be approached from the input side. That is, what is the profit maximizing usage of the variable input? Samuelson, W and Marks, S (2003). p. 230.
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The classes of affective intent were then modeled as a gaussian mixture model and trained with these samples using the expectation- maximization algorithm. Classification is done with multiple stages, first classifying an utterance into one of two general groups (e.g. soothing/neutral vs. prohibition/attention/approval) and then doing more detailed classification.
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Then it is possible to introduce the unknown branching ratios by hand from a plausible guess. A good guess can be calculated by means of the Statistical Model. Then the procedure to find the feedings is iterative: using the expectation-maximization algorithm to solve the inverse problem, Then the procedure to find the feedings is iterative: using the expectation-maximization algorithm to solve the inverse problem, the feedings are extracted; if they don't reproduce the experimental data, it means that the initial guess of the branching ratios is wrong and has to be changed (of course, it is possible to play with other parameters of the analysis). Repeating this procedure iteratively in a reduced number of steps, the data is finally reproduced.
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Nonlinear precoding is designed based on the concept of dirty paper coding (DPC), which shows that any known interference at the transmitter can be subtracted without the penalty of radio resources if the optimal precoding scheme can be applied on the transmit signal. While performance maximization has a clear interpretation in point-to-point MIMO, a multi-user system cannot simultaneously maximize the performance for all users. This can be viewed as a multi-objective optimization problem where each objective corresponds to maximization of the capacity of one of the users. The usual way to simplify this problem is to select a system utility function; for example, the weighted sum capacity where the weights correspond to the system's subjective user priorities.
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They analyzed South African's experience with the endeavor and examined the country's regulatory framework and privatization, the performance of one of its major networks, government interventions and regulations regarding telecommunications, and the effect telecommunications had on economic efficiency and universal service. One of the study's conclusions was that private ownership and regulation did not address the extension of affordable telecommunications services to the South African population in an attempt to abolish existing inequalities, which the authors deemed as the biggest issue faced by South Africans. As the network Telkom favored profit maximization, switching from exclusivity to expanding service became useless as profit maximization made telecommunication services less affordable to the people who would supposedly benefit from the extension. In turn, exclusivity was found to increase Telkom's profitability.
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Valletta, 2016. PDF Since MCMC imposes significant computational burden, in cases where computational scalability is also of interest, one may alternatively resort to variational approximations to Bayesian inference, e.g. Indeed, approximate variational inference offers computational efficiency comparable to expectation-maximization, while yielding an accuracy profile only slightly inferior to exact MCMC-type Bayesian inference.
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In the capitalist form of society, human labor power is for sale in the market as one of many commodities.1999, p. 2. Goods and services, including those regarding the most basic necessities of life, are produced for profitable exchange. All the actors in a such system are driven by competition and profit-maximization.
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In a Bayesian framework, a distribution over the set of allowed models is chosen to minimize the cost. Evolutionary methods, gene expression programming, simulated annealing, expectation-maximization, non-parametric methods and particle swarm optimization are other learning algorithms. Convergent recursion is a learning algorithm for cerebellar model articulation controller (CMAC) neural networks.Ting Qin, et al.
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Scrooge, who is a very mean person and does not care about anything but himself and money, diverged greatly from those of someone he once admired. Fezziwig is also a capitalist, but he moderates profit maximization with kindness, generosity, and affection for his employees. In the early 19th century such small owner-controlled traders were being swept up.
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Chartboost InPlay is a customizable, interactive advertisement layer that allows developers to create promotions which display directly in a player's gameplay environment. InPlay is intended to create promotions that integrate with the look and feel of a particular game. The native advertising solution supports standard Chartboost features such as tracking and reporting, player targeting, and cost per impression maximization.
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With block-iterative methods, every iteration of the algorithm is subdivided into many subsequent sub-iterations, each using a different subset of the projection data. An example of a widely used block-iterative version of MLEM is the Ordered Subsets Expectation Maximization algorithmHudson HM, et al. Accelerated image-reconstruction using ordered subsets of projection data. IEEE Trans Med Imag.
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Coordinated capacity allocation process use auction algorithm based on maximization of social welfare. From November 2012, CAO also provided a coordinated auction process on the borders between Croatia and Hungary and Croatia and Slovenia. On December 31, 2015 CAO became part of JAO (Joint Allocation Office) with headquarters in Luxembourg and the branch in Freising legally ceased to exist.
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As for Hermitian matrices, the key point is to prove the existence of at least one nonzero eigenvector. One cannot rely on determinants to show existence of eigenvalues, but one can use a maximization argument analogous to the variational characterization of eigenvalues. If the compactness assumption is removed, it is not true that every self-adjoint operator has eigenvectors.
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Shareholder value is a business term, sometimes phrased as shareholder value maximization or as the shareholder value model, which implies that the ultimate measure of a company's success is the extent to which it enriches shareholders. It became prominent during the 1980s and 1990s along with the management principle value-based management or "managing for value".
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In particular, the visible variables correspond to input data, and the hidden variables correspond to feature detectors. The weights can be trained by maximizing the probability of visible variables using Hinton's contrastive divergence (CD) algorithm. In general training RBM by solving the maximization problem tends to result in non-sparse representations. Sparse RBM was proposed to enable sparse representations.
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HBE overlaps with evolutionary psychology, human or cultural ecology, and decision theory. It is most prominent in disciplines such as anthropology and psychology where human evolution is considered relevant for a holistic understanding of human behavior or in economics where self-interest, methodological individualism, and maximization are key elements in modeling behavioral responses to various ecological factors.
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Wall safes are designed to provide hidden protection for documents and miscellaneous valuables. Adjustable depth allows the maximization of usable space when installed in different wall thicknesses. Some wall safes feature pry-resistant recessed doors with concealed hinges for anti-theft protection. A painting can be hung over a wall safe to obscure it from public view.
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AWES Farm Density Airborne Wind Energy Labs, March 2014. Retrieved 20 March 2014. Wind farms consisting of diverse wind turbines have been proposed in order to efficiently use wider ranges of wind speeds. Such wind farms are proposed to be projected under two criteria: maximization of the energy produced by the farm and minimization of its costs.
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Their derivatives are more fundamentally related by the Slutsky equation. Whereas Marshallian demand comes from the Utility Maximization Problem, Hicksian Demand comes from the Expenditure Minimization Problem. The two problems are mathematical duals, and hence the Duality Theorem provides a method of proving the relationships described above. The Hicksian demand function is intimately related to the expenditure function.
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In the asymmetric case with triangle inequality, only logarithmic performance guarantees are known, the best current algorithm achieves performance ratio 0.814 log(n); it is an open question if a constant factor approximation exists. The best known inapproximability bound is 75/74. The corresponding maximization problem of finding the longest travelling salesman tour is approximable within 63/38.
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He argues that uncertainty and probabilistic outcomes make the maximization of any objective function meaningless. Alchian states that uncertainty arises from two sources: imperfect foresight and human inability to solve complex problems with a host of variables. Uncertainty and a combination of random behavior and foresight lead to probability distributions of outcomes (profits/losses) rather than a unique outcome.
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The firm will continue to hire additional units of labor as long as MRPL > wage rate and will stop at the point at which MRPL = the wage rate.Frank (2008) p. 460. Following this rule the firm is maximizing profits since MRPL = marginal product of labor (MCL) is equivalent to the profit maximization rule of MR = MC.Perloff p. 514.
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The Everett Building not only included these features, but also had a corner location that was conducive toward the maximization of natural light. In addition, the Everett Building's design complied with building codes and insurance companies' fireproofing stipulations, while combining several elements to cut costs, features that David described as being part of the optimal building design.
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The maximization of parsimony (preferring the simpler of two otherwise equally adequate theorizations) has proven useful in many fields. Occam's razor, a principle of theoretical parsimony suggested by William of Ockham in the 1320s, asserted that it is vain to give an explanation which involves more assumptions than necessary. Alternatively, phylogenetic parsimony can be characterized as favoring the trees that maximize explanatory power by minimizing the number of observed similarities that cannot be explained by inheritance and common descent. Minimization of required evolutionary change on the one hand and maximization of observed similarities that can be explained as homology on the other may result in different preferred trees when some observed features are not applicable in some groups that are included in the tree, and the latter can be seen as the more general approach.
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Most of our decisions are made under some form of uncertainty. Decision sciences such as psychology and economics usually define risk as the uncertainty about several possible outcomes when the probability of each is known. When the probabilities are unknown, uncertainty takes the form of ambiguity. Utility maximization, first proposed by Daniel Bernoulli in 1738, is used to explain decision making under risk.
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In economics an isocost line shows all combinations of inputs which cost the same total amount.Varian, Hal R., Microeconomic Analysis, third edition, Norton, 1992.Chiang, Alpha C., Fundamental Methods of Mathematical Economics, third edition, McGraw-Hill, 1984. Although similar to the budget constraint in consumer theory, the use of the isocost line pertains to cost-minimization in production, as opposed to utility-maximization.
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The body completely engulfs the wheels thus eliminating their additional aerodynamic drag. The vehicle is equipped with 6 wheels (occurring long before the Tyrrell P34 of the late 70s). The main reason for that design choice is the maximization of the contact area with the ground with a simultaneous reduction of the frontal area of the vehicle (i.e. low drag).
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Some critics say that rational theories of choice and preference theories rely too heavily on the assumption of invariance, which states that the relation of preference should not depend on the description of the options or on the method of elicitation. But without this assumption, one's preferences cannot be represented as maximization of utility.Slovic, P. (1995). "The Construction of Preference".
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Unhelpful attempts at social support include: minimization (e.g., downplaying or denying the problem), maximization (e.g., catastrophizing, making the problem seem unwieldy or unresolvable), blaming or criticizing the partner for their misfortune, inducing feelings of guilt or indebtedness, and overinvolvement (e.g., being overly protective, making the care-recipient feel incompetent, inserting oneself into the problem when the partner wishes to solve it independently).
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Theoretically in free and competitive markets, if an individual firm maximizes profits, it ensures that resources are not wasted. However, the market itself, should minimize profits as it is the cost to the value chain. Competition is the key tool by which markets overcome the individual firm's profit maximization incentive. The profit motive is a good of value to the economy.
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In microeconomics, the utility maximization problem is the problem consumers face: "how should I spend my money in order to maximize my utility?" It is a type of optimal decision problem. It consists of choosing how much of each available good or service to consume, taking into account a constraint on total spending as well as the prices of the goods.
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Motion segmentation can be seen as a classification problem where each pixel has to be classified as background or foreground. Such classifications are modeled under statistic theory and can be used in segmentation algorithms. These approaches can be further divided depending on the statistical framework used. Most commonly used frameworks are maximum a posteriori probability (MAP), Particle Filter (PF) and Expectation Maximization (EM).
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Basic School Voucher Utility Maximization Picture The students selected to be in the program were selected by lottery. The vouchers were able to be renewed annually, conditional on students achieving satisfactory academic success as indicated by scheduled grade promotion. The program also included incentives to study harder as well as widening schooling options. Empirical evidence showed that the program had some success.
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Vickrey–Clarke–Groves auction is an application of VCG mechanism for welfare maximization. Here, X is the set of all possible allocations of items to the agents. Each agent assigns a personal monetary value to each bundle of items, and the goal is to maximize the sum of the values of all agents. A well-known special case is the Vickrey Auction.
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Group processes and productivity. New York: Academic Press. If a task is unitary (i.e., cannot be broken into subtasks for individual members), requires output maximization to be successful (i.e., a high rate of production quantity), and requires interdependence among members to yield a group product, the potential performance of a group relies on members’ abilities to coordinate with one another.
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Qian Xuesen pointed out that modern cities' worship of power and capital leads to maximization and utilitarianism. "Buildings in cities should not become living machines. Even the most powerful technology and tools can never endow the city with a soul." To Ma Yansong, Shanshui does not just refer to nature; it is also the individual's emotional response to the surrounding world.
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The property of the stable matching polytope, of defining a continuous distributive lattice is analogous to the defining property of a distributive polytope, a polytope in which coordinatewise maximization and minimization form the meet and join operations of a lattice. However, the meet and join operations for the stable matching polytope are defined in a different way than coordinatewise maximization and minimization. Instead, the order polytope of the underlying partial order of the lattice of stable matchings provides a distributive polytope associated with the set of stable matchings, but one for which it is more difficult to read off the fractional value associated with each matched pair. In fact, the stable matching polytope and the order polytope of the underlying partial order are very closely related to each other: each is an affine transformation of the other.
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Additionally, the private companies tended to focus more on profit maximization than on the quality and quantity of service provided because water is a natural monopoly. Because of this, by 2000 only 15% of water supply remained privatized. There have also been multiple examples of privatization contracts being terminated by the government. One such contract was a 20-year contract in Atlanta with United Water in 1998.
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The practice dates back at least to the sixteenth century, and today is particularly applied aboard submarines, where maximization of space is especially important. Generally, the lowest ranking members of the crew are required to hot rack. Hot racking is sometimes utilized in jails and prisons to deal with overcrowding. Depending upon the watch system, two, or even three people may end up sharing the same bunk.
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An ERM can combine and integrate several risk silos into a firm-wide risk portfolio and can consider aspects as volatility and correlation of all risk exposures. This can lead to a maximization of the diversification's benefits. SILO: Under a Silo approach, risk transfer strategies are executed under a transactional or individual risk level. As an example insurance can be mentioned, which transfers out operational risk.
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Martin-Löf's student, Rolf Sundberg, developed a detailed analysis of the expectation-maximization (EM) method for estimation using data from exponential families, especially with missing data. Sundberg credits a formula, later known as the Sundberg formula, to previous manuscripts of the Martin-Löf brothers, Per and Anders.Rolf Sundberg. 1971. Maximum likelihood theory and applications for distributions generated when observing a function of an exponential family variable.
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This utility maximization process is thought to be mediated by the locus coeruleus system and this creativity framework describes how tonic and phasic locus coerulues activity work in conjunction to facilitate the exploiting and exploring of creative ideas. This framework not only explains previous empirical results but also makes novel and falsifiable predictions at different levels of analysis (ranging from neurobiological to cognitive and personality differences).
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In this context, the expense ratio shows the percentage of an operation's gross revenues that is being allocated to the expenses related to running the operation. Business managers who use profit and loss statements (i.e. income statements) to draft business plans find expense ratios to be very useful indices in producing forecasts, and determining where cost cutting and revenue maximization opportunities exist.Rushinek, A. and Rushinek, S. (1995).
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According to the utilitarian, justice requires the maximization of the total or average welfare across all relevant individuals. Punishment fights crime in three ways: # Deterrence. The credible threat of punishment might lead people to make different choices; well- designed threats might lead people to make choices that maximize welfare. This matches some strong intuitions about just punishment: that it should generally be proportional to the crime.
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Multi-objective optimization has been increasingly employed in chemical engineering and manufacturing. In 2009, Fiandaca and Fraga used the multi-objective genetic algorithm (MOGA) to optimize the pressure swing adsorption process (cyclic separation process). The design problem involved the dual maximization of nitrogen recovery and nitrogen purity. The results provided a good approximation of the Pareto frontier with acceptable trade-offs between the objectives.
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Gibbs sampling is commonly used as a means of statistical inference, especially Bayesian inference. It is a randomized algorithm (i.e. an algorithm that makes use of random numbers), and is an alternative to deterministic algorithms for statistical inference such as the expectation-maximization algorithm (EM). As with other MCMC algorithms, Gibbs sampling generates a Markov chain of samples, each of which is correlated with nearby samples.
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Various authors, including Jean le Rond d'Alembert and John Maynard Keynes, have rejected maximization of expectation (even of utility) as a proper rule of conduct. Keynes, in particular, insisted that the relative risk of an alternative could be sufficiently high to reject it even if its expectation were enormous. Recently, some researchers have suggested to replace the expected value by the median as the fair value.
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Among the various types of borrowing limits, the natural borrowing limit imposes one of the weakest restriction on the consumer utility maximization problem.Recursive Macroeconomic Theory, Second edition, 2004. By Lars Ljungqvist and Thomas J. Sargent. MIT Press The natural borrowing limit says, the maximum amount of money that the agent can borrow is limited to the agents present discounted value of the entire income stream.
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In control theory a self-tuning system is capable of optimizing its own internal running parameters in order to maximize or minimize the fulfilment of an objective function; typically the maximization of efficiency or error minimization. Self-tuning and auto-tuning often refer to the same concept. Many software research groups consider auto-tuning the proper nomenclature. Self-tuning systems typically exhibit non-linear adaptive control.
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An efficient way to improve the understanding of production performance is to formulate different objective functions according to the objectives of the different interest groups. Formulating the objective function necessitates defining the variable to be maximized (or minimized). After that other variables are considered as constraints or free variables. The most familiar objective function is profit maximization which is also included in this case.
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This was the official language of the 3rd IPC in 2002. It introduced numeric fluents (e.g. to model non- binary resources such as fuel-level, time, energy, distance, weight, ...), plan-metrics (to allow quantitative evaluation of plans, and not just goal- driven, but utility-driven planning, i.e. optimization, metric- minimization/maximization), and durative/continuous actions (which could have variable, non-discrete length, conditions and effects).
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A seminal article by Armen Alchian (1950) argued for adaptive success of firms faced with uncertainty and incomplete information replacing profit maximization as an appropriate modeling assumption.Armen A. Alchian 1950, "Uncertainty, Evolution and Economic Theory," Journal of Political Economy, 58(3), pp. 211-21 . Kenneth Boulding was one of the advocates of the evolutionary methods in social science, as is evident from Kenneth Boulding's Evolutionary Perspective.
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Most of the work on blind deconvolution started in early 1970s. Blind deconvolution is used in astronomical imaging and medical imaging. Blind deconvolution can be performed iteratively, whereby each iteration improves the estimation of the PSF and the scene, or non-iteratively, where one application of the algorithm, based on exterior information, extracts the PSF. Iterative methods include maximum a posteriori estimation and expectation- maximization algorithms.
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In mathematical analysis, epi-convergence is a type of convergence for real- valued and extended real-valued functions. Epi-convergence is important because it is the appropriate notion of convergence with which to approximate minimization problems in the field of mathematical optimization. The symmetric notion of hypo-convergence is appropriate for maximization problems. Mosco convergence is a generalization of epi-convergence to infinite dimensional spaces.
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Oliver E. Williamson hypothesised (1964) that profit maximization would not be the objective of the managers of a joint stock organisation.International Management Journal, Kenny Crossan, The Theory of the Firm and Alternative Theories of Firm Behaviour: A Critique. International Journal of Applied Institutional Governance Volume 1 Issue 1; . This theory, like other managerial theories of the firm, assumes that utility maximisation is a manager’s sole objective.
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Thus Claude Perier became a director of the company. The firm did reasonably well after 1795, although most of the new outsiders ("les Parisiens") who joined the founding families looked on Anzin as simply one of many investments. Not so Casimir and Scipion Perier, who determined to become active owner-directors for purposes of renovating and re-energizing the company for increased production and maximization of profits.
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His work and that of Black–Scholes changed the nature of the finance literature. Influential mathematical textbook treatments were by Fleming and Rishel, and by Fleming and Soner. These techniques were applied by Stein to the financial crisis of 2007–08. The maximization, say of the expected logarithm of net worth at a terminal date T, is subject to stochastic processes on the components of wealth.
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In the development process of technical products, there are usually several evaluation goals or criteria to be met, e.g. low cost, high quality, low noise etc. These criteria often conflict with each other, in the sense that the minimization of one entails the maximization of at least another one. Design parameters have to be found in order to find the best trade-off among multiple criteria.
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Statistika Modeller (Statistical Models): Anteckningar fran seminarier läsåret 1969–1970 (Notes from seminars in the academic year 1969–1970), with the assistance of Rolf Sundberg. Stockholm University. ("Sundberg formula") Many of these results reached the international scientific community through the 1976 paper on the expectation maximization (EM) method by Arthur P. Dempster, Nan Laird, and Donald Rubin, which was published in a leading international journal, sponsored by the Royal Statistical Society.
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Member profile, Academia Europaea, retrieved 2014-01-26. His brother Anders Martin-Löf is now emeritus professor of mathematical statistics at Stockholm University; the two brothers have collaborated in research in probability and statistics. The research of Anders and Per Martin-Löf has influenced statistical theory, especially concerning exponential families, the expectation-maximization method for missing data, and model selection.For details, see the #Statistical models section of this article.
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A common form of antibiotic production in modern times is semi-synthetic. Semi-synthetic production of antibiotics is a combination of natural fermentation and laboratory work to maximize the antibiotic. Maximization can occur through efficacy of the drug itself, amount of antibiotics produced, and potency of the antibiotic being produced. Depending on the drug being produced and the ultimate usage of said antibiotic determines what one is attempting to produce.
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Hidden state sequence and emission distribution parameters can be learned using the Baum-Welch algorithm, which is a variant of expectation maximization applied to HMMs. Typically in the segmentation problem self- transition probabilities among states are assumed to be high, such that the system remains in each state for nonnegligible time. More robust parameter- learning methods involve placing hierarchical Dirichlet process priors over the HMM transition matrix.Teh, Yee Whye, et al.
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For the maintenance of the peace and stability of the Indian Ocean Region, it is of the utmost importance that regional, coastal, island, and landlocked states become aware of the geopolitical orientations of one another and of Indian Ocean neighbours. The description, collation and analysis of such orientations and their assistance in the maximization of regional transparency regarding regional state goals and intentions is among IORG's key objectives.
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In the following figure, the minimization problem on the left side of the equation is illustrated. One seeks to vary x such that the vertical distance between the convex and concave curves at x is as small as possible. The position of the vertical line in the figure is the (approximate) optimum. File:FencheDual02.png The next figure illustrates the maximization problem on the right hand side of the above equation.
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Note that the Hamming distance between any two instances of an (l, d) motif is no more than 2d. The key idea of this algorithm is to examine those buckets that have a large number of l-mers in them. For each such bucket, an expectation maximization (EM) algorithm is used to check if an (l, d) motif can be found using the l-mers in the bucket.
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Another algorithm called SP-STAR, is faster than WINNOWER and uses less memory. WINNOWER algorithm treats all the edges of G equally without distinguishing between edges based on similarities. SP-STAR scores the l-mers of C as well as the edges of G appropriately and hence eliminates more edges than WINNOWER per iteration. (Bailey and Elkan, 1994) employs expectation maximization algorithms while Gibbs sampling is used by (Lawrence et al.
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Classrooms were also arranged in rows along double-loaded corridors. This model is also known as the "cells and bells" model. After World War II and the emergence of the International Style of architecture, mass production, maximization of efficiencies of space and volume, and cost-efficient materials replaced ornamentation and aesthetic considerations in design, so the schools began to look as factory-like as they were configured and operated.
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These simple models usually completely disregard technological constraints; however, in real industrial cases resource capacity, inventory or budget constraints may be relevant. This necessitates more complex models, such as LP, MIP, stochastic program, and thus more powerful mathematical programming techniques may be required. As for the optimization criteria, the most usual objectives are the profit maximization or cost minimization, but other alternatives are also conceivable, e.g., throughput time minimization.
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In this experiment a maximization test (48-h patch) was done using 5% cinnamyl acetate in petrolatum. Skin sensitization reactions were not observed. Moreover, standard Draize tests were used to assess the dermal toxicity in humans, guinea pigs and rabbits. This resulted in mild skin irritation for doses of 16 mg per 48 hours for humans and for doses of 100 mg per 24 hours for guinea pigs.
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In the past few decades, there has been growing concern about the level of marginalization currently experienced by vulnerable groups and about unequal distribution of wealth. The economic stability that assets purchased through IDAs provide enables the creation and maximization of opportunities for meaningful participation of socially vulnerable people like racial minorities and women in economic, social, and political institutions under conditions that enhance their well-being and capabilities.
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The max-flow min-cut theorem is a special case of the strong duality theorem: flow-maximization is the primal LP, and cut-minimization is the dual LP. See Max-flow min-cut theorem#Linear program formulation. Other graph-related theorems can be proved using the strong duality theorem, in particular, Konig's theorem. The Minimax theorem for zero-sum games can be proved using the strong-duality theorem.
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The rationale for P2P asset management is financial disintermediation. When multiple intermediaries participate in an investment management transaction, there is the potential for a conflict of interest between providers and buyers of the service, in a well documented sequence described in economic theory as the principal–agent problem. Intermediaries seek profit maximization. In the context of investment management, they offer the most attractive risk/return propositions to larger, more sophisticated customers.
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State-level efforts such as the Oklahoma Indian Welfare Act were attempts to contain tribal land in Native American hands. However, more bureaucratic decisions only expanded the size of the bureaucracy. The knowledge disconnect between the decision-making bureaucracy and Native American stakeholders resulted in ineffective development efforts. Traditional Native American entrepreneurship does not prioritize profit maximization, rather, business transactions must have align with their social and cultural values.
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Assuming that the distribution is a mixture of two normal distributions then the expectation-maximization algorithm may be used to determine the parameters. Several programmes are available for this including Cluster, and the R package nor1mix. ;Other distributions The mixtools package available for R can test for and estimate the parameters of a number of different distributions. A package for a mixture of two right-tailed gamma distributions is available.
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Becker organizes his reading of Stoic ethics around the concept of agency. "The Development of Virtue [happens through] the Perfection of Agency," or through the "ideal agency" as he calls it. This can be described as the belief in the "inherent primacy of virtue in terms of maximization of one's agency". This agency is understood in terms of "a balance of control and stability" and is executed all-things-considered, i.e.
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On November 26, the Supreme Court accepted and consolidated the case with Conestoga Wood Specialties v. Sebelius. Two dozen amicus briefs support the government, and five dozen support the companies. American Freedom Law Center's brief argues that birth control harms women because men will only want them "for the satisfaction of [their] own desires." Another brief argues that the contraception rule leads to "the maximization of sexual activity".
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Assuming a strategy of utility maximization, the model of warm glow offers many important economic predictions. Specifically, it presents three contrarian insights to those of classical economics under Ricardian equivalence. First, warm-glow theory predicts that income transfers will increase net giving only when income is transferred to more altruistic individuals. Second, it suggests that the provision of a public good is dependent upon the distribution of income within a population.
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From 2005-2008, Barend was the governmental affairs director for engineering and consulting firm STV Group, Inc. and director of her nonprofit Minds of Steel in Vestal. In 2008, Barend was appointed Executive Director of the New York State Asset Maximization (SAM) Commission which was tasked to identify specific public private partnerships for the State. Barend is currently Senior Vice President & Development Director of Public-Private Partnerships for AECOM Capital.
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In this case, in continuous time Itô's equation is the main tool of analysis. In the case where the maximization is an integral of a concave function of utility over an horizon (0,T), dynamic programming is used. There is no certainty equivalence as in the older literature, because the coefficients of the control variables—that is, the returns received by the chosen shares of assets—are stochastic.
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Members contribute to their industries through textbooks and other books they have authored and white papers as well. The group also provides outreach through a distinguished lecturer series program and speakers bureau on a variety of marketing topics. A comprehensive online training program in the form of The MENG Webinar Series is offered. Past and current topics have included: Social Media University, Marketing Masters, Career Maximization, and Innovation.
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In computer science, the inside–outside algorithm is a way of re-estimating production probabilities in a probabilistic context-free grammar. It was introduced by James K. Baker in 1979 as a generalization of the forward–backward algorithm for parameter estimation on hidden Markov models to stochastic context-free grammars. It is used to compute expectations, for example as part of the expectation–maximization algorithm (an unsupervised learning algorithm).
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Their inference model uses Expectation-Maximization algorithm. GLClone – GLClone uses a hierarchical probabilistic model and Bayesian posteriors to calculate copy number alterations in sub-clones. Cloe \- Cloe uses a phylogenetic latent feature model for analyzing sequencing data to distinguish the genotypes and the frequency of clones in a tumor. PhyC \- PhyC uses an unsupervised learning approach to identify subgroups of patients through clustering the respective cancer evolutionary trees.
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Microeconomic theory progresses by defining a competitive budget set which is a subset of the consumption set. It is at this point that economists make the technical assumption that preferences are locally non-satiated. Without the assumption of LNS (local non-satiation) there is no 100% guarantee but there would be a rational rise in individual utility. With the necessary tools and assumptions in place the utility maximization problem (UMP) is developed.
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Tomosynthesis reconstruction algorithms are similar to CT reconstructions, in that they are based on performing an inverse Radon transform. Due to partial data sampling with very few projections, approximation algorithms have to be used. Filtered back projection and iterative, expectation-maximization algorithms have both been used to reconstruct the data. Reconstruction algorithms for tomosynthesis are different from those of conventional CT because the conventional filtered back projection algorithm requires a complete set of data.
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The portfolio optimization problem is specified as a constrained utility-maximization problem. Common formulations of portfolio utility functions define it as the expected portfolio return (net of transaction and financing costs) minus a cost of risk. The latter component, the cost of risk, is defined as the portfolio risk multiplied by a risk aversion parameter (or unit price of risk). Practitioners often add additional constraints to improve diversification and further limit risk.
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In mathematics, the Regiomontanus's angle maximization problem, is a famous optimization problemHeinrich Dörrie,100 Great Problems of Elementary Mathematics: Their History And Solution, Dover, 1965, pp. 369–370 posed by the 15th-century German mathematician Johannes MüllerEli Maor, Trigonometric Delights, Princeton University Press, 2002, pages 46-48 (also known as Regiomontanus). The problem is as follows: The two dots at eye level are possible locations of the viewer's eye. : A painting hangs from a wall.
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Similar results from other small-scale societies players have led some researchers to conclude that "reputation" is seen as more important than any economic reward. Mongolian/Kazakh study conclusion from University of Pennsylvania. Others have proposed the social status of the responder may be part of the payoff. Social Role in the Ultimate Game Another way of integrating the conclusion with utility maximization is some form of inequity aversion model (preference for fairness).
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Above that level, the structure is composed primarily of I-beams, with flange plates at their tops and bottoms. The building also incorporates curtain walls in its design. According to critic A. C. David, the optimal building design included high ceilings and large windows to maximize natural light coverage. The Germania Life Building not only included these features, but also had a corner location that was conducive toward the maximization of natural light.
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Best-guess states (e.g. for atoms in a gas) are inferred by maximizing the average surprisal S (entropy) for a given set of control parameters (like pressure P or volume V). This constrained entropy maximization, both classically and quantum mechanically, minimizes Gibbs availability in entropy unitsJ.W. Gibbs (1873), "A method of geometrical representation of thermodynamic properties of substances by means of surfaces", reprinted in The Collected Works of J. W. Gibbs, Volume I Thermodynamics, ed.
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The parameters are always changing. I > describe econometrics as the attempt to find the celestial mechanics of non- > existent universes. (1991) Biological evolution gives considerable emphasis to the ability of organisms to adapt to unpredictable change—their survival value. In his words, :...the perception of potential threats to survival may be much more important in determining behavior than the perceptions of potential profits, so that profit maximization is not really the driving force.
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This formula is basic to finance which is the overarching logic of capitalism. The logic is also inherently differential as every capitalist strives to accumulate greater earnings than their competitors (but not profit maximization). Nitzan and Bichler label this process differential accumulation. In order to have a power theory of value there needs to be differential accumulation where some owners' rate of growth of capitalization is faster than the average pace of capitalization.
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In microeconomics, the utility maximization problem and its dual problem, the expenditure minimization problem, are economic optimization problems. Insofar as they behave consistently, consumers are assumed to maximize their utility, while firms are usually assumed to maximize their profit. Also, agents are often modeled as being risk-averse, thereby preferring to avoid risk. Asset prices are also modeled using optimization theory, though the underlying mathematics relies on optimizing stochastic processes rather than on static optimization.
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It gets stuck at a basic feasible solution (a corner of the feasible polytope) and changes bases in a cyclic way without increasing the maximization target. Such cycles are avoided by Bland's rule for choosing a column to enter the basis. Bland's rule was developed by Robert G. Bland, now a professor of operations research at Cornell University, while he was a research fellow at the Center for Operations Research and Econometrics in Belgium.
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If the firm decides to operate, the firm will continue to produce where marginal revenue equals marginal costs because these conditions insure not only profit maximization (loss minimization) but also maximum contribution. Another way to state the rule is that a firm should compare the profits from operating to those realized if it shut down and select the option that produces the greater profit.Samuelson, W & Marks, S (2003) p. 296.Perloff, J. (2009) p. 237.
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Smart phone and car: voluntary consumption or necessary increases of individual productivity? An imperative for private households to increase their income and consumption expenditure is rarely discussed. In neoclassical household theory, households try to maximize their utility, whereby, in contrast to the profit maximization of firms, they are not subject to market imperatives. Therefore, a growth imperative is usually not assumed here, but rather a free decision between current and future consumption.
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Gray jay scatterhoarding behavior, rate maximization and the effect of local cache density. Ornis. Scand., 23: 175-182 There are only two species in which kin selection has resulted in a shared food store, i.e. beavers (Castor canadensis) and acorn woodpeckers (Melanerpes formicivorous); the former live in family groups and construct winter larders of submerged branches, while the latter are unusual in that they construct a conspicuous communal larder.Koenig, W.D. and Mumme, R.L., (1987).
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Whereas firms that fail to adapt, or do so slowly, risk a greater likelihood of failure. Surviving firms evolve in the direction of the more economically profitable firms. Evolution and competition for scarce resources ensure that, in practice, firms do not have to consciously maximize an objective function. Alchian concludes that, despite uncertainty and the lack of knowledge by market participants, economists can still analyze the behavior of firms using the assumptions of profit maximization.
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One can assume different models for different partitions of a sequence alignment, and partitions may be assumed to evolve at different speeds. All parameters of the models can be estimated from the data by maximization of likelihood. Certain TL expressions, the "model expressions", allow the concise notation of complex models, together with their parameters and optimization modes. Treefinder's original publication from 2004 has been cited more than a thousand times in the scientific literature.
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Between producers and consumers, there is the possibility of externalities arising. These may take the form of damages to either party, one of whom may or may not have the property rights concerning the externality. Under the assumptions of perfect information, both parties being price-takers, costless court systems, profit and utility maximization by producers and consumers respectively, no income/wealth effects, and no transaction costs, the parties may be able to meet an efficient level of compensation.Kolstad, 2011.
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A major concern in Japan during the Second World War was wasteful consumption of luxury products. This led to the imposition of luxury ordinances against goods explicitly tailored to luxury consumption. Due to these concerns, Shiseido emphasized the health benefits, high quality (leading to a maximization of efficacy) and patriotic national production of their cosmetic products. Since Shiseido did not want to tarnish their deluxe brand image their designs and advertisements contuned to incorporate highly stylized luxurious motifs.
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IBON devised a self- sufficiency program through cross-subsidies between revenue-generating services, subsidized services, maximization of resources, and institutional efficiency and professionalism. Self-evaluation and feedback from friends, clients and allies helped IBON reorganize its programs and services. The Databank and Research Center was expanded, conducting in-depth research and advocacy studies, and aiming to improve the quality of its books and publications. Sectoral service desks for workers, peasants, women, indigenous people and the environment were also developed.
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The behavioral theory of the firm first appeared in the 1963 book A Behavioral Theory of the Firm by Richard M. Cyert and James G. March. The work on the behavioral theory started in 1952 when March, a political scientist, joined Carnegie Mellon University, where Cyert was an economist. Before this model was formed, the existing theory of the firm had two main assumptions: profit maximization and perfect knowledge. Cyert and March questioned these two critical assumptions.
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The primary function of plant roots is the uptake of soil nutrients, and it is this purpose which drives swarm behavior. Plants growing in close proximity have adapted their growth to assure optimal nutrient availability. This is accomplished by growing in a direction that optimizes the distance between nearby roots, thereby increasing their chance of exploiting untapped nutrient reserves. The action of this behavior takes two forms: maximization of distance from, and repulsion by, neighboring root apexes.
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Demand theory describes individual consumers as rationally choosing the most preferred quantity of each good, given income, prices, tastes, etc. A term for this is "constrained utility maximization" (with income and wealth as the constraints on demand). Here, utility refers to the hypothesized relation of each individual consumer for ranking different commodity bundles as more or less preferred. The law of demand states that, in general, price and quantity demanded in a given market are inversely related.
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Allmusic rated the album with 3 stars.Allmusic listing, accessed August 19, 2015 On Audiophilia.com, Roy Harris wrote "While the goal of the producer probably was the maximization of sound quality, it may have led to an unintended consequence, namely the subservience of the music to the sound. While the cause may have been percussion “pyrotechnics”, I found the novel and unusual arrangements of familiar melodies interesting, and not indicative of a devaluation of the musical content".
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According to Argonov, posthumans will be able to reprogram their motivations in an arbitrary manner (to get pleasure from any programmed activity). And if pleasure principle postulates are true, then general direction of civilization development is obvious: maximization of integral happiness in posthuman life (product of life span and average happiness). Posthumans will avoid constant pleasure stimulation, because it is incompatible with rational behavior required to prolong life. However, they can become on average much happier than modern humans.
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John Stuart Mill, developer of Jeremy Bentham's utility-based theory Utilitarianism (from the Latin utilis, useful) is a theory of ethics that prescribes the quantitative maximization of good consequences for a population. It is a form of consequentialism. This good to be maximized is usually happiness, pleasure, or preference satisfaction. Though some utilitarian theories might seek to maximize other consequences, these consequences generally have something to do with the welfare of people (or of people and nonhuman animals).
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Chiang is best known for his work on networks, especially optimization of networks, network utility maximization (NUM) and smart data pricing (SDP). He is known as a founder of the field of fog/edge computing. Chiang's Ph.D. dissertation in 2003 made contributions to information theory and optimization theory. Since then he has contributed to many areas in networking research, including wireless networks, the Internet, broadband access, content distribution, network function optimization, network economics and social learning networks.
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Frontier, a BYU- Idaho Economics research project. May 2011 - 2013. Presentation: “The Irrationality of Voting: Getting Stronger?,” Public Choice Society meetings, March 2001, San Antonio, TX. Presentation: “Budget Maximization and Institutional Choice: Do Institutions Matter?,” presented at Public Choice Society meetings, March 2000, Charleston, SC. “The Economics of Bureaucracy,” published in Institutions and Collective Choice in Developing Countries: Applications of the Theory of Public Choice, edited by Mwangi S. Kimenyi and John M. Mbaku, Ashgate Publishing 1999.
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Drug Delivery Rev. 2001,46,3. the focus of synthetic research has been shifted gradually from target-oriented synthesis to diversity-oriented synthesis (divergent synthesis). A scientific approach based on the power of the molecular construction game and guided by an ideal for simplicity, has a high potential for discovery. The creative combination of synthetic methodologies, mixing simplicity and maximization of structural complexity, is indeed expected to be a powerful tool to produce unprecedented molecular structures with beneficial properties for mankind.
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Modernization "began when a nation's rural population started moving from the countryside to cities." It deals with the cessation of traditional methods in order to pursue more contemporary effective methods of organization. Urbanization is an inevitable characteristic of society because the formation of industries and factories induces profit maximization. It is fair to assume that along with the increase in population, as a result of the subsequent urbanization, is the demand for an intelligent and educated labor force.
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Learning is defined as an adaptive change or modification of a behavior based on a previous experience. Since an animal's environment is constantly changing, the ability to adjust foraging behavior is essential for maximization of fitness. Studies in social insects have shown that there is a significant correlation between learning and foraging performance. In nonhuman primates, young individuals learn foraging behavior from their peers and elders by watching other group members forage and by copying their behavior.
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The anticoagulants are active until the blood is fully digested. These snails have secondary glands in the oesophagus that secrete proteins to keep the blood liquified in their guts. Furthermore, vasopressives were found and because the proboscis is thin, it is hypothesized for vasopressives to increase blood pressure to allow maximization of blood income and feeding time. This is significant because the snail's proboscis is not very muscular so without vasopressive compounds, they cannot suck blood efficiently.
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His 1930 book featured two chapters where he criticized utility from the standpoint of the integrability conditions necessary to guarantee that a demand function be the result of the maximization of some utility function. Despite being criticized by many other authors, utility remained a central concept for economics. Additionally, from the 1940s through the 1960s, Keynesianism dominated the macrodynamics discussion. Samuelson's Foundations of Economic Analysis formalized dynamics as the study of the limiting properties of systems of differential equations.
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Many of the detention centers housing immigrants are operated by private corporations who have contracts with ICE. The privatized model of detention, which is common within the United States' prison system, has raised several concerns. Without the government being directly involved, human rights abuses can go unmonitored and be difficult to uncover. The privatization model is based on profit maximization, meaning that more detainees result in more money for the private companies contracted to operate these facilities.
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Any multiply-imputed data analysis must be repeated for each of the imputed data sets and, in some cases, the relevant statistics must be combined in a relatively complicated way. The expectation-maximization algorithm is an approach in which values of the statistics which would be computed if a complete dataset were available are estimated (imputed), taking into account the pattern of missing data. In this approach, values for individual missing data-items are not usually imputed.
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Demand is often represented by a table or a graph showing price and quantity demanded (as in the figure). Demand theory describes individual consumers as rationally choosing the most preferred quantity of each good, given income, prices, tastes, etc. A term for this is "constrained utility maximization" (with income and wealth as the constraints on demand). Here, utility refers to the hypothesized relation of each individual consumer for ranking different commodity bundles as more or less preferred.
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A functional design objective for cabinet interiors involves maximization of useful space and utility in the context of the kitchen workflow. Drawers and trays in lower cabinets permit access from above and avoid uncomfortable or painful crouching. In face-frame construction, a drawer or tray must clear the face-frame stile and is narrower than the available cabinet interior space. The loss of 2 inches is particularly noticeable and significant for kitchens including multiple narrow [ or less] cabinets.
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We define a c-gap problem as follows: given an optimization (maximization or minimization) problem P, the equivalent c-gap problem distinguishes between two cases, for an input k and an instance x of problem P: : OPT_P(x) \le k. Here, the best solution to instance x of problem P has a cost, or score, below k. : OPT_P(x) > c\cdot k. Here, the best solution to instance x of problem P has a cost above c⋅k.
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"Why New Corporate Law Arises" by Robert B. Thompson in The Corporate Contract, University of Chicago Press, p. 18 Shareholder activism prioritizes wealth maximization and has been criticized as a poor basis for determining corporate governance rules. Shareholders do not decide corporate policy, that is done by the board of directors, but shareholders may vote to elect board directors and on mergers and other changes that have been approved by directors. They may also vote to amend corporate bylaws.
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Dividing these objectives even further gives way to specific goals such as the maximization of total profits, immediate profits, and present value. It is important to recognize that the cut-off grade is not simply calculated to a definitive answer. It is in fact a strategic variable that has major implications on mine design. The cut-off grade is adapted as the economic environment changes with regard to metal prices and mining costs, and is therefore a constantly changing.
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New loops of recycled products and materials, energy recovery and knowledge renewal are being created within global-sourcing (GS) networks. Product reuse/remanufacture relies on a high residual value which gives a good head start for added value maximization. The system becomes organizationally closed and potentially long-term sustainable or even trans-generations self- sustainable. The "openness" and customization of the product design, upgradeable products, flexible product platforms, mutability and waste-free strategies are being implemented.
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Self-assembled nano-structure is an object that appears as a result of ordering and aggregation of individual nano-scale objects guided by some physical principle. A particularly counter-intuitive example of a physical principle that can drive self-assembly is entropy maximization. Though entropy is conventionally associated with disorder, under suitable conditions entropy can drive nano-scale objects to self-assemble into target structures in a controllable way. Another important class of self-assembly is field-directed assembly.
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The probabilities required in the formula are calculated using an Expectation Maximization procedure, which is a method for estimating parameters in statistical models. High E-scores indicate that the two domains are likely to interact, while low scores indicate that other domains form the protein pair are more likely to be responsible for the interaction. The drawback with this method is that it does not take into account false positives and false negatives in the experimental data.
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In the 1980s Jordan started developing recurrent neural networks as a cognitive model. In recent years, his work is less driven from a cognitive perspective and more from the background of traditional statistics. Jordan popularised Bayesian networks in the machine learning community and is known for pointing out links between machine learning and statistics. He was also prominent in the formalisation of variational methods for approximate inference and the popularisation of the expectation-maximization algorithm in machine learning.
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This is usually achieved by penalizing the L^1 norm of the gradient (or the total variation) of the parameters (this approach is also referred to as the maximization of the entropy). One can also make the model simple through a parametrization that introduces freedom degrees only when necessary. Additional information may also be integrated through inequality constraints on the model parameters or some functions of them. Such constraints are important to avoid unrealistic values for the parameters (negative values for instance).
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A Word2vec model can be trained with hierarchical softmax and/or negative sampling. To approximate the conditional log-likelihood a model seeks to maximize, the hierarchical softmax method uses a Huffman tree to reduce calculation. The negative sampling method, on the other hand, approaches the maximization problem by minimizing the log-likelihood of sampled negative instances. According to the authors, hierarchical softmax works better for infrequent words while negative sampling works better for frequent words and better with low dimensional vectors.
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Many companies now also have a chief marketing officer (CMO), particularly mature companies in competitive sectors, where brand management is a high priority. A chief value officer (CVO) is introduced in companies where business processes and organizational entities are focused on the creation and maximization of value. A chief administrative officer may be found in many large complex organizations that have various departments or divisions. Additionally, many companies now call their top diversity leadership position the chief diversity officer (CDO).
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In other words, the firm wants to maximize its production without overwhelming marginal cost. In markets which do not show interdependence, this point can either be found by looking at these two curves directly, or by finding and selecting the best of the points where the gradients of the two curves (marginal revenue and marginal cost respectively) are equal. In interdependent markets, game theory must be used to derive a profit maximising solution. Another significant factor for profit maximization is market fractionation.
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Several of Gandhi's followers developed a theory of environmentalism. J. C. Kumarappa was the first, writing a number of relevant books in the 1930s and 1940s. He and Mira Behan argued against large-scale dam-and-irrigation projects, saying that small projects were more efficacious, that organic manure was better and less dangerous than man-made chemicals, and that forests should be managed with the goal of water conservation rather than revenue maximization. The Raj and the Nehru governments paid them little attention.
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Economic planning is a resource allocation system based on a computational procedure for solving a constrained maximization problem with an iterative process for obtaining its solution. Planning is a mechanism for the allocation of resources between and within organizations contrasted with the market mechanism. As an allocation mechanism for socialism, economic planning replaces factor markets with a procedure for direct allocations of resources within an interconnected group of socially owned organizations which comprise the productive apparatus of the economy.Vohra R. (2008) Planning.
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The sequential layout of introns and exons can be described using grammar theory (from linguistics) and each of their distinct evolutionary signatures modeled as a continuous-time Markov process. XRATE allows the user to specify such models in a configuration file and estimate their parameters (evolutionary rates, length distributions of exons and introns, etc.) directly from alignment data, using the Expectation-maximization algorithm. XRATE can be downloaded as part of the DART software package. It accepts input files in Stockholm format.
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For example, in the R transformation, a single voice moves by whole step; in the N or S transformation, two voices move by semitone. When common-tone maximization is prioritized, R is more efficient; when voice-leading efficiency is measured by summing the motions of the individual voices, the transformations are equivalently efficient. Early neo- Riemannian theory conflated these two conceptions. More recent work has disentangled them, and measures distance unilaterally by voice-leading proximity independently of common-tone preservation.
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For example, worker-owners may not believe that profit maximization is the best or only goal for their co-operative or they may follow the Rochdale Principles. As another example, worker cooperatives’ flattened management structure and more egalitarian ideology often give workers more options and greater freedom in resolving work-place problems.Hoffmann, Elizabeth A. (2012) Co-operative Workplace Dispute Resolution: Organizational Structure, Ownership, and Ideology, United Kingdom: Routledge Publishing. Profits (or losses) earned by the worker's cooperative are shared by worker-owners.
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Conley also mentions that this standard of equality is at the heart of a bourgeois society, such as a modern capitalist society, or "a society of commerce in which the maximization of profit is the primary business incentive". It was the equal opportunity ideology that civil rights activists adopted in the era of the Civil Rights Movement in the 1960s. This ideology was used by them to argue that Jim Crow laws were incompatible with the standard of equality of opportunity.
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This process is repeated until an optimal integer solution is found. Cutting-plane methods for general convex continuous optimization and variants are known under various names: Kelley's method, Kelley–Cheney–Goldstein method, and bundle methods. They are popularly used for non-differentiable convex minimization, where a convex objective function and its subgradient can be evaluated efficiently but usual gradient methods for differentiable optimization can not be used. This situation is most typical for the concave maximization of Lagrangian dual functions.
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The clique percolation method is a popular approach for analyzing the overlapping community structure of networks. The term network community (also called a module, cluster or cohesive group) has no widely accepted unique definition and it is usually defined as a group of nodes that are more densely connected to each other than to other nodes in the network. There are numerous alternative methods for detecting communities in networks, for example, the Girvan–Newman algorithm, hierarchical clustering and modularity maximization.
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The formalist model is closely linked to neoclassical economics, defining economics as the study of utility maximization under conditions of scarcity. All societies are therefore a collection of "choice making individuals whose every action involves conscious or unconscious selections among alternative means to alternative ends" or culturally defined goals. (Burling, 1962, quoted from Prattis, 1982:207). Goals refer not only to economic value or financial gain but to anything that is valued by the individual, be it leisure, solidarity or prestige.
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When studying the complexity class NP and harder classes such as the polynomial hierarchy, polynomial-time reductions are used. When studying classes within P such as NC and NL, log- space reductions are used. Reductions are also used in computability theory to show whether problems are or are not solvable by machines at all; in this case, reductions are restricted only to computable functions. In case of optimization (maximization or minimization) problems, we often think in terms of approximation-preserving reduction.
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Echo state networks can be built in different ways. They can be set up with or without directly trainable input-to-output connections, with or without output reservation feedback, with different neurotypes, different reservoir internal connectivity patterns etc. The output weight can be calculated for linear regression with all algorithms whether they are online or offline. In addition to the solutions for errors with smallest squares, margin maximization criteria, so-called training support vector machines, are used to determine the output values.
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Public choice, or public choice theory, is "the use of economic tools to deal with traditional problems of political science".Gordon Tullock, [1987] 2008, "public choice," The New Palgrave Dictionary of Economics. . Its content includes the study of political behavior. In political science, it is the subset of positive political theory that studies self-interested agents (voters, politicians, bureaucrats) and their interactions, which can be represented in a number of ways – using (for example) standard constrained utility maximization, game theory, or decision theory.
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Sexual dimorphism may also influence differences in parental investment during times of food scarcity. For example, in the blue-footed booby, the female chicks grow faster than the males, resulting in booby parents producing the smaller sex, the males, during times of food shortage. This then results in the maximization of parental lifetime reproductive success. In Black-tailed Godwits Limosa limosa limosa females are also the larger sex, and the growth rates of female chicks are more susceptible to limited environmental conditions.
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He expressed that it would be best to keep the company name with the first three partners names rather than extending it with each new partner. In 1954, Thomas A. Bullock, Sr. (1922-2007) became a partner. In the 1950s, they were known for building schools, with a "lean and clean" style. The schools, generally one-story, had simple designs with classrooms on one side of a corridor, maximization of windows for lighting and ventilation, and shed, flat, or gabled roofs.
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The BM principle states that the optimum of a traffic network with N network bottlenecks is reached when dynamic traffic optimization and/or control are performed in the network in such a way that the probability for spontaneous occurrence of traffic breakdown in at least one of the network bottlenecks during a given observation time reaches the minimum possible value. The BM principle is equivalent to the maximization of the probability that traffic breakdown occurs at none of the network bottlenecks.
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If is defined implicitly (by a set of constraints), the resulting problem is called a multiple-criteria design problem. The quotation marks are used to indicate that the maximization of a vector is not a well-defined mathematical operation. This corresponds to the argument that we will have to find a way to resolve the trade-off between criteria (typically based on the preferences of a decision maker) when a solution that performs well in all criteria does not exist.
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In statistics, a Tsallis distribution is a probability distribution derived from the maximization of the Tsallis entropy under appropriate constraints. There are several different families of Tsallis distributions, yet different sources may reference an individual family as "the Tsallis distribution". The q-Gaussian is a generalization of the Gaussian in the same way that Tsallis entropy is a generalization of standard Boltzmann–Gibbs entropy or Shannon entropy.Tsallis, C. (2009) "Nonadditive entropy and nonextensive statistical mechanics-an overview after 20 years", Braz.
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In some cases, the necessary conditions are also sufficient for optimality. In general, the necessary conditions are not sufficient for optimality and additional information is required, such as the Second Order Sufficient Conditions (SOSC). For smooth functions, SOSC involve the second derivatives, which explains its name. The necessary conditions are sufficient for optimality if the objective function f of a maximization problem is a concave function, the inequality constraints g_j are continuously differentiable convex functions and the equality constraints h_i are affine functions.
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Average utilitarianism values the maximization of the average utility among a group's members.Average Utilitarianism requires subscription So a group of 100 people each with 100 hedons (or "happiness points") is judged as preferable to a group of 1000 people with 99 hedons each. More counter intuitively still, average utilitarianism evaluates the existence of a single person with 100 hedons more favorably than an outcome in which a million people have an average utility of 99 hedons. Average utilitarianism may lead to repugnant conclusions if practiced strictly.
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So it is rational to assume the homo economicus model driven by a utility maximization in the first order and homo reciprocans only for second-order effects. Incentives can be by financial aspects (cheaper rate for usage) or other beneficial bonuses which may be convertible into money or not. An example are miles of a frequent-flyer program for every spatial move the user performs. Another benefit in a wireless network is granting the user a higher bit rate, but only for the conforming user.
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Predacity manages its flagship Predacity Emerging Markets High Yield Bond Fund Ltd, a BVI licensed Professional Fund that applies a deep value and bottom up approach to risk-adjusted return maximization by exploiting capital market inefficiencies. In 2010, Khaled gave a speech at the TEDxRamallah Conference, titled "Keeping Palestine Cool: A Different Kind of Underground Movement" went viral on YouTube influencing roughly 92,000 viewers. Khaled has lectured about entrepreneurship and renewable energy at Harvard University, Massachusetts Institute of Technology, McGill University, and the University of Toronto.
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Critics of behavioral economics typically stress the rationality of economic agents. A fundamental critique is provided by Maialeh (2019) who argues that no behavioral research can establish an economic theory. Examples provided on this account include pillars of behavioral economics such as satisficing behavior or prospect theory, which are confronted from the neoclassical perspective of utility maximization and expected utility theory respectively. The author shows that behavioral findings are hardly generalizable and that they do not disprove typical mainstream axioms related to rational behavior.
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Expectation-maximization algorithms can be used to estimate the unknown filter and smoother parameters for tracking the longwall shearer positions. Compared to manual control of the mine equipment, the automated system yields improved production rates. In addition to productivity gains, automating longwall equipment leads to safety benefits. The coalface is a hazardous area because methane and carbon monoxide are present, while the area is hot and humid since water is sprayed over the face to minimize the likelihood of sparks occurring when the shearer picks strike rock.
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The prime objective of the neoliberal economic theories is the maximization of the profits in order to maximize stock value. This, quite evidently, greatly differed from the objectives of the technostructure which caused massive restructuring in the 1990s. In order to maximize profits, enterprises now had to take draconian measures to cut expenses and ensure profits for the shareholders. This greatly encouraged the exportation of manual or simple tasks to foreign countries where labour is much less expensive and caused massive layoffs in developed countries.
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It includes an English presentation of the work of Takeuchi. The volume led to far greater use of AIC, and it now has more than 48,000 citations on Google Scholar. Akaike called his approach an "entropy maximization principle", because the approach is founded on the concept of entropy in information theory. Indeed, minimizing AIC in a statistical model is effectively equivalent to maximizing entropy in a thermodynamic system; in other words, the information-theoretic approach in statistics is essentially applying the Second Law of Thermodynamics.
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There are several migration patterns, it can a movement from economy class to business and to first class eventually. Also, with an initial purchase of a single product and later turning into a buyer of several different products. Learning and examination of the migration patterns can serve many tasks of the company, like customer loyalty and retention, brand loyalty, revenue and sales maximization and even the analysis of return on investment. These patterns can help evaluating different segments and the way to contact them effectively.
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The parameters of models of this sort, with non-uniform prior distributions, can be learned using Gibbs sampling or extended versions of the expectation- maximization algorithm. An extension of the previously described hidden Markov models with Dirichlet priors uses a Dirichlet process in place of a Dirichlet distribution. This type of model allows for an unknown and potentially infinite number of states. It is common to use a two-level Dirichlet process, similar to the previously described model with two levels of Dirichlet distributions.
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Neoclassical economics is an approach to economics focusing on the determination of goods, outputs, and income distributions in markets through supply and demand. This determination is often mediated through a hypothesized maximization of utility by income-constrained individuals and of profits by firms facing production costs and employing available information and factors of production, in accordance with rational choice theory,Antonietta Campus (1987), "marginal economics", The New Palgrave: A Dictionary of Economics v. 3, p. 323. a theory that has come under considerable question in recent years.
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The maximum spacing method tries to find a distribution function such that the spacings, D(i), are all approximately of the same length. This is done by maximizing their geometric mean. In statistics, maximum spacing estimation (MSE or MSP), or maximum product of spacing estimation (MPS), is a method for estimating the parameters of a univariate statistical model. The method requires maximization of the geometric mean of spacings in the data, which are the differences between the values of the cumulative distribution function at neighbouring data points.
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The Resources Group assists the firm's portfolio companies by identifying and implementing initiatives focused on growth and operational improvement. The Resources Group works with the firm's investment professionals and portfolio company management teams to develop value maximization plans ("VMPs") for each new investment. These VMPs are unique for each portfolio company and encompass a wide range of strategic initiatives, including revenue enhancement and cost management strategies, corporate governance, motivation of key management team members, financial reporting dashboards, as well as potential acquisitions and integration timelines.
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For instance, they determine the physical properties of liquids, the solubility of solids, and the organization of molecules in biological membranes. Second, in addition to the strength of the interactions, interactions with varying degrees of specificity can control self-assembly. Self-assembly that is mediated by DNA pairing interactions constitutes the interactions of the highest specificity that have been used to drive self-assembly. At the other extreme, the least specific interactions are possibly those provided by emergent forces that arise from entropy maximization.
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The slide or traction can help with Maximization of legislation to support a motor without pedaling to 6 km/h. The shift means has the advantage that you can let the bike roll alongside with motor support without pedaling or you push yourself (e.g. must, when transporting a heavy load, or so you walk up the wheel alone on a hill may be). For some models, the allowed 6 km/h can be achieved only in top gear, the other gears in the wheel rolls correspondingly slower.
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In philosophy, Pascal's mugging is a thought-experiment demonstrating a problem in expected utility maximization. A rational agent should choose actions whose outcomes, when weighed by their probability, have higher utility. But some very unlikely outcomes may have very great utilities, and these utilities can grow faster than the probability diminishes. Hence the agent should focus more on vastly improbable cases with implausibly high rewards; this leads first to counter-intuitive choices, and then to incoherence as the utility of every choice becomes unbounded.
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Charles Roos was one of the first to employ the calculus of variations to economic theory. His work follows closely that of his PhD advisor Griffith Evans and is partly inspired by the works of Vilfredo Pareto, Léon Walras, and Cournot. His main interest was to develop a dynamic theory of economics and he most commonly framed his analysis as a profit maximization problem solved by a firm. Solving this by means of differential calculus determines the optimal amount of production in a given instant of time.
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Arcidiacono, along with Robert A. Miller and John Bailey Jones, is the co-developer of using the Expectation–maximization algorithm and conditional choice probabilities (CCPs) to simplify the maximum likelihood estimation of structural econometric models. These methods allow a researcher to estimate the structural parameters of an economic model in stages because of additive separability in the objective function. Additionally, CCPs allow the researcher to estimate the structural parameters without having to fully solve the agent's dynamic decision problem. Both approaches result in substantial computational gains.
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Dr. Tal Ben-Shahar believes that Optimalists and Perfectionists show distinct different motives. Optimalists tend to have more intrinsic, inward desires, with a motivation to learn, while perfectionists are highly motivated by a need to consistently prove themselves worthy. Optimalism has also been classified into two: product optimalism and process optimalism. The former is described as an outlook that looks to provide the realization of the best possible result while the latter looks for a maximization of the chances of achieving the best possible result.
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Customer data or consumer data refers to all personal, behavioural, and demographic data that is collected by marketing companies and departments from their customer base. To some extent, data collection from customers intrudes into customer privacy, the exact limits to the type and amount of data collected need to be regulated. The data collected is processed in customer analytics. The data collection is thus aimed at insights into customer behaviour (buying decisions, etc.) and, eventually, profit maximization by consolidation and expansion of the customer base.
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In computer science, a charging argument is used to compare the output of an optimization algorithm to an optimal solution. It is typically used to show that an algorithm produces optimal results by proving the existence of a particular injective function. For profit maximization problems, the function can be any one-to-one mapping from elements of an optimal solution to elements of the algorithm's output. For cost minimization problems, the function can be any one-to-one mapping from elements of the algorithm's output to elements of an optimal solution.
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Maximizers tend to use a more exhaustive approach to their decision-making process: they seek and evaluate more options than satisficers do to achieve greater satisfaction. However, whereas satisficers tend to be relatively pleased with their decisions, maximizers tend to be less happy with their decision outcomes. This is thought to be due to limited cognitive resources people have when their options are vast, forcing maximizers to not make an optimal choice. Because maximization is unrealistic and usually impossible in everyday life, maximizers often feel regretful in their post-choice evaluation.
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The theory assumes that humans are rational and will assess options based on the expected utility they will gain from each. Research and experience uncovered a wide range of expected utility anomalies and common patterns of behavior that are inconsistent with the principle of utility maximization – for example, the tendency to overweight small probabilities and underweight large ones. Daniel Kahneman and Amos Tversky proposed prospect theory to encompass these observations and offer an alternative model. There seem to be multiple brain areas involved in dealing with situations of uncertainty.
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In statistics, the likelihood-ratio test assesses the goodness of fit of two competing statistical models based on the ratio of their likelihoods, specifically one found by maximization over the entire parameter space and another found after imposing some constraint. If the constraint (i.e., the null hypothesis) is supported by the observed data, the two likelihoods should not differ by more than sampling error. Thus the likelihood-ratio test tests whether this ratio is significantly different from one, or equivalently whether its natural logarithm is significantly different from zero.
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Cliometrics has had sharp critics. Francesco Boldizzoni summarized a common critique by arguing that cliometrics is based on the false assumption that the laws of neo- classical economics always apply to human activity. Those laws, he says, are based on rational choice and maximization as they operate in well-developed markets, and do not apply to economies other than those of the capitalist West in the modern era. Instead, Boldizzoni argues that the workings of economies are determined by social, political and cultural conditions specific to each society and time period.
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Peace Boat's Ecoship is a transformational programme to construct the planet's most environmentally sustainable cruise ship. Peace Boat organised a multi-disciplinary charrette, bringing together world experts from fields as diverse as naval architecture, renewable energy, and biophilic and biomimetic design with the goal of defining the specifications for a ‘restorative’ vessel – where radical energy efficiency and closed material flow combine for a net positive impact on the environment. It will be a flagship for climate action. Its whole-system design and maximization of renewable energy use will enable 40% CO2 cuts.
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J. Brander and B. Spencer, "Export Subsidies and International Market Share Rivalry" , Journal of International Economics, 18, 1985. Each firm chooses the quantity to supply in order to maximize profits, taking the other's choice as given. The (first order) conditions for profit maximization are xp_x+p-c_x+s=0 for the domestic firm and yp_{y}+p-c_{y}=0 for the foreign firm, where subscripted variables denote partial derivatives. Solving these for y implicitly defines a best response function for each firm; y=R1(x;s) and y=R2(x).
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Recent studies by agriculture researchers in Pakistan (one of the top four cotton producers of the world) showed that attempts of cotton crop yield maximization through pro-pesticide state policies have led to a dangerously high pesticide use. These studies have reported a negative correlation between pesticide use and crop yield in Pakistan. Hence excessive use (or abuse) of pesticides is harming the farmers with adverse financial, environmental and social impacts. By data mining the cotton Pest Scouting data along with the meteorological recordings it was shown that how pesticide use can be optimized (reduced).
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Choice under uncertainty is often characterized as the maximization of expected utility. Utility is often assumed to be a function of profit or final portfolio wealth, with a positive first derivative. The utility function whose expected value is maximized is concave for a risk averse agent, convex for a risk lover, and linear for a risk neutral agent. Thus in the risk neutral case, expected utility of wealth is simply equal to the expectation of a linear function of wealth, and maximizing it is equivalent to maximizing expected wealth itself.
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The Kelly criterion for intertemporal portfolio choice states that, when asset return distributions are identical in all periods, a particular portfolio replicated each period will outperform all other portfolio sequences in the long run. Here the long run is an arbitrarily large number of time periods such that the distributions of observed outcomes for all assets match their ex ante probability distributions. The Kelly criterion gives rise to the same portfolio decisions as does the maximization of the expected value of the log utility function as described above.
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Therefore, the Form drive's autonomy and intensity are maximized as a response to the maximization of the sense drive. "Where both these aptitudes are conjoined, man will combine the greatest fullness of existence with the highest autonomy and freedom and instead of losing himself to the world, will rather draw the latter into himself in all its infinitude of phenomena, and subject it to the unity of his reason"Schiller, p.123 This "conjoining" of the two faculties, are actually a mediation by the third fundamental drive, the play drive.
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Many statistical methods have been proposed for estimation of haplotypes. Some of the earliest approaches used a simple multinomial model in which each possible haplotype consistent with the sample was given an unknown frequency parameter and these parameters were estimated with an Expectation–maximization algorithm. These approaches were only able to handle small numbers of sites at once, although sequential versions were later developed, specifically the SNPHAP method. The most accurate and widely used methods for haplotype estimation utilize some form of hidden Markov model (HMM) to carry out inference.
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Charette SL, Garcia MB, Reuben DB. Goal-oriented care. 2015:1-19 He defined a goal as a desired outcome that is essential to the patient and proposed that four major goal types are relevant to health care: 1) prevention of premature (i.e., preventable) death and disability; 2) maximization of current health-related quality of life; 3) optimization of personal growth and development; and 4) improving the chances of a good death. Goal-directed health care is compatible with a wide variety of clinical strategies, including evidence-based medicine, Mold, JW, Hamm R, Scheid,D.
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Benefit corporation laws address concerns held by entrepreneurs who wish to raise growth capital but fear losing control of the social or environmental mission of their business. In addition, the laws provide companies the ability to consider factors other than the highest purchase offer at the time of sale, in spite of the ruling on Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc. Chartering as a benefit corporation also allows companies to distinguish themselves as businesses with a social conscience, and as one that aspires to a standard they consider higher than profit-maximization for shareholders.
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According to the utilitarian, justice requires the maximization of the total or average welfare across all relevant individuals. This may require sacrifice of some for the good of others, so long as everyone's good is taken impartially into account. Utilitarianism, in general, says that the standard of justification for actions, institutions, or the whole world, is impartial welfare consequentialism, and only indirectly, if at all, to do with rights, property, need, or any other non-utilitarian criterion. These other criteria might be indirectly important, to the extent that human welfare involves them.
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These cattle were used as dual- to triple-purpose breeds, i. e. as breeds which served as draft animals, dairy cattle and beef suppliers. No longer able to compete with modern single-purpose breeds in terms of profit maximization, they are preserved as a cultural heritage, as living gene banks, and as extensive care cattle suited both for young Swedish back-to-the-country families and for conservation projects. The Väneko has been used for conservation grazing in the Hornborgasjön nature reserve, contributing to the conservation of both the reserve and the endangered breed.
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Additionally, the APT can be seen as a "supply-side" model, since its beta coefficients reflect the sensitivity of the underlying asset to economic factors. Thus, factor shocks would cause structural changes in assets' expected returns, or in the case of stocks, in firms' profitabilities. On the other side, the capital asset pricing model is considered a "demand side" model. Its results, although similar to those of the APT, arise from a maximization problem of each investor's utility function, and from the resulting market equilibrium (investors are considered to be the "consumers" of the assets).
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A class will extract tax, produce agriculture, enslave and work others, be enslaved and work, or work for a wage. ;Subjective factors: The members will necessarily have some perception of their similarity and common interest. Marx termed this Class consciousness. Class consciousness is not simply an awareness of one's own class interest (for instance, the maximisation of shareholder value; or, the maximization of the wage with the minimization of the working day), class consciousness also embodies deeply shared views of how society should be organized legally, culturally, socially and politically.
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Authentic culture fosters the capacity of human imagination by presenting suggestions and possibilities, but in a different way than the culture industry does since it leaves room for independent thought. Authentic culture does not become channeled into regurgitating reality but goes levels beyond such. Authentic culture is unique and cannot be forced into any pre-formed schemas. As for discovering the causes of the development of the culture industry, Horkheimer and Adorno contend that it arises from companies' pursuit of the maximization of profit, in the economic sense.
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Recently, algorithms based on sequential Monte Carlo methods have been used to approximate the conditional mean of the outputs or, in conjunction with the Expectation-Maximization algorithm, to approximate the maximum likelihood estimator. These methods, albeit asymptotically optimal, are computationally demanding and their use is limited to specific cases where the fundamental limitations of the employed particle filters can be avoided. An alternative solution is to apply the prediction error method using a sub-optimal predictor.M. Abdalmoaty, ‘Learning Stochastic Nonlinear Dynamical Systems Using Non-stationary Linear Predictors’, Licentiate dissertation, Stockholm, Sweden, 2017.
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The lack of competition prevents other municipalities in that region from benefiting from the services of the private provider. The smaller public municipalities would at the same time not benefit from the free service provided by the larger city because it is designed to be subsidized by taxpayers and not concerned about the maximization of profits. The broadband provided by the government isn't largely supported to create an income on top of the private sector not being competed with enough to make a profit. Thus, making both municipal wireless networks anticompetitive.
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See biographical note in the Collected Works of Karl Marx and Frederick Engels: Volume 31 (International Publishers: New York, 1989) p. 603. The mercantilists were believers in nations keeping a positive balance of trade at all times in order to prosper, economically. However, they also valued the maximization of the national domestic resources of that nation and a total ban on the export of gold and silver. In pursuit of the positive balance of trade they recommended expansion of the colonial system, exclusivity of trade with the colonies and forbidding trade carried in foreign ships.
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Capitalism legitimizes itself through "reason," claiming that it makes "rational sense",Cornelius Castoriadis (1999). « La rationalité du capitalisme » in Figures du Pensable, Paris: Seuil. but Castoriadis observed that all such efforts are ultimately tautological, in that they can only legitimize a system through the rules defined by the system itself. So just like the Old Testament claimed that "There is only one God, God," capitalism defines logic as the maximization of utility and minimization of costs, and then legitimizes itself based on its effectiveness to meet these criteria.
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The stated goal of his successor, President Donald Trump, is to achieve "energy dominance," or the maximization of the production of fossil fuels for domestic use and for exports. In addition, the Trump administration seeks to export American know-how in coal, natural gas, and new nuclear reactor technology. As of 2016, the United States had 264 billion barrels of oil in reserve, the largest amount of any nation. It also has a vast amount of coal reserves, amounting to 26% of the world's total, more than any other nation.
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Any satisficing problem can be formulated as an optimization problem. To see that this is so, let the objective function of the optimization problem be the indicator function of the constraints pertaining to the satisficing problem. Thus, if our concern is to identify a worst-case scenario pertaining to a constraint, this can be done via a suitable Maximin/Minimax worst-case analysis of the indicator function of the constraint. This means that the generic decision theoretic models can handle outcomes that are induced by constraint satisficing requirements rather than by say payoff maximization.
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Behavioral portfolio theory (BPT), put forth in 2000 by Shefrin and Statman,SHEFRIN, H., AND M. STATMAN (2000): "Behavioral Portfolio Theory," Journal of Financial and Quantitative Analysis, 35(2), 127–151. provides an alternative to the assumption that the ultimate motivation for investors is the maximization of the value of their portfolios. It suggests that investors have varied aims and create an investment portfolio that meets a broad range of goals. It does not follow the same principles as the capital asset pricing model, modern portfolio theory and the arbitrage pricing theory.
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Underpinning the idea of a technological change as a social process is a general agreement on the importance of social context and communication. According to this model, technological change is seen as a social process involving producers and adopters and others (such as government) who are profoundly affected by cultural setting, political institutions, and marketing strategies. In free market economies, the maximization of profits is a powerful driver of technological change. Generally, only those technologies that promise to maximize profits for the owners of incoming producing capital are developed and reach the market.
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In the case of a minimization problem, "improved" means "reduced". So, in the case of a cost- minimization problem, where the objective function coefficients represent the per-unit cost of the activities represented by the variables, the "reduced cost" coefficients indicate how much each cost coefficient would have to be reduced before the activity represented by the corresponding variable would be cost-effective. In the case of a maximization problem, "improved" means "increased". In this case, where, for example, the objective function coefficient might represent the net profit per unit of the activity.
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In 2012, French President François Hollande ordered from Attali a report on the "positive economics" situation. The aim of this report was to put an end to the short-termism, to move from an individualistic economy based on the short-term to an economy based on public interest and the interest of future generations, to organize the transition from an old model based on the wealth economy to a model in which economic agents will have other obligations than profit maximization. This report, written by a wide- ranging commission, proposed 44 reforms.
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A single frame from a real-time MRI (rt-MRI) movie of a human heart. a) direct reconstruction b) iterative (nonlinear inverse) reconstruction The advantages of the iterative approach include improved insensitivity to noise and capability of reconstructing an optimal image in the case of incomplete data. The method has been applied in emission tomography modalities like SPECT and PET, where there is significant attenuation along ray paths and noise statistics are relatively poor. Statistical, likelihood-based approaches: Statistical, likelihood-based iterative expectation-maximization algorithms are now the preferred method of reconstruction.
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Industrialization propelled transformation of the economic system from agricultural age to modernized economies, and so informatization ushered the industrial age into an information-rich economy. Unlike the agricultural and industrial ages where economics refers to optimization of scarce resources, the information age deals with maximization of abundant resources. Alexander Flor (2008) wrote that informatization gives rise to information- based economies and societies wherein information naturally becomes a dominant commodity or resource. The accumulation and efficient use of knowledge has played a central role in the transformation of the economy (Linden 2004).
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Of great importance in the theory of marginal cost is the distinction between the marginal private and social costs. The marginal private cost shows the cost borne by the firm in question. It is the marginal private cost that is used by business decision makers in their profit maximization behavior. Marginal social cost is similar to private cost in that it includes the cost of private enterprise but also any other cost (or offsetting benefit) to parties having no direct association with purchase or sale of the product.
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More recently, manufacturers have developed iterative physical model-based maximum likelihood expectation maximization techniques. These techniques are advantageous because they use an internal model of the scanner's physical properties and of the physical laws of X-ray interactions. Earlier methods, such as filtered back projection, assume a perfect scanner and highly simplified physics, which leads to a number of artifacts, high noise and impaired image resolution. Iterative techniques provide images with improved resolution, reduced noise and fewer artifacts, as well as the ability to greatly reduce the radiation dose in certain circumstances.
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This suggests that loss attention may be more robust than loss aversion. Still, one might argue that loss aversion is more parsimonious than loss attention. Additional phenomena explained by loss attention: Increased expected value maximization with losses – It was found that individuals are more likely to select choice options with higher expected value (namely, mean outcome) in tasks where outcomes are framed as losses than when they are framed as gains. Yechiam and Hochman found that this effect occurred even when the alternative producing higher expected value was the one that included minor losses.
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Common market structures studied besides perfect competition include monopolistic competition, various forms of oligopoly, and monopoly. Managerial economics applies microeconomic analysis to specific decisions in business firms or other management units. It draws heavily from quantitative methods such as operations research and programming and from statistical methods such as regression analysis in the absence of certainty and perfect knowledge. A unifying theme is the attempt to optimize business decisions, including unit- cost minimization and profit maximization, given the firm's objectives and constraints imposed by technology and market conditions.
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The parameter learning task in HMMs is to find, given an output sequence or a set of such sequences, the best set of state transition and emission probabilities. The task is usually to derive the maximum likelihood estimate of the parameters of the HMM given the set of output sequences. No tractable algorithm is known for solving this problem exactly, but a local maximum likelihood can be derived efficiently using the Baum–Welch algorithm or the Baldi–Chauvin algorithm. The Baum–Welch algorithm is a special case of the expectation-maximization algorithm.
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In 2002, she served as co‐Chair of the Research Maximization and Prioritization Committee at NASA, which prioritized biological research for the International Space Station. From 2006–2007, she served as a senior advisor to the Office of the Director at the National Science Foundation. She was also a representative of the U.S. on the Council of Scientists for the International Human Frontier Science Program, an international science funding body, where she served as Chair from 2010–2012. From 2017–2019, Silver served as the President of the Society for Behavioral Neuroendocrinology.
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Walls are usually constructed so that the log ends protrude from the mortar by a small amount (an inch or less). Walls typically range between 8 and 24 inches thick, though in northern Canada, some walls are as much as 36 inches thick. Cordwood homes are attractive for their visual appeal, maximization of interior space (with a rounded plan), economy of resources, and ease of construction. Wood usually accounts for about 40-60% of the wall system, the remaining portion consisting of a mortar mix and insulating fill.
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The VCG mechanism can be adapted to situations in which the goal is to minimize the sum of costs (instead of maximizing the sum of gains). Costs can be represented as negative values, so that minimization of cost is equivalent to maximization of values. The payments in step 3 are negative: each agent has to pay the total cost incurred by all other agents. If agents are free to choose whether to participate or not, then we must make sure that their net payment is non-negative (this requirement is called individual rationality).
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Didier G. Leibovici and Christian Beckmann, An introduction to Multiway Methods for Multi-Subject fMRI experiment, FMRIB Technical Report 2001, Oxford Centre for Functional Magnetic Resonance Imaging of the Brain (FMRIB), Department of Clinical Neurology, University of Oxford, John Radcliffe Hospital, Headley Way, Headington, Oxford, UK. The negentropy of a distribution is equal to the Kullback–Leibler divergence between p_x and a Gaussian distribution with the same mean and variance as p_x (see Differential entropy#Maximization in the normal distribution for a proof). In particular, it is always nonnegative.
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Choice under uncertainty is often characterized as the maximization of expected utility. Utility is often assumed to be a function of profit or final portfolio wealth, with a positive first derivative. The utility function whose expected value is maximized is convex for a risk- seeker, concave for a risk-averse agent, and linear for a risk-neutral agent. Its convexity in the risk-seeking case has the effect of causing a mean- preserving spread of any probability distribution of wealth outcomes to be preferred over the unspread distribution.
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The problem of developing an online algorithm for matching was first considered by Richard M. Karp, Umesh Vazirani, and Vijay Vazirani in 1990. In the online setting, nodes on one side of the bipartite graph arrive one at a time and must either be immediately matched to the other side of the graph or discarded. This is a natural generalization of the secretary problem and has applications to online ad auctions. The best online algorithm, for the unweighted maximization case with a random arrival model, attains a competitive ratio of 0.696.
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Yield management has become part of mainstream business theory and practice over the last fifteen to twenty years. Whether an emerging discipline or a new management science (it has been called both), yield management is a set of yield maximization strategies and tactics to improve the profitability of certain businesses. It is complex because it involves several aspects of management control, including rate management, revenue streams management, and distribution channel management. Yield management is multidisciplinary because it blends elements of marketing, operations, and financial management into a highly successful new approach.
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The transform is a tweaked version of Dijkstra’s shortest-path algorithm that is optimized for using more than one input and the maximization of digital image processing operators. The transform makes a graph of the pixels in an image and the connections between these points are the "cost" of the path portrayed. The cost is calculated by inspecting the characteristics, for example grey scale, color, gradient among many others, of the path between pixels. Trees are made by connecting the pixels that have the same or close cost for applying the operator decided upon.
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The runoff step was introduced in order to correct for strategic distortion in ordinary score voting, such as Bullet voting and tactical maximization. Score voting in which only two different votes may be submitted (0 and 1, for example) is equivalent to approval voting. As with approval voting, score voters must weigh the adverse impact on their favorite candidate of ranking other candidates highly. The term "range voting" is used to describe a more theoretical system in which voters can express any real number within the range [0, 1].
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When managers hold little equity and shareholders are too dispersed to take action against non-value maximization behavior, insiders may deploy corporate actions to obtain personal benefits, such as shirking and perquisite consumption. When ownership and control is divided within a company, agency costs arise. However agency costs decline if the ownership within the company increases as managers are responsible for a larger shares of these costs. On the other hand, giving ownership to a manager within a company may translate into greater voting power which makes the manager's workplace more secure.
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Ete, 1965, pp. 11–18, and a rejoinder 'Réponse a un appel' by J. Ostrowski, ibid,, No. 19, Ete, 1967, pp. 21–26 Ludwig von Mises was influenced by several theories in forming his work on praxeology, including Immanuel Kant's works, Max Weber's work on methodological individualism, and Carl Menger's development of the subjective theory of value. Philosopher of science Mario Bunge published works of systematic philosophy that included contributions to praxeology, and Bunge dismissed von Mises's version of praxeology as "nothing but the principle of maximization of subjective utility—a fancy version of egoism".
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When conducting his economic analysis, Buchanan used methodological individualism, rational choice, individual utility maximization, and politics as exchange. Buchanan's important contribution to constitutionalism is his development of the sub-discipline of constitutional economics. According to Buchanan the ethic of constitutionalism is a key for constitutional order and "may be called the idealized Kantian world" where the individual "who is making the ordering, along with substantially all of his fellows, adopts the moral law as a general rule for behaviour".James Buchanan, The Logical Foundations of Constitutional Liberty, Volume 1, Liberty Fund, Indianapolis, 1999, p.
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This algorithm has the advantage of being simple while having a low requirement for computing resources. Disadvantages are that shot noise in the raw data is prominent in the reconstructed images, and areas of high tracer uptake tend to form streaks across the image. Also, FBP treats the data deterministically—it does not account for the inherent randomness associated with PET data, thus requiring all the pre-reconstruction corrections described above. Statistical, likelihood-based approaches: Statistical, likelihood-based iterative expectation-maximization algorithms such as the Shepp-Vardi algorithm are now the preferred method of reconstruction.
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However, although the JSP favored maximization of proportional representation, the LDP desired the most SMD seats possible. As for the anti-corruption issues, the LDP advocated a more relaxed regime, while the JSP wanted to ensure legislation against money- related corruption. By November 1993, Hosokawa and the new LDP President Kono Yohei put forth a compromise proposal with 274 SMD seats and 226 proportional representation seats. Although this proposal passed in the lower house, in January 1994, members from both the JSP and the LDP voted against this proposal in the lower house.
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Farmer is considered one of the founders of the field of "econophysics". This is distinguished from economics by a more data-driven approach to building fundamental models, breaking away from the standard theoretical template used in economics of utility maximization and equilibrium. Together with Michael Dempster of Cambridge, Farmer started a new journal called Quantitative Finance and served as the co- editor-in-chief for several years. His contributions to market microstructure include the identification of several striking empirical regularities in financial markets, such as the extraordinary persistence of order flow.
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Author Daniel H. Pink described the company's business model as "expressly built for purpose maximization", whereby Toms is selling both shoes and its ideal. Toms' consumer market are purchasing shoes and also making a purchase that transforms them into benefactors for the company. Another phrase used to try to describe the business model has been "caring capitalism". Part of how Toms has developed this description is by incorporating the giving into its business model before it made a profit, making it as integral to the business model as its revenue generating aspects.
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For this model of collective intelligence, the formal definition of IQS (IQ Social) was proposed and was defined as "the probability function over the time and domain of N-element inferences which are reflecting inference activity of the social structure". While IQS seems to be computationally hard, modeling of social structure in terms of a computational process as described above gives a chance for approximation. Prospective applications are optimization of companies through the maximization of their IQS, and the analysis of drug resistance against collective intelligence of bacterial colonies.
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In today's interconnected economy and open competition, vertical co-opetition (as opposed to horizontal co-opetition with global rivals) with foreign suppliers and distributors can result in immense benefits. MNEs embrace these vertical co-opetiting players as potential collaborators because of intensified requirements for speed, integration and synchronization of entire value chain activities. Nevertheless, MNEs bargain and compete with their global suppliers and distributors toward self-profit maximization. Partnering with suppliers ensures lower purchase price, better quality, timely delivery, access to complementary competencies, and greater supports in product development.
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Milgrom and Roberts first came on the ideas and applicability of complements when studying an enriched version of the classic news vendor problem of how to organize production that allowed both make to order after learning demand and make to stock (Milgrom and Roberts, 1988). The problem they formulated turned out to be a convex maximization problem, so the solutions were end points, not interior optima where first derivatives were zero. So the Hicks-Samuelson methods for comparative statics were not applicable. Yet they got rich comparative statics results.
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Gaussian adaptation has also been used for other purposes as for instance shadow removal by "The Stauffer-Grimson algorithm" which is equivalent to Gaussian adaptation as used in the section "Computer simulation of Gaussian adaptation" above. In both cases the maximum likelihood method is used for estimation of mean values by adaptation at one sample at a time. But there are differences. In the Stauffer-Grimson case the information is not used for the control of a random number generator for centering, maximization of mean fitness, average information or manufacturing yield.
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The rules are equivalent--if one divides both sides of inequality TR > VC (total revenue exceeds variable costs) by the output quantity Q one obtains P > AVC (price exceeds average variable cost). If the firm decides to operate it will produce where marginal revenue equals marginal costs because these conditions insure profit maximization (or equivalently, when profit is negative, loss minimization).Samuelson, W & Marks, S (2006) p.286. Another way to state the rule is that a firm should compare the profits from operating to those realized if it shut down, and select the option that produces the greater profit (positive or negative).
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In molecular ultrasonography, the technique of acoustic radiation force (also used for shear wave elastography) is applied in order to literally push the targeted microbubbles towards microvessels wall; firstly demonstrated by Dr Paul Dayton in 1999. This allows maximization of binding to the malignant tumor; the targeted microbubbles being in more direct contact with cancerous biomolecules expressed at the inner surface of tumoral microvessels. At the stage of scientific preclinical research, the technique of acoustic radiation force was implemented as a prototype in clinical ultrasound systems and validated in vivo in 2D and 3D imaging modes.
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Under-determined models may be used in cases where many different distributed areas are activated ("distributed source solutions"): there are infinitely many possible current distributions explaining the measurement results, but the most likely is selected. Localization algorithms make use of given source and head models to find a likely location for an underlying focal field generator. One type of localization algorithm for overdetermined models operates by expectation-maximization: the system is initialized with a first guess. A loop is started, in which a forward model is used to simulate the magnetic field that would result from the current guess.
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This broad view (for example, comparing Le Chatelier's principle to tâtonnement) drives the fundamental premise of mathematical economics: systems of economic actors may be modeled and their behavior described much like any other system. This extension followed on the work of the marginalists in the previous century and extended it significantly. Samuelson approached the problems of applying individual utility maximization over aggregate groups with comparative statics, which compares two different equilibrium states after an exogenous change in a variable. This and other methods in the book provided the foundation for mathematical economics in the 20th century.
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A prominent entry-point for challenging the market model's applicability concerns exchange transactions and the homo economicus assumption of self-interest maximization. , a number of streams of economic sociological analysis of markets focus on the role of the social in transactions and on the ways transactions involve social networks and relations of trust, cooperation and other bonds. Economic geographers in turn draw attention to the ways exchange transactions occur against the backdrop of institutional, social and geographic processes, including class relations, uneven development and historically contingent path-dependencies.Martin, Ron (2000) "Institutional Approaches in Economic Geography", Handbook of Economic Geography.
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A machine translation expert, Knight approached language translation as if all languages were ciphers, effectively treating foreign words as symbols for English words. His approach, which tasked an expectation- maximization algorithm with generating every possible match of foreign and English words, enabled the algorithm to figure out a few words with each pass. A comparison with 80 languages confirmed that the original language was likely German, which the researchers had guessed based on the word "Philipp," a German spelling. Knight then used a combination of intuition and computing techniques to decipher most of the code in a few weeks.
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Jeremy Bentham, best known for his advocacy of utilitarianism In summary, Jeremy Bentham states that people are driven by their interests and their fears, but their interests take precedence over their fears; their interests are carried out in accordance with how people view the consequences that might be involved with their interests. Happiness, in this account, is defined as the maximization of pleasure and the minimization of pain. It can be argued that the existence of phenomenal consciousness and "qualia" is required for the experience of pleasure or pain to have an ethical significance.Levy, Neil. 2014.
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An L-reduction from problem A to problem B implies an AP- reduction when A and B are minimization problems and a PTAS reduction when A and B are maximization problems. In both cases, when B has a PTAS and there is an L-reduction from A to B, then A also has a PTAS. This enables the use of L-reduction as a replacement for showing the existence of a PTAS-reduction; Crescenzi has suggested that the more natural formulation of L-reduction is actually more useful in many cases due to ease of usage.
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Lin and Vartanian developed a framework that provides an integrative neurobiological description of creative cognition. This interdisciplinary framework integrates theoretical principles and empirical results from neuroeconomics, reinforcement learning, cognitive neuroscience, and neurotransmission research on the locus coeruleus system. It describes how decision-making processes studied by neuroeconomists as well as activity in the locus coeruleus system underlie creative cognition and the large-scale brain network dynamics associated with creativity. It suggests that creativity is an optimization and utility-maximization problem that requires individuals to determine the optimal way to exploit and explore ideas (multi-armed bandit problem).
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Behavioral portfolio theory (BPT) combined mental accounting with the redefinition of risk as the probability of failing to achieve a goal, and investors balance returns over-and-above their requirement with the risk of failing to achieve the goal. BPT also revealed a problem with adapting MPT. While most practitioners were building investment portfolios wherein the portfolio's expected return equaled the required return required to achieve the goal, BPT showed that this necessarily results in a 50% probability of achieving the goal. The probability maximization component of goals-based investing was therefore adopted from behavioral portfolio theory.
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Stochastic Network Optimization with Application to Communication and Queueing Systems, Morgan & Claypool, 2010. This is done by defining an appropriate set of virtual queues. It can also be used to produce time averaged solutions to convex optimization problems. M. J. Neely, "[Distributed and Secure Computation of Convex Programs over a Network of Connected Processors Distributed and Secure Computation of Convex Programs over a Network of Connected Processors]," DCDIS Conf, Guelph, Ontario, July 2005 S. Supittayapornpong and M. J. Neely, "Quality of Information Maximization for Wireless Networks via a Fully Separable Quadratic Policy," arXiv:1211.6162v2, Nov. 2012.
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Another online method of cheating is "multiaccounting", where a player will register several accounts to their name (or, perhaps more commonly, to non-poker-playing friends and family members). This might be done to help enable the collusion previously mentioned, or perhaps to simply enable a well-known player to play incognito. However, another common motive for multi-accounting is to facilitate chip dumping and other methods of equity maximization in online tournaments. A major difference between cash games and tournaments is that tournament winnings tend to be much less consistent over the short to medium term.
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Thermal conductivity is a common property targeted for maximization by creating thermal composites. In this case, the basic idea is to increase thermal conductivity by adding a highly conducting solid (such as the copper mesh) into the relatively low-conducting PCM, thus increasing overall or bulk (thermal) conductivity. If the PCM is required to flow, the solid must be porous, such as a mesh. Solid composites such as fiberglass or kevlar prepreg for the aerospace industry usually refer to a fiber (the kevlar or the glass) and a matrix (the glue, which solidifies to hold fibers and provide compressive strength).
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Here, the wheat crop has a tolerance for soil salinity up to the level of EC=7.1 dS/m instead of 4.6 in the blue figure. However, the fit of the data beyond the threshold is not as well as in the blue figure that has been made using the principle of minimization of the sum of squares of deviations of the observed values from the regression lines over the whole domain of explanatory variable X (i.e. maximization of the coefficient of determination), while the partial regression is designed only to find the point where the horizontal trend changes into a sloping trend.
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Rivers are less noticeable with proportional fonts, due to narrow spacing. Another cause of rivers is the close repetition of a long word or similar words at regular intervals, such as "maximization" with "minimization" or "optimization". Rivers occur because of a combination of the x-height of the typeface (whether the type appears broad or skinny), the values assigned to the widths of various characters, and the degree of control over character spacing and word spacing. Broader typefaces are more prone to exhibit rivers, as are the less sophisticated typesetting applications that offer little control over spacing.
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In 1973-80, the high school department took over completely the extension site for the reason of the effective administration and maximization in the utilization of the time of the personnel. But it was only in school year 1993-1994 that the entire high school department was moved to the extension site with added new classrooms under the administration of Sr. Teresita Limsiaco. In the year 1994-95 Sr. Ofelia Versoza was assigned as Directress. In the following year, it was taken over by Sr. Mary Aquilla Sy who served as School Head from 1995-2000.
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ICA finds the independent components (also called factors, latent variables or sources) by maximizing the statistical independence of the estimated components. We may choose one of many ways to define a proxy for independence, and this choice governs the form of the ICA algorithm. The two broadest definitions of independence for ICA are # Minimization of mutual information # Maximization of non-Gaussianity The Minimization-of-Mutual information (MMI) family of ICA algorithms uses measures like Kullback-Leibler Divergence and maximum entropy. The non-Gaussianity family of ICA algorithms, motivated by the central limit theorem, uses kurtosis and negentropy.
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If some coefficients in rare positive, then it may be possible to increase the maximization target. For example, if x_5is non-basic and its coefficient in ris positive, then increasing it above 0 may make zlarger. If it is possible to do so without violating other constraints, then the increased variable becomes basic (it "enters the base"), while another non-basic variable is decreased to 0 to keep the equality constraints and thus becomes non-basic (it "exits the base"). If this process is done carefully, then it is possible to guarantee that z increases until it reaches the optimal BFS.
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China fits the model for the M-form as a result of their usage of multilevel models, goals of profit maximization, and the performance-driven nature of China's economic reforms (Peng). The inadequacy of the U-form resulted from issues with the structure of the corporate hierarchies within the corporations; the M-form certainly demonstrates strength in the hierarchical areas especially in terms of communication that the Chinese companies require. Another form of operating that foreign countries are taking into question is the holding form (H-form). This form of organizing is essentially a "holding" company with a small headquarters office.
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By setting a goal that is based on maximization, people may feel that there is a set level that the group needs to be achieved. Because of this, they feel that they can work less hard for the overall desired effect. For example, in the Latane et al. clapping and shouting study, people who were alone but told that they were part of a group screaming or clapping could have thought that there was a set level of noise that experimenters were looking for, and so assumed they could work less hard to achieve this level depending on the size of the group.
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When there are no uncertainties in the constraints, it reduces to a constrained utility-maximization problem. (This second equivalence arises because the utility of a function can always be written as the probability of that function exceeding some random variable.) Because it changes the constrained optimization problem associated with reliability-based optimization into an unconstrained optimization problem, it often leads to computationally more tractable problem formulations. In the marketing field there is a huge literature about optimal design for multiattribute products and services, based on experimental analysis to estimate models of consumers' utility functions. These methods are known as Conjoint Analysis.
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In economics, profit maximization is the short run or long run process by which a firm may determine the price, input, and output levels that lead to the highest profit. Neoclassical economics, currently the mainstream approach to microeconomics, usually models the firm as maximizing profit. There are several perspectives one can take on this problem. First, since profit equals revenue minus cost, one can plot graphically each of the variables revenue and cost as functions of the level of output and find the output level that maximizes the difference (or this can be done with a table of values instead of a graph).
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Allowing the subcooling process to occur outside the condenser (as with an internal heat exchanger) is a method of using all of the condensing device's heat exchanging capacity. A huge portion of refrigeration systems use part of the condenser for subcooling which, though very effective and simple, may be considered a diminishing factor in the nominal condensing capacity. A similar situation may be found with superheating taking place in the evaporator, thus an internal heat exchanger is a good and relatively cheap solution for the maximization of heat exchanging capacity. Another widespread application of subcooling is boosting and economising.
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NBK's head office and main factory, NBK Seki Plant, are located in Seki city, Gifu prefecture. The former President, Taichi Okamoto, wanted the site to be a “garden factory” so it is surrounded by a swimming pool, art museum, bar, sports gym, concert hall and training and conference rooms. Okamoto believed that management concepts such as management by objectives and pay for performance were contrary to the maximization of creativity and productivity, therefore all employees are not bound by any revenue goals and are allowed to act freely. In 2007, Okamoto resigned his position as President and became the Chairman of NBK.
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In welfare economics, a social planner is a decision-maker who attempts to achieve the best result for all parties involved. In neo-classical welfare economics, this means the maximization of a social welfare function. In modern welfare economics, there is a greater emphasis on Pareto optimality, in which no one's economic status can be improved without worsening someone else's. Pareto-optimal solutions are not unique, and according to the Second Fundamental Theorem of Welfare Economics, a social planner can achieve any Pareto-optimal outcome by an appropriate redistribution of wealth by means of competitive market.
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Neoclassical economics assumes a person to be as follows: > [A] lightning calculator of pleasures and pains, who oscillates like a > homogeneous globule of desire of happiness under the impulse of stimuli that > shift about the area, but leave him intact.Thorstein Veblen (1898) Why Is > Economics Not an Evolutionary Science?, reprinted in The Place of Science in > Modern Civilization (New York, 1919), p. 73. Large corporations might perhaps come closer to the neoclassical ideal of profit maximization, but this is not necessarily viewed as desirable if this comes at the expense of neglect of wider social issues.
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Limited computational facilities of computers and human minds, the cost of gathering and interpreting information, and often a diffuse uncertainty prevent the expression of rational behavior in terms of straightforward maximization. Rational behavior produces instead a set of more or less conscious rules of procedure” (p. 374). This REMM can be contrasted with alternative “conceptions of man”, namely the “political”, “sociological”, and “psychological” ones. Brunner and Meckling (1977) notably applied this approach to the analysis of the government: “Much of the conflict about government can... be reduced to the conflict between alternative models of man” (p. 85).
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Often pronounced in a way that indicates evading specifics, anything provides full freedom about the something that is supposedly covered by the word. "Anything goes" indicates maximization of freedom, just like "Do as you please" means there are no restrictions other than the restrictions put in place by oneself. One can make the statement that anything is a specific word where everything can be seen as a general word. Still, both meanings may readily be understood by everyone, while their definitions will equally contain some aspects of murkiness as to what is included and what is not.
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If government seeks equality of opportunity for citizens to get health care by rationing services using a maximization model to try to save money, new difficulties might emerge. For example, trying to ration health care by maximizing the "quality-adjusted years of life" might steer monies away from disabled persons even though they may be more deserving, according to one analysis.Brock, Dan W., 2000, "Health Care Resource Prioritization and Discrimination against Persons with Disabilities," in Leslie Pickering Francis and Anita Silvers, eds., Americans with Disabilities: Exploring Implications of the Law for Individuals and Institutions, New York and London: Routledge, pp. 223–35.
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When the application balances demand against supply through direct control of product availability, as is common in many yield management applications, producing good time-phased forecasts requires either capturing the demand which doesn't result in a sale or booking directly (often referred to as "turndowns" or "loss data"); or using some scientific method to estimate the unobserved demand. Conventionally, these methods are referred to as "unconstraining methods", include manual adjustment, averaging methods, Expectation Maximization (EM) methods, exponential smoothing methods.Crystal, C., Ferguson, M., Higbie, J., Kapoor, R. (2007). 'A Comparison of Unconstraining Methods to Improve Revenue Management Systems', Production and Operations Management, Vol.
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However, a detrimental aspect of such ratio optimizations is that, once the achieved ratio in some state is high, the optimization might select states leading to a low ratio because they bear a high probability of termination, so that the process is likely to terminate before the ratio drops significantly. A problem setting to prevent such early terminations consists of defining the optimization as maximization of the future ratio seen by each state. An indexation is conjectured to exist for this problem, be computable as simple variation on existing restart-in-state or state elimination algorithms and evaluated to work well in practice.
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Driver's cab on a DB class 101 The class 101 units feature the automatic drive and brake control system (AFB, or Automatische Fahr- und Bremssteuerung), which assists the driver and enables the best possible acceleration and braking under all possible conditions. The AFB can also keep the locomotive at a constant speed. Class 101 also was outfitted with the Superschlupfregelung ("super slip control"), which controls the maximum number of rotations of the wheels per minute, and can automatically limit the rotations in order to avoid damage to the wheel surface or switch on the sand. This enables the maximization of the functional grip between wheel and rail.
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Hoffman is the co-author of a patent for an internal combustion engine with increased thermal efficiency.US Patent & Trademark Office, Patent Full Text and Image Database - patent 4,584,972 He is also the inventor of a solar panel using concentrating photovoltaics (CPV) for increased efficiency.World Intellectual Property Organization, Patent Full Text and Image Database - international patent application PCT/US2009/046606 He is President of the California solar company, Sun Synchrony, which is developing the prototype for Hoffman's CPV design, the ArcSol panel.Sun Synchrony: About Hoffman has also written several technical papers about the technology, including, 'Solar Panel Performance Survey', and 'Area Efficiency, Light Capture Efficiency, and their Maximization in Solar Tracking Arrays'.
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John Sinko and Clifford Schlecht researched a form of reversed-thrust laser propulsion as a macroscopic laser tractor beam. Intended applications include remotely manipulating space objects at distances up to about 100 km, removal of space debris, and retrieval of adrift astronauts or tools on-orbit. In March 2011, Chinese scientists posited that a specific type of Bessel beam (a special kind of laser that does not diffract at the centre) is capable of creating a pull- like effect on a given microscopic particle, forcing it towards the beam source. The underlining physics is the maximization of forward scattering via interference of the radiation multipoles.
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WS-Policy4MASC extends a widely used industrial standard, WS-Policy, with information necessary for run-time management, including the unique support for autonomic business-driven IT management (BDIM). The specifications of diverse financial and non-financial business value metrics and business strategies that guide business-value driven selection among alternative control (adaptation) actions are the main distinctive characteristics and contributions of WS-Policy4MASC. WS- Policy4MASC also supports other management aspects, such as fault management and maximization of technical QoS metrics. It has built-in constructs for specification of a wide range of adaptations and events common in management of service-oriented systems and business processes they implement.
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The maximization/minimization of the Rayleigh quotient in a 3-dimensional subspace can be performed numerically by the Rayleigh–Ritz method. As the iterations converge, the vectors x^i and x^{i-1} become nearly linearly dependent, making the Rayleigh–Ritz method numerically unstable in the presence of round-off errors. It is possible to substitute the vector x^{i-1} with an explicitly computed difference p^i=x^{i-1}-x^i making the Rayleigh–Ritz method more stable; see. This is a single-vector version of the LOBPCG method—one of possible generalization of the preconditioned conjugate gradient linear solvers to the case of symmetric eigenvalue problems.
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Mobility maximization and frontier minimization can be broken down into local configurations which can be added together; the usual implementation is to evaluate each row, column, diagonal and corner configuration separately and add together the values, lots of different patterns have to be evaluated. The process of determining values for all configurations is done by taking a large database of games played between strong players and calculating statistics for each configuration in each game stage from all the games. The most common choice to predict the final disc difference uses a weighted disk difference measure where the winning side gets a bonus corresponding to the number of disks.
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After collecting the relevant data, market segmentation is the key to market-based pricing and revenue maximization. Airlines, for example, employed this tactic in differentiating between price-sensitive leisure customers and price-insensitive business customers. Leisure customers tend to book earlier and are flexible about when they fly and are willing to sit in coach seats to save more money for their destination, whereas business customers tend to book closer to departure and are typically less price sensitive. Success hinges on the ability to segment customers into similar groups based on a calculation of price responsiveness of customers to certain products based upon the circumstances of time and place.
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A journal article by Anthony C. Lopez, Rose McDermott and Michael Bang Petersen uses this idea to give out hypothesis to explain political events. According to the authors, instincts and psychological characteristics developed through evolution is still existent with modern people. They suggest human being as "adaptation executers"; people designed through natural selection, and not "utility maximizers"; people who strive for utility in every moment. Though a group of people, perhaps those who are in the same political coalition, may seem as if they pursue a common utility maximization, it is difficult to generalize the theory of "utility maximizers" into a nation-view because people evolved in small groups.
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While in college, Hurst was assistant to the producer, his mother, while she produced several years of the Philadelphia segment of The Variety Club Telethon. In 2006, Hurst developed and launched the Rapid Cross Media Initiative to assist broadcast clients to extend their programming to audiences and communities on new platforms. The vision, according to Hurst, was to allow for the maximization of assets and best-in-class technology vendors to "talk to each other" and to be efficiently integrated into the production process. As a consultant, Hurst promoted this idea while helping develop the original user experience for TiVo, a DVR and multi-room experience.
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Empire Earth II / Empire Earth II: The Art of Supremacy - Unofficial patch 1.5 - Multilanguage on ee2.eu (3 August 2014) Among other things, the unofficial patch supports all possible screen resolutions, fixes maximization problems on Windows 8 / 8.1 / 10 and enabled DirectX 9 support to fix problems with only integrated graphics card being detected on Nvidia Optimus laptop under Windows 10.Games based on DirectX 8 and older versions of DirectX will only run on integrated graphics in an Optimus laptop under Windows 10 On 16 October 2015, Dr.MonaLisa (the creator of Unofficial Patches) released Unofficial Version 1.5.5 which brings back the old Multiplayer Lobby,EE2.
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Arison expressed regret for the layoffs, characterizing management's decision as an example of national responsibility. Critics rejected her argument as being poorly constructed, claiming that her remarks only seemed to demonstrate that for the country's wealthiest, national responsibility means profit maximization. Histadrut labor union chairman Amir Peretz, who was facing upcoming Histadrut leadership elections, then led a campaign personally attacking Arison, publishing billboards with the slogan 'Shari Arison laughs, 900 families cry'. Agitated about the slogan, Arison threatened Poster Media, the company that put up the billboards and which was partly owned by Arison, with a $10 million libel suit, successfully halting the campaign.
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Evans first work in mathematical economics, entitled A Simple Theory of Competition a restatement of Augustine Cournot's monopoly/duopoly model. Evans expanded Cournot's work in significantly by exploring the analytical implications of a variety of different assumptions as to the behavior and objectives of either the monopolist or the duopolists. His following work, The Dynamics of Monopoly, published in 1924, was one of the first to apply the calculus of variations to economic theory. He frames the same monopolist problem now in an intertemporal framework, that is, instead of seeking immediate profit-maximization, the monopolist aims to make his profits as maximum through an interval of time.
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After his PhD he spent a year as a postdoctoral researcher in Jennifer Chayes's group at Microsoft Research, New England. Daskalakis works on the theory of computation and its interface with game theory, economics, probability theory, statistics and machine learning. He has resolved long-standing open problems about the computational complexity of the Nash equilibrium, the mathematical structure and computational complexity of multi-item auctions, and the behavior of machine-learning methods such as the expectation–maximization algorithm. He has obtained computationally and statistically efficient methods for statistical hypothesis testing and learning in high-dimensional settings, as well as results characterizing the structure and concentration properties of high-dimensional distributions.
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For Famous Figures in Diagrams and Economics by Mark Blaug and Peter Lloyd, Humphrey wrote the first chapter, Marshallian Cross Diagrams and Chapter 55, Intertemporal utility maximization – the Fisher diagram. Humphrey's works on monetary theory are cited in David Laidler's book Fabricating the Keynesian Revolution: Studies of the Inter-War Literature on Money, the Cycle, and Unemployment. In 2006, Federal Reserve Chairman Ben S. Bernanke at the Fourth ECB Central Banking Conference, Frankfurt, Germany, cited Humphrey's article on the real bills doctrine. In 2008 Humphrey gave the Fourth Annual Ranlett Lecture in Economics at California State University, Sacramento, entitled Lender of Last Resort: The Concept in History.
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The Hydrotreater Unit (HDT) enables the Refinery to produce High Speed Diesel of very low sulphur and cetane number conforming to BIS specifications. The HDT also produces ATF, Superior Kerosene Oil with high smoke point and low sulphur. The Indane Maximization (INDMAX) technology developed by R&D; Centre of Indian Oil installed at the Refinery is designed to achieve LPG yield as high as 44% through Fluidized Catalytic Cracking of residual feed stocks like Reduced Crude Oil, Coker Fuel Oil and Coker Gasolene. The INDMAX unit also enables Guwahati Refinery to upgrade all its residual products to high value distillate products and make it a zero residue Refinery.
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The following example is based on an example in Christopher M. Bishop, Pattern Recognition and Machine Learning. Imagine that we are given an N×N black-and-white image that is known to be a scan of a hand-written digit between 0 and 9, but we don't know which digit is written. We can create a mixture model with K=10 different components, where each component is a vector of size N^2 of Bernoulli distributions (one per pixel). Such a model can be trained with the expectation-maximization algorithm on an unlabeled set of hand-written digits, and will effectively cluster the images according to the digit being written.
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When we start, this membership is unknown, or missing. The job of estimation is to devise appropriate parameters for the model functions we choose, with the connection to the data points being represented as their membership in the individual model distributions. A variety of approaches to the problem of mixture decomposition have been proposed, many of which focus on maximum likelihood methods such as expectation maximization (EM) or maximum a posteriori estimation (MAP). Generally these methods consider separately the questions of system identification and parameter estimation; methods to determine the number and functional form of components within a mixture are distinguished from methods to estimate the corresponding parameter values.
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According to the Marxist understanding of capitalism as production for profit, it is impossible to prioritize environmental sustainability without abolishing capitalism. Ernest Mandel claims that when profit maximization requires a business to pollute the air, "the simple right to clean air is abolished". Under his conception of capitalism, profit necessarily subjugates the environment, and properly accounting for the social costs of production requires some form of socialist planning. Any attempt to adequately protect the environment within such a capitalist framework is doomed to fail, so the argument goes, because society simply is not structured to be willing to sacrifice private profits for public endeavors on this scale.
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Profit maximization using the total revenue and total cost curves of a perfect competitor To obtain the profit maximizing output quantity, we start by recognizing that profit is equal to total revenue (TR) minus total cost (TC). Given a table of costs and revenues at each quantity, we can either compute equations or plot the data directly on a graph. The profit-maximizing output is the one at which this difference reaches its maximum. In the accompanying diagram, the linear total revenue curve represents the case in which the firm is a perfect competitor in the goods market, and thus cannot set its own selling price.
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In 2016, Cheung claimed to have written "1,500 articles and 20 books in Chinese" during his academic career. He obtained his PhD in economics from UCLA, where his teachers were the American economists Armen Alchian and Jack Hirshleifer. He taught in the Department of Economics at the University of Washington from 1969 to 1982, and then at the University of Hong Kong from 1982 to 2000. During this period, Cheung reformed the syllabus of Hong Kong's A-level Economics examination, adding the concepts of the postulate of constrained maximization, methodology, transaction cost and property right, most of which originate from the theories of the Chicago school.
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A highly practical example of latent variable models in machine learning is the topic modeling which is a statistical model for generating the words (observed variables) in the document based on the topic (latent variable) of the document. In the topic modeling, the words in the document are generated according to different statistical parameters when the topic of the document is changed. It is shown that method of moments (tensor decomposition techniques) consistently recover the parameters of a large class of latent variable models under some assumptions. The Expectation–maximization algorithm (EM) is also one of the most practical methods for learning latent variable models.
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Usually in hospitality this relates to the cost reductions associated with improved energy efficiency but may also relate to, for example, the rise in ethical consumerism and the view that being seen to be a responsible business is beneficial to revenue growth. As per the Cape Town Declaration on Responsible Tourism, responsible hospitality is culturally sensitive. Instead of then calling for the unachievable, responsible hospitality simply makes the case for more responsible forms of hospitality, hospitality that benefits locals first, and visitors second. Certainly, all forms of hospitality can be improved and managed so that negative impacts are minimized whilst striving for maximization of positive impacts on the environment.
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In a microeconomic analytical framework, profit maximization by the firm makes the desired level of capital depend on the cost of labour and capital factors. Firms have a choice among several possible productive combinations, and choose the one that minimizes its costs, and thus maximizes its profits. In the short term, when the level of production is constrained by market outlets, it is the relative cost of the factors of production that is taken into account. Thus, if the cost of capital rises in relation to wage costs, it is in the firm's interest to limit investment expenditure by substituting a greater quantity of labour for capital.
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In mathematical optimization, Bland's rule (also known as Bland's algorithm, Bland's anti-cycling rule or Bland's pivot rule) is an algorithmic refinement of the simplex method for linear optimization. With Bland's rule, the simplex algorithm solves feasible linear optimization problems without cycling.. The original simplex algorithm starts with an arbitrary basic feasible solution, and then changes the basis in order to increase the maximization target and find an optimal solution. Usually, the target indeed increases in every step, and thus after a bounded number of steps an optimal solution is found. However, there are examples of degenerate linear programs, on which the original simplex algorithm cycles forever.
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The Bengal Iron Works was founded at Kulti in Bengal in 1870 which began its production in 1874 followed by The Tata Iron and Steel Company (TISCO) was established by Dorabji Tata in 1907, as part of his father's conglomerate. By 1939 it operated the largest steel plant in the British Empire. The company launched a major modernization and expansion program in 1951.Chikayoshi Nomura, "selling steel in the 1920s: TISCO in a period of transition," Indian Economic & Social History Review (2011) 48: 83–116, Prime Minister Jawaharlal Nehru, a believer in socialism, decided that the technological revolution in India needed maximization of steel production.
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Agency costs mainly arise due to contracting costs and the divergence of control, separation of ownership and control and the different objectives (rather than shareholder maximization) the managers. Professor Michael Jensen of the Harvard Business School and the late Professor William Meckling of the Simon School of Business, University of Rochester wrote an influential paper in 1976 titled "Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure". Professor Jensen also wrote an important paper with Eugene Fama of University of Chicago titled "Agency Problems and Residual Claims". There are various actors in the field and various objectives that can incur costly correctional behaviour.
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Research has shown that Bayesian methods that involve a Poisson likelihood function and an appropriate prior probability (e.g., a smoothing prior leading to total variation regularization or a Laplacian distribution leading to \ell_1-based regularization in a wavelet or other domain), such as via Ulf Grenander's Sieve estimator or via Bayes penalty methods or via I.J. Good's roughness method may yield superior performance to expectation-maximization- based methods which involve a Poisson likelihood function but do not involve such a prior. Attenuation correction: Quantitative PET Imaging requires attenuation correction. In these systems attenuation correction is based on a transmission scan using 68Ge rotating rod source.
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Depicting template estimation from multiplie subcortical surfaces in populations of MR images using the EM-algorithm solution of Ma. The study of shape and statistics in populations are local theories, indexing shapes and structures to templates to which they are bijectively mapped. Statistical shape is then the study of diffeomorphic correspondences relative to the template. A core operation is the generation of templates from populations, estimating a shape that is matched to the population. There are several important methods for generating templates including methods based on Frechet averaging, and statistical approaches based on the expectation-maximization algorithm and the Bayes Random orbit models of computational anatomy.
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Instead, almost all current "artificial intelligence" research focuses on creating algorithms that "optimize", in an empirical way, the achievement of an arbitrary goal. To avoid anthropomorphism or the baggage of the word "intelligence", an advanced artificial intelligence can be thought of as an impersonal "optimizing process" that strictly takes whatever actions are judged most likely to accomplish its (possibly complicated and implicit) goals. Another way of conceptualizing an advanced artificial intelligence is to imagine a time machine that sends backward in time information about which choice always leads to the maximization of its goal function; this choice is then outputted, regardless of any extraneous ethical concerns.Waser, Mark.
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New words entered the French language: a factrice for a woman postman; a conductrice for a woman tram driver, and a munitionnette for a woman working in a munitions factory. The first business school for women, the Ècole de Haute Enseignement Commercial, opened on December 2, 1915. While the government stressed efficiency and the maximization of supplies for the army, the working class was largely committed to a traditional sense of consumer rights, whereby it was the duty of the government to provide the basic food, housing and fuel for the city. There was also a sense that hoarding and profiteering were evils that citizens should organize to combat.
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Part II has an interview with John Perkins, author of Confessions of an Economic Hitman, who says he was involved in the subjugation of Latin American economies by multinational corporations and the United States government, including involvement in the overthrow of Latin American heads-of-state. Perkins sees the US as a corporatocracy, in which maximization of profits is the first priority. Part III introduces futurist Jacque Fresco and The Venus Project and asserts a need to move away from current socioeconomic paradigms. Fresco states that capitalism perpetuates the conditions it claims to address, as problems are only solved if there is money to be made.
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Battery Park City has a New York Public Library branch at 175 North End Avenue, designed by 1100 Architect and completed in 2010. A , two-story library on the street level of a high-rise residential building, it utilizes several sustainable design features, earning it LEED Gold certification. The New York Public Library branch Sustainability was a driving factor in the design of the library including use of an energy-efficient lighting system, maximization of natural lighting, and use of recycled materials. 1100 Architect, in collaboration with Atelier Ten, an international team of environmental design consultants and building services engineers, designed the library's energy-efficient lighting system.
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One of its most well- known initiatives was the development of a draft Universal Declaration of Human Responsibilities, which was an attempt to propose a set of responsibilities that were shared by all individuals to counterbalance the United Nations Universal Declaration of Human Rights. This new "global ethic" would provide a foundation of freedom, justice and peace in order for universal rights to be meaningful. These agreed values and standards complement universal rights, as the maximization of personal freedom at the expense of others, without consideration of others, is as problematic as having no rights at all. The current Secretary General is Tom Axworthy (2011-present).
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In 2008, researchers found that value maximization might not be the ultimate goal of Chinese listed companies as a result of the Chinese government being the major shareholder of state-owned enterprises (SOE). Comparing listed companies in different markets, it seems that those with sound corporate governance practices tend to showcase relatively good performance, which was in contrast to the situation in the Chinese market. It was believed that implementation of new reforms would result in higher corporate transparency of Chinese firms. In 2002, the China Securities Regulatory Commission (CSRC) issued a code of corporate governance affecting practices and structures employed by Chinese firms.
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In absorption spectroscopy of cylindrical flames or plumes, the forward Abel transform is the integrated absorbance along a ray with closest distance y from the center of the flame, while the inverse Abel transform gives the local absorption coefficient at a distance r from the center. Abel transform is limited to applications with axially symmetric geometries. For more general asymmetrical cases, more general-oriented reconstruction algorithms such as algebraic reconstruction technique (ART), maximum likelihood expectation maximization (MLEM), filtered back-brojection (FBP) algorithms should be employed. In recent years, the inverse Abel transform (and its variants) has become the cornerstone of data analysis in photofragment-ion imaging and photoelectron imaging.
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Ecotourism has contributed significantly to Costa Rica – as both a country and an economy. However, it is also a prime example of ‘ecotourism gone wrong’. In the initial stages of ecotourism in Costa Rica, all stakeholders benefitted from this type of tourism and attention was being paid to the conservation of nature because of the amount of money that was flowing into the country as a result of it. However, as the amount of profit from ecotourism started to rise, the matters of protection of local environment and nature became secondary issues with all the attention focused on profit maximization. Visitor overcapacity is one of the biggest threats to Costa Rica’s natural environments.
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Standard optimization techniques in computer science — both of which were inspired by, but do not directly reproduce, physical processes — have also been used in an attempt to more efficiently produce quality MSAs. One such technique, genetic algorithms, has been used for MSA production in an attempt to broadly simulate the hypothesized evolutionary process that gave rise to the divergence in the query set. The method works by breaking a series of possible MSAs into fragments and repeatedly rearranging those fragments with the introduction of gaps at varying positions. A general objective function is optimized during the simulation, most generally the "sum of pairs" maximization function introduced in dynamic programming-based MSA methods.
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The pauper labor fallacy is usually used by employee organizations such as labor unions to promote protectionist trade policies restricting imports from abroad. Economic theory, however, states that it does not matter whether a foreign country's advantage in producing goods at low cost is due to high productivity or low wages. Instead, the domestic economy should specialize on the production of the goods for which it has a comparative advantage (and not necessarily an absolute advantage) and trade these efficiently produced goods against the goods for which foreign countries have comparative advantages. This approach is seen as consistent with the maximization of efficiency and theoretically allows countries to realize gains from trade.
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In the literature, an approximation ratio for a maximization (minimization) problem of c - ϵ (min: c + ϵ) means that the algorithm has an approximation ratio of c ∓ ϵ for arbitrary ϵ > 0 but that the ratio has not (or cannot) be shown for ϵ = 0. An example of this is the optimal inapproximability — inexistence of approximation — ratio of 7 / 8 + ϵ for satisfiable MAX-3SAT instances due to Johan Håstad. As mentioned previously, when c = 1, the problem is said to have a polynomial-time approximation scheme. An ϵ-term may appear when an approximation algorithm introduces a multiplicative error and a constant error while the minimum optimum of instances of size n goes to infinity as n does.
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Free Trade Reimagined: The World Division of Labor and the Method of Economics is a 2007 book by philosopher and politician Roberto Mangabeira Unger. In the book, Unger criticizes the doctrine holding that maximization of free trade should be the commanding goal of the worldwide trading regime, contending that this doctrine is misguided. Instead, Unger argues, the goal of an open worldwide trading regime should be reconciled with measures that foster national and regional diversity, deviation, heresy, and experiment in production, markets and economies. Unger further explores how the tradition of marginalism has rendered the discipline of economics incapable of offering deep insight into the problems of trade and of the global division of labor.
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A recent study suggests going further and implementing a system of command displays (text suggestions of how to act) or even patient tracking systems such as with RFID tags. This communication is essential to know when to expect patients to arrive to the holding area prior to entering the OR, or to the recovery room after surgery. Reduction in turnover time (patient exists operating room until next patient enters operating room) requires all individuals in the surgical suite to work together. The day-to- day management of operating room efficiency is integral to the maximization of both qualitative (improved professional satisfaction) and quantitative (completion of more cases and reduced staffing costs) returns.
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A heavily DeepDream-processed photograph of three men in a pool The dreaming idea can be applied to hidden (internal) neurons other than those in the output, which allows exploration of the roles and representations of various parts of the network. It is also possible to optimize the input to satisfy either a single neuron (this usage is sometimes called Activity Maximization) or an entire layer of neurons. While dreaming is most often used for visualizing networks or producing computer art, it has recently been proposed that adding "dreamed" inputs to the training set can improve training times for abstractions in Computer Science. The DeepDream model has also been demonstrated to have application in the field of art history.
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The capabilities approach – sometimes called the human development approach – looks at income inequality and poverty as form of "capability deprivation". Unlike neoliberalism, which "defines well-being as utility maximization", economic growth and income are considered a means to an end rather than the end itself. Its goal is to "wid[en] people's choices and the level of their achieved well-being", UNDP (1990) Human Deuelopment Report, Oxford University Press, New York through increasing functionings (the things a person values doing), capabilities (the freedom to enjoy functionings) and agency (the ability to pursue valued goals). When a person's capabilities are lowered, they are in some way deprived of earning as much income as they would otherwise.
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Precursors in mathematical economics, 1968 Among his better-known contributions are the theory of contestable markets, the Baumol- Tobin model of transactions demand for money, Baumol's cost disease, which discusses the rising costs associated with service industries, Baumol's sales revenue maximization model and Pigou taxes. His research on environmental economics recognized the fundamental role of non-convexities in causing market failures. with Page 73 (and for other contributions of Baumol pages 42, 68, and 155): Non-convexities also appear in Baumol's theory of contestable markets: Pages 179–181: page 88: William Baumol also contributed to the transformation of the field of finance, and published contributions to the areas of efficiency of capital markets, portfolio theory, and capital budgeting.
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In March 2001 Tapio Schneider published his regularized expectation–maximization (RegEM) technique for analysis of incomplete climate data. The original MBH98 and MBH99 papers avoided undue representation of large numbers of tree ring proxies by using a principal component analysis step to summarise these proxy networks, but from 2001 Mann stopped using this method and introduced a multivariate Climate Field Reconstruction (CFR) technique based on the RegEM method which did not require this PCA step. In May 2002 Mann and Scott Rutherford published a paper on testing methods of climate reconstruction which discussed this technique. By adding artificial noise to actual temperature records or to model simulations they produced synthetic datasets which they called "pseudoproxies".
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The way that the borrowing limit is imposed on the consumer utility maximization problem is very important in the economic research, since, it affects the stream of consumption, and thus welfare of the agent. It is well known in the economics that, in general, the risk averse agents are better off when they can smooth the consumption across the time. Under the incomplete asset market assumption, the ability for the agent to smooth the consumption (consumption smoothing) across the time is, in general, limited when the borrowing limit is tighter than the natural borrowing limit. However, consumer can smooth the consumption almost surely under the natural borrowing limit, even under the incomplete market assumption.
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Thus on the basis of the current estimate for the parameters, the conditional probability for a given observation x(t) being generated from state s is determined for each ; N being the sample size. The parameters are then updated such that the new component weights correspond to the average conditional probability and each component mean and covariance is the component specific weighted average of the mean and covariance of the entire sample. Dempster also showed that each successive EM iteration will not decrease the likelihood, a property not shared by other gradient based maximization techniques. Moreover, EM naturally embeds within it constraints on the probability vector, and for sufficiently large sample sizes positive definiteness of the covariance iterates.
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In computer science, a polynomial-time approximation scheme (PTAS) is a type of approximation algorithm for optimization problems (most often, NP-hard optimization problems). A PTAS is an algorithm which takes an instance of an optimization problem and a parameter ε > 0 and, in polynomial time, produces a solution that is within a factor 1 + ε of being optimal (or 1 − ε for maximization problems). For example, for the Euclidean traveling salesman problem, a PTAS would produce a tour with length at most (1 + ε)L, with L being the length of the shortest tour.Sanjeev Arora, Polynomial-time Approximation Schemes for Euclidean TSP and other Geometric Problems, Journal of the ACM 45(5) 753–782, 1998.
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His first investigations were concerned with the problems of chain length maximization in synthesis of some acrylic monomers. In 1966, after graduation from the organic faculty of RChTU, Kovarski was admitted to the Institute of Chemical Physics, headed at that time by the Nobel Prize winner Nikolay Semyonov. He joined the division headed by Professor N.M. Emanuel. There he joined research projects on advanced trends in physical chemistry which were being developed by Professors M.B. Neiman and A.L. Buchachenko. Kovarski was awarded PhD degree in 1972 for the development of spin probe technique applications to polymer research. In 1989 he defended his doctoral dissertation on the topic “Molecular Dynamics and Radical Reactions in Polymers under High Pressures”.
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Traditionally, these two functions, as referenced above, have operated separately, left in siloed areas of tactical responsibility. Glen Petersen's book The Profit Maximization Paradox sees the changes in the competitive landscape between the 1950s and the time of writing as so dramatic that the complexity of choice, price, and opportunities for the customer forced this seemingly simple and integrated relationship between sales and marketing to change forever. Petersen goes on to highlight that salespeople spend approximately 40 percent of their time preparing customer-facing deliverables while leveraging less than 50 percent of the materials created by marketing, adding to perceptions that marketing is out of touch with the customer and that sales is resistant to messaging and strategy.
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With the development of logit and other discrete choice techniques, new, demographically disaggregate approaches to travel demand were attempted. By including variables other than travel time in determining the probability of making a trip, it is expected to have a better prediction of travel behavior. The logit model and gravity model have been shown by Wilson (1967) to be of essentially the same form as used in statistical mechanics, the entropy maximization model. The application of these models differs in concept in that the gravity model uses impedance by travel time, perhaps stratified by socioeconomic variables, in determining the probability of trip making, while a discrete choice approach brings those variables inside the utility or impedance function.
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The Nash Rambler was introduced on April 13, 1950; in the middle of the model year. The new Rambler was available only as an upmarket two-door convertible — designated the "Landau". Without the weight of a roof, and with a low wind resistance body design for the time, the inline 6-cylinder engine could deliver solid performance and deliver fuel economy up to and even more with the optional automatic overdrive. Several factors were incorporated into the compact Nash Rambler's marketing mix that included making the most from the limited steel supplies during the Korean War, as well as the automaker selecting a strategy for profit maximization from the new Rambler line.
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Wieser's most important contributions is that thanks to his familiarity with sociology he combined the Austrian theory of utility with an evolutionary theory of institutions offering solutions to the paradox between private property and the maximization of utility. Wieser said that idealized classical and neoclassical models neglect basic concepts such as the possibility of monopolies and the existence of economies of scale. Wieser claimed that idealized refined and self-contained models may not be useful tools for economic policy, resulting therefore in a suboptimal solution. In his treatise (Theory of Social Economy), he posited the concept of social economy () using the performance of intervention in certain cases as a benchmark to assess policy effectiveness.
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To modern eyes the tercio square seems cumbersome and wasteful of men, many of the soldiers being positioned so that they could not bring their weapons to bear against the enemy. However, in a time when firearms were short-ranged and slow to load, it had its benefits. It offered great protection against cavalry – still the dominant fast-attack arm on the battlefield – and was extremely sturdy and difficult to defeat. It was very hard to isolate or outflank and destroy a tercio by maneuver due to its great depth and distribution of firepower to all sides (as opposed to the maximization of combat power in the frontal arc as adopted by later formations).
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Gaussian-type orbital basis sets are typically optimized to reproduce the lowest possible energy for the systems used to train the basis set. However, the convergence of the energy does not imply convergence of other properties, such as nuclear magnetic shieldings, the dipole moment, or the electron momentum density, which probe different aspects of the electronic wave function. Manninen and Vaara have proposed completeness-optimized basis sets, where the exponents are obtained by maximization of the one-electron completeness profile instead of minimization of the energy. Completeness- optimized basis sets are a way to easily approach the complete basis set limit of any property at any level of theory, and the procedure is simple to automatize.
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Buseoksa in May 2018 Koreans perceive the ability to harmonize building and nature as the essence of architecture, Buseok Temple is located on a steep mountain. Ancient architects sought to arrange buildings in a manner which made the maximization of the adjoining land possible, rather than digging and turning inclined land into a plain, they preferred to create a plain by building stone walls along the slope of the mountain and then arranging the buildings accordingly. There are a grand total of nine stone walls on the temple grounds. Koreans regard these nine sets of stairs linked to the stone walls as representing the nine stairs toward Mandala or the nine staircases which one must traverse in order to reach Nirvana.
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The company also introduced a new slogan, From Pixels to Pulitzers. The video announcement was derided in social and print media as full of buzzwords and lacking substance. On August 7, 2016, while criticising several aspects of a corporate restructuring that went along with the rebranding (for instance a shift of focus away from hard news towards usage maximization, which he perceived as undue), satirist John Oliver mocked this new name as "the sound an ejaculating elephant makes", and (ironically) "the sound of a stack of newspapers hitting a dumpster." The Verge said, "Sounds like a Millennial falling down the stairs." On March 13, 2017, tronc announced that it would license Arc, the content management system of The Washington Post.
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It includes a technical annex with equations for calculating the maximization for happiness in public expenditure, tax policy, regulations, the distribution of happiness and a discount rate. Chapter 5, Neuroscience of Happiness is written by Richard J. Dawson and Brianna S. Schuyler. This chapter reports on research in brain science and happiness, identifying four aspects that account for happiness: (1) sustained positive emotion, (2) recovery of negative emotion (resilience), (3) empathy, altruism and pro-social behavior, and (4) mindfulness (mind- wandering/affective sickness). It concludes that the brain's elasticity indicates that one can change one's sense of happiness and life satisfaction (separate but overlapping positive consequences) levels by experiencing and practicing mindfulness, kindness, and generosity; and calls for more research on these topics.
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A popular modularity maximization approach is the Louvain method, which iteratively optimizes local communities until global modularity can no longer be improved given perturbations to the current community state. An algorithm that utilizes the RenEEL scheme, which is an example of the Extremal Ensemble Learning (EEL) paradigm, is currently the best modularity maximizing algorithm. The usefulness of modularity optimization is questionable, as it has been shown that modularity optimization often fails to detect clusters smaller than some scale, depending on the size of the network (resolution limit ); on the other hand the landscape of modularity values is characterized by a huge degeneracy of partitions with high modularity, close to the absolute maximum, which may be very different from each other.
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The synthesis work, then, eliminated the risk-is-failure- probability of original behavioral portfolio theory and thus yielded infeasible solutions when the required return was greater than the portfolio's expected return. In addressing how investors should allocate wealth across goals, Jean Brunel observed that the declaration of a maximum probability of failure was mathematically synonymous to the declaration of a minimum mental account allocation. Investors, then, could allocate both within and across mental accounts, but some conversation was still required to allocate any remaining excess wealth. To solve the infeasibility problem of the synthesized MPT, as well the problem of allocating "excess wealth," the original probability maximization component of BPT was resurrected and the value-of- goals function was introduced.
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The flooding prompted the United States Congress to pass the Flood Control Act of 1950, authorizing the federal development of additional dams and other flood control mechanisms. By that time local communities had become wary of federal hydroelectric projects, and sought local control of new developments; a public utility district in Grant County, Washington, ultimately began construction of the dam at Priest Rapids. In the 1960s, the United States and Canada signed the Columbia River Treaty, which focused on flood control and the maximization of downstream power generation. Canada agreed to build dams and provide reservoir storage, and the United States agreed to deliver to Canada one-half of the increase in US downstream power benefits as estimated five years in advance.
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In particular, he considers the higher purchasing power of savings (generated from work abroad) at home than abroad as a motive for return migration. Inter alia, the model produces a negative relationship between the optimal duration of migration and the purchasing power differential, and in some (but not all) cases, a negative relationship between the optimal duration of migration and the wage abroad. In addition, and contrary to our prior expectation, the utility maximization analysis suggests that East-West migration will tend to be temporary while inter-European Community (or intra-West European) migration will likely be permanent. In “Behavior in reverse: Reasons for return migration,”Stark, Oded (2019). “Behavior in reverse: Reasons for return migration.” Behavioural Public Policy 3(1): 104-126.
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Keen's work has also focused on refuting the neoclassical theory of the firm, which argues that firms will set marginal revenue equal to marginal cost. Keen notes that empirical research finds real firms set price well above marginal cost: they charge a markup, often cost-plus pricing. Keen's article on "profit maximisation, industry structure, and competition"Steve Keen & Russel Standish (2006):"Profit Maximization, Industry Structure, and Competition: A critique of neoclassical theory" , Physica A 370: 81–85 has had counter-arguments by Paul Anglin.Paul Anglin (2008): On the proper behavior of atoms: A comment on a critique Physica A 387: 277–280 Chris Auld has attempted to show that Keen & Standish's argument is inconsistent with standard assumptions used in perfect competition.
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This data security standard is used by acquiring banks to impose cardholder data security measures upon their merchants. The goal of the credit card companies is not to eliminate fraud, but to "reduce it to manageable levels". This implies that fraud prevention measures will be used only if their cost are lower than the potential gains from fraud reduction, whereas high-cost low-return measures will not be used – as would be expected from organizations whose goal is profit maximization. Internet fraud may be by claiming a chargeback which is not justified ("friendly fraud"), or carried out by the use of credit card information which can be stolen in many ways, the simplest being copying information from retailers, either online or offline.
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Channel capacity is the tightest upper bound on the rate of information that can be reliably transmitted over a communications channel. By the noisy-channel coding theorem, the channel capacity of a given channel is the limiting information rate (in units of information per unit time) that can be achieved with arbitrarily small error probability. Information theory, developed by Claude E. Shannon during World War II, defines the notion of channel capacity and provides a mathematical model by which one can compute it. The key result states that the capacity of the channel, as defined above, is given by the maximum of the mutual information between the input and output of the channel, where the maximization is with respect to the input distribution.
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This representation is memory-intensive because the features in the square matrix are symmetrical (and thus redundant) about the main diagonal. When two proteins' distance matrices share the same or similar features in approximately the same positions, they can be said to have similar folds with similar-length loops connecting their secondary structure elements. DALI's actual alignment process requires a similarity search after the two proteins' distance matrices are built; this is normally conducted via a series of overlapping submatrices of size 6x6. Submatrix matches are then reassembled into a final alignment via a standard score-maximization algorithm — the original version of DALI used a Monte Carlo simulation to maximize a structural similarity score that is a function of the distances between putative corresponding atoms.
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He argues that it is most prudent to give up straightforward maximizing and instead adopt a disposition of constrained maximization, according to which one resolves to cooperate with all similarly disposed persons (those disposed towards cooperation) and defect on the rest (straightforward maximizers), since repeated cooperation provides greater yields than repeated mutual defection from contracts (as is seen in a basic Prisoner's dilemma game). According to Gauthier's contractarian ethics,Peter Byrne, The Philosophical and Theological Foundations of Ethics, Springer, 2016, p. 98 moral constraints are justified because they make us all better off, in terms of our preferences (whatever they may be). A consequence is that good moral thinking is just an elevated and subtly strategic version of means–end reasoning.
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Pontryagin's maximum principle is used in optimal control theory to find the best possible control for taking a dynamical system from one state to another, especially in the presence of constraints for the state or input controls. It states that it is necessary for any optimal control along with the optimal state trajectory to solve the so-called Hamiltonian system, which is a two- point boundary value problem, plus a maximum condition of the Hamiltonian. These necessary conditions become sufficient under certain convexity conditions on the objective and constraint functions. The maximum principle was formulated in 1956 by the Russian mathematician Lev Pontryagin and his students, Reprinted in and its initial application was to the maximization of the terminal speed of a rocket.
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It provides a mathematical foundation of industrial organization, discussed above, to model different types of firm behaviour, for example in a solipsistic industry (few sellers), but equally applicable to wage negotiations, bargaining, contract design, and any situation where individual agents are few enough to have perceptible effects on each other. In behavioural economics, it has been used to model the strategies agents choose when interacting with others whose interests are at least partially adverse to their own.• • In this, it generalizes maximization approaches developed to analyse market actors such as in the supply and demand model and allows for incomplete information of actors. The field dates from the 1944 classic Theory of Games and Economic Behavior by John von Neumann and Oskar Morgenstern.
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9339-41 (Feb. 3, 2017); Donald J. Trump, Exec. Order No. 13,777, Enforcing the Regulatory Reform Agenda (Feb. 24, 2017), 82 Fed. Reg. 12285-97 (Mar. 1, 2017) Among the significant narrowing provisions are a more parsimonious description of the stated purposes of regulation. Whereas Executive Order 12,866 contained a long list of regulatory principles, in which the maximization of net social benefits is one of many, Executive Order 13,771 directs agencies “to be prudent and financially responsible in the expenditure of funds, from both public and private sources” and “manage the costs associated with the governmental imposition of private expenditures required to comply with Federal regulations.” Executive Order 13,771 expands upon Executive Order 12,866 in both substantive and procedural ways.
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Profits can be increased by up to 1000 percent, this is important for sole traders and small businesses let alone big businesses but none the less all profit maximization is a matter of each business stage and greater returns for profit sharing thus higher wages and motivation. entrepreneur.com Marginal cost and marginal revenue, depending on whether the calculus approach is taken or not, are defined as either the change in cost or revenue as each additional unit is produced, or the derivative of cost or revenue with respect to the quantity of output. For instance, taking the first definition, if it costs a firm $400 to produce 5 units and $480 to produce 6, the marginal cost of the sixth unit is 80 dollars.
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Generative topographic map (GTM) is a machine learning method that is a probabilistic counterpart of the self-organizing map (SOM), is probably convergent and does not require a shrinking neighborhood or a decreasing step size. It is a generative model: the data is assumed to arise by first probabilistically picking a point in a low-dimensional space, mapping the point to the observed high-dimensional input space (via a smooth function), then adding noise in that space. The parameters of the low-dimensional probability distribution, the smooth map and the noise are all learned from the training data using the expectation-maximization (EM) algorithm. GTM was introduced in 1996 in a paper by Christopher Bishop, Markus Svensen, and Christopher K. I. Williams.
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The digestive rate model (DRM) (of foraging) is related to optimal foraging theory in that the model describes the diet selection that animals should perform in order to maximize the energy (or nutrients) available to them. It differs from the main body of Optimal Foraging Theory in stating that animals can select food in order to make optimal use of their digestive tract (maximize digestion rate) rather than the maximization of the food ingestion rate, which is the base of Optimal foraging theory. The basic tenet of the DRM is that the intake of energy by an animal passes through two consecutive processes, food ingestion or foraging, and food digestion. Optimal foraging theory describes the diet selection if the food ingestion rate is the limiting factor.
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James McGill Buchanan Jr. (; October 3, 1919 – January 9, 2013) was an American economist known for his work on public choice theory (included in his most famous work, co-authored with Gordon Tullock, The Calculus of Consent, 1962), for which he received the Nobel Memorial Prize in Economic Sciences in 1986. Buchanan's work initiated research on how politicians' and bureaucrats' self-interest, utility maximization, and other non-wealth-maximizing considerations affect their decision-making. He was a member of the Board of Advisors of The Independent Institute as well as of the Institute of Economic Affairs, a member (and for a time president) of the Mont Pelerin Society, a Distinguished Senior Fellow of the Cato Institute, and professor at George Mason University.
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Modern x86 CPUs contain SIMD instructions, which largely perform the same operation in parallel on many values encoded in a wide SIMD register. Various instruction technologies support different operations on different register sets, but taken as complete whole (from MMX to SSE4.2) they include general computations on integer or floating point arithmetic (addition, subtraction, multiplication, shift, minimization, maximization, comparison, division or square root). So for example, `paddw mm0, mm1` performs 4 parallel 16-bit (indicated by the `w`) integer adds (indicated by the `padd`) of `mm0` values to `mm1` and stores the result in `mm0`. Streaming SIMD Extensions or SSE also includes a floating point mode in which only the very first value of the registers is actually modified (expanded in SSE2).
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Peasant economics is an area of economics in which a wide variety of economic approaches ranging from the neoclassical to the marxist are used to examine the political economy of the peasantry. The defining feature of the peasants are that they are typically seen to be only partly integrated into the market economy - an economy which, in societies with a significant peasant population, is typically found to have many imperfect, incomplete or missing markets. Peasant economics treats peasants as something different from other farmers as they are not assumed to be simply small profit maximizing farmers; by contrast, peasant economics covers a wide range of different theories of peasant household behavior. These include various assumptions about the maximization of profits, risk aversion, drudgery aversion, and sharecropping.
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In mathematical optimization, the Karush–Kuhn–Tucker (KKT) conditions, also known as the Kuhn–Tucker conditions, are first derivative tests (sometimes called first-order necessary conditions) for a solution in nonlinear programming to be optimal, provided that some regularity conditions are satisfied. Allowing inequality constraints, the KKT approach to nonlinear programming generalizes the method of Lagrange multipliers, which allows only equality constraints. Similar to the Lagrange approach, the constrained maximization (minimization) problem is rewritten as a Lagrange function whose optimal point is a saddle point, i.e. a global maximum (minimum) over the domain of the choice variables and a global minimum (maximum) over the multipliers, which is why the Karush–Kuhn–Tucker theorem is sometimes referred to as the saddle-point theorem.
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In the course of his tenure the region witnessed markedly sustained improvement in schoolchildren's health and hygiene, public health (stemming of major disease epidemics and better sanitary conditions), and seamless integration of interdisciplinary and interagency resourcing. A tenure accredited with a maximization of key quality metrics and improvement in performance outcomes. He promoted and nurtured coordinated approaches, amongst healthcare practitioners and related bodies, to facilitate the most effective seamlessly integrated dispensary and operations of public health and other civic and societal welfare services. As of 1950 until his abrupt and inexplicable death in 1966, he is credited with stemming the tide of numerous endemic and pandemic diseases in the East and Central African regions and the Sudan; and a forfending of entire indigenous populations from imminent extinction.
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Rosenfeld received her B.A. from Princeton University, and Ph.D. from Harvard University in 1996. Before coming to the University of Pennsylvania Rosenfeld taught at the University of Virginia and Yale University. In 2014–15, Rosenfeld was a Member at the Institute for Advanced Study, where she researched how the maximization of choice gradually developed across the Atlantic world into a proxy for freedom in human rights struggles and consumer culture. Her book Democracy and Truth was praised in the New Yorker's "Briefly Noted" book reviews: “Rosenfeld’s conclusion is sobering: even if the relationship between democracy and truth has long been vexed, the crisis facing Western democracies today is distinctly new.” In 2017, she was appointed the Walter H. Annenberg Professor of History.
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In particular, whereas Monte Carlo techniques provide a numerical approximation to the exact posterior using a set of samples, Variational Bayes provides a locally-optimal, exact analytical solution to an approximation of the posterior. Variational Bayes can be seen as an extension of the EM (expectation-maximization) algorithm from maximum a posteriori estimation (MAP estimation) of the single most probable value of each parameter to fully Bayesian estimation which computes (an approximation to) the entire posterior distribution of the parameters and latent variables. As in EM, it finds a set of optimal parameter values, and it has the same alternating structure as does EM, based on a set of interlocked (mutually dependent) equations that cannot be solved analytically. For many applications, variational Bayes produces solutions of comparable accuracy to Gibbs sampling at greater speed.
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In economics, many problems involve multiple objectives along with constraints on what combinations of those objectives are attainable. For example, consumer's demand for various goods is determined by the process of maximization of the utilities derived from those goods, subject to a constraint based on how much income is available to spend on those goods and on the prices of those goods. This constraint allows more of one good to be purchased only at the sacrifice of consuming less of another good; therefore, the various objectives (more consumption of each good is preferred) are in conflict with each other. A common method for analyzing such a problem is to use a graph of indifference curves, representing preferences, and a budget constraint, representing the trade-offs that the consumer is faced with.
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Stark considers a community of migrants whose members are at an equilibrium level of assimilation that was chosen as a result of the maximization of a utility function that has as its arguments income, the cost of assimilation effort, and a measure of relative deprivation. He asks how vulnerable this assimilation equilibrium is to the appearance of a “mutant” - a member of the community who is exogenously endowed with a superior capacity to assimilate. If the mutant were to act on his enhanced ability, his earnings would be higher than those of his fellow migrants, which will expose them to greater relative deprivation. Stark finds that the stability of the pre- mutation assimilation equilibrium depends on the cohesion of the migrants’ community, expressed as an ability to effectively sanction and discourage the mutant from deviating.
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Allocative efficiency is a state of the economy in which production represents consumer preferences; in particular, every good or service is produced up to the point where the last unit provides a marginal benefit to consumers equal to the marginal cost of producing. In contract theory, allocative efficiency is achieved in a contract in which the skill demanded by the offering party and the skill of the agreeing party are the same. Although there are different standards of evaluation for the concept of allocative efficiency, the basic principle asserts that in any economic system, choices in resource allocation produce both "winners" and "losers" relative to the choice being evaluated. The principles of rational choice, individual maximization, utilitarianism and market theory further suppose that the outcomes for winners and losers can be identified, compared and measured.
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The Washington Post reported in February 2016 that the Clinton campaign had received much of the fund's benefits despite its intended use in state party elections. The newspaper added that the early organization of the fund was a demonstration of the campaign's maximization of big donor support. As the Clinton campaign fought off fellow primary candidate Bernie Sanders, the fund recruited new, small donors—a strategy that campaign finance attorneys described to The Washington Post as "unusual," since joint fundraising committees normally focused on large donors and posh events. A former general counsel of the Federal Election Commission said that the joint fundraising committee structure was never intended to support a single candidate, and the fund appeared to turn "the traditional notion of a joint committee into a Hillary fundraising committee".
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When the model is only nonlinear in fixed effects and the random effects are Gaussian, maximum-likelihood estimation can be done using nonlinear least squares methods, although asymptotic properties of estimators and test statistics may differ from the conventional general linear model. In the more general setting, there exist several methods for doing maximum- likelihood estimation or maximum a posteriori estimation in certain classes of nonlinear mixed-effects models – typically under the assumption of normally distributed random variables. A popular approach is the Lindstrom-Bates algorithm which relies on iteratively optimizing a nonlinear problem, locally linearizing the model around this optimum and then employing conventional methods from linear mixed-effects models to do maximum likelihood estimation. Stochastic approximation of the expectation-maximization algorithm gives an alternative approach for doing maximum-likelihood estimation.
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Marginal profit at a particular output level (output being measured along the horizontal axis) is the vertical difference between marginal revenue (green) and marginal cost (blue). In microeconomics, marginal profit is the increment to profit resulting from a unit or infinitessimal increment to the quantity of a product produced. Under the marginal approach to profit maximization, to maximize profits, a firm should continue to produce a good or service up to the point where marginal profit is zero. At any lesser quantity of output, marginal profit is positive and so profit can be increased by producing a greater amount; likewise, at any quantity of output greater than the one at which marginal profit equals zero, marginal profit is negative and so profit could be made higher by producing less.
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Meat-type rabbits were raised for supplementary food in the 350px Science played another role in rabbit raising, this time with rabbits themselves as the tools used for scientific advancement. Beginning with Louis Pasteur's experiments in rabies in the later half of the nineteenth century, rabbits have been used as models to investigate various medical and biological problems, including the transmission of disease and protective antiserums. Production of quality animals for meat sale and scientific experimentation has driven a number of advancements in rabbit husbandry and nutrition. While early rabbit keepers were limited to local and seasonal foodstuffs, which did not permit the maximization of production, health or growth, by 1930 researchers were conducting experiments in rabbit nutrition, similar to the experiments that had isolated vitamins and other nutritional components.
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Choice modelling attempts to model the decision process of an individual or segment via revealed preferences or stated preferences made in a particular context or contexts. Typically, it attempts to use discrete choices (A over B; B over A, B & C) in order to infer positions of the items (A, B and C) on some relevant latent scale (typically "utility" in economics and various related fields). Indeed many alternative models exist in econometrics, marketing, sociometrics and other fields, including utility maximization, optimization applied to consumer theory, and a plethora of other identification strategies which may be more or less accurate depending on the data, sample, hypothesis and the particular decision being modelled. In addition, choice modelling is regarded as the most suitable method for estimating consumers' willingness to pay for quality improvements in multiple dimensions.
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The activity selection problem is a combinatorial optimization problem concerning the selection of non-conflicting activities to perform within a given time frame, given a set of activities each marked by a start time (si) and finish time (fi). The problem is to select the maximum number of activities that can be performed by a single person or machine, assuming that a person can only work on a single activity at a time. The activity selection problem is also known as the Interval scheduling maximization problem (ISMP), which is a special type of the more general Interval Scheduling problem. A classic application of this problem is in scheduling a room for multiple competing events, each having its own time requirements (start and end time), and many more arise within the framework of operations research.
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Given the profit maximization assumption, employment of labor within the industrial sector is given by the point where marginal product is equal to the rate of wages, i.e. OM. 450px Since the wages in the capitalist sector depend on the earnings of the subsistence sector, capitalists would like to keep down productivity/wages in the subsistence sector, so that the capitalist sector may expand at a fixed wage. In the capitalist sector labor is employed up to the point where its marginal product equals wage, since a capitalist employer would be reducing his surplus if he paid labor more than he received for what is produced. But this need not be true in subsistence agriculture as wages could be equal to average product or the level of subsistence.
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The slow "standard algorithm" for k-means clustering, and its associated expectation- maximization algorithm, is a special case of a Gaussian mixture model, specifically, the limiting case when fixing all covariances to be diagonal, equal and have infinitesimal small variance. Instead of small variances, a hard cluster assignment can also be used to show another equivalence of k-means clustering to a special case of "hard" Gaussian mixture modelling. This does not mean that it is efficient to use Gaussian mixture modelling to compute k-means, but just that there is a theoretical relationship, and that Gaussian mixture modelling can be interpreted as a generalization of k-means; on the contrary, it has been suggested to use k-means clustering to find starting points for Gaussian mixture modelling on difficult data.
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Social identities are cognitively represented as group prototypes that describe and prescribe beliefs, attitudes, feelings and behaviors that optimize a balance between minimization of in-group differences and maximization of intergroup differences. More specifically, according to social identity theory, there is a continuum between personal and social identity shifts along this continuum that determine the extent to which group- related or personal characteristics influence a person's feelings and actions. If a particular social identity is a salient basis for self-conception, then the self is assimilated to the perceived in-group prototype which can be thought of as a set of perceived in-group norms such that self-perception, beliefs, attitudes, feelings and behaviors are defined in terms of the group prototype. Thus, social identities should influence behavior through the mediating role of group norms.
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Determining the number of clusters in a data set, a quantity often labelled k as in the k-means algorithm, is a frequent problem in data clustering, and is a distinct issue from the process of actually solving the clustering problem. For a certain class of clustering algorithms (in particular k-means, k-medoids and expectation–maximization algorithm), there is a parameter commonly referred to as k that specifies the number of clusters to detect. Other algorithms such as DBSCAN and OPTICS algorithm do not require the specification of this parameter; hierarchical clustering avoids the problem altogether. The correct choice of k is often ambiguous, with interpretations depending on the shape and scale of the distribution of points in a data set and the desired clustering resolution of the user.
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Hence anything that interfered with the 'natural' relationship of conduct and consequence was to be resisted and this included the use of the coercive power of the state to relieve poverty, to provide public education, or to require compulsory vaccination. Although charitable giving was to be encouraged even it had to be limited by the consideration that suffering was frequently the result of individuals receiving the consequences of their actions. Hence too much individual benevolence directed to the 'undeserving poor' would break the link between conduct and consequence that Spencer considered fundamental to ensuring that humanity continued to evolve to a higher level of development. Spencer adopted a utilitarian standard of ultimate value – the greatest happiness of the greatest number – and the culmination of the evolutionary process would be the maximization of utility.
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The practice of giving and taking reasons is understood as aiming at both interpersonal and intrapersonal structural coherence. In this way, the account of structural rationality avoids the dichotomy of reasons – moral versus extra-moral – and allows us to make use of the conceptual frame of decision and game theory in order to clarify some essential aspects of practical coherence. For example, the postulates of the von Neumann/Morgenstern utility theorem are now interpreted as rules of practical coherence and not as axioms of consequentialist optimization. The utility function becomes a mere representation of coherent preferences and expected utility maximization can no longer be interpreted as optimizing the consequences of one's actions. The term “utility” is misleading and should be replaced by “subjective valuation.” The deontological character of structural rationality is compatible with using the conceptual framework of decision theory.
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Mathematically, the markup rule can be derived for a firm with price-setting power by maximizing the following expression for profit: : \pi = P(Q)\cdot Q - C(Q) :where :Q = quantity sold, :P(Q) = inverse demand function, and thereby the price at which Q can be sold given the existing demand :C(Q) = total cost of producing Q. : \pi = economic profit Profit maximization means that the derivative of \pi with respect to Q is set equal to 0: :P'(Q)\cdot Q+P-C'(Q)=0 : where :P'(Q) = the derivative of the inverse demand function. :C'(Q) = marginal cost–the derivative of total cost with respect to output. This yields: :P'(Q)\cdot Q + P = C'(Q) or "marginal revenue" = "marginal cost". A firm with market power will set a price and production quantity such that marginal cost equals marginal revenue.
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Rustenburg has been highly dependent on mining which is responsible for more than 65% of local GDP and 50% of all direct jobs. The secondary GDP contributors are, by a considerable margin, finance (9%) and retail (8%). Since Platinum mining is projected to decline after 2040, the Rustenburg Local Municipality formulated the Rustenburg Vision 2040 in 2014, with the goal of becoming a world-class green, efficient, sustainable and intricately interconnected Smart City where all communities enjoy a high quality of life. This includes the redevelopment and rejuvenation of existing CBD areas to new world-class commercial centres with a conspicuous signature skyline incorporating a plethora of high-rise landmark buildings and skyscrapers as part of the smart space planning and smart maximization of land usage that sustainably creates breathing room for people to move, live, work and play.
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Today, no state openly or officially refers to its juvenile correctional institutions as "reform schools", although such institutions still exist. The attempt has also been made to reduce the population of such institutions to the maximum extent possible, and to leave all but the most incorrigible youths in a home setting. Also, in an attempt to make the situation more socially normal, and in response to the rising number of young female offenders, many such institutions have been made coeducational. The current approach involves minimizing the use of custodial institutions and the maximization of the use of less-restrictive settings which allow the youths to remain in their own homes, usually while attending during the daytime an institution called an alternative school or something similar, which is usually a more-structured version of a public school.
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The employer faces an upward-sloping labour supply curve (as generally contrasted with an infinitely elastic labour supply curve), represented by the S blue curve in the diagram on the right. This curve relates the wage paid, w, to the level of employment, L, and is denoted as an increasing function w(L). Total labour costs are given by w(L)\cdot L. The firm has total revenue R, which increases with L. The firm wants to choose L to maximize profit, P, which is given by: :P(L)=R(L)-w(L)\cdot L\,\\!. At the maximum profit P'(L) = 0, so the first- order condition for maximization is :0=R'(L) - w'(L)\cdot L-w(L) where w'(L) is the derivative of the function w(L), implying :R'(L)=w'(L)\cdot L+w(L).
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The oval-like epitrochoid-shaped housing surrounds a triangular rotor with bow-shaped faces similar in appearance to a Reuleaux triangle. The theoretical shape of the rotor between the fixed apexes is the result of a minimization of the volume of the geometric combustion chamber and a maximization of the compression ratio, respectively.For a detailed calculation of the curvature of a circular arc approximating the optimal Wankel rotor shape, see The symmetric curve connecting two arbitrary apices of the rotor is maximized in the direction of the inner housing shape with the constraint that it not touch the housing at any angle of rotation (an arc is not a solution of this optimization problem). The central drive shaft, called the "eccentric shaft" or "E-shaft", passes through the center of the rotor being supported by fixed bearings.
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Only as private rights are phased out can rights of decentralized decision making and market exchange be extended to workers. This needs to be accompanied by limits on the size of enterprise and how profits are used to control others' labor. Neoclassical economics is not up to this task because it begins with preconceived standards that it applies to explain empirical data, while leaving out that which is a theoretical anomaly; there is no causal basis of analysis, Unger says, rather everything is embedded in a timeless universal without any account for context. Furthermore, the ambiguity of concepts of maximization, efficiency, and rationalization pin the analysis to a certain notion of the behavior of the rationalizing individual, making the analysis either tautological or reduced to a set of power relations translated into the language of material exchange.
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Suppose that all relevant random variables are in the same location-scale family, meaning that the distribution of every random variable is the same as the distribution of some linear transformation of any other random variable. Then for any von Neumann–Morgenstern utility function, using a mean-variance decision framework is consistent with expected utility maximization, as illustrated in example 1: Example 1: Let there be one risky asset with random return r, and one riskfree asset with known return r_f, and let an investor's initial wealth be w_0. If the amount q, the choice variable, is to be invested in the risky asset and the amount w_0-q is to be invested in the safe asset, then, contingent on q, the investor's random final wealth will be w=(w_0-q)r_f+qr. Then for any choice of q, w is distributed as a location- scale transformation of r.
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In recent years, the thermodynamic interpretation of evolution in relation to entropy has begun to utilize the concept of the Gibbs free energy, rather than entropy.Higgs, P. G., & Pudritz, R. E. (2009). "A thermodynamic basis for prebiotic amino acid synthesis and the nature of the first genetic code" Accepted for publication in Astrobiology This is because biological processes on Earth take place at roughly constant temperature and pressure, a situation in which the Gibbs free energy is an especially useful way to express the second law of thermodynamics. The Gibbs free energy is given by: :: \Delta G \equiv \Delta H-T \, \Delta S where :: G = Gibbs free energy :: H = enthalpy passed into a thermodynamic system :: T = absolute temperature :: S = entropy The minimization of the Gibbs free energy is a form of the principle of minimum energy, which follows from the entropy maximization principle for closed systems.
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Bureau-shaping is a rational choice model of bureaucracy and a response to the budget-maximization model. It argues that rational officials will not want to maximize their budgets, but instead to shape their agency so as to maximize their personal utilities from their work. For instance, bureaucrats would prefer to work in small, elite agencies close to political power centres and doing interesting work, rather than to run large-budget agencies with many staff but also many risks and problems. For the same reasons, and to avoid risks, the bureau-shaping model also predicts that senior government bureaucrats will often favour either 'agencification' to other public sector bodies by having policy determination and advice separated from the implementation of the legislated practices of government (as in the UK 'Next Steps' programme, Australian Department - Agency system) or off-loading functions to contractors and privatization.
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Such algorithms compute estimates of the likely distribution of annihilation events that led to the measured data, based on statistical principle, often providing better noise profiles and resistance to the streak artifacts common with FBP. Since the density of radioactive tracer is a function in a function space, therefore of extremely high-dimensions, methods which regularize the maximum-likelihood solution turning it towards penalized or maximum a-posteriori methods can have significant advantages for low counts. Examples such as Ulf Grenander's Sieve estimator or Bayes penalty methods, or via I.J. Good's roughness method may yield superior performance to expectation-maximization-based methods which involve a Poisson likelihood function only. As another example, it is considered superior when one does not have a large set of projections available, when the projections are not distributed uniformly in angle, or when the projections are sparse or missing at certain orientations.
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Whatever the case, if a device is unable to process a frame at a given time, it simply does not confirm its reception: timeout-based retransmission can be performed a number of times, following after that a decision of whether to abort or keep trying. Because the predicted environment of these devices demands maximization of battery life, the protocols tend to favor the methods which lead to it, implementing periodic checks for pending messages, the frequency of which depends on application needs. Regarding secure communications, the MAC sublayer offers facilities which can be harnessed by upper layers to achieve the desired level of security. Higher-layer processes may specify keys to perform symmetric cryptography to protect the payload and restrict it to a group of devices or just a point-to-point link; these groups of devices can be specified in access control lists.
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Sieve estimators have been used extensively for estimating density functions in high-dimensional spaces such as in Positron emission tomography(PET). The first exploitation of Sieves in PET for solving the maximum-likelihood Positron emission tomography#Image reconstruction problem was by Donald Snyder and Michael Miller, where they stabilized the time-of-flight PET problem originally solved by Shepp and Vardi. Shepp and Vardi's introduction of Maximum-likelihood estimators in emission tomography exploited the use of the Expectation-Maximization algorithm, which as it ascended towards the maximum-likelihood estimator developed a series of artifacts associated to the fact that the underlying emission density was of too high a dimension for any fixed sample size of Poisson measured counts. Grenander's method of sieves was used to stabilize the estimator, so that for any fixed sample size a resolution could be set which was consistent for the number of counts.
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He is interested in the inference of latent variable modelsO Cappé, E Moulines, « On‐line expectation–maximization algorithm for latent data models », Journal of the Royal Statistical Society: Series B (Statistical Methodology), 2009, pp. 593–613 and in particular hidden Markov chains,R Douc, E Moulines, T Rydén, « Asymptotic properties of the maximum likelihood estimator in autoregressive models with Markov regime », The Annals of statistics, 2004, pp. 2254–2304O. Cappé, E. Moulines, T. Ryden, « Inference in Hidden Markov Models », Springer Series in Statistics, 2006 and non-linear state models (non-linear filtering)R Douc, A Garivier, E Moulines, J Olsson, « Sequential Monte Carlo smoothing for general state space hidden Markov models », The Annals of Applied Probability, 2011, pp. 2109–2145R Douc, E Moulines, D Stoffer, « Nonlinear time series: Theory, methods and applications with R examples », Chapman and Hall/CRC, 2014 In particular, it contributes to filtering methods using interacting particle systems.
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Theory, 142, 100-127 (2008) To round out this summary of Cass's work, despite the very strong evolution of his ideas from his initial work on optimal growth, to the work on sunspots and finally on market incompleteness, Cass continued to be interested in his older interests when he saw opportunities for contributions. Thus, his 1979 paper with Mukul Majumdar, "Efficient intertemporal allocation, consumption-value maximization and capital-value transversality: A unified view" and his 1991 paper with Tappan Mitra, "Indefinitely sustained consumption despite exhaustible natural resources" hearken back to his earlier work on capital theory. Similarly, his 1996 paper with Chichilnisky and Wu, "Individual risk and mutual insurance: A reformulation" (Econometrica 64, 333-341) and his 2004 paper with his student Anna Pavlova, "On trees and logs" (J Econ Theory 116, 41-83) hearkens back to his original work on asset pricing models with Joe Stiglitz.
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Individual footprints and the collectiveness of social groups carry culture and symbolic materiality that can strongly complement a dynamic urban environment. Urban projects then need to be elastic and open to constant transformations, innovative ways to create inclusive areas and represent the local features that empower social relations and spatial experience. Beautifying and modernizing the city should not come at the expense of losing its national and local “touch” to fit global conventions, but push against social demand and constrictions in a way that sustainable and efficient projects are motivated and a homogeneous society can coexist. Architectural projects and landscaping need to push for the maximization of spaces, opportunities and economic investments in a strict frame of ethics that allows all members of the population an access to dignified qualities of life with healthy environments with ample opportunities for cultural, artistic, educational and professional recreation.
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For example, a tiger, seeing a tapir in the Sumatran jungle can internally weigh various possible paths toward capturing the tapir given criteria such as path and effort minimization and stealth maximization. But no tiger thinks to itself ‘next year I want to become a different kind of tiger, one that eats fewer tapirs and more pangolins.’ A human, in contrast, can envision future possible selves, weigh their merits, and then choose to become a desired self, and with effort realize such a self. For example, a person may desire to learn a foreign language, envision learning numerous possible foreign languages, deliberate among them, weighing various pros and cons, and then select, say, ‘Swahili.’ After a year of hard work, a person can have transformed their nervous system into a new type of nervous system and mind, namely, one that can now process Swahili inputs and produce Swahili outputs.
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Large crowds of interests, constitute in associations and foundations, such as Tenstar Community, Omid Foundation Omid Foundation and many other progressing third sector institutions, as new creative class are forming their economic contents and values as the third sector economy, out of the general logo-centric illiteracy of previous century economy. Hence, the learning of the alphabet, the language and the paradigms of the 21st century actions become an ineluctable imperative. This fact is mainly applicable to the economical structures proposed by Post-contemporary vision, which its prosperity and richness creates in an added value out from the profit maximization of speculative economy based on old capitalism of industrial productivity. Post-contemporary assets are recourses from dynamic social economy, pro-profit-no-dividend which its plus value is subject to immediate reinvestment in problem solving, in economy of culture, in creative economy and creative education as the New Third sector operations.
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The chapter lists the benefits of treating children's mental health: improved educational performance, reduction in youth crimes, improved earnings and employment in adulthood, and better parenting of the next generation. Chapter 7, Human Values, Civil Economy and Subjective Well-being is written by Leonardo Bechhetti, Luigino Bruni and Stefano Zamagni. This chapter begins with a critique of the field of economics ("Economics today looks like physics before the discovery of electrons"), identifying reductionism in which humans are conceived of as 100% self-interested individuals (economic reductionism), profit maximization is prioritized over all other interests (corporate reductionism), and societal values are narrowly identified with GDP and ignore environmental, cultural, spiritual and relational aspects (value reductionism). The chapter them focuses on a theoretical approach termed "Civil Economy paradigm", and research about it demonstrating that going beyond reductionism leads to greater socialization for people and communities, and a rise in priority of the values of reciprocity, friendship, trustworthiness, and benevolence.
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Smith in his The Wealth of Nations commented, "All for ourselves, and nothing for other people, seems, in every age of the world, to have been the vile maxim of the masters of mankind." However, a section of economists influenced by the ideology of neoliberalism, interpreted the objective of economics to be maximization of economic growth through accelerated consumption and production of goods and services. Neoliberal ideology promoted finance from its position as a component of economics to its core. Proponents of the ideology hold that unrestricted financial flows, if redeemed from the shackles of "financial repressions", best help impoverished nations to grow. The theory holds that open financial systems accelerate economic growth by encouraging foreign capital inflows, thereby enabling higher levels of savings, investment, employment, productivity and "welfare",welfare in terms of preference satisfaction Hayek F.A. 1976 Law, Legislation and Liberty: Volume 2 London: Routledge and Kegan Paul, pp. 15–30.
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He designed several light aircraft and completed a single-seat gyroplane during his time in Poland. He emigrated to Canada in 1981 and began working for hang glider and ultralight aircraft manufacturer Birdman Enterprises, of Edmonton, Alberta shortly after his arrival, filling the position of Chief Engineer and Designer. Talanczuk's first project at Birdman was the design of a new ultralight aircraft to replace the Birdman Atlas in production. The company's stated design goals for the aircraft were: good flying characteristics, simplicity of construction and maximization of aesthetics.Jones, Terry: Birdman WT-11 Chinook - Design Philosophy - A Third- Generation Ultralight. Birdman Enterprises, 1984. Designer Talanczuk stated his own additional project intentions: Talanczuk chose an airfoil that was created by Dr Dave Marsden at the University of Alberta, the UA 80/1. The aircraft was his eleventh design and was designated the WT-11 Chinook, although in 1987 the company redesignated it 1S (for 1 seat) to conform to their own nomenclature.
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Given a way to train a naïve Bayes classifier from labeled data, it's possible to construct a semi-supervised training algorithm that can learn from a combination of labeled and unlabeled data by running the supervised learning algorithm in a loop: :Given a collection D = L \uplus U of labeled samples and unlabeled samples , start by training a naïve Bayes classifier on . :Until convergence, do: ::Predict class probabilities P(C \mid x) for all examples in D. ::Re-train the model based on the probabilities (not the labels) predicted in the previous step. Convergence is determined based on improvement to the model likelihood P(D \mid \theta), where \theta denotes the parameters of the naïve Bayes model. This training algorithm is an instance of the more general expectation–maximization algorithm (EM): the prediction step inside the loop is the E-step of EM, while the re-training of naïve Bayes is the M-step.
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In statistics, the score test assesses constraints on statistical parameters based on the gradient of the likelihood function—known as the score—evaluated at the hypothesized parameter value under the null hypothesis. Intuitively, if the restricted estimator is near the maximum of the likelihood function, the score should not differ from zero by more than sampling error. While the finite sample distributions of score tests are generally unknown, it has an asymptotic χ2-distribution under the null hypothesis as first proved by C. R. Rao in 1948, a fact that can be used to determine statistical significance. Since function maximization subject to equality constraints is most conveniently done using a Lagrangean expression of the problem, the score test can be equivalently understood as a test of the magnitude of the Lagrange multipliers associated with the constraints where, again, if the constraints are non-binding at the maximum likelihood, the vector of Lagrange multipliers should not differ from zero by more than sampling error.
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Glassman et al. notes that criticisms of priority-setting include "the weak data on which estimates of burden, cost, and effectiveness relied; the value judgments implicit in disability-adjusted life year age weighting and discounting decisions; and treatment of equity issues, as well as the political difficulties associated with translating a ground zero package into a public budget based on historical inputs"; and the consideration of only health maximization at the expense of other objectives such as fairness. Glassman et al. also notes how there are more cost-effectiveness studies for LMICs (in the thousands), but that these are unlikely to be actually applied to priority- setting processes. Jeremy Shiffman has said that some bodies such as the Institute for Health Metrics and Evaluation and The Lancet are prominent in priority-setting due to their dominion rather than data and analysis, and also notes that the process of creating the Sustainable Development Goals was not sufficiently transparent.
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"The Problem of Social Cost" (1960) by Ronald Coase, then a faculty member at the University of Virginia, is an article dealing with the economic problem of externalities. It draws from a number of English legal cases and statutes to illustrate Coase's belief that legal rules are only justified by reference to a cost–benefit analysis, and that nuisances that are often regarded as being the fault of one party are more symmetric conflicts between the interests of the two parties. If there are sufficiently low costs of doing a transaction, legal rules would be irrelevant to the maximization of production. Because in the real world there are costs of bargaining and information gathering, legal rules are justified to the extent of their ability to allocate rights to the most efficient right-bearer. Along with an earlier article, “The Nature of the Firm”, "The Problem of Social Cost" was cited by the Nobel committee when Coase was awarded the Nobel Memorial Prize in Economic Sciences in 1991.
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Profit maximization using the marginal revenue and marginal cost curves of a perfect competitor Price setting by a monopolist An equivalent perspective relies on the relationship that, for each unit sold, marginal profit (Mπ) equals marginal revenue (MR) minus marginal cost (MC). Then, if marginal revenue is greater than marginal cost at some level of output, marginal profit is positive and thus a greater quantity should be produced, and if marginal revenue is less than marginal cost, marginal profit is negative and a lesser quantity should be produced. At the output level at which marginal revenue equals marginal cost, marginal profit is zero and this quantity is the one that maximizes profit. Since total profit increases when marginal profit is positive and total profit decreases when marginal profit is negative, it must reach a maximum where marginal profit is zero—where marginal cost equals marginal revenue—and where lower or higher output levels give lower profit levels.
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The argument is simple: if one firm sets a price above marginal cost then another firm can undercut it by a small amount (often called epsilon undercutting, where epsilon represents an arbitrarily small amount) thus the equilibrium is zero (this is sometimes called the Bertrand paradox). The Bertrand approach assumes that firms are willing and able to supply all demand: there is no limit to the amount that they can produce or sell. Francis Ysidro Edgeworth considered the case where there is a limit to what firms can sell (a capacity constraint): he showed that if there is a fixed limit to what firms can sell, then there may exist no pure-strategy Nash equilibrium (this is sometimes called the Edgeworth paradox)., reprinted in Martin Shubik developed the Bertrand–Edgeworth model to allow for the firm to be willing to supply only up to its profit maximizing output at the price which it set (under profit maximization this occurs when marginal cost equals price).
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Multiple Market Price Determination; splitting the demand line where it bends (bend: right; split: left and center) The firm decides what amount of the total output to sell in each market by looking at the intersection of marginal cost with marginal revenue (profit maximization). This output is then divided between the two markets, at the equilibrium marginal revenue level. Therefore, the optimum outputs are Qa and Qb. From the demand curve in each market we can determine the profit maximizing prices of Pa and Pb. It is also important to note that the marginal revenue in both markets at the optimal output levels must be equal, otherwise the firm could profit from transferring output over to whichever market is offering higher marginal revenue. Given that Market 1 has a price elasticity of demand of E1 and Market 2 of E2, the optimal pricing ration in Market 1 versus Market 2 is P_1/P_2 = [1+1/E_2]/[1+1/E_1].
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Mann continued his interest in improving methodology to find patterns in high-resolution paleoclimate reconstructions: he was lead author with Bradley and Hughes on a study of long term variability in the El Niño southern oscillations and related teleconnections, published in 2000. His areas of research have included climate signal detection, attribution of climate change and coupled ocean-atmosphere modeling, developing and assessing methods of statistical and time series analysis and comparing the results of modelling against data. The original MBH98 and MBH99 papers avoided undue representation of large numbers of tree ring proxies by using a principal component analysis step to summarise these proxy networks, but from 2001 Mann stopped using this method and introduced a multivariate Climate Field Reconstruction (CFR) technique using a regularized expectation–maximization (RegEM) method which did not require this PCA step. In May 2002 Mann and Scott Rutherford published a paper on testing methods of climate reconstruction which discussed this technique.
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This can be controversial, as it may lead to those groups' remaining marginalized in the government as they become confined to a single district. Candidates outside that district no longer need to represent them to win elections. As an example, much of the redistricting conducted in the United States in the early 1990s involved the intentional creation of additional "majority-minority" districts where racial minorities such as African Americans were packed into the majority. This "maximization policy" drew support by both the Republican Party (who had limited support among African Americans and could concentrate their power elsewhere) and by minority representatives elected as Democrats from these constituencies, who then had safe seats. The 2012 election provides a number of examples as to how partisan gerrymandering can adversely affect the descriptive function of states' congressional delegations. In Pennsylvania, for example, Democratic candidates for the House of Representatives received 83,000 more votes than Republican candidates, yet the Republican-controlled redistricting process in 2010 resulted in Democrats losing to their Republican counterparts in 13 out of Pennsylvania's 18 districts.
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A large part of our everyday lives is about economic actions, be it as consumer, as employee of a company, as shareholder at the stock exchange or as part of the community that defines the political parameters of the economy. 3\. In order to get the economic system up and running, it needs us as we perform the central functions of the economic system together on a daily basis. 4\. Bit by bit, the winners and losers of our economic system become apparent. 5\. The capitalistic system is in a big crisis, having not yet found the road towards renewal. 6\. Due to its maximization approach, the guild of economists bears the responsibility that economy has dehumanized and disconnected from our needs. 7\. Nowadays, economic theory does not correspond with our perceived reality at all. 8\. Current riots around the globe are one result thereof. 9\. We are all asked to change economy. 10\. It is up to us to improve economy and there by improve the living conditions of millions of people. 11.
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This means that not only are commercials being specifically targeted to you through your phone, but now work hand in hand with your environment and habits such as being shown an advertisement of a local bar when walking around downtown in the evening. Advertising attempts this technical and specific can easily have an impact on the one's decision- making process in the activities they choose and in political decisions. Thus the idea that these companies seemingly go unchecked whilst having the power to observe and control thinking is one of the many reasons tech companies such as Google themselves are under so much scrutiny. Furthermore, the freedom allotted to tech companies comes from the idea that “surveillance capitalism does not abandon established capitalist ‘laws’ such as competitive production, profit maximization, productivity and growth”, Zuboff (2019), as they are principles any business in a capitalistic society should aim to excel in, in order to be competitive. Zuboff (2019) claims in an article that “new logic accumulation…introduces its own laws of motion”.
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1\. Unless positivity constraints are assigned, the Markowitz solution can easily find highly leveraged portfolios (large long positions in a subset of investable assets financed by large short positions in another subset of assets) , but given their leveraged nature the returns from such a portfolio are extremely sensitive to small changes in the returns of the constituent assets and can therefore be extremely 'dangerous'. Positivity constraints are easy to enforce and fix this problem, but if the user wants to 'believe' in the robustness of the Markowitz approach, it would be nice if better-behaved solutions (at the very least, positive weights) were obtained in an unconstrained manner when the set of investment assets is close to the available investment opportunities (the market portfolio) – but this is often not the case. 2\. Practically more vexing, small changes in inputs can give rise to large changes in the portfolio. Mean-variance optimization suffers from 'error maximization': 'an algorithm that takes point estimates (of returns and covariances) as inputs and treats them as if they were known with certainty will react to tiny return differences that are well within measurement error' .
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The trial of the Polytechnic gives her vivid experiences not only during the pre-trial under prosecutor Tsevas but also during the trial itself, where newspapers of the time show her holding the bullet that allegedly killed her father. The sum of these experiences and the subsequent realization of the actual mistrial symbolized by that exact photo are the precursors of her activistic action and research. She studied psychology during the time where that science was yet in its infancy in Greece (there wasn’t even a capacity to obtain a psychology diploma from the Hellenic university) in the American College Deree (1973-1977) with graduate studies at McGill University, Canada (1978-1982) in the Educational Psychology and Counseling department, where she specialized in the maximization of intelligence and academic competence, in job orientation, involving educational curricula and psychosocial research, with special focus in the management of the dynamics of the family. Since her return to Greece she has been working on the amelioration of the quality of education for children of lower and middle socioeconomic classes so that they may have access to the same level of education as that of the higher and highest socioeconomic classes.
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The first order condition for each input equates the marginal revenue product of the input (the increment to revenue from selling the product caused by an increment to the amount of the input used) to the marginal cost of the input. For a firm in a perfectly competitive market for its output, the revenue function will simply equal the market price times the quantity produced and sold, whereas for a monopolist, which chooses its level of output simultaneously with its selling price, the revenue function takes into account the fact that higher levels of output require a lower price in order to be sold. An analogous feature holds for the input markets: in a perfectly competitive input market the firm's cost of the input is simply the amount purchased for use in production times the market- determined unit input cost, whereas a monopsonist’s input price per unit is higher for higher amounts of the input purchased. The principal difference between short-run and long-run profit maximization is that in the long run the quantities of all inputs, including physical capital, are choice variables, while in the short run the amount of capital is predetermined by past investment decisions.
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According to Lalor a society with a public authority that provides at least one public good can be said to have a public administration whereas the absence of either (or a fortiori both) a public authority or the provision of at least one public good implies the absence of a public administration. He argues that public administration is the public provision of public goods in which the demand function is satisfied more or less effectively by politics, whose primary tool is rhetoric, providing for public goods, and the supply function is satisfied more or less efficiently by public management, whose primary tools are speech acts, producing public goods. The moral purpose of public administration, implicit in its acceptance of its role, is the maximization of the opportunities of the public to satisfy its wants.Lalor, Stephen A General Theory of Public Administration (2014) The North American Industry Classification System definition of the Public Administration (NAICS 91) sector states that public administration "... comprises establishments primarily engaged in activities of a governmental nature, that is, the enactment and judicial interpretation of laws and their pursuant regulations, and the administration of programs based on them".
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Robinson has published twenty-one books in the areas of criminal justice, crime mapping, criminological theory, corporate crime, media coverage of crime, the war on drugs, the death penalty, social justice, and race and crime in the United States. His books include Justice Blind? Ideals and Realities of American Criminal Justice (Prentice Hall, 2002, 2005, 2009), Why Crime? An Integrated Systems Theory of Antisocial Behavior (Prentice Hall, 2004), Why Crime? An Interdisciplinary Approach to Explaining Criminal Behavior (Carolina Academic Press, 2009, 2019), Spatial Aspects of Crime: Theory and Practice (Allyn & Bacon, 2004), The Drug Trade and the Criminal Justice System (Pearson, 2005), Crime Mapping and Spatial Aspects of Crime: Theory and Practice (Allyn & Bacon, 2008), Lies, Damn Lies, and Drug War Statistics (State University of New York Press, 2007, 2013), Death Nation: The Experts Explain American Capital Punishment (Prentice Hall, 2007), Greed is Good: Maximization and Elite Deviance in America (Rowman & Littlefield, 2008), Media Coverage of Crime and Criminal Justice (Carolina Academic Press, 2011, 2014, 2018), Crime Prevention: The Essentials (Bridgepoint Education, 2013), Criminal INjustice: How Politics and Ideology Distort American Ideals (Carolina Academic Press, 2014, 2020), Social Justice, Criminal Justice: The Role of American Law in Effecting and Preventing Social Change (Anderson, 2015), and Race, Ethnicity, Crime, and Justice (Carolina Academic Press, 2015).
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