One-sided Models Research Articles

Optimal dividends and capital injection: A general Lévy model with extensions to regime-switching models

This paper studies a general Lévy process model of the bail-out optimal dividend problem with an exponential time horizon, and further extends it to the regime-switching model. We first show the optimality of a double barrier strategy in the single-regime setting with a concave terminal payoff function. This is then applied to show the optimality of a Markov-modulated double barrier strategy in the regime-switching model via contraction mapping arguments. We solve these for a general Lévy model with both positive and negative jumps, greatly generalizing the existing results on spectrally one-sided models.

Comparison of one-sided and diffusion-limited evaporation models for thin liquid droplets

Comparison of one-sided and diffusion-limited evaporation models for thin liquid droplets

Initial employability development: introducing a conceptual model integrating signalling and social exchange mechanisms

ABSTRACT This article develops a conceptual understanding of initial employability development, specifically the transition into first career destinations. Substantial previous research focuses on the role of individuals in ensuring employment readiness and continued employability development. Studies also identify the importance of employers for sustained employability. However, the interdependence and interaction between employers and individuals are under-theorized. We integrate social exchange theory and signalling theory to conceptualize initial employability development. We propose a cyclical model that comprises interactive and reciprocal signalling and social exchange processes between employers and individuals. The model overcomes the limitations of linear conceptualizations and one-sided models that theorize employability as either the outcome of human capital resources deployed by individuals or as managed by employers in employability development processes. We extend the processual approach to employability by redirecting theoretical attention to the interaction of signalling and social exchange as fundamental to employability development. We conclude by discussing implications in relation to employability research and theory development.

Tempered stable autoregressive models

In this article, we introduce and study a one sided tempered stable first order autoregressive model called TAR(1). Under the assumption of stationarity of the model, the marginal probability density function of the error term is found. It is shown that the distribution of the error term is infinitely divisible. Parameter estimation of the introduced TAR(1) process is done by adopting the conditional least square and method of moments based approach and the performance of the proposed methods are evaluated on simulated data. Also, we study an autoregressive model of order one with tempered stable innovations. Using appropriate test statistic it is shown that the model fits very well on real and simulated data. Our models generalize the inverse Gaussian and one-sided stable autoregressive models existing in the literature.

Tectonomagmatic reconstruction of the Upper Mesozoic-Cenozoic Neotethyan arcs in the Lut block, East Iran: a review and synthesis

The Lut Block in east Iran with a widespread record of arc-type Mesozoic-Cenozoic magmatic rocks is bordered by the Birjand (Sistan) ophiolitic assemblage to the east and the Sabzevar ophiolitic assemblage to the north. The nature and tectonomagmatic setting of these sutures and associated arcs are controversial. The geochemical attributes of the Upper Cretaceous-Paleogene intrusive and extrusive rocks in the central (CLB) and the northern Lut block (NLB) and in the Sabzevar ophiolite zone (SOZ), Late Cretaceous calc-alkaline and adakitic rocks to the east of the Sistan suture (CAS), and the Bazman intrusives to the west are consistent with a subduction-related volcanic arc setting. The Najmabad granitoids in the NLB compositionally overlap with the Eocene Sabzevar calcalkaline and adakitic lava flows (ESA), implying a common magmatic source and a similar trend of evolution. The island arc basalt-like geochemical patterns and the initial Sr and Nd isotope compositions for the CLB intrusive bodies suggest that the parent magmas formed by partial melting in a suprasubduction mantle wedge. The initial 87Sr/861Sr and εNd(t) values for the CAS, the Bazman intrusives, the ESA, and the Najmabad granitoids are similar and overlap those of the Sabzevar ophiolitic rocks. Here, we review the previously proposed one-sided subduction models for the Lut block and the Sabzevar suture zone, and discuss in favour of a two-sided asymmetric subduction as an alternative geodynamic model.

Analysis of the Dynamic Stiffness, Hysteresis Resonances and Complex Responses for Nonlinear Spring Systems in Power-Form Order

Power-form nonlinear contact force models are widely adopted in relatively moving parts of macro (e.g., rolling bearings considering Hertzian contact restoring force between rolling elements and bearing raceways) or micro (e.g., the micro cantilever probe system of atomic force microscopy) scale mechanical systems, and contact resonance could cause serious problems of wear, contact fatigue, vibration, and noise, which has attracted widespread attention. In the present paper, the softening/hardening stiffness characteristics of continuous and one-sided contact power-form nonlinear spring models are addressed, respectively, by the analysis of the monotone features of resonant frequency-response skeleton lines. Herein, the period-n solution branch and its stability characteristics are obtained by the harmonic balance and alternating frequency/time domain (HB–AFT) method and Floquet theory. Compared with previous studies, this paper will furtherly clarify the influences of externally normal load, the power form exponent term, and excitation amplitude on the softening/hardening stiffness characteristics of general power-form spring systems. In addition, for a power-form system with a one-sided contact, the phenomena of primary and super/sub-harmonic hysteretic resonances inducing period-doubling, folding bifurcation, the coexistence of multiple solutions are demonstrated. Besides, it gives the evolution mechanism of two types of intermittency chaos in a one-sided contact system. The overall results may have certain basic theoretical significance and engineering values for the control of vibration and noise in contact mechanical systems.

Measurement-dependence cost for Bell nonlocality: Causal versus retrocausal models

Device independent protocols based on Bell nonlocality, such as quantum key distribution and randomness generation, must ensure no adversary can have prior knowledge of the measurement outcomes. This requires a measurement independence assumption: that the choice of measurement is uncorrelated with any other underlying variables that influence the measurement outcomes. Conversely, relaxing measurement independence allows for a fully `causal' simulation of Bell nonlocality. We construct the most efficient such simulation, as measured by the mutual information between the underlying variables and the measurement settings, for the Clauser-Horne-Shimony-Holt (CHSH) scenario, and find that the maximal quantum violation requires a mutual information of just $\sim 0.080$ bits. Any physical device built to implement this simulation allows an adversary to have full knowledge of a cryptographic key or `random' numbers generated by a device independent protocol based on violation of the CHSH inequality. We also show that a previous model for the CHSH scenario, requiring only $\sim 0.046$ bits to simulate the maximal quantum violation, corresponds to the most efficient `retrocausal' simulation, in which future measurement settings necessarily influence earlier source variables. This may be viewed either as an unphysical limitation of the prior model, or as an argument for retrocausality on the grounds of its greater efficiency. Causal and retrocausal models are also discussed for maximally entangled two-qubit states, as well as superdeterministic, one-sided and zigzag causal models.

Efficient Wine Pricing Using Stochastic Frontier Models

AbstractWe specify a two-tier stochastic frontier model to estimate a price equation for U.S. Rieslings and determine overpricing and underpricing of specific wines. The data is for 2000–2016. Using tasting score and tasting score squared as sole independent variables, we found evidence of overpricing and underpricing of wines. When additional location variables were entered, empirical estimates for this two-tier model were infeasible, suggesting that both underpricing and overpricing did not occur simultaneously in this market. Separate one-sided stochastic frontier models were then specified and estimated to test for either under or overpricing in this market. Results showed that overpricing exists and not underpricing, but the extent of overpricing is minor, suggesting that wineries do an efficient job pricing their wines, given tasting scores, conditional on regional location premiums or discounts. We also investigated the effect of scale on pricing for a smaller set of wineries. (JEL Classifications: C4, D4, Q1)

A diffusion approximation for limit order book models

This paper derives a diffusion approximation for a sequence of discrete-time one-sided limit order book models with non-linear state dependent order arrival and cancellation dynamics. The discrete time sequences are specified in terms of an R+-valued best bid price process and an Lloc2-valued volume process. It is shown that under suitable assumptions the sequence of interpolated discrete time models is relatively compact in a localized sense and that any limit point satisfies a certain infinite dimensional SDE. Under additional assumptions on the dependence structure we construct two classes of models, which fit in the general framework, such that the limiting SDE admits a unique solution and thus the discrete dynamics converge to a diffusion limit in a localized sense.

Pricing in C2C Sharing Platforms

Sharing platforms such as Zilok.com enable the sharing of durable goods among consumers, and seek to maximize profits by charging transaction-based platform fees. We develop a model where consumers that are heterogeneous in their need to use a durable good decide whether to purchase and share (i.e., be a lender) or borrow (i.e., be a borrower), and a monopoly sharing platform decides on the platform fees. We find first that consumers with a greater need to use a durable good purchase and share, and that consumers with a lesser need borrow. Second, sharing platforms maximize profits only if the supply of a durable good matches demand – that is, the market must clear for platform fees to be profit maximizing. Third, the market-clearing condition requires that lender and borrower fees are classic strategic complements. Fourth, to maintain the market-clearing condition, sharing platforms have to increase their lender fee or decrease their borrower fee in response to increases in the sharing price, increases in usage capacity, and decreases in the purchase price of a durable good, and vice versa. These findings indicate that commonly applied one-sided pricing models in sharing platforms can be improved.

Detection of jump location curve in spatial linear regression model with two-dimensional threshold

ABSTRACTIn the context of spatial linear regression, we discuss detection of jump location curve treated as threshold curve which cannot be expressed by independent variables but indirectly determines two specific model forms. The threshold curve in this paper is described by a straight line with two location variables, longitude and latitude, and can be estimated by maximizing the coefficient difference between two one-sided linear regression models. Theoretical results show that the estimator is consistent. Our method performs well by numerical studies.

Boundary conditions for a one-sided numerical model of evaporative instabilities in sessile drops of ethanol on heated substrates.

The work is focused on obtaining boundary conditions for a one-sided numerical model of thermoconvective instabilities in evaporating pinned sessile droplets of ethanol on heated substrates. In the one-sided model, appropriate boundary conditions for heat and mass transfer equations are required at the droplet surface. Such boundary conditions are obtained in the present work based on a derived semiempirical theoretical formula for the total droplet's evaporation rate, and on a two-parametric nonisothermal approximation of the local evaporation flux. The main purpose of these boundary conditions is to be applied in future three-dimensional (3D) one-sided numerical models in order to save a lot of computational time and resources by solving equations only in the droplet domain. Two parameters, needed for the nonisothermal approximation of the local evaporation flux, are obtained by fitting computational results of a 2D two-sided numerical model. Such model is validated here against parabolic flight experiments and the theoretical value of the total evaporation rate. This study combines theoretical, experimental, and computational approaches in convective evaporation of sessile droplets. The influence of the gravity level on evaporation rate and contributions of different mechanisms of vapor transport (diffusion, Stefan flow, natural convection) are shown. The qualitative difference (in terms of developing thermoconvective instabilities) between steady-state and unsteady numerical approaches is demonstrated.

Examining Patterns of Food Exchange and Dependency at Moose Fort, 1783-1785

Many historians studying the fur trade have argued or assumed that Indigenous peoples swiftly became dependent on the fur trading posts in North America for their survival. In order to gain insight into native-newcomer relations but also particuarly to address the question of dependency, this paper examines patterns of food exchange between Hudson’s Bay Company men employed at Moose Fort and the James Bay Cree homeguard that lived near the Fort from October 1783 to September 1785. It finds that the flow of foodstuffs from Indigenous peoples to Moose Fort greatly outweighed the flow of food from the Fort to Iindigenous peoples. Furthermore, this paper will argue that the traders of Moose Fort were consistently reliant upon these provisions supplied by Indigenous hunters, trappers and fishers, as periods when most Indigenous providers were absent from the area resulted in conditions of food crises at the Fort. Thus, the relations of food exchange at Moose Fort provided mutual benefits to both parties, but it was ultimately the Fort itself that was much more dependent upon this relationship. Overall, this evidence calls for more nuanced and less one-sided theoretical models of dependency in the history of the fur trade.

Pricing in C2C Sharing Platforms

Sharing platforms such as Zilok.com enable the sharing of durable goods among consumers, and seek to maximize profits by charging transaction-based platform fees. We develop a model where consumers that are heterogeneous in their need to use a durable good decide whether to purchase and share (i.e., be a lender) or borrow (i.e., be a borrower), and a monopoly sharing platform decides on the platform fees. We find first that consumers with a greater need to use a durable good purchase and share, and that consumers with a lesser need borrow. Second, sharing platforms maximize profits only if the supply of a durable good matches demand – that is, the market must clear for platform fees to be profit maximizing. Third, the market-clearing condition requires that lender and borrower fees are classic strategic complements. Fourth, to maintain the market-clearing condition, sharing platforms have to increase their lender fee or decrease their borrower fee in response to increases in the sharing price, increases in usage capacity, and decreases in the purchase price of a durable good, and vice versa. These findings indicate that commonly applied one-sided pricing models in sharing platforms can be improved.

The Distribution of Exchange Rates Under a Minimum Exchange Rate Regime

This paper adjusts the Chen and Giovannini (1992) methodology to estimate the unconditional distribution of exchange rates under a one-sided target zone regime, where a central bank commits itself to intervene on foreign exchange markets to prevent its currency to move beyond a previously announced target level vis-à-vis a specific foreign currency. An application of this methodology to the 2011–2015 EUR/CHF minimum exchange rate regime shows that the Swiss National Bank presumably intervened only at (or very close to) the floor level of EUR/CHF 1.20 and not at a level significantly above that boundary. Hence, contrary to previous studies, the reported results accord with the predictions of the Krugman (1991) target zone model about the behavior of exchange rates, allowing investors to gain insights about the central bank's policy function in extraordinary monetary situations and with important consequences for the descriptive validity of theoretical one-sided target zone models.

Rectangles Are Nonnegative Juntas

We develop a new method to prove communication lower bounds for composed functions of the form $f\circ g^n$, where $f$ is any boolean function on $n$ inputs and $g$ is a sufficiently “hard” two-party gadget. Our main structure theorem states that each rectangle in the communication matrix of $f \circ g^n$ can be simulated by a nonnegative combination of juntas. This is a new formalization for the intuition that each low-communication randomized protocol can only “query” a few inputs of $f$ as encoded by the gadget $g$. Consequently, we characterize the communication complexity of $f\circ g^n$ in all known one-sided (i.e., not closed under complement) zero-communication models by a corresponding query complexity measure of $f$. These models in turn capture important lower bound techniques such as corruption, smooth rectangle bound, relaxed partition bound, and extended discrepancy. As applications, we resolve several open problems from prior work. We show that $\mathsf{SBP}^{\sf cc}$ (a class characterized...

Contribution of personal and environmental factors on positive psychological functioning in adolescents

This study examined self-esteem as mediator in the relations of personal (extraversion, neuroticism) and environmental (maternal, paternal, peer-relationships) variables with domains of positive psychological functioning (PPF) in adolescence (Satisfaction with life, Mastery, Vigor, Social Interest, Social Cheerfulness).We compared one-sided and multidimensional models using a sample of 1193 high school students (592 males and 601 females). We examined variations in adolescent PPF as a function of parenting styles via independent examination of maternal and paternal bonding. Results supported the multidimensional models, which indicated direct effects of personality traits, maternal care and peer relationships, as well as indirect effects, mediated by self-esteem, of all predictors on most PPF dimensions.Overall, our study provided a broader picture of personal and environmental predictors on different dimensions of PPF, which supported the mediating role of self-esteem and emphasized the importance of considering multidimensional models to characterize PPF in adolescents.

Importance of wave-number dependence of Biot numbers in one-sided models of evaporative Marangoni instability: Horizontal layer and spherical droplet.

A one-sided model of the thermal Marangoni instability owing to evaporation into an inert gas is developed. Two configurations are studied in parallel: a horizontal liquid layer and a spherical droplet. With the dynamic gas properties being admittedly negligible, one-sided approaches typically hinge upon quantifying heat and mass transfer through the gas phase by means of transfer coefficients (like in the Newton's cooling law), which in dimensionless terms eventually corresponds to using Biot numbers. Quite a typical arrangement encountered in the literature is a constant Biot number, the same for perturbations of different wavelengths and maybe even the same as for the reference state. In the present work, we underscore the relevance of accounting for its wave-number dependence, which is especially the case in the evaporative context with relatively large values of the resulting effective Biot number. We illustrate the effect in the framework of the Marangoni instability thresholds. As a concrete example, we consider HFE-7100 (a standard refrigerant) for the liquid and air for the inert gas.

Monopoly Pricing and Diffusion of (Social) Network Goods

I present a new model of optimal dynamic pricing and diffusion of a network good sold by a monopolist. The good in this model is a social network good in that each consumer’s value of the good within a social network increases as more of her neighbors use the good. In each period, the monopolist sets a subscription price and consumers myopically optimize their choices after comparing the overall adoption and the current subscription price. Thus, in contrast with one-sided diffusion models in the social network literature, the diffusion process arises as an equilibrium behavior of both the monopolist and consumers. As a result, I characterize a unique equilibrium, in which the diffusion process stays at a certain point. The equilibrium is efficient in that it involves the highest adoption rate with respect to the equilibrium subscription price. I also present the deadweight loss in the equilibrium and show how it depends on the connectivity of the underlying social network.

Diagnosing the causes and severity of one-sided message contention

Two trends suggest network contention for one-sided messages is poised to become a performance problem that concerns application developers: an increased interest in one-sided programming models and a rising ratio of hardware threads to network injection bandwidth. Often it is difficult to reason about when one-sided tasks decrease or increase network contention. We present effective and portable techniques for diagnosing the causes and severity of one-sided message contention. To detect that a message is affected by contention, we maintain statistics representing instantaneous network resource demand. Using lightweight measurement and modeling, we identify the portion of a message's latency that is due to contention and whether contention occurs at the initiator or target. We attribute these metrics to program statements in their full static and dynamic context. We characterize contention for an important computational chemistry benchmark on InfiniBand, Cray Aries, and IBM Blue Gene/Q interconnects. We pinpoint the sources of contention, estimate their severity, and show that when message delivery time deviates from an ideal model, there are other messages contending for the same network links. With a small change to the benchmark, we reduce contention by 50% and improve total runtime by 20%.