Isoelastic utilityIn economics, the isoelastic function for utility, also known as the isoelastic utility function, or power utility function, is used to express utility in terms of consumption or some other economic variable that a decision-maker is concerned with. The isoelastic utility function is a special case of hyperbolic absolute risk aversion and at the same time is the only class of utility functions with constant relative risk aversion, which is why it is also called the CRRA utility function.
Risque financierUn risque financier est un risque de perdre de l'argent à la suite d'une opération financière (sur un actif financier) ou à une opération économique ayant une incidence financière (par exemple une vente à crédit ou en devises étrangères). Le risque de marché est le risque de perte qui peut résulter des fluctuations des prix des instruments financiers qui composent un portefeuille. Le risque de contrepartie est le risque que la partie avec laquelle un contrat a été conclu ne tienne pas ses engagements (livraison, paiement, remboursement, etc.
Optimal stoppingIn mathematics, the theory of optimal stopping or early stopping is concerned with the problem of choosing a time to take a particular action, in order to maximise an expected reward or minimise an expected cost. Optimal stopping problems can be found in areas of statistics, economics, and mathematical finance (related to the pricing of American options). A key example of an optimal stopping problem is the secretary problem. Optimal stopping problems can often be written in the form of a Bellman equation, and are therefore often solved using dynamic programming.
Doob's martingale convergence theoremsIn mathematics specifically, in the theory of stochastic processes Doob's martingale convergence theorems are a collection of results on the limits of supermartingales, named after the American mathematician Joseph L. Doob. Informally, the martingale convergence theorem typically refers to the result that any supermartingale satisfying a certain boundedness condition must converge.
Equity riskEquity risk is "the financial risk involved in holding equity in a particular investment." Equity risk is a type of market risk that applies to investing in shares. The market price of stocks fluctuates all the time, depending on supply and demand. The risk of losing money due to a reduction in the market price of shares is known as equity risk. The measure of risk used in the equity markets is typically the standard deviation of a security's price over a number of periods.
The Last LectureThe Last Lecture is a 2008 New York Times best-selling book co-authored by Randy Pausch —a professor of computer science, human-computer interaction, and design at Carnegie Mellon University in Pittsburgh, Pennsylvania—and Jeffrey Zaslow of the Wall Street Journal. The book extends the September 2007 lecture by Pausch entitled "Really Achieving Your Childhood Dreams". The Last Lecture is renowned for its witty humor, despite encompassing Pausch's farewell to his loved ones due to his terminal pancreatic cancer.
Halley LecturesThe Halley Lectures are a series of annual public lectures hosted by the University of Oxford, in memory of the astronomer Edmond Halley. Currently, some podcasts of the lectures can be found through the Oxford Physics Public Lectures These lectures aim to promote public understanding and engagement with science, mathematics, and related fields, and to inspire new generations of researchers and students to pursue careers in these areas.
Quasilinear utilityIn economics and consumer theory, quasilinear utility functions are linear in one argument, generally the numeraire. Quasilinear preferences can be represented by the utility function where is strictly concave. A useful property of the quasilinear utility function is that the Marshallian/Walrasian demand for does not depend on wealth and is thus not subject to a wealth effect; The absence of a wealth effect simplifies analysis and makes quasilinear utility functions a common choice for modelling.
Charles P. Steinmetz Memorial LectureThe Charles Proteus Steinmetz Memorial Lecture is a series of academic lectures initiated in 1925 in honor of celebrated mathematician and electrical engineer Charles Proteus Steinmetz. To date seventy four addresses have been given on subjects ranging from peace and educational reform to nanotechnology and solar photovoltaics. The most recent, "The Evolution of the Smart Grid from Edison and Steinmetz", was delivered by Dr. Anjan Bose, Regents Professor at Washington State University, on October 2, 2018.
Exponential utilityIn economics and finance, exponential utility is a specific form of the utility function, used in some contexts because of its convenience when risk (sometimes referred to as uncertainty) is present, in which case expected utility is maximized. Formally, exponential utility is given by: is a variable that the economic decision-maker prefers more of, such as consumption, and is a constant that represents the degree of risk preference ( for risk aversion, for risk-neutrality, or for risk-seeking).
Lectures on Faith"Lectures on Faith" is a set of seven lectures on the doctrine and theology of the Church of Jesus Christ of Latter Day Saints, first published as the doctrine portion of the 1835 edition of the canonical Doctrine and Covenants (D&C), but later removed from that work by both major branches of the faith. The lectures were originally presented by Joseph Smith to a group of elders in a course known as the "School of the Prophets" in the early winter of 1834–35 in Kirtland, Ohio.
