Realized divergence gauges the distinct realized moments associated with time-varying uncertainty and is tradeable with divergence swaps engineered from delta-hedged option portfolios. Consistently with established notions of symmetry in arbitrage-free option markets, implied divergence...

This text was written as part of the project Modelling of Complex Systems for Public Policy. It reviews the classical authors who jointly contributed to establish the elements of what could constitute a "science of complexity". Based on the original writings of these authors, the text discusses...

Every individual channels information differently based on their preference of the sensory modality or representational system (visual auditory or kinesthetic) we tend to favor most (our primary representational system (PRS)). Therefore, some of us access and store our information primarily...

We use an information-theoretic approach to interpret Engle's (1982) and Bollerslev's (1986) GARCH model as a model for the motion in time of the expected conditional second power moment. This interpretation is used to show how these models may be generalized, if we use alternative measures of...

Due to increasing interest in sustainable development, today s engineer is often tasked with designing systems that are environmentally benign over their entire life cycles. Unfortunately, environmental assessments commonly suffer from significant uncertainty due to lack of information,...