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We present a methodology for rating in real-time the creditworthiness of public companies in the U.S. from the prices of traded assets. Our approach uses asset pricing data to impute a term structure of risk neutral survival functions or default probabilities. Firms are then clustered into...
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Gaussian processes retain the linear model either as a special case, or in the limit. We show how this relationship can be exploited when the data are at least partially linear. However from the perspective of the Bayesian posterior, the Gaussian processes which encode the linear model either...
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A generalized critical point can be characterized by non-linear dynamics. We formulate the deterministic and stochastic theory of relaxation at such a point. Canonical problems are used to motivate the general solutions. In the deterministic theory, we show that at the critical point certain...
Persistent link: https://www.econbiz.de/10010871937
A generalized critical point is characterized by the vanishing of certain linear relationships. In particular, the dynamics near such a point are non-linear. In this paper, we study fluctuations at such points of spatially homogeneous systems. We discuss thermodynamic critical points as a...
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Ecosystem-based fishery management (EBFM) requires taking account of indirect effects (such as habitat destruction, incidental mortality, and competition between the fishery and marine mammals or birds) and dealing with non-commensurate values (such as yield from the fishery and production of...
Persistent link: https://www.econbiz.de/10008868573
Learning about ecosystem processes and patterns is an essential component of Ecosystem Based Fishery Management and the sustainable use of natural resources. Currently, such learning is usually done through adaptive management (passive or active) or Management Strategy Evaluation, which are...
Persistent link: https://www.econbiz.de/10008868676