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Of all publications in the section: 4 012
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Working paper
Zimin A., Gladkov N. math. arxive. Cornell University, 2018
We construct an explicit solution for the multimarginal transportation problem on the unit cube [0,1]3 with the cost function xyz and one-dimensional uniform projections. We show that the primal problem is concentrated on a set with non-constant local dimension and admits many solutions, whereas the solution to the corresponding dual problem is unique (up to addition of constants).
Working paper
Yanovskaya E. B. Economics. EC. Высшая школа экономики, 2016. No. 127.
Two-person games and cost/surplus sharing problems are worth for studying because they are the base for their extending to the classes of such problems with variable population with the help of very powerful consistency properties. In the paper a family of cost-sharing methods for cost sharing problems with two agents [Moulin 2000] is extended to a class of solutions for two-person cooperative games that are larger than both cost-sharing and surplus-sharing problems, since cooperative games have no no restrictions on positivity of costs and surpluses. The tool of the extension is a new invariance axiom -- self covariance -- that can be applied both to cost-sharing methods and to cooperative game solutions. In particular, this axiom replaces the Lower composition axiom not applicable to methods for profit sharing problems.
Working paper
Яновская Е. В. Economics/EC. WP BRP. Высшая школа экономики, 2016. No. BRP 127/EC/2016 .
Two-person games and cost/surplus sharing problems are worth for studying because they are the base for their extending to the classes of such problems with variable population with the help of very powerful consistency properties. In the paper a family of cost-sharing methods for cost sharing problems with two agents [Moulin 2000] is extended to a class of solutions for two-person cooperative games that are larger than both cost-sharing and surplus-sharing problems, since cooperative games have no no restrictions on positivity of costs and surpluses. The tool of the extension is a new invariance axiom -- self covariance -- that can be applied both to cost-sharing methods and to cooperative game solutions. In particular, this axiom replaces the Lower composition axiom not applicable to methods for profit sharing problems
Working paper
Veretennikov A., Aivaliotis G. arxiv.org. cond-mat. Cornell University, 2015
We consider a general continuous mean-variance problem where the cost functional has an integral and a terminal-time component. We transform the problem into a superposition of a static and a dynamic optimization problem. The value function of the latter can be considered as the solution to a degenerate HJB equation either in viscosity or in Sobolev sense (after regularization) under suitable assumptions a nd with implications with regards to the optimality of strategies.
Working paper
Yakovlev A. A., Tkachenko A., Demidova O. et al. Public Administration. PA. Высшая школа экономики, 2013. No. WP BRP 08/PA/2013.
The reform of budget-sector entities enables us to compare the impact of different types of public procurement regulations in budget and autonomous organizations in Russia. Such analysis is important in light of the critical discussion of the effects of current procurement regulation (94-FL), as well as taking into account the introduction of the Federal Contract System in 2014. Using the difference-in-differences methodology, we shall consider public procurements of two national universities in 2011–2012. All procurements of the first university were regulated by the 94-FL requirements. Procurements of the second university were regulated by the 94-FL until June 2011. Later this university introduced its own Procurements Provision. A comparative analysis of procurements of these organizations enables us to estimate the impact of the different types of regulations on the effectiveness of public procurement, as measured by the level of competition and price decline in public tenders, as well as the timely execution of procurement contracts.
Working paper
Karpov A. V. Economics/EC. WP BRP. Высшая школа экономики, 2018. No. 188.
This paper presents a novel combinatorial approach for voting rule analysis. Applying reversal symmetry, we introduce a new class of preference profiles and a new representation (bracelet representation). By applying an impartial, anonymous, and neutral culture model for the case of three alternatives, we obtain precise theoretical values for the number of voting situations for the plurality rule, the run-off rule, the Kemeny rule, the Borda rule, and the scoring rules in the extreme case. From enumerative combinatorics, we obtain an information utilization index for these rules. The main results are obtained for the case of three alternatives.
Working paper
Shakina E., Barajas A. Management. MAN. Высшая школа экономики, 2015. No. WP BRP 33/MAN/2015.
This study explores the successful strategies of companies during the 2008-2009 economic crisis. We investigate whether it is reasonable for companies to intensify intangibles when markets fall. This paper aims to find empirical evidence that companies with a clear intangible-intensive profile are likely to outperform those without a strategy. The results established in this study shed some light on the global economic crisis in 2008-2009. More than 1600 European companies were involved in the empirical analysis. The findings of this study demonstrate that companies with a conservative profile in intangibles outperform moderate and innovative ones. Still an innovative profile enables a faster recovery after a crisis
Working paper
Gutkin B., Keramati M., Girardeau P. et al. the preprint server for biology. код неизвестен, зарубежная публикация. Cold Spring Harbor Laboratory, 2015
Drugs of abuse implicate both reward learning and homeostatic regulation mechanisms of the brain. Theories of addiction, thus, have mostly depicted this phenomenon as pathology in either habit-based learning system or homeostatic mechanisms. Showing the limits of those accounts, we hypothesize that compulsive drug seeking arises from drugs hijacking a system that integrates homeostatic regulation mechanism with goal-directed action/behavior. Building upon a recently developed homeostatic reinforcement learning theory, we present a computational theory proposing that cocaine reinforces goal-directed drug-seeking due to its rapid homeostatic corrective effect, whereas its chronic use induces slow and long-lasting changes in homeostatic setpoint. Our theory accounts for key behavioral and neurobiological features of addiction, most notably, escalation of cocaine use, drug-primed craving and relapse, and individual differences underlying susceptibility to addiction. The theory also generates unique predictions about the mechanisms of cocaine-intake regulation and about cocaine-primed craving and relapse that are confirmed by new experiments.
Working paper
Lytkina E. Psychology. PSY. Высшая школа экономики, 2015. No. WP BRP 32/PSY/2015.
Unlike commonly used, anomie and alienation not only have different theoretical backgrounds, but also different indicators and predictors. I examine the highly institutionalized alienation scale originally introduced by Middleton (1963), reapplied as a measurement of alienation (Seeman, 1991) and anomie (Huschka and Mau 2005, 2006) in a very relevant context for an anomic situation – the post-Communist countries Russia and Kazakhstan (round six of the World Values Surveys fielded the alienation question in just these two countries). Based on confirmatory factor analysis and multiple group comparisons, I find that the scale consists of two dimensions, which can be described as an anomie and alienation. The anomic dimension consists of indicators “normlessness” and “powerlessness,” whereas the alienative one is comprised by “social isolation”, “meaninglessness,” and “job dissatisfaction.” Though the structure proves to have full invariance in both countries, the predictors for anomie and alienation are different. For both countries, only income is an important predictor for anomie, and though to a lower degree, for alienation. In Kazakhstan, the level of urbanization also provides an impact on the level of anomie. Apart from income, in Russia alienation can be predicted by gender, and type of occupation (manual or intellectual), whereas in Kazakhstan it can be predicted by age
Working paper
Skorobogatov A. Economics/EC. WP BRP. Высшая школа экономики, 2014. No. WP BRP 60/EC/2014.
This paper documents the negative link between the age of Russian cities and their average wage. This link is robust to various definitions of city age and sample censuring, the inclusion of regional and time fixed effects, dependent variable spatial lag and many urban characteristics. This link is revealed especially for cities founded after the Soviet industrialization and for upper quintiles of cities by their average wage. To determine a mechanism behind the established fact, hypotheses as to spatial patterns of economic performance are discussed, including the increasing return hypothesis, the institutions hypothesis and the geography hypothesis. Following the sophisticated version of the geography hypothesis, a model of growth in n-city and two-sector economy is developed. The model replicates the link between age and per capita income and contains testable hypotheses that enable one to check whether a mechanism outlined in the model is behind the link between city age and wage. Our empirical strategy is based on a quasi-experiment, in which the treatment effect is made by time and various age groups of the cities are broken up into treatment and control groups. The results are strongly in favor of the sophisticated geography hypothesis. The revealed mechanism suggests that the changing spatial patterns of wage differentials are explained by the changing remaining stocks of natural resources. Older cities are getting relatively poorer due to the shrinking of their remaining resource stocks, while new cities are emerging in resource-rich territories with the respective income advantages.
Working paper
Lapshin V. A., Vadim Ya Kaushanskiy. Financial Economics. FE. Высшая школа экономики, 2014. No. 39.
We present a new nonparametric method for fitting the term structure of interest rates from bond prices. Our method is a variant of the smoothing spline approach, but within our framework we are able to determine the smoothing coefficient automatically from the data using generalized crossvalidation or maximum likelihood estimates. We present an effective numerical algorithm to simultaneously find the term structure and the optimal smoothing coefficient. Finally, we compare the proposed nonparametric fitting method with other parametric and nonparametric methods to show its superior performance.
Working paper
Ilyashenko Y., Kudryashov Y., Schurov I. arxiv.org. math. Cornell University, 2015. No. 1506.06797.
This is the first part of a two parts paper dedicated to global bifurcations in the plane. In this part we construct an open set of three parameter families whose topological classification has a numerical invariant that may take an arbitrary positive value. In the second part we construct an open set of six parameter families whose topological classification has a functional invariant. Any germ of a monotonically increasing function may be realized as this invariant. Here "families" are "families of vector fields in the two-sphere".
Working paper
Soukhanov L. arxiv.org. math. Cornell University, 2015
We study the enumerative geometry of orbits of multidimensional toric action on projective algebraic varieties and develop a new cyclic differential-graded operad, conjecturally governing the real version of the enumerative geometry of these toric orbits.
Working paper
Suzdaltsev A. arxiv.org. Theoretical Economics. Cornell University, 2020
An indivisible object may be sold to one of n agents who know their valuations of the object. The seller would like to use a revenue-maximizing mechanism but her knowledge of the valuations' distribution is scarce: she knows only the means (which may be different) and an upper bound for valuations. Valuations may be correlated. Using a constructive approach based on duality, we prove that a mechanism that maximizes the worst-case expected revenue among all deterministic dominant-strategy incentive compatible, ex post individually rational mechanisms is such that the object should be awarded to the agent with the highest linear score provided it is nonnegative. Linear scores are bidder-specific linear functions of bids. The set of optimal mechanisms includes other mechanisms but all those have to be close to the optimal linear score auction in a certain sense. When means are high, all optimal mechanisms share the linearity property. Second-price auction without a reserve is an optimal mechanism when the number of symmetric bidders is sufficiently high.
Working paper
Penikas H. I. Financial Economics. FE. Высшая школа экономики, 2012. No. 03.
The Basel Committee of Banking Supervision initiated a discussion on the most efficient practices to prevent bank managers from excessive risk-taking. This paper proposes a game-theoretical approach, describing the decision-making process by a bank manager who chooses his own level of risk and effort. If the level of risk implies the variability of the future outcome, the amount of effort applied affects the probability of a positive outcome. Although effort is unobserved for the bank’s stakeholders, the risk level is under control, and is associated with certain indicators such as capital adequacy ratio or leverage level. The risk-neutral utility function of a bank manager and a binary game outcome of gaining profit or loss for a bank are assumed. Starting from the general incentive contract scheme having the fixed and variable parts of remuneration, it is proposed that differentiating the variable part of remuneration is sufficient to motivate bank managers to make fewer risky decisions. More precisely, the variable part of remuneration (e.g. the share of the bank’s profit) needs to be higher in proportion to the higher variance of outcome for the high -risk outcome case to stimulate a bank manager to opt for lower-risk decisions in place of higher-risk situations.
Working paper
Loginov K. arxiv.org. math. Cornell University, 2021
We prove that a finite 3-group in the Cremona group Cr_3(ℂ) can be generated by at most 4 elements. This provides the last missing piece in bounding the ranks of finite p-subgroups in the space Cremona group.
Working paper
Yuri Prokhorov. arxiv.org. math. Cornell University, 2011
We prove that for a Q-Gorenstein degeneration $X$ of del Pezzo surfaces, the number of non-Du Val singularities is at most $\rho(X)+2$. Degenerations with $\rho(X)+2$ and $\rho(X)+1$ non-Du Val points are investigated.
Working paper
Anastasia Suraeva, Stepanova A. N. Financial Economics. FE. Высшая школа экономики, 2019. No. 78/FE/2019.
Bank risk-taking behaviour is of significant interest for researches and policymakers because financial failures due to excessive risk in this sector can have severe consequences for the bank’s numerous stakeholders and for the macroeconomic system overall. A growing literature investigates the main factors contributing to “well above average” risk. In particular, this study explains risk strategies in firms taking into account the bounded rationality of corporate governance agents. On a panel dataset of 110 listed US banks in the period of 2011-2016 empirical evidence is provided that excessive risk-taking in banks arises from the cognitive bias of the overconfidence of CEO decision-making. The study also presents how the impact of an overconfident CEO on risk-taking is affected considering the interaction of CEO overconfidence with the board of directors. It was revealed that the CEO's positive influence on risk is moderated if the board is an effective monitoring mechanism with the presence of independent directors who are experts in the financial sphere.