Approximate knowledge of rationality and correlated equilibria

We extend Aumann's [3] theorem deriving correlated equilibria as a consequence of common priors and common knowledge of rationality by explicitly allowing for non-rational behavior. We replace the assumption of common knowledge of rationality with a substantially weaker notion, joint p-belief of rationality, where agents believe the other agents are rational with probabilities p = (pi)i2I or more. We show that behavior in this case constitutes a constrained correlated equilibrium of a doubled game satisfying certain p-belief constraints and characterize the topological structure of the resulting set of p-rational outcomes. We establish continuity in the parameters p and show that, for p su ciently close to one, the p-rational outcomes are close to the correlated equilibria and, with high probability, supported on strategies that survive the iterated elimination of strictly dominated strategies. Finally, we extend Aumann and Dreze's [4] theorem on rational expectations of interim types to the broader p-rational belief systems, and also discuss the case of non-common priors.

Forward-looking Pairwise Stability in Networks with Externalities

We consider cooperation situations where players have network relations. Networks evolve according to a stationary transition probability matrix and at each moment in time players receive payoffs from a stationary allocation rule. Players discount the future by a common factor. The pair formed by an allocation rule and a transition probability matrix is called a forward-looking network formation scheme if, first, the probability that a link is created is positive if the discounted, expected gains to its two participants are positive, and if, second, the probability that a link is eliminated is positive if the discounted, expected gains to at least one of its two participants are positive. The main result is the existence, for all discount factors and all value functions, of a forward-looking network formation scheme. Furthermore, we can always nd a forward-looking network formation scheme such that (i) the allocation rule is component balanced and (ii) the transition probabilities increase in the di erence in payo s for the corresponding players responsible for the transition. We use this dynamic solution concept to explore the tension between e ciency and stability.

Query-by-Example Spoken Term Detection ALBAYZIN 2012 evaluation: overview, systems, results, and discussion

Query-by-Example Spoken Term Detection (QbE STD) aims at retrieving data from a speech data repository given an acoustic query containing the term of interest as input. Nowadays, it has been receiving much interest due to the high volume of information stored in audio or audiovisual format. QbE STD differs from automatic speech recognition (ASR) and keyword spotting (KWS)/spoken term detection (STD) since ASR is interested in all the terms/words that appear in the speech signal and KWS/STD relies on a textual transcription of the search term to retrieve the speech data. This paper presents the systems submitted to the ALBAYZIN 2012 QbE STD evaluation held as a part of ALBAYZIN 2012 evaluation campaign within the context of the IberSPEECH 2012 Conference(a). The evaluation consists of retrieving the speech files that contain the input queries, indicating their start and end timestamps within the appropriate speech file. Evaluation is conducted on a Spanish spontaneous speech database containing a set of talks from MAVIR workshops(b), which amount at about 7 h of speech in total. We present the database metric systems submitted along with all results and some discussion. Four different research groups took part in the evaluation. Evaluation results show the difficulty of this task and the limited performance indicates there is still a lot of room for improvement. The best result is achieved by a dynamic time warping-based search over Gaussian posteriorgrams/posterior phoneme probabilities. This paper also compares the systems aiming at establishing the best technique dealing with that difficult task and looking for defining promising directions for this relatively novel task.

Climate Change, Responsibilities, and Defeatism and Complacency

16 p.

Análisis del riesgo de contraparte a través del modelo estructural de Merton en el marco de Solvencia II

[ES] La entrada en vigor del proyecto de Solvencia II transformará por completo el sistema de determinación de las necesidades de capital del sector asegurador europeo. Recientemente se ha presentado el último estudio de impacto cuantitativo (QIS5), donde se establece la forma de cálculo del modelo estándar para la determinación de los requerimientos de capital. Este trabajo trata de analizar la adecuación de la calibración del riesgo de crédito de la contraparte mediante los modelos que se proponen en los últimos informes de impacto cuantitativo (cuarto y quinto). Para ello comparamos las necesidades de capital que se obtienen por ambas alternativas, frente a las que resultarían de aplicar un modelo de simulación basado en el enfoque estructural. Los resultados obtenidos muestran que el uso de probabilidades basadas en la metodología de Merton frente a aquellas basadas en ratings, dan lugar a requerimientos de capital sustancialmente mayores. Además, el modelo propuesto en QIS4 basado en la distribución de Vasicek no es adecuado cuando el número de contrapartes es reducido, situación habitual en el sector asegurador europeo. Por otra parte, la nueva propuesta (QIS5 o modelo de Ter Berg) es más versátil y adecuada que su antecesora pero requiere analizar con más detenimiento las hipótesis de calibración para de este modo aproximar mejor las estimaciones al riesgo realmente asumido.

Distributional semantics and machine learning for statistical machine translation

[EU]Lan honetan semantika distribuzionalaren eta ikasketa automatikoaren erabilera aztertzen dugu itzulpen automatiko estatistikoa hobetzeko. Bide horretan, erregresio logistikoan oinarritutako ikasketa automatikoko eredu bat proposatzen dugu hitz-segiden itzulpen- probabilitatea modu dinamikoan modelatzeko. Proposatutako eredua itzulpen automatiko estatistikoko ohiko itzulpen-probabilitateen orokortze bat dela frogatzen dugu, eta testuinguruko nahiz semantika distribuzionaleko informazioa barneratzeko baliatu ezaugarri lexiko, hitz-cluster eta hitzen errepresentazio bektorialen bidez. Horretaz gain, semantika distribuzionaleko ezagutza itzulpen automatiko estatistikoan txertatzeko beste hurbilpen bat lantzen dugu: hitzen errepresentazio bektorial elebidunak erabiltzea hitz-segiden itzulpenen antzekotasuna modelatzeko. Gure esperimentuek proposatutako ereduen baliagarritasuna erakusten dute, emaitza itxaropentsuak eskuratuz oinarrizko sistema sendo baten gainean. Era berean, gure lanak ekarpen garrantzitsuak egiten ditu errepresentazio bektorialen mapaketa elebidunei eta hitzen errepresentazio bektorialetan oinarritutako hitz-segiden antzekotasun neurriei dagokienean, itzulpen automatikoaz haratago balio propio bat dutenak semantika distribuzionalaren arloan.