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Record W4399806168 · doi:10.32920/26064085

Automatic Continuities of Law-Invariant Risk Measures

2024· preprint· en· W4399806168 on OpenAlexaff
Shengzhong Chen

Bibliographic record

Venuenot available
Typepreprint
Languageen
FieldEconomics, Econometrics and Finance
TopicCredit Risk and Financial Regulations
Canadian institutionsToronto Metropolitan University
Fundersnot available
KeywordsInvariant (physics)Political scienceLawMathematicsMathematical physics

Abstract

fetched live from OpenAlex

<p>In this thesis, we investigate the automatic continuity properties of law-invariant risk measures on general model spaces. In Chapter 2, we study automatic order lower semi-continuity of law-invariant risk measures, which is usually termed as the Fatou property in the literature. Let X be a rearrangement-invariant space other than L∞ over a non-atomic probability space. We show that every real-valued, law-invariant, coherent risk measure automatically has the Fatou property at every random variable X ∈ X whose negative tails have vanishing norm (i.e., limn∥X1{X≤−n}∥ = 0) if and only if X satisfies the Almost Order Continuous Equidistributional Average (AOCEA) property, namely, d(CL(X), Xa) = 0 for any nonnegative random variable X ∈ X , where CL(X) is the convex hull of all random variables having the same distribution as X and Xa = { X ∈ X : limn∥X1|X|≥n∥ = 0 } . We also show that the AOCEA property is satisfied by most classical model spaces, including Orlicz spaces. In Chapter 3, we first show that on an r.i. space with the AOCEA property, every real-valued, law-invariant, coherent risk measure is automatically σ(X , X ′ )-lower semicontinuity at every random variable X ∈ X whose negative tails have vanishing norm. Here X ′ is the associated space of X . We also recover a local version of the Fenchel-Moreau Duality and apply it to establish automatic dual representations of risk measures. Finally, in Chapter 4, we apply our results to study when law-invariant bounded linear functionals automatically collapse to the mean, i.e., being scalar multiples of the expectation. We show that on every r.i. space with the AOCEA property, a bounded law-invariant linear functional collapses to the mean. We also construct an r.i. space on which a bounded law-invariant linear functional may fail to collapse to the mean and thus the space fails the AOCEA property. The thesis is based on [10, 11].</p>

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How this classification was reachedexpand

Full frame distilled prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.

metaresearch head score (Codex)0.001
metaresearch head score (Gemma)0.000
Version: codex-gemma-dda1882f352aValidation status: machine_predicted_unvalidated
Candidate categoriesMeta-epidemiology (narrow)
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Theoretical or conceptual · Consensus signal: Theoretical or conceptual
GenreCandidate signal: Empirical · Consensus signal: Empirical
Teacher disagreement score0.498
Threshold uncertainty score1.000

Codex and Gemma teacher scores by category

CategoryCodexGemma
Metaresearch0.0010.000
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0010.000
Bibliometrics0.0000.000
Science and technology studies0.0000.000
Scholarly communication0.0000.000
Open science0.0000.001
Research integrity0.0000.001
Insufficient payload (model declined to judge)0.0010.001

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.039
GPT teacher head0.233
Teacher spread0.194 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one teacher head, not a consensus.

Study designTheoretical or conceptual
Domainnot available
GenreEmpirical

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations0
Published2024
Admission routes1
Has abstractyes

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