The author's preface gives an outline: "This book is about weakconvergence methods in metric spaces, with applications sufficient to show their power and utility. The Introduction motivates the definitions and indicates how the theory will yield solutions to problems arising outside it. Chapter 1 sets out the basic general theorems, which are then specialized in Chapter 2 to the space C[0, l ] of continuous functions on the unit interval and in Chapter 3 to the space D [0, 1 ] of functions with discontinuities of the first kind. The results of the first three chapters are used in Chapter 4 to derive a variety of limit theorems for dependent sequences of random variables. " The book develops and expands on Donsker's 1951 and 1952 papers on the invariance principle and empirical distributions. The basic random variables remain real-valued although, of course, measures on C[0, l ] and D[0, l ] are vitally used. Within this framework, there are various possibilities for a different and apparently better treatment of the material. More of the general theory of weak convergence of probabilities on separable metric spaces would be useful. Metrizability of the convergence is not brought up until late in the Appendix. The close relation of the Prokhorov metric and a metric for convergence in probability is (hence) not mentioned (see V. Strassen, Ann. Math. Statist. 36 (1965), 423-439; the reviewer, ibid. 39 (1968), 1563-1572). This relation would illuminate and organize such results as Theorems 4.1, 4.2 and 4.4 which give isolated, ad hoc connections between weak convergence of measures and nearness in probability. In the middle of p. 16, it should be noted that C*(S) consists of signed measures which need only be finitely additive if 5 is not compact. On p. 239, where the author twice speaks of separable subsets having nonmeasurable cardinal, he means "discrete" rather than "separable." Theorem 1.4 is Ulam's theorem that a Borel probability on a complete separable metric space is tight. Theorem 1 of Appendix 3 weakens completeness to topological completeness. After mentioning that probabilities on the rationals are tight, the author says it is an

Convergence of probability measures

In the Hamadryas baboon, males are substantially larger than females. A troop of baboons is subdivided into a number of ‘one-male groups’, consisting of one adult male and one or more females with their young. The male prevents any of ‘his’ females from moving too far from him. Kummer (1971) performed the following experiment. Two males, A and B, previously unknown to each other, were placed in a large enclosure. Male A was free to move about the enclosure, but male B was shut in a small cage, from which he could observe A but not interfere. A female, unknown to both males, was then placed in the enclosure. Within 20 minutes male A had persuaded the female to accept his ownership. Male B was then released into the open enclosure. Instead of challenging male A , B avoided any contact, accepting A’s ownership.

Evolution and the Theory of Games

This text offers a systematic, rigorous, and unified presentation of evolutionary game theory, covering the core developments of the theory from its inception in biology in the 1970s through recent advances. Evolutionary game theory, which studies the behavior of large populations of strategically interacting agents, is used by economists to make predictions in settings where traditional assumptions about agents' rationality and knowledge may not be justified. Recently, computer scientists, transportation scientists, engineers, and control theorists have also turned to evolutionary game theory, seeking tools for modeling dynamics in multiagent systems. Population Games and Evolutionary Dynamics provides a point of entry into the field for researchers and students in all of these disciplines. The text first considers population games, which provide a simple, powerful model for studying strategic interactions among large numbers of anonymous agents. It then studies the dynamics of behavior in these games. By introducing a general model of myopic strategy revision by individual agents, the text provides foundations for two distinct approaches to aggregate behavior dynamics: the deterministic approach, based on differential equations, and the stochastic approach, based on Markov processes. Key results on local stability, global convergence, stochastic stability, and nonconvergence are developed in detail. Ten substantial appendixes present the mathematical tools needed to work in evolutionary game theory, offering a practical introduction to the methods of dynamic modeling. Accompanying the text are more than 200 color illustrations of the mathematics and theoretical results; many were created using the Dynamo software suite, which is freely available on the author's Web site. Readers are encouraged to use Dynamo to run quick numerical experiments and to create publishable figures for their own research.

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Population Games and Evolutionary Dynamics

Feel lonely? What about reading books? Book is one of the greatest friends to accompany while in your lonely time. When you have no friends and activities somewhere and sometimes, reading book can be a great choice. This is not only for spending the time, it will increase the knowledge. Of course the b=benefits to take will relate to what kind of book that you are reading. And now, we will concern you to try reading models of man as one of the reading material to finish quickly.

Models of man

This article provides a review of recent progress in understanding and predicting polymer drag reduction (DR) in turbulent wall-bounded shear flows. The reduction in turbulent friction losses by the dilute addition of high–molecular weight polymers to flowing liquids has been extensively studied since the phenomenon was first observed over 60 years ago. Although it has long been reasoned that the dynamical interactions between polymers and turbulence are responsible for DR, it was not until recently that progress had been made to begin to elucidate these interactions in detail. These advancements come largely from numerical simulations of viscoelastic turbulent flows and detailed turbulence measurements in flows of dilute polymer solutions using laser-based optical techniques. This review presents a selective overview of the current state of the numerics and experimental techniques and their impact on understanding the mechanics and prediction of polymer DR. It includes a discussion of areas in which our ...

Mechanics and Prediction of Turbulent Drag Reduction with Polymer Additives

The FENE-P dumbbell, that is, the finitely extensible non-linear elastic dumbbell with the Peterlin approximation, has been used extensively to describe the rheological behavior of dilute polymer solutions. The model is, however, severely limited, since it cannot describe the broad distribution of relaxation times that real polymer molecules possess. Hence, it is important to extend the model to a chain of finitely extensible springs. The FENE-P chain, however, has not been as widely used, presumably because of the large number of coupled equations that must be solved simultaneously in order to calculate the stress tensor. We present here a new model, the FENE-PM chain, as an alternative to the FENE-P chain. The stress tensor for the FENE-PM chain is calculated from a much smaller set of equations than the FENE-P and at the same time yields nearly the same results for the material properties in shear and elongational flow as the FENE-P. The reduced number of equations greatly expedites calculations for longer chains.

A finitely extensible bead-spring chain model for dilute polymer solutions

We study the short time behavior of the early exercise boundary for American style put options in the Black--Scholes theory. We develop an asymptotic expansion which shows that the simple lower bound of Barles et al. is a more accurate approximation to the actual boundary than the more complex upper bound. Our expansion is obtained through iteration using a boundary integral equation. This integral equation is derived from the time derivative of the option value function, which closely resembles the classical Stefan free boundary value problem for melting ice. Our analytical results are supported by numerical computations designed for very short times.

On the early exercise boundary of the american put option

We discuss optimal trading strategies for general utility functions in portfolios of cash and stocks subject to small proportional transaction costs. We present a new interpretation of scalings found by Soner, Shreve, and others. To leading order in the small transaction cost parameter, the free boundary problem for the expected utility's value function is shown to be dual, in the sense of Lagrange multipliers for optimal design problems, to a free boundary problem minimizing a cost function. This cost function is the sum of a boundary integral corresponding to the rate of trading and an interior integral corresponding to opportunity loss that results from suboptimal portfolio allocation. Using the dual problem's formulation, we show that the quasi-steady state probability density of the optimal portfolio is uniform for a single stock but generally blows up even in the simple case of two uncorrelated stocks.

Daniel N. Ostrov

Papers

A finitely extensible bead-spring chain model for dilute polymer solutions

On the early exercise boundary of the american put option

Balancing Small Transaction Costs with Loss of Optimal Allocation in Dynamic Stock Trading Strategies

Conspicuous consumption dynamics

Solutions of Hamilton–Jacobi Equations and Scalar Conservation Laws with Discontinuous Space–Time Dependence