Instituto Tecnológico Autónomo de México

About: Instituto Tecnológico Autónomo de México is a education organization based out in Mexico City, Mexico. It is known for research contribution in the topics: Politics & Population. The organization has 1098 authors who have published 2532 publications receiving 39083 citations. The organization is also known as: Instituto Tecnologico Autonomo de Mexico & Mexico Autonomous Institute of Technology.

Valuation by Simulation of Contingent Claims with Multiple Early Exercise Opportunities

Abstract: This paper introduces the application of Monte Carlo simulation technology to the valuation of securities that contain many (buying or selling) rights, but for which a limited number can be exercised per period, and penalties if a minimum quantity is not exercised before maturity. These securities combine the characteristics of American options, with the additional constraint that only a few rights can be exercised per period and therefore their price depends also on the number of living rights (i.e., American-Asian-style payoffs), and forward securities. These securities give flexibility-of-delivery options and are common in energy markets (e.g., take-or-pay or swing options) and as real options (e.g., the development of a mine). First, we derive a series of properties for the price and the optimal exercise frontier of these securities. Second, we price them by simulation, extending the Ibanez and Zapatero (2004) method to this problem.

Human capital and sustainable competitive advantage: an analysis of the relationship between training and performance

Abstract: This article analyses the importance of training as a creator of human capital, which enables a company to obtain competitive advantages that are sustainable in the long-term that result in greater profitability The study is based on the general theoretical framework of resource and capacity theory The study not only analyses the impact of the influence of training on performance; it also attempts to analyse the nature of such a relationship in greater depth This being the case, an attempt has been made to measure explanatory capacity from two different perspectives: the universalistic approach and the contingent approach At the outset, two hypotheses are formulated that attempt to quantify the relationship from a universalistic perspective to later, in two more hypotheses, incorporate the potential moderating effect of the strategy into the model, in order to verify whether or not this strategy improves the explanatory power of our model of analysis

Classification of anatomical structures in mr brain images using fuzzy parameters

Abstract: We present an algorithm that automatically segments and classifies the brain structures in a set of magnetic resonance (MR) brain images using expert information contained in a small subset of the image set. The algorithm is intended to do the segmentation and classification tasks mimicking the way a human expert would reason. The algorithm uses a knowledge base taken from a small subset of semiautomatically classified images that is combined with a set of fuzzy indexes that capture the experience and expectation a human expert uses during recognition tasks. The fuzzy indexes are tissue specific and spatial specific, in order to consider the biological variations in the tissues and the acquisition inhomogeneities through the image set. The brain structures are segmented and classified one at a time. For each brain structure the algorithm needs one semiautomatically classified image and makes one pass through the image set. The algorithm uses low-level image processing techniques on a pixel basis for the segmentations, then validates or corrects the segmentations, and makes the final classification decision using higher level criteria measured by the set of fuzzy indexes. We use single-echo MR images because of their high volumetric resolution; but even though we are working with only one image per brain slice, we have multiple sources of information on each pixel: absolute and relative positions in the image, gray level value, statistics of the pixel and its three-dimensional neighborhood and relation to its counterpart pixels in adjacent images. We have validated our algorithm for ease of use and precision both with clinical experts and with measurable error indexes over a Brainweb simulated MR set.

Subverting Democracy: Elite Rule and the Limits to Political Participation in Post-War El Salvador

Abstract: After decades of authoritarianism and a twelve-year civil war ended by a negotiated peace agreement in 1992, El Salvador is a markedly different country. Despite important changes, however, public institutions have remained largely unresponsive, acute social exclusion persists and violent crime has soared. Rather than the possibly inevitable by-products of a post-conflict situation, these and other developments are the consequences of a regression from an incipient electoral democracy to electoral authoritarianism. The elite-controlled Alianza Republicana Nacionalista (ARENA) party had more to gain from the preservation of the status quo than from democratic changes and only accepted a politically inclusive system to restore the oligarchy's dominant position through electoral politics. Uncommitted to democratic consolidation, successive ARENA administrations maintained an institutional facade of democracy to reproduce authoritarian governance and defend elite interests.