Bayes estimatorIn estimation theory and decision theory, a Bayes estimator or a Bayes action is an estimator or decision rule that minimizes the posterior expected value of a loss function (i.e., the posterior expected loss). Equivalently, it maximizes the posterior expectation of a utility function. An alternative way of formulating an estimator within Bayesian statistics is maximum a posteriori estimation. Suppose an unknown parameter is known to have a prior distribution .
Maximum likelihood estimationIn statistics, maximum likelihood estimation (MLE) is a method of estimating the parameters of an assumed probability distribution, given some observed data. This is achieved by maximizing a likelihood function so that, under the assumed statistical model, the observed data is most probable. The point in the parameter space that maximizes the likelihood function is called the maximum likelihood estimate. The logic of maximum likelihood is both intuitive and flexible, and as such the method has become a dominant means of statistical inference.
Financial economicsFinancial economics is the branch of economics characterized by a "concentration on monetary activities", in which "money of one type or another is likely to appear on both sides of a trade". Its concern is thus the interrelation of financial variables, such as share prices, interest rates and exchange rates, as opposed to those concerning the real economy. It has two main areas of focus: asset pricing and corporate finance; the first being the perspective of providers of capital, i.e.
Maximum a posteriori estimationIn Bayesian statistics, a maximum a posteriori probability (MAP) estimate is an estimate of an unknown quantity, that equals the mode of the posterior distribution. The MAP can be used to obtain a point estimate of an unobserved quantity on the basis of empirical data. It is closely related to the method of maximum likelihood (ML) estimation, but employs an augmented optimization objective which incorporates a prior distribution (that quantifies the additional information available through prior knowledge of a related event) over the quantity one wants to estimate.
Projective spaceIn mathematics, the concept of a projective space originated from the visual effect of perspective, where parallel lines seem to meet at infinity. A projective space may thus be viewed as the extension of a Euclidean space, or, more generally, an affine space with points at infinity, in such a way that there is one point at infinity of each direction of parallel lines. This definition of a projective space has the disadvantage of not being isotropic, having two different sorts of points, which must be considered separately in proofs.
Closed-form expressionIn mathematics, an expression is in closed form if it is formed with constants, variables and a finite set of basic functions connected by arithmetic operations (+, −, ×, ÷, and integer powers) and function composition. Commonly, the allowed functions are nth root, exponential function, logarithm, and trigonometric functions . However, the set of basic functions depends on the context.
Thermodynamic processClassical thermodynamics considers three main kinds of thermodynamic process: (1) changes in a system, (2) cycles in a system, and (3) flow processes. (1)A Thermodynamic process is a process in which the thermodynamic state of a system is changed. A change in a system is defined by a passage from an initial to a final state of thermodynamic equilibrium. In classical thermodynamics, the actual course of the process is not the primary concern, and often is ignored.
Nonlinear systemIn mathematics and science, a nonlinear system (or a non-linear system) is a system in which the change of the output is not proportional to the change of the input. Nonlinear problems are of interest to engineers, biologists, physicists, mathematicians, and many other scientists since most systems are inherently nonlinear in nature. Nonlinear dynamical systems, describing changes in variables over time, may appear chaotic, unpredictable, or counterintuitive, contrasting with much simpler linear systems.
Process stateIn a system, processes may occupy a variety of states. These distinct states may not be recognized as such by the operating system kernel. However, they are a useful abstraction for the understanding of processes. The following typical process states are possible on computer systems of all kinds. In most of these states, processes are "stored" on main memory. When a process is first created, it occupies the "created" or "new" state. In this state, the process awaits admission to the "ready" state.
Algebraic torusIn mathematics, an algebraic torus, where a one dimensional torus is typically denoted by , , or , is a type of commutative affine algebraic group commonly found in projective algebraic geometry and toric geometry. Higher dimensional algebraic tori can be modelled as a product of algebraic groups . These groups were named by analogy with the theory of tori in Lie group theory (see Cartan subgroup). For example, over the complex numbers the algebraic torus is isomorphic to the group scheme , which is the scheme theoretic analogue of the Lie group .
