Fly-Swat or Cannon? Cost-Effective Language Model Choice via Meta-Modeling
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Electronic sharing markets are contributing to a paradigm shift, from consuming products to accessing products. This paper studies the effects of sharing markets on the prices for new products and on product design in terms of durability. In a dynamic econ ...
We introduce a new method to price American options based on Chebyshev interpolation. In each step of a dynamic programming time-stepping we approximate the value function with Chebyshev polynomials. The key advantage of this approach is that it allows us ...
Electric buses are particularly suitable for city and suburban routes due to zero local exhaust and noise emissions. The operation schedule interval defines the charging power, bus fleet size and total cost of ownership of a bus. We propose a novel cost-be ...
Precision medicine holds the promise of bringing the right treatment to the right patient at the right time with the upside of reduced undesirable effects. But the impact on healthcare costs are not clear. While targeting of conventional drugs through prec ...
This thesis develops equilibrium models, and studies the effects of market frictions on risk-sharing, derivatives pricing, and trading patterns.In the chapter titled "Imbalance-Based Option Pricing", I develop an equilibrium model of fragmented options m ...
Coordinate descent methods usually minimize a cost function by updating a random decision variable (corresponding to one coordinate) at a time. Ideally, we would update the decision variable that yields the largest decrease in the cost function. However, f ...
The popularity and applicability of mobile crowdsensing applications are continuously increasing due to the widespread of mobile devices and their sensing and processing capabilities. However, we need to offer appropriate incentives to the mobile users who ...
This study analyzes carpool in morning commute, using a bottleneck model that allocates a fraction of the bottleneck capacity to a high-occupancy-vehicle (HOV) or a high-occupancy-toll (HOT) lane. Commuters are homogeneous cost minimizers who participate c ...
When activist shareholders file Schedule 13D filings, the average excess return on target stocks is 6% and stock price volatility drops by about 10%. Prior to filing days, volatility (price) information is reflected in option (stock) prices. Using a compre ...
Fatigue safety verification of existing bridges that uses ‘‘re-calculation’’ based on codes, usually results in insufficient fatigue safety, triggering invasive interventions. Instead of “re-calculation”, Structural Health Monitoring (SHM) should be used f ...