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Two Essays in Financial EconomicsGoss, Line Valerie 18 December 2014 (has links)
Chapter 1 of this study investigates the link between a firm’s capital structure and their industry competitive behavior. Given the competitive behavior in certain markets, Cournot or Bertrand, we investigate if there are any inborn characteristics of these markets’ competitive behavior that would create an incentive for Cournot firms to have a different strategic debt level than Bertrand firms. Related theories argue that any industry’s competitive behavior, whether it is Bertrand or Cournot would typically consist of a certain type of debt and pursue a certain type of competitive strategy, based on its classification. In this study, we investigate the debt level of a sample of firms classified into either Cournot or Bertrand competition, i.e. explore competitive behavior as a characteristic of firms that tend to be associated with different debt ratios and determine if the competitive market type does in fact lead to a varying debt ratio target. We used two different measures to categorize competition type, the CSM and the SI measure. Our findings indicate that there is no significant difference between differentiated debt levels between Bertrand and Cournot firms.
Chapter 2 of the study examines various factors that may affect American Depository Receipts’ trading volume distribution between their home and US markets. These include factors not previously considered in the extant literature. One such factor is the trading motive (hedging or speculative) of investors. Other factors examined include price impact, relative volatility, market to book ratio, as well as a cultural dimension factor: individualism. Controlling for time-specific effects, we find that the relative motive measure of cross-listed firms has a positive relationship on the trading volume distribution. In addition, when looking at a small sample of firms with different motive factors, we find that hedging motive in the home country leads to an increased proportion of trading in the host country relative to the home country, while speculative motive leads to a decrease in the volume share of the host country relative to the home country. A positive and significant relationship is also observed between volatility and the log of trading volume share. The relationship is negative for liquidity and visibility in relation to the trading volume distribution of cross-listed firm’s stocks. Culture difference at home relative to host is found to positively impact trading volume distribution of cross-listed stocks.
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Capacité de production et structure financière: utilisations stratégiques dans les jeux d'entrée.Laye, Maximilien 03 October 2006 (has links) (PDF)
La thèse se concentre sur la question des choix stratégiques dans les jeux d'entrée (choix de capacité de production par la firme en place ou l'entrant, et choix de structure financière par l'entrant). Le chapitre 1 est fondé sur l'analyse de Gelman-Salop (1983). Lorsque la firme en place anticipe l'entrée, on démontre qu'il n'y a pas de surcapacité à l'équilibre. Dans une première extension, après entrée, les firmes s'entendent sur leurs niveaux de production respectifs. Les firmes surinvestissent alors en capacité afin d'affaiblir la position de l'adversaire dans la négociation. Dans une seconde extension, en présence d'asymétrie d'information sur les coûts de production, un entrant efficace peut être conduit à surinvestir en capacité pour se signaler aux investisseurs. Le chapitre 2 caractérise la décision optimale en capacité d'une firme en place dans le cas d'une demande croissante. Stratégiquement, une surcapacité peut dans ce cas avoir un objectif double: d'une part de retarder (voire de barrer) l'entrée, et d'autre part d'induire une entrée moins agressive en capacité. Nous montrons que ces objectifs ne sont pas conciliables. Le chapitre 3 propose une théorie de l'endettement stratégique par l'entrant. La firme en place et l'entrant peuvent négocier la sortie de ce dernier, par exemple par le biais d'un rachat. En s'endettant, l'entrant s'engage crédiblement à une concurrence agressive (effet de la responsabilité limitée) en cas d'échec de la négociation, améliorant ainsi sa position durant celle-ci. Le chapitre 4 propose une solution au problème de concurrence à la Cournot sous contraintes de capacité, dans un cadre multi-firmes, multi-usines et multi-marchés.
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Lògica i fonaments: 1850-1920. Un estudi comparatiu de les contribucions del corrent algèbric i logicista a la lògica contemporàniaRoselló Moya, Joan 06 March 2003 (has links)
L'objectiu principal del nostre estudi ha estat, en primer lloc, fer una "història de la lògica" que abastés el període que va aproximadament des de mitjans del segle XIX, època en què Boole i De Morgan renoven la lògica tradicional, fins als anys vint del segle passat, quan la lògica de primer ordre es consolida com el llenguatge lògic "par excellence" i la concepció model-teorètica s'obre camí de forma inexorable. Segonament, el nostre objectiu ha estat fer un estudi comparatiu de les contribucions del corrent algèbric i logicista a la gènesi i desenvolupament de la lògica contemporània, particularment de la lògica de primer ordre i de la concepció model-teorètica predominant avui en dia. Al nostre parer, el naixement i desenvolupament de la lògica contemporània ha anat de bracet amb les recerques sobre els fonaments de les matemàtiques dutes a terme en el període estudiat, per la qual cosa el nostre objectiu ha estat finalment fer-nos ressó de l'estret lligam entre els problemes relatius a la fonamentació de les matemàtiques i les recerques lògiques pròpiament dites. D'acord amb tot l'anterior, hem dividit la nostra memòria en tres parts. Les dues primeres parts les hem dedicades respectivament a l'estudi del desenvolupament de la tradició algèbrica i logicista i estan dividides en diferents capítols, dedicat cada un d'ells als autors més representatius d'aquestes dos corrents: Boole, Peirce i Schröder, d'una banda, i Dedekind, Frege i Russell de l'altra. Finalment, la tercera part l'hem dedicada als desenvolupaments més importants que seguiren la publicació de l'obra de Whitehead i Russell Principia Mathematica (1910-1913) i que més influència tingueren, des del nostre punt de vista, en el desenvolupament posterior de la lògica, a saber, les recerques de Hilbert i la seva escola sobre l'aplicació del mètode axiomàtic a les diferents branques de les matemàtiques i, en particular, a la lògica, i les recerques model-teorètiques de Löwenheim i Skolem sobre el fragment de primer ordre de la lògica de relatius. Aquestes recerques tingueren efectivament una influència cabdal en la gènesi i desenvolupament de la lògica de primer ordre i la concepció model-teorètica predominant avui en dia, per la qual cosa el seu estudi presenta un indubtable interès històric i dóna, a més, una bona mesura de les contribucions de les tradicions algèbrica i logicista a la lògica contemporània i, en particular, de les limitacions que presenten en aquest sentit ambdues tradicions. Entre les contribucions més destacades del nostre estudi per tal de determinar quines han estat les aportacions dels diferents autors estudiats a la gènesi i desenvolupament de la lògica contemporània i la moderna concepció semàntica de la mateixa cal destacar, entre d'altres, l'estudi realitzat sobre l'evolució de la lògica de relatius i la lògica quantificacional -de primer i segon ordre- en l'obra de Peirce, l'estudi sobre les definicions dels principals conceptes semàntics -interpretació, conseqüència lògica, independència, etc.- en l'obra de Schröder, l'estudi sobre la gènesi i evolució del logicisme fregeà a partir de la seva tesi de doctorat (1873) i la seva Habilitationschrift (1874), una interpretació de la teoria ramificada de tipus de Russell que no és l'habitual en la historiografia clàssica (Copi, Quine, Kneale i Kneale et alia), l'estudi de la connexió de la problemàtica tractada en els escrits de Löwenheim i Skolem amb el programa de recerca iniciat per Peirce i Schröder i, finalment, l'estudi de l'evolució en el si de l'escola de Hilbert d'algunes de les idees bàsiques de la lògica contemporània i la moderna concepció model-teorètica de la mateixa a partir de l'estudi de les lliçons (inèdites) impartides per Hilbert a Göttingen els cursos de 1905 i 1917-18. / As its title indicates, this work intends to make a historical itinerary by some of the main developments that took place in the field of logic and the foundations of the mathematics between the second half of the 19th century and the first fourth of the 20th century approximately. Moreover, it pretends also to make a comparative study of the development of the algebraic and logicist traditions in this period that allows to gauge the contributions of each one of them to the genesis and development of contemporary logic and the modern model-theoretic conception of it. With this aim, the most highlighted contributions of our work are, among others, the study carried out about the evolution and relationship of the logic of relatives and quantificational logic -of first and second order- in Peirce's work, the research into the definitions of the main semantic concepts -interpretation, logical consequence, independence, etc- in Schröder's work, the study of the genesis and evolution of fregean logicism from his doctorate thesis (1873) and his "Habilitationschrift" (1874), an interpretation of Russell's theory of types which it is unusual in the classical historiography, the research into the connection of the problems treated in Löwenheim and Skolem writings with the program of research pioneered by Peirce and Schröder and, finally, the study of the evolution in the bosom of Hilbert's school of some of the main ideas of contemporary logic and metalogic from the study of the lessons (unedited) imparted by Hilbert in Göttingen in the courses of 1905 and 1917-18.
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L'espace et le fantastique : étude de la spatialisation dans quelques nouvelles fantastiques de Bertrand Bergeron, d'Hugues Corriveau et de Carmen MaroisBoyer, Marc, January 2004 (has links)
Thèses (M.A.)--Université de Sherbrooke (Canada), 2004. / Titre de l'écran-titre (visionné le 20 juin 2006). Publié aussi en version papier.
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The form of Wittgenstein's Tractatus with a new translation of Logisch-philosophische Abhandlung /Schmitt, Richard Henry. January 2000 (has links)
Thesis (Ph. D.)--University of Chicago, Committee on the History of Culture, March 2000. / Includes bibliographical references. Also available on the Internet.
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Making of a marshal Bertrand Clauzel takes command of the Army of Portugal, 1812 /Graceffo, Jeffrey. Horward, Donald D. January 1900 (has links)
Thesis (M.S.)--Florida State University, 2005. / Advisor: Dr. Donald Horward, Florida State University, College of Arts & Sciences, Dept. of History. Title and description from dissertation home page (viewed Sept. 15, 2005). Document formatted into pages; contains viii, 84 pages. Includes bibliographical references.
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The missal of Cardinal Bertrand de Deux a study in 14th-century Bolognese miniature painting /Cassee, Elly. January 1900 (has links)
Thesis (doctoral). / Includes indexes. Includes bibliographical references (p. 121-129).
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A comparison of excavation methods between the War Eagle and Bertrand steamboats /Marquardt, Ashley. January 2009 (has links)
Thesis (B.S.)--University of Wisconsin -- La Crosse, 2009. / Also available online. Includes bibliographical references (leaves 26-27).
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Uma filosofia do 'qualquer' : a gênese da primeira teoria da denotação de Bertrand RussellCorrêa, Cleber de Souza January 2010 (has links)
Esta dissertação tem um duplo objetivo. O primeiro deles — e o principal — é a tentativa de verificar uma hipótese acerca das razões de Bertrand Russell para conceber a sua primeira teoria da denotação, apresentada em The Principies of Mathematics (PoM). A teoria da denotação é urna explicação excepcional (no contexto da semântica de Russell) do significado de expressões denotativas da linguagem natural, expressões constituídas por alguma das seguintes seis palavras: "todo", "qualquer", "cada", "algum", "um"e "o"(ou suas declinações). Trata-se de apresentar a teoria de Russell como solução para um problema, e a hipótese que proponho é uma segundo a qual esse problema deriva da conjunção de três teses que Russell sustentava à época da publicação de PoM. Argumento que as ideias de Russell acerca da relação entre as expressões da linguagem natural e aquilo que lhes confere significado, da natureza dos constituintes do mundo e da relação entre mente e mundo no intercurso epistêmico formam um conjunto incompatível com a constatação trivial de que sentenças da linguagem natural que contêm expressões denotativas são inteligíveis. As ideias de Russell aludidas acima implicam que a inteligibilidade de uma expressão denotativa — e, de modo geral, de qualquer menor item semanticamente ativo de uma sentença da linguagem natural — requer a satisfação de duas condições: a existência de uma entidade no mundo que tal expressão representa e o vínculo epistêmico de contato entre o sujeito e tal entidade. A satisfação dessa dupla condição acarreta que, ao apreender o signifcado de uma expressão denotativa como, por exemplo, "todos os homens", eu estou em contato com todos os homens, o que, evidentemente, é impossível. Se o contato com aquilo que é o significado de um certo número de expressões denotativas é impossível (como no caso anterior), há que se postular um elemento semântico que não aquelas entidades no mundo, de modo que a inteligibilidade de tais expressões seja preservada. A teoria da denotação é esse postulado, e o elemento que medeia o vínculo entre a expressão denotativa e os objetos no mundo é o conceito denotativo. Pretendo também demonstrar que as ideias de Russell que conduzem ao problema acima noticiado sobrevivem ao abandono da teoria da denotação. Se é verdade que, a partir da publicação de On Denoting (OD), Russell adota uma perspectiva mais "desconfiada" acerca da transparência semântica da linguagem natural — o que implica a recusa da análise proposta em PoM, onde expressões denotativas são expressões às quais se pode legitimamente atribuir significado isoladamente —, também é verdade que Russell (i) continuará a pensar no funcionamento de linguagens logicamente mais nítidas à maneira antiga, segundo a qual o significado das expressões dessas linguagens reduz-se, em última análise, à satisfação das duas condições mencionadas no parágrafo anterior; (ii) permanecerá concebendo os constituintes do mundo, que conferem significado às expressões da linguagem, como entidades objetivas, no sentido de não serem constituídas pela atividade mental; e (iii) que continuará dentro de uma perspectiva epistemológica segundo a qual o vínculo epistêmico entre sujeito e mundo é de contato ou direto, isto é, não-mediado por ideias ou representações. / This thesis has two aims: the first and the main one is to try to verify an hypothesis concerning Bertrand Russell's reasons to frame his first theory of denoting, which he presents in The Principies of Mathematics (PoM). The theory of denoting is an anomalous (within Russell's semantics) account of the meaning of denoting expressions of natural language, expressions formed by any one of the six following words: "all", "any", "every", "some", "a"and "the". I present Russell's theory as a solution to a problem, and according to my hypothesis the problem arises from the conjunction of three theses Russell held at the time he wrote PoM. I argue that Russell's theses concerning (i) the relation between the expressions of natural language and their meanings, (ii) the nature of the constituents of the world and (iii) the epistemic relation between mind and world are incompatible with the statement that sentences containing denoting expressions are intelligible or meaningful. Russell's ideas imply that understanding the meaning of a denoting expression — and understanding the meaning of any of the shortest semantically active expressions of language — requires two conditions to be satisfied: there must exist some entity in the world that the expression stands for and there must be a direct epistemic relation between the mind and this entity. If both conditions are to be satisfied, it must be the case that as I apprehend the meaning of a denoting expression like "all men", for example, I am in a direct epistemic relation, acquaintance, with ali men, which is clearly impossible. If acquaintance with the meaning of a certain class of expressions is impossible (as in the example above), a propositional constituent other than the denoted entity must be posited, such that it will account for the expressions' meaningfulness. Russell's first theory of denoting is grounded in the postulate according to which there are such constituents, the "denoting concepts", bridging the gap between denoting expressions and entities in the world. The second aim of the thesis is to provide evidence of the preservation of the abovementioned ideas in Russell's thought after his abandonment of the theory of denoting. Although it is certainly true that after On Denoting (OD) Russell grows increasingly suspicious about the "transparency"of natural language — which implies the departure from the PoM style of semantic analysis, according to which denoting expressions have meaning in isolation it is nevertheless true that Russell keeps thinking that (i) the meaning of an expression in a logically adequate language is secured by the satisfaction of the two conditions mentioned in the preceding paragraph; (ii) the constituents of the world are objective, in the sense that they are not the outcome of the "work of the mind"; and (iii) the basic epistemic relation between mind and world is that of acquaintance, i. e., it is not mediated by ideas or representations.
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A imagem poética grotesca no imaginário medievalista de Gaspard de la nuitSilva, Matheus Victor [UNESP] 21 May 2015 (has links) (PDF)
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000846831.pdf: 913168 bytes, checksum: 81a68379389118e1f165ec42ded8426c (MD5) / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES) / Gaspard de la Nuit, obra póstuma de Aloysius Bertrand, ficou por muito tempo desconhecido do público em geral antes que os estudos em torno de sua forma poética lhe restituíssem a devida importância. Contudo, só atualmente têm surgido análises que versam a respeito de sua temática, não menos complexa do que os meandros do poema em prosa. O medievalismo de Bertrand, dessa forma, mostra-se muito mais rico do que aquele que entrara em voga na década de 1830 na França, não só pela riqueza de detalhes (muito longe de um simples pitoresco), mas sobretudo pela forma como se dispõem através de sua imagética. A forte presença de tensões em todos os níveis do poema bertrandiano levou-nos ao estudo mais apurado do caráter grotesco nas suas imagens poéticas. Considerando os diversos estudos teóricos acerca do grotesco, buscamos destacar a sua significação tanto no Romantismo quanto na Idade Média (antes mesmo da existência do termo), visando sua confluência no Gaspard, de forma a compreender como as dissonâncias do grotesco permitem ao poeta o restabelecimento de uma realidade plena / Gaspard de la Nuit, posthumous work of Aloysius Bertrand, was for a long time unknown to the public before the studies around his poetic form restituted its adequate importance. However, only today emerged analyzes that talk specifically about its theme, not less complex than the prose poem's intricacies. Bertrand's medievalism shows up much richer than the form that come into vogue in the 1830s in France, not only by the richness of detail (far from a simple form of picturesque), but especially by the way they feature through his imagery. The strong presence of tensions at all levels of Bertrand's poem took us to an accurate study of the grotesque character of his poetic images. Considering the many theoretical studies about the grotesque, we seek to highlight its significance both in Romanticism as in the Middle Ages (when the term do not exist), to its confluence in Gaspard, in order to understand how the grotesque's dissonance allow the poet the reestablishment of a plenary reality
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