The concept of consensus filters for sensor fusion is not an entirely new proposition but one with an internally implemented Bayesian fusion is. This work documents a novel state update algorithm for sensor fusion which works using the principle of Bayesian fusion of data with variance implemented on a single integrator consensus algorithm. Comparative demonstrations of how consensus over a pinning network is reached are presented along with a weighted Bayesian Luenberger type observer and a ’Consensus on estimates’ algorithm. This type of a filter is something that is novel and has not been encountered in previous literature related to this topic to the best of our knowledge. In this work, we also extend the proof for a distributed Luenberger type observer design to include the case where the network being considered is a strongly connected digraph.

Bakgrund: För att förklara olika händelser på den finansiella marknaden använder sig många forskare av aktiemarknadspsykologi med bakgrund i att aktörerna är människor. Konsensus är aktieanalytikers sammanställda estimat som ska motsvara marknadens aggregerade, fundamentala förväntningar. Det faktum att aktieanalytiker är människor gör att även dessa influeras av psykologi, vilket i sin tur både påverkar konsensus, investerare och till slut även marknaden. Syfte: Syftet med denna uppsats är att analysera och belysa vad som ligger bakom konsensusestimaten för att sedan kunna redogöra för hur aktörer på aktiemarknaden kan förhålla sig till detta. Fokus kommer att ligga på faktorer som, till skillnad från fundamentala och tekniska analyser, har sin utgångspunkt i aktiemarknadspsykologi. Metod: Med en kvalitativ ansats genomfördes intervjuer med tio olika aktieanalytiker. Intervjuerna ligger sedan till grund för analysen där den teoretiska referensramen bestående av aktiemarknadspsykologiska faktorer användes för att dra slutsatser. Slutsats: Resultatet visar på att konsensus inte fullt motsvarar aktieanalytikernas egentliga åsikter och att investerare och analytiker därför snarare bör förhålla sig till konsensus som en referenspunkt än som en riktlinje för investeringar. / Background: To explain certain events that transpires on the stock market a lot of scientists use behavioral finance. They use this due to the fact that the market participants are human after all. Consensus estimates is the compiled estimates of sell side analyst which is supposed to be equivalent to the markets fundamental expectations. The fact that sell side analysts are human infers that they also get influenced by psychology, which in turn affect consensus, investors and lastly the market. Purpose: The purpose of this paper is to analyze and shed light on the elements that affect consensus estimates to clarify how stock market participants can relate to them. The focus will be on elements that, unlike fundamental and technical analysis, originates from behavioral finance. Method: Ten different stock analysts have been interviewed with a qualitative research approach. The interviews then acted as a basis for the analysis where the theory, originating from behavioral finance, is used to come to a conclusion. Conclusion: In conclusion, the result exhibits proof that consensus estimates doesn’t, to a full extent, truly reflect the sell side analysts’ true beliefs. Investors and other stock analysts should therefore relate to consensus as a reference point rather than a guideline for investment decisions.

Le principe de subsidiarité, en droit de la Convention européenne, est un principe empreint d’ambiguïtés. D’origine prétorienne, il ne fait l’objet d’aucune définition formelle dans les textes ou la jurisprudence afférente et se voit ainsi marqué d’une indétermination sémantique et juridique certaine. Doté d’une double dimension à la fois procédurale et matérielle, il n’en reste pas moins un principe fondamental du droit européen, un principe qui structure, d’une part, l’organisation et le fonctionnement même du système et guide, d’autre part, l’interprétation et le contrôle du juge de Strasbourg. Parce que naturellement ambigu mais néanmoins directeur du droit européen, le principe de subsidiarité se présente donc comme un principe souple et malléable, par conséquent, adaptable. L’analyse de sa mise en oeuvre dans la jurisprudence européenne met ainsi en exergue l’inconstance et la variabilité d’application du principe, à la libre disposition du juge strasbourgeois. Mais analysée à la lumière du contexte actuel d’un engorgement sans précédent du système et donc d’une réaffirmation urgente de son caractère subsidiaire, l’utilisation fluctuante du principe s’apprécie sous un jour nouveau, visant à faire de la subsidiarité un principe non plus garant des libertés nationales mais désormais source d’un encadrement de celles-ci. Parce que moteur d’une responsabilisation accrue des Etats membres, le principe de subsidiarité apparaît donc comme une pièce maîtresse de la politique jurisprudentielle du juge européen. / As part of the European Convention, the principle of subsidiarity is marked by ambiguity. Originating from judges, it has not been formally defined in legal texts nor in any related jurisprudence and is therefore characterized by a semantic and legal indeterminacy. Featuring both a procedural and a tangible dimension, it remains a fundamental principle of European law. On the one hand, it structures, the system’s organization and operations. On the other hand, it guides the court of Strasbourg’s interpretation and review. Naturally ambiguous but still guiding European law, the principle of subsidiarity is presented as a flexible and malleable principle, and therefore adaptable. The analysis of its implementation in the European jurisprudence highlights its inconsistency and variability at the free disposal of the court of Strasbourg. However, in the light of the current context of an unprecedented saturation of the system and therefore of an urgent reassertion of its subsidiary nature, a fluctuating use of the principle is assessed differently to make it not a guarantee of national liberties, but a guide for them. As a driving force for increased accountability of member states, the principle of subsidiarity appears to be essential to the judicial policy of the European court.

The main objective of this study is to analyse Trade Policy of PRC in Sub-Saharan Africa in a comparison with an approach of western countries. Moreover describe causes of dynamically developing Sino-African cooperation in last fifteen years, when China became a strategic business partner of many countries in the region at the expense of western countries which in the past represented traditional business partners of Sub-Saharan countries. First part describes period of economic reforms in China which started remarkable economic growth and helped the country to become one of the world trade superpowers. Then it defines characteristics of Sub-Saharan Africa which influence international trade relations of the region, both in a positive and negative way. Second part summarize trade between Sub-Saharan Africa and China describing history of trade relations and current territorial and commodity structure of the trade. Third part analyses PRC Trade Policy in Sub-Saharan Africa which is based on principles of Beijing Consensus. This part provides a comparison of different approach of China and western countries (their approach is based on Washington Consensus) towards their business partner in Sub-Saharan Africa. Afterwards, it summarizes different tools of China's trade policy in this region, which are then demonstrated on case studies of Angola and Nigeria.

The objective of my master's thesis, "Sino-American Ideological Clash: Washington Consensus and Beijing Consensus" is to consider two models of economic development, the Washington Consensus and the Beijing consensus. In the first part, I analyze the discourse that evolves around these two concepts, and I also consolidate the definitions of these terms. Washington Consensus was a set of specific rules for macroeconomic policy of the state. As a result of the ending Cold War, the discrediting of alternative models of economic development and direct link of this model to the financial support from international financial institutions, the popularity of the Washington consensus in the 1990s soared. The democratization of the country was perceived as another unwritten rule. In the wake of the Asian financial crisis of 1997, as well as other crises in developing countries which actively engaged the World Bank and IMF, the term has been largely discredited. It was associated with concepts like 'shock therapy', 'neoliberalism' or 'market fundamentalism'. Meanwhile, the long-term economic growth of China drew the attention of developing countries. In connection with the declining popularity of the Washington Consensus and the global economic crisis, the demand for alternative development policies increased. The...

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This thesis targets at providing an algebraic method to indicate network behaviors. Furthermore, for a signed-average consensus problem of the system behaviors, event-triggering signed-average algorithms are designed to reduce the communication overheads. In Chapter 1, the background is introduced, and the problem is formulated. In Chapter 2, notations and basics of graph theory are presented. It is known that the terminal value of the system state is determined by the initial state, left eigenvector and right eigenvector associated with zero eigenvalue of the Laplacian matrix. Since there is no mathematical expression of right eigenvector, in Chapter 3, mathematical expression of right eigenvector is given. In Chapter 4, algebraic trait for structurally balanced property of a node is proposed. In Chapter 5, a method for characterization of collective behaviors under directed signed networks is developed. In Chapter 6, dynamic event-triggering signed-average algorithms are proposed and proved for the purpose of relieving the communication burden between agents. Chapter 7 summarizes the thesis and gives future directions.

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Average consensus is a fundamental concept in distributed computing, where distributed agents exchange messages in order to obtain the average of their ini- tial values without relying on a centralized computing unit. However, achiev- ing average consensus in the presence of communication imperfections, such as quantization and random link or node failures, becomes more challenging. This thesis evaluates various average consensus algorithms regarding their ability to mitigate quantization effects and explores node dropout for reducing communi- cation cost per iteration. It also identifies the conditions required for achieving average consensus in both scenarios.  The first part of this thesis deals with average consensus with quantized up- dates, comparing algorithms such as quantized gossip, average preserving quan- tized gossip, and CHOCO-GOSSIP. CHOCO-GOSSIP stands out as the most ef- fective algorithm, which shows the importance of pre-compensating the quanti- zation error before transmitting the node values. Among other algorithms, aver- age preserving quantized gossip shows slightly better performance. Additionally, graphs with higher connectivity tend to perform better.  The second part of this thesis focuses on energy-efficient average consensus with random node dropout. It compares the optimized node dropout proba- bilities with heuristic designs such as the degree-based method and Metropolis- Hastings method. The degree-based method is shown to give good convergence performance despite its simplicity. Furthermore, in irregular graphs, the perfor- mance difference between optimized probabilities and heuristic designs tends to be more pronounced.

Thesis (Ph. D.)--University of Washington, 1997. / Vita. Includes bibliographical references (leaves [212]-293).