Enabling weakened hedges in linguistic multi-criteria decision making

A semantics-based model is proposed to enable weakened hedges, such as ＂more or less＂ and ＂roughly＂ in the context of linguistic multi-criteria decision making. First, the resemblance relations are defined based on the semantics of terms on the domain. Then, the hedges can be represented after the upper and loose upper approximations of a linguistic term are derived. Accordingly, some compact formulae can be derived for the semantics of linguistic expressions with hedges. Parameters in these formulae are objectively determined according to the semantics of original terms. The proposed model presents a more natural way to express the decision information under uncertainties and its semantics is clear. The proposed model is clarified by solving the problem of evaluation and selection of sustainable innovative energy technologies. Computational results demonstrate that the model can deal with various uncertainties of the problem. Finally, the model is compared with existing techniques and extended to the case when the semantics of terms are represented by trapezoidal fuzzy numbers.

论言语中的Hedges

Hedge是一种极具特殊性的语言表达,许多语言学家研究发现它广泛地用于女性语体中。从语用角度来讲,它也是一种极其重要的表达手段,并充分体现言语交际中应遵守的合作原则和礼貌原则,同时在特定的语境下蓄含特殊的意义,它的主要用途。

An Exploratory Study of Hedging in Chinese ESL Learners' Academic

Hedging, referring to the use of various lexical and syntactic features modifying and mitigating propositions and claims, is extensively employed in effective academic writing. However, the use of hedges seems to be quite problematic for lots of Chinese ESL learners. In view of the situation, this study explores the use of hedges in academic abstracts by a group of undergraduate English majors in a university in Hainan Province. After analyzing data from a corpus and interviews, several problems have been found in the use of hedging devices of these students, and relevant implications have been drawn to the teaching of hedging in the context, which can help the students produce more effective academic writing and to achieve greater university success.

A Longitudinal Study of Hedges in Different Moves of EMRAs

This paper investigates the evolutionary change in the OF(OF) of hedges in different moves of EMRAs(EMRAs).Two corpora are established for longitudinal study,with Corpus A consisting of EMRAs from 1990-1994 and Corpus B from 2005-2009.Generally,no significant change has been found in overall use of hedges.However,apart from move 6,7 and 10,we have found some interesting changes in the other moves.On the one hand,the OF of hedges in move 1,move 3,move 4 and move 5 shows a significant increase.On the other hand,the OF of hedges in move 2,8,9 and move 11 show a significant decrease.

COVID‑19 pandemic and the crude oil market risk:hedging options with non‑energy financial innovations

This study examines the hedging effectiveness of financial innovations against crude oil investment risks,both before and during the COVID-19 pandemic.We focus on the non-energy exchange traded funds(ETFs)as proxies for financial innovations given the potential positive correlation between energy variants and crude oil proxies.We employ a multivariate volatility modeling framework that accounts for important statistical features of the non-energy ETFs and oil price series in the computation of optimal weights and optimal hedging ratios.Results show evidence of hedging effectiveness for the financial innovations against oil market risks,with higher hedging performance observed during the pandemic.Overall,we show that sectoral financial innovations provide resilient investment options.Therefore,we propose that including the ETFs in an investment portfolio containing oil could improve risk-adjusted returns,especially in similar financial crisis as witnessed during the pandemic.In essence,our results are useful for investors in the global oil market seeking to maximize risk-adjusted returns when making investment decisions.Moreover,by exploring the role of structural breaks in the multivariate volatility framework,our attempts at establishing robustness for the results reveal that ignoring the same may lead to wrong conclusions about the hedging effectiveness.

High Altitude Frogs (Rana kukonoris) Adopt a Diversified Bethedging Strategy in the Face of Environmental Unpredictability

Environmental unpredictability can influence strategies of maternal investment among eggs within a clutch. Models predict that breeding females should adopt a diversified bet-hedging strategy in unpredictable environments, but empirical field evidence from Asia is scarce. Here we tested this hypothesis by exploring spatial patterns in egg size along an altitudinal gradient in a frog species （Rana kukunoris） inhabiting the Tibetan Plateau. Within-clutch variability in egg size increased as the environment became variable （e.g., lower mean monthly temperature and mean monthly rainfall at higher altitudes）, and populations in environments with more unpredictable rainfall produced eggs that were smaller and more variable in size. We provide support for a diversified bet-hedging strategy in high-altitude environments, which experience dynamic weather patterns and therefore are of unpredictable environmental quality. This strategy may be an adaptive response to lower environmental quality and higher unpredictable environmental variance. Such a strategy should increase the likelihood of breeding success and maximize maternal lifetime fitness by producing offspring that are adapted to current environmental conditions. We speculate that in high-altitude environments prone to physical disturbance, breeding females are unable to consistently produce the optimal egg size due to physiological constraints imposed by environmental conditions （e.g., duration of the active season, food availability）. Species and populations whose breeding strategies are adapted to cope with uncertain environmental conditions by adjusting offspring size and therefore quality show a remarkable degree of ability to cope with future climatic changes.

A Corpus-based Contrastive Study on Hedging in English Business Cor-respondences between Chinese English Learners and Native Speakers

This is a corpus-based contrastive study projected to find out the differences in using hedges in English business corre spondences between Chinese English learners and native speakers.

Hedging in Discourse Analysis

In this article an attempt to enhance the awareness of hedging use in discourse analysis and academic writing is madeby analyzing hedges employed in two comparable texts.The discourse analysis is conducted from"content-oriented"hedges and"reader-oriented"hedges.The article suggests that hedging can dampen utterances and statements,weaken the force of what onesays and show politeness to the listeners or readers,which varies from different discourse styles of various genres.discourse marker;hedging;research article;news

Pragmatic Functions of Hedges in Business Letters

The aim of the present research to explore the hedges used English business letters. Several samples have been chosen to make qualitative study in order to achieve the goal of answering the following question: what are the pragmatic functions of hedges being used in business letters? After analyzing the samples, the conclusion could be came that the employment of hedges in business letters has three pragmatic functions-giving the right amount of information, being polite and self-production.

The Relative Ordering of Optimal Hedging Points in a Class of Failure Prone Manufacturing Systems

For a class of manufacturing systems with homogeneous Markov machine failure rates,the stationary probability distribution of the part surplus can be calculated for given tentative values of hedging points. Some properties on the ordering of optimal hedging points are obtained.

Insiders' Hedging for Jump Diffusion Processes with Applications to Index Tracking

The hedging problem for insiders is very important in the financial market.The locally risk minimizing hedging was adopted to solve this problem.Since the market was incomplete,the minimal martingale measure was chosen as the equivalent martingale measure.By the F-S decomposition,the expression of the locally risk minimizing strategy was presented.Finally,the local risk minimization was applied to index tracking and its relationship with tracking error variance (TEV)-minimizing strategy was obtained.

Option Pricing and Hedging under a Markov Switching Lévy Process Model

In this paper, we consider a Markov switching Lévy process model in which the underlying risky assets are driven by the stochastic exponential of Markov switching Lévy process and then apply the model to option pricing and hedging. In this model, the market interest rate, the volatility of the underlying risky assets and the N-state compensator,depend on unobservable states of the economy which are modeled by a continuous-time Hidden Markov process. We use the MEMM(minimal entropy martingale measure) as the equivalent martingale measure. The option price using this model is obtained by the Fourier transform method. We obtain a closed-form solution for the hedge ratio by applying the local risk minimizing hedging.

Mean-Variance Hedging for General Claims in an Incomplete Market: Numeraire Method

This paper considered the problem of hedging a European call (put) option for a diffusion model where the asset price is influenced by n uncertain factors. The market is thus incomplete implying that perfect hedging is not possible. To derive a hedging strategy, it follows the approach based on the idea of hedging under a mean-variance criterion suggested by Schweizer. A very simple solution of this hedging problem by using the numeraire method was presented and some examples with explicit solutions were given.

Power Purchase Model of Provincial Grids Based on Diverse Energy Coordination Hedging Optimization

Under the background of energy conservation, the grid companies should give priority to consumptive hydropower, wind power and other clean electricity to fulfill their social responsibility and promote the carbon emission reduction in power industry. But under the current power purchase mode, grid companies must first perform the contract. This is extremely uneconomical and not environmentally friendly. Based on hedging theory, this paper proposes a power purchase optimization model using the strategy of “compression and compensation”. If outer price is lower than the contract price, the grid can compress contract power appropriately, leaving more space for purchasing electricity;if outer price is not attractive enough, the grid should timely improve contract proportion, compensating the deviations of contract caused by "compression". Based on the strategy of "compression and compensation", it can effectively reduce the abandoned wind and water, enhance the economic and social benefits of provincial power grid.

On discrete time hedging errors in a fractional Black-Scholes model

In this paper we investigate asymptotic behavior of error of a discrete time hedging strategy in a fractional Black-Scholes model in the sense of Wick-ItS-Skorohod integration. The rate of convergence of the hedging error due to discrete-time trading when the true strategy is known for the trader, is investigated. The result provides new statistical tools to study and detect the effect of the long-memory and the Hurst parameter for the error of discrete time hedging.

A Study of Hedges in Pride and Prejudice

Human language is fuzzy,which can be reflected by hedges.Prince has divided hedges into adaptor,rounder,plausibility shields,and attribution shields.In a dialogue,hedges can protect face of the speakers and relieve some of the speaker’s responsibilities as well as make linguistic expressions more implicit,polite,and flexible.Based on this classification,the paper analyzes some typical hedges and their functions used in the dialogues of the novel Pride and Prejudice,so as to have a deeper understanding of the major characters and the theme of the novel.

Optimal Hedging Strategies of Stock Index Futures Based on the Perspective of Information Asymmetry

Based on two different risk measurement criteria, this article studied the optimal hedging strategies of stock index futures in the case of asymmetric information, and discussed the influence of insider information on the hedging effect. Through simulation analysis, it can be shown that hedging people with insider information can save hedging costs to a certain extent, which also explains the reason why investors try to obtain corporate information in actual investment activities.

A Corpus-Based Study of Hedges in News Report—A Case Study of COVID-19 in China Daily

Hedges refer to the speakers who deliberately make the language more vague or clear in order to achieve its target language form.The initial COVID-19 in 2020 is a global epidemic,and people who stay at home relying on Internet media channels to obtain information.People are more likely to take news media as the prior measure to contact with the information.COVID-19 news is closely related to people’s daily life.COVID-19 news requires accuracy and high expression of language,and it is easy for readers to find out that reporters use a large number of hedges in COVID-19 news articles.This paper intends to conduct a self-built micro corpus so as to explore the use of hedges in COVID-19 news.Based on this research purpose,this article focuses on solving two problems:(1).The similarities and differences in the frequency and distribution of hedges in COVID-19 news;(2).The pragmatic and public opinion functions of hedges in the news of the COVID-19 epidemic.The result of the study indicated that a great number of hedges are used in the COVID-19 news.According to Prince’s classification of Hedges from the perspective of pragmatics,the distribution and frequency of different types of hedges are various.Reports sometimes manipulate the usage of hedges,change their heddging functions to protect the image of countries,enhance reader’s confidence and guide a favorable environment to society.

STUDY ON CONTINUOUS-TIME HEDGING PROBLEM IN INCOMPLETE MARKETS

This paper extended the continuous time dynamic hedging theorem for the incomplete markets of Bertsimas, Kogan and Lo’s to the case in which riskless interest rate is not zero. The theorem was then proved with the stochastic dynamic programming theory, by constructing a self financing dynamic strategy that best approximates an arbitrary payoff function in the mean squared sense. When the riskless interest rate is zero, our optimal hedging strategy coincides with the results of Bertsimas, Kogan and Lo,i.e. their results are special cases of ours.

A Critical Discourse Analysis of Hedges in Chinese and American Spokespersons’ Remarks at Press Conference

Hedging is a communication strategy frequently used by the spokespersons at the press conference.This thesis intends to find out the ideologies hidden behind those hedges under the guidance of Fairclough’s three-dimensional model.As a research method of linguistics,critical discourse analysis(CDA)aims to reveal the the relationship among language,power and ideology hidden behind the language.This thesis adopts Prince’classification criteria of hedges to identify and count the different types of hedges in the research data selected from Chinese and American government websites.The analysis is conducted at the following three steps:description,interpretation and explanation.The first stage is to recognize and count the hedges in two languages,then to find their similarities and differences and the last step is to find possible reasons for those similarities and differences and the ideologies behind the hedges.Analysis results show that differences in culture values and diplomatic ideology contribute to the different ideologies.