wanyu/IteraTeR_full_sent huggingface dataset:
Original:  Hence, market efficiency at least requires the absence of weak arbitrage  , but this is not sufficient to establish a situation where asset prices always "fully reflect " some information beyond the price history .
Revised:  Hence, market efficiency at least requires the absence of weak arbitrage , but this is not sufficient to establish a situation where asset prices always "fully reflect " or "rapidly adjusts to" some information flow including the evolution of asset prices .
Edit intent: meaning-changed
Original:  By contrast, completeness is a sufficient and necessary condition for a market to be informationally efficient , i.e., only in that case past and future events turn out to be independent conditional on the price history with respect to the physical measure.
Revised:  By contrast, No Weak Arbitrage together with market sensitivity is sufficient and necessary condition for a market to be informationally efficient , i.e., only in that case past and future events turn out to be independent conditional on the price history with respect to the physical measure.
Edit intent: meaning-changed
Original:  By contrast, completeness is a sufficient and necessary condition for a market to be informationally efficient , i.e., only in that case past and future events turn out to be independent conditional on the price history with respect to the physical measure.
Revised:  By contrast, completeness is a sufficient and necessary for a market to be informationally efficient , i.e., only in that case past and future events turn out to be independent conditional on the price history with respect to the physical measure.
Edit intent: clarity
Original: Employing a recent technique which allows the representation of nonstationary data by means of a juxtaposition of locally stationary paths of different length, we introduce a comprehensive analysis of the key observables in a financial market: the trading volume and the price fluctuations.
Revised: Employing a recent technique which allows the representation of nonstationary data by means of a juxtaposition of locally stationary patches of different length, we introduce a comprehensive analysis of the key observables in a financial market: the trading volume and the price fluctuations.
Edit intent: clarity
Original:  From the segmentation procedure we are able to introduce a quantitative description of statistical features of these two quantities, which are often named stylized facts, namely the tails of the distribution of trading volume and price fluctuations and a dynamics compatible with the U-shaped profile of the volume in a trading section and the slow decay of the autocorrelation function.
Revised:  From the segmentation procedure we are able to introduce a quantitative description of a group of statistical features (stylizes facts) of the trading volume and price fluctuations and a dynamics compatible with the U-shaped profile of the volume in a trading section and the slow decay of the autocorrelation function.
Edit intent: clarity
Original:  From the segmentation procedure we are able to introduce a quantitative description of statistical features of these two quantities, which are often named stylized facts, namely the tails of the distribution of trading volume and price fluctuations and a dynamics compatible with the U-shaped profile of the volume in a trading section and the slow decay of the autocorrelation function.
Revised:  From the segmentation procedure we are able to introduce a quantitative description of statistical features of these two quantities, which are often named stylized facts, namely the tails of the distribution of trading volume and price fluctuations , namely the tails of each distribution, the U-shaped profile of the volume in a trading section and the slow decay of the autocorrelation function.
Edit intent: clarity
Original:  From the segmentation procedure we are able to introduce a quantitative description of statistical features of these two quantities, which are often named stylized facts, namely the tails of the distribution of trading volume and price fluctuations and a dynamics compatible with the U-shaped profile of the volume in a trading section and the slow decay of the autocorrelation function.
Revised:  From the segmentation procedure we are able to introduce a quantitative description of statistical features of these two quantities, which are often named stylized facts, namely the tails of the distribution of trading volume and price fluctuations and a dynamics compatible with the U-shaped profile of the volume in a trading session and the evolution of the trading volume autocorrelation function.
Edit intent: clarity
Original:  By assuming that long-term features are the outcome of a statistical mixture of simple local forms, we test and compare different probability density functions to provide the long-term distribution of the trading volume, concluding that the log-normal gives the best agreement with the empirical distribution.
Revised:  Assuming that long-term features are the outcome of a statistical mixture of simple local forms, we test and compare different probability density functions to provide the long-term distribution of the trading volume, concluding that the log-normal gives the best agreement with the empirical distribution.
Edit intent: coherence
Original:  We show in theory and simulation that our proposed algorithm, named delayed CSMA, adds virtually no additional overhead onto the existing CSMA-based algorithms, achieves the throughput optimality under the usual choice of link weight as a function of local queue length, and also guarantees much better delay performance by effectively ' de-correlating' the link state process (thus removing link starvation) under any arbitrary network topology.
Revised:  We show in theory and simulation that our proposed algorithm, named delayed CSMA, adds virtually no additional overhead onto the existing CSMA-based algorithms, achieves the throughput optimality under the usual choice of link weight as a function of local queue length, and also provides much better delay performance by effectively ' de-correlating' the link state process (thus removing link starvation) under any arbitrary network topology.
Edit intent: clarity
Original:  We show in theory and simulation that our proposed algorithm, named delayed CSMA, adds virtually no additional overhead onto the existing CSMA-based algorithms, achieves the throughput optimality under the usual choice of link weight as a function of local queue length, and also guarantees much better delay performance by effectively ' de-correlating' the link state process (thus removing link starvation) under any arbitrary network topology.
Revised:  We show in theory and simulation that our proposed algorithm, named delayed CSMA, adds virtually no additional overhead onto the existing CSMA-based algorithms, achieves the throughput optimality under the usual choice of link weight as a function of local queue length, and also guarantees much better delay performance by effectively ` de-correlating' the link state process (thus removing link starvation) under any arbitrary network topology.
Edit intent: fluency
Original:  Here, when calculating the price of concrete multiple-expiry exotic options, we do not try to get the formal solution of corresponding initial-boundary problem of the Black-Scholes equation, but explain how to express the expiry payoffs of the exotic option as a combination of the payoffs of some class of higher order binary options.
Revised:  Here, when calculating the price of concrete multiple-expiry exotic options, we do not try to get the formal solution to corresponding initial-boundary problem of the Black-Scholes equation, but explain how to express the expiry payoffs of the exotic option as a combination of the payoffs of some class of higher order binary options.
Edit intent: fluency
Original:  Here, when calculating the price of concrete multiple-expiry exotic options, we do not try to get the formal solution of corresponding initial-boundary problem of the Black-Scholes equation, but explain how to express the expiry payoffs of the exotic option as a combination of the payoffs of some class of higher order binary options.
Revised:  Here, when calculating the price of concrete multiple-expiry exotic options, we do not try to get the formal solution of corresponding initial-boundary problem of the Black-Scholes equation, but explain how to express the expiry payoffs of the exotic options as a combination of the payoffs of some class of higher order binary options.
Edit intent: fluency
Original:  Undirected labeled graphs and graph rewriting are natural models of chemical compounds and chemical reactions.
Revised: Computational approaches to exploring "chemical universes", i.e., very large sets, potentially infinite sets of compounds that can be constructed by a prescribed collection of reaction mechanisms, in practice suffer from a combinatorial explosion. It quickly becomes impossible to test, for all pairs of compounds in a rapidly growing network, whether they can react with each other. More sophisticated and efficient strategies are therefore required to construct very large chemical reaction networks. Undirected labeled graphs and graph rewriting are natural models of chemical compounds and chemical reactions.
Edit intent: meaning-changed
Original:  This provides a basis for exploring spaces of molecules and computing reaction networks implicitly defined by graph grammars. Molecule graphs are connected, meaning that rewriting steps in general are many-to-many graph transformations. Chemical grammars are typically subject to combinatorial explosion, however, making it often infeasible to compute the underlying network by direct breadth-first expansion. To alleviate this problem, we introduce here partial applications of rules as a basis for the efficient implementation of strategies that are not only well suited for exploration of chemistries defined by graph grammars, but that are also applicable in a generalgraph rewriting context as well.
Revised:  Borrowing the idea of partial evaluation from functional programming, we introduce partial applications of rewrite rules. Binding substrate to rules increases the number of rules but drastically prunes the substrate sets to which it might match, resulting in dramatically reduced resource requirements. At the same time, exploration strategies can be guided, e.g. based on restrictions on the product molecules to avoid the explicit enumeration of very unlikely compounds. To this end we introduce here partial applications of rules as a basis for the efficient implementation of strategies that are not only well suited for exploration of chemistries defined by graph grammars, but that are also applicable in a generalgraph rewriting context as well.
Edit intent: meaning-changed
Original:  To alleviate this problem, we introduce here partial applications of rules as a basis for the efficient implementation of strategies that are not only well suited for exploration of chemistries defined by graph grammars, but that are also applicable in a generalgraph rewriting context as well. As showcases, we explore a complex chemistry based on the Diels-Alder reaction to explore specific subspaces of the molecular space. As a non-chemical application we use the framework of exploration strategies to model an abstract graph rewriting problem to construct high-level transformations that cannot be directly represented by the Double-Pushout formalism starting from simple DPO transformation rules .
Revised:  To alleviate this problem, we introduce here a generic framework for the specification of exploration strategies in graph-rewriting systems. Using key examples of complex chemical networks from sugar chemistry and the realm of metabolic networks we demonstrate the feasibility of a high-level transformations that cannot be directly represented by the Double-Pushout formalism starting from simple DPO transformation rules .
Edit intent: clarity
Original:  As a non-chemical application we use the framework of exploration strategies to model an abstract graph rewriting problem to construct high-level transformations that cannot be directly represented by the Double-Pushout formalism starting from simple DPO transformation rules .
Revised:  As a non-chemical application we use the framework of exploration strategies to model an abstract graph rewriting problem to construct high-level strategy framework. The ideas presented here can not only be used for a strategy-based chemical space exploration that has close correspondence of experimental results, but are much more general. In particular, the framework can be used to emulate higher-level transformation models such as illustrated in a small puzzle game .
Edit intent: meaning-changed
Original: We consider a financial market model with a single risky asset whose price process evolves according to a general jump-diffusion with locally bounded coefficients and where market participants have only access to a partial information flow (%DIFDELCMD < \E%%% _t)_{t\geq0\subseteq(}%DIFDELCMD < \F%%% _t)_{t\geq0 . For any utility function,
Revised: We consider a financial market model with a single risky asset whose price process evolves according to a general jump-diffusion with locally bounded coefficients and where market participants have only access to a partial information flow %DIFDELCMD < \E%%% _t)_{t\geq0\subseteq(}%DIFDELCMD < \F%%% _t)_{t\geq0 . For any utility function,
Edit intent: fluency
Original: We consider a financial market model with a single risky asset whose price process evolves according to a general jump-diffusion with locally bounded coefficients and where market participants have only access to a partial information flow (%DIFDELCMD < \E%%% _t)_{t\geq0\subseteq(}%DIFDELCMD < \F%%% _t)_{t\geq0 . For any utility function,
Revised: We consider a financial market model with a single risky asset whose price process evolves according to a general jump-diffusion with locally bounded coefficients and where market participants have only access to a partial information flow (%DIFDELCMD < \E%%% \subseteq(}%DIFDELCMD < \F%%% _t)_{t\geq0 . For any utility function,
Edit intent: fluency
Original: We consider a financial market model with a single risky asset whose price process evolves according to a general jump-diffusion with locally bounded coefficients and where market participants have only access to a partial information flow (%DIFDELCMD < \E%%% _t)_{t\geq0\subseteq(}%DIFDELCMD < \F%%% _t)_{t\geq0 . For any utility function,
Revised: We consider a financial market model with a single risky asset whose price process evolves according to a general jump-diffusion with locally bounded coefficients and where market participants have only access to a partial information flow (%DIFDELCMD < \E%%% _t)_{t\geq0\subseteq(}%DIFDELCMD < \F%%% . For any utility function,
Edit intent: fluency
Original:  we prove that the partial information financial market is locally viable, in the sense that the problem of maximizing the expected utility of terminal wealth has a solution up to a stopping time, if and only if the  marginal utility of the terminal wealth is the density of a partial information equivalent martingale measure (PIEMM).
Revised:  we prove that the partial information financial market is locally viable, in the sense that the optimal portfolio problem has a solution up to a stopping time, if and only if the marginal utility of the terminal wealth is the density of a partial information equivalent martingale measure (PIEMM).
Edit intent: clarity
Original:  we prove that the partial information financial market is locally viable, in the sense that the problem of maximizing the expected utility of terminal wealth has a solution up to a stopping time, if and only if the  marginal utility of the terminal wealth is the density of a partial information equivalent martingale measure (PIEMM).
Revised:  we prove that the partial information financial market is locally viable, in the sense that the problem of maximizing the expected utility of terminal wealth has a solution up to a stopping time, if and only if the (normalised) marginal utility of the terminal wealth is the density of a partial information equivalent martingale measure (PIEMM).
Edit intent: meaning-changed
Original:  we prove that the partial information financial market is locally viable, in the sense that the problem of maximizing the expected utility of terminal wealth has a solution up to a stopping time, if and only if the  marginal utility of the terminal wealth is the density of a partial information equivalent martingale measure (PIEMM).
Revised:  we prove that the partial information financial market is locally viable, in the sense that the problem of maximizing the expected utility of terminal wealth has a solution up to a stopping time, if and only if the marginal utility of the terminal wealth generates a partial information equivalent martingale measure (PIEMM).
Edit intent: clarity
Original:  We then show that the financial market is globally viable if and only if there exists a partial information local martingale deflator (PILMD), which can be explicitly constructed. In the case of bounded coefficients, the latter turns out to be the density process of a global PIEMM.
Revised:  We then show that the financial market is globally viable if and only if there exists a partial information local martingale deflators (PILMDs).
Edit intent: clarity
Original: Assuming that agents' preferences satisfy first-order stochastic dominance, we show that the Expected Utility Paradigm can explain all rational investment choices. In particular, the optimal investment strategy in any behavioral law-invariant  setting corresponds to the optimum for some risk averse expected utility maximizer whose concave utility function we derive explicitly .
Revised: Assuming that agents' preferences satisfy first-order stochastic dominance, we show how the (Generalized) Expected Utility paradigm can rationalize all optimal investment choices: the optimal investment strategy in any behavioral law-invariant setting corresponds to the optimum for some risk averse expected utility maximizer whose concave utility function we derive explicitly .
Edit intent: meaning-changed
Original:  We also show that decreasing absolute risk aversion (DARA)  is equivalent to a demand for  terminal wealth that has more spread than the opposite of the log pricing kernel at the investment horizon.
Revised:  We also show that decreasing absolute risk aversion (DARA) to distributional properties of the terminal wealth and the financial market. Specifically, we show that DARA is equivalent to a demand for terminal wealth that has more spread than the opposite of the log pricing kernel at the investment horizon.
Edit intent: meaning-changed
Original: Assuming that agents' preferences satisfy first-order stochastic dominance, we show how the (Generalized) Expected Utility paradigm can rationalize all optimal investment choices: the optimal investment strategy in any behavioral law-invariant (state-independent) setting corresponds to the optimum for a risk averse (generalized) expected utility maximizer with an explicitly derived concave  utility function.
Revised: Assuming that agents' preferences satisfy first-order stochastic dominance, we show how the Expected Utility paradigm can rationalize all optimal investment choices: the optimal investment strategy in any behavioral law-invariant (state-independent) setting corresponds to the optimum for a risk averse (generalized) expected utility maximizer with an explicitly derived concave utility function.
Edit intent: fluency
Original: Assuming that agents' preferences satisfy first-order stochastic dominance, we show how the (Generalized) Expected Utility paradigm can rationalize all optimal investment choices: the optimal investment strategy in any behavioral law-invariant (state-independent) setting corresponds to the optimum for a risk averse (generalized) expected utility maximizer with an explicitly derived concave  utility function.
Revised: Assuming that agents' preferences satisfy first-order stochastic dominance, we show how the (Generalized) Expected Utility paradigm can rationalize all optimal investment choices: the optimal investment strategy in any behavioral law-invariant (state-independent) setting corresponds to the optimum for an expected utility maximizer with an explicitly derived concave utility function.
Edit intent: clarity
Original: Assuming that agents' preferences satisfy first-order stochastic dominance, we show how the (Generalized) Expected Utility paradigm can rationalize all optimal investment choices: the optimal investment strategy in any behavioral law-invariant (state-independent) setting corresponds to the optimum for a risk averse (generalized) expected utility maximizer with an explicitly derived concave  utility function.
Revised: Assuming that agents' preferences satisfy first-order stochastic dominance, we show how the (Generalized) Expected Utility paradigm can rationalize all optimal investment choices: the optimal investment strategy in any behavioral law-invariant (state-independent) setting corresponds to the optimum for a risk averse (generalized) expected utility maximizer with an explicitly derived concave non-decreasing utility function.
Edit intent: meaning-changed
Original:  Each underlying shows a volatility smile and is modeled according to a density-mixture dynamical model while the same property holds for the multivariate process of all assets, whose density is a mixture of multivariate basic densities.
Revised:  Each asset volatility smile is modeled according to a density-mixture dynamical model while the same property holds for the multivariate process of all assets, whose density is a mixture of multivariate basic densities.
Edit intent: clarity
Original:  We provide a semi-analytic formula for the price of European optionson a basket/index of securities .
Revised:  We prove existence and uniqueness of solutions for the model stochastic differential equations, provide formulas for a number of basket options, and analyze the dependence structure of the model in detail by deriving a number of results on covariances, its copula function and rank correlation measures and volatilities-assets correlations .
Edit intent: meaning-changed
Original:  We also introduce a multivariate uncertain volatility model of which our multivariate local volatilities model is a multivariate markovian projectionand analyze the dependence structure induced by our multivariate dynamics in detail .
Revised:  We also show existence of a multivariate uncertain volatility model of which our multivariate local volatilities model is a multivariate markovian projectionand analyze the dependence structure induced by our multivariate dynamics in detail .
Edit intent: clarity
Original:  We also introduce a multivariate uncertain volatility model of which our multivariate local volatilities model is a multivariate markovian projectionand analyze the dependence structure induced by our multivariate dynamics in detail .
Revised:  We also introduce a multivariate uncertain volatility model of which our multivariate local volatilities model is a Markovian projection, highlighting that the projected model is smoother and avoids a number of drawbacks of the uncertain volatility version. We also show a consistency result where the Markovian projection of a geometric basket in the multivariate model is a univariate mixture dynamics model .
Edit intent: meaning-changed