wanyu/IteraTeR_full_sent huggingface dataset:
Original:   We identify groupthink as the cause of this failure of information aggregation : As the number of agents grows, the actions of each individual depend more and more on the past actions of others, thus revealing less private information .
Revised:  We identify rational groupthink---in which agents ignore their private signals and choose the same action for long periods of time---as the cause of this failure of information aggregation : As the number of agents grows, the actions of each individual depend more and more on the past actions of others, thus revealing less private information .
Edit intent: meaning-changed
Original:  We find that in the long run, information aggregation fails, and the fraction of private information transmitted goes to zero as the number of agents gets large. With Normal signals, in the long-run, agents learn less from observing the actions of any number of other agents than they learn from seeing three other agents ' signals .
Revised:  With normal signals, a group of any size learns more slowly than just four agents who directly observe each others' private signals in each period. Similar results apply to general signal structures .
Edit intent: clarity
Original:  On the basis of relevant three thresholds (\theta, \varepsilon,\Omega), namely, starting (\theta) , profit-taking (\varepsilon) and stop-loss (\Omega), for the `first-passage process' of the spread (gap) between two highly-correlated stocks, we construct an effective strategy to make a trade via `active' stock-pairs automatically.
Revised:  On the basis of relevant three thresholds , namely, starting (\theta) , profit-taking (\varepsilon) and stop-loss (\Omega), for the `first-passage process' of the spread (gap) between two highly-correlated stocks, we construct an effective strategy to make a trade via `active' stock-pairs automatically.
Edit intent: coherence
Original:  On the basis of relevant three thresholds (\theta, \varepsilon,\Omega), namely, starting (\theta) , profit-taking (\varepsilon) and stop-loss (\Omega), for the `first-passage process' of the spread (gap) between two highly-correlated stocks, we construct an effective strategy to make a trade via `active' stock-pairs automatically.
Revised:  On the basis of relevant three thresholds (\theta, \varepsilon,\Omega), namely, starting , profit-taking (\varepsilon) and stop-loss (\Omega), for the `first-passage process' of the spread (gap) between two highly-correlated stocks, we construct an effective strategy to make a trade via `active' stock-pairs automatically.
Edit intent: fluency
Original:  On the basis of relevant three thresholds (\theta, \varepsilon,\Omega), namely, starting (\theta) , profit-taking (\varepsilon) and stop-loss (\Omega), for the `first-passage process' of the spread (gap) between two highly-correlated stocks, we construct an effective strategy to make a trade via `active' stock-pairs automatically.
Revised:  On the basis of relevant three thresholds (\theta, \varepsilon,\Omega), namely, starting (\theta) , profit-taking , and stop-loss (\Omega), for the `first-passage process' of the spread (gap) between two highly-correlated stocks, we construct an effective strategy to make a trade via `active' stock-pairs automatically.
Edit intent: fluency
Original:  On the basis of relevant three thresholds (\theta, \varepsilon,\Omega), namely, starting (\theta) , profit-taking (\varepsilon) and stop-loss (\Omega), for the `first-passage process' of the spread (gap) between two highly-correlated stocks, we construct an effective strategy to make a trade via `active' stock-pairs automatically.
Revised:  On the basis of relevant three thresholds (\theta, \varepsilon,\Omega), namely, starting (\theta) , profit-taking (\varepsilon) and stop-loss for the `first-passage process' of the spread (gap) between two highly-correlated stocks, we construct an effective strategy to make a trade via `active' stock-pairs automatically.
Edit intent: fluency
Original:  We are numerically confirmed that the asset management by means of the pairs trading works effectively at least for the past three years (2010-2012) data sets in the sense that the profit rate becomes positive (totally positive arbitrage) in most cases of the possible combinations of thresholds (\theta,\varepsilon,\Omega) ( `absorbing boundaries' in the literature of first-passage processes ) .
Revised:  We are numerically confirmed that the asset management by means of the pairs trading works effectively at least for the past three years (2010-2012) data sets in the sense that the profit rate becomes positive (totally positive arbitrage) in most cases of the possible combinations of thresholds corresponding to `absorbing boundaries' in the literature of first-passage processes ) .
Edit intent: clarity
Original:  We are numerically confirmed that the asset management by means of the pairs trading works effectively at least for the past three years (2010-2012) data sets in the sense that the profit rate becomes positive (totally positive arbitrage) in most cases of the possible combinations of thresholds (\theta,\varepsilon,\Omega) ( `absorbing boundaries' in the literature of first-passage processes ) .
Revised:  We are numerically confirmed that the asset management by means of the pairs trading works effectively at least for the past three years (2010-2012) data sets in the sense that the profit rate becomes positive (totally positive arbitrage) in most cases of the possible combinations of thresholds (\theta,\varepsilon,\Omega) ( `absorbing boundaries' in the literature of first-passage processes .
Edit intent: fluency
Original: In the context of large financial markets we formulate the notion of "no asymptotic free lunch with vanishing risk" (NAFLVR), under which we can prove a version of the fundamental theorem of asset pricing (FTAP) in markets with an (even uncountably) infinite number of assets, as it is for instance the case in bond markets.
Revised: In the context of large financial markets we formulate the notion of no asymptotic free lunch with vanishing risk (NAFLVR), under which we can prove a version of the fundamental theorem of asset pricing (FTAP) in markets with an (even uncountably) infinite number of assets, as it is for instance the case in bond markets.
Edit intent: fluency
Original:  We work in the general setting of admissible portfolio wealth processes as laid down by Y. Kabanov (1997) under a substantially relaxed concatenation property and adapt the FTAP proof variant obtained in Cuchiero and Teichmann (2014) for the classical small market situation to large financial markets.
Revised:  We work in the general setting of admissible portfolio wealth processes as laid down by Y. Kabanov \mbox{%DIFAUXCMD kab:97 under a substantially relaxed concatenation property and adapt the FTAP proof variant obtained in Cuchiero and Teichmann (2014) for the classical small market situation to large financial markets.
Edit intent: meaning-changed
Original:  We work in the general setting of admissible portfolio wealth processes as laid down by Y. Kabanov (1997) under a substantially relaxed concatenation property and adapt the FTAP proof variant obtained in Cuchiero and Teichmann (2014) for the classical small market situation to large financial markets.
Revised:  We work in the general setting of admissible portfolio wealth processes as laid down by Y. Kabanov (1997) under a substantially relaxed concatenation property and adapt the FTAP proof variant obtained in \mbox{%DIFAUXCMD CT:14 for the classical small market situation to large financial markets.
Edit intent: meaning-changed
Original:  In the case of countably many assets, our setting includes the large financial market model considered by M. De Donno et al. (2005) and its abstract integration theory.
Revised:  In the case of countably many assets, our setting includes the large financial market model considered by M. De Donno et al. \mbox{%DIFAUXCMD DGP:05 and its abstract integration theory.
Edit intent: meaning-changed
Original: This paper models a firm's level of effort in mobile software application production as an optimal control problem to maximize market share and profit in a digital marketplace. Through a rumor-spreading system dynamic, a digital goods vendor can capture market share by focusing efforts on software quality, which is costly.
Revised: We use a control framework to analyze the digital vendor's profit maximization problem. The vendor captures market share by focusing efforts on software quality, which is costly.
Edit intent: clarity
Original:  Through a rumor-spreading system dynamic, a digital goods vendor can capture market share by focusing efforts on software quality, which is costly. We first derive theoretical results expressing market share, the state variable, in terms of effort put towards quality, the control variable. We then usenumerical examples to illustrate optimal control paths for vendors facing various market conditions. Our results on effort towards quality are consistent with software evolution theory and show that focus on quality always declines over a product's life cycle.
Revised:  Through a rumor-spreading system dynamic, a digital goods vendor can capture market share by focusing costly effort on post-launch product maintenance, which influences user perception of the product and drives a revenue stream associated with product use. Our theoretical results show necessary and sufficient conditions for product maintenance to decline over a product's life cycle.
Edit intent: clarity
Original:  Our results on effort towards quality are consistent with software evolution theory and show that focus on quality always declines over a product's life cycle. On the other hand, our findings on market share indicate that initial market conditions dictate the optimal path to pursue and affect final market share .
Revised:  Our results on effort towards quality are consistent with software evolution theory and show that focus on quality always declines over a product's life-cycle, thus showing conditions when Lehman's 7th law of software evolution holds. We also numerically illustrate control paths under different market conditions .
Edit intent: meaning-changed
Original:  In this paper, we propose an alternative approach to justify the convergence of forward towards spot prices as time-to-maturity goes to zero . We show that the classical no-arbitrage relationship between spot and forward prices holds through the well-posedness of an expected profit maximization problem for an agent producing and storing a commodity while trading in forward contracts.
Revised:  In this paper, we propose an alternative approach to justify the convergence of forward towards spot prices as time-to-maturity goes to zero is usually justified by no-arbitrage relationship between spot and forward prices holds through the well-posedness of an expected profit maximization problem for an agent producing and storing a commodity while trading in forward contracts.
Edit intent: meaning-changed
Original:  We show that the classical no-arbitrage relationship between spot and forward prices holds through the well-posedness of an expected profit maximization problem for an agent producing and storing a commodity while trading in forward contracts. A consequence of this is that the forward price of energy can be seen as  risk-neutral expectation of the spot price at maturity .
Revised:  We show that the classical no-arbitrage relationship between spot and forward prices holds through the well-posedness of an expected profit maximization problem for an agent producing and storing a commodity while trading in the associated futures contracts. In this framework, the relation between the spot and the futures prices holds through the well-posedness of the maximization problem. We show that the futures price can still be seen as risk-neutral expectation of the spot price at maturity .
Edit intent: meaning-changed
Original:  A consequence of this is that the forward price of energy can be seen as  risk-neutral expectation of the spot price at maturity . Moreover, we obtain an explicit formula for the forward volatility and provide a heuristic analysis of the optimal solution for the production / storage / investment problem in a Markovian setting  .
Revised:  A consequence of this is that the forward price of energy can be seen as risk-neutral expectation of the spot price at maturity and we propose an explicit formula for the forward volatility and provide a heuristic analysis of the optimal solution for the production / storage / investment problem in a Markovian setting .
Edit intent: coherence
Original:  Moreover, we obtain an explicit formula for the forward volatility and provide a heuristic analysis of the optimal solution for the production / storage / investment problem in a Markovian setting  .
Revised:  Moreover, we obtain an explicit formula for the forward volatility and provide a heuristic analysis of the optimal solution for the production / storage / investment problem in a Markovian setting . This approach is particularly interesting in the case of energy commodity: it remains suitable for commodities characterized by storability constraints, when standard no-arbitrage arguments can not be safely applied .
Edit intent: meaning-changed
Original: We generalise the stylised macroeconomic Agent-Based model introduced in  "Tipping Points in Macroeconomic Agent Based Models" [JEDC 50, 29-61 (2015)], with the aim of investigating the role and efficacy of monetary policy of a ' Central Bank' , that sets the interest rate such as to steer the economy towards a prescribed inflation and unemployment level.
Revised: We extend in a minimal way the stylized model introduced in "Tipping Points in Macroeconomic Agent Based Models" [JEDC 50, 29-61 (2015)], with the aim of investigating the role and efficacy of monetary policy of a ' Central Bank' , that sets the interest rate such as to steer the economy towards a prescribed inflation and unemployment level.
Edit intent: meaning-changed
Original: We generalise the stylised macroeconomic Agent-Based model introduced in  "Tipping Points in Macroeconomic Agent Based Models" [JEDC 50, 29-61 (2015)], with the aim of investigating the role and efficacy of monetary policy of a ' Central Bank' , that sets the interest rate such as to steer the economy towards a prescribed inflation and unemployment level.
Revised: We generalise the stylised macroeconomic Agent-Based model introduced in in "Tipping Points in Macroeconomic Agent Based Models" [JEDC 50, 29-61 (2015)], with the aim of investigating the role and efficacy of monetary policy of a ' Central Bank' , that sets the interest rate such as to steer the economy towards a prescribed inflation and unemployment level.
Edit intent: fluency
Original: We generalise the stylised macroeconomic Agent-Based model introduced in  "Tipping Points in Macroeconomic Agent Based Models" [JEDC 50, 29-61 (2015)], with the aim of investigating the role and efficacy of monetary policy of a ' Central Bank' , that sets the interest rate such as to steer the economy towards a prescribed inflation and unemployment level.
Revised: We generalise the stylised macroeconomic Agent-Based model introduced in "Tipping Points in Macroeconomic Agent Based Models" [JEDC 50, 29-61 (2015)], with the aim of investigating the role and efficacy of monetary policy of a ` Central Bank' , that sets the interest rate such as to steer the economy towards a prescribed inflation and unemployment level.
Edit intent: fluency
Original: We generalise the stylised macroeconomic Agent-Based model introduced in  "Tipping Points in Macroeconomic Agent Based Models" [JEDC 50, 29-61 (2015)], with the aim of investigating the role and efficacy of monetary policy of a ' Central Bank' , that sets the interest rate such as to steer the economy towards a prescribed inflation and unemployment level.
Revised: We generalise the stylised macroeconomic Agent-Based model introduced in "Tipping Points in Macroeconomic Agent Based Models" [JEDC 50, 29-61 (2015)], with the aim of investigating the role and efficacy of monetary policy of a ' Central Bank' that sets the interest rate such as to steer the economy towards a prescribed inflation and unemployment level.
Edit intent: fluency
Original: We generalise the stylised macroeconomic Agent-Based model introduced in  "Tipping Points in Macroeconomic Agent Based Models" [JEDC 50, 29-61 (2015)], with the aim of investigating the role and efficacy of monetary policy of a ' Central Bank' , that sets the interest rate such as to steer the economy towards a prescribed inflation and unemployment level.
Revised: We generalise the stylised macroeconomic Agent-Based model introduced in "Tipping Points in Macroeconomic Agent Based Models" [JEDC 50, 29-61 (2015)], with the aim of investigating the role and efficacy of monetary policy of a ' Central Bank' , that sets the interest rate such as to steer the economy towards a prescribed inflation and employment level.
Edit intent: fluency
Original:  We formulate drawdown duration, which measures the length of excursions below a running maximum, and liquidation stopping time, which denotes the first time drawdown duration exceeds a subjective liquidation threshold, as temporal path-dependent risk measures and show that they, unlike drawdown magnitude, do not satisfy any of the axioms for coherent risk measures.
Revised:  We analyze drawdown duration, which measures the length of excursions below a running maximum, and liquidation stopping time, which denotes the first time drawdown duration exceeds a subjective liquidation threshold, as temporal path-dependent risk measures and show that they, unlike drawdown magnitude, do not satisfy any of the axioms for coherent risk measures.
Edit intent: clarity
Original:  We formulate drawdown duration, which measures the length of excursions below a running maximum, and liquidation stopping time, which denotes the first time drawdown duration exceeds a subjective liquidation threshold, as temporal path-dependent risk measures and show that they, unlike drawdown magnitude, do not satisfy any of the axioms for coherent risk measures.
Revised:  We formulate drawdown duration, which measures the length of excursions below a running maximum, and liquidation stopping time, which denotes the first time drawdown duration exceeds a subjective liquidation threshold, in the context of coherent temporal path-dependent risk measures and show that they, unlike drawdown magnitude, do not satisfy any of the axioms for coherent risk measures.
Edit intent: clarity
Original:  Despite its non-coherence, we illustrate through an empirical example some of the insights gained from analyzing drawdown duration in the investment process . Remarks on the challenges of path-dependent risk estimation in practice are given in the conclusion .
Revised:  Despite its non-coherence, we illustrate through an empirical example some of the insights gained from analyzing drawdown duration in the investment process and discuss the challenges of path-dependent risk estimation in practice are given in the conclusion .
Edit intent: coherence
Original:  Despite its non-coherence, we illustrate through an empirical example some of the insights gained from analyzing drawdown duration in the investment process . Remarks on the challenges of path-dependent risk estimation in practice are given in the conclusion .
Revised:  Despite its non-coherence, we illustrate through an empirical example some of the insights gained from analyzing drawdown duration in the investment process . Remarks on the challenges of path-dependent risk estimation in practice .
Edit intent: coherence
Original:  We analyze drawdown duration, which measures the length of excursions below a running maximum , and liquidation stopping time, which denotes the first time drawdown duration exceeds a subjective liquidation threshold, in the context of coherent temporal path-dependent risk measures and show that they, unlike drawdown magnitude, do not satisfy any of the axioms for coherent risk measures.
Revised:  We discuss the properties of temporal measures of risk and show that they can never be coherent. We then study the temporal dimension of investment drawdown, its duration, which measures the length of excursions below a running maximum , and liquidation stopping time, which denotes the first time drawdown duration exceeds a subjective liquidation threshold, in the context of coherent temporal path-dependent risk measures and show that they, unlike drawdown magnitude, do not satisfy any of the axioms for coherent risk measures.
Edit intent: meaning-changed
Original:  We analyze drawdown duration, which measures the length of excursions below a running maximum , and liquidation stopping time, which denotes the first time drawdown duration exceeds a subjective liquidation threshold, in the context of coherent temporal path-dependent risk measures and show that they, unlike drawdown magnitude, do not satisfy any of the axioms for coherent risk measures.
Revised:  We analyze drawdown duration, which measures the length of excursions below a running maximum . Its properties in the context of coherent temporal path-dependent risk measures and show that they, unlike drawdown magnitude, do not satisfy any of the axioms for coherent risk measures.
Edit intent: meaning-changed
Original:  We analyze drawdown duration, which measures the length of excursions below a running maximum , and liquidation stopping time, which denotes the first time drawdown duration exceeds a subjective liquidation threshold, in the context of coherent temporal path-dependent risk measures and show that they, unlike drawdown magnitude, do not satisfy any of the axioms for coherent risk measures. Despite its non-coherence, we illustrate through an empirical example some of the insights gained from analyzing drawdown duration in the investment process and discuss the challenges of path-dependent  risk estimation in practice.
Revised:  We analyze drawdown duration, which measures the length of excursions below a running maximum , and liquidation stopping time, which denotes the first time drawdown duration exceeds a subjective liquidation threshold, in the context of risk measures are analyzed both theoretically and empirically. In particular, we show that duration captures serial correlation in the returns of two major asset classes. We conclude by discussing the investment process and discuss the challenges of path-dependent risk estimation in practice.
Edit intent: meaning-changed
Original:  Despite its non-coherence, we illustrate through an empirical example some of the insights gained from analyzing drawdown duration in the investment process and discuss the challenges of path-dependent  risk estimation in practice.
Revised:  Despite its non-coherence, we illustrate through an empirical example some of the insights gained from analyzing drawdown duration in the investment process and discuss the challenges of path-dependent temporal risk estimation in practice.
Edit intent: meaning-changed
Original:  Framework of the two-parameter Poisson-Dirichlet distribution contains rich set of methods and tools, such as consistent family of distributions on partitions, limiting distribution in infinite ranked simplex and associated diffusion process, induced by Markov chain of special form .
Revised:  Framework of the two-parameter Poisson-Dirichlet distribution contains rich set of methods and tools, such as consistent family of distributions on partitions, limiting distribution in infinite ranked simplex and associated diffusion processes .
Edit intent: clarity
Original:  The SDR combines the Expected Shortfall (ES) and the Shortfall Deviation (SD), which we also introduce, contemplating the two fundamental pillars of the risk concept, the probability of adverse events (ES) and the variability of an expectation (SD), and considers extreme results.
Revised:  SDR combines Expected Shortfall (ES) and the Shortfall Deviation (SD), which we also introduce, contemplating the two fundamental pillars of the risk concept, the probability of adverse events (ES) and the variability of an expectation (SD), and considers extreme results.
Edit intent: clarity