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- Informatik und Mathematik (2) (entfernen)
Nowadays, digitalization has an immense impact on the landscape of jobs. This technological revolution creates new industries and professions, promises greater efficiency and improves the quality of working life. However, emerging technologies such as robotics and artificial intelligence (AI) are reducing human intervention, thus advancing automation and eliminating thousands of jobs and whole occupational images. To prepare employees for the changing demands of work, adequate and timely training of the workforce and real-time support of workers in new positions is necessary. Therefore, it is investigated whether user-oriented technologies, such as augmented reality (AR) and virtual reality (VR) can be applied “on-the-job” for such training and support—also known as intelligence augmentation (IA). To address this problem, this work synthesizes results of a systematic literature review as well as a practically oriented search on augmented reality and virtual reality use cases within the IA context. A total of 150 papers and use cases are analyzed to identify suitable areas of application in which it is possible to enhance employees' capabilities. The results of both, theoretical and practical work, show that VR is primarily used to train employees without prior knowledge, whereas AR is used to expand the scope of competence of individuals in their field of expertise while on the job. Based on these results, a framework is derived which provides practitioners with guidelines as to how AR or VR can support workers at their job so that they can keep up with anticipated skill demands. Furthermore, it shows for which application areas AR or VR can provide workers with sufficient training to learn new job tasks. By that, this research provides practical recommendations in order to accompany the imminent distortions caused by AI and similar technologies and to alleviate associated negative effects on the German labor market.
In the first part of this thesis, we introduce the concept of prospective strict no-arbitrage for discrete-time financial market models with proportional transaction. The prospective strict no-arbitrage condition, which is a variant of strict no-arbitrage, is slightly weaker than the robust no-arbitrage condition. It still implies that the set of portfolios attainable from zero initial endowment is closed in probability. Consequently, prospective strict no-arbitrage implies the existence of consistent prices, which may lie on the boundary of the bid-ask spread. A weak version of prospective strict no-arbitrage turns out to be equivalent to the existence of a consistent price system.
In continuous-time financial market models with proportional transaction costs, efficient friction, i.e., nonvanishing transaction costs, is a standing assumption. Together with robust no free lunch with vanishing risk, it rules out strategies of infinite variation which usually appear in frictionless financial markets. In the second part of this thesis, we show how models with and without transaction costs can be unified. The bid and the ask price of a risky asset are given by cadlag processes which are locally bounded from below and may coincide at some points. In a first step, we show that if the bid-ask model satisfies no unbounded profit with bounded risk for simple long-only strategies, then there exists a semimartingale lying between the bid and the ask price process.
In a second step, under the additional assumption that the zeros of the bid-ask spread are either starting points of an excursion away from zero or inner points from the right, we show that for every bounded predictable strategy specifying the amount of risky assets, the semimartingale can be used to construct the corresponding self-financing risk-free position in a consistent way. Finally, the set of most general strategies is introduced, which also provides a new view on the frictionless case.