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We also follow a mechanism design approach, showing that under certain conditions, explicit bargaining is an optimal bargaining mechanism that maximizes the joint surplus of the parties.
Their aim was to determine the order quantity for each product that maximizes the joint profit function.
And contracts should be enforced just insofar as doing so (by increasing confidence in the promises that they contain) establishes optimal incentives for reliance and thus maximizes the joint surplus produced through contractual coordination (see, e.g., Schwartz & Scott 2003: 541).
By representing the ISI channel as a factor graph, the BP algorithm can be used to implement MAP detection, thereby finding the sequence x which maximizes the joint a posteriori probability density function P(x | y).
The former seeks to find the most likely character for all internal nodes, which maximizes the joint likelihood of the tree, whereas the latter compares the likelihood of all possible amino acids at a particular interior node and selects the one that yields the maximum likelihood tree.
Henderson's derivation assumes that m and e are normally distributed and maximizes the joint likelihood of (y, m) over the unknowns β and m.
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The CDDmlr model is fitted to individual-level data by using the maximization function ms in the S-PLUS library (21) to maximize the joint likelihood that is, both submodels are fitted under 1 likelihood (17, 18).
The theory's affirmative claim, in brief, is that contract law should facilitate the efforts of contracting parties to maximize the joint gains (the "contractual surplus") from transactions.
In particular, we iteratively adapt the feature distribution in photographs to fit paintings and maximize the joint likelihood of labeled and unlabeled data.
To maximize the joint gain created by a deal, both sides need to take risks which requires building trust in negotiations.
Because the candidate cared more about salary and the boss cared more about start date, the solution that maximized the joint outcomes was to allow the candidate the highest salary and the boss the earliest start date.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com