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q-fin.MF2026
Behavioral Participating Insurance: Optimal Investment under Probability Distortion and Aspiration Constraints
Hao Liu, Yang Liu, Zhenyu Shen
We study optimal investment for insurers managing participating (profit-sharing) contracts under probability distortion and probability benchmark (aspiration) constraints. The prob…
stat.ME2026
Optimal Watermark Localization in Mixed-Source Large Language Model Texts
Jose H. Blanchet, T. Tony Cai, Xiang Li +3
Watermarking provides a principled way to authenticate text generated by large language models (LLMs). In practice, however, the final text may be mixed-source, with watermark evid…