{"bundle_type":"pith_open_graph_bundle","bundle_version":"1.0","pith_number":"pith:2014:HZXYBN5ICGQK7CBMKFIRWIWV6N","short_pith_number":"pith:HZXYBN5I","canonical_record":{"source":{"id":"1403.0202","kind":"arxiv","version":1},"metadata":{"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.PM","submitted_at":"2014-03-02T12:21:28Z","cross_cats_sorted":["math.OC"],"title_canon_sha256":"247f390b19a050af6bfc6217570a427e46bf0aa948c3468f80d8e08aa444fd5e","abstract_canon_sha256":"4a18e54cc50d363f00eef142d98885a99c68561bef64237afecd4ed82d32f693"},"schema_version":"1.0"},"canonical_sha256":"3e6f80b7a811a0af882c51511b22d5f3409e763711fe56c2cc8ee92c3a5b8840","source":{"kind":"arxiv","id":"1403.0202","version":1},"source_aliases":[{"alias_kind":"arxiv","alias_value":"1403.0202","created_at":"2026-05-18T02:57:25Z"},{"alias_kind":"arxiv_version","alias_value":"1403.0202v1","created_at":"2026-05-18T02:57:25Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1403.0202","created_at":"2026-05-18T02:57:25Z"},{"alias_kind":"pith_short_12","alias_value":"HZXYBN5ICGQK","created_at":"2026-05-18T12:28:33Z"},{"alias_kind":"pith_short_16","alias_value":"HZXYBN5ICGQK7CBM","created_at":"2026-05-18T12:28:33Z"},{"alias_kind":"pith_short_8","alias_value":"HZXYBN5I","created_at":"2026-05-18T12:28:33Z"}],"events":[{"event_type":"record_created","subject_pith_number":"pith:2014:HZXYBN5ICGQK7CBMKFIRWIWV6N","target":"record","payload":{"canonical_record":{"source":{"id":"1403.0202","kind":"arxiv","version":1},"metadata":{"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.PM","submitted_at":"2014-03-02T12:21:28Z","cross_cats_sorted":["math.OC"],"title_canon_sha256":"247f390b19a050af6bfc6217570a427e46bf0aa948c3468f80d8e08aa444fd5e","abstract_canon_sha256":"4a18e54cc50d363f00eef142d98885a99c68561bef64237afecd4ed82d32f693"},"schema_version":"1.0"},"canonical_sha256":"3e6f80b7a811a0af882c51511b22d5f3409e763711fe56c2cc8ee92c3a5b8840","receipt":{"kind":"pith_receipt","key_id":"pith-v1-2026-05","algorithm":"ed25519","signed_at":"2026-05-18T02:57:25.477214Z","signature_b64":"KsXb1Gj2ifKEN1nYTkqyTOmHLKlC1AvvssERfCFJZiPDMX/S9dzTcUw2N+XVviibl1reWrHhpwjabUNRfFn9Dw==","signed_message":"canonical_sha256_bytes","builder_version":"pith-number-builder-2026-05-17-v1","receipt_version":"0.3","canonical_sha256":"3e6f80b7a811a0af882c51511b22d5f3409e763711fe56c2cc8ee92c3a5b8840","last_reissued_at":"2026-05-18T02:57:25.476541Z","signature_status":"signed_v1","first_computed_at":"2026-05-18T02:57:25.476541Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"source_kind":"arxiv","source_id":"1403.0202","source_version":1,"attestation_state":"computed"},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-05-18T02:57:25Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"Kgbn9NWxamr2M3Qmo96GAd4LdDkxGaX8+VZGp5TWy0fTBBKg2ZOC1F1ETxQt9+92l8HMPmbuzFGl/wpibQ4hAA==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-06-05T16:00:56.625001Z"},"content_sha256":"d48076238f205f703b9dab2a8744ca86940aac3ac158075028831bd7538f6ab7","schema_version":"1.0","event_id":"sha256:d48076238f205f703b9dab2a8744ca86940aac3ac158075028831bd7538f6ab7"},{"event_type":"graph_snapshot","subject_pith_number":"pith:2014:HZXYBN5ICGQK7CBMKFIRWIWV6N","target":"graph","payload":{"graph_snapshot":{"paper":{"title":"Investing and Stopping","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","headline":"","cross_cats":["math.OC"],"primary_cat":"q-fin.PM","authors_text":"L.C.G. Rogers, Moritz Duembgen","submitted_at":"2014-03-02T12:21:28Z","abstract_excerpt":"In this paper we solve the hedge fund manager's optimization problem in a model that allows for investors to enter and leave the fund over time depending on its performance. The manager's payoff at the end of the year will then depend not just on the terminal value of the fund level, but also on the lowest and the highest value reached over that time. We establish equivalence to an optimal stopping problem for Brownian motion; by approximating this problem with the corresponding optimal stopping problem for a random walk we are led to a simple and efficient numerical scheme to find the solutio"},"claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1403.0202","kind":"arxiv","version":1},"verdict":{"id":null,"model_set":{},"created_at":null,"strongest_claim":"","one_line_summary":"","pipeline_version":null,"weakest_assumption":"","pith_extraction_headline":""},"references":{"count":0,"sample":[],"resolved_work":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","internal_anchors":0},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"author_claims":{"count":0,"strong_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"builder_version":"pith-number-builder-2026-05-17-v1"},"verdict_id":null},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-05-18T02:57:25Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"Bf+Yc+rkN4OajqIXCrcT+GFzSig3AMpZnvf5mLYo+bS5aZbesptdkzKaKMRTbpXEbOYGMHdYA2/Mo5nqF4abCA==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-06-05T16:00:56.625398Z"},"content_sha256":"48b28361afcc108ebf236db89460a3d8dbd0a1aed3e370a6fc819d24dd200147","schema_version":"1.0","event_id":"sha256:48b28361afcc108ebf236db89460a3d8dbd0a1aed3e370a6fc819d24dd200147"}],"timestamp_proofs":[],"mirror_hints":[{"mirror_type":"https","name":"Pith Resolver","base_url":"https://pith.science","bundle_url":"https://pith.science/pith/HZXYBN5ICGQK7CBMKFIRWIWV6N/bundle.json","state_url":"https://pith.science/pith/HZXYBN5ICGQK7CBMKFIRWIWV6N/state.json","well_known_bundle_url":"https://pith.science/.well-known/pith/HZXYBN5ICGQK7CBMKFIRWIWV6N/bundle.json","status":"primary"}],"public_keys":[{"key_id":"pith-v1-2026-05","algorithm":"ed25519","format":"raw","public_key_b64":"stVStoiQhXFxp4s2pdzPNoqVNBMojDU/fJ2db5S3CbM=","public_key_hex":"b2d552b68890857171a78b36a5dccf368a953413288c353f7c9d9d6f94b709b3","fingerprint_sha256_b32_first128bits":"RVFV5Z2OI2J3ZUO7ERDEBCYNKS","fingerprint_sha256_hex":"8d4b5ee74e4693bcd1df2446408b0d54","rotates_at":null,"url":"https://pith.science/pith-signing-key.json","notes":"Pith uses this Ed25519 key to sign canonical record SHA-256 digests. Verify with: ed25519_verify(public_key, message=canonical_sha256_bytes, signature=base64decode(signature_b64))."}],"merge_version":"pith-open-graph-merge-v1","built_at":"2026-06-05T16:00:56Z","links":{"resolver":"https://pith.science/pith/HZXYBN5ICGQK7CBMKFIRWIWV6N","bundle":"https://pith.science/pith/HZXYBN5ICGQK7CBMKFIRWIWV6N/bundle.json","state":"https://pith.science/pith/HZXYBN5ICGQK7CBMKFIRWIWV6N/state.json","well_known_bundle":"https://pith.science/.well-known/pith/HZXYBN5ICGQK7CBMKFIRWIWV6N/bundle.json"},"state":{"state_type":"pith_open_graph_state","state_version":"1.0","pith_number":"pith:2014:HZXYBN5ICGQK7CBMKFIRWIWV6N","merge_version":"pith-open-graph-merge-v1","event_count":2,"valid_event_count":2,"invalid_event_count":0,"equivocation_count":0,"current":{"canonical_record":{"metadata":{"abstract_canon_sha256":"4a18e54cc50d363f00eef142d98885a99c68561bef64237afecd4ed82d32f693","cross_cats_sorted":["math.OC"],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.PM","submitted_at":"2014-03-02T12:21:28Z","title_canon_sha256":"247f390b19a050af6bfc6217570a427e46bf0aa948c3468f80d8e08aa444fd5e"},"schema_version":"1.0","source":{"id":"1403.0202","kind":"arxiv","version":1}},"source_aliases":[{"alias_kind":"arxiv","alias_value":"1403.0202","created_at":"2026-05-18T02:57:25Z"},{"alias_kind":"arxiv_version","alias_value":"1403.0202v1","created_at":"2026-05-18T02:57:25Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1403.0202","created_at":"2026-05-18T02:57:25Z"},{"alias_kind":"pith_short_12","alias_value":"HZXYBN5ICGQK","created_at":"2026-05-18T12:28:33Z"},{"alias_kind":"pith_short_16","alias_value":"HZXYBN5ICGQK7CBM","created_at":"2026-05-18T12:28:33Z"},{"alias_kind":"pith_short_8","alias_value":"HZXYBN5I","created_at":"2026-05-18T12:28:33Z"}],"graph_snapshots":[{"event_id":"sha256:48b28361afcc108ebf236db89460a3d8dbd0a1aed3e370a6fc819d24dd200147","target":"graph","created_at":"2026-05-18T02:57:25Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"graph_snapshot":{"author_claims":{"count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","strong_count":0},"builder_version":"pith-number-builder-2026-05-17-v1","claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"paper":{"abstract_excerpt":"In this paper we solve the hedge fund manager's optimization problem in a model that allows for investors to enter and leave the fund over time depending on its performance. The manager's payoff at the end of the year will then depend not just on the terminal value of the fund level, but also on the lowest and the highest value reached over that time. We establish equivalence to an optimal stopping problem for Brownian motion; by approximating this problem with the corresponding optimal stopping problem for a random walk we are led to a simple and efficient numerical scheme to find the solutio","authors_text":"L.C.G. Rogers, Moritz Duembgen","cross_cats":["math.OC"],"headline":"","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.PM","submitted_at":"2014-03-02T12:21:28Z","title":"Investing and Stopping"},"references":{"count":0,"internal_anchors":0,"resolved_work":0,"sample":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1403.0202","kind":"arxiv","version":1},"verdict":{"created_at":null,"id":null,"model_set":{},"one_line_summary":"","pipeline_version":null,"pith_extraction_headline":"","strongest_claim":"","weakest_assumption":""}},"verdict_id":null}}],"author_attestations":[],"timestamp_anchors":[],"storage_attestations":[],"citation_signatures":[],"replication_records":[],"corrections":[],"mirror_hints":[],"record_created":{"event_id":"sha256:d48076238f205f703b9dab2a8744ca86940aac3ac158075028831bd7538f6ab7","target":"record","created_at":"2026-05-18T02:57:25Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"attestation_state":"computed","canonical_record":{"metadata":{"abstract_canon_sha256":"4a18e54cc50d363f00eef142d98885a99c68561bef64237afecd4ed82d32f693","cross_cats_sorted":["math.OC"],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.PM","submitted_at":"2014-03-02T12:21:28Z","title_canon_sha256":"247f390b19a050af6bfc6217570a427e46bf0aa948c3468f80d8e08aa444fd5e"},"schema_version":"1.0","source":{"id":"1403.0202","kind":"arxiv","version":1}},"canonical_sha256":"3e6f80b7a811a0af882c51511b22d5f3409e763711fe56c2cc8ee92c3a5b8840","receipt":{"algorithm":"ed25519","builder_version":"pith-number-builder-2026-05-17-v1","canonical_sha256":"3e6f80b7a811a0af882c51511b22d5f3409e763711fe56c2cc8ee92c3a5b8840","first_computed_at":"2026-05-18T02:57:25.476541Z","key_id":"pith-v1-2026-05","kind":"pith_receipt","last_reissued_at":"2026-05-18T02:57:25.476541Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","receipt_version":"0.3","signature_b64":"KsXb1Gj2ifKEN1nYTkqyTOmHLKlC1AvvssERfCFJZiPDMX/S9dzTcUw2N+XVviibl1reWrHhpwjabUNRfFn9Dw==","signature_status":"signed_v1","signed_at":"2026-05-18T02:57:25.477214Z","signed_message":"canonical_sha256_bytes"},"source_id":"1403.0202","source_kind":"arxiv","source_version":1}}},"equivocations":[],"invalid_events":[],"applied_event_ids":["sha256:d48076238f205f703b9dab2a8744ca86940aac3ac158075028831bd7538f6ab7","sha256:48b28361afcc108ebf236db89460a3d8dbd0a1aed3e370a6fc819d24dd200147"],"state_sha256":"f59067d950c77a33cda4073181e2def3527c7b40958dc527ce4fe5f72ea2dc8e"},"bundle_signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"4f3AynKEy/TShhfm2Q4VcwLP4OhpBxJZLVoPF4fAd5LLmO/uby13QJZMk8WCaNtW17qRbXO0qjkva5b4jQovCQ==","signed_message":"bundle_sha256_bytes","signed_at":"2026-06-05T16:00:56.627492Z","bundle_sha256":"12c2b6ce8f5ae145d332c348fef2dd68106302833a611aaa6c630501636565dd"}}