Research
The construction studies and calibration runs behind the standard, kept apart from it.
RESEARCH · NOT THE CORE STANDARD
Research extension. This page is a study, not a measurement. The core standard is CEBE, Senior Claims %, CEBE mNAV and Claims Grade, each published with its formula and date. Studies here test priors against outcomes and can be retired; retired studies stay on the site with their correction notes. Nothing on this page enters a tracker figure.
The construction
- Adjusted Claims % Specification v1 What the layer is, what it may touch, and the absence rules it follows.
- Moneyness priors v1 The stated priors the conversion weight is computed from.
- The conversion weight Convertible claims weighted continuously by moneyness instead of counted all or nothing.
The calibration studies
- Calibration 1 The first run at the section 8 gate, and the finding that failed it.
- Calibration 1 ruling log Every ruling made during the run, in the order it was made.
- Calibration 2 The rulebook for the second run, published before any candidate was scored.
- Calibration 3 Registration, the confirmation run, and the admission that followed.
- Calibration D1 Pre-registration and seal-break scoring for the delivery weighting layer.
The sealed registrations
- Cal-num-4 Champion selection. The sealed registration, verbatim, with its source hash.
- Cal-num-5 and 6 The generalization ladder. The sealed text and its dated amendments, verbatim, with its source hash.
- Cal-den-2 The delivery registration. The sealed text, verbatim, with its source hash.
- Con-den-1 The delivery findings and tables that Cal-den-2 carries in as its priors under test.
- External review, 2026-09-02 The external cold review of the calibration program, in full.
The core standard lives on the tracker, the company pages and the stack, and its construction is documented on the methodology page.