Non-Arbitrage Models of Financial Markets

In the first part of the paper, we construct the models of the complete non-arbitrage financial markets for a wide class of evolutions of risky assets.This construction is based on the observation that for a certain class of risky as set evolutions the martingale measure is invariant with respect to these evolutions. For such a financial market model the only martingale measure being equivalent to an initial measure is built. On such a financial market,formulas for the fair price of contingent liabilities are presented. A multi-parameter model of the financial market is proposed, the martingale measure of which does not depend on the parameters of the model of the evolution of risky assets and is the only one.

Preliminary Study of Landslide Susceptibility Modeling with Random Forest Algorithm Using R (Case Study: the Cisangkuy Sub-watershed)

Landslide susceptibility mapping is an initial measure in the landslide hazard mitigation. This study aims to evaluate landslide susceptibility in the Cisangkuy Sub-watershed, a part of Bandung Basin. Twenty-seven landslide variables were involved in this modeling derived from various data sources. As a target, 25 landslide polygons obtained through a visual interpretation of Google Earth timeseries images and 33 landslide points obtained from a field survey and an official landslide report, were used as landslide inventory data. All spatial data were prepared in the same cell size referring to the highest spatial resolution of data involved in this modeling, i.e., 8.34 m. Fifty-eight (58) landslide locations covering an area of 0.87 Ha are equivalent to 1040 cells in the raster format. In total, 2040 samples consisting of landslides and non-landslides with the same ratio, were trained using random forest algorithm. Non-landslides were sampled randomly from landslide-free cells. This modeling was executed using R environment. In this study, the result was two labels, susceptible and non-susceptible. This model provided an excellent performance, its accuracy reached 98.56%. This research needs an improvement to provide a probability that has a range of 0 to 1 to show the level of landslide susceptibility.

Effectiveness and Utility of Visual Scene Displays as Communication Supports for Adults and Children With Complex Communication Needs: Perspectives of Clinicians and Researchers

Purpose The aims of this research study were to describe the perspectives of clinicians and researchers regarding the effectiveness of visual scene displays (VSDs) as communication supports in order to inform the translation of research to clinical practice. Method An online survey was completed by 298 clinicians and nine VSD researchers. Participants rated the effectiveness of VSDs in supporting a variety of communication functions and their strength of agreement regarding statements of VSD utility. Results Regardless of population served, clinicians and researchers rated VSDs as effective at supporting a range of communication functions. Participants also tended to agree with statements of VSD utility. Conclusions The current study highlights the perceptions of clinicians and researchers regarding the uses and benefits of VSDs for adults and children with complex communication needs and provides an initial measure of the current translation of research to clinical practice. Results indicate that VSDs can be used to support a variety of communication functions and utilities; however, further work is necessary to explore additional communication functions and delineate similarities and differences of VSD uses for differing populations. Supplemental Material https://doi.org/10.23641/asha.14551344

Compilation of Humor Scale for Applied Undergraduates in Fuzhou

The objective of this study aims at developing measure scale of sense of humor (SOH). The initial measure items were collected by reverent literature review of previous studies. Data was collected by questionnaire survey from an applied college and a total of 350 valid samples were received with a responded rate of 83%. The results of structure equation modeling (SEM) showed that the adequately reliability and validity of the scale could be met. Furthermore, five factors named humor creation, humor applied, humor attitude, humor collection, and humor copy were extracted from twenty measure items. Finally some suggestions were drawn to the college.

On Mean Field Games models for exhaustible commodities trade

We investigate a mean field game model for the production of exhaustible resources. In this model, firms produce comparable goods, strategically set their production rate in order to maximise profit, and leave the market as soon as they deplete their capacities. We examine the related Mean Field Game system and prove well-posedness for initial measure data by deriving suitable a priori estimates. Then, we show that feedback strategies which are computed from the Mean Field Game system provideε-Nash equilibria to the correspondingN-Player Cournot game, for large values ofN. This is done by showing tightness of the empirical process in the Skorokhod M 1 topology, which is defined for distribution-valued processes.

The Zero-Energy Idea in Districts: Application of a Methodological Approach to a Case Study of Epinlieu (Mons)

Rapidly increasing global energy demand has raised concerns about the exhaustion of energy resources and the consequent heavy environmental impact. Improving energy efficiency in cities comprises an initial measure for addressing these phenomena. Within the current context of globalization, EU initiatives and policy targets have been proposed in order to revise urban development strategies and motivate its member states (MSes) toward “zero-energy objectives”. Providing a methodological approach with a simulation district analysis, the present article summarizes how this challenge was analyzed in an existing district in Belgium. This study contributes to the scientific discussion by analyzing the applicability of a holistic approach to zero-energy objectives on a larger scale.

First displacement time of a tagged particle in a stochastic cluster in a simple exclusion process with random slow bonds

We consider the nearest-neighbour simple exclusion process on the one-dimensional discrete torus $\mathbb{T}_N=\mathbb{Z}/N\mathbb{Z}$ , with random rates $c_N=\{c_{x,N}\colon x \in \mathbb{T}_N\}$ defined in terms of a homogeneous Poisson process on $\mathbb{R}$ with intensity $\lambda$ . Given a realization of the Poisson process, the jump rate along the edge $\{x,x+1\}$ is 1 if there is not any Poisson mark in $ (x,x+1) $ ; otherwise, it is $\lambda/N,\, \lambda \in( 0,1]$ . The density profile of this process with initial measure associated to an initial profile $\rho_0\colon \mathbb{R} \rightarrow [0,1]$ , evolves as the solution of a bounded diffusion random equation. This result follows from an appropriate quenched hydrodynamic limit. If $\lambda=1$ then $\rho$ is discontinuous at each Poisson mark with passage through the slow bonds, otherwise the conductance at the slow bonds decreases meaning no passage through the slow bonds in the continuum. The main results are concerned with upper and lower quenched and annealed bounds of $T_j$ , where $T_j$ is the first displacement time of a tagged particle in a stochastic cluster of size j (the cluster is defined via specific macroscopic density profiles). It is possible to observe that when time t grows, then $\mathbb{P}\{T_j \geq t\}$ decays quadratically in both the upper and lower bounds, and falls as slow as the presence of more Poisson marks neighbouring the tagged particle, as expected.

The time credit system: the panacea for a life course approach?

This chapter focuses on a type of leave system that developed in Belgium from the mid-1980s on, and discusses in particular its developments since the year 2000 until 2017. The ‘career break’ system (later renamed the ‘time credit’ system in the private sector) gradually extended and developed into an opportunity for employees to develop in principle a kind of time management over their entire working life course. The chapter starts by examining the introduction of this system in Belgium, including the political rhetoric and the narratives legitimizing the initial measure and its subsequent adaptations, and its stated aims and objectives. The use of this type of leave is also examined. The chapter then considers various inequalities within the time credit system, with a specific focus on gender, age, region of residence, migrants, and labour market positioning. The conclusion reflects on current (and growing) inequalities in access to the time credit system due to the weakening of the wage society, and the challenge of creating a more inclusive system, not only in terms of gender, but also class, employment status and ethnicity.