Deepwater oil and gas projects embody high risks from geology and engineering aspects, which exert substantial influence on project valuation. But the uncer- tainties may be converted to additional value to the projec...Deepwater oil and gas projects embody high risks from geology and engineering aspects, which exert substantial influence on project valuation. But the uncer- tainties may be converted to additional value to the projects in the case of flexible management. Given the flexibility of project management, this paper extends the classical real options model to a multi-factor model which contains oil price, geology, and engineering uncertainties. It then gives an application example of the new model to evaluate deepwater oil and gas projects with a numerical analytical method. Compared with other methods and models, this multi-factor real options model contains more project information. It reflects the potential value deriving not only from oil price variation but also from geology and engi- neering uncertainties, which provides more accurate and reliable valuation information for decision makers.展开更多
The analysis of company data useful for economic decisions,if not interpreted in an overall view of the company situation,can lead to wrong conclusions.This is the case when a company has to choose between several sal...The analysis of company data useful for economic decisions,if not interpreted in an overall view of the company situation,can lead to wrong conclusions.This is the case when a company has to choose between several sales options for one or more products in the presence of a limiting factor.The continuation of the investigation often denies the initial analysis.Not everything is as it appears,therefore,at the beginning of the deepening of the data useful for economic decisions.As it is well known,the choices of profitability concerning the planning of the sale of company products take place,at least in the majority of cases,through the determination of the contribution margin,i.e.the profitability margin connected to the individual goods/services sold by the companies(selling price net of variable costs).The contribution margin can be determined with four objectives:(1)Determination of the yield of the single product,net of variable costs only.In this case,the margin defines unitary,from net product yield to unitary contribution margin.(2)Determination of the return on total sales of an individual product,net of variable costs.In this hypothesis,reference is made to the first level(or gross)contribution margin.(3)Determination of the ability of the individual product to contribute to the coverage of fixed costs common to the company.This margin is determined net of special product variable and fixed costs.This aggregate is defined as a Level II(or semi-gross)margin.(4)Determination of the useful value in the planning choices in case of presence of scarce productive factors.In this case,it must identify the so-called unitary margin for low factor.Here we will only deal with the problem of the use of the contribution margin in the presence of rare factors.To complete the analysis,below are some very brief considerations regarding,respectively,the unitary,level I,and level II contribution margin in order to better understand where the problem of the most convenient choice of income is located in the event of the presence of rare production factors,especially in an environment characterized by a plurality of sales options.展开更多
This paper studies the critical exercise price of American floating strike lookback options under the mixed jump-diffusion model. By using It formula and Wick-It-Skorohod integral, a new market pricing model estab...This paper studies the critical exercise price of American floating strike lookback options under the mixed jump-diffusion model. By using It formula and Wick-It-Skorohod integral, a new market pricing model established under the environment of mixed jumpdiffusion fractional Brownian motion. The fundamental solutions of stochastic parabolic partial differential equations are estimated under the condition of Merton assumptions. The explicit integral representation of early exercise premium and the critical exercise price are also given, then the American floating strike lookback options factorization formula is obtained, the results is generalized the classical Black-Scholes market pricing model.展开更多
Tumor growth and metastasis depend on the establishment of tumor vasculature to provide oxygen,nutrients,and other essential factors.The well-known vascular endothelial growth factor(VEGF) signaling is crucial for spr...Tumor growth and metastasis depend on the establishment of tumor vasculature to provide oxygen,nutrients,and other essential factors.The well-known vascular endothelial growth factor(VEGF) signaling is crucial for sprouting angiogenesis as well as recruitment of circulating progenitor endothelial cells to tumor vasculature,which has become therapeutic targets in clinical practice.However,the survival benefits gained from targeting VEGF signaling have been very limited,with the inevitable development of treatment resistance.In this article,we discuss the most recent findings and understanding on how solid tumors evade VEGF-targeted therapy,with a special focus on vessel co-option,vessel remodeling,and tumor cell-derived vasculature establishment.Vessel co-option may occur in tumors independently of sprouting angiogenesis,and sprouting angiogenesis is not always required for tumor growth.The differences between vessel-like structure and tubule-like structure formed by tumor cells are also introduced.The exploration of the underlying mechanisms of these alternative angiogenic approaches would not only widen our knowledge of tumor angiogenesis but also provide novel therapeutic targets for better controlling cancer growth and metastasis.展开更多
The passport option is a call option on the balance of a trading account. The option holder retains the gain from trading, while the issuer is liable for the net loss. In this article, the mathematical foundation for ...The passport option is a call option on the balance of a trading account. The option holder retains the gain from trading, while the issuer is liable for the net loss. In this article, the mathematical foundation for pricing the European passport option is established. The pricing equation which is a fully nonlinear equation is derived using the dynamic programming principle. The comparison principle, uniqueness and convexity preserving of the viscosity solutions of related H J13 equation are proved. A relationship between the passport and lookback options is discussed.展开更多
The Kirschner wires (K-wires) are stiff and straight wires made of smooth stainless steel. These are used in surgery to aid in repairing the process of a fractured bone. In forefoot elective surgeries, these pins are ...The Kirschner wires (K-wires) are stiff and straight wires made of smooth stainless steel. These are used in surgery to aid in repairing the process of a fractured bone. In forefoot elective surgeries, these pins are mostly used for fixation of the phalangeal or metatarsal area. These wires are usually either buried or exposed, The exposed wires do not require another operation to remove them and are generally preferred. In using the forefoot surgery history of a single surgeon which was taken for 3 years<span>.</span><span> The purpose of this study is to evaluate the occurrence of infections following elective surgeries of the forefoot that were fixed using k-pins and to indicate an effective treatment option for resolving the infection. The inclusion criteria set for this study was to remove any patient having any disease except for diabetes. Moreover, the age limit was set to be 18</span><span> </span><span>-</span><span> </span><span>44, making a final sample of 50 people, prescribed prophylactic antibiotics or early removal of k-pins, where necessary. The researcher recorded demographic and biological data from the patients such as age, BMI, and smoking status were recorded. The researcher conducted a Univariate analysis via a Chi-square test. 50</span><b><span> </span></b><span>Patients (82 K-wires) were analyzed. Results showed that surgery type, BMI, and smoking were three variables that affect the infection growth significantly while diabetes and type of cleaning disinfectant had marginal effects. Further study is required to clarify the best treatments in this area, as the treatment option antibiotics have nearly similar results.</span>展开更多
In this paper, we give the conception of implicit congruence and nonimplicit congruence in a unique factorization domain R and establish some structures of irreducible polynomials over R . A classical result, E...In this paper, we give the conception of implicit congruence and nonimplicit congruence in a unique factorization domain R and establish some structures of irreducible polynomials over R . A classical result, Eisenstein′s criterion, is generalized.展开更多
In 2023,Baishideng Publishing Group(Baishideng)routinely published 47 openaccess journals,including 46 English-language journals and 1 Chinese-language journal.Our successes were accomplished through the collective de...In 2023,Baishideng Publishing Group(Baishideng)routinely published 47 openaccess journals,including 46 English-language journals and 1 Chinese-language journal.Our successes were accomplished through the collective dedicated efforts of Baishideng staffs,Editorial Board Members,and Peer Reviewers.Among these 47 Baishideng journals,7 are included in the Science Citation Index Expanded(SCIE)and 6 in the Emerging Sources Citation Index(ESCI).With the support of Baishideng authors,company staffs,Editorial Board Members,and Peer Reviewers,the publication work of 2023 is about to be successfully completed.This editorial summarizes the 2023 activities and accomplishments of the 13 SCIEand ESCI-indexed Baishideng journals,outlines the Baishideng publishing policy changes and additions made this year,and highlights the unique advantages of Baishideng journals.展开更多
State functions play important roles in thermodynamics.Different from the process function,such as the exchanged heatδQ and the applied workδW,the change of the state function can be expressed as an exact differenti...State functions play important roles in thermodynamics.Different from the process function,such as the exchanged heatδQ and the applied workδW,the change of the state function can be expressed as an exact differential.We prove here that,for a generic thermodynamic system,only the inverse of the temperature,namely 1/T,can serve as the integration factor for the exchanged heatδQ.The uniqueness of the integration factor invalidates any attempt to define other state functions associated with the exchanged heat,and in turn,reveals the incorrectness of defining the entransy E_(vh)=CVT^(2)/2 as a state function by treating T as an integration factor.We further show the errors in the derivation of entransy by treating the heat capacity C_(V)as a temperature-independent constant.展开更多
A graph property is any class of graphs that is closed under isomorphisms, A graph property P is hereditary if it is closed under taking subgraphs; it is compositive if for any graphs
基金supported from the National Science and Technology Major Project under Grant No.2011ZX05030
文摘Deepwater oil and gas projects embody high risks from geology and engineering aspects, which exert substantial influence on project valuation. But the uncer- tainties may be converted to additional value to the projects in the case of flexible management. Given the flexibility of project management, this paper extends the classical real options model to a multi-factor model which contains oil price, geology, and engineering uncertainties. It then gives an application example of the new model to evaluate deepwater oil and gas projects with a numerical analytical method. Compared with other methods and models, this multi-factor real options model contains more project information. It reflects the potential value deriving not only from oil price variation but also from geology and engi- neering uncertainties, which provides more accurate and reliable valuation information for decision makers.
文摘The analysis of company data useful for economic decisions,if not interpreted in an overall view of the company situation,can lead to wrong conclusions.This is the case when a company has to choose between several sales options for one or more products in the presence of a limiting factor.The continuation of the investigation often denies the initial analysis.Not everything is as it appears,therefore,at the beginning of the deepening of the data useful for economic decisions.As it is well known,the choices of profitability concerning the planning of the sale of company products take place,at least in the majority of cases,through the determination of the contribution margin,i.e.the profitability margin connected to the individual goods/services sold by the companies(selling price net of variable costs).The contribution margin can be determined with four objectives:(1)Determination of the yield of the single product,net of variable costs only.In this case,the margin defines unitary,from net product yield to unitary contribution margin.(2)Determination of the return on total sales of an individual product,net of variable costs.In this hypothesis,reference is made to the first level(or gross)contribution margin.(3)Determination of the ability of the individual product to contribute to the coverage of fixed costs common to the company.This margin is determined net of special product variable and fixed costs.This aggregate is defined as a Level II(or semi-gross)margin.(4)Determination of the useful value in the planning choices in case of presence of scarce productive factors.In this case,it must identify the so-called unitary margin for low factor.Here we will only deal with the problem of the use of the contribution margin in the presence of rare factors.To complete the analysis,below are some very brief considerations regarding,respectively,the unitary,level I,and level II contribution margin in order to better understand where the problem of the most convenient choice of income is located in the event of the presence of rare production factors,especially in an environment characterized by a plurality of sales options.
基金Supported by the Fundamental Research Funds of Lanzhou University of Finance and Economics(Lzufe2017C-09)
文摘This paper studies the critical exercise price of American floating strike lookback options under the mixed jump-diffusion model. By using It formula and Wick-It-Skorohod integral, a new market pricing model established under the environment of mixed jumpdiffusion fractional Brownian motion. The fundamental solutions of stochastic parabolic partial differential equations are estimated under the condition of Merton assumptions. The explicit integral representation of early exercise premium and the critical exercise price are also given, then the American floating strike lookback options factorization formula is obtained, the results is generalized the classical Black-Scholes market pricing model.
基金supported by grants from the National Natural Science Foundation of China(No.81472386,81472380,81272340,and 81030043)the National High Technology Research and Development Program of China (863 Program,No.2012AA02A501)
文摘Tumor growth and metastasis depend on the establishment of tumor vasculature to provide oxygen,nutrients,and other essential factors.The well-known vascular endothelial growth factor(VEGF) signaling is crucial for sprouting angiogenesis as well as recruitment of circulating progenitor endothelial cells to tumor vasculature,which has become therapeutic targets in clinical practice.However,the survival benefits gained from targeting VEGF signaling have been very limited,with the inevitable development of treatment resistance.In this article,we discuss the most recent findings and understanding on how solid tumors evade VEGF-targeted therapy,with a special focus on vessel co-option,vessel remodeling,and tumor cell-derived vasculature establishment.Vessel co-option may occur in tumors independently of sprouting angiogenesis,and sprouting angiogenesis is not always required for tumor growth.The differences between vessel-like structure and tubule-like structure formed by tumor cells are also introduced.The exploration of the underlying mechanisms of these alternative angiogenic approaches would not only widen our knowledge of tumor angiogenesis but also provide novel therapeutic targets for better controlling cancer growth and metastasis.
基金supported in partby National Science Foundation of China (10371088,10671144)National Basic Research Program of China(2007CB814903)+3 种基金Development Funds of Shanghai Higher Education (05D210)the Special Funds for Major Specialties of Shanghai Education Committee (T0401)Supported by Special Fund for the Excellent Young Teachers of Shanghai Higher Learning Institutions (ssd08029)the Research Program of Shanghai Normal University (SK200812)
文摘The passport option is a call option on the balance of a trading account. The option holder retains the gain from trading, while the issuer is liable for the net loss. In this article, the mathematical foundation for pricing the European passport option is established. The pricing equation which is a fully nonlinear equation is derived using the dynamic programming principle. The comparison principle, uniqueness and convexity preserving of the viscosity solutions of related H J13 equation are proved. A relationship between the passport and lookback options is discussed.
文摘The Kirschner wires (K-wires) are stiff and straight wires made of smooth stainless steel. These are used in surgery to aid in repairing the process of a fractured bone. In forefoot elective surgeries, these pins are mostly used for fixation of the phalangeal or metatarsal area. These wires are usually either buried or exposed, The exposed wires do not require another operation to remove them and are generally preferred. In using the forefoot surgery history of a single surgeon which was taken for 3 years<span>.</span><span> The purpose of this study is to evaluate the occurrence of infections following elective surgeries of the forefoot that were fixed using k-pins and to indicate an effective treatment option for resolving the infection. The inclusion criteria set for this study was to remove any patient having any disease except for diabetes. Moreover, the age limit was set to be 18</span><span> </span><span>-</span><span> </span><span>44, making a final sample of 50 people, prescribed prophylactic antibiotics or early removal of k-pins, where necessary. The researcher recorded demographic and biological data from the patients such as age, BMI, and smoking status were recorded. The researcher conducted a Univariate analysis via a Chi-square test. 50</span><b><span> </span></b><span>Patients (82 K-wires) were analyzed. Results showed that surgery type, BMI, and smoking were three variables that affect the infection growth significantly while diabetes and type of cleaning disinfectant had marginal effects. Further study is required to clarify the best treatments in this area, as the treatment option antibiotics have nearly similar results.</span>
文摘In this paper, we give the conception of implicit congruence and nonimplicit congruence in a unique factorization domain R and establish some structures of irreducible polynomials over R . A classical result, Eisenstein′s criterion, is generalized.
文摘In 2023,Baishideng Publishing Group(Baishideng)routinely published 47 openaccess journals,including 46 English-language journals and 1 Chinese-language journal.Our successes were accomplished through the collective dedicated efforts of Baishideng staffs,Editorial Board Members,and Peer Reviewers.Among these 47 Baishideng journals,7 are included in the Science Citation Index Expanded(SCIE)and 6 in the Emerging Sources Citation Index(ESCI).With the support of Baishideng authors,company staffs,Editorial Board Members,and Peer Reviewers,the publication work of 2023 is about to be successfully completed.This editorial summarizes the 2023 activities and accomplishments of the 13 SCIEand ESCI-indexed Baishideng journals,outlines the Baishideng publishing policy changes and additions made this year,and highlights the unique advantages of Baishideng journals.
基金This work was supported by the National Natural Science Foundation of China(NSFC)(Grants No.11534002,No.12088101,No.U1530402,No.U1930403,No.11775001,No.11534002,and No.11825001)the National Basic Research Program of China(Grants No.2016YFA0301201).
文摘State functions play important roles in thermodynamics.Different from the process function,such as the exchanged heatδQ and the applied workδW,the change of the state function can be expressed as an exact differential.We prove here that,for a generic thermodynamic system,only the inverse of the temperature,namely 1/T,can serve as the integration factor for the exchanged heatδQ.The uniqueness of the integration factor invalidates any attempt to define other state functions associated with the exchanged heat,and in turn,reveals the incorrectness of defining the entransy E_(vh)=CVT^(2)/2 as a state function by treating T as an integration factor.We further show the errors in the derivation of entransy by treating the heat capacity C_(V)as a temperature-independent constant.
文摘A graph property is any class of graphs that is closed under isomorphisms, A graph property P is hereditary if it is closed under taking subgraphs; it is compositive if for any graphs
