In this paper, we study the price of catastrophe Options with counterparty credit risk in a reduced form model. We assume that the loss process is generated by a doubly stochastic Poisson process, the share price proc...In this paper, we study the price of catastrophe Options with counterparty credit risk in a reduced form model. We assume that the loss process is generated by a doubly stochastic Poisson process, the share price process is modeled through a jump-diffusion process which is correlated to the loss process, the interest rate process and the default intensity process are modeled through the Vasicek model： We derive the closed form formulae for pricing catastrophe options in a reduced form model. Furthermore, we make some numerical analysis on the explicit formulae.展开更多
An infiltration measurement device was developed to research the infiltration process of molten AZ91D magnesium alloy into the Al2O3 short fibre preform.The variation of relationship between the heights of measuring p...An infiltration measurement device was developed to research the infiltration process of molten AZ91D magnesium alloy into the Al2O3 short fibre preform.The variation of relationship between the heights of measuring points and the time for molten alloy to reach the measuring points was illustrated.The effect of infiltration process parameters on the infiltration front was analyzed. It is found that pressure and pouring temperature are the most important factors which affect the infiltration velocity and composite quality.Furthermore,considering the influence of temperature field,an infiltration model of molten AZ91D into the short fibre preform was constructed on the basis of experimental results and Darcy’s Law.The analysis shows that the results predicted by this model are consistent with the experimental results.展开更多
Climate change is widely recognized as the major environmental problem facing the globe today. One of the most urgent environmental problems facing shipping industry is the reduction of GHG （greenhouse gas） emission...Climate change is widely recognized as the major environmental problem facing the globe today. One of the most urgent environmental problems facing shipping industry is the reduction of GHG （greenhouse gas） emissions from its operations. Given the growing concern of the international community on ＂the deep reduction of global GHG emissions＂, it cannot be expected that the non-regulation of maritime GHG emissions can further continue. This paper investigates the main challenges and threats of the development of two MBMs （market-based measures） for the reduction of GHG emissions from international shipping, i.e., the ＂global levy scheme on maritime GHG emissions＂ and the ＂maritime emission trading scheme＂. A SWOT （strengths weaknesses opportunities threat） analysis is used, in this survey, to evaluate the environmental effectiveness as well as the easiness of implementation of the two policy options. Moreover, we make apparent their strengths and weaknesses concerning abatement of maritime GHG emissions. Given the fact that the discussion regarding the implementation of some MBMs with maritime GHG-emission reduction potential is still carried out with the exception of EEDI （energy efficiency design index） and SEEMP （ship energy efficiency management plan）, this paper＇s results present special significance, as they could be further analyzed and taken into account during the adoption of any future MBM for the reduction of maritime GHG emissions.展开更多
A new two-stage reduced-dimension space-time adaptiveprocessing （STAP） approach, which combines the subcoherentprocessing interval （sub-CPI） STAP and the principalcomponent analysis （PCA）, is proposed to achieve...A new two-stage reduced-dimension space-time adaptiveprocessing （STAP） approach, which combines the subcoherentprocessing interval （sub-CPI） STAP and the principalcomponent analysis （PCA）, is proposed to achieve a more enhancedconvergence measure of effectiveness （MOE）. Furthermore,in the case of the subspace leakage phenomenon, theproposed STAP method is modified to hold the fast convergenceMOE by using the covariance matrix taper （CMT） technique. Bothsimulation and real airborne radar data processing are providedto analyze the convergence MOE performance of the proposedSTAP methods. The results show the proposed method is moresuitable for the practical radar applications when compared withthe conventional sub-CPI STAP method.展开更多
Facing the contradiction of water scarcity and water wastage in most cities of China, this study aims at probing into the factors influencing water-use efficiency and assessing water-saving potential by adopting press...Facing the contradiction of water scarcity and water wastage in most cities of China, this study aims at probing into the factors influencing water-use efficiency and assessing water-saving potential by adopting pressure control measures based on field survey conducted in 23 high-rise buildings in Suqian, China and laboratory tests. Results showed that per capita water consumption (PCWC) exceeding water consumption norms is common in these buildings. The hourly water consumption variation law is quite different among different types of buildings. These differences should be considered in designing building water supply systems to lower water and energy consumption. On the basis of correlation analysis, the order of factors influencing the PCWC follows average tap water pressure, percapita building area, and building age, suggesting pressure management in high-rise buildings is a key water-saving measure. Field tests of outflow characteristics under different water pressures indicated that over-pressure outflow (OPO) is a common cause of water wastage in buildings, however, no branch pipe pressure control measures were found in all the surveyed buildings. Laboratory tests showed that branch pipe pressure-reducing measures can lower water consumption and improve the comfortability of use as well. Therefore, in addition to applying high efficiency water-saving devices, we strongly recommend that branch pipe pressure-reducing measures should be strictly implemented in designing new building water supply systems and reconstruction of existing old building water supply systems, thereby, promoting water, energy saving and development of green building.展开更多
基金supported by the National Natural Science Foundation of China(11371274)
文摘In this paper, we study the price of catastrophe Options with counterparty credit risk in a reduced form model. We assume that the loss process is generated by a doubly stochastic Poisson process, the share price process is modeled through a jump-diffusion process which is correlated to the loss process, the interest rate process and the default intensity process are modeled through the Vasicek model： We derive the closed form formulae for pricing catastrophe options in a reduced form model. Furthermore, we make some numerical analysis on the explicit formulae.
基金Project(50575185) supported by the National Natural Science Foundation of ChinaProject(CX201011) supported by the Doctorate Foundation of Northwestern Polytechnical University
文摘An infiltration measurement device was developed to research the infiltration process of molten AZ91D magnesium alloy into the Al2O3 short fibre preform.The variation of relationship between the heights of measuring points and the time for molten alloy to reach the measuring points was illustrated.The effect of infiltration process parameters on the infiltration front was analyzed. It is found that pressure and pouring temperature are the most important factors which affect the infiltration velocity and composite quality.Furthermore,considering the influence of temperature field,an infiltration model of molten AZ91D into the short fibre preform was constructed on the basis of experimental results and Darcy’s Law.The analysis shows that the results predicted by this model are consistent with the experimental results.
文摘Climate change is widely recognized as the major environmental problem facing the globe today. One of the most urgent environmental problems facing shipping industry is the reduction of GHG （greenhouse gas） emissions from its operations. Given the growing concern of the international community on ＂the deep reduction of global GHG emissions＂, it cannot be expected that the non-regulation of maritime GHG emissions can further continue. This paper investigates the main challenges and threats of the development of two MBMs （market-based measures） for the reduction of GHG emissions from international shipping, i.e., the ＂global levy scheme on maritime GHG emissions＂ and the ＂maritime emission trading scheme＂. A SWOT （strengths weaknesses opportunities threat） analysis is used, in this survey, to evaluate the environmental effectiveness as well as the easiness of implementation of the two policy options. Moreover, we make apparent their strengths and weaknesses concerning abatement of maritime GHG emissions. Given the fact that the discussion regarding the implementation of some MBMs with maritime GHG-emission reduction potential is still carried out with the exception of EEDI （energy efficiency design index） and SEEMP （ship energy efficiency management plan）, this paper＇s results present special significance, as they could be further analyzed and taken into account during the adoption of any future MBM for the reduction of maritime GHG emissions.
基金supported by the National Natural Science Foundation of China(611011296122700161301089)
文摘A new two-stage reduced-dimension space-time adaptiveprocessing （STAP） approach, which combines the subcoherentprocessing interval （sub-CPI） STAP and the principalcomponent analysis （PCA）, is proposed to achieve a more enhancedconvergence measure of effectiveness （MOE）. Furthermore,in the case of the subspace leakage phenomenon, theproposed STAP method is modified to hold the fast convergenceMOE by using the covariance matrix taper （CMT） technique. Bothsimulation and real airborne radar data processing are providedto analyze the convergence MOE performance of the proposedSTAP methods. The results show the proposed method is moresuitable for the practical radar applications when compared withthe conventional sub-CPI STAP method.
文摘Facing the contradiction of water scarcity and water wastage in most cities of China, this study aims at probing into the factors influencing water-use efficiency and assessing water-saving potential by adopting pressure control measures based on field survey conducted in 23 high-rise buildings in Suqian, China and laboratory tests. Results showed that per capita water consumption (PCWC) exceeding water consumption norms is common in these buildings. The hourly water consumption variation law is quite different among different types of buildings. These differences should be considered in designing building water supply systems to lower water and energy consumption. On the basis of correlation analysis, the order of factors influencing the PCWC follows average tap water pressure, percapita building area, and building age, suggesting pressure management in high-rise buildings is a key water-saving measure. Field tests of outflow characteristics under different water pressures indicated that over-pressure outflow (OPO) is a common cause of water wastage in buildings, however, no branch pipe pressure control measures were found in all the surveyed buildings. Laboratory tests showed that branch pipe pressure-reducing measures can lower water consumption and improve the comfortability of use as well. Therefore, in addition to applying high efficiency water-saving devices, we strongly recommend that branch pipe pressure-reducing measures should be strictly implemented in designing new building water supply systems and reconstruction of existing old building water supply systems, thereby, promoting water, energy saving and development of green building.
