Option pricing has become one of the quite important parts of the financial market. As the market is always dynamic, it is really difficult to predict the option price accurately. For this reason, various machine lear...Option pricing has become one of the quite important parts of the financial market. As the market is always dynamic, it is really difficult to predict the option price accurately. For this reason, various machine learning techniques have been designed and developed to deal with the problem of predicting the future trend of option price. In this paper, we compare the effectiveness of Support Vector Machine (SVM) and Artificial Neural Network (ANN) models for the prediction of option price. Both models are tested with a benchmark publicly available dataset namely SPY option price-2015 in both testing and training phases. The converted data through Principal Component Analysis (PCA) is used in both models to achieve better prediction accuracy. On the other hand, the entire dataset is partitioned into two groups of training (70%) and test sets (30%) to avoid overfitting problem. The outcomes of the SVM model are compared with those of the ANN model based on the root mean square errors (RMSE). It is demonstrated by the experimental results that the ANN model performs better than the SVM model, and the predicted option prices are in good agreement with the corresponding actual option prices.展开更多
This study examined the factors associated with financial support in old age from three primary mechanisms-personal savings,family support,and social insurance-to explore the implications for the future development of...This study examined the factors associated with financial support in old age from three primary mechanisms-personal savings,family support,and social insurance-to explore the implications for the future development of China's rural social welfare system.Cross-sectional surveys of 1392 young and middle-aged rural residents were conducted in July and August2012.The results showed that while social insurance was increasingly acceptable,personal savings and family support still had fundamental value.Combining the three mechanisms,the rural old-age welfare system presented nontraditional features.China's new rural endowment insurance is discussed as a means to address the need for financial support among the rural aging population.展开更多
文摘Option pricing has become one of the quite important parts of the financial market. As the market is always dynamic, it is really difficult to predict the option price accurately. For this reason, various machine learning techniques have been designed and developed to deal with the problem of predicting the future trend of option price. In this paper, we compare the effectiveness of Support Vector Machine (SVM) and Artificial Neural Network (ANN) models for the prediction of option price. Both models are tested with a benchmark publicly available dataset namely SPY option price-2015 in both testing and training phases. The converted data through Principal Component Analysis (PCA) is used in both models to achieve better prediction accuracy. On the other hand, the entire dataset is partitioned into two groups of training (70%) and test sets (30%) to avoid overfitting problem. The outcomes of the SVM model are compared with those of the ANN model based on the root mean square errors (RMSE). It is demonstrated by the experimental results that the ANN model performs better than the SVM model, and the predicted option prices are in good agreement with the corresponding actual option prices.
基金supported by some projects from Chinese central universities'basic scientific research[Grant No.SKZD201206]Humanities and Social Sciences Project from Education Ministry[grant number:13YJC630131]Nanjing Agricultural University Social Science Fund[Grant No.SK2012006]
文摘This study examined the factors associated with financial support in old age from three primary mechanisms-personal savings,family support,and social insurance-to explore the implications for the future development of China's rural social welfare system.Cross-sectional surveys of 1392 young and middle-aged rural residents were conducted in July and August2012.The results showed that while social insurance was increasingly acceptable,personal savings and family support still had fundamental value.Combining the three mechanisms,the rural old-age welfare system presented nontraditional features.China's new rural endowment insurance is discussed as a means to address the need for financial support among the rural aging population.
