In the present study, a new approach is applied to the cavity prediction for two-dimensional （2D） hydrofoils by the potential based boundary element method （BEM）. The boundary element method is treated with the so...In the present study, a new approach is applied to the cavity prediction for two-dimensional （2D） hydrofoils by the potential based boundary element method （BEM）. The boundary element method is treated with the source and doublet distributions on the panel surface and cavity surface by usethe of the Dirichlet type boundary conditions. An iterative solution approach is used to determine the cavity shape on partially cavitating hydrofoils. In the case of a specified cavitation number and cavity length, the iterative solution method proceeds by addition or subtraction of a displacement thickness on the cavity surface of the hydrofoil. The appropriate cavity shape is obtained by the dynamic boundary condition of the cavity surface and the kinematic boundary condition of the whole foil surface including the cavity. For a given cavitation number the cavity length of the 2D hydrofoil is determined according to the minimum error criterion among different cavity lengths, which satisfies the dynamic boundary condition on the cavity surface. The NACA 16006, NACA 16012 and NACA 16015 hydrofoil sections are investigated for two angles of attack. The results are compared with other potential based boundary element codes, the PCPAN and a commercial CFD code （FLUENT）. Consequently, it has been shown that the results obtained from the two dimensional approach are consistent with those obtained from the others.展开更多
This paper investigates the pricing of options written on non-traded assets and trading strategies for the stock and option in an exponential utility maximization framework.Under the assumption that the option can be ...This paper investigates the pricing of options written on non-traded assets and trading strategies for the stock and option in an exponential utility maximization framework.Under the assumption that the option can be continuously traded without friction just as the stock,a dynamic relationship between their optimal positions is derived by using the stochastic dynamic programming techniques.The dynamic option pricing equations are also established.In particular,the properties of the associated solutions are discussed and their explicit representations are demonstrated via the Feynman-Kac formula.This paper further compares the dynamic option price to the existing price notions,such as the marginal price and indifference price.展开更多
基金Supported by the Yildiz Technical University Scientific Research Projects Coordination Department.Project Number:2012-10-01 KAP 02
文摘In the present study, a new approach is applied to the cavity prediction for two-dimensional （2D） hydrofoils by the potential based boundary element method （BEM）. The boundary element method is treated with the source and doublet distributions on the panel surface and cavity surface by usethe of the Dirichlet type boundary conditions. An iterative solution approach is used to determine the cavity shape on partially cavitating hydrofoils. In the case of a specified cavitation number and cavity length, the iterative solution method proceeds by addition or subtraction of a displacement thickness on the cavity surface of the hydrofoil. The appropriate cavity shape is obtained by the dynamic boundary condition of the cavity surface and the kinematic boundary condition of the whole foil surface including the cavity. For a given cavitation number the cavity length of the 2D hydrofoil is determined according to the minimum error criterion among different cavity lengths, which satisfies the dynamic boundary condition on the cavity surface. The NACA 16006, NACA 16012 and NACA 16015 hydrofoil sections are investigated for two angles of attack. The results are compared with other potential based boundary element codes, the PCPAN and a commercial CFD code （FLUENT）. Consequently, it has been shown that the results obtained from the two dimensional approach are consistent with those obtained from the others.
基金supported by the National Basic Research Program of China(973 Program)under Grant No.2007CB814901the National Natural Science Foundation of China under Grant Nos.11101215 and 61304065the Program of Natural Science Research of Jiangsu Higher Education Institutions of China under GrantNo.12KJB110011
文摘This paper investigates the pricing of options written on non-traded assets and trading strategies for the stock and option in an exponential utility maximization framework.Under the assumption that the option can be continuously traded without friction just as the stock,a dynamic relationship between their optimal positions is derived by using the stochastic dynamic programming techniques.The dynamic option pricing equations are also established.In particular,the properties of the associated solutions are discussed and their explicit representations are demonstrated via the Feynman-Kac formula.This paper further compares the dynamic option price to the existing price notions,such as the marginal price and indifference price.
