An alternative option pricing method is proposed based on a random walk market model. The minimal entropy martingale measure which adopts no arbitrage opportunity in the market, is deduced for this market model and is...An alternative option pricing method is proposed based on a random walk market model. The minimal entropy martingale measure which adopts no arbitrage opportunity in the market, is deduced for this market model and is used as the pricing measure to evaluate European call options by a Monte Carlo simulation method. The proposed method is a purely data driven valuation method without any distributional assumption about the price process of underlying asset. The performance of the proposed method is compared with the canonical valuation method and the historical volatility-based Black-Scholes method in an artificial Black-Scholes world. The simulation results show that the proposed method has merits, and is valuable to financial engineering.展开更多
This study is to investigate what factors and how they affect tours (trip chains) behavior. The key issue is the understanding and definition of tour and tour level mode. Also, these definitions should fit for the dat...This study is to investigate what factors and how they affect tours (trip chains) behavior. The key issue is the understanding and definition of tour and tour level mode. Also, these definitions should fit for the data. A semi-home based tour definition is stated, and a competing mode based tour mode is defined. Based on the definition, this study used Madison Area Data from National Household Survey to estimate a MNL structured model. It is found that travel distance could be a positive factor for car mode. Meanwhile, the number of trips is also a positive factor for choosing car.展开更多
The twin Higgs mechanism has recently been proposed to solve the little hierarchy problem. In the context of the left-right twin Higgs （LRTH） model, we discuss single production of the new charged gauge boson WH^- ,...The twin Higgs mechanism has recently been proposed to solve the little hierarchy problem. In the context of the left-right twin Higgs （LRTH） model, we discuss single production of the new charged gauge boson WH^- , which is predicted by the left-right twin Higgs model, in association with top quark at the CERN Large Hadron Collider （LHC）. It is found that, for a typical nonzero value of mass mixing parameter M = 150 GeV in the LRTH model, the production cross section is in the range of 3 ×10^-2 - 6.07×10^3 fb at the LHC. As long as the WH^- is not too heavy, the possible signatures of the heavy charged gauge boson might be detected at the LHC experiments.展开更多
As complex traits evolve, each component of the trait may be under different selection pressures and could respond independently to distinct evolutionary forces. We used comparative methods to examine patterns of evol...As complex traits evolve, each component of the trait may be under different selection pressures and could respond independently to distinct evolutionary forces. We used comparative methods to examine patterns of evolution in multiple components of a complex courtship signal in darters, specifically addressing the question of how nuptial coloration evolves across different areas of the body. Using spectral reflectance, we defined 4 broad color classes present on the body and fins of 17 species of freshwater fishes （genus Etheostoma） and quantified differences in hue within each color class. Ancestral state reconstruction suggests that most color traits were expressed in the most recent common ancestor of sampled species and that differences among species are mostly due to losses in coloration. The evolutionary lability of coloration varied across body regions; we found sig- nificant phylogenetic signal for orange color on the body but not for most colors on fins. Finally, patterns of color evolution and hue Of the colors were correlated among the two dorsal fins and between the anterior dorsal and anal fins, but not between any of the fins and the body. The observed patterns support the hypothesis that different components of complex signals may be subject to distinct evolutionary pressures, and suggests that the combination of behavioral displays and morphology in communication may have a strong influence on patterns of signal evolution .展开更多
基金Funded by the Natural Science Foundation of China under Grant No.10571065.
文摘An alternative option pricing method is proposed based on a random walk market model. The minimal entropy martingale measure which adopts no arbitrage opportunity in the market, is deduced for this market model and is used as the pricing measure to evaluate European call options by a Monte Carlo simulation method. The proposed method is a purely data driven valuation method without any distributional assumption about the price process of underlying asset. The performance of the proposed method is compared with the canonical valuation method and the historical volatility-based Black-Scholes method in an artificial Black-Scholes world. The simulation results show that the proposed method has merits, and is valuable to financial engineering.
文摘This study is to investigate what factors and how they affect tours (trip chains) behavior. The key issue is the understanding and definition of tour and tour level mode. Also, these definitions should fit for the data. A semi-home based tour definition is stated, and a competing mode based tour mode is defined. Based on the definition, this study used Madison Area Data from National Household Survey to estimate a MNL structured model. It is found that travel distance could be a positive factor for car mode. Meanwhile, the number of trips is also a positive factor for choosing car.
基金The project supported by National Natural Science Foundation of China under Grant Nos.10775039 and 10575029
文摘The twin Higgs mechanism has recently been proposed to solve the little hierarchy problem. In the context of the left-right twin Higgs （LRTH） model, we discuss single production of the new charged gauge boson WH^- , which is predicted by the left-right twin Higgs model, in association with top quark at the CERN Large Hadron Collider （LHC）. It is found that, for a typical nonzero value of mass mixing parameter M = 150 GeV in the LRTH model, the production cross section is in the range of 3 ×10^-2 - 6.07×10^3 fb at the LHC. As long as the WH^- is not too heavy, the possible signatures of the heavy charged gauge boson might be detected at the LHC experiments.
基金Acknowledgements We thank Michael Martin, Tory Williams, and Alex Nahm for assistance in collecting fishes and the Mendelson lab for assistance in fish maintenance. We thank Chioma Ihekweazu for assistance with spectral analysis. We also thank Karen Carleton for use of the software to calculate spectral location. Tom Cronin, Kevin Omland, Megan Porter, Kate Feller, Nick Friedman and Brian Dalton provided helpful discussions throughout the course of this work. We thank two anonymous reviewers and the editor for their helpful comments on previous versions of this manuscript. We especially thank Eileen Hebets for the invitation to submit to this special issue. This work was funded through a National Science Foundation grant to TCM （#DEB 0718987）. Additional support for this work came from the NSF, NCEAS and NESCENT funded ＂Comparative Phylogenetics in R＂ workshop attended by JMG.
文摘As complex traits evolve, each component of the trait may be under different selection pressures and could respond independently to distinct evolutionary forces. We used comparative methods to examine patterns of evolution in multiple components of a complex courtship signal in darters, specifically addressing the question of how nuptial coloration evolves across different areas of the body. Using spectral reflectance, we defined 4 broad color classes present on the body and fins of 17 species of freshwater fishes （genus Etheostoma） and quantified differences in hue within each color class. Ancestral state reconstruction suggests that most color traits were expressed in the most recent common ancestor of sampled species and that differences among species are mostly due to losses in coloration. The evolutionary lability of coloration varied across body regions; we found sig- nificant phylogenetic signal for orange color on the body but not for most colors on fins. Finally, patterns of color evolution and hue Of the colors were correlated among the two dorsal fins and between the anterior dorsal and anal fins, but not between any of the fins and the body. The observed patterns support the hypothesis that different components of complex signals may be subject to distinct evolutionary pressures, and suggests that the combination of behavioral displays and morphology in communication may have a strong influence on patterns of signal evolution .
