The version 2.1 of PETROMAR-3D model, created in the Center for Marine Meteorology of the Meteorology Institute of Cuba, is presented. This Lagrangian model has been designed to describe the physical processes of mari...The version 2.1 of PETROMAR-3D model, created in the Center for Marine Meteorology of the Meteorology Institute of Cuba, is presented. This Lagrangian model has been designed to describe the physical processes of marine oil spills in the face of multiple scenarios of the marine environment. Although it is applicable to any part of the world, it is mainly designed for inter-American seas. The novelty has been to integrate the processes of drift and weathering into a model, with updated methods that incorporate 3D phenomena, a very favorable situation to achieve an operating system in Cuba and the region for the immediate and medium term. Python was chosen as the programming language because it has advanced libraries for numerical modeling, automation work and other useful tools for pre-and post-processing. By means of adapters, an important number of atmospheric, hydrodynamic and wave models have been considered to create the scenarios efficiently. The modular distribution in which the code has been created facilitates its use for other dispersion analysis and biophysical applications. Finally, a set of simple images are presented, aimed at informing decision-makers in order to mitigate the effects of the spill on the environment.展开更多
The relationships between plant organs and root hydrological traits are not well known and the question arises whether elevated CO2 changes these relationships. This study attempted to answer this question. A pseudo-r...The relationships between plant organs and root hydrological traits are not well known and the question arises whether elevated CO2 changes these relationships. This study attempted to answer this question. A pseudo-replicated experiment was conducted with two times 24 American elm （Ulmus americana L.） and 23 and 24 red oak （Quercus rubra L.） seedlings growing in ambient CO2 （around 360 μmol.L^-1） and 540 ± 7.95 μmol.L^-1 CO2 in a greenhouse. After 71 days of treatment for American elm and 77 days for red oak, 14 American elm and 12 red oak seedlings from each of the two CO2 levels were randomly selected in order to examine the flow rate of root xylem sap, root hydraulic conductance, total root hydraulic conductivity, fine root and coarse root hydraulic conductivity. All seedlings were harvested to investigate total plant biomass, stem biomass and leaf biomass, leaf area, height, basal diameter, total root biomass, coarse root biomass and fine root biomass. The following conclusions are reached： 1） plant organs respond to the elevated CO2 level earlier than hydraulic traits of roots and may gradually lead to changes in hydraulic traits; 2） plant organs have different relationships with hydraulic traits of roots and elevated CO2 changes these relationships; the changes may be of importance for plants as means to acclimatize to changing environments; 3） biomass of coarse roots increased rather more than that of fine roots; 4） Lorentzian and Caussian models are better in estimating the biomass of seedlings than single-variable models. Key words American elm, biomass, elevated CO2, modeling, red oak, root hydraulic traits展开更多
We present a parallel algorithm that computes the ask and bid prices of an American option when proportional transaction costs apply to trading in the underlying asset. The algorithm computes the prices on recombining...We present a parallel algorithm that computes the ask and bid prices of an American option when proportional transaction costs apply to trading in the underlying asset. The algorithm computes the prices on recombining binomial trees, and is designed for modern multi-core processors. Although parallel option pricing has been well studied, none of the existing approaches takes transaction costs into consideration. The algorithm that we propose partitions a binomial tree into blocks. In any round of computation a block is further partitioned into regions which are assigned to distinct processors. To minimise load imbalance the assignment of nodes to processors is dynamically adjusted before each new round starts. Synchronisation is required both within a round and between two successive rounds. The parallel speedup of the algorithm is proportional to the number of processors used. The parallel algorithm was implemented in C/C++ via POSIX Threads, and was tested on a machine with 8 processors. In the pricing of an American put option, the parallel speedup against an efficient sequential implementation was 5.26 using 8 processors and 1500 time steps, achieving a parallel efficiency of 65.75%.展开更多
In this paper, we use a modified path simulation method for valuation of Asian American Options. This method is a modification of the path simulation model proposed by Tiley. We assume that the behavior of the log ret...In this paper, we use a modified path simulation method for valuation of Asian American Options. This method is a modification of the path simulation model proposed by Tiley. We assume that the behavior of the log return of the underlying assets follows the Variance Gamma (VG) process, since its distribution is heavy tail and leptokurtic. We provide sensitivity analysis of this method and compare the obtained prices to Asian European option prices.展开更多
The interests of vulnerable groups can’t be guaranteed due to their weaker capacity and the limited interests demand channels during the water pollution conflicts. The interest protection for the vulnerable people in...The interests of vulnerable groups can’t be guaranteed due to their weaker capacity and the limited interests demand channels during the water pollution conflicts. The interest protection for the vulnerable people in the water pollution conflicts has attracted attentions of the international scholars. The paper tries to construct the market mechanism which can make the vulnerable people to involve in the emission trading. The vulnerable people can buy American put option in the emission trading market. When the price of the emission runs below the contract price, the vulnerable people can get the benefit through executing the option. When the price of the emission runs above the contract price, the vulnerable people can give up the right. The binomial tree option pricing model can help the vulnerable people to make a decision through the analysis of the worth of the American put option.展开更多
基金jointly supported by the National Natural Science Foundation of China[grant number 41975070]the State Key Labo-ratory of Tropical Oceanography,South China Sea Institute of Oceanol-ogy,Chinese Academy of Sciences[project number LTO1901].
文摘The version 2.1 of PETROMAR-3D model, created in the Center for Marine Meteorology of the Meteorology Institute of Cuba, is presented. This Lagrangian model has been designed to describe the physical processes of marine oil spills in the face of multiple scenarios of the marine environment. Although it is applicable to any part of the world, it is mainly designed for inter-American seas. The novelty has been to integrate the processes of drift and weathering into a model, with updated methods that incorporate 3D phenomena, a very favorable situation to achieve an operating system in Cuba and the region for the immediate and medium term. Python was chosen as the programming language because it has advanced libraries for numerical modeling, automation work and other useful tools for pre-and post-processing. By means of adapters, an important number of atmospheric, hydrodynamic and wave models have been considered to create the scenarios efficiently. The modular distribution in which the code has been created facilitates its use for other dispersion analysis and biophysical applications. Finally, a set of simple images are presented, aimed at informing decision-makers in order to mitigate the effects of the spill on the environment.
基金supported by the National Natural Science Foundation of China (Grant No. 30872000) and the K. C. Wong Education Foundation, Hong Kong.
文摘The relationships between plant organs and root hydrological traits are not well known and the question arises whether elevated CO2 changes these relationships. This study attempted to answer this question. A pseudo-replicated experiment was conducted with two times 24 American elm （Ulmus americana L.） and 23 and 24 red oak （Quercus rubra L.） seedlings growing in ambient CO2 （around 360 μmol.L^-1） and 540 ± 7.95 μmol.L^-1 CO2 in a greenhouse. After 71 days of treatment for American elm and 77 days for red oak, 14 American elm and 12 red oak seedlings from each of the two CO2 levels were randomly selected in order to examine the flow rate of root xylem sap, root hydraulic conductance, total root hydraulic conductivity, fine root and coarse root hydraulic conductivity. All seedlings were harvested to investigate total plant biomass, stem biomass and leaf biomass, leaf area, height, basal diameter, total root biomass, coarse root biomass and fine root biomass. The following conclusions are reached： 1） plant organs respond to the elevated CO2 level earlier than hydraulic traits of roots and may gradually lead to changes in hydraulic traits; 2） plant organs have different relationships with hydraulic traits of roots and elevated CO2 changes these relationships; the changes may be of importance for plants as means to acclimatize to changing environments; 3） biomass of coarse roots increased rather more than that of fine roots; 4） Lorentzian and Caussian models are better in estimating the biomass of seedlings than single-variable models. Key words American elm, biomass, elevated CO2, modeling, red oak, root hydraulic traits
文摘We present a parallel algorithm that computes the ask and bid prices of an American option when proportional transaction costs apply to trading in the underlying asset. The algorithm computes the prices on recombining binomial trees, and is designed for modern multi-core processors. Although parallel option pricing has been well studied, none of the existing approaches takes transaction costs into consideration. The algorithm that we propose partitions a binomial tree into blocks. In any round of computation a block is further partitioned into regions which are assigned to distinct processors. To minimise load imbalance the assignment of nodes to processors is dynamically adjusted before each new round starts. Synchronisation is required both within a round and between two successive rounds. The parallel speedup of the algorithm is proportional to the number of processors used. The parallel algorithm was implemented in C/C++ via POSIX Threads, and was tested on a machine with 8 processors. In the pricing of an American put option, the parallel speedup against an efficient sequential implementation was 5.26 using 8 processors and 1500 time steps, achieving a parallel efficiency of 65.75%.
文摘In this paper, we use a modified path simulation method for valuation of Asian American Options. This method is a modification of the path simulation model proposed by Tiley. We assume that the behavior of the log return of the underlying assets follows the Variance Gamma (VG) process, since its distribution is heavy tail and leptokurtic. We provide sensitivity analysis of this method and compare the obtained prices to Asian European option prices.
文摘The interests of vulnerable groups can’t be guaranteed due to their weaker capacity and the limited interests demand channels during the water pollution conflicts. The interest protection for the vulnerable people in the water pollution conflicts has attracted attentions of the international scholars. The paper tries to construct the market mechanism which can make the vulnerable people to involve in the emission trading. The vulnerable people can buy American put option in the emission trading market. When the price of the emission runs below the contract price, the vulnerable people can get the benefit through executing the option. When the price of the emission runs above the contract price, the vulnerable people can give up the right. The binomial tree option pricing model can help the vulnerable people to make a decision through the analysis of the worth of the American put option.
