Motivated by the empirical evidence of long range dependence in short-term interest rates and considering the long maturities of equity warrants, we propose the fractional Vasicek model to describe the dynamics of the short rate in the pricing environment of equity warrants. Using the partial...

Beijing is faced with severe water scarcity due to rapid socio-economic development and population expansion, and a guideline for water regulation has been released to control the volume of national water use. To cope with water shortage and meet regulation goal, it has great significance to...

Agent-based simulations are performed to study adaptive learning in the context of asymmetric first-price auctions. Non-linearity of the Nash equilibrium strategies is used to investigate the effect of task complexity on adaptive learning by varying the degree of approximation the agents can...

With the pressing regulatory requirement to increase energy efficiency in our built environment, significant researching efforts have been recently directed towards energy optimisation with the overall objective of reducing energy consumption. Energy simulation and optimisation identify a class...

The demand of energy is increasing at an escalating pace and cannot be fulfilled entirely by conventional energy systems, due to their limited supplies. In addition to this they have a radical impact on the environment. In comparison to them hybrid energy systems are a suitable combination of...

Integrated Gasification Combined Cycle (IGCC) and Integrated Gasification Fuel cell Cycle (IGFC) uses Syngas in fuel cells and gas turbines to produce power. Several designs have been studied and it is common to analyze different designs (one at a time) to understand which design is more...