This paper proves the existence of a general equilibrium in a financial model with transaction costs. The general equilibrium is shown to exist in a model with convex trading technology, in which the agents include consumers, production firms, brokers and dealers. When the trading technology is...

This paper studies the parameter estimation problem for Ornstein-Uhlenbeck stochastic volatility models driven by Lévy processes. Estimation is regarded as the principal challenge in applying these models since they were proposed by Barndorff-Nielsen and Shephard [<italic>J. R. Stat. Soc. Ser. B</italic>, 2001,...

PCMs (Phase change materials) are used to enhance the thermal storage capacity of building walls, decrease indoor air temperature fluctuations, and shift peak heat transfer rates to off-peak times. PCM location within building walls is recognized to be critical for the optimum performance of the...

Phase change materials (PCMs) are used to enhance the thermal storage capacity of building walls. PCM incorporation into building walls poses several design challenges; a critical one being the integration method (e.g., micro- vs. macro-encapsulation) as well as the location of PCMs within the...