This paper studies the utility maximization problem on the terminal wealth with both random endowments and proportional transaction costs. To deal with unbounded random payoffs from some illiquid claims, we propose to work with the acceptable portfolios defined via the consistent price system...

We consider a notion of weak no arbitrage condition commonly known as Robust No Unbounded Profit with Bounded Risk (RNUPBR) in the context of continuous time markets with small proportional transaction costs. We show that the RNUPBR condition on terminal liquidation value holds if and only if...

A genome-wide location analysis method has been introduced as a means to simultaneously study protein-DNA binding interactions for a large number of genes on a microarray platform. Identification of interactions between transcription factors (TF) and genes provide insight into the mechanisms...

A genome-wide location analysis method has been introduced as a means to simultaneously study protein-DNA binding interactions for a large number of genes on a microarray platform. Identification of interactions between transcription factors (TF) and genes provide insight into the mechanisms...

In this paper, we propose a framework to estimate the yield curve in the illiquid market. Within this framework, seven different curve-fitting models are compared from four aspects with the trading data of government bonds listed in the Shanghai Stock Exchange (SSE) of China. We find that the...

This paper studies the utility maximization problem on consumption with addictive habit formation in the market with proportional transaction costs and unbounded random endowment. To model the proportional transaction costs, we adopt the Kabanov's multi-asset framework with a cash account. At...

An adherent nano-superhard titanium nitride (TiN) film on the substrate of Cr12Mo4V high speed steel was prefabricated in a vacuum cathode multi-arc ion-plating system. Microhardness, film-to-substrate adhesion, and microstructure of the film were investigated typically using Vickers hardometer,...