The method of improving permeability of coal seams by freeze-fracturing is presented to accelerate the diffusion of coalbed gas into exploited wells. The pore structure of coal sample changes caused by freeze-fracturing were characterized by nuclear magnetic resonance (NMR) and scanning electron...

For portfolio choice problems with proportional transaction costs, we discuss whether or not there exists a shadow price, i.e., a least favorable frictionless market extension leading to the same optimal strategy and utility. By means of an explicit counter-example, we show that shadow prices...