The pricing accuracy of the canonical least-squares Monte Carlo (CLM) method can be improved significantly by incorporating innovatively a variance constraint in the derivation of the canonical risk-neutral distribution. This new approach is called the variance-constrained CLM (vCLM) in the...

Static replication of nonlinear payoffs by line segments (or equivalently vanilla options) is an important hedging method, which unfortunately is only an approximation. If the strike prices of options are adjustable (for OTC options), two optimal approximations can be defined for replication by...

Options pricing and hedging under canonical valuation have recently been demonstrated to be quite effective, but unfortunately are only applicable to European options. This study proposes an approach called canonical least‐squares Monte Carlo (CLM) to price American options. CLM proceeds in...

With software projects are becoming increasingly complicated, soft skills such as collaboration, effective communication, rhetoric, socio-cultural, accountabilities and collision resolution in real-life software projects, as well as computer programming are badly required for team members to...

This study takes Lin'an City which early carries out the experiment of ecological operation of hickory as the study site. On the basis of the input-output data on hickory and farmers' land, we analyze the input-output status of hickory land which practises ecological operation, the operators'...

ORC (organic Rankine cycles) are promising systems for conversion of low temperature geothermal energy to electricity. The thermodynamic performance of the ORC with a wet cooling system is analyzed here using hydrocarbon working fluids driven by geothermal water from 100 °C to 150 °C and...

Although the multifractal singularity spectrum revealed the distribution of singularity exponent, it failed to consider the temporal information, therefore it is hard to describe the dynamic evolving process of non-stationary and nonlinear systems. In this paper, we aim for a multifractal...

The organic Rankine cycle (ORC) has been widely used to convert low-grade (300°C) thermal energy to electricity. Use of zeotropic mixtures as the working fluids improves the thermodynamic performance of ORC systems due to better matches of the temperature profiles of the working fluid and the...

A coupled 1D–2D hydrodynamic model linking the channel and flood detention basin for flood simulation with complex topography and irregular boundary was presented in this paper. The 1D Saint-Venant equations were used for governing flows in channel, and the four-point implicit Preissmann...