In this paper we propose a new finite element method for pricing of bond options under time inhomogeneous one-factor affine models of short interest rates: the Hull–White model and the extended CIR model. The stability and weak convergence are established. Numerical results are presented to...

This paper presents a novel hybrid-flux magnetic gear, which integrates a transverse-flux magnetic gear and an axial-flux magnetic gear into a single unit. Compared to its conventional counterparts, the proposed magnetic gear transmits a relatively high torque density. When compared to the...

Based on the electrochemical and thermal model, a coupled electro-thermal runaway model was developed and implemented using finite element methods. The thermal decomposition reactions when the battery temperature exceeds the material decomposition temperature were embedded into the model. The...

A numerical solution of the nonlinear two-dimensional unsteady groundwater flow over sloping beds, using the Galerkin finite element method, is presented. The applied differential equation is based on the assumption that the streamlines are parallel to the sloping bed while the conventional...

The aim of this paper is the determination of a concentrating thermo-photovoltaic (CPV/T) system dynamic model by means of the finite element method (FEM). The system consist of triple-junction InGaP/InGaAs/Ge (indium-gallium phosphide/indium-gallium-arsenide/germanium) solar cells connected to...

A two dimensional numerical model of a solid oxide fuel cell (SOFC) with electrode functional layers is presented. The model incorporates the partial differential equations for mass transport, electric conduction and electrochemical reactions in the electrode functional layers, the anode support...

This paper proposes a new electrically controlled magnetic variable-speed gearing (EC-MVSG) machine, which is capable of providing controllable gear ratios for hybrid electric vehicle (HEV) applications. The key design feature involves the adoption of a magnetic gearing structure and acceptance...

In this paper we consider the problem of k-partitioning the nodes of a graph with capacity restrictions on the sum of the node weights in each subset of the partition, and the objective of minimizing the sum of the costs of the edges between the subsets of the partition. Based on a study of...

We analyse the implementation of the finite element method to simulate the structural behaviour of the blade-wagons of variable-geometry oval-trajectory (VGOT) Darrieus wind turbines. The key feature of a VGOT machine is that each blade, instead of rotating around a central vertical axis, slides...