An important source of anthropogenic greenhouse gas (GHG) emissions is the air transport sector, which accounts for approximately 2% of global GHG emissions. Therefore, reducing GHG emissions from aircrafts has become a major challenge for transportation authorities worldwide. In recent years,...

This study established a hypothesis model based on the seemingly unrelated regression equations (SURE) model to investigate the relationship between public transportation, car, and motorcycle use in various townships in Taiwan and to analyse important factors that affect the usage of these...

The literature has pointed out that many decision makers could exhibit some degree of risk lovingness. Yet, it still lacks a suitable performance index which is consistent with the preferences of all of them, i.e., the preferred project has a higher score. To fulfill this need, our paper...

In this work we apply asymptotic analysis on compound options, American options, Asian options, and variance (or volatility) contracts in the context of stochastic volatility models. Singular perturbations are used mainly. A singular-regular perturbation is applied on Asian option problems....

In this paper we propose to use Markov chain Monte Carlo methods to estimate the parameters of stochastic volatility models with several factors varying at different time scales. The originality of our approach, in contrast with classical factor models is the identification of two factors...

We investigate the effect of martingale control as a smoother for MC/QMC methods. Numerical results of estimating low-biased solutions for American put option prices under the Black–Scholes model demonstrate that using QMC methods can be problematic. But it can be fixed by adding a (local)...

In this paper, we generalize the recently developed dimension reduction technique of Vecer for pricing arithmetic average Asian options. The assumption of constant volatility in Vecer's method will be relaxed to the case that volatility is randomly fluctuating and is driven by a mean-reverting...