Comparison between three option, four option and five option multiple choice question tests for quality parameters: A randomized study.

Science.gov (United States)

Vegada, Bhavisha; Shukla, Apexa; Khilnani, Ajeetkumar; Charan, Jaykaran; Desai, Chetna

2016-01-01

Most of the academic teachers use four or five options per item of multiple choice question (MCQ) test as formative and summative assessment. Optimal number of options in MCQ item is a matter of considerable debate among academic teachers of various educational fields. There is a scarcity of the published literature regarding the optimum number of option in each item of MCQ in the field of medical education. To compare three options, four options, and five options MCQs test for the quality parameters - reliability, validity, item analysis, distracter analysis, and time analysis. Participants were 3 rd semester M.B.B.S. students. Students were divided randomly into three groups. Each group was given one set of MCQ test out of three options, four options, and five option randomly. Following the marking of the multiple choice tests, the participants' option selections were analyzed and comparisons were conducted of the mean marks, mean time, validity, reliability and facility value, discrimination index, point biserial value, distracter analysis of three different option formats. Students score more ( P = 0.000) and took less time ( P = 0.009) for the completion of three options as compared to four options and five options groups. Facility value was more ( P = 0.004) in three options group as compared to four and five options groups. There was no significant difference between three groups for the validity, reliability, and item discrimination. Nonfunctioning distracters were more in the four and five options group as compared to three option group. Assessment based on three option MCQs is can be preferred over four option and five option MCQs.

23 CFR 500.104 - State option.

Science.gov (United States)

2010-04-01

... 23 Highways 1 2010-04-01 2010-04-01 false State option. 500.104 Section 500.104 Highways FEDERAL HIGHWAY ADMINISTRATION, DEPARTMENT OF TRANSPORTATION TRANSPORTATION INFRASTRUCTURE MANAGEMENT MANAGEMENT AND MONITORING SYSTEMS Management Systems § 500.104 State option. Except as specified in § 500.105 (a...

Waste package emplacement borehole option study

International Nuclear Information System (INIS)

Streeter, W.S.

1992-03-01

This study evaluates the cost and thermal effects of various waste package emplacement configurations that differ in emplacement orientation, number of containers per borehole, and standoff distance at the potential Yucca Mountain nuclear waste repository. In this study, eight additional alternatives to the vertical and horizontal orientation options presented in the Site Characterization Plan Conceptual Design Report are considered. Typical panel layout configurations based on thermal analysis of the waste and cost estimates for design and construction, operations, and closure and decommissioning were made for each emplacement option. For the thermal analysis average waste 10 years out of reactor and the SIM code were used to determine whether the various configurations temperatures would exceed the design criteria for temperature. This study does not make a recommendation for emplacement configuration, but does provide information for comparison of alternatives

Nuclear Power Options Viability Study. Volume 4. Bibliography

Energy Technology Data Exchange (ETDEWEB)

Trauger, D B; White, J D; Sims, J W [eds.

1986-09-01

Documents in the Nuclear Power Options Viability Study (NPOVS) bibliography are classified under one of four headings or categories as follows: nuclear options; light water reactors; liquid metal reactors; and high temperature reactors. The collection and selection of these documents, beginning early in 1984 and continuing through March of 1986, was carried out in support of the study's objective: to explore the viabilities of several nuclear electric power generation options for commercial deployment in the United States between 2000 and 2010. There are approximately 550 articles, papers, reports, and books in the bibliography that have been selected from some 2000 surveyed. The citations have been made computer accessible to facilitate rapid on-line retrieval by keyword, author, corporate author, title, journal name, or document number.

Nuclear Power Options Viability Study. Volume 4. Bibliography

International Nuclear Information System (INIS)

Trauger, D.B.; White, J.D.; Sims, J.W.

1986-09-01

Documents in the Nuclear Power Options Viability Study (NPOVS) bibliography are classified under one of four headings or categories as follows: nuclear options; light water reactors; liquid metal reactors; and high temperature reactors. The collection and selection of these documents, beginning early in 1984 and continuing through March of 1986, was carried out in support of the study's objective: to explore the viabilities of several nuclear electric power generation options for commercial deployment in the United States between 2000 and 2010. There are approximately 550 articles, papers, reports, and books in the bibliography that have been selected from some 2000 surveyed. The citations have been made computer accessible to facilitate rapid on-line retrieval by keyword, author, corporate author, title, journal name, or document number

ATR Spent Fuel Options Study

International Nuclear Information System (INIS)

Connolly, Michael James; Bean, Thomas E.; Brower, Jeffrey O.; Luke, Dale E.; Patterson, M. W.; Robb, Alan K.; Sindelar, Robert; Smith, Rebecca E.; Tonc, Vincent F.; Tripp, Julia L.; Winston, Philip L.

2017-01-01

The Advanced Test Reactor (ATR) is a materials and fuels test nuclear reactor that performs irradiation services for the U.S. Department of Energy (DOE) Office of Nuclear Energy (NE), Naval Reactors, the National Nuclear Security Administration (NNSA), and other research programs. ATR achieved initial criticality in 1967 and is expected to operate in support of needed missions until the year 2050 or beyond. It is anticipated that ATR will generate approximately 105 spent nuclear fuel (SNF) elements per year through the year 2050. Idaho National Laboratory (INL) currently stores 2,008 ATR SNF elements in dry storage, 976 in wet storage, and expects to have 1,000 elements in wet storage before January 2017. A capability gap exists at INL for long-term (greater than the year 2050) management, in compliance with the Idaho Settlement Agreement (ISA), of ATR SNF until a monitored retrievable geological repository is open. INL has significant wet and dry storage capabilities that are owned by the DOE Office of Environmental Management (EM) and operated and managed by Fluor Idaho, which include the Idaho Nuclear Technology and Engineering Center's (INTEC's) CPP-666, CPP-749, and CPP-603. In addition, INL has other capabilities owned by DOE-NE and operated and managed by Battelle Energy Alliance, LLC (BEA), which are located at the Materials and Fuel Complex (MFC). Additional storage capabilities are located on the INL Site at the Naval Reactors Facility (NRF). Current INL SNF management planning, as defined in the Fluor Idaho contract, shows INTEC dry fuel storage, which is currently used for ATR SNF, will be nearly full after transfer of an additional 1,000 ATR SNF from wet storage. DOE-NE tasked BEA with identifying and analyzing options that have the potential to fulfill this capability gap. BEA assembled a team comprised of SNF management experts from Fluor Idaho, Savannah River Site (SRS), INL/BEA, and the MITRE Corp with an objective of developing and analyzing

ATR Spent Fuel Options Study

Energy Technology Data Exchange (ETDEWEB)

Connolly, Michael James [Idaho National Lab. (INL), Idaho Falls, ID (United States); Bean, Thomas E. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Brower, Jeffrey O. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Luke, Dale E. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Patterson, M. W. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Robb, Alan K. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Sindelar, Robert [Idaho National Lab. (INL), Idaho Falls, ID (United States); Smith, Rebecca E. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Tonc, Vincent F. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Tripp, Julia L. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Winston, Philip L. [Idaho National Lab. (INL), Idaho Falls, ID (United States)

2017-01-01

The Advanced Test Reactor (ATR) is a materials and fuels test nuclear reactor that performs irradiation services for the U.S. Department of Energy (DOE) Office of Nuclear Energy (NE), Naval Reactors, the National Nuclear Security Administration (NNSA), and other research programs. ATR achieved initial criticality in 1967 and is expected to operate in support of needed missions until the year 2050 or beyond. It is anticipated that ATR will generate approximately 105 spent nuclear fuel (SNF) elements per year through the year 2050. Idaho National Laboratory (INL) currently stores 2,008 ATR SNF elements in dry storage, 976 in wet storage, and expects to have 1,000 elements in wet storage before January 2017. A capability gap exists at INL for long-term (greater than the year 2050) management, in compliance with the Idaho Settlement Agreement (ISA), of ATR SNF until a monitored retrievable geological repository is open. INL has significant wet and dry storage capabilities that are owned by the DOE Office of Environmental Management (EM) and operated and managed by Fluor Idaho, which include the Idaho Nuclear Technology and Engineering Center’s (INTEC’s) CPP-666, CPP-749, and CPP-603. In addition, INL has other capabilities owned by DOE-NE and operated and managed by Battelle Energy Alliance, LLC (BEA), which are located at the Materials and Fuel Complex (MFC). Additional storage capabilities are located on the INL Site at the Naval Reactors Facility (NRF). Current INL SNF management planning, as defined in the Fluor Idaho contract, shows INTEC dry fuel storage, which is currently used for ATR SNF, will be nearly full after transfer of an additional 1,000 ATR SNF from wet storage. DOE-NE tasked BEA with identifying and analyzing options that have the potential to fulfill this capability gap. BEA assembled a team comprised of SNF management experts from Fluor Idaho, Savannah River Site (SRS), INL/BEA, and the MITRE Corp with an objective of developing and analyzing

Policy implications of Iran's Nuclear Deal in technical terms for the plutonium route, uranium route, covert options, inspections, monitoring and verifications

International Nuclear Information System (INIS)

Pinheiro, Andre Ricardo M.

2017-01-01

The present Paper addresses the policy implications of Joint Comprehensive Plan of Action (JCPOA) known as 'Ian Nuclear Deal', implemented on 16 th January of 2016 between the Iran and the P5+1 countries (the U.S., U.K. France, Germany, Russia, and China), along with the EU in technical terms to analyze the Plutonium Route, Uranium Route and the Covert options and Inspections, Monitoring and Verifications. A historical review is presented to understand how the Iranian Nuclear Program is formed. Following is shown the current nuclear facilities in Iran and its capacity to process nuclear materials. It is analyzed the impact of JCPOA in Uranium and Plutonium routes. Covert Options always will be an option, so the most sensitive impact is related to the new monitoring and verification policies that must ensure real control of illegal procedures. The main conclusion is that the deal postpones the Iran's nuclear program for more than a decade (15 years), delaying Iran's nuclear bomb time from a few months to at least one year, although there is a current latent capacity to develop a nuclear bomb in Uranium route. It also gives IAEA inspectors capability to monitor nuclear activities and prevent to possible development to a nuclear bomb. To arrive in this conclusion an extensive technical analyze of impact of JCPOA in Iran's nuclear capabilities was made to discover how effective is the deal to prevent Iran to build, or acquire a nuclear weapon. (author)

Policy implications of Iran's Nuclear Deal in technical terms for the plutonium route, uranium route, covert options, inspections, monitoring and verifications

Energy Technology Data Exchange (ETDEWEB)

Pinheiro, Andre Ricardo M., E-mail: andrericardopinheiro@usp.br [Universidade de São Paulo (USP), SP (Brazil). Departamento de Engenharia Naval; Guimarães, Leonam dos Santos, E-mail: leonam@eletronuclear.gov.br [Eletrobrás Termonuclear S.A. (ELETRONUCLEAR), Rio de Janeiro, RJ (Brazil)

2017-07-01

The present Paper addresses the policy implications of Joint Comprehensive Plan of Action (JCPOA) known as 'Ian Nuclear Deal', implemented on 16{sup th} January of 2016 between the Iran and the P5+1 countries (the U.S., U.K. France, Germany, Russia, and China), along with the EU in technical terms to analyze the Plutonium Route, Uranium Route and the Covert options and Inspections, Monitoring and Verifications. A historical review is presented to understand how the Iranian Nuclear Program is formed. Following is shown the current nuclear facilities in Iran and its capacity to process nuclear materials. It is analyzed the impact of JCPOA in Uranium and Plutonium routes. Covert Options always will be an option, so the most sensitive impact is related to the new monitoring and verification policies that must ensure real control of illegal procedures. The main conclusion is that the deal postpones the Iran's nuclear program for more than a decade (15 years), delaying Iran's nuclear bomb time from a few months to at least one year, although there is a current latent capacity to develop a nuclear bomb in Uranium route. It also gives IAEA inspectors capability to monitor nuclear activities and prevent to possible development to a nuclear bomb. To arrive in this conclusion an extensive technical analyze of impact of JCPOA in Iran's nuclear capabilities was made to discover how effective is the deal to prevent Iran to build, or acquire a nuclear weapon. (author)

Monitoring population status of sea otters (Enhydra lutris) in Glacier Bay National Park and Preserve, Alaska: options and considerations

Science.gov (United States)

Esslinger, George G.; Esler, Daniel N.; Howlin, S.; Starcevich, L.A.

2015-06-25

After many decades of absence from southeast Alaska, sea otters (Enhydra lutris) are recolonizing parts of their former range, including Glacier Bay, Alaska. Sea otters are well known for structuring nearshore ecosystems and causing community-level changes such as increases in kelp abundance and changes in the size and number of other consumers. Monitoring population status of sea otters in Glacier Bay will help park researchers and managers understand and interpret sea otter-induced ecosystem changes relative to other sources of variation, including potential human-induced impacts such as ocean acidification, vessel disturbance, and oil spills. This report was prepared for the National Park Service (NPS), Southeast Alaska Inventory and Monitoring Network following a request for evaluation of options for monitoring sea otter population status in Glacier Bay National Park and Preserve. To meet this request, we provide a detailed consideration of the primary method of assessment of abundance and distribution, aerial surveys, including analyses of power to detect interannual trends and designs to reduce variation around annual abundance estimates. We also describe two alternate techniques for evaluating sea otter population status—(1) quantifying sea otter diets and energy intake rates, and (2) detecting change in ages at death. In addition, we provide a brief section on directed research to identify studies that would further our understanding of sea otter population dynamics and effects on the Glacier Bay ecosystem, and provide context for interpreting results of monitoring activities.

Value of information analysis for groundwater quality monitoring network design Case study: Eocene Aquifer, Palestine

Science.gov (United States)

Khader, A.; McKee, M.

2010-12-01

Value of information (VOI) analysis evaluates the benefit of collecting additional information to reduce or eliminate uncertainty in a specific decision-making context. It makes explicit any expected potential losses from errors in decision making due to uncertainty and identifies the “best” information collection strategy as one that leads to the greatest expected net benefit to the decision-maker. This study investigates the willingness to pay for groundwater quality monitoring in the Eocene Aquifer, Palestine, which is an unconfined aquifer located in the northern part of the West Bank. The aquifer is being used by 128,000 Palestinians to fulfill domestic and agricultural demands. The study takes into account the consequences of pollution and the options the decision maker might face. Since nitrate is the major pollutant in the aquifer, the consequences of nitrate pollution were analyzed, which mainly consists of the possibility of methemoglobinemia (blue baby syndrome). In this case, the value of monitoring was compared to the costs of treating for methemoglobinemia or the costs of other options like water treatment, using bottled water or importing water from outside the aquifer. And finally, an optimal monitoring network that takes into account the uncertainties in recharge (climate), aquifer properties (hydraulic conductivity), pollutant chemical reaction (decay factor), and the value of monitoring is designed by utilizing a sparse Bayesian modeling algorithm called a relevance vector machine.

Space station data system analysis/architecture study. Task 2: Options development, DR-5. Volume 2: Design options

Science.gov (United States)

1985-01-01

The primary objective of Task 2 is the development of an information base that will support the conduct of trade studies and provide sufficient data to make key design/programmatic decisions. This includes: (1) the establishment of option categories that are most likely to influence Space Station Data System (SSDS) definition; (2) the identification of preferred options in each category; and (3) the characterization of these options with respect to performance attributes, constraints, cost and risk. This volume contains the options development for the design category. This category comprises alternative structures, configurations and techniques that can be used to develop designs that are responsive to the SSDS requirements. The specific areas discussed are software, including data base management and distributed operating systems; system architecture, including fault tolerance and system growth/automation/autonomy and system interfaces; time management; and system security/privacy. Also discussed are space communications and local area networking.

Next Generation Melter Optioneering Study - Interim Report

International Nuclear Information System (INIS)

Gray, M.F.; Calmus, R.B.; Ramsey, G.; Lomax, J.; Allen, H.

2010-01-01

The next generation melter (NOM) development program includes a down selection process to aid in determining the recommended vitrification technology to implement into the WTP at the first melter change-out which is scheduled for 2025. This optioneering study presents a structured value engineering process to establish and assess evaluation criteria that will be incorporated into the down selection process. This process establishes an evaluation framework that will be used progressively throughout the NGM program, and as such this interim report will be updated on a regular basis. The workshop objectives were achieved. In particular: (1) Consensus was reached with stakeholders and technology providers represented at the workshop regarding the need for a decision making process and the application of the D 2 0 process to NGM option evaluation. (2) A framework was established for applying the decision making process to technology development and evaluation between 2010 and 2013. (3) The criteria for the initial evaluation in 2011 were refined and agreed with stakeholders and technology providers. (4) The technology providers have the guidance required to produce data/information to support the next phase of the evaluation process. In some cases it may be necessary to reflect the data/information requirements and overall approach to the evaluation of technology options against specific criteria within updated Statements of Work for 2010-2011. Access to the WTP engineering data has been identified as being very important for option development and evaluation due to the interface issues for the NGM and surrounding plant. WRPS efforts are ongoing to establish precisely data that is required and how to resolve this Issue. It is intended to apply a similarly structured decision making process to the development and evaluation of LAW NGM options.

Characterization of INEL compactible wastes, compactor options study, and recommendations

International Nuclear Information System (INIS)

Gillins, R.L.; Larsen, M.M.; Aldrich, W.C.

1986-03-01

This report provides the results of a detailed characterization and evaluation of low-level radioactive waste generated at the Idaho National Engineering Laboratory (INEL) and an evaluation of compactors available commercially. The results of these evaluations formed the basis for a study of compactor options suitable for compacting INEL-generated low-level waste. Seven compactor options were evaluated. A decision analysis performed on the results of the compactor option study and cost analysis showed that a 200-ton box compactor and a 5000-ton box supercompactor were the best options for an INEL compaction facility other than the RWMC. Two compactor locations were considered: WERF and CPP. The WERF location is recommended on the basis of existing facilities to house the compactor and store the waste, the presence of a trained waste-handling staff, and the desirability of maintaining a single location for processing INEL-generated low-level waste

"Provoking conversations": case studies of organizations where Option Grid™ decision aids have become 'normalized'.

Science.gov (United States)

Scalia, Peter; Elwyn, Glyn; Durand, Marie-Anne

2017-08-18

Implementing patient decision aids in clinic workflow has proven to be a challenge for healthcare organizations and physicians. Our aim was to determine the organizational strategies, motivations, and facilitating factors to the routine implementation of Option Grid™ encounter decision aids at two independent settings. Case studies conducted by semi-structured interview, using the Normalization Process Theory (NPT) as a framework for thematic analysis. Twenty three interviews with physicians, nurses, hospital staff and stakeholders were conducted at: 1) CapitalCare Medical Group in Albany, New York; 2) HealthPartners Clinics in Minneapolis, Minnesota. 'Coherent' motivations were guided by financial incentives at CapitalCare, and by a 'champion' physician at HealthPartners. Nurses worked 'collectively' at both settings and played an important role at sites where successful implementation occurred. Some physicians did not understand the perceived utility of Option Grid™, which led to varying degrees of implementation success across sites. The appraisal work (reflexive monitoring) identified benefits, particularly in terms of information provision. Physicians at both settings, however, were concerned with time pressures and the suitability of the tool for patients with low levels of health literacy. Although both practice settings illustrated the mechanisms of normalization postulated by the theory, the extent to which Option Grid™ was routinely embedded in clinic workflow varied between sites, and between clinicians. Implementation of new interventions will require attention to an identified rationale (coherence), and to the collective action, cognitive participation, and assessment of value by organizational members of the organization.

Cementitious waste option scoping study report

International Nuclear Information System (INIS)

Lee, A.E.; Taylor, D.D.

1998-02-01

A Settlement Agreement between the Department of Energy (DOE) and the State of Idaho mandates that all high-level radioactive waste (HLW) now stored at the Idaho Chemical Processing Plant (ICPP) on the Idaho National Engineering and Environmental Laboratory (INEEL) will be treated so that it is ready to be moved out of Idaho for disposal by a target date of 2035. This study investigates the nonseparations Cementitious Waste Option (CWO) as a means to achieve this goal. Under this option all liquid sodium-bearing waste (SBW) and existing HLW calcine would be recalcined with sucrose, grouted, canisterized, and interim stored as a mixed-HLW for eventual preparation and shipment off-Site for disposal. The CWO waste would be transported to a Greater Confinement Disposal Facility (GCDF) located in the southwestern desert of the US on the Nevada Test Site (NTS). All transport preparation, shipment, and disposal facility activities are beyond the scope of this study. CWO waste processing, packaging, and interim storage would occur over a 5-year period between 2013 and 2017. Waste transport and disposal would occur during the same time period

Cementitious waste option scoping study report

Energy Technology Data Exchange (ETDEWEB)

Lee, A.E.; Taylor, D.D.

1998-02-01

A Settlement Agreement between the Department of Energy (DOE) and the State of Idaho mandates that all high-level radioactive waste (HLW) now stored at the Idaho Chemical Processing Plant (ICPP) on the Idaho National Engineering and Environmental Laboratory (INEEL) will be treated so that it is ready to be moved out of Idaho for disposal by a target date of 2035. This study investigates the nonseparations Cementitious Waste Option (CWO) as a means to achieve this goal. Under this option all liquid sodium-bearing waste (SBW) and existing HLW calcine would be recalcined with sucrose, grouted, canisterized, and interim stored as a mixed-HLW for eventual preparation and shipment off-Site for disposal. The CWO waste would be transported to a Greater Confinement Disposal Facility (GCDF) located in the southwestern desert of the US on the Nevada Test Site (NTS). All transport preparation, shipment, and disposal facility activities are beyond the scope of this study. CWO waste processing, packaging, and interim storage would occur over a 5-year period between 2013 and 2017. Waste transport and disposal would occur during the same time period.

Evaluation of storage/transportation options to support criteria development for the Phase I MRS [Monitored Retrievable Storage

International Nuclear Information System (INIS)

Sorenson, K.B.; Brown, N.N.; Bennett, P.C.; Lake, W.

1991-01-01

The Department of Energy's (DOE) Office of Civilian Waste Management (OCRWM) plans to develop an interim storage facility to enable acceptance of spent fuel in 1998. It is estimated that this interim storage facility would be needed for about two years. A Monitored Retrievable Storage (MRS) facility is anticipated in 2000 and a repository in 2010. Acceptance and transport of spent fuel by DOE/OCRWM in 1998 will require an operating transportation system. Because this interim storage facility is not yet defined, development of an optimally compatible transportation system is not a certainty. In order to assure a transport capability for 1998 acceptance of spent fuel, it was decided that the OCRWM transportation program had to identify likely options for an interim storage facility, including identification of the components needed for compatibility between likely interim storage facility options and transportation. Primary attention was given to existing hardware, although conceptual designs were also considered. A systems-based probabilistic decision model was suggested by Sandia National Laboratories and accepted by DOE/OCRWM's transportation program. Performance of the evaluation task involved several elements of the transportation program. This paper describes the decision model developed to accomplish this task, along with some of the results and conclusions. 1 ref., 4 figs

Analysis of Options Contract, Option Pricing in Agricultural Products

Directory of Open Access Journals (Sweden)

H. Tamidy

2016-03-01

Full Text Available Introduction: Risk is an essential component in the production and sale of agricultural products. Due to the nature of agricultural products, the people who act in this area including farmers and businesspersons encounter unpredictable fluctuations of prices. On the other hand, the firms that process agricultural products also face fluctuation of price of agricultural inputs. Given that the Canola is considered as one of the inputs of product processing factories, control of unpredictable fluctuations of the price of this product would increase the possibility of correct decision making for farmers and managers of food processing industries. The best available tool for control and management of the price risk is the use of future markets and options. It is evident that the pricing is the main pillar in every trade. Therefore, offering a fair price for the options will be very important. In fact, options trading in the options market create cost insurance stopped. In this way, which can reduce the risks of deflation created in the future, if the person entitled to the benefits of the price increase occurs in the future. Unlike the futures, market where the seller had to deliver the product on time, in the options market, there is no such compulsion. In addition, this is one of the strengths of this option contract, because if there is not enough product for delivery to the futures market as result of chilling, in due course, the farmers suffer, but in the options market there will be a loss. In this study, the setup options of rape, as a product, as well as inputs has been paid for industry. Materials and Methods: In this section. The selection criteria of the disposal of asset base for valuation of European put options and call option is been introduced. That for obtain this purpose, some characteristics of the goods must considered: 1-Unpredictable fluctuations price of underlying asset 2 -large underlying asset cash market 3- The possibility

Exotic Options: a Chooser Option and its Pricing

Directory of Open Access Journals (Sweden)

Raimonda Martinkutė-Kaulienė

2012-12-01

Full Text Available Financial instruments traded in the markets and investors’ situation in such markets are getting more and more complex. This leads to more complex derivative structures used for hedging that are harder to analyze and which risk is harder managed. Because of the complexity of these instruments, the basic characteristics of many exotic options may sometimes be not clearly understood. Most scientific studies have been focused on developing models for pricing various types of exotic options, but it is important to study their unique characteristics and to understand them correctly in order to use them in proper market situations. The paper examines main aspects of options, emphasizing the variety of exotic options and their place in financial markets and risk management process. As the exact valuation of exotic options is quite difficult, the article deals with the theoretical and practical aspects of pricing of chooser options that suggest a broad range of usage and application in different market conditions. The calculations made in the article showed that the price of the chooser is closely correlated with the choice time and low correlated with its strike price. So the first mentioned factor should be taken into consideration when making appropriate hedging and investing decisions.

Advanced Demonstration and Test Reactor Options Study

Energy Technology Data Exchange (ETDEWEB)

Petti, David Andrew [Idaho National Lab. (INL), Idaho Falls, ID (United States); Hill, R. [Argonne National Lab. (ANL), Argonne, IL (United States); Gehin, J. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Gougar, Hans David [Idaho National Lab. (INL), Idaho Falls, ID (United States); Strydom, Gerhard [Idaho National Lab. (INL), Idaho Falls, ID (United States); Heidet, F. [Argonne National Lab. (ANL), Argonne, IL (United States); Kinsey, J. [Idaho National Lab. (INL), Idaho Falls, ID (United States); Grandy, Christopher [Argonne National Lab. (ANL), Argonne, IL (United States); Qualls, A. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Brown, Nicholas [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Powers, J. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Hoffman, E. [Argonne National Lab. (ANL), Argonne, IL (United States); Croson, D. [Idaho National Lab. (INL), Idaho Falls, ID (United States)

2017-01-01

Global efforts to address climate change will require large-scale decarbonization of energy production in the United States and elsewhere. Nuclear power already provides 20% of electricity production in the United States (U.S.) and is increasing in countries undergoing rapid growth around the world. Because reliable, grid-stabilizing, low emission electricity generation, energy security, and energy resource diversity will be increasingly valued, nuclear power’s share of electricity production has a potential to grow. In addition, there are non electricity applications (e.g., process heat, desalination, hydrogen production) that could be better served by advanced nuclear systems. Thus, the timely development, demonstration, and commercialization of advanced nuclear reactors could diversify the nuclear technologies available and offer attractive technology options to expand the impact of nuclear energy for electricity generation and non-electricity missions. The purpose of this planning study is to provide transparent and defensible technology options for a test and/or demonstration reactor(s) to be built to support public policy, innovation and long term commercialization within the context of the Department of Energy’s (DOE’s) broader commitment to pursuing an “all of the above” clean energy strategy and associated time lines. This planning study includes identification of the key features and timing needed for advanced test or demonstration reactors to support research, development, and technology demonstration leading to the commercialization of power plants built upon these advanced reactor platforms. This planning study is consistent with the Congressional language contained within the fiscal year 2015 appropriation that directed the DOE to conduct a planning study to evaluate “advanced reactor technology options, capabilities, and requirements within the context of national needs and public policy to support innovation in nuclear energy�

Advanced Demonstration and Test Reactor Options Study

International Nuclear Information System (INIS)

Petti, David Andrew; Hill, R.; Gehin, J.; Gougar, Hans David; Strydom, Gerhard; Heidet, F.; Kinsey, J.; Grandy, Christopher; Qualls, A.; Brown, Nicholas; Powers, J.; Hoffman, E.; Croson, D.

2017-01-01

Global efforts to address climate change will require large-scale decarbonization of energy production in the United States and elsewhere. Nuclear power already provides 20% of electricity production in the United States (U.S.) and is increasing in countries undergoing rapid growth around the world. Because reliable, grid-stabilizing, low emission electricity generation, energy security, and energy resource diversity will be increasingly valued, nuclear power's share of electricity production has a potential to grow. In addition, there are non electricity applications (e.g., process heat, desalination, hydrogen production) that could be better served by advanced nuclear systems. Thus, the timely development, demonstration, and commercialization of advanced nuclear reactors could diversify the nuclear technologies available and offer attractive technology options to expand the impact of nuclear energy for electricity generation and non-electricity missions. The purpose of this planning study is to provide transparent and defensible technology options for a test and/or demonstration reactor(s) to be built to support public policy, innovation and long term commercialization within the context of the Department of Energy's (DOE's) broader commitment to pursuing an 'all of the above' clean energy strategy and associated time lines. This planning study includes identification of the key features and timing needed for advanced test or demonstration reactors to support research, development, and technology demonstration leading to the commercialization of power plants built upon these advanced reactor platforms. This planning study is consistent with the Congressional language contained within the fiscal year 2015 appropriation that directed the DOE to conduct a planning study to evaluate 'advanced reactor technology options, capabilities, and requirements within the context of national needs and public policy to support innovation in nuclear energy'. Advanced reactors are

Australian Asian Options

OpenAIRE

Manuel Moreno; Javier F. Navas

2003-01-01

We study European options on the ratio of the stock price to its average and viceversa. Some of these options are traded in the Australian Stock Exchange since 1992, thus we call them Australian Asian options. For geometric averages, we obtain closed-form expressions for option prices. For arithmetic means, we use different approximations that produce very similar results.

Managing the side effects of multiple sclerosis therapy: pharmacotherapy options for patients.

Science.gov (United States)

Rommer, Paulus S; Zettl, Uwe K

2018-04-01

Multiple sclerosis (MS) is an immune-mediated and neurodegenerative disease with an unpredictable outcome. Immune-modulatory treatment aims at decreasing long-term disability. With the increasing number of treatment options, it is essential to fully digest the possible side effects of the available therapeutics and to monitor patients is essential. Areas covered: All approved disease-modifying drugs (DMD) for MS are discussed in this review. Mode of action, adverse effects, reported risks for infections and malignancies, and pregnancy related issues are discussed in the review. The authors also provide suggestions for monitoring therapy. For all approved DMDs the pivotal studies have been included for possible side effects, as well as reports by health authorities. For this manuscript, PubMed was checked for reports on side effects for various drugs. Expert opinion: Treatment options in MS are manifold, each carrying different risks. The safety-risk profile for approved agents is favorable. Knowing and monitoring these possible side effects is essential to minimize risks associated with treatment. Presently, the long-term experience for some of these therapies is missing and this must be addressed.

Study of application of option B at integrated leakage tests on Swedish reactor containments; Utredning om tillaempning av option B vid integrala taethetsprover paa svenska reaktorinneslutningar

Energy Technology Data Exchange (ETDEWEB)

Karlsson, Roger [Royal Inst. of Tech., Stockholm (Sweden). Dept. of Reactor Technology

2004-12-15

The task of the reactor containment is to protect the environment from radioactive release from the nuclear power plant. The containment is a passive component and one can therefore not verify its success criteria during normal operation. To verify the integrity of the containment one has to perform integrated leakage tests (type A tests). These tests are performed in accordance with either option A or B in the American regulation Appendix J 10 CFR 50. The choice of option is up to the licensee. Option A does not consider the leakage history of the containment. The test interval is fixed and set to three tests equally distributed over ten years. The test pressure shall be at least half of the design basis accident pressure (DBA-pressure). Option B does take the leakage history into consideration and is therefore performance-based. The test interval can be chosen to a maximum of ten years. The test pressure shall be the DBA-pressure. In Sweden the type A tests are performed in accordance with option A. The purpose of this investigation is to investigate whether option B can be used in Sweden without any significant risk impact. Performance of a type A test with half of the design pressure can result in an undetected leak. If a leak is of such characteristic that it does not show any leakage behaviour until it is exposed to a certain level of pressure where it can open itself, the leak can be missed during a test with too low pressure. On the other hand, option B demands a higher test pressure which contributes to the risk during the performance of the type A test. The advantage of a more correct result from the type A test is considered to be greater than the disadvantage of a high test-pressure. Hence, Type A test shall be performed with the realistic DBA-pressure. The work has included a literature study, telephone interviews, local meetings and analyses of existing PSA results and reports in the subject. An investigation of the On-Line Monitoring (OLM) method is

Disposal Options for Low and Intermediate-Level Radioactive Waste: Comparative Study

International Nuclear Information System (INIS)

Abdellatif, M.M.

2013-01-01

This study presents the status of current disposal options for Low and Intermediate- Level Radioactive Waste (LILRW) generated in different countries and outlines the potential for future disposal option/s of these wastes in Egypt. Since approaches used in other countries may provide useful lessons for managing Egyptian radioactive wastes. This study was based on data for19 countries repositories and we focused on 6 countries, which considered as leaders in the field of disposal of rad waste. Several countries have plans for repositories which are sufficiently advanced that it was based on their own of their extensive experience with nuclear power generation and with constructing and operating LLRW disposal facilities. On the other hand, our programme for site selection and host rock characterization for low and intermediate level radioactive waste disposal is under study. We are preparing our criteria for selecting a national repository for LIL rad waste.

Analytical pricing of geometric Asian power options on an underlying driven by a mixed fractional Brownian motion

Science.gov (United States)

Zhang, Wei-Guo; Li, Zhe; Liu, Yong-Jun

2018-01-01

In this paper, we study the pricing problem of the continuously monitored fixed and floating strike geometric Asian power options in a mixed fractional Brownian motion environment. First, we derive both closed-form solutions and mixed fractional partial differential equations for fixed and floating strike geometric Asian power options based on delta-hedging strategy and partial differential equation method. Second, we present the lower and upper bounds of the prices of fixed and floating strike geometric Asian power options under the assumption that both risk-free interest rate and volatility are interval numbers. Finally, numerical studies are performed to illustrate the performance of our proposed pricing model.

Greenhouse gas abatement in Senegal. A case study of least-cost options

International Nuclear Information System (INIS)

Amous, S.; Revet, D.; Sokona, Y.

1994-01-01

The first stage of the study was to make a preliminary inventory of greenhouse gas (GHG) emissions for the base year 1988. Following this seven no regret technical options for emission reduction were investigated and the costs calculated, allowing the identification of three least-cost options. The three least-cost options must be implemented first because of their negative costs. The economic benefits of both abatement scenarios are characterized by a negative global cost whatever the discount rate is. (author)

ACCOUNTING FOR OPTIONS AND ANALYSIS OF USE OF OPTION COMBINATION STRATEGIES

Directory of Open Access Journals (Sweden)

I. Derun

2016-08-01

Full Text Available The article deals with problems of accounting for options in Ukraine, namely: value expression of initial cost of options, their revaluation, accounting of premiums, financial assets and financial liabilities and variation margin. The paper offers ways of solution of these problems which based on harmonization with IAS 32, IAS 39, IFRS 7 and IFRS 9. The study considers option combination strategies (straddle, strangle, strap, strip and approaches of identification of possible financial results for investors which use these strategies. Examples of possible financial results are provided for buyers and sellers of options which use option combination strategies.

Management options for recycling radioactive scrap metals

Energy Technology Data Exchange (ETDEWEB)

Dehmel, J.C.; MacKinney, J.; Bartlett, J.

1997-02-01

The feasibility and advantages of recycling radioactive scrap metals (RSM) have yet to be assessed, given the unique technical, regulatory, safety, and cost-benefit issues that have already been raised by a concerned recycling industry. As is known, this industry has been repeatedly involved with the accidental recycling of radioactive sources and, in some cases, with costly consequences. If recycling were deemed to be a viable option, it might have to be implemented with regulatory monitoring and controls. Its implementation may have to consider various and complex issues and address the requirements and concerns of distinctly different industries. There are three basic options for the recycling of such scraps. They are: (1) recycling through the existing network of metal-scrap dealers and brokers, (2) recycling directly and only with specific steelmills, or (3) recycling through regional processing centers. Under the first option, scrap dealers and brokers would receive material from RSM generators and determine at which steelmills such scraps would be recycled. For the second option, RSM generators would deal directly with selected steelmills under specific agreements. For the third option, generators would ship scraps only to regional centers for processing and shipment to participating steelmills. This paper addresses the potential advantages of each option, identifies the types of arrangements that would need to be secured among all parties, and attempts to assess the receptivity of the recycling industry to each option.

Energy options

International Nuclear Information System (INIS)

Hampton, Michael

1999-01-01

This chapter focuses on energy options as a means of managing exposure to energy prices. An intuitive approach to energy options is presented, and traditional definitions of call and put options are given. The relationship between options and swaps, option value and option exercises, commodity options, and option pricing are described. An end-user's guide to energy option strategy is outlined, and straight options, collars, participating swaps and collars, bull and bear spreads, and swaption are examined. Panels explaining the defining of basis risk, and discussing option pricing and the Greeks, delta hedging, managing oil options using the Black-Scholes model, caps, floors and collars, and guidelines on hedging versus speculation with options are included in the paper

Options with Extreme Strikes

Directory of Open Access Journals (Sweden)

Lingjiong Zhu

2015-07-01

Full Text Available In this short paper, we study the asymptotics for the price of call options for very large strikes and put options for very small strikes. The stock price is assumed to follow the Black–Scholes models. We analyze European, Asian, American, Parisian and perpetual options and conclude that the tail asymptotics for these option types fall into four scenarios.

48 CFR 552.217-71 - Notice Regarding Option(s).

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Notice Regarding Option(s... Notice Regarding Option(s). As prescribed in 517.208(b), insert the following provision: Notice Regarding Option(s) (NOV 1992) The General Services Administration (GSA) has included an option to [Insert...

Option price and market instability

Science.gov (United States)

Baaquie, Belal E.; Yu, Miao

2017-04-01

An option pricing formula, for which the price of an option depends on both the value of the underlying security as well as the velocity of the security, has been proposed in Baaquie and Yang (2014). The FX (foreign exchange) options price was empirically studied in Baaquie et al., (2014), and it was found that the model in general provides an excellent fit for all strike prices with a fixed model parameters-unlike the Black-Scholes option price Hull and White (1987) that requires the empirically determined implied volatility surface to fit the option data. The option price proposed in Baaquie and Cao Yang (2014) did not fit the data during the crisis of 2007-2008. We make a hypothesis that the failure of the option price to fit data is an indication of the market's large deviation from its near equilibrium behavior due to the market's instability. Furthermore, our indicator of market's instability is shown to be more accurate than the option's observed volatility. The market prices of the FX option for various currencies are studied in the light of our hypothesis.

Dynamique jointe stock/option et application aux stratégies de trading sur options

OpenAIRE

El Aoud , Sofiene

2015-01-01

This thesis explores theoretically and empirically the implications of the stock/option joint dynamics on applications related to option trading. In the first part of the thesis, we look into the relations between stock options and index options under the risk-neutral measure. The Capital Asset Pricing Model offers an adequate mathematical framework for this study as it provides a modeling approach for the joint dynamics between the stock and the index. As we compute option prices according t...

Lunar Transportation Facilities and Operations Study, option 1

Science.gov (United States)

1991-05-01

Throughout the Option I period of the Lunar Transportation Facilities and Operations Study (LTFOS), McDonnell Douglas Space Systems Company - Kennedy Space Center (MDSSC-KSC) provided support to both the Planetary Surface Systems (PSS) Office at the National Aeronautics and Space Administration (NASA) at the Johnson Space Center and to the Flight and Ground Systems Projects Office (Payload Projects Management) at the Kennedy Space Center. The primary objective of the Option I phase of the study was to assist the above NASA centers in developing Space Exploration Initiative (SEI) concepts. MDSSC-KSC conducted three analyses which provided launch and landing detail to the proposed exploration concepts. One analysis, the Lunar Ejecta Assessment, was conducted to determine the effects of launch and landing a vehicle in a dusty environment. A second analysis, the Thermal/Micrometeoroid Protection Trade Study, was refined to determine the impacts that Reference Architecture Option 5A would have on thermal/micrometeoroid protection approaches. The third analysis, the Centaur Prelaunch Procedure Analysis, used a Centaur prelaunch test and checkout flow to identify key considerations that would be important if a Lunar Excursion Vehicle (LEV) was to use an expander cycle liquid oxygen-liquid hydrogen engine. Several 'quick look' assessments were also conducted. One quick look assessment, the Storable Propellant Quick Look Assessment, was conducted to identify design considerations that should be made if storable propellants were to be used instead of liquid oxygen and liquid hydrogen. The LEV Servicer Maintenance Analysis provided an early look at the effort required to maintain an LEV Servicer on the lunar surface. Also, support was provided to the PSS Logistics Manager to develop initial LEV Servicer cost inputs. Consideration was given to the advanced development that must be provided to accomplish a lunar and/or Mars mission. MDSS-KSC also provided support to both MASE

Tools for automated acoustic monitoring within the R package monitoR

DEFF Research Database (Denmark)

Katz, Jonathan; Hafner, Sasha D.; Donovan, Therese

2016-01-01

The R package monitoR contains tools for managing an acoustic-monitoring program including survey metadata, template creation and manipulation, automated detection and results management. These tools are scalable for use with small projects as well as larger long-term projects and those...... with expansive spatial extents. Here, we describe typical workflow when using the tools in monitoR. Typical workflow utilizes a generic sequence of functions, with the option for either binary point matching or spectrogram cross-correlation detectors....

Tools for automated acoustic monitoring within the R package monitoR

Science.gov (United States)

Katz, Jonathan; Hafner, Sasha D.; Donovan, Therese

2016-01-01

The R package monitoR contains tools for managing an acoustic-monitoring program including survey metadata, template creation and manipulation, automated detection and results management. These tools are scalable for use with small projects as well as larger long-term projects and those with expansive spatial extents. Here, we describe typical workflow when using the tools in monitoR. Typical workflow utilizes a generic sequence of functions, with the option for either binary point matching or spectrogram cross-correlation detectors.

Safeguard Application Options for the Laser-Based Item Monitoring System (LBIMS)

International Nuclear Information System (INIS)

Laughter, Mark D

2008-01-01

Researchers at Oak Ridge National Laboratory (ORNL) are developing a Laser-Based Item Monitoring System (LBIMS) for advanced safeguards at nuclear facilities. LBIMS uses a low-power laser transceiver to monitor the presence and position of items with retroreflective tags. The primary advantages of LBIMS are its scalability to continuously monitor a wide range of items, its ability to operate unattended, its low cost of implementation, and its inherent information security due to its line-of-sight and non-broadcasting operation. The primary proposed safeguard application of LBIMS is described in its name: item monitoring. LBIMS could be implemented in a storage area to continuously monitor containers of nuclear material and the area in which they are stored. The system could be configured to provide off-site notification if any of the containers are moved or removed or if the area is accessed. Individual tags would be used to monitor storage containers, and additional tags could be used to record information regarding secondary storage units and room access. The capability to register small changes in tag position opens up the possibility of several other uses. These include continuously monitoring piping arrangements for design information verification or recording equipment positions for other safeguards systems, such as tracking the opening and closing of autoclaves as part of a cylinder tracking system or opening and closing valves on a sample or product take-off line. Combined with attribute tags, which transmit information from any kind of sensor by modulating the laser signal, LBIMS provides the capability to wirelessly and securely collect safeguards data, even in areas where radio-frequency or other wireless communication methods are not practicable. Four application types are described in this report: static item monitoring, in-process item monitoring with trigger tags, multi-layered integration with trigger tags, and line-of-sight data transfer with

Energy exotic options

International Nuclear Information System (INIS)

Kaminski, V.; Gibner, S.; Pinnamaneni, K.

1999-01-01

This chapter with 88 references focuses on the use of exotic options to control exposure to energy prices. Exotic options are defined, and the conversion of a standard option into an exotic option and pricing models are examined. Pricing and hedging exotic options, path-dependent options, multi-commodity options, options on the minimum-or-maximum of two commodities, compound options, digital options, hybrid and complex structures, and natural gas daily options are described. Formulas for option pricing for vanilla, barrier, compound, options on minimum or maximum of two assets, and look back options are given in an appendix

[Alaskan commodities irradiation project: An options analysis study

International Nuclear Information System (INIS)

Zarling, J.P.; Swanson, R.B.; Logan, R.R.

1989-09-01

The ninety-ninth US Congress commissioned a six-state food irradiation research and development program to evaluate the commercial potential of this technology. Hawaii, Washington, Iowa, Oklahoma and Florida as well as Alaska have participated in the national program; various food products including fishery products, red meats, tropical and citrus fruits and vegetables have been studied. The purpose of the Alaskan study was to review and evaluate those factors related to the technical and economic feasibility of an irradiator in Alaska. This options analysis study will serve as a basis for determining the state's further involvement in the development of food irradiation technology

Radiological impacts of spent nuclear fuel management options. A comparative study

International Nuclear Information System (INIS)

2000-01-01

Given its potential significance for public health and the environment, the impact of radioactive releases during important steps of nuclear energy production must be considered when selecting among different fuel cycles. With this in mind, the OECD Nuclear Energy Agency (NEA) has undertaken a comparative study to the radiological impacts of two main fuel cycle options : one with and one without reprocessing of spent nuclear fuel. The study compares the respective impacts of the two options based on generic models and assumptions as well as actual data. It concludes that the difference between them is not significant. A wealth of recent data assembled and evaluated by an international expert team is provided in annex. (authors)

Surgical options for lumbosacral fusion: biomechanical stability, advantage, disadvantage and affecting factors in selecting options.

Science.gov (United States)

Yoshihara, Hiroyuki

2014-07-01

Numerous surgical procedures and instrumentation techniques for lumbosacral fusion (LSF) have been developed. This is probably because of its high mechanical demand and unique anatomy. Surgical options include anterior column support (ACS) and posterior stabilization procedures. Biomechanical studies have been performed to verify the stability of those options. The options have their own advantage but also disadvantage aspects. This review article reports the surgical options for lumbosacral fusion, their biomechanical stability, advantages/disadvantages, and affecting factors in option selection. Review of literature. LSF has lots of options both for ACS and posterior stabilization procedures. Combination of posterior stabilization procedures is an option. Furthermore, combinations of ACS and posterior stabilization procedures are other options. It is difficult to make a recommendation or treatment algorithm of LSF from the current literature. However, it is important to know all aspects of the options and decision-making of surgical options for LSF needs to be tailored for each patient, considering factors such as biomechanical stress and osteoporosis.

RELAP4 stagnation properties option

International Nuclear Information System (INIS)

DeYoung, T.L.

1979-01-01

The stagnation properties option in RELAP4/MOD6 was completely reviewed, from theoretical foundation to code application. The result of this investigation was the identification of a fundamental mismatch between the essentially homogeneous, equilibrium-based, RELAP4 code and the nonhomogeneous and/or nonequilibrium critical flow models imposed on the code. By continuously monitoring fluid Mach numbers and adjusting flow areas such that sonic velocity was never exceeded, the mismatch could be accommodated. This approach was implemented, found to work correctly, and will be incorporated into the MOD7 version of the code

Dopamine Modulates Option Generation for Behavior.

Science.gov (United States)

Ang, Yuen-Siang; Manohar, Sanjay; Plant, Olivia; Kienast, Annika; Le Heron, Campbell; Muhammed, Kinan; Hu, Michele; Husain, Masud

2018-05-21

Animals make innumerable decisions every day, each of which involves evaluating potential options for action. But how are options generated? Although much is now known about decision making when a fixed set of potential options is provided, surprisingly little progress has been made on self-generated options. Some researchers have proposed that such abilities might be modulated by dopamine. Here, we used a new measure of option generation that is quantitative, objective, and culture fair to investigate how humans generate different behavioral options. Participants were asked to draw as many different paths (options) as they could between two points within a fixed time. Healthy individuals (n = 96) exhibited a trade-off between uniqueness (how individually different their options were) and fluency (number of options), generating either many similar or few unique options. To assess influence of dopamine, we first examined patients with Parkinson's disease (n = 35) ON and OFF their dopaminergic medication and compared them to elderly healthy controls (n = 34). Then we conducted a double-blind, placebo-controlled crossover study of the D2 agonist cabergoline in healthy older people (n = 29). Across both studies, dopamine increased fluency but diminished overall uniqueness of options generated, due to the effect of fluency trading off with uniqueness. Crucially, however, when this trade-off was corrected for, dopamine was found to increase uniqueness for any given fluency. Three carefully designed control studies showed that performance on our option-generation task was not related to executing movements, planning actions, or selecting between generated options. These findings show that dopamine plays an important role in modulating option generation. Copyright © 2018 The Author(s). Published by Elsevier Ltd.. All rights reserved.

20 CFR 416.2035 - Optional supplementation: Additional State options.

Science.gov (United States)

2010-04-01

... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Optional supplementation: Additional State options. 416.2035 Section 416.2035 Employees' Benefits SOCIAL SECURITY ADMINISTRATION SUPPLEMENTAL... § 416.2035 Optional supplementation: Additional State options. (a) Residency requirement. A State or...

Option-implied term structures

OpenAIRE

Vogt, Erik

2014-01-01

The illiquidity of long-maturity options has made it difficult to study the term structures of option spanning portfolios. This paper proposes a new estimation and inference framework for these option-implied term structures that addresses long-maturity illiquidity. By building a sieve estimator around the risk-neutral valuation equation, the framework theoretically justifies (fat-tailed) extrapolations beyond truncated strikes and between observed maturities while remaining nonparametric. Ne...

Preliminary study of possible ORELA replacement options

International Nuclear Information System (INIS)

Olsen, D.K.; Martin, J.A.; Horen, D.J.

1984-06-01

Based on two conceptual design studies performed by the LANL Accelerator Technology Division, the possibilities in terms of accelerator systems for replacing ORELA with a more intense Maxwellian-type continuous-energy neutron source are summarized and discussed. The neutron intensities from ORELA are compared with those from existing or potential accelerator systems used for cross-section and condensed-matter studies. The best replacement options seem to involve a spallation source from 200- to 400-MeV protons on an ORELA-like target. Pulsing and intensity desiderata with such a source are discussed which correspond to a spectrum-averaged 100-fold improved figure of merit over ORELA for TOF measurements with only a tenfold increased source strength. Existing accelerator designs seem to be inadequate for such a source. Consequently, two conceptual designs were developed for this study by the LANL Accelerator Technology Division. The first conceptual design is for a 200-MeV large linac capable of accelerating 1.3 A during a macropulse; this linac standing alone could serve as an ORELA replacement source. The second conceptual design is for a much smaller 250-MeV PIGMI linac with a 28-mA macropulse current which feeds a proton accumulator ring and bunch-compressor transport line. This linac-ring-compressor (LIRIC) option would give a more cost-effective neutron source for cross-section measurements, whereas the large linac, or a modified version of it, would give a much simpler system more suitable for expansion. In particular, both conceptual designs would incorporate the present ORELA building and would provide approximately 100-fold improved neutron sources over ORELA for cross-section measurements. The total estimated cost of the LIRIC system would be $43M (1984), whereas the cost of the large linac would be about a factor of two more. 55 references, 11 figures, 19 tables

Balancing of solar heating options

NARCIS (Netherlands)

Veltkamp, W.B.; van Koppen, C.W.J.; Ouden, den C.

1984-01-01

In the field of energy conservation many options are presently competing. This study aims at providing more rational criteria for selection between these options.The options considered are; insulation of the walls, regeneration of the heat in the waste air, double glazing, attached sunspace at the

Impact of Flexibility Options on Grid Economic Carrying Capacity of Solar and Wind: Three Case Studies

Energy Technology Data Exchange (ETDEWEB)

Denholm, Paul [National Renewable Energy Lab. (NREL), Golden, CO (United States); Novacheck, Joshua [National Renewable Energy Lab. (NREL), Golden, CO (United States); Jorgenson, Jennie [National Renewable Energy Lab. (NREL), Golden, CO (United States); O' Connell, Matthew [National Renewable Energy Lab. (NREL), Golden, CO (United States)

2016-12-01

In this study, we attempt to quantify the benefits of various options of grid flexibility by measuring their impact on two measures: economic carrying capacity and system costs. Flexibility can increase ECC and reduce overall system costs. In some cases, options that provide a limited increase in ECC can provide significant operational savings, thus demonstrating the need to evaluate flexibility options using multiple metrics. The value of flexibility options varies regionally due to different generation mixes and types of renewables. The more rapid decline in PV value compared to wind makes PV more dependent on adding flexibility options, including transmission and energy storage.

Efficient Trajectory Options Allocation for the Collaborative Trajectory Options Program

Science.gov (United States)

Rodionova, Olga; Arneson, Heather; Sridhar, Banavar; Evans, Antony

2017-01-01

The Collaborative Trajectory Options Program (CTOP) is a Traffic Management Initiative (TMI) intended to control the air traffic flow rates at multiple specified Flow Constrained Areas (FCAs), where demand exceeds capacity. CTOP allows flight operators to submit the desired Trajectory Options Set (TOS) for each affected flight with associated Relative Trajectory Cost (RTC) for each option. CTOP then creates a feasible schedule that complies with capacity constraints by assigning affected flights with routes and departure delays in such a way as to minimize the total cost while maintaining equity across flight operators. The current version of CTOP implements a Ration-by-Schedule (RBS) scheme, which assigns the best available options to flights based on a First-Scheduled-First-Served heuristic. In the present study, an alternative flight scheduling approach is developed based on linear optimization. Results suggest that such an approach can significantly reduce flight delays, in the deterministic case, while maintaining equity as defined using a Max-Min fairness scheme.

Options for the management of Chernobyl-restricted areas in England and Wales

International Nuclear Information System (INIS)

Nisbet, Anne; Woodman, Rona

2000-01-01

Areas in England and Wales are still subject to restrictions on the movement, sale and slaughter of sheep because activity concentrations of 137 Cs in sheepmeat may exceed the 1000 Bq kg -1 limit imposed after the Chernobyl nuclear power plant accident. The operation of various monitoring programmes has enabled lamb production to be sustained in restricted areas. Under present circumstances, it is predicted that some restrictions will remain until at least 2003. This paper describes an assessment of the practicability and cost-effectiveness of five alternative management options: utilisation of existing improved land for the purposes of clean feeding; improvement of unimproved upland grazing for the purposes of clean feeding; provision of housing and clean feed; administration of boli containing ammonium ferric hexacyanoferrate; and monitoring at the market place. The practicability of each option, which encompasses technical feasibility, capacity, cost, impact and acceptability, was assessed through a series of case studies carried out on farms in the restricted area of north Wales, and through consultation with a range of organisations with interests in farming and/or the environment. Recommendations are made for the future management of the restricted areas

Impact of Flexibility Options on Grid Economic Carrying Capacity of Solar and Wind: Three Case Studies

Energy Technology Data Exchange (ETDEWEB)

Denholm, Paul [National Renewable Energy Lab. (NREL), Golden, CO (United States); Novacheck, Joshua [National Renewable Energy Lab. (NREL), Golden, CO (United States); Jorgenson, Jennie [National Renewable Energy Lab. (NREL), Golden, CO (United States); O' Connell, Matthew [National Renewable Energy Lab. (NREL), Golden, CO (United States)

2016-12-01

In this study, we attempt to quantify the benefits of various options of grid flexibility by measuring their impact on two measures: economic carrying capacity and system costs. Flexibility can increase economic carrying capacity and reduce overall system costs. In some cases, options that provide a limited increase in economic carrying capacity can provide significant operational savings, thus demonstrating the need to evaluate flexibility options using multiple metrics. The value of flexibility options varies regionally due to different generation mixes and types of renewables. The more rapid decline in PV value compared to wind makes PV more dependent on adding flexibility options, including transmission and energy storage.

Cost-effective management of hydrocarbon plumes using monitored natural attenuation: case studies

International Nuclear Information System (INIS)

Borg, G.A.

2000-01-01

Engineered remediation of hydrocarbon plumes in groundwater at operating service station sites is expensive, disruptive, does not improve the management of risks to receptors, and does not provide certainty of outcome. When plumes are delineated, potential receptors identified and primary sources removed, monitored natural attenuation (MINA) is a cost-effective remediation option. If available, hydrocarbon concentration data from successive groundwater monitoring events showing that a plume is stable or reducing will provide enough primary evidence that natural attenuation is occurring. Where potential receptors will not be impacted in the short to medium term, MNA provides the same level of risk management as engineered remediation with much less cost, no disruption to the service station business, and with a certainty of meeting the objectives of the remediation

Pricing early-exercise and discrete barrier options by Shannon wavelet expansions

NARCIS (Netherlands)

Maree, S. C.; Ortiz-Gracia, L.; Oosterlee, C. W.

2017-01-01

We present a pricing method based on Shannon wavelet expansions for early-exercise and discretely-monitored barrier options under exponential L,vy asset dynamics. Shannon wavelets are smooth, and thus approximate the densities that occur in finance well, resulting in exponential convergence.

Inventory and monitoring options of peatlands at regional scale

DEFF Research Database (Denmark)

Gardi, Ciro; Sommer, Stefan; Seep, Kalev

2010-01-01

Determination of the spatial extent of peatlands and monitoring their status is important for the evaluation of soil carbon stocks and greenhouse gas fluxes. At European Level there is a need to provide accurate and updated estimate of the distribution of peatlands. Comparison of national data wi...

PWR Core II blanket fuel disposition recommendation of storage option study

International Nuclear Information System (INIS)

Dana, C.M.

1995-01-01

After review of the options available for current storage of T Plant Fuel the recommended option is wet storage without the use of chillers. A test has been completed that verifies the maximum temperature reached is below the industrial standard for storage of spent fuel. This option will be the least costly and still maintain the fuel in a safe environment. The options that were evaluated included dry storage with and without chillers, and wet storage with and without chillers. Due to the low decay heat of the Shippingport Core II Blanket fuel assemblies the fuel pool temperature will not exceed 100 deg. F

Land Management Restrictions and Options for Change in Perpetual Conservation Easements

Science.gov (United States)

Rissman, Adena; Bihari, Menka; Hamilton, Christopher; Locke, Christina; Lowenstein, David; Motew, Melissa; Price, Jessica; Smail, Robert

2013-07-01

Conservation organizations rely on conservation easements for diverse purposes, including protection of species and natural communities, working forests, and open space. This research investigated how perpetual conservation easements incorporated property rights, responsibilities, and options for change over time in land management. We compared 34 conservation easements held by one federal, three state, and four nonprofit organizations in Wisconsin. They incorporated six mechanisms for ongoing land management decision-making: management plans (74 %), modifications to permitted landowner uses with discretionary consent (65 %), amendment clauses (53 %), easement holder rights to conduct land management (50 %), reference to laws or policies as compliance terms (47 %), and conditional use permits (12 %). Easements with purposes to protect species and natural communities had more ecological monitoring rights, organizational control over land management, and mechanisms for change than easements with general open space purposes. Forestry purposes were associated with mechanisms for change but not necessarily with ecological monitoring rights or organizational control over land management. The Natural Resources Conservation Service-Wetland Reserve Program had a particularly consistent approach with high control over land use and some discretion to modify uses through permits. Conservation staff perceived a need to respond to changing social and ecological conditions but were divided on whether climate change was likely to negatively impact their conservation easements. Many conservation easements involved significant constraints on easement holders' options for altering land management to achieve conservation purposes over time. This study suggests the need for greater attention to easement drafting, monitoring, and ongoing decision processes to ensure the public benefits of land conservation in changing landscapes.

Status of feasibility study for various technical options of FBR systems

International Nuclear Information System (INIS)

Kani, Yoshio

2000-01-01

JNC (Japan Nuclear Cycle Development Institute) has started a new research project of feasibility studies (F/S) for a wide variety option of fast breeder reactor (FBR) and related fuel cycle in order to develop an economically competitive FBR cycle system fro commercialization. JNC and the electric untilities in Japan have established a new organization in JNC to perform the F/S since July 1, 1999. The organization has undertaken feasibility studies (F/S) in order to determine promising FBR cycle concepts and define necessary RandD tasks. The long-term targets of commercialized FBR cycle system are set as ensuring safety, economic competitiveness relative to future LWRs, efficient utilization of resources, reduction in environmental burden, and enhancement of nuclear non-proliferation. This paper describes the progress of design studies for a wide variety of technical options of FBR plants in the framework of the F/S. We make efforts towards considering all key issues so as not to fail to notice the best concept in a commercialized stage. In the study of technical options, the identified coolant types are sodium, heavy metal (lead and lead-bismuth), gas (carbon dioxide and helium ) and water (boiling water, pressurized water and supercritical water). The classified types of fuel are mixed oxide, nitride and metal. Design studies of small size modular plant concepts are also performed. We study many reactor concepts in combination with a coolant type and a fuel type, understand characteristics of each reactor concept based on our experience and an extensive survey of literature, and make a draft design of each reactor concept for rough estimation of construction costs. We also check how far the concept accomplishes each index (safety, economy, resource utilization, etc.) of design requirements, and will select several promising reactor concepts. (author)

Risk-based decision-making framework for the selection of sediment dredging option.

Science.gov (United States)

Manap, Norpadzlihatun; Voulvoulis, Nikolaos

2014-10-15

The aim of this study was to develop a risk-based decision-making framework for the selection of sediment dredging option. Descriptions using case studies of the newly integrated, holistic and staged framework were followed. The first stage utilized the historical dredging monitoring data and the contamination level in media data into Ecological Risk Assessment phases, which have been altered for benefits in cost, time and simplicity. How Multi-Criteria Decision Analysis (MCDA) can be used to analyze and prioritize dredging areas based on environmental, socio-economic and managerial criteria was described for the next stage. The results from MCDA will be integrated into Ecological Risk Assessment to characterize the degree of contamination in the prioritized areas. The last stage was later described using these findings and analyzed using MCDA, in order to identify the best sediment dredging option, accounting for the economic, environmental and technical aspects of dredging, which is beneficial for dredging and sediment management industries. Copyright © 2014 Elsevier B.V. All rights reserved.

Options for Reducing the Deficit: 2014 to 2023

Science.gov (United States)

2013-11-01

and 2023, the Congressional Budget Office estimates. The main argument for this option is that increased capa- bilities in electronics and information...small cigars , which are gen- erally viewed as a close substitute for cigarettes and are currently taxed by the federal government at the same rate as...measurement and standards—what measurements producers of nanoparticles can use to monitor quality, for example, or methods for testing electronic systems of

THE REAL OPTIONS OF CAPITAL BUDGET

Directory of Open Access Journals (Sweden)

Antonio Lopo Martins

2008-07-01

Full Text Available The traditional techniques of capital budget, as the deducted cash flow and the net value present, do not incorporate existing flexibilities in an investment project, they tend to distort the value of certain investments, mainly those that are considered in scenes of uncertainty and risk. Therefore, this study intends to demonstrate that the Real Options Theory (TOR is a useful methodology to evaluate and to indicate the best option for project of expansion investment. To reach the considered objective the procedure method was used a case study, having as unit of case the Resort Praia Hotel do Litoral Norte of Salvador. This study was developed of the following form: first it identified the traditional net value present and later it was incorporated the volatileness of each analyzed uncertainty. Second, as the real options are analogous to the financial options, it was necessary to identify elements that composed the terminologies of the financial options with intention to get the value of the real option. For this model of options pricing of Black & Scholes jointly with a computational simulator was used (SLS to get the expanded net value present. As a result of this study it was possible to evidence that using the traditional tool of capital budget Net Value Present (VPL is negative, therefore the project of expansion of the Hotel would be rejected. While for the application of methodology TOR the project presents positive Expanded Present Value which would represent an excellent chance of investment. Key-word: Capital budget, Real options, Analysis of investments.

Comparative studies of energy supply options in Poland for 1997-2020

International Nuclear Information System (INIS)

2002-08-01

Poland depends heavily on coal to satisfy national demands for electricity. Currently, over 90% of electricity generation is produced by coal fired power plants. Because of the large dependence on coal and environmental impacts of large-scale coal combustion the country looks for a more diversified energy mix. As ways of diversification, Poland is considering the expanded role of natural gas and, potentially, nuclear power in the future energy mix. This publication describes the analysis of several diversification options for the Polish energy sector conducted by a national team in the framework of an IAEA Technical Cooperation project implemented in 1999-2000. The project provided a set of proven IAEA methodologies and tools that was utilized for a comprehensive analysis and comparison of the options including their economic competitiveness and environmental impacts. The publication is intended primarily for senior experts and technical staff in governmental organizations, research institutes, industries and utilities, who are in charge of technical analysis or decision making related to long term energy and power supply options. The report was prepared in 2001 by the staff of the Energy Market Agency (EMA, Warsaw, Poland) that was the leading Polish organization in carrying out the study

A feasability study of possible machine options

International Nuclear Information System (INIS)

Asner, A.; Baconnier, Y.; Barbalat, O.; Bassetti, M.; Benvenuti, C.; Billinge, R.; Boussard, D.; Brandt, D.; Brianti, G.; Calder, R.; Evans, L.R.; Fasso, A.; Gareyte, J.; Garoby, R.; Goebel, K.; Groebner, O.; Haebel, E.; Hagedorn, D.; Henke, H.; Hilleret, N.; Hoefert, M.; Huebner, K.; Hutton, A.; Johnson, K.; Jowett, J.; Keil, E.; Laurent, J.M.; Lebrun, P.; Leroy, D.; Morpurgo, M.; Myers, S.; Perin, R.; Picasso, E.; Poncet, A.; Reinhardt, H.P.; Resegotti, L.; Rubbia, C.; Scandale, W.; Schmid, J.; Schnell, W.; Schoenbacher, H.; Stevenson, G.; Tortschanoff, T.; Vos, L.; Weisse, E.; Wilson, I.; Wolf, R.; Zotter, B.

1984-01-01

This feasibility study deals with proton-proton and proton-antiproton colliders with centre-of-mass energies from 10 to 18 TeV, which could be installed in the tunnel after the completion of LEP. Since the main purpose of the study is to determine the influence of limitations in space and technology, most of the work has been devoted to the proton-proton option at the higher energy which, while being the most demanding holds the promise of best performance (luminosity up to approx.= 10 33 cm -2 s -1 ) and greatest reliability. It turns out that the space in the tunnel above LEP will be quite adequate. Proton-antiproton operation would also be possible in such a machine at lower luminosity. Of course the tunnel could also house a single-channel proton-antiproton collider, operating up to the highest energy but at a lower luminosity. (orig.)

Approach to studying the nuclear power option in Malaysia

International Nuclear Information System (INIS)

Jamal Khair Ibrahim; Mohamad Zam Zam

1986-01-01

As a rapid growth in industrialisation and population policy, energy consumption in Malaysia has increased cosiderably. The nation is pursuing a course of diversification of primary energy sources: gas, hydro, coal and oil. Recently nuclear power programme is assessed and evaluated as another energy option in the fuel strategy. Studies of infrastructure, manpower technological and other related considerations are included. Impacts and policy implications of the introduction of nuclear power in Malaysia are also discussed. (A.J.)

Feasibility Study for the Ivano-Frankivsk District Heating Repowering: Analysis of Options

Energy Technology Data Exchange (ETDEWEB)

Markel, L.; Popelka, A.; Laskarevsky, V.

2002-03-20

Part of the U.S. Initiative on Joint Implementation with the Ukraine Inter-Ministerial Commission on Climate Change, financed by the US Department of Energy. The project was implemented by a team consisting of the US company SenTech, Inc. and the Ukrainian company Esco-West. The main objective of the effort was to assess available alternatives of Ivano-Frankivsk (I-F) District Heating repowering and provide information for I-F's investment decision process. This study provides information on positive and negative technical and economic aspects of available options. Three options were analyzed for technical merit and economic performance: 1. Installation of cogeneration system based on Gas Turbine (GT) and Heat Recovery Heat Exchanger with thermal capacity of 30 MW and electrical capacity of 13.5 MW. This Option assumes utilization of five existing boilers with total capacity of 221 MW. Existing boilers will be equipped with modern controls. Equipment in this Option was sized for longest operating hours, about 8000 based on the available summer baseload. 2. Installation of Gas Turbine Combined Cycle (GTCC) and Heat Recovery Steam Generator (HRSG) with thermal capacity 45 MW and electrical capacity of 58.7 MW. This Option assumes utilization of five existing boilers with total capacity of 221 MW. Existing boilers will be equipped with modern controls. The equipment was sized for medium, shoulder season thermal load, and some cooling was assumed during the summer operation for extension of operating hours for electricity production. 3. Retrofit of six existing boilers (NGB) with total thermal capacity of 255.9 MW by installation of modern control system and minor upgrades. This option assumes only heat production with minimum investment. The best economic performance and the largest investment cost would result from alternative GTCC. This alternative has positive Net Present Value (NPV) with discount rate lower than about 12%, and has IRR slightly above 12%. The

Monitoring of peri-operative fluid administration by individualized goal-directed therapy

DEFF Research Database (Denmark)

Bundgaard-Nielsen, M; Holte, Kathrine; Secher, N H

2007-01-01

(n = 725) found a reduced hospital stay. Post-operative nausea and vomiting (PONV) and ileus were reduced in three studies and complications were reduced in four studies. Of the monitors that may be applied for goal-directed therapy, only oesophageal Doppler has been tested adequately; however......, several other options exist. CONCLUSION: Goal-directed therapy with the maximization of flow-related haemodynamic variables reduces hospital stay, PONV and complications, and facilitates faster gastrointestinal functional recovery. So far, oesophageal Doppler is recommended, but other monitors...

Equity Portfolio Management Using Option Price Information

DEFF Research Database (Denmark)

Christoffersen, Peter; Pan, Xuhui (Nick)

We survey the recent academic literature that uses option-implied information to construct equity portfolios. Studies show that equity managers can earn a positive alpha by using information in individual equity options, by using stocks' exposure to information in market index options, and by using...... stocks' exposure to crude oil option information. Option-implied information can also help construct better mean-variance portfolios and better estimates of market beta....

Option-implied measures of equity risk

DEFF Research Database (Denmark)

Chang, Bo-Young; Christoffersen, Peter; Vainberg, Gregory

2012-01-01

Equity risk measured by beta is of great interest to both academics and practitioners. Existing estimates of beta use historical returns. Many studies have found option-implied volatility to be a strong predictor of future realized volatility. We find that option-implied volatility and skewness...... are also good predictors of future realized beta. Motivated by this finding, we establish a set of assumptions needed to construct a beta estimate from option-implied return moments using equity and index options. This beta can be computed using only option data on a single day. It is therefore potentially...

Portfolio insurance using traded options

OpenAIRE

Machado-Santos, Carlos

2001-01-01

Literature concerning the institutional use of options indicates that the main purpose of option trading is to provide investors with the opportunity to create return distributions previously unavailable, considering that options provide the means to manipulate portfolio returns. In such a context, this study intends to analyse the returns of insured portfolios generated by hedging strategies on underlying stock portfolios. Because dynamic hedging is too expensive, we have hedged the stock po...

Controlled Ecological Life Support Systems (CELSS) conceptual design option study

Science.gov (United States)

Oleson, Melvin; Olson, Richard L.

1986-01-01

Results are given of a study to explore options for the development of a Controlled Ecological Life Support System (CELSS) for a future Space Station. In addition, study results will benefit the design of other facilities such as the Life Sciences Research Facility, a ground-based CELSS demonstrator, and will be useful in planning longer range missions such as a lunar base or manned Mars mission. The objectives were to develop weight and cost estimates for one CELSS module selected from a set of preliminary plant growth unit (PGU) design options. Eleven Space Station CELSS module conceptual PGU designs were reviewed, components and subsystems identified and a sensitivity analysis performed. Areas where insufficient data is available were identified and divided into the categories of biological research, engineering research, and technology development. Topics which receive significant attention are lighting systems for the PGU, the use of automation within the CELSS system, and electric power requirements. Other areas examined include plant harvesting and processing, crop mix analysis, air circulation and atmosphere contaminant flow subsystems, thermal control considerations, utility routing including accessibility and maintenance, and nutrient subsystem design.

24-h Efficacy of Glaucoma Treatment Options.

Science.gov (United States)

Konstas, Anastasios G P; Quaranta, Luciano; Bozkurt, Banu; Katsanos, Andreas; Garcia-Feijoo, Julian; Rossetti, Luca; Shaarawy, Tarek; Pfeiffer, Norbert; Miglior, Stefano

2016-04-01

Current management of glaucoma entails the medical, laser, or surgical reduction of intraocular pressure (IOP) to a predetermined level of target IOP, which is commensurate with either stability or delayed progression of visual loss. In the published literature, the hypothesis is often made that IOP control implies a single IOP measurement over time. Although the follow-up of glaucoma patients with single IOP measurements is quick and convenient, such measurements often do not adequately reflect the untreated IOP characteristics, or indeed the quality of treated IOP control during the 24-h cycle. Since glaucoma is a 24-h disease and the damaging effect of elevated IOP is continuous, it is logical that we should aim to understand the efficacy of all treatment options throughout the 24-h period. This article first reviews the concept and value of diurnal and 24-h IOP monitoring. It then critically evaluates selected available evidence on the 24-h efficacy of medical, laser and surgical therapy options. During the past decade several controlled trials have significantly enhanced our understanding on the 24-h efficacy of all glaucoma therapy options. Nevertheless, more long-term evidence is needed to better evaluate the 24-h efficacy of glaucoma therapy and the precise impact of IOP characteristics on glaucomatous progression and visual prognosis.

Options for promoting high-biodiversity REDD+

Energy Technology Data Exchange (ETDEWEB)

Swan, Steve; Mcnally, Richard; Grieg-Gran, Maryanne; Roe, Dilys; Mohammed, Essam Yassin

2011-11-15

International climate and biodiversity conventions agree that to be effective in the long term, strategies to reduce emissions from deforestation, forest degradation, conservation and enhancement of forest carbon stocks, and sustainable forest management (REDD+), must not undermine biodiversity. But how do countries achieve 'high-biodiversity REDD+' in practice? At a global level, options include immediate policy strengthening in international negotiations; promotion of co-benefit standards; and financial incentives and preferences for buying countries. At a national level, developing countries can also promote high-biodiversity REDD+ through more coherent policies; integrated planning; regulatory and economic instruments; and improved monitoring of biodiversity impacts.

Beacon-Colss core monitoring system application and benefits

International Nuclear Information System (INIS)

Boyd, W.A.; Yoon, T.Y.

2005-01-01

Westinghouse and KNFC are creating an upgraded core monitoring system by merging the BEACON system (best estimate analyzer for core operation-nuclear) and COLSS (core operating limit supervisory system) into an integrated product. Although both BEACON and COLSS are core monitoring systems that have been in operation at many plants for a number of years, they each have some features and capabilities that are not in the other. Therefore it has been decided to incorporate portions of COLSS into the beacon system to create an optional level to support core monitoring applications on selected combustion engineering (C-E) designed plants. This optional level in the beacon system will be called BEACON-COLSS and will allow the beacon system to monitor the LCO's and Tech Spec limits at CE plants that currently use COLSS. This paper will present the structure of the new core monitoring system and the benefits it achieves for current COLSS plants, i.e., CE plants in the US and KSNP (Korean standard nuclear power plant). (authors)

Energy options for residential buildings assessment

International Nuclear Information System (INIS)

Rezaie, Behnaz; Dincer, Ibrahim; Esmailzadeh, Ebrahim

2013-01-01

Highlights: ► Studying various building energy options. ► Assessing these options from various points. ► Comparing these options for better environment and sustainability. ► Proposing renewable energy options as potential solutions. - Abstract: The building sector, as one of the major energy consumers, demands most of the energy research to assess different energy options from various aspects. In this paper, two similar residential buildings, with either low or high energy consumption patterns, are chosen as case studies. For these case studies, three different renewable energy technology and three different hybrid systems are designed for a specified size. Then, the environmental impact indices, renewable energy indices, and the renewable exergy indices have been estimated for every energy options. Results obtained show that the hybrid systems (without considering the economics factors) are superior and having top indices. The importance of the energy consumption patterns in buildings are proven by the indices. By cutting the energy consumption to about 40% the environment index would increase by more than twice (2.1). Utilization of the non-fossil fuels is one part of the solution to environmental problems while energy conservation being the other. It has been shown that the re-design of the energy consumption model is less complex but more achievable for buildings.

Multiparametric prostate MRI for follow-up monitoring after radiation therapy

International Nuclear Information System (INIS)

Weidner, A.M.; Dinter, D.J.; Bohrer, M.; Sertdemir, M.; Hausmann, D.; Wenz, F.; Schoenberg, S.O.

2012-01-01

Radiation therapy is a therapeutic option with curative intent for patients with prostate cancer. Monitoring of prostate-specific antigen (PSA) values is the current standard of care in the follow-up. Imaging is recommended only for symptomatic patients and/or for further therapeutic options. For detection of local recurrence magnetic resonance imaging (MRI) of the prostate is acknowledged as the method of choice. Good results for primary diagnosis were found especially in combination with functional techniques, whereas in recurrent prostate cancer only few studies with heterogeneous study design are available for prostate MRI. Furthermore, changes in different MRI modalities due to radiation therapy have been insufficiently investigated to date. As the initial results were promising prostate MRI and available therapeutic options for detection of local recurrence should be considered in patients with increased PSA. (orig.) [de

Acquisitions Through a Behavioral and Real Options Lens

NARCIS (Netherlands)

J.C.M. Kil (Joris)

2013-01-01

textabstractThis thesis combines four studies that contribute to our understanding of corporate acquisitions by taking a behavioral and real options perspective. Chapter 2 classifies acquisitions based on real option characteristics and shows option type (single vs. compound) and option nature

Establishment of a Background Environmental Monitoring Station for the PNNL Campus

Energy Technology Data Exchange (ETDEWEB)

Fritz, Brad G. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Snyder, Sandra F. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Barnett, J. Matthew [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Bisping, Lynn E. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Rishel, Jeremy P. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States)

2014-12-01

The environmental surveillance of background levels of radionuclides and, in particular, the siting of a background environmental surveillance (monitoring) station are examined. Many published works identify and stress the need for background monitoring; however, little definitive and comprehensive information for siting a station exists. A definition of an ideal background monitoring location and the generic criteria recommended for use in establishing such a background monitoring location are proposed. There are seven primary (mandatory) criteria described with two additional, optional criteria. The criteria are applied to the Richland, Washington (WA), Pacific Northwest National Laboratory (PNNL) Campus, which currently uses background monitoring data from the nearby Hanford Site. Eleven potential background monitoring sites were identified, with one location in Benton City, WA found to meet all of the mandatory and optional criteria. It is expected that the new sampler will be installed and operating by the end of June, 2015.

Real Options in Capital Budgeting. Pricing the Option to Delay and the Option to Abandon a Project

Directory of Open Access Journals (Sweden)

Nicoleta Vintila

2007-07-01

Full Text Available Traditional discounted cash-flows method for assessing projects assumes that investment decision is an irreversible one, which is not correct. Managers can and must reconsider their initial decision as the new information arises during the project life. This is managerial flexibility and it creates strategic value for a project, only if management takes advantage of the opportunities associated with an analyzed project. Real options represent a new approach in capital budgeting, using the theory of pricing financial options for investments in real assets. In this paper, we emphasize the characteristics and valuation methodologies of real options. The objective in the last section is pricing the option to delay and the option to abandon a project in construction materials field.

Stata 8 Graphics: Options, sub-options and sub-sub-options

OpenAIRE

Tim Collier

2005-01-01

Stata 8 graphics have changed out of all recognition from that available in earlier versions. It was not just that a whole new array of options and sub-options were introduced, but the graph syntax itself completely changed. Just trying to produce a simple plot of x against y using Stata 7 syntax (graph x y) produced bewildering error messages e.g. xgraph_g.new y: class member function not found r(4023) and the like. If you did succeed in working out the new syntax (graph twoway scatter x y) ...

Health facility challenges to the provision of Option B+ in western Kenya: a qualitative study.

Science.gov (United States)

Helova, Anna; Akama, Eliud; Bukusi, Elizabeth A; Musoke, Pamela; Nalwa, Wafula Z; Odeny, Thomas A; Onono, Maricianah; Spangler, Sydney A; Turan, Janet M; Wanga, Iris; Abuogi, Lisa L

2017-03-01

Current WHO guidelines recommend lifelong antiretroviral therapy (ART) for all HIV-positive individuals, including pregnant and breastfeeding women (Option B+) in settings with generalized HIV epidemics. While Option B+ is scaled-up in Kenya, insufficient adherence and retention to care could undermine the expected positive impact of Option B+. To explore challenges to the provision of Option B+ at the health facility level, we conducted forty individual gender-matched in-depth interviews with HIV-positive pregnant/postpartum women and their male partners, and four focus groups with thirty health care providers at four health facilities in western Kenya between September-November 2014. Transcripts were coded with the Dedoose software using a coding framework based on the literature, topics from interview guides, and emerging themes from transcripts. Excerpts from broad codes were then fine-coded using an inductive approach. Three major themes emerged: 1) Option B+ specific challenges (same-day initiation into treatment, health care providers unconvinced of the benefits of Option B+, insufficient training); 2) facility resource constraints (staff and drug shortages, long queues, space limitations); and 3) lack of client-friendly services (scolding of patients, inconvenient operating hours, lack of integration of services, administrative requirements). This study highlights important challenges at the health facility level related to Option B+ rollout in western Kenya. Addressing these specific challenges may increase linkage, retention and adherence to life-long ART treatment for pregnant HIV-positive women in Kenya, contribute towards elimination of mother-to-child HIV transmission, and improve maternal and child outcomes.

Tank Space Options Report

International Nuclear Information System (INIS)

BOYLES, V.C.

2001-01-01

A risk-based priority for the retrieval of Hanford Site waste from the 149 single-shell tanks (SSTs) has been adopted as a result of changes to the Hanford Federal Facility Agreement and Consent Order (HFFACO) (Ecology et al. 1997) negotiated in 2000. Retrieval of the first three tanks in the retrieval sequence fills available capacity in the double-shell tanks (DSTs) by 2007. As a result, the HFFACO change established a milestone (M-45-12-TO1) requiring the determination of options that could increase waste storage capacity for single-shell tank waste retrieval. The information will be considered in future negotiations. This document fulfills the milestone requirement. This study presents options that were reviewed for the purpose of increasing waste storage capacity. Eight options are identified that have the potential for increasing capacity from 5 to 10 million gallons, thus allowing uninterrupted single-shell tank retrieval until the planned Waste Treatment Plant begins processing substantial volumes of waste from the double-shell tanks in 2009. The cost of implementing these options is estimated to range from less than $1 per gallon to more than $14 per gallon. Construction of new double-shell tanks is estimated to cost about $63 per gallon. Providing 5 to 10 million gallons of available double-shell tank space could enable early retrieval of 5 to 9 high-risk single-shell tanks beyond those identified for retrieval by 2007. These tanks are A-101, AX-101, AX-103, BY-102, C-107, S-105, S-106, S-108, and S-109 (Garfield et al. 2000). This represents a potential to retrieve approximately 14 million total curies, including 3,200 curies of long-lived mobile radionuclides. The results of the study reflect qualitative analyses conducted to identify promising options. The estimated costs are rough-order-of magnitude and, therefore, subject to change. Implementing some of the options would represent a departure from the current baseline and may adversely impact the

Evaluating Space Weather Architecture Options to Support Human Deep Space Exploration of the Moon and Mars

Science.gov (United States)

Parker, L.; Minow, J.; Pulkkinen, A.; Fry, D.; Semones, E.; Allen, J.; St Cyr, C.; Mertens, C.; Jun, I.; Onsager, T.; Hock, R.

2018-02-01

NASA's Engineering and Space Center (NESC) is conducting an independent technical assessment of space environment monitoring and forecasting architecture options to support human and robotic deep space exploration.

ART attrition and risk factors among Option B+ patients in Haiti: A retrospective cohort study.

Directory of Open Access Journals (Sweden)

Nancy Puttkammer

Full Text Available In October 2012, the Haitian Ministry of Health endorsed the "Option B+" strategy to eliminate mother-to-child transmission of HIV and achieve HIV epidemic control. The objective of this paper is to assess and identify risk factors for attrition from the national ART program among Option B+ patients in the 12 months after ART initiation.This retrospective cohort study included patients newly initiating ART from October 2012-August 2013 at 68 ART sites covering 45% of all newly enrolled ART patients in all regions of Haiti.With data from electronic medical records, we carried out descriptive analysis of sociodemographic, clinical, and pregnancy-related correlates of ART attrition, and used a modified Poisson regression approach to estimate relative risks in a multivariable model.There were 2,166 Option B+ patients who initiated ART, of whom 1,023 were not retained by 12 months (47.2%. One quarter (25.3% dropped out within 3 months of ART initiation. Protective factors included older age, more advanced HIV disease progression, and any adherence counseling prior to ART initiation, while risk factors included starting ART late in gestation, starting ART within 7 days of HIV testing, and using an atypical ART regimen.Our study demonstrates early ART attrition among Option B+ patients and contributes evidence on the characteristics of women who are most at risk of attrition in Haiti. Our findings highlight the importance of targeted strategies to support retention among Option B+ patients.

Safety-related topics from the Nuclear Power Options Viability Study

International Nuclear Information System (INIS)

Trauger, D.B.; White, J.D.

1986-01-01

The Nuclear Power Options Viability Study (NPOVS) evaluated innovative reactor concepts, and this article reviews NPOVS findings, with emphasis on safety and licensing. The reactors studied were of light-water, liquid-metal, and helium-cooled concepts, and most were of modular design. Prelicensed standard plants offer an important step toward regulatory stability and early licensing approvals with public participation before major expenditures. Advanced reactors with passive safety features offer the possibility of performance-based regulation. The concepts studied appear to be potentially viable, but more complete designs will be required before economic evaluations can be definitive

The design of radiation monitor passageway system

International Nuclear Information System (INIS)

Chu Chengsheng

2006-10-01

The Radiation Monitor Passageway System is designed as four modules, the radiation detection modules, the control modules, the mechanism modules and the optional modules. this system integrate the radiation detection technology and door ban control technology. It is a effective radiation monitor equipment with high detect sensitiveness, it will be hopeful devoted to national nuclear safeguard. (authors)

Surgery versus Active Monitoring in Intermittent Exotropia (SamExo: study protocol for a pilot randomised controlled trial

Directory of Open Access Journals (Sweden)

Buck Deborah

2012-10-01

Full Text Available Abstract Background Childhood intermittent exotropia [X(T] is a type of strabismus (squint in which one eye deviates outward at times, usually when the child is tired. It may progress to a permanent squint, loss of stereovision and/or amblyopia (reduced vision. Treatment options for X(T include eye patches, glasses, surgery and active monitoring. There is no consensus regarding how this condition should be managed, and even when surgery is the preferred option clinicians disagree as to the optimal timing. Reports on the natural history of X(T are limited, and there is no randomised controlled trial (RCT evidence on the effectiveness or efficiency of surgery compared with active monitoring. The SamExo (Surgery versus Active Monitoring in Intermittent Exotropia pilot study has been designed to test the feasibility of such a trial in the UK. Methods Design: an external pilot patient randomised controlled trial. Setting: four UK secondary ophthalmology care facilities at Newcastle NHS Hospitals Foundation Trust, Sunderland Eye Infirmary, Moorfields Eye Hospital and York NHS Trust. Participants: children aged between 6 months and 16 years referred with suspected and subsequently diagnosed X(T. Recruitment target is a total of 144 children over a 9-month period, with 120 retained by 9-month outcome visit. Randomisation: permuted blocks stratified by collaborating centre, age and severity of X(T. Interventions: initial clinical assessment; randomisation (eye muscle surgery or active monitoring; 3-, 6- and 9-month (primary outcome clinical assessments; participant/proxy completed questionnaire covering time and travel costs, health services use and quality of life (Intermittent Exotropia Questionnaire; qualitative interviews with parents to establish reasons for agreeing or declining participation in the pilot trial. Outcomes: recruitment and retention rates; nature and extent of participation bias; nature and extent of biases arising from crossover or

Equity Portfolio Management Using Option Price Information

DEFF Research Database (Denmark)

Christoffersen, Peter; Pan, Xuhui (Nick)

We survey the recent academic literature that uses option-implied information to construct equity portfolios. Studies show that equity managers can earn a positive alpha by using information in individual equity options, by using stocks' exposure to information in market index options, and by usi...

Pawnee Nation Energy Option Analyses

Energy Technology Data Exchange (ETDEWEB)

Matlock, M.; Kersey, K.; Riding In, C.

2009-07-31

introduced two model energy codes Pawnee Nation should consider for adoption. Summary of Current and Expected Future Electricity Usage The research team provided a summary overview of electricity usage patterns in current buildings and included discussion of known plans for new construction. Utility Options Review Pawnee Nation electric utility options were analyzed through a four-phase process, which included: 1) summarizing the relevant utility background information; 2) gathering relevant utility assessment data; 3) developing a set of realistic Pawnee electric utility service options, and 4) analyzing the various Pawnee electric utility service options for the Pawnee Energy Team’s consideration. III. Findings and Recommendations Due to a lack of financial incentives for renewable energy, particularly at the state level, combined mediocre renewable energy resources, renewable energy development opportunities are limited for Pawnee Nation. However, near-term potential exists for development of solar hot water at the gym, and an exterior wood-fired boiler system at the tribe’s main administrative building. Pawnee Nation should also explore options for developing LFGTE resources in collaboration with the City of Pawnee. Significant potential may also exist for development of bio-energy resources within the next decade. Pawnee Nation representatives should closely monitor market developments in the bio-energy industry, establish contacts with research institutions with which the tribe could potentially partner in grant-funded research initiatives. In addition, a substantial effort by the Kaw and Cherokee tribes is underway to pursue wind development at the Chilocco School Site in northern Oklahoma where Pawnee is a joint landowner. Pawnee Nation representatives should become actively involved in these development discussions and should explore the potential for joint investment in wind development at the Chilocco site.

Cross-sectoral assessment of mitigation options

DEFF Research Database (Denmark)

Halsnæs, K.

1997-01-01

similarly been assessed in the country study for Zimbabwe, The options include in particular efficiency improvements in industrial plants and in the energy sector, A new methodological issue in the country study for Zimbabwe is the comparable assessment of greenhouse gas reductions options for multiple...... emission sources and gases. The paper reports the result of the integrated assessment of CO2 and CH4 reduction options for energy, agriculture, forestry and waste management for Zimbabwe, This leads up to a final discussion on methodological issues involved in cross-sectoral mitigation assessment. (C) 1997...

Novel treatment options in depression and psychosis

Directory of Open Access Journals (Sweden)

Ceskova E

2018-03-01

Full Text Available Eva Ceskova, Petr Silhan Department of Psychiatry, University Hospital Ostrava, Ostrava, Czech Republic Abstract: In spite of tremendous development in central nervous system research, current treatment is suboptimal, especially in severe mental disorders. In medicine, there are two main methods of improving the health care provided: seeking new treatment procedures and perfecting (optimizing the existing ones. Optimization of treatment includes not only practical tools such as therapeutic drug monitoring but also implementation of general trends in the clinical practice. New pharmacological options include new more sophisticated forms of monoaminergic drugs, old drugs rediscovered on the base of a better understanding of pathophysiology of mental illnesses, and drugs aimed at new treatment targets. In depression, treatment resistance to antidepressive pharmacotherapy represents one of the most important clinical challenges. Switching to monotherapy with new multimodal/multifunctional antidepressants and augmentation with new atypical antipsychotics (aripiprazole and brexpiprazole may be promising options. Further, current evidence supports utility and safety of adjunctive treatment of nutraceuticals. Novel approaches being studied include ketamine and opioids. Recent advances in technology and emerging knowledge about dysfunctional brain circuits and neuroplasticity have led to the development of different new neuromodulation techniques usually used as add-on therapy. Antipsychotics are still the cornerstone of the current treatment of schizophrenia. Two new partial dopamine agonists, brexpiprazole and cariprazine, are now available in addition to aripiprazole. Although the mechanisms of action are similar, the two agents differ in terms of their pharmacodynamic profiles. Further, two new formulations of long-acting injections of second-generation antipsychotics (aripiprazole lauroxil and 3-month paliperidone palmitate were introduced into

OPTION(5) versus OPTION(12) instruments to appreciate the extent to which healthcare providers involve patients in decision-making.

Science.gov (United States)

Stubenrouch, Fabienne E; Pieterse, Arwen H; Falkenberg, Rijan; Santema, T Katrien B; Stiggelbout, Anne M; van der Weijden, Trudy; Aarts, J Annemijn W M; Ubbink, Dirk T

2016-06-01

The 12-item "observing patient involvement" (OPTION(12))-instrument is commonly used to assess the extent to which healthcare providers involve patients in health-related decision-making. The five-item version (OPTION(5)) claims to be a more efficient measure. In this study we compared the Dutch versions of the OPTION-instruments in terms of inter-rater agreement and correlation in outpatient doctor-patient consultations in various settings, to learn if we can safely switch to the shorter OPTION(5)-instrument. Two raters coded 60 audiotaped vascular surgery and oncology patient consultations using OPTION(12) and OPTION(5). Unweighted Cohen's kappa was used to compute inter-rater agreement on item-level. The association between the total scores of the two OPTION-instruments was investigated using Pearson's correlation coefficient (r) and a Bland & Altman plot. After fine-tuning the OPTION-manuals, inter-rater agreement for OPTION(12) and OPTION(5) was good to excellent (kappa range 0.69-0.85 and 0.63-0.72, respectively). Mean total scores were 23.7 (OPTION(12); SD=7.8) and 39.3 (OPTION(5); SD=12.7). Correlation between the total scores was high (r=0.71; p=0.01). OPTION(5) scored systematically higher with a wider range than OPTION(12). Both OPTION-instruments had a good inter-rater agreement and correlated well. OPTION(5) seems to differentiate better between various levels of patient involvement. The OPTION(5)-instrument is recommended for clinical application. Copyright © 2015 Elsevier Ireland Ltd. All rights reserved.

Options for the management of Chernobyl-restricted areas in England and Wales

International Nuclear Information System (INIS)

Nisbet, A.; Woodman, R.

1999-01-01

Areas in England and Wales are still subject to restrictions on tile movement, sale and slaughter of sheep because concentrations of radiocaesium in sheep meat may exceed the 1000 Bq kg -1 limit imposed after the Chernobyl nuclear power plant accident. Various monitoring programmes have been implemented to enable lamb production to be sustained in these restricted areas, although no alternative management strategies have been considered to date. Current management practices have been reviewed and costed. An assessment has also been undertaken to establish the practicability and cost effectiveness of five alternative management options. The practicability of each option, which encompasses technical feasibility, capacity, cost, impact and acceptability, was assessed through a series of case studies carried out on farms in the restricted area of north Wales, and through consultation with a range of organisations with interests in farming and/or the environment. Recommendations are made for the future management of the restricted areas in England and Wales. (author)

Rehabilitation Options

Science.gov (United States)

... Speech Pathology Occupational Therapy Art Therapy Recreational therapy Neuropsychology Home Care Options Advanced Care Planning Palliative Care ... Speech Pathology Occupational Therapy Art Therapy Recreational therapy Neuropsychology Home Care Options Advanced Care Planning Palliative Care ...

A feasibility study on nuclear power options in Mongolia

International Nuclear Information System (INIS)

Minato, A.; Sekimoto, H.; Amartaivan, T.

2010-10-01

There is a growing interest among utilities in the United States in small and medium reactors due primarily to the smaller investment and perhaps shorter construction time involved as compared to those large reactors. The potential market for small reactors (those below 300 M We) exists, specially with sizes of 50 and 100 M We. A feasibility study was conducted on nuclear power options for Ulaanbaatar, Mongolia, a country which has a potential market for small reactors. The study was focused on an optimization of a combination of coal-fired and nuclear power plants taking into account Mongolia's future nuclear program plan, future population and economic growth, and the increased electricity and district heating demands. (Author)

5 CFR 870.705 - Amount and election of Option B and Option C.

Science.gov (United States)

2010-01-01

... 5 Administrative Personnel 2 2010-01-01 2010-01-01 false Amount and election of Option B and Option C. 870.705 Section 870.705 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT (CONTINUED... Compensationers § 870.705 Amount and election of Option B and Option C. (a) The number of multiples of Option B...

Pricing and Applications of Digital Installment Options

Directory of Open Access Journals (Sweden)

Pierangelo Ciurlia

2012-01-01

Full Text Available For its theoretical interest and strong impact on financial markets, option valuation is considered one of the cornerstones of contemporary mathematical finance. This paper specifically studies the valuation of exotic options with digital payoff and flexible payment plan. By means of the Incomplete Fourier Transform, the pricing problem is solved in order to find integral representations of the upfront price for European call and put options. Several applications in the areas of corporate finance, insurance, and real options are discussed. Finally, a new type of digital derivative named supercash option is introduced and some payment schemes are also presented.

Short-Term Market Risks Implied by Weekly Options

DEFF Research Database (Denmark)

Andersen, Torben Gustav; Fusari, Nicola; Todorov, Viktor

a direct way to study volatility and jump risks. Unlike longer-dated options, they are largely insensitive to the risk of intertemporal shifts in the economic environment. Adopting a novel semi-nonparametric approach, we uncover variation in the negative jump tail risk which is not spanned by market......We study short-term market risks implied by weekly S&P 500 index options. The introduction of weekly options has dramatically shifted the maturity profile of traded options over the last five years, with a substantial proportion now having expiry within one week. Such short-dated options provide......" by the level of market volatility and elude standard asset pricing models....

Observing Optional Number in DDC Edition 23

Directory of Open Access Journals (Sweden)

Rotmianto Mohamad

2018-01-01

Full Text Available Dewey Decimal Classification is a most popular classification system in the world because of its completeness and most up-to-date. There are many optional number in this classification system, although it rarely to be discussed even it is important to known well about that optional number, especially for a librarian as classifier. This paper is a literature study about Dewey Decimal Classification Edition 23, to describe about optional numbers, particularly the number in relationship with Indonesia’s subject and discipline. This paper is to avoid misunderstanding in interpreted about optional number among librarians, especially for who that does not understand well about optional numbers.

Forest degradation sub-national assessments: Monitoring options for Cambodia, Lao PDR, and Vietnam

Science.gov (United States)

Rick Turner; James Halperin; Patricia Manley; Leif Mortenson

2013-01-01

Techniques for monitoring deforestation and associated changes to forest carbon stocks are widespread and well published. In contrast, techniques for monitoring forest degradation are relatively untested in developing countries despite their inclusion in UNFCCC REDD+ negotiations. The Lowering Emissions in Asia's Forests (LEAF) program of the United States Agency...

Optional thinking ability among hospital-treated deliberate self-harm patients: a 1-year follow-up study.

Science.gov (United States)

McAuliffe, Carmel; Corcoran, Paul; Hickey, Portia; McLeavey, Breda C

2008-03-01

To investigate the association between optional thinking (the ability to generate alternative solutions to interpersonal problems) in deliberate self-harm (DSH) patients and repeated self-harm. A prospective study of the association between optional thinking in interpersonal problem solving and repeated DSH within 12 months. A non-consecutive sample (N=152) of DSH patients presenting to the Accident and Emergency department of an acute hospital in Cork city, Ireland, was assessed using a structured interview schedule including the Suicide Intent Scale, the Hopelessness Scale, and the Optional Thinking Test. Repetition within 1 year was established by checking Accident and Emergency records at all three city hospitals. Participants were categorized as repeaters if they engaged in at least one further hospital-treated DSH episode, or non-repeaters. Approximately two-thirds (63.1%) of the sample had engaged in at least one act of DSH prior to their index episode. During follow-up 31 individuals (20.4%) repeated. History of self-harm was significantly associated with prospective repetition when considered alongside all the other predictor variables. Among first evers, low scores on the optional thinking test were significantly associated with the increased risk of repetition within 12 months. Among those with previous DSH, there was no evidence of an association between optional thinking and repetition within 12 months. Poor optional thinking is associated with increased risk of repeated deliberate self-harm in those who present with a first self-harm episode. Interventions to improve optional thinking skills, delivered soon after a first DSH presentation, may be useful in preventing repetition.

Dual vs. single computer monitor in a Canadian hospital Archiving Department: a study of efficiency and satisfaction.

Science.gov (United States)

Poder, Thomas G; Godbout, Sylvie T; Bellemare, Christian

This paper describes a comparative study of clinical coding by Archivists (also known as Clinical Coders in some other countries) using single and dual computer monitors. In the present context, processing a record corresponds to checking the available information; searching for the missing physician information; and finally, performing clinical coding. We collected data for each Archivist during her use of the single monitor for 40 hours and during her use of the dual monitor for 20 hours. During the experimental periods, Archivists did not perform other related duties, so we were able to measure the real-time processing of records. To control for the type of records and their impact on the process time required, we categorised the cases as major or minor, based on whether acute care or day surgery was involved. Overall results show that 1,234 records were processed using a single monitor and 647 records using a dual monitor. The time required to process a record was significantly higher (p= .071) with a single monitor compared to a dual monitor (19.83 vs.18.73 minutes). However, the percentage of major cases was significantly higher (p= .000) in the single monitor group compared to the dual monitor group (78% vs. 69%). As a consequence, we adjusted our results, which reduced the difference in time required to process a record between the two systems from 1.1 to 0.61 minutes. Thus, the net real-time difference was only 37 seconds in favour of the dual monitor system. Extrapolated over a 5-year period, this would represent a time savings of 3.1% and generate a net cost savings of $7,729 CAD (Canadian dollars) for each workstation that devoted 35 hours per week to the processing of records. Finally, satisfaction questionnaire responses indicated a high level of satisfaction and support for the dual-monitor system. The implementation of a dual-monitor system in a hospital archiving department is an efficient option in the context of scarce human resources and has the

Numerical Algorithm for Delta of Asian Option

Directory of Open Access Journals (Sweden)

Boxiang Zhang

2015-01-01

Full Text Available We study the numerical solution of the Greeks of Asian options. In particular, we derive a close form solution of Δ of Asian geometric option and use this analytical form as a control to numerically calculate Δ of Asian arithmetic option, which is known to have no explicit close form solution. We implement our proposed numerical method and compare the standard error with other classical variance reduction methods. Our method provides an efficient solution to the hedging strategy with Asian options.

The option to expand a project: its assessment with the binomial options pricing model

Directory of Open Access Journals (Sweden)

Salvador Cruz Rambaud

Full Text Available Traditional methods of investment appraisal, like the Net Present Value, are not able to include the value of the operational flexibility of the project. In this paper, real options, and more specifically the option to expand, are assumed to be included in the project information in addition to the expected cash flows. Thus, to calculate the total value of the project, we are going to apply the methodology of the Net Present Value to the different scenarios derived from the existence of the real option to expand. Taking into account the analogy between real and financial options, the value of including an option to expand is explored by using the binomial options pricing model. In this way, estimating the value of the option to expand is a tool which facilitates the control of the uncertainty element implicit in the project. Keywords: Real options, Option to expand, Binomial options pricing model, Investment project appraisal

Traffic Light Options

DEFF Research Database (Denmark)

Jørgensen, Peter Løchte

This paper introduces, prices, and analyzes traffic light options. The traffic light option is an innovative structured OTC derivative developed independently by several London-based investment banks to suit the needs of Danish life and pension (L&P) companies, which must comply with the traffic...... 2006, and supervisory authorities in many other European countries have implemented similar regulation. Traffic light options are therefore likely to attract the attention of a wider audience of pension fund managers in the future. Focusing on the valuation of the traffic light option we set up a Black...... light scenarios. These stress scenarios entail drops in interest rates as well as in stock prices, and traffic light options are thus designed to pay off and preserve sufficient capital when interest rates and stock prices fall simultaneously. Sweden's FSA implemented a traffic light system in January...

Traffic Light Options

DEFF Research Database (Denmark)

Jørgensen, Peter Løchte

2007-01-01

This paper introduces, prices, and analyzes traffic light options. The traffic light option is an innovative structured OTC derivative developed independently by several London-based investment banks to suit the needs of Danish life and pension (L&P) companies, which must comply with the traffic...... 2006, and supervisory authorities in many other European countries have implemented similar regulation. Traffic light options are therefore likely to attract the attention of a wider audience of pension fund managers in the future. Focusing on the valuation of the traffic light option we set up a Black...... light scenarios. These stress scenarios entail drops in interest rates as well as in stock prices, and traffic light options are thus designed to pay off and preserve sufficient capital when interest rates and stock prices fall simultaneously. Sweden's FSA implemented a traffic light system in January...

The origins of options.

Science.gov (United States)

Smaldino, Paul E; Richerson, Peter J

2012-01-01

Most research on decision making has focused on how human or animal decision makers choose between two or more options, posed in advance by the researchers. The mechanisms by which options are generated for most decisions, however, are not well understood. Models of sequential search have examined the trade-off between continued exploration and choosing one's current best option, but still cannot explain the processes by which new options are generated. We argue that understanding the origins of options is a crucial but untapped area for decision making research. We explore a number of factors which influence the generation of options, which fall broadly into two categories: psycho-biological and socio-cultural. The former category includes factors such as perceptual biases and associative memory networks. The latter category relies on the incredible human capacity for culture and social learning, which doubtless shape not only our choices but the options available for choice. Our intention is to start a discussion that brings us closer toward understanding the origins of options.

A Laboratory Experimental Study: An FBG-PVC Tube Integrated Device for Monitoring the Slip Surface of Landslides

Science.gov (United States)

Zhang, Shaojie; Chen, Jiang; Teng, Pengxiao; Wei, Fangqiang; Chen, Qiao

2017-01-01

A new detection device was designed by integrating fiber Bragg grating (FBG) and polyvinyl chloride (PVC) tube in order to monitor the slip surface of a landslide. Using this new FBG-based device, a corresponding slope model with a pre-set slip surface was designed, and seven tests with different soil properties were carried out in laboratory conditions. The FBG sensing fibers were fixed on the PVC tube to measure strain distributions of PVC tube at different elevation. Test results indicated that the PVC tube could keep deformation compatible with soil mass. The new device was able to monitor slip surface location before sliding occurrence, and the location of monitored slip surface was about 1–2 cm above the pre-set slip surface, which basically agreed with presupposition results. The monitoring results are expected to be used to pre-estimate landslide volume and provide a beneficial option for evaluating the potential impact of landslides on shipping safety in the Three Gorges area. PMID:29084157

30 CFR 90.3 - Part 90 option; notice of eligibility; exercise of option.

Science.gov (United States)

2010-07-01

... 30 Mineral Resources 1 2010-07-01 2010-07-01 false Part 90 option; notice of eligibility; exercise of option. 90.3 Section 90.3 Mineral Resources MINE SAFETY AND HEALTH ADMINISTRATION, DEPARTMENT OF... DEVELOPMENT OF PNEUMOCONIOSIS General § 90.3 Part 90 option; notice of eligibility; exercise of option. (a...

The implied volatility of index options: the evidence of options on the Australian SPI 200 index futures

OpenAIRE

Tanha, Hassan

2017-01-01

This thesis is a study of the implied volatility component of the Black and Scholes option-pricing model. A recurring finding in the thesis is that in-the-money and out-of ¬the-money options should not be regarded as being on a continuum, but rather as being inherently "different." Additionally, differences across these options are accounted for in relation to behavioural and consumption based models, which, in turn, provide an explanation for the volatility smile. These findings provide a re...

Cyanobacteria, Toxins and Indicators: Field Monitoring,Treatment Facility Monitoring and Treatment Studies

Science.gov (United States)

This presentation is a compilation of harmful algal bloom (HAB) related field monitoring data from the 2015 bloom season, treatment plant monitoring data from the 2013 and 2014 bloom seasons, and bench-scale treatment study data from 2015.

Ground-Water Protection and Monitoring Program

Energy Technology Data Exchange (ETDEWEB)

Dresel, P.E.

1995-06-01

This section of the 1994 Hanford Site Environmental Report summarizes the ground-water protection and monitoring program strategy for the Hanford Site in 1994. Two of the key elements of this strategy are to (1) protect the unconfined aquifer from further contamination, and (2) conduct a monitoring program to provide early warning when contamination of ground water does occur. The monitoring program at Hanford is designed to document the distribution and movement of existing ground-water contamination and provides a historical baseline for evaluating current and future risk from exposure to the contamination and for deciding on remedial action options.

Ground-Water Protection and Monitoring Program

International Nuclear Information System (INIS)

Dresel, P.E.

1995-01-01

This section of the 1994 Hanford Site Environmental Report summarizes the ground-water protection and monitoring program strategy for the Hanford Site in 1994. Two of the key elements of this strategy are to (1) protect the unconfined aquifer from further contamination, and (2) conduct a monitoring program to provide early warning when contamination of ground water does occur. The monitoring program at Hanford is designed to document the distribution and movement of existing ground-water contamination and provides a historical baseline for evaluating current and future risk from exposure to the contamination and for deciding on remedial action options

Option generation in decision making: ideation beyond memory retrieval.

Science.gov (United States)

Del Missier, Fabio; Visentini, Mimì; Mäntylä, Timo

2014-01-01

According to prescriptive decision theories, the generation of options for choice is a central aspect of decision making. A too narrow representation of the problem may indeed limit the opportunity to evaluate promising options. However, despite the theoretical and applied significance of this topic, the cognitive processes underlying option generation are still unclear. In particular, while a cued recall account of option generation emphasizes the role of memory and executive control, other theoretical proposals stress the importance of ideation processes based on various search and thinking processes. Unfortunately, relevant behavioral evidence on the cognitive processes underlying option generation is scattered and inconclusive. In order to reach a better understanding, we carried out an individual-differences study employing a wide array of cognitive predictors, including measures of episodic memory, semantic memory, cognitive control, and ideation fluency. The criterion tasks consisted of three different poorly-structured decision-making scenarios, and the participants were asked to generate options to solve these problems. The main criterion variable of the study was the number of valid options generated, but also the diversity and the quality of generated options were examined. The results showed that option generation fluency and diversity in the context of ill-structured decision making are supported by ideation ability even after taking into account the effects of individual differences in several other aspects of cognitive functioning. Thus, ideation processes, possibly supported by search and thinking processes, seem to contribute to option generation beyond basic associative memory retrieval. The findings of the study also indicate that generating more options may have multifaceted consequences for choice, increasing the quality of the best option generated but decreasing the mean quality of the options in the generated set.

Option generation in decision making: Ideation beyond memory retrieval

Directory of Open Access Journals (Sweden)

Fabio eDel Missier

2015-01-01

Full Text Available According to prescriptive decision theories, the generation of options for choice is a central aspect of decision making. A too narrow representation of the problem may indeed limit the opportunity to evaluate promising options. However, despite the theoretical and applied significance of this topic, the cognitive processes underlying option generation are still unclear. In particular, while a cued recall account of option generation emphasizes the role of memory and executive control, other theoretical proposals stress the importance of ideation processes based on various search and thinking processes. Unfortunately, relevant behavioral evidence on the cognitive processes underlying option generation is scattered and inconclusive. In order to reach a better understanding, we carried out an individual-differences study employing a wide array of cognitive predictors, including measures of episodic memory, semantic memory, cognitive control, and ideation fluency. The criterion tasks consisted of three different poorly-structured decision-making scenarios, and the participants were asked to generate options to solve these problems. The main criterion variable of the study was the number of valid options generated, but also the diversity and the quality of generated options were examined. The results showed that option generation fluency and diversity in the context of ill-structured decision making are supported by ideation ability even after taking into account the effects of individual differences in several other aspects of cognitive functioning. Thus, ideation processes, possibly supported by search and thinking processes, seem to contribute to option generation beyond basic associative memory retrieval. The findings of the study also indicate that generating more options may have multifaceted consequences for choice, increasing the quality of the best option generated but decreasing the mean quality of the options in the generated set.

System of message for gamma-radiation monitor

International Nuclear Information System (INIS)

Bolic, M.D.; Koturovic, A.M.

2001-01-01

Paper describes a system of voice messages for gamma-radiation monitor based on PC. The systems reproduces recorded messages that is simpler than the process of their synthesis. Message choice is based on combination of recorded digital results and/or received reference messages or warnings. The system of generation of voice messages applies the Windows based software. The total memory array required to create independent voice system is maximum 1.7 mbyte. The monitor may be used for continuous monitoring of radioactivity level with 5-8 s period of message repetition. Another option of the system operation is based on monitor application for the environment monitoring. Period of messages in this case is equal to 5-30 min [ru

Remote mood monitoring for adults with bipolar disorder: An explorative study of compliance and impact on mental health service use and costs.

Science.gov (United States)

Simon, J; Budge, K; Price, J; Goodwin, G M; Geddes, J R

2017-09-01

Remote monitoring of mood disorders may be an effective and low resource option for patient follow-up, but relevant evidence remains very limited. This study explores real-life compliance and health services impacts of mood monitoring among patients with bipolar disorder in the UK. Patients with a diagnosis of bipolar disorder who were registered users of the True Colours monitoring system for at least 12months at study assessment were included in this retrospective cohort study (n=79). Compliance was measured as the proportion of valid depression and mania scale messages received in comparison to their expected numbers over the first 12months of monitoring. Mental health service use data were extracted from case notes, costed using national unit costs, and compared 12months before (pre-TC period) and 12months after (TC period) patients' engagement with monitoring. Associations with relevant patient factors were investigated in a multiple regression model. Average compliance with monitoring was 82%. Significant increases in the annual use and costs of psychiatrist contacts and total mental health services were shown for patients newly referred to the clinic during the pre-TC period but not for long-term patients of the clinic. Psychiatric medication costs increased significantly between the pre-TC and TC periods (£235, P=0.005) unrelated to patients' referral status. Remote mood monitoring has good compliance among consenting patients with bipolar disorder. We found no associations between observed changes in mental health service costs and the introduction of monitoring except for the increase in psychiatric medication costs. Copyright © 2017 The Authors. Published by Elsevier Masson SAS.. All rights reserved.

Monitoring Detrusor Oxygenation and Hemodynamics Noninvasively during Dysfunctional Voiding

Science.gov (United States)

Macnab, Andrew J.; Stothers, Lynn S.; Shadgan, Babak

2012-01-01

The current literature indicates that lower urinary tract symptoms (LUTSs) related to benign prostatic hyperplasia (BPH) have a heterogeneous pathophysiology. Pressure flow studies (UDSs) remain the gold standard evaluation methodology for such patients. However, as the function of the detrusor muscle depends on its vasculature and perfusion, the underlying causes of LUTS likely include abnormalities of detrusor oxygenation and hemodynamics, and available treatment options include agents thought to act on the detrusor smooth muscle and/or vasculature. Hence, near infrared spectroscopy (NIRS), an established optical methodology for monitoring changes in tissue oxygenation and hemodynamics, has relevance as a means of expanding knowledge related to the pathophysiology of BPH and potential treatment options. This methodological report describes how to conduct simultaneous NIRS monitoring of detrusor oxygenation and hemodynamics during UDS, outlines the clinical implications and practical applications of NIRS, explains the principles of physiologic interpretation of NIRS voiding data, and proposes an exploratory hypothesis that the pathophysiological causes underlying LUTS include detrusor dysfunction due to an abnormal hemodynamic response or the onset of oxygen debt during voiding. PMID:23019422

Monitoring Detrusor Oxygenation and Hemodynamics Noninvasively during Dysfunctional Voiding

Directory of Open Access Journals (Sweden)

Andrew J. Macnab

2012-01-01

Full Text Available The current literature indicates that lower urinary tract symptoms (LUTSs related to benign prostatic hyperplasia (BPH have a heterogeneous pathophysiology. Pressure flow studies (UDSs remain the gold standard evaluation methodology for such patients. However, as the function of the detrusor muscle depends on its vasculature and perfusion, the underlying causes of LUTS likely include abnormalities of detrusor oxygenation and hemodynamics, and available treatment options include agents thought to act on the detrusor smooth muscle and/or vasculature. Hence, near infrared spectroscopy (NIRS, an established optical methodology for monitoring changes in tissue oxygenation and hemodynamics, has relevance as a means of expanding knowledge related to the pathophysiology of BPH and potential treatment options. This methodological report describes how to conduct simultaneous NIRS monitoring of detrusor oxygenation and hemodynamics during UDS, outlines the clinical implications and practical applications of NIRS, explains the principles of physiologic interpretation of NIRS voiding data, and proposes an exploratory hypothesis that the pathophysiological causes underlying LUTS include detrusor dysfunction due to an abnormal hemodynamic response or the onset of oxygen debt during voiding.

Public opinion on water reuse options

International Nuclear Information System (INIS)

Bruvold, W.H.

1988-01-01

Public policy on waste water reuse options must be informed by public opinion because it is the public who must pay the cost of developing the option and who will be served by the option in the future. For public policy on reuse, guidance for innovative reuse is not as simple as first believed. It seems that public opinion regarding actual community reuse options is affected by the linkage of several factors, including water conservation, health protection, treatment and distribution costs, and environmental enhancement. Probability sampling was used in 7 studies to select respondents who were queried regarding their opinions on various reclaimed water uses such as ranging from cooling tower water to full domestic use. These 7 are briefly reviewed

Treatment Options for Retinoblastoma

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other places in the body. Treatment Option Overview Key Points There are different types of ...

Polish Toxic Currency Options

Directory of Open Access Journals (Sweden)

Waldemar Gontarski

2009-06-01

Full Text Available Toxic currency options are defined on the basis of the opposition to the nature (essence of an option contract, which is justified in terms of norms founded on the general law clause of characteristics (nature of a relation (which represents an independent premise for imposing restrictions on the freedom of contracts. So-understood toxic currency options are unlawful. Indeed they contravene iuris cogentis regulations. These include for instance option contracts, which are concluded with a bank, if the bank has not informed about option risk before concluding the contract; or the barrier options, which focus only on the protection of bank’s interests. Therefore, such options may appear to be invalid. Therefore, performing contracts for toxic currency options may be qualified as a criminal mismanagement. For the sake of security, the manager should then take into consideration filing a claim for stating invalidity (which can be made in a court verdict. At the same time, if the supervisory board member in a commercial company, who can also be a subject to mismanagement offences, commits an omission involving lack of reaction (for example, if he/she fails to notify of the suspected offence committed by the management board members acting to the company’s detriment when the management board makes the company conclude option contracts which are charged with absolute invalidity the supervisory board member so acting may be considered to act to the company’s detriment. In the most recent Polish jurisprudence and judicature the standard of a “good host” is treated to be the last resort for determining whether the manager’s powers resulting from criminal regulations were performed. The manager of the exporter should not, as a rule, issue any options. Issuing options always means assuming an obligation. In the case of currency put options it is an absolute obligation to purchase a given amount in euro at exchange rate set in advance. On the

Study on Alternative Cargo Launch Options from the Lunar Surface

Energy Technology Data Exchange (ETDEWEB)

Cheryl A. Blomberg; Zamir A. Zulkefli; Spencer W. Rich; Steven D. Howe

2013-07-01

In the future, there will be a need for constant cargo launches from Earth to Mars in order to build, and then sustain, a Martian base. Currently, chemical rockets are used for space launches. These are expensive and heavy due to the amount of necessary propellant. Nuclear thermal rockets (NTRs) are the next step in rocket design. Another alternative is to create a launcher on the lunar surface that uses magnetic levitation to launch cargo to Mars in order to minimize the amount of necessary propellant per mission. This paper investigates using nuclear power for six different cargo launching alternatives, as well as the orbital mechanics involved in launching cargo to a Martian base from the moon. Each alternative is compared to the other alternative launchers, as well as compared to using an NTR instead. This comparison is done on the basis of mass that must be shipped from Earth, the amount of necessary propellant, and the number of equivalent NTR launches. Of the options, a lunar coil launcher had a ship mass that is 12.7% less than the next best option and 17 NTR equivalent launches, making it the best of the presented six options.

Parametric system studies of candidate TF coil system options for the Tokamak Fusion Core Experiment (TFCX)

International Nuclear Information System (INIS)

Reiersen, W.T.; Flanagan, C.A.; Miller, J.B.

1983-01-01

System studies were performed to determine the sensitivity of hybrid and superconducting toroidal field (TF) coil system options to maximum field at the TF coil and to field enhancement due to resistive insert coils. The studies were performed using Tokamak Fusion Core Experiment (TFCX) design assumptions, guidelines, and criteria and involved iterative execution of the Fusion Engineering Design Center (FEDC) systems code, magnetohydrodynamics (MHD) equilibrium code, and EFFI (a code to evaluate magnetic field strength). The results indicate that for TFCX with no minimum wall loading specified, a design point chosen solely on the basis of cost would likely be in the low-field region of design space where the cost advantage of hybrids is least apparent. However, as the desired neutron wall loading increases, the hybrid option suggests an increasing cost advantage over the all-superconducting option; this cost advantage is countered by increased complexity in design -- particularly in assembly and maintenance

Parametric system studies of candidate TF coil system options for the Tokamak Fusion Core Experiment (TFCX)

International Nuclear Information System (INIS)

Reiersen, W.T.; Flanagan, C.A.; Miller, J.B.

1983-01-01

System studies were performed to determine the sensitivity of hybrid and superconducting toroidal field (TF) coil system options to maximum field at the TF coil and to field enhancement due to resistive insert coils. The studies were performed using Tokamak Fusion Core Experiment (TFCX) design assumptions, guidelines, and criteria and involved iterative execution of the Fusion Engineering Design Center (FEDC) systems code, magnetohydrodynamics (MHD) equilibrium code, and EFFI (a code to evaluate magnetic field strength). The results indicate that for TFCX with no minimum wall loading specified, a design point chosen solely on the basis of cost would likely be in the low-field region of design space where the cost advantage of hybrids is least apparent. However, as the desired neutron wall loading increases, the hybrid option suggests an increasing cost advantage over the all-superconducting option; this cost advantage is countered by increased complexity in design - particularly in assembly and maintenance

Equity Options During the Shorting Ban of 2008

Directory of Open Access Journals (Sweden)

Nusret Cakici

2018-03-01

Full Text Available The Securities and Exchange Commission’s 2008 emergency order introduced a shorting ban of some 800 financials traded in the US. This paper provides an empirical analysis of the options market around the ban period. Using transaction level data from OPRA (The Options Price Reporting Authority, we study the options volume, spreads, pricing measures and option trade volume informativeness during the ban. We also consider the put–call parity relationship. While mostly statistically significant, economic magnitudes of our results suggest that the impact of the ban on the equity options market was likely not as dramatic as initially thought.

Comparative cost-effectiveness of Option B+ for prevention of mother to child transmission of HIV in Malawi: Mathematical modelling study

Science.gov (United States)

Tweya, Hannock; Keiser, Olivia; Haas, Andreas D.; Tenthani, Lyson; Phiri, Sam; Egger, Matthias; Estill, Janne

2016-01-01

Objective To estimate the cost-effectiveness of prevention of mother to child transmission (MTCT) of HIV with lifelong antiretroviral therapy (ART) for pregnant and breastfeeding women (‘Option B+’) compared to ART during pregnancy or breastfeeding only unless clinically indicated (‘Option B’). Design Mathematical modelling study of first and second pregnancy, informed by data from the Malawi Option B+ programme. Methods Individual-based simulation model. We simulated cohorts of 10,000 women and their infants during two subsequent pregnancies, including the breastfeeding period, with either Option B+ or B. We parameterised the model with data from the literature and by analysing programmatic data. We compared total costs of ante-natal and post-natal care, and lifetime costs and disability-adjusted life-years (DALYs) of the infected infants between Option B+ and Option B. Results During the first pregnancy, 15% of the infants born to HIV-infected mothers acquired the infection. With Option B+, 39% of the women were on ART at the beginning of the second pregnancy, compared to 18% with Option B. For second pregnancies, the rates MTCT were 11.3% with Option B+ and 12.3% with Option B. The incremental cost-effectiveness ratio comparing the two options ranged between about US$ 500 and US$ 1300 per DALY averted. Conclusion Option B+ prevents more vertical transmissions of HIV than Option B, mainly because more women are already on ART at the beginning of the next pregnancy. Option B+ is a cost-effective strategy for PMTCT if the total future costs and lost lifetime of the infected infants are taken into account. PMID:26691682

Integrating experimental and numerical methods for a scenario-based quantitative assessment of subsurface energy storage options

Science.gov (United States)

Kabuth, Alina; Dahmke, Andreas; Hagrey, Said Attia al; Berta, Márton; Dörr, Cordula; Koproch, Nicolas; Köber, Ralf; Köhn, Daniel; Nolde, Michael; Tilmann Pfeiffer, Wolf; Popp, Steffi; Schwanebeck, Malte; Bauer, Sebastian

2016-04-01

Within the framework of the transition to renewable energy sources ("Energiewende"), the German government defined the target of producing 60 % of the final energy consumption from renewable energy sources by the year 2050. However, renewable energies are subject to natural fluctuations. Energy storage can help to buffer the resulting time shifts between production and demand. Subsurface geological structures provide large potential capacities for energy stored in the form of heat or gas on daily to seasonal time scales. In order to explore this potential sustainably, the possible induced effects of energy storage operations have to be quantified for both specified normal operation and events of failure. The ANGUS+ project therefore integrates experimental laboratory studies with numerical approaches to assess subsurface energy storage scenarios and monitoring methods. Subsurface storage options for gas, i.e. hydrogen, synthetic methane and compressed air in salt caverns or porous structures, as well as subsurface heat storage are investigated with respect to site prerequisites, storage dimensions, induced effects, monitoring methods and integration into spatial planning schemes. The conceptual interdisciplinary approach of the ANGUS+ project towards the integration of subsurface energy storage into a sustainable subsurface planning scheme is presented here, and this approach is then demonstrated using the examples of two selected energy storage options: Firstly, the option of seasonal heat storage in a shallow aquifer is presented. Coupled thermal and hydraulic processes induced by periodic heat injection and extraction were simulated in the open-source numerical modelling package OpenGeoSys. Situations of specified normal operation as well as cases of failure in operational storage with leaking heat transfer fluid are considered. Bench-scale experiments provided parameterisations of temperature dependent changes in shallow groundwater hydrogeochemistry. As a

Moisture monitoring and control system engineering study

International Nuclear Information System (INIS)

Carpenter, K.E.; Fadeff, J.G.

1995-01-01

During the past 50 years, a wide variety of chemical compounds have been placed in the 149 single-shell tanks (SSTS) on the Hanford Site. A concern relating to chemical stability, chemical control, and safe storage of the waste is the potential for propagating reactions as a result of ferrocyanide-oxidizer and organic-oxidizer concentrations in the SSTS. Propagating reactions in fuel-nitrate mixtures are precluded if the amounts of fuel and moisture present in the waste are within specified limits. Because most credible ignition sources occur near the waste surface, the main emphasis of this study is toward monitoring and controlling moisture in the top 14 cm (5.5 in.) of waste. The purpose of this engineering study is to recommend a moisture monitoring and control system for use in SSTs containing sludge and saltcake. This study includes recommendations for: (1) monitoring and controlling moisture in SSTs; (2) the fundamental design criteria for a moisture monitoring and control system; and (3) criteria for the deployment of a moisture monitoring and control system in hanford Site SSTs. To support system recommendations, technical bases for selecting and using a moisture monitoring and control system are presented. Key functional requirements and a conceptual design are included to enhance system development and establish design criteria

Systems engineering study: tank 241-C-103 organic skimming,storage, treatment and disposal options

Energy Technology Data Exchange (ETDEWEB)

Klem, M.J.

1996-10-23

This report evaluates alternatives for pumping, storing, treating and disposing of the separable phase organic layer in Hanford Site Tank 241-C-103. The report provides safety and technology based preferences and recommendations. Two major options and several varations of these options were identified. The major options were: 1) transfer both the organic and pumpable aqueous layers to a double-shell tank as part of interim stabilization using existing salt well pumping equipment or 2) skim the organic to an above ground before interim stabilization of Tank 241-C-103. Other options to remove the organic were considered but rejected following preliminary evaluation.

Workplace monitoring of mixed neutron-photon radiation fields and its contribution to external dosimetry

International Nuclear Information System (INIS)

Schuhmacher, H.

2011-01-01

Workplace monitoring is a common procedure for determining measures for routine radiation protection in a particular working environment. For mixed radiation fields consisting of neutrons and photons, it is of increased importance because it contributes to the improved accuracy of individual monitoring. An example is the determination of field-specific correction factors, which can be applied to the readings of personal dosemeters. This paper explains the general problems associated with individual dosimetry of neutron radiation, and describes the various options for workplace monitoring. These options cover a range from the elaborate field characterisation using transport calculations or spectrometers to the simpler approach using area monitors. Examples are given for workplaces in nuclear industry, at particle accelerators and at flight altitudes. (authors)

TANK SPACE OPTIONS REPORT

International Nuclear Information System (INIS)

Willis, W.L.; Ahrendt, M.R.

2009-01-01

Since this report was originally issued in 2001, several options proposed for increasing double-shell tank (DST) storage space were implemented or are in the process of implementation. Changes to the single-shell tank (SST) waste retrieval schedule, completion of DST space saving options, and the DST space saving options in progress have delayed the projected shortfall of DST storage space from the 2007-2011 to the 2018-2025 timeframe (ORP-11242, River Protection Project System Plan). This report reevaluates options from Rev. 0 and includes evaluations of new options for alleviating projected restrictions on SST waste retrieval beginning in 2018 because of the lack of DST storage space.

Observing Optional Number in DDC Edition 23

Directory of Open Access Journals (Sweden)

Mohamad Rotmianto

2015-04-01

Full Text Available Dewey Decimal Classification is a most popular classification system in the world because of its completeness and most up-to-date. There are many optional number in this classification system, although it rarely to be discussed even it is important to known well about that optional number, especially  for  a  librarian  as  classifier.  This  paper  is  a  literature  study  about  Dewey  Decimal Classification  Edition  23,  to  describe  about  optional  numbers,  particularly  the  number  in relationship with Indonesia’s subject and discipline. This paper is to avoid misunderstanding in interpreted about optional number among librarians, especially for who that does not understand well about optional numbers.

"Internet of Things" Real-Time Free Flap Monitoring.

Science.gov (United States)

Kim, Sang Hun; Shin, Ho Seong; Lee, Sang Hwan

2018-01-01

Free flaps are a common treatment option for head and neck reconstruction in plastic reconstructive surgery, and monitoring of the free flap is the most important factor for flap survival. In this study, the authors performed real-time free flap monitoring based on an implanted Doppler system and "internet of things" (IoT)/wireless Wi-Fi, which is a convenient, accurate, and efficient approach for surgeons to monitor a free flap. Implanted Doppler signals were checked continuously until the patient was discharged by the surgeon and residents using their own cellular phone or personal computer. If the surgeon decided that a revision procedure or exploration was required, the authors checked the consumed time (positive signal-to-operating room time) from the first notification when the flap's status was questioned to the determination for revision surgery according to a chart review. To compare the efficacy of real-time monitoring, the authors paired the same number of free flaps performed by the same surgeon and monitored the flaps using conventional methods such as a physical examination. The total survival rate was greater in the real-time monitoring group (94.7% versus 89.5%). The average time for the real-time monitoring group was shorter than that for the conventional group (65 minutes versus 86 minutes). Based on this study, real-time free flap monitoring using IoT technology is a method that surgeon and reconstruction team can monitor simultaneously at any time in any situation.

Assessing the Option to Abandon an Investment Project by the Binomial Options Pricing Model

Directory of Open Access Journals (Sweden)

Salvador Cruz Rambaud

2016-01-01

Full Text Available Usually, traditional methods for investment project appraisal such as the net present value (hereinafter NPV do not incorporate in their values the operational flexibility offered by including a real option included in the project. In this paper, real options, and more specifically the option to abandon, are analysed as a complement to cash flow sequence which quantifies the project. In this way, by considering the existing analogy with financial options, a mathematical expression is derived by using the binomial options pricing model. This methodology provides the value of the option to abandon the project within one, two, and in general n periods. Therefore, this paper aims to be a useful tool in determining the value of the option to abandon according to its residual value, thus making easier the control of the uncertainty element within the project.

Monitoring and economic factors affecting the economic viability of afforestation for carbon sequestration projects

International Nuclear Information System (INIS)

Robertson, Kimberly; Loza-Balbuena, Isabel; Ford-Robertson, Justin

2004-01-01

The Kyoto Protocol is the first step towards achieving the objectives of the United Nations Framework Convention on Climate Change and aims among others to promote 'the protection and enhancement of carbon sinks and reservoirs'. To encourage afforestation for carbon sequestration a project must be economically viable. This study uses a model to analyse the impact on project viability of a range of carbon monitoring options, international carbon credit value and discount rate, applied to a Pinus radiata afforestation project in New Zealand. Monitoring carbon in conjunction with conventional forest inventory shows the highest return. Long-term average carbon accounting has lower accounting costs, compared to annual and 5 yearly accounting, as monitoring is only required every 5-10 years until the long-term average is attained. In this study we conclude that monitoring soil carbon stocks is not economically feasible using any of the accounting methods, when carbon is valued at US$ 10/t. This conclusion may be relevant to forest carbon sequestration projects elsewhere in the world and suggests care is needed in selecting the appropriate carbon monitoring options to avoid the risk that costs could be higher than any monetary benefits from terrestrial carbon sequestration. This would remove any commercial incentive to afforest for carbon sequestration reasons and severely limit the use of forest sinks as part of any package of measures addressing the ultimate objective of the UNFCCC

Forecasting with Option-Implied Information

DEFF Research Database (Denmark)

Christoffersen, Peter; Jacobs, Kris; Chang, Bo Young

2013-01-01

This chapter surveys the methods available for extracting information from option prices that can be used in forecasting. We consider option-implied volatilities, skewness, kurtosis, and densities. More generally, we discuss how any forecasting object that is a twice differentiable function...... of the future realization of the underlying risky asset price can utilize option-implied information in a well-defined manner. Going beyond the univariate option-implied density, we also consider results on option-implied covariance, correlation and beta forecasting, as well as the use of option......-implied information in cross-sectional forecasting of equity returns. We discuss how option-implied information can be adjusted for risk premia to remove biases in forecasting regressions....

Options of sustainable groundwater supply from safe aquifers in areas with elevated arsenic - a case study from Bangladesh

Science.gov (United States)

Jakariya, M.; Bhattacharya, P.; Bromssen, M. V.

2008-05-01

Access to safe drinking water is a basic human right. Several millions of people, mainly in developing countries are affected by arsenic in drinking water and the global impact now makes it a top priority water quality issue. A wide gap between the number of exposed people and the pace of mitigation programmes in rural areas of developing countries is the main problem in providing safe drinking water. The main challenge is to develop a sustainable mitigation option that rural and disadvantaged people can adopt and implement themselves to overcome possible public heath hazards. During the recent years, new approaches have emerged in Bangladesh, primarily emerging out of people's own initiative. The local drillers target presumed safe aquifers on the basis of colour and texture of the sediments. A recent study by our research group revealed a distinct correlation between the colour characteristics of the sediments and the groundwater redox conditions. The coupling between the colour of sediments and the redox characteristics of groundwater may thus be used as a tool to assess the risk for As mobilization from the aquifers. The study showed that it is possible to assess the relative risk of high concentrations of As in aquifers if the colour characteristics of the sediments are known and thus, local drillers may target safe aquifers. For validating the sustainability of this mitigation option geological, hydrogeological and microbiological investigations are needed. The sustainability of the aquifers needs to be assessed by combining results from various field and laboratory investigations and by running predictive models. There is also a need to raise the awareness and thereby create a platform for motivating the local drillers to be educated in installing safe tubewells. Awareness raising and community mobilisation are two top priorities for implementing a sustainable safe water project in rural village areas. Significant preparation, attention, and focus must be

Essay on Option Pricing, Hedging and Calibration

DEFF Research Database (Denmark)

da Silva Ribeiro, André Manuel

Quantitative finance is concerned about applying mathematics to financial markets.This thesis is a collection of essays that study different problems in this field: How efficient are option price approximations to calibrate a stochastic volatilitymodel? (Chapter 2) How different is the discretely...... of dynamics? (Chapter 5) How can we formulate a simple free-arbitrage model to price correlationswaps? (Chapter 6) A summary of the work presented in this thesis: Approximation Behooves Calibration In this paper we show that calibration based on an expansion approximation for option prices in the Heston...... stochastic volatility model gives stable, accurate, and fast results for S&P500-index option data over the period 2005 to 2009. Discretely Sampled Variance Options: A Stochastic Approximation Approach In this paper, we expand Drimus and Farkas (2012) framework to price variance options on discretely sampled...

Conservation and Development Options existing on Uluguru ...

African Journals Online (AJOL)

Effective management of projects on Uluguru Mountains requires that both development and conservation options are weighed and that opportunities and challenges are considered. This study identified various conservation and development options existing on Uluguru Mountains and assessed the perceptions of the local ...

Recognition For Index Option Contracts U nder IAS 39 And IFRS 9 – The Case Of Option Contracts Bound To BIST 30 Index

Directory of Open Access Journals (Sweden)

Nevran Karaca

2014-09-01

Full Text Available There is a limited number of academic studies about accoun ting for derivative products but non of them relating to the accounting for index option contracts. Within the scope of the study, it is aimed to indicate accounting regulations and procedures to be followed under IAS 39 and IFRS 9 for option contracts whi ch traded in Futures and Options Exchange. The BIST 30 index option contracts having the highest volume of transaction and traded in VIOP is the main subject of the study via this objective. It is aimed to make the issue explicit by the help of a fictional ized example about these contracts.

HIV-positive pregnant and postpartum women's perspectives about Option B+ in Malawi: a qualitative study.

Science.gov (United States)

Katirayi, Leila; Namadingo, Hazel; Phiri, Mafayo; Bobrow, Emily A; Ahimbisibwe, Allan; Berhan, Aida Yemane; Buono, Nicole; Moland, Karen Marie; Tylleskär, Thorkild

2016-01-01

The implementation of lifelong antiretroviral treatment (ART) for all pregnant women (Option B+) in Malawi has resulted in a significant increase in the number of HIV-positive pregnant women initiating treatment. However, research has highlighted the challenge of retaining newly initiated women in care. This study explores barriers and facilitators that affect a woman's decision to initiate and to adhere to Option B+. A total of 39 in-depth interviews and 16 focus group discussions were conducted. Eligible women were ≥18 years old, living with HIV and either pregnant and receiving antenatal care from a study site or had delivered a child within the last 18 months, breastfed their child and received services at one of the study sites. Eligible women were identified by healthcare workers (HCWs) in the antenatal clinic and ART unit. Focus groups were also conducted with HCWs employed in these departments. Qualitative data were analyzed using Maxqda version 10 (VERBI Software, Berlin, Germany). The general perception towards the drug regimen used in Option B+ was positive; women reported fewer side effects and acknowledged the positive benefits of ART. Women felt hopeful about prolonging their life and having an HIV-uninfected baby, yet grappled with the fact that ART is a lifelong commitment. Women and HCWs discussed challenges with the counselling services for prevention of mother-to-child HIV transmission under the new Option B+ guidelines, and many women struggled with initiating ART on the same day as learning their HIV status. Women wanted to discuss their circumstances with their husbands first, receive a CD4 count and obtain an HIV test at another facility to confirm their HIV status. HCWs expressed concern that women might just agree to take the drugs to please them. HCWs also discussed concerns around loss to follow-up and drug resistance. Although Option B+ has significantly increased the number of women initiating ART, there are still challenges that need

Buridan's Ass and a Menu of Options.

OpenAIRE

Svetlana Boyarchenko

2005-01-01

The goal of the paper is to study how a menu of options affects decisions of a rational agent facing uncertainty over future payoff streams. Using the real options approach, we demonstrate that multiple options not only increase the barrier which the underlying stochastic variable has to reach in order investment became optimal, but cause the investor to be inactive even when the cost of investment is vanishing. As a technical contribution, the paper suggests a robust method of solution of a ...

Multi-detector environmental radiation monitor with multichannel data communication for Indian Environmental Radiation Monitoring Network (IERMON)

International Nuclear Information System (INIS)

Patel, M.D.; Ratheesh, M.P.; Prakasha, M.S.; Salunkhe, S.S.; Vinod Kumar, A.; Puranik, V.D.; Nair, C.K.G.

2011-01-01

A solar powered system for online monitoring of environmental radiation with multiple detectors has been designed, developed and produced. Multiple GM tube detectors have been used to extend the range of measurement from 50 nano Gy/hr to 20 Gy/hr and to enhance the reliability of the system. Online data communication using GSM based and direct LAN based communication has been incorporated. Options for use of power supply from mains powered and battery powered have been enabled. Care has been taken to make it weather-proof, compact, elegant and reliable. The development is a part of the ongoing program of country-wide deployment of radiation monitors under 'Indian Environmental Radiation MOnitoring Network' (IERMON). (author)

Irregular grid methods for pricing high-dimensional American options

NARCIS (Netherlands)

Berridge, S.J.

2004-01-01

This thesis proposes and studies numerical methods for pricing high-dimensional American options; important examples being basket options, Bermudan swaptions and real options. Four new methods are presented and analysed, both in terms of their application to various test problems, and in terms of

A Pilot Study on Applying Risk Informed Application Option 2 to Two Systems in UCN 3

International Nuclear Information System (INIS)

Kim, Kil Yoo; Hwang, Mee Jeong; Yang, Joon Eon

2005-01-01

To reduce the unnecessary burden of a regulation, NRC prepared three options for the risk informed regulatory framework known as Option 1, Option 2 and Option 3. In Option 2, all safety related Structure, System and Components (SSCs) and non-safety related SSCs are evaluated from a safety point of view, and the low safety significant SSCs belonging to the safety related group are called 'Risk Informed Safety Class (RISC) - 3' SSCs. The 'RISC-3' SSCs can be exempted from the special treatment requirements such as a seismic and environmental requirement, of 10 CFR 50. For Option 2, 10 CFR 50.69 was issued by US NRC, and NEI 00-04 was prepared by US industry as a categorization guideline for 10 CFR 50.69, and US NRC endorsed the NEI 00-04 methodology for Option 2 in Reg. Guide 1.201. This paper describes the Option 2 method applied to the high pressure safety injection system (HPSI) and the essential service water system (ESW) of UCN 3

Early Option Exercise

DEFF Research Database (Denmark)

Heje Pedersen, Lasse; Jensen, Mads Vestergaard

A classic result by Merton (1973) is that, except just before expiration or dividend payments, one should never exercise a call option and never convert a convertible bond. We show theoretically that this result is overturned when investors face frictions. Early option exercise can be optimal when...... it reduces short-sale costs, transaction costs, or funding costs. We provide consistent empirical evidence, documenting billions of dollars of early exercise for options and convertible bonds using unique data on actual exercise decisions and frictions. Our model can explain as much as 98% of early exercises...

Early Option Exercise

DEFF Research Database (Denmark)

Jensen, Mads Vestergaard; Heje Pedersen, Lasse

2016-01-01

A classic result by Merton (1973) is that, except just before expiration or dividend payments, one should never exercise a call option and never convert a convertible bond. We show theoretically that this result is overturned when investors face frictions. Early option exercise can be optimal when...... it reduces short-sale costs, transaction costs, or funding costs. We provide consistent empirical evidence, documenting billions of dollars of early exercise for options and convertible bonds using unique data on actual exercise decisions and frictions. Our model can explain as much as 98% of early exercises...

The Impact of the Prior Density on a Minimum Relative Entropy Density: A Case Study with SPX Option Data

Directory of Open Access Journals (Sweden)

Cassio Neri

2014-05-01

Full Text Available We study the problem of finding probability densities that match given European call option prices. To allow prior information about such a density to be taken into account, we generalise the algorithm presented in Neri and Schneider (Appl. Math. Finance 2013 to find the maximum entropy density of an asset price to the relative entropy case. This is applied to study the impact of the choice of prior density in two market scenarios. In the first scenario, call option prices are prescribed at only a small number of strikes, and we see that the choice of prior, or indeed its omission, yields notably different densities. The second scenario is given by CBOE option price data for S&P500 index options at a large number of strikes. Prior information is now considered to be given by calibrated Heston, Schöbel–Zhu or Variance Gamma models. We find that the resulting digital option prices are essentially the same as those given by the (non-relative Buchen–Kelly density itself. In other words, in a sufficiently liquid market, the influence of the prior density seems to vanish almost completely. Finally, we study variance swaps and derive a simple formula relating the fair variance swap rate to entropy. Then we show, again, that the prior loses its influence on the fair variance swap rate as the number of strikes increases.

Mixed waste management options

International Nuclear Information System (INIS)

Owens, C.B.; Kirner, N.P.

1992-01-01

Currently, limited storage and treatment capacity exists for commercial mixed waste streams. No commercial mixed waste disposal is available, and it has been estimated that if and when commercial mixed waste disposal becomes available, the costs will be high. If high disposal fees are imposed, generators may be willing to apply extraordinary treatment or regulatory approaches to properly dispose of their mixed waste. This paper explores the feasibility of several waste management scenarios and management options. Existing data on commercially generated mixed waste streams are used to identify the realm of mixed waste known to be generated. Each waste stream is evaluated from both a regulatory and technical perspective in order to convert the waste into a strictly low-level radioactive or a hazardous waste. Alternative regulatory approaches evaluated in this paper include a delisting petition) no migration petition) and a treatability variance. For each waste stream, potentially available treatment options are identified that could lead to these variances. Waste minimization methodology and storage for decay are also considered. Economic feasibility of each option is discussed broadly. Another option for mixed waste management that is being explored is the feasibility of Department of Energy (DOE) accepting commercial mixed waste for treatment, storage, and disposal. A study has been completed that analyzes DOE treatment capacity in comparison with commercial mixed waste streams. (author)

Application of Binomial Model and Market Asset Declaimer Methodology for Valuation of Abandon and Expand Options. The Case Study

Directory of Open Access Journals (Sweden)

Paweł Mielcarz

2007-06-01

Full Text Available The article presents a case study of valuation of real options included in a investment project. The main goal of the article is to present the calculation and methodological issues of application the methodology for real option valuation. In order to do it there are used the binomial model and Market Asset Declaimer methodology. The project presented in the article concerns the introduction of radio station to a new market. It includes two valuable real options: to abandon the project and to expand.

Expensing options solves nothing.

Science.gov (United States)

Sahlman, William A

2002-12-01

The use of stock options for executive compensation has become a lightning rod for public anger, and it's easy to see why. Many top executives grew hugely rich on the back of the gains they made on their options, profits they've been able to keep even as the value they were supposed to create disappeared. The supposed scam works like this: Current accounting regulations let companies ignore the cost of option grants on their income statements, so they can award valuable option packages without affecting reported earnings. Not charging the cost of the grants supposedly leads to overstated earnings, which purportedly translate into unrealistically high share prices, permitting top executives to realize big gains when they exercise their options. If an accounting anomaly is the problem, then the solution seems obvious: Write off executive share options against the current year's revenues. The trouble is, Sahlman writes, expensing option grants won't give us a more accurate view of earnings, won't add any information not already included in the financial statements, and won't even lead to equal treatment of different forms of executive pay. Far worse, expensing evades the real issue, which is whether compensation (options and other-wise) does what it's supposed to do--namely, help a company recruit, retain, and provide the right people with appropriate performance incentives. Any performance-based compensation system has the potential to encourage cheating. Only ethical management, sensible governance, adequate internal control systems, and comprehensive disclosure will save the investor from disaster. If, Sahlman warns, we pass laws that require the expensing of options, thinking that's fixed the fundamental flaws in corporate America's accounting, we will have missed a golden opportunity to focus on the much more extensive defects in the present system.

Uncertainty Monitoring by Young Children in a Computerized Task

Directory of Open Access Journals (Sweden)

Michael J. Beran

2012-01-01

Full Text Available Adult humans show sophisticated metacognitive abilities, including the ability to monitor uncertainty. Unfortunately, most measures of uncertainty monitoring are limited to use with adults due to their general complexity and dependence on explicit verbalization. However, recent research with nonhuman animals has successfully developed measures of uncertainty monitoring that are simple and do not require explicit verbalization. The purpose of this study was to investigate metacognition in young children using uncertainty monitoring tests developed for nonhumans. Children judged whether stimuli were more pink or blue—stimuli nearest the pink-blue midpoint were the most uncertain and the most difficult to classify. Children also had an option to acknowledge difficulty and gain the necessary information for correct classification. As predicted, children most often asked for help on the most difficult stimuli. This result confirms that some metacognitive abilities appear early in cognitive development. The tasks of animal metacognition research clearly have substantial utility for exploring the early developmental roots of human metacognition.

Distributed Energy Implementation Options

Energy Technology Data Exchange (ETDEWEB)

Shah, Chandralata N [National Renewable Energy Laboratory (NREL), Golden, CO (United States)

2017-09-13

This presentation covers the options for implementing distributed energy projects. It distinguishes between options available for distributed energy that is government owned versus privately owned, with a focus on the privately owned options including Energy Savings Performance Contract Energy Sales Agreements (ESPC ESAs). The presentation covers the new ESPC ESA Toolkit and other Federal Energy Management Program resources.

Assessing Option Grid® practicability and feasibility for facilitating shared decision making: An exploratory study.

Science.gov (United States)

Tsulukidze, Maka; Grande, Stuart W; Gionfriddo, Michael R

2015-07-01

To assess the feasibility of Option Grids(®)for facilitating shared decision making (SDM) in simulated clinical consultations and explore clinicians' views on their practicability. We used mixed methods approach to analyze clinical consultations using the Observer OPTION instrument and thematic analysis for follow-up interviews with clinicians. Clinicians achieved high scores on information sharing and low scores on preference elicitation and integration. Four themes were identified: (1) Barriers affect practicability of Option Grids(®); (2) Option Grids(®) facilitate the SDM process; (3) Clinicians are aware of the gaps in their practice of SDM; (4) Training and ongoing feedback on the optimal use of Option Grids(®) are necessary. Use of Option Grids(®) by clinicians with background knowledge in SDM did not facilitate optimal levels of competency on the SDM core concepts of preference elicitation and integration. Future research must evaluate the impact of training on the use of Option Grids(®), and explore how best to help clinicians bridge the gap between knowledge and action. Clinicians proficiently imparting information in simulations struggled to elicit and integrate patient preferences - understanding this gap and developing strategies to close it are the next steps for implementing SDM into clinical practice. Copyright © 2015 Elsevier Ireland Ltd. All rights reserved.

EXECUTIVE STOCK OPTION EXERCISING BEHAVIOR: EVIDENCE FROM BURSA MALAYSIA

OpenAIRE

Ahmad Ibn Ibrahimy; Dr. Rubi Ahmad

2012-01-01

In spite of the fact that shareholders exercise their options when it is in the money, s eparation of ownership and control creates the necessity of verifying the adoption of corporate governance mechanism, such as Executive Stock Option Scheme (ESOs). This study verifies the relationship between Executive Stock Option (ESO) exercise and firm performance to explore the exercise pattern of Malaysian executives whether there is any differences in trading option. We found a significant positive ...

OPTION(5) versus OPTION(12) instruments to appreciate the extent to which healthcare providers involve patients in decision-making

NARCIS (Netherlands)

Stubenrouch, Fabienne E.; Pieterse, Arwen H.; Falkenberg, Rijan; Santema, T. Katrien B.; Stiggelbout, Anne M.; van der Weijden, Trudy; Aarts, J. Annemijn W. M.; Ubbink, Dirk T.

2016-01-01

The 12-item "observing patient involvement" (OPTION(12))-instrument is commonly used to assess the extent to which healthcare providers involve patients in health-related decision-making. The five-item version (OPTION(5)) claims to be a more efficient measure. In this study we compared the Dutch

OPTION(5) versus OPTION(12) instruments to appreciate the extent to which healthcare providers involve patients in decision-making

NARCIS (Netherlands)

Stubenrouch, F.E.; Pieterse, A.H.; Falkenberg, R.; Santema, T.K.; Stiggelbout, A.M.; Weijden, G.D.E.M. van der; Aarts, J.W.M.; Ubbink, D.T.

2016-01-01

OBJECTIVE: The 12-item "observing patient involvement" (OPTION(12))-instrument is commonly used to assess the extent to which healthcare providers involve patients in health-related decision-making. The five-item version (OPTION(5)) claims to be a more efficient measure. In this study we compared

Index options : Pricing, implied densities and returns

NARCIS (Netherlands)

Boes, M.J.

2006-01-01

Chapter 2 gives an overview of the literature that is directly related to the topics studied in this thesis. In Chapter 3 the impact of overnight periods on option prices is examined by estimating an option pricing model that takes overnight closures of exchanges explicitly into account. Chapter 4

Propulsive options for a manned Mars transportation system

International Nuclear Information System (INIS)

Braun, R.D.; Blersch, D.J.

1989-01-01

In this investigation, five potential manned Mars transportation systems are compared. These options include: (1) a single vehicle, chemically propelled (CHEM) option, (2) a single vehicle, nuclear thermal propulsion (NTP) option, (3) a single vehicle solar electric propulsion (SEP) option, (4) a single vehicle hybrid nuclear electric propulsion (NEP)/CHEM option, and (5) a dual vehicle option (NEP cargo spacecraft and CHEM manned vehicle). In addition to utilizing the initial vehicle weight in low-earth orbit as a measure of mission feasibility, this study addresses the major technological barriers each propulsive scenario must surpass. It is shown that instead of a single clearly superior propulsion system, each means of propulsion may be favored depending upon the specified program policy and the extent of the desired manned flight time. Furthermore, the effect which aerobraking and multiple transfer cycles have upon mission feasibility is considered. 18 refs

Multifractal analysis of implied volatility in index options

Science.gov (United States)

Oh, GabJin

2014-06-01

In this paper, we analyze the statistical and the non-linear properties of the log-variations in implied volatility for the CAC40, DAX and S& P500 daily index options. The price of an index option is generally represented by its implied volatility surface, including its smile and skew properties. We utilize a Lévy process model as the underlying asset to deepen our understanding of the intrinsic property of the implied volatility in the index options and estimate the implied volatility surface. We find that the options pricing models with the exponential Lévy model can reproduce the smile or sneer features of the implied volatility that are observed in real options markets. We study the variation in the implied volatility for at-the-money index call and put options, and we find that the distribution function follows a power-law distribution with an exponent of 3.5 ≤ γ ≤ 4.5. Especially, the variation in the implied volatility exhibits multifractal spectral characteristics, and the global financial crisis has influenced the complexity of the option markets.

Crude oil options market found to be efficient

International Nuclear Information System (INIS)

Anon.

1992-01-01

This paper reports that the U.S. crude oil options market operates efficiently and does not overreact. The authors, with the JFK School of Government, studied the crude oil options market under a Department of Energy grant. The current market was created in November 1986 when the New York Mercantile Exchange introduced an options contract for delivery of West Texas intermediate crude futures. it has grown greatly since then

Perpetual American vanilla option pricing under single regime change risk: an exhaustive study

Science.gov (United States)

Montero, Miquel

2009-07-01

Perpetual American options are financial instruments that can be readily exercised and do not mature. In this paper we study in detail the problem of pricing this kind of derivatives, for the most popular flavour, within a framework in which some of the properties—volatility and dividend policy—of the underlying stock can change at a random instant of time but in such a way that we can forecast their final values. Under this assumption we can model actual market conditions because most relevant facts usually entail sharp predictable consequences. The effect of this potential risk on perpetual American vanilla options is remarkable: the very equation that will determine the fair price depends on the solution to be found. Sound results are found under the optics both of finance and physics. In particular, a parallelism among the overall outcome of this problem and a phase transition is established.

Flexible Work Options within the Organisational System

Science.gov (United States)

Albion, Majella J.; Chee, Munli

2006-01-01

The availability of flexible work options provides an opportunity for individuals to shape their careers in order to optimise their work and life goals. This study takes a systems theory approach to examine how the use of flexible work options influences relationships and interactions in the workplace. The "Flexible Work Options…

Evaluation of advanced propulsion options for the next manned transportation system: Propulsion evolution study

Science.gov (United States)

Spears, L. T.; Kramer, R. D.

1990-01-01

The objectives were to examine launch vehicle applications and propulsion requirements for potential future manned space transportation systems and to support planning toward the evolution of Space Shuttle Main Engine (SSME) and Space Transportation Main Engine (STME) engines beyond their current or initial launch vehicle applications. As a basis for examinations of potential future manned launch vehicle applications, we used three classes of manned space transportation concepts currently under study: Space Transportation System Evolution, Personal Launch System (PLS), and Advanced Manned Launch System (AMLS). Tasks included studies of launch vehicle applications and requirements for hydrogen-oxygen rocket engines; the development of suggestions for STME engine evolution beyond the mid-1990's; the development of suggestions for STME evolution beyond the Advanced Launch System (ALS) application; the study of booster propulsion options, including LOX-Hydrocarbon options; the analysis of the prospects and requirements for utilization of a single engine configuration over the full range of vehicle applications, including manned vehicles plus ALS and Shuttle C; and a brief review of on-going and planned LOX-Hydrogen propulsion technology activities.

32 CFR 48.201 - Options.

Science.gov (United States)

2010-07-01

... 32 National Defense 1 2010-07-01 2010-07-01 false Options. 48.201 Section 48.201 National Defense...'S FAMILY PROTECTION PLAN Election of Options § 48.201 Options. As provided in § 48.203, a member may... amount equal to such 121/2 per centum. (a) Option 1 is an annuity payable to or on behalf of his widow...

Study of structure of marine specialist activity in an ergative system on monitoring and managing automatic control parameters of safe navigation process

Directory of Open Access Journals (Sweden)

Kholichev S. N.

2016-12-01

Full Text Available The study of structures' common features and dynamics of the technical object tuning circuit performing automatic adjustment of safe navigation options has been conducted for the first time in the theory of ergative systems. The research of the structure and process of ergative system functioning including an automatic control system with the option of safe navigation conditions has been fulfilled. The function of signals' selection performing optimal control law reconfiguration of the mentioned system has been given, and some sequence of marine specialist activities allowing solve the problem of navigation safety has been composed. The ergative system retargeted by the ship specialist has a two-tier hierarchy. The first level is an automatic control of the safe navigation parameter, and the second is the level of reconfiguration where the ship specialist changes the parameters of regulation act. The two-level hierarchical representation of the ergative navigation security settings management system makes it possible to introduce the concept of reconfiguration of regulation level as ship specialist activity which is to reduce the uncertainty in the environment in the operation of this layer. Such a reduction can be achieved as a result of exposure to the upper level associated with ideas of the ship specialist on the regulation of safe navigation parameters of the vessel on the lower level – the level of direct control automatic safe navigation option. As a result of studying the activities of the ship specialist in the ergative system on monitoring and managing automatic control parameters of safe navigation process it has been found that the main task of the ship specialist in the operation within the ergative system ensuring the navigation safety is to monitor the input and output of the automatic control system, decisions on the choice of reconfiguration laws regulating signal on the basis of information about deviations and the

The None-of-the-Above Option: An Empirical Study.

Science.gov (United States)

Frary, Robert B.

1991-01-01

The use of the "none-of-the-above" option (NOTA) in 20 college-level multiple-choice tests was evaluated for classes with 100 or more students. Eight academic disciplines were represented, and 295 NOTA and 724 regular test items were used. It appears that the NOTA can be compatible with good classroom measurement. (TJH)

48 CFR 570.401 - Renewal options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Renewal options. 570.401... Requirements 570.401 Renewal options. (a) Exercise of options. Before exercising an option to renew, follow the... survey. Before exercising an option to renew a lease, review current market information to ensure the...

Treatment Options for Wilms Tumor

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... come back) after it has been treated. Treatment Option Overview Key Points There are different types of ...

Treatment Options for Myelodysplastic Syndromes

Science.gov (United States)

... special light. Certain factors affect prognosis and treatment options. The prognosis (chance of recovery) and treatment options ... age and general health of the patient. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Prostate Cancer)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Myelodysplastic Syndromes)

Science.gov (United States)

... special light. Certain factors affect prognosis and treatment options. The prognosis (chance of recovery) and treatment options ... age and general health of the patient. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Esophageal Cancer)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Childhood Rhabdomyosarcoma)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Penile Cancer)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Vulvar Cancer)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Pancreatic Cancer)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Adrenocortical Carcinoma)

Science.gov (United States)

... affect the prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Options for Childhood Rhabdomyosarcoma

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Options for Kaposi Sarcoma

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Options for Childhood Craniopharyngioma

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... the brain where it was first found. Treatment Option Overview Key Points There are different types of ...

Survey Probability and Factors affecting Farmers Participation in Future and Option Markets Case Study: Cotton product in Gonbad kavos city

Directory of Open Access Journals (Sweden)

F. sakhi

2016-03-01

Full Text Available Introduction: Farmers are facing with a variety of natural and unnatural risks in agricultural activities, and thus their income is unstable. A wide range of risks such as risks of production, price risk, financial and human risks, influence the income of agricultural products. One of the major risks that farmers faced is the risk of price volatility of agricultural products. Cotton is one of the agricultural products with high real price volatility. Numerous tools for marketing and risk management for agricultural products in the face of price risks are available. Futures and options contracts may be the most important available tools (to reduce price volatility in agricultural products. The purpose of the current study was to look at the possibility of farmers participations in the future and option markets that presented as a means to reduce the cotton prices volatility. The dependent variable for this purpose had four categories and these included: participate in both the market, participation in the future market, participation in the option market and participation in both future and option markets. Materials and Methods: data gathered with interview and completing 200 questionnaires of cotton growers using simple random sampling. Multinomial Logit Regression Model was used for data analysis. Results and Discussion: To measure content validity of the preliminary study the validity of confirmatory factor analysis were used. For calculating reliability, the pre-test done with 30 questionnaires and reliability, coefficient Cronbach alpha was 0.79. The independence of dependent variables categories was confirmed by Hausman test results. The Likelihood ratio and Wald showed these categories are not combinable. Results indicated into period 2014 -2015 and the sample under study, 35% of cotton growers unwilling to participate in future and option markets. Farmers willingness to participate in future and option market was 19% and %21

The Optional VenaTech™ Convertible™ Vena Cava Filter: Experimental Study in Sheep

International Nuclear Information System (INIS)

Le Blanche, Alain F.; Ricco, Jean-Baptiste; Bonneau, Michel; Reynaud, Philippe

2012-01-01

Purpose: Retrieval of optional caval filters may be impaired by filter tilting, migration, fracture, or embedding in the IVC wall. The goal of this experimental study was to evaluate a new optional filter, convertible by unlocking and removing the filter head. Methods: Forty-nine Pre-Alp sheep (average weight, 55 kg) were anesthetized. IVC was catheterized via the right femoral vein (n = 46) or via the internal jugular vein (n = 3) with a 12.9-F sheath. VenaTech ™ Convertible ™ IVC filters were inserted as either permanent filters (n = 14) or as filters to be converted. Conversion was immediately after deployment (n = 19) or delayed after 1, 3, or 6 months (n = 20). Filter delivery, deployment, and conversion with measurement of migration and tilting were evaluated by cavography. Incorporation of the filter’s stabilizers and arms in the IVC wall was assessed by gross anatomy. Results: Delivery system insertion, filter release, and immediate conversion were successful in all cases. Delayed conversion was completed in all but one sheep, due to insufficient snare tension. Complimentary balloon-catheter inflation was required in 12 of 20 delayed conversions to achieve filter opening. In all 49 sheep, no thrombosis, migration, or significant tilting occurred. Within 4 weeks of conversion, the filter’s stabilizers and arms were incorporated into the IVC wall. Upon removal, the filter head was free of intimal growth. Conclusions: The VenaTech ™ Convertible ™ optional IVC filter was successfully implanted in all sheep with no migration or tilting. Conversion at various dates by filter head removal was feasible in all but one case.

Trade Study of Multiple Thruster Options for the Mars Airplane Concept

Science.gov (United States)

Kuhl, Christopher A.; Gayle, Steven W.; Hunter, Craig A.; Kenney, Patrick S.; Scola, Salvatore; Paddock, David A.; Wright, Henry S.; Gasbarre, Joseph F.

2009-01-01

A trade study was performed at NASA Langley Research Center under the Planetary Airplane Risk Reduction (PARR) project (2004-2005) to examine the option of using multiple, smaller thrusters in place of a single large thruster on the Mars airplane concept with the goal to reduce overall cost, schedule, and technical risk. The 5-lbf (22N) thruster is a common reaction control thruster on many satellites. Thousands of these types of thrusters have been built and flown on numerous programs, including MILSTAR and Intelsat VI. This study has examined the use of three 22N thrusters for the Mars airplane propulsion system and compared the results to those of the baseline single thruster system.

Franchise ownership redirection: real options perspective

OpenAIRE

Nugroho, Lukito Adi

2016-01-01

Background: For over 40 years, the franchise ownership redirection hypothesis has attracted the attention of many scholars. This study, differing from previous ones, proposes an alternative approach for this hypothesis using a real options framework with the extension of agency theory. Method: The real options model is built using the least square Monte Carlo method, where the franchisor's decision to franchise is perceived as a deferred investment while maintaining the right of future acquis...

Monitoring the outcomes of interventions against Taenia solium: options and suggestions.

Science.gov (United States)

Lightowlers, M W; Garcia, H H; Gauci, C G; Donadeu, M; Abela-Ridder, B

2016-03-01

There is an increasing interest in reducing the incidence of human neurocysticercosis, caused by infection with the larval stage of Taenia solium. Several intervention trials are currently assessing various options for control of T. solium transmission. A critical aspect of these trials will be the evaluation of whether the interventions have been successful. However, there is no consensus about the most appropriate or valuable methods that should be used. Here, we undertake a critical assessment of the diagnostic tests which are currently available for human T. solium taeniasis and human and porcine cysticercosis, as well as their suitability for evaluation of intervention trial outcomes. Suggestions are made about which of the measures that are available for evaluation of T. solium interventions would be most suitable, and which methodologies are the most appropriate given currently available technologies. Suggestions are also made in relation to the most urgent research needs in order to address deficiencies in current diagnostic methods. © 2015 The Authors. Parasite Immunology Published by John Wiley & Sons Ltd.

Treatment Option Overview (Myelodysplastic/Myeloproliferative Neoplasms)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ...

The feasibility study I on the blanket fuel options for the ATW/HYPER

Energy Technology Data Exchange (ETDEWEB)

Hwang, Woan; Lee, Byoung Oon; Lee, Bong Sang; Park, Won Seok; Meyer, M.K; Hayes, S.L

2001-01-01

The choice of a blanket fuel cycle technology and the fuel type for HYPER/ATW are important to develop an ADS with better economics, performance and safety. Even though several fuel types have been considered as an alternative of the blanket fuels for HYPER/ATW, the metal alloy and the dispersion fuels were selected as the candidate fuels for ADS, and the technical feasibilities for both fuels are evaluated in this report. General performance characteristics, fabrication abilities, technical aspects, safety aspects, economics, and non-proliferation aspects for each fuel type are reviewed and evaluated. And some technological problems are addressed in this report, focused on the development strategy, the roadmaps, and the flexibility to meet the missions and specific designs. This study has been performed at the first stage of conceptual design. Since it is under the lack of physical properties for each fuel material, no an attempt is made to select the best fuel option, but the more better fuel options are recommended.

The feasibility study I on the blanket fuel options for the ATW/HYPER

International Nuclear Information System (INIS)

Hwang, Woan; Lee, Byoung Oon; Lee, Bong Sang; Park, Won Seok; Meyer, M.K; Hayes, S.L.

2001-01-01

The choice of a blanket fuel cycle technology and the fuel type for HYPER/ATW are important to develop an ADS with better economics, performance and safety. Even though several fuel types have been considered as an alternative of the blanket fuels for HYPER/ATW, the metal alloy and the dispersion fuels were selected as the candidate fuels for ADS, and the technical feasibilities for both fuels are evaluated in this report. General performance characteristics, fabrication abilities, technical aspects, safety aspects, economics, and non-proliferation aspects for each fuel type are reviewed and evaluated. And some technological problems are addressed in this report, focused on the development strategy, the roadmaps, and the flexibility to meet the missions and specific designs. This study has been performed at the first stage of conceptual design. Since it is under the lack of physical properties for each fuel material, no an attempt is made to select the best fuel option, but the more better fuel options are recommended

Immobilized low-level waste disposal options configuration study

International Nuclear Information System (INIS)

Mitchell, D.E.

1995-02-01

This report compiles information that supports the eventual conceptual and definitive design of a disposal facility for immobilized low-level waste. The report includes the results of a joint Westinghouse/Fluor Daniel Inc. evaluation of trade-offs for glass manufacturing and product (waste form) disposal. Though recommendations for the preferred manufacturing and disposal option for low-level waste are outside the scope of this document, relative ranking as applied to facility complexity, safety, remote operation concepts and ease of retrieval are addressed

Efficient option valuation of single and double barrier options

Science.gov (United States)

Kabaivanov, Stanimir; Milev, Mariyan; Koleva-Petkova, Dessislava; Vladev, Veselin

2017-12-01

In this paper we present an implementation of pricing algorithm for single and double barrier options using Mellin transformation with Maximum Entropy Inversion and its suitability for real-world applications. A detailed analysis of the applied algorithm is accompanied by implementation in C++ that is then compared to existing solutions in terms of efficiency and computational power. We then compare the applied method with existing closed-form solutions and well known methods of pricing barrier options that are based on finite differences.

Comparative assessment of electricity generation options for Mexico

International Nuclear Information System (INIS)

Cecilia, Martin Del Campo; Francois, Juan Luis

2009-01-01

This paper presents an approach to the evaluation of sustainability of energy options for the electricity generation in Mexico. The study evaluated technologies that could be planned in the short term because their high maturity. The purpose was to rank the energy options based on the evaluation of a set of criteria grouped in impact areas for each dimension of the sustainability: economic, environmental and social. Obviously, no single technology exhibited superior performance on the basis of all the criteria and it was necessary to apply a mult criteria decision analysis (MCDA). In total this study all the decision elements were combined and integrated in an inference fuzzy logic system that takes into account the weights of different indicators. The methodology was applied to compare five technologies based on wind, nuclear, natural gas, coal, hydro and oil resources under the current Mexican conditions. In view of the features of the energy options, oil and gas are subject to limited energy resources. Coal and oil show relatively unfavorable ecological and accident risk characteristics. Gas is by far the option with the best performance among the fossil fuel options. In the case of nuclear energy, the economic, environmental and health indicators are highly favorable, however, social indicators for nuclear energy are unfavorable but they are also very controversial and additional studies must be carried out. The global sustainability of hydro, nuclear, wind and natural gas resulted very close; so these energy options must be considered in the generation expansion planning studies to search the expansion plans with the better combination of generation, energetic diversification and emissions, between other criteria

A Pilot Study on Applying Risk Informed Application Option 2 to Six Systems in UCN 3

International Nuclear Information System (INIS)

Kim, Kil-Yoo; Yang, Joon-Eon; Lee, Young-Joo; Chung, Hye-Won

2007-01-01

To reduce the unnecessary burden of a regulation, NRC prepared three options for the risk informed regulatory framework known as Option 1, Option 2 and Option 3. In Option 2, all safety related Structure, System and Components (SSCs) and non-safety related SSCs are evaluated from a safety point of view, and the low safety significant SSCs belonging to the safety related group are called 'Risk Informed Safety Class (RISC) - 3' SSCs. The 'RISC-3' SSCs can be exempted from the special treatment requirements such as a seismic and environmental requirement, of 10 CFR 50. Two years ago, a paper was published which described the Option 2 method applied to the high pressure safety injection system (HPSI) and the essential service water system (ESW) of UCN 3. However, this paper describes the results when Option 2 is applied to the other 4 systems such as a low pressure safety injection system(LPSI), safety depressurization system(SDS), instrument air system(IAS), safety injection tank(SIT). First of all, this paper includes the results from the importance analysis in view of a Fire PSA and Level 2 PSA

Pawnee Nation Energy Option Analyses

Energy Technology Data Exchange (ETDEWEB)

Matlock, M.; Kersey, K.; Riding In, C.

2009-07-21

Pawnee Nation of Oklahoma Energy Option Analyses In 2003, the Pawnee Nation leadership identified the need for the tribe to comprehensively address its energy issues. During a strategic energy planning workshop a general framework was laid out and the Pawnee Nation Energy Task Force was created to work toward further development of the tribe’s energy vision. The overarching goals of the “first steps” project were to identify the most appropriate focus for its strategic energy initiatives going forward, and to provide information necessary to take the next steps in pursuit of the “best fit” energy options. Description of Activities Performed The research team reviewed existing data pertaining to the availability of biomass (focusing on woody biomass, agricultural biomass/bio-energy crops, and methane capture), solar, wind and hydropower resources on the Pawnee-owned lands. Using these data, combined with assumptions about costs and revenue streams, the research team performed preliminary feasibility assessments for each resource category. The research team also reviewed available funding resources and made recommendations to Pawnee Nation highlighting those resources with the greatest potential for financially-viable development, both in the near-term and over a longer time horizon. Findings and Recommendations Due to a lack of financial incentives for renewable energy, particularly at the state level, combined mediocre renewable energy resources, renewable energy development opportunities are limited for Pawnee Nation. However, near-term potential exists for development of solar hot water at the gym, and an exterior wood-fired boiler system at the tribe’s main administrative building. Pawnee Nation should also explore options for developing LFGTE resources in collaboration with the City of Pawnee. Significant potential may also exist for development of bio-energy resources within the next decade. Pawnee Nation representatives should closely monitor

2005 resource options report

International Nuclear Information System (INIS)

Morris, T.

2005-01-01

This resource options report (ROR) fulfils regulatory requirements in British Columbia's two-year resource planning process. It identifies a wide range of resources and technologies that could be used to meet BC Hydro's future electricity demand. As such, it facilitates a transparent public review of resource options which include both supply-side and demand-side options. The resource options that will be used in the 2005 integrated electricity plan (IEP) were characterized. This ROR also documents where there is a general agreement or disagreement on the resource type characterization, based on the First Nations and Stakeholder engagement. BC Hydro used current information to provide realistic ranges on volume and cost to characterize environmental and social attributes. The BC Hydro system was modelled to assess the benefit and cost of various resource options. The information resulting from this ROR and IEP will help in making decisions on how to structure competitive acquisition calls and to determine the level of transmission services needed to advance certain BC Hydro projects. The IEP forecasts the nature and quantity of domestic resources required over the next 20 years. A strategic direction on how those needs will be met has been created to guide the management of BC Hydro's energy resources. Supply-side options include near-commercial technologies such as energy storage, ocean waves, tidal, fuel cells and integrated coal gasification combined cycle technology. Supply-side options also include natural gas, coal, biomass, geothermal, wind, and hydro. 120 refs., 39 tabs., 21 figs., 6 appendices

Physiotherapists use a great variety of motor learning options in neurological rehabilitation, from which they choose through an iterative process: a retrospective think-aloud study.

Science.gov (United States)

Kleynen, Melanie; Moser, Albine; Haarsma, Frederike A; Beurskens, Anna J; Braun, Susy M

2017-08-01

The goal of this study was to examine which motor learning options are applied by experienced physiotherapists in neurological rehabilitation, and how they choose between the different options. A descriptive qualitative approach was used. A purposive sample of five expert physiotherapists from the neurological ward of a rehabilitation center participated. Data were collected using nine videotaped therapy situations. During retrospective think-aloud interviews, the physiotherapists were instructed to constantly "think aloud" while they were watching their own videos. Five "operators" were identified: "act", "know", "observe", "assess" and "argue". The "act" operator consisted of 34 motor learning options, which were clustered into "instruction", "feedback" and "organization". The "know", "observe", "assess" and "argue" operators explained how therapists chose one of these options. The four operators seem to be interrelated and together lead to a decision to apply a particular motor learning option. Results show that the participating physiotherapists used a great variety of motor learning options in their treatment sessions. Further, the decision-making process with regard to these motor learning options was identified. Results may support future intervention studies that match the content and process of therapy in daily practice. The study should be repeated with other physiotherapists. Implications for Rehabilitation The study provided insight into the way experienced therapist handle the great variety of possible motor learning options, including concrete ideas on how to operationalize these options in specific situations. Despite differences in patients' abilities, it seems that therapists use the same underlying clinical reasoning process when choosing a particular motor learning option. Participating physiotherapists used more than the in guidelines suggested motor learning options and considered more than the suggested factors, hence adding practice based

Probabilistic methods in exotic option pricing

NARCIS (Netherlands)

Anderluh, J.H.M.

2007-01-01

The thesis presents three ways of calculating the Parisian option price as an illustration of probabilistic methods in exotic option pricing. Moreover options on commidities are considered and double-sided barrier options in a compound Poisson framework.

Assessments of the extent to which health-care providers involve patients in decision making: a systematic review of studies using the OPTION instrument.

Science.gov (United States)

Couët, Nicolas; Desroches, Sophie; Robitaille, Hubert; Vaillancourt, Hugues; Leblanc, Annie; Turcotte, Stéphane; Elwyn, Glyn; Légaré, France

2015-08-01

We have no clear overview of the extent to which health-care providers involve patients in the decision-making process during consultations. The Observing Patient Involvement in Decision Making instrument (OPTION) was designed to assess this. To systematically review studies that used the OPTION instrument to observe the extent to which health-care providers involve patients in decision making across a range of clinical contexts, including different health professions and lengths of consultation. We conducted online literature searches in multiple databases (2001-12) and gathered further data through networking. (i) OPTION scores as reported outcomes and (ii) health-care providers and patients as study participants. For analysis, we only included studies using the revised scale. Extracted data included: (i) study and participant characteristics and (ii) OPTION outcomes (scores, statistical associations and reported psychometric results). We also assessed the quality of OPTION outcomes reporting. We found 33 eligible studies, 29 of which used the revised scale. Overall, we found low levels of patient-involving behaviours: in cases where no intervention was used to implement shared decision making (SDM), the mean OPTION score was 23 ± 14 (0-100 scale). When assessed, the variables most consistently associated with higher OPTION scores were interventions to implement SDM (n = 8/9) and duration of consultations (n = 8/15). Whatever the clinical context, few health-care providers consistently attempt to facilitate patient involvement, and even fewer adjust care to patient preferences. However, both SDM interventions and longer consultations could improve this. © 2013 John Wiley & Sons Ltd.

A Comparison of Retrievability: Celect versus Option Filter.

Science.gov (United States)

Ryu, Robert K; Desai, Kush; Karp, Jennifer; Gupta, Ramona; Evans, Alan Emerson; Rajeswaran, Shankar; Salem, Riad; Lewandowski, Robert J

2015-06-01

To compare the retrievability of 2 potentially retrievable inferior vena cava filter devices. A retrospective, institutional review board-approved study of Celect (Cook, Inc, Bloomington, Indiana) and Option (Rex Medical, Conshohocken, Pennsylvania) filters was conducted over a 33-month period at a single institution. Fluoroscopy time, significant filter tilt, use of adjunctive retrieval technique, and strut perforation in the inferior vena cava were recorded on retrieval. Fisher exact test and Mann-Whitney-Wilcoxon test were used for comparison. There were 99 Celect and 86 Option filters deployed. After an average of 2.09 months (range, 0.3-7.6 mo) and 1.94 months (range, 0.47-9.13 mo), respectively, 59% (n = 58) of patients with Celect filters and 74.7% (n = 65) of patients with Option filters presented for filter retrieval. Retrieval failure rates were 3.4% for Celect filters versus 7.7% for Option filters (P = .45). Median fluoroscopy retrieval times were 4.25 minutes for Celect filters versus 6 minutes for Option filters (P = .006). Adjunctive retrieval techniques were used in 5.4% of Celect filter retrievals versus 18.3% of Option filter retrievals (P = .045). The incidence of significant tilting was 8.9% for Celect filters versus 16.7% for Option filters (P = .27). The incidence of strut perforation was 43% for Celect filters versus 0% for Option filters (P Option filters were not significantly different. However, retrieval of the Option filter required a significantly increased amount of fluoroscopy time compared with the Celect filter, and there was a significantly greater usage of adjunctive retrieval techniques for the Option filter. The Celect filter had a significantly higher rate of strut perforation. Copyright © 2015 SIR. Published by Elsevier Inc. All rights reserved.

The Factor Structure in Equity Options

DEFF Research Database (Denmark)

Christoffersen, Peter; Fournier, Mathieu; Jacobs, Kris

Principal component analysis of equity options on Dow-Jones firms reveals a strong factor structure. The first principal component explains 77% of the variation in the equity volatility level, 77% of the variation in the equity option skew, and 60% of the implied volatility term structure across...... equities. Furthermore, the first principal component has a 92% correlation with S&P500 index option volatility, a 64% correlation with the index option skew, and a 80% correlation with the index option term structure. We develop an equity option valuation model that captures this factor structure...

The information content of options

OpenAIRE

Navon, Yonatan

2017-01-01

The objective of this thesis is to examine the information content of stock options in financial markets. A key question in financial economics is how information diffuses across markets and how quickly it is reflected in security prices. This thesis aims at exploring this question by investigating the informational role that options play in financial markets. This is achieved by exploring the joint cross section of option and bond prices, the informational role of options in seasoned equity ...

Depleted uranium disposal options evaluation

International Nuclear Information System (INIS)

Hertzler, T.J.; Nishimoto, D.D.; Otis, M.D.

1994-05-01

The Department of Energy (DOE), Office of Environmental Restoration and Waste Management, has chartered a study to evaluate alternative management strategies for depleted uranium (DU) currently stored throughout the DOE complex. Historically, DU has been maintained as a strategic resource because of uses for DU metal and potential uses for further enrichment or for uranium oxide as breeder reactor blanket fuel. This study has focused on evaluating the disposal options for DU if it were considered a waste. This report is in no way declaring these DU reserves a ''waste,'' but is intended to provide baseline data for comparison with other management options for use of DU. To PICS considered in this report include: Retrievable disposal; permanent disposal; health hazards; radiation toxicity and chemical toxicity

Real options and volume uncertainty by field development projects

International Nuclear Information System (INIS)

Ekern, S.; Stensland, G.

1993-12-01

The report concerns a study on the use of option methodology in field development projects. The report shows how the value of flexibility in the different decision processes is to be found by means of real option methodology. Particular attention is laid on the uncertainty concerning the volume of reserves and production capacity. The results from the study were based on the research project dubbed ''Use of real options in field development projects''. The project is partially connected to another project dubbed ''Decisive behaviour and alternative action under uncertainty in the petroleum sector''. Main topics cover as follow: Example with volume uncertainty; real options and volume uncertainty; gradual disclosure of uncertainty in the production; value of flexible production equipment. 33 refs., 19 figs., 17 tabs

Stock Option Compensation and Managerial Turnover

OpenAIRE

Raluca Georgiana NASTASESCU

2009-01-01

This study examines the association between managerial turnover and equity-based compensation. I investigate whether stock options act to bond executives to their firms and whether retention of managers is a motivation of companies in designing CEO incentive contracts. The results show that stock options do negatively influence the probability of a CEO leaving the company. The monetary cost of losing the value of equity-based compensation package keeps the manager with his company. I also fin...

Deep UV to NIR Space Telescopes and Exoplanet Coronagraphs: A Trade Study on Throughput, Polarization, Mirror Coating Options and Requirements

Science.gov (United States)

Balasubramanian, Kunjithapatham; Shaklan, Stuart; Give'on, Amir; Cady, Eric; Marchen, Luis

2011-01-01

The NASA Exoplanet program and the Cosmic Origins program are exploring technical options to combine the visible to NIR performance requirements of a space coronagraph with the general astrophysics requirements of a space telescope covering the deep UV spectrum. Are there compatible options in terms of mirror coatings and telescope architecture to satisfy both goals? In this paper, we address some of the main concerns, particularly relating to polarization in the visible and throughput in the UV. Telescope architectures employing different coating options compatible with current technology are considered in this trade study.

Pricing perpetual American options under multiscale stochastic elasticity of variance

International Nuclear Information System (INIS)

Yoon, Ji-Hun

2015-01-01

Highlights: • We study the effects of the stochastic elasticity of variance on perpetual American option. • Our SEV model consists of a fast mean-reverting factor and a slow mean-revering factor. • A slow scale factor has a very significant impact on the option price. • We analyze option price structures through the market prices of elasticity risk. - Abstract: This paper studies pricing the perpetual American options under a constant elasticity of variance type of underlying asset price model where the constant elasticity is replaced by a fast mean-reverting Ornstein–Ulenbeck process and a slowly varying diffusion process. By using a multiscale asymptotic analysis, we find the impact of the stochastic elasticity of variance on the option prices and the optimal exercise prices with respect to model parameters. Our results enhance the existing option price structures in view of flexibility and applicability through the market prices of elasticity risk

Private or Public Law Enforcement? The Case of Digital Piracy Policies with Non-monitored Illegal Behaviors

OpenAIRE

Éric Darmon; Thomas Le Texier

2014-01-01

In the case of digital piracy should rights be publicly or privately enforced? The emergence of large-scale anti-piracy laws and the existence of non-monitored illegal channels raise important issues for the design of digital anti-piracy policies. In this paper, we study the impact of these two enforcement settings (public vs. private) in the presence of an illegal non-monitored outside option for users. Taking account of market outcomes, we show that in both cases, the optimal strategies of ...

48 CFR 17.107 - Options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Options. 17.107 Section 17... CONTRACT TYPES SPECIAL CONTRACTING METHODS Multiyear Contracting 17.107 Options. Benefits may accrue by including options in a multiyear contract. In that event, contracting officers must follow the requirements...

Stock option repricing in Europe

NARCIS (Netherlands)

Sauer, M.; Sautner, Z.

2008-01-01

This paper investigates the link between option repricing, firm performance and corporate governance in Europe. Our sample consists of 77 European firms that repriced their stock option between 1987 and 2003. We document that option repricing is mainly a phenomenon for young and fast growing firms

48 CFR 2917.207 - Exercising options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Exercising options. 2917... AND CONTRACT TYPES SPECIAL CONTRACTING METHODS Options 2917.207 Exercising options. The contracting officer must use a standardized determination and finding before exercising an option in accordance with...

Repowering options for steam power plants

International Nuclear Information System (INIS)

Wen, H.; Gopalarathinam, R.

1992-01-01

Repowering an existing steam power plant with a gas turbine offers an attractive alternative to a new plant or life extension, especially for unit sizes smaller than 300 MWe. Gas turbine repowering improves thermal efficiency and substantially increases the plant output. Based on recent repowering studies and projects, this paper examines gas turbine repowering options for 100 MWe, 200 MWe and 300 MWe units originally designed for coal firing and currently firing either coal or natural gas. Also discussed is the option for a phased future conversion of the repowered unit to fire coal-derived gas, should there be a fluctuation in the price or availability of natural gas. A modular coal gasification plant designed to shorten the conversion time is presented. Repowering options, performance, costs, and availability impacts are discussed for selected cases

38 CFR 6.10 - Options.

Science.gov (United States)

2010-07-01

... 38 Pensions, Bonuses, and Veterans' Relief 1 2010-07-01 2010-07-01 false Options. 6.10 Section 6.10 Pensions, Bonuses, and Veterans' Relief DEPARTMENT OF VETERANS AFFAIRS UNITED STATES GOVERNMENT LIFE INSURANCE Optional Settlement § 6.10 Options. Insurance will be payable in one sum only when...

Perpetual Cancellable American Call Option

OpenAIRE

Emmerling, Thomas J.

2010-01-01

This paper examines the valuation of a generalized American-style option known as a Game-style call option in an infinite time horizon setting. The specifications of this contract allow the writer to terminate the call option at any point in time for a fixed penalty amount paid directly to the holder. Valuation of a perpetual Game-style put option was addressed by Kyprianou (2004) in a Black-Scholes setting on a non-dividend paying asset. Here, we undertake a similar analysis for the perpetua...

Volatility Informed Trading in the Options Market: Evidence from India

Directory of Open Access Journals (Sweden)

Rajesh Pathak

2015-12-01

Full Text Available The purpose of this paper is to investigate the trading activity in options market based on information about expected future volatility in spot market. We employ Common Implied Volatility as a measure of expected volatility and options volume and changes in Open Interests as measures of options trading activity. We first test for simultaneous information flow in the two markets using multiple regression technique. Next, we test for information based or hedge based use of options using Trivariate Vector-auto Regression framework. We further consider the classes of options moneyness and the market trends in our analysis to examine if the trader’s preference of options changes with change in description of options intrinsic value and market environment. We use daily closing data of S&P CNX Nifty Index options traded on National Stock Exchange, India. We, for the most part, find negative and significant relationship in contemporaneous regression suggesting active trading by arbitrageurs. A feedback relationship is observed in vector auto regression analysis suggesting that options are traded in India for both information based trading and hedging purposes. We also observe the relationship to be varying when market trends and classes of options moneyness are considered. This indicates that traders are not indifferent in their choice of trading venue when market conditions and factors change. The results of this study are helpful for traders in managing the risk and return of their portfolio based on volatility forecast. This study is distinctive as it examines the scarcely researched area of volatility informed trading in an emerging market set up.

Studies of beam position monitor stability

International Nuclear Information System (INIS)

Tenenbaum, P.

1998-05-01

The authors present the result s from two studies of the time stability between the mechanical center of a beam position monitor and its electrical/electronic center. In the first study, a group of 93 BPM processors was calibrated via Test Pulse Generator once per hour in order to measure the contribution of the readout electronics to offset drifts. In the second study, a triplet of stripline BPMs in the Final Focus Test Beam, separated only by drift spaces, was read out every 6 minutes during 1 week of beam operation. In both cases offset stability was observed to be on the order of microns over time spans ranging from hours to days, although during the beam study much worse performance was also observed. Implications for the beam position monitor system of future linear collider systems are discussed

Options for rural electrification in Mexico

International Nuclear Information System (INIS)

Vera, J.G.

1992-01-01

This paper summarizes a study which examined 19 commercially available options for electrifying remote communities in Mexico. Characteristics of a typical community are defined and, using 7 of the technologies, power systems are designed capable of supporting this community. The performance of these systems is evaluated with respect to their ability to satisfy 11 technical design objectives, 5 socioeconomic objectives, and their impact on the environment. A photovoltaic- diesel generator hybrid system with wind generator option is recommended for the typical community

48 CFR 317.107 - Options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Options. 317.107 Section... CONTRACT TYPES SPECIAL CONTRACTING METHODS Multi-year Contracting 317.107 Options. When used as part of a multi-year contract, options shall not be used to extend the performance of the original requirement for...

38 CFR 8.25 - Options.

Science.gov (United States)

2010-07-01

... 38 Pensions, Bonuses, and Veterans' Relief 1 2010-07-01 2010-07-01 false Options. 8.25 Section 8.25 Pensions, Bonuses, and Veterans' Relief DEPARTMENT OF VETERANS AFFAIRS NATIONAL SERVICE LIFE INSURANCE Optional Settlements § 8.25 Options. Insurance will be paid in a lump sum only when selected by...

Bounds for Asian basket options

Science.gov (United States)

Deelstra, Griselda; Diallo, Ibrahima; Vanmaele, Michèle

2008-09-01

In this paper we propose pricing bounds for European-style discrete arithmetic Asian basket options in a Black and Scholes framework. We start from methods used for basket options and Asian options. First, we use the general approach for deriving upper and lower bounds for stop-loss premia of sums of non-independent random variables as in Kaas et al. [Upper and lower bounds for sums of random variables, Insurance Math. Econom. 27 (2000) 151-168] or Dhaene et al. [The concept of comonotonicity in actuarial science and finance: theory, Insurance Math. Econom. 31(1) (2002) 3-33]. We generalize the methods in Deelstra et al. [Pricing of arithmetic basket options by conditioning, Insurance Math. Econom. 34 (2004) 55-57] and Vanmaele et al. [Bounds for the price of discrete sampled arithmetic Asian options, J. Comput. Appl. Math. 185(1) (2006) 51-90]. Afterwards we show how to derive an analytical closed-form expression for a lower bound in the non-comonotonic case. Finally, we derive upper bounds for Asian basket options by applying techniques as in Thompson [Fast narrow bounds on the value of Asian options, Working Paper, University of Cambridge, 1999] and Lord [Partially exact and bounded approximations for arithmetic Asian options, J. Comput. Finance 10 (2) (2006) 1-52]. Numerical results are included and on the basis of our numerical tests, we explain which method we recommend depending on moneyness and time-to-maturity.

Breast Cancer: Treatment Options

Science.gov (United States)

... Breast Cancer > Breast Cancer: Treatment Options Request Permissions Breast Cancer: Treatment Options Approved by the Cancer.Net Editorial ... can be addressed as quickly as possible. Recurrent breast cancer If the cancer does return after treatment for ...

24 CFR 206.19 - Payment options.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Payment options. 206.19 Section 206... CONVERSION MORTGAGE INSURANCE Eligibility; Endorsement Eligible Mortgages § 206.19 Payment options. (a) Term payment option. Under the term payment option, equal monthly payments are made by the mortgagee to the...

Burnable poison option for DUPIC fuel

International Nuclear Information System (INIS)

Choi, Hang Bok; Cupta, H. P.

1996-08-01

The mechanisms of positive coolant void reactivity of CANDU natural uranium and DUPIC fuel have been studied. The design study of DUPIC fuel was performed using the burnable poison material in the center pin to reduce the coolant void reactivity. The amount of burnable poison was determined such that the prompt inverse period of DUPIC fuel upon full coolant voiding is the same as that of natural uranium fuel at equilibrium burnup. A parametric study on various burnable poisons has shown that natural dysprosium has more merit over other materials because it uniformly controls the void reactivity throughout the burnup with reasonable amount of poison. Additional studies on the option of using scattering or absorber material in the center pin position and the option using variable fuel density were performed. In any case of option using variable fuel density were performed. In any case of options to reduce the void reactivity, it was found that either the discharge burnup and/or the relative linear pin power are sacrificed. A preliminary study was performed for the evaluation of reference DUPIC fuel performance especially represented by Stress Corrosion Cracking(SCC) parameters which is mainly influenced by the refueling operations. For the reference 2-bundle shift refueling scheme, the predicted ramped power and power increment of the reference DUPIC fuel are below the SCC thresholds of CANDU natural uranium fuel. For a 4-bundle shift refueling scheme, the envelopes of element ramped power and power increment upon refueling are 8% and 44% higher than those of a 2-bundle shift refueling scheme on the average, respectively, but still have margins to the failure thresholds of natural uranium fuel. 23 tabs., 25 figs., 20 refs. (Author)

Mouse-tracking evidence for parallel anticipatory option evaluation.

Science.gov (United States)

Cranford, Edward A; Moss, Jarrod

2017-12-23

In fast-paced, dynamic tasks, the ability to anticipate the future outcome of a sequence of events is crucial to quickly selecting an appropriate course of action among multiple alternative options. There are two classes of theories that describe how anticipation occurs. Serial theories assume options are generated and evaluated one at a time, in order of quality, whereas parallel theories assume simultaneous generation and evaluation. The present research examined the option evaluation process during a task designed to be analogous to prior anticipation tasks, but within the domain of narrative text comprehension. Prior research has relied on indirect, off-line measurement of the option evaluation process during anticipation tasks. Because the movement of the hand can provide a window into underlying cognitive processes, online metrics such as continuous mouse tracking provide more fine-grained measurements of cognitive processing as it occurs in real time. In this study, participants listened to three-sentence stories and predicted the protagonists' final action by moving a mouse toward one of three possible options. Each story was presented with either one (control condition) or two (distractor condition) plausible ending options. Results seem most consistent with a parallel option evaluation process because initial mouse trajectories deviated further from the best option in the distractor condition compared to the control condition. It is difficult to completely rule out all possible serial processing accounts, although the results do place constraints on the time frame in which a serial processing explanation must operate.

Traditional preventive treatment options

DEFF Research Database (Denmark)

Longbottom, C; Ekstrand, K; Zero, D

2009-01-01

Preventive treatment options can be divided into primary, secondary and tertiary prevention techniques, which can involve patient- or professionally applied methods. These include: oral hygiene (instruction), pit and fissure sealants ('temporary' or 'permanent'), fluoride applications (patient...... options....

24 CFR 35.120 - Options.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Options. 35.120 Section 35.120... and Definitions for All Programs. § 35.120 Options. (a) Standard treatments. Where interim controls are required by this part, the designated party has the option to presume that lead-based paint or...

Option Pricing and Momentum

NARCIS (Netherlands)

Rodriguez, J.C.

2007-01-01

If managers are reluctant to fully adjust dividends to changes in earnings, stock returns and changes in the dividend yield will tend to be negatively correlated. When this is the case, stock returns will exhibit positive autocorrelation, or mo- mentum. This paper studies the pricing of options in

FTR-option formulation and pricing

International Nuclear Information System (INIS)

Parmeshwaran, Vijay; Muthuraman, Kumar

2009-01-01

Recent changes in electricity markets have advocated the use of Local Marginal Prices (LMP) for congestion management and pricing. From the perspective of market participants, the LMPs pose a risk since they are not known before a transaction on the grid is made. Financial transmission rights (FTR) are instruments that help market participants hedge this risk and are issuable in two flavors - obligations and options. While pricing obligations are much easier, pricing FTR options pose a significant challenge. In this paper we develop a computational method for pricing FTR options. We also discuss the problem of designing financial instrument sets that assure revenue adequacy for the issuer. We point out the difficulty in assuring revenue adequacy when FTR options are present and propose a scheme for overcoming the difficulty. The proposed pricing method can be used to compute prices of options and obligations in the primary market or as a reliable pricing tool to compute option prices in the secondary market. Finally using a test network we present and discuss numerical results. (author)

Pre-eclampsia Diagnosis and Treatment Options: A Review of Published Economic Assessments.

Science.gov (United States)

Zakiyah, Neily; Postma, Maarten J; Baker, Philip N; van Asselt, Antoinette D I

2015-10-01

Pre-eclampsia is a pregnancy complication affecting both mother and fetus. Although there is no proven effective method to prevent pre-eclampsia, early identification of women at risk of pre-eclampsia could enhance appropriate application of antenatal care, management and treatment. Very little is known about the cost effectiveness of these and other tests for pre-eclampsia, mainly because there is no clear treatment path. The aim of this study was to provide a comprehensive overview of the existing evidence on the health economics of screening, diagnosis and treatment options in pre-eclampsia. We searched three electronic databases (PubMed, EMBASE and the Cochrane Library) for studies on screening, diagnosis, treatment or prevention of pre-eclampsia, published between 1994 and 2014. Only full papers written in English containing complete economic assessments in pre-eclampsia were included. From an initial total of 138 references, six papers fulfilled the inclusion criteria. Three studies were on the cost effectiveness of treatment of pre-eclampsia, two of which evaluated magnesium sulphate for prevention of seizures and the third evaluated the cost effectiveness of induction of labour versus expectant monitoring. The other three studies were aimed at screening and diagnosis, in combination with subsequent preventive measures. The two studies on magnesium sulphate were equivocal on the cost effectiveness in non-severe cases, and the other study suggested that induction of labour in term pre-eclampsia was more cost effective than expectant monitoring. The screening studies were quite diverse in their objectives as well as in their conclusions. One study concluded that screening is probably not worthwhile, while two other studies stated that in certain scenarios it may be cost effective to screen all pregnant women and prophylactically treat those who are found to be at high risk of developing pre-eclampsia. This study is the first to provide a comprehensive overview

A qualitative assessment of climate adaptation options and some estimates of adaptation costs

International Nuclear Information System (INIS)

Van Ierland, E.C.; De Bruin, K.; Dellink, R.B.; Ruijs, A.

2007-02-01

The Routeplanner project aims to provide a 'systematic assessment' of potential adaptation options to respond to climate change in the Netherlands in connection to spatial planning. The study is the result of a policy oriented project that took place between May and September 2006. The aim of the current study is to provide a 'qualitative assessment' of the direct and indirect effects of adaptation options and to provide an assessment of some of the costs and benefits of adaptation options. The present report presents and summarizes the results of all phases of the study: an inventory of adaptation options, a qualitative assessment of the effects of the adaptation options for the Netherlands in the long run, a database which allows to rank the various options according to a set of criteria and a relative ranking on the basis of these criteria. Finally, the report also contains the best available information on costs and benefits of various adaptation options. However, while conducting the study the project team observed that reliable information in this respect is in many cases still lacking and an urgent need exists for more detailed studies on costs and benefits of adaptation options and the design of the best options to cope with climate change

Valuing real options: frequently made errors

OpenAIRE

Fernández, Pablo

2002-01-01

In this paper we analyze frequently made errors when valuing real options. The best way of doing it is through examples. We start by analyzing Damodaran's proposal to value the option to expand the business of Home Depot. Some of the errors and problems of this and other approaches are: - Assuming that the option is replicable and using Black and Scholes' formula. - The estimation of the option's volatility is arbitrary and has a decisive effect on the option's value. - As there is no riskles...

A Text Messaging Intervention to Support Option B+ in Kenya: A Qualitative Study.

Science.gov (United States)

Musoke, Pamela; Gakumo, C Ann; Abuogi, Lisa L; Akama, Eliud; Bukusi, Elizabeth; Helova, Anna; Nalwa, Wafula Z; Onono, Mariciannah; Spangler, Sydney A; Wanga, Iris; Turan, Janet M

Key challenges in providing lifelong antiretroviral therapy (ART) to pregnant and breastfeeding women (Option B+) in sub-Saharan Africa include achieving long-term adherence and retention in care. One intervention that may help address these challenges is mobile text messaging. We evaluated the acceptability of a text messaging intervention to support women's ART adherence and retention in care in rural western Kenya. Forty in-depth interviews with 20 pregnant/postpartum women infected with HIV, their male partners, and four focus groups with 30 health care providers were conducted during September-November 2014. Data were coded and analyzed using thematic analysis. Findings revealed the following themes: (a) overall acceptability of the text messaging intervention; (b) proposed content of text messages; (c) format, timing, and language of text messages; and (d) potential challenges of the text messaging intervention. Findings were used to refine a text messaging intervention being evaluated at Kenyan study sites rolling out Option B+. Copyright © 2017 Association of Nurses in AIDS Care. Published by Elsevier Inc. All rights reserved.

Propulsion Health Monitoring of a Turbine Engine Disk using Spin Test Data

Data.gov (United States)

National Aeronautics and Space Administration — On line detection techniques to monitor the health of rotating engine components are becoming increasingly attractive options to aircraft engine companies in order...

26 CFR 1.544-4 - Options.

Science.gov (United States)

2010-04-01

... 26 Internal Revenue 7 2010-04-01 2010-04-01 true Options. 1.544-4 Section 1.544-4 Internal Revenue... (CONTINUED) Personal Holding Companies § 1.544-4 Options. The shares of stock which may be acquired by reason of an option shall be considered to be constructively owned by the individual having the option to...

Illiquidity Premia in the Equity Options Market

DEFF Research Database (Denmark)

Christoffersen, Peter; Goyenko, Ruslan; Jacobs, Kris

Illiquidity is well-known to be a significant determinant of stock and bond returns. We report on illiquidity premia in the equity options market. An increase in option illiquidity decreases the current option price and implies higher expected option returns. This effect is statistically and econ......Illiquidity is well-known to be a significant determinant of stock and bond returns. We report on illiquidity premia in the equity options market. An increase in option illiquidity decreases the current option price and implies higher expected option returns. This effect is statistically...... and economically signifi…cant. It is robust across different empirical approaches and when including various control variables. The illiquidity of the underlying stock affects the option return negatively, consistent with a hedging argument: When stock market illiquidity increases, the cost of replicating...

Safety options for the 1300 MWe program

International Nuclear Information System (INIS)

Cayol, A.; Dupuis, M.C.; Fourest, B.; Oury, J.M.

1980-04-01

Standardization of the nuclear plants built in France implies an examination of the main technical safety options to be taken for a given type of reactor. By this procedure the subjects for which detailed studies will be needed to confirm the decisions made for the project can be defined in advance. In this context the technical safety option analysis for the 1300 MWe plants was conducted from the end of 1975 to the middle of 1978 according to usual regulation examination practice. The main conclusions are presented on the following subjects: safety methods; technical options concerning the containment vessel, primary fluid activity, fuel elements, steam generators; general organization of the lay-out [fr

Default options in the ICU: widely used but insufficiently understood

Science.gov (United States)

Hart, Joanna; Halpern, Scott D.

2015-01-01

Purpose of review Default options dramatically influence the behavior of decision makers and may serve as effective decision support tools in the ICU. Their use in medicine has increased in an effort to improve efficiency, reduce errors, and harness the potential of healthcare technology. Recent findings Defaults often fall short of their predicted influence when employed in critical care settings as quality improvement interventions. Investigations reporting the use of defaults are often limited by variations in the relative effect across sites. Preimplementation experiments and long-term monitoring studies are lacking. Summary Defaults in the ICU may help or harm patients and clinical efficiency depending on their format and use. When constructing and encountering defaults, providers should be aware of their powerful and complex influences on decision making. Additional evaluations of the appropriate creation of healthcare defaults and their resulting intended and unintended consequences are needed. PMID:25203352

45 CFR 1306.34 - Combination program option.

Science.gov (United States)

2010-10-01

... 45 Public Welfare 4 2010-10-01 2010-10-01 false Combination program option. 1306.34 Section 1306... START PROGRAM HEAD START STAFFING REQUIREMENTS AND PROGRAM OPTIONS Head Start Program Options § 1306.34 Combination program option. (a) Combination program option requirements: (1) Grantees implementing a...

Euro Membership as a Real Option Trigger

DEFF Research Database (Denmark)

Aabo, Tom; Pantzalis, Christos

2007-01-01

-adopters (UK, Sweden, and Denmark) to exercise various forms of real options such as to establish alliances / partnerships, to enter new markets / market segments, to switch suppliers, and to generally expand in the Euro-area. The study furthermore shows that small, profitable and financially constrained firms...... are particularly likely to exercise such real options triggered by the introduction of the Euro. The results go beyond the immediate trade effects, which empirical studies have shown to be weak and without trade diversion as to the three non-adopters, and provide important insights about the potential long...

Remote monitoring of forest insect defoliation. A review

Energy Technology Data Exchange (ETDEWEB)

Rullan-Silva, C. D.; Olthoff, A. E.; Delgado de la Mata, J. A.; Pajares-Alonso, J. A.

2013-07-01

Aim of study: This paper reviews the global research during the last 6 years (2007-2012) on the state, trends and potential of remote sensing for detecting, mapping and monitoring forest defoliation caused by insects. Area of study: The review covers research carried out within different countries in Europe and America. Main results: A nation or region wide monitoring system should be scaled in two levels, one using time-series with moderate to coarse resolutions, and the other with fine or high resolution. Thus, MODIS data is increasingly used for early warning detection, whereas Landsat data is predominant in defoliation damage research. Furthermore, ALS data currently stands as the more promising option for operative detection of defoliation. Vegetation indices based on infrared-medium/near-infrared ratios and on moisture content indicators are of great potential for mapping insect pest defoliation, although NDVI is the most widely used and tested. Research highlights: Among most promising methods for insect defoliation monitoring are Spectral Mixture Analysis, best suited for detection due to its sub-pixel recognition enhancing multispectral data, and use of logistic models as function of vegetation index change between two dates, recommended for predicting defoliation. (Author)

Reversible deep storage: reversibility options for storage in deep geological formations

International Nuclear Information System (INIS)

2009-01-01

This report describes the definition approach to reversibility conditions, presents the main characteristics of high-activity and intermediate-activity long-lived wastes, describes the storage in deep geological formations (safety functions, general description of the storage centre), discusses the design options for the different types of wastes (container, storage module, handling processes, phenomenological analysis, monitoring arrangements) and the decision process in support reversibility (steering of the storage process, progressive development and step-by-step closing), and reports and discusses the researches concerning the memory of the storage site

48 CFR 517.207 - Exercise of options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Exercise of options. 517... METHODS AND CONTRACT TYPES SPECIAL CONTRACTING METHODS Options 517.207 Exercise of options. Before exercising an option, you must: (a) Synopsize it unless you meet of the following conditions: (1) The option...

24 CFR 982.625 - Homeownership option: General.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Homeownership option: General. 982... Types Homeownership Option § 982.625 Homeownership option: General. (a) The homeownership option is used... family assisted under the homeownership option may be a newly admitted or existing participant in the...

Biowaste home composting: experimental process monitoring and quality control.

Science.gov (United States)

Tatàno, Fabio; Pagliaro, Giacomo; Di Giovanni, Paolo; Floriani, Enrico; Mangani, Filippo

2015-04-01

Because home composting is a prevention option in managing biowaste at local levels, the objective of the present study was to contribute to the knowledge of the process evolution and compost quality that can be expected and obtained, respectively, in this decentralized option. In this study, organized as the research portion of a provincial project on home composting in the territory of Pesaro-Urbino (Central Italy), four experimental composters were first initiated and temporally monitored. Second, two small sub-sets of selected provincial composters (directly operated by households involved in the project) underwent quality control on their compost products at two different temporal steps. The monitored experimental composters showed overall decreasing profiles versus composting time for moisture, organic carbon, and C/N, as well as overall increasing profiles for electrical conductivity and total nitrogen, which represented qualitative indications of progress in the process. Comparative evaluations of the monitored experimental composters also suggested some interactions in home composting, i.e., high C/N ratios limiting organic matter decomposition rates and final humification levels; high moisture contents restricting the internal temperature regime; nearly horizontal phosphorus and potassium evolutions contributing to limit the rates of increase in electrical conductivity; and prolonged biowaste additions contributing to limit the rate of decrease in moisture. The measures of parametric data variability in the two sub-sets of controlled provincial composters showed decreased variability in moisture, organic carbon, and C/N from the seventh to fifteenth month of home composting, as well as increased variability in electrical conductivity, total nitrogen, and humification rate, which could be considered compatible with the respective nature of decreasing and increasing parameters during composting. The modeled parametric kinetics in the monitored experimental

Options for rural electrification in Arua District, Uganda

International Nuclear Information System (INIS)

Onzia, Joseph; Núñez Bosch, Osvaldo Manuel

2015-01-01

This study proposed a power generation system suitable for rural area application. The electrification options were proposed for secondary schools, health centres, households and trading centre loads using solar PV system, diesel fired generators, biogas co-fired diesel generators and grid extension. The study is based on simulation, modeling and optimization of renewable energy system. Designs for the options considered were based on the electricity demand and environmental conditions of Arua district. From the designs, capital costs for each option were determined. This was used in carrying out simulations in HOMER computer program to come up with the most cost effective options. Sensitivity analysis was carried out to determine the effects of variation in costs such as diesel price and capital cost of solar PV system.Based on simulation results, it has been found that the trading centre, with 500 kW of electrical demand, must be electrified using the grid extension. The breakeven grid distance is 75.1 km. Grid extension become cost effective compared to diesel generators and solar PV system within this distance. The load at household level ranges from as low as 16 W to 5 kW. For 103 W peak load, the most cost effective option was solar PV system. The second best option was biogas co-fired diesel generator. For schools and health centres with load of up to 15 kW, biogas co-fired generator is the best compared to the total cost of 18 kW diesel fired generator which is higher. Therefore, where biogas cannot be generated, diesel generators should be used. Based on the amount of pollutants produced, a biogas co-fired diesel generator is the best option. (full text)

Patients' views on the use of an Option Grid for knee osteoarthritis in physiotherapy clinical encounters: An interview study.

Science.gov (United States)

Kinsey, Katharine; Firth, Jill; Elwyn, Glyn; Edwards, Adrian; Brain, Katherine; Marrin, Katy; Nye, Alan; Wood, Fiona

2017-12-01

Patient decision support tools have been developed as a means of providing accurate and accessible information in order for patients to make informed decisions about their care. Option Grids ™ are a type of decision support tool specifically designed to be used during clinical encounters. To explore patients' views of the Option Grid encounter tool used in clinical consultations with physiotherapists, in comparison with usual care, within a patient population who are likely to be disadvantaged by age and low health literacy. Semi-structured interviews with 72 patients (36 who had been given an Option Grid in their consultation and 36 who had not). Thematic analysis explored patients' understanding of treatment options, perceptions of involvement, and readability and utility of the Option Grid. Interviews suggested that the Option Grid facilitated more detailed discussion about the risks and benefits of a wider range of treatment options for osteoarthritis of the knee. Participants indicated that the Option Grid was clear and aided their understanding of a structured progression of the options as their condition advanced, although it was not clear whether the Option Grid facilitated greater engagement in shared decision making. The Option Grid for osteoarthritis of the knee was well received by patient participants who reported that it helped them to understand their options, and made the notion of choice explicit. Use of Option Grids should be considered within routine consultations. © 2017 The Authors Health Expectations Published by John Wiley & Sons Ltd.

Prospect theory: An application to European option pricing

OpenAIRE

Martina Nardon; Paolo Pianca

2012-01-01

Empirical studies on quoted options highlight deviations from the theoretical model of Black and Scholes; this is due to different causes, such as assumptions regarding the price dynamics, markets frictions and investors' attitude toward risk. In this contribution, we focus on this latter issue and study how to value European options within the continuous cumulative prospect theory. According to prospect theory, individuals do not always take their decisions consistently with the maximization...

A numerical approach to the study of the perpetual case of Ameripean options

Science.gov (United States)

Kandilarov, J.

2013-12-01

A new numerical method for solving the perpetual case of Ameripean options is proposed. The Ameripean delayed exercise model analyzes a new class of option model with American and ParAsian features. The model is mathematically described by ultraparabolic and parabolic PDE's which are valid over different regions. The perpetual case leads to the parabolic-elliptic two-phase Stefan problem with free internal boundary. To deal with the obtained nonlinear problem an iterative numerical method is proposed. Numerical analysis are presented and discussed.

Benzene Monitor System report

International Nuclear Information System (INIS)

Livingston, R.R.

1992-01-01

Two systems for monitoring benzene in aqueous streams have been designed and assembled by the Savannah River Technology Center, Analytical Development Section (ADS). These systems were used at TNX to support sampling studies of the full-scale open-quotes SRAT/SME/PRclose quotes and to provide real-time measurements of benzene in Precipitate Hydrolysis Aqueous (PHA) simulant. This report describes the two ADS Benzene Monitor System (BMS) configurations, provides data on system operation, and reviews the results of scoping tests conducted at TNX. These scoping tests will allow comparison with other benzene measurement options being considered for use in the Defense Waste Processing Facility (DWPF) laboratory. A report detailing the preferred BMS configuration statistical performance during recent tests has been issued under separate title: Statistical Analyses of the At-line Benzene Monitor Study, SCS-ASG-92-066. The current BMS design, called the At-line Benzene Monitor (ALBM), allows remote measurement of benzene in PHA solutions. The authors have demonstrated the ability to calibrate and operate this system using peanut vials from a standard Hydragard trademark sampler. The equipment and materials used to construct the ALBM are similar to those already used in other applications by the DWPF lab. The precision of this system (±0.5% Relative Standard Deviation (RSD) at 1 sigma) is better than the purge ampersand trap-gas chromatograpy reference method currently in use. Both BMSs provide a direct measurement of the benzene that can be purged from a solution with no sample pretreatment. Each analysis requires about five minutes per sample, and the system operation requires no special skills or training. The analyzer's computer software can be tailored to provide desired outputs. Use of this system produces no waste stream other than the samples themselves (i.e. no organic extractants)

Spent Nuclear Fuel Option Study on Hybrid Reactor for Waste Transmutation

International Nuclear Information System (INIS)

Hong, Seong Hee; Kim, Myung Hyun

2016-01-01

DUPIC nuclear fuel can be used in hybrid reactor by compensation of subcritical level through (U-10Zr) fuel. Energy production performance of Hyb-WT with DUPIC is grateful because it has high EM factor and performs waste transmutation at the same time. However, waste transmutation performance should be improved by different fissile fuel instead of (U-10Zr) fuel. SNF (Spent Nuclear Fuel) disposal is one of the problems in the nuclear industry. FFHR (Fusion-Fission Hybrid Reactor) is one of the most attractive option on reuse of SNF as a waste transmutation system. Because subcritical system like FFHR has some advantages compared to critical system. Subcritical systems have higher safety potential than critical system. Also, there is suppressed excess reactivity at BOC (Beginning of Cycle) in critical system, on the other hand there is no suppressed reactivity in subcritical system. Our research team could have designed FFHR for waste transmutation; Hyb-WT. Various researches have been conducted on fuel and coolant option for optimization of transmutation performance. However, Hyb-WT has technical disadvantage. It is required fusion power (Pfus) which is the key design parameter in FFHR is increased for compensation of decreasing subcritical level. As a result, structure material integrity is damaged under high irradiation condition by increasing Pfus. Also, deep burn of reprocessed SNF is limited by weakened integrity of structure material. Therefore, in this research, SNF option study will be conducted on DUPIC (Direct Use of Spent PWR Fuel in CANDU Reactor) fuel, TRU fuel and DUPIC + TRU mixed fuel for optimization of Hyb-WT performance. Goal of this research is design check for low required fusion power and high waste transmutation. In this paper, neutronic analysis is conducted on Hyb-WT with DUPIC nuclear fuel. When DUPIC nuclear fuel is loaded in fast neutron system, supplement fissile materials need to be loaded together for compensation of low criticality

Spent Nuclear Fuel Option Study on Hybrid Reactor for Waste Transmutation

Energy Technology Data Exchange (ETDEWEB)

Hong, Seong Hee; Kim, Myung Hyun [Kyung Hee University, Yongin (Korea, Republic of)

2016-05-15

DUPIC nuclear fuel can be used in hybrid reactor by compensation of subcritical level through (U-10Zr) fuel. Energy production performance of Hyb-WT with DUPIC is grateful because it has high EM factor and performs waste transmutation at the same time. However, waste transmutation performance should be improved by different fissile fuel instead of (U-10Zr) fuel. SNF (Spent Nuclear Fuel) disposal is one of the problems in the nuclear industry. FFHR (Fusion-Fission Hybrid Reactor) is one of the most attractive option on reuse of SNF as a waste transmutation system. Because subcritical system like FFHR has some advantages compared to critical system. Subcritical systems have higher safety potential than critical system. Also, there is suppressed excess reactivity at BOC (Beginning of Cycle) in critical system, on the other hand there is no suppressed reactivity in subcritical system. Our research team could have designed FFHR for waste transmutation; Hyb-WT. Various researches have been conducted on fuel and coolant option for optimization of transmutation performance. However, Hyb-WT has technical disadvantage. It is required fusion power (Pfus) which is the key design parameter in FFHR is increased for compensation of decreasing subcritical level. As a result, structure material integrity is damaged under high irradiation condition by increasing Pfus. Also, deep burn of reprocessed SNF is limited by weakened integrity of structure material. Therefore, in this research, SNF option study will be conducted on DUPIC (Direct Use of Spent PWR Fuel in CANDU Reactor) fuel, TRU fuel and DUPIC + TRU mixed fuel for optimization of Hyb-WT performance. Goal of this research is design check for low required fusion power and high waste transmutation. In this paper, neutronic analysis is conducted on Hyb-WT with DUPIC nuclear fuel. When DUPIC nuclear fuel is loaded in fast neutron system, supplement fissile materials need to be loaded together for compensation of low criticality

Asset allocation using option-implied moments

Science.gov (United States)

Bahaludin, H.; Abdullah, M. H.; Tolos, S. M.

2017-09-01

This study uses an option-implied distribution as the input in asset allocation. The computation of risk-neutral densities (RND) are based on the Dow Jones Industrial Average (DJIA) index option and its constituents. Since the RNDs estimation does not incorporate risk premium, the conversion of RND into risk-world density (RWD) is required. The RWD is obtained through parametric calibration using the beta distributions. The mean, volatility, and covariance are then calculated to construct the portfolio. The performance of the portfolio is evaluated by using portfolio volatility and Sharpe ratio.

Radiological impacts of spent nuclear fuel management options

International Nuclear Information System (INIS)

Riotte, H.; Lazo, T.; Mundigl, S.

2000-01-01

An important technical study on radiological impacts of spent nuclear fuel management options, recently completed by the NEA, is intended to facilitate informed international discussions on the nuclear fuel cycle. The study compares the radiological impacts on the public and on nuclear workers resulting from two approaches to handling spent fuel from nuclear power plants: - the reprocessing option, that includes the recycling of spent uranium fuel, the reuse of the separated plutonium in MOX fuel, and the direct disposal of spent MOX fuel; and the once-through option, with no reprocessing of spent fuel, and its direct disposal. Based on the detailed research of a group of 18 internationally recognised experts, under NEA sponsorship, the report concludes that: The radiological impacts of both the reprocessing and the non-reprocessing fuel cycles studied are small, well below any regulatory dose limits for the public and for workers, and insignificantly low as compared with exposures caused by natural radiation. The difference in the radiological impacts of the two fuel cycles studied does not provide a compelling argument in favour of one option or the other. The study also points out that other factors, such as resource utilisation efficiency, energy security, and social and economic considerations would tend to carry more weight than radiological impacts in decision-making processes. (authors)

An Empirical Test of Efficiency of Exchange-Traded Currency Options in India

OpenAIRE

Aparna Bhat; Kirti Arekar

2015-01-01

The objective of this paper is to examine efficiency of the exchange-traded currency options market in India. Put-call-futures parity for the USD-INR currency options is studied by analyzing daily closing prices of options and futures for thirty two months on the National Stock Exchange. The study reveals frequent violations of the put-call-futures parity creating significant arbitrage opportunities. The pattern of mispricing varies when examined for time to maturity, option moneyness, liquid...

Options for accounting carbon sequestration in German forests

Science.gov (United States)

Krug, Joachim; Koehl, Michael; Riedel, Thomas; Bormann, Kristin; Rueter, Sebastian; Elsasser, Peter

2009-01-01

Background The Accra climate change talks held from 21–27 August 2008 in Accra, Ghana, were part of an ongoing series of meetings leading up to the Copenhagen meeting in December 2009. During the meeting a set of options for accounting carbon sequestration in forestry on a post-2012 framework was presented. The options include gross-net and net-net accounting and approaches for establishing baselines. Results This article demonstrates the embedded consequences of Accra Accounting Options for the case study of German national GHG accounting. It presents the most current assessment of sequestration rates by forest management for the period 1990 – 2007, provides an outlook of future emissions and removals (up to the year 2042) as related to three different management scenarios, and shows that implementation of some Accra options may reverse sources to sinks, or sinks to sources. Conclusion The results of the study highlight the importance of elaborating an accounting system that would prioritize the climate convention goals, not national preferences. PMID:19650896

Option Derivatives in Electricity Hedging

Directory of Open Access Journals (Sweden)

P. Pavlátka

2010-01-01

Full Text Available Despite the high volatility of electricity prices, there is still little demand for electricity power options, and the liquidity on the power exchanges of these power derivatives is quite low. One of the reasons is the uncertainty about how to evaluate these electricity options and about finding the right fair value of this product. Hedging of electricity is associated mainly with products such as futures and forwards. However, due to new trends in electricity trading and hedging, it is also useful to think more about options and the principles for working with them in hedging various portfolio positions and counterparties. We can quite often encounter a situation when we need to have a perfect hedge for our customer’s (end user consuming electricity portfolio, or we have to evaluate the volumetric risk (inability of a customer to predict consumption, which is very similar to selling options. Now comes the moment to compare the effects of using options or futures to hedge these open positions. From a practical viewpoint, the Black-Scholes prices appear to be the best available and the simplest method for evaluating option premiums, but there are some limitations that we have to consider.

Analytic American Option Pricing and Applications

OpenAIRE

Sbuelz, A.

2003-01-01

I use a convenient value breakdown in order to obtain analytic solutions for finitematurity American option prices.Such a barrier-option-based breakdown yields an analytic lower bound for the American option price, which is as price-tight as the Barone-Adesi and Whaley (1987) analytic value proxy for short and medium maturities and exhibits good convergence to the Merton (1973) perpetual option price for large maturities.

Treatment Options by Stage (Pancreatic Cancer)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Options by Stage (Esophageal Cancer)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Options by Stage (Vulvar Cancer)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Options by Stage (Penile Cancer)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Options for Non-Hodgkin Lymphoma

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... lymphoma may come back as indolent lymphoma. Treatment Option Overview Key Points There are different types of ...

Treatment Options by Stage (Prostate Cancer)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Options by Stage (Adrenocortical Carcinoma)

Science.gov (United States)

... affect the prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Options for Childhood Hodgkin Lymphoma

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... the lungs , liver , bones, or bone marrow . Treatment Option Overview Key Points There are different types of ...

Treatment Options for Adult Hodgkin Lymphoma

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Chronic Lymphocytic Leukemia)

Science.gov (United States)

... examination under a microscope. Certain factors affect treatment options and prognosis (chance of recovery). Treatment options depend ... that does not get better with treatment. Treatment Option Overview Key Points There are different types of ...

Hairy Cell Leukemia Treatment Option Overview

Science.gov (United States)

... or a swollen spleen. Certain factors affect treatment options and prognosis (chance of recovery). The treatment options ... cell leukemia has not responded to treatment. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Small Intestine Cancer)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Adult Hodgkin Lymphoma)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Merkel Cell Carcinoma)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... common for Merkel cell carcinoma to recur. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Childhood Hodgkin Lymphoma)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... the lungs , liver , bones, or bone marrow . Treatment Option Overview Key Points There are different types of ...

Treatment Options for AIDS-Related Lymphoma

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... nervous system is not primary CNS lymphoma. Treatment Option Overview Key Points There are different types of ...

Treatment Options for Renal Cell Cancer

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Options for Gastrointestinal Carcinoid Tumors

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... body. Has not gotten better with treatment. Treatment Option Overview Key Points There are different types of ...

Treatment Options by Stage (Gastric Cancer)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... such as the liver or lymph nodes . Treatment Option Overview Key Points There are different types of ...

Treatment Options by Stage (Thyroid Cancer)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Options for Chronic Myelogenous Leukemia

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... of blast cells increases after a remission . Treatment Option Overview Key Points There are different types of ...

Preliminary study of the nuclear power option in Belarus

International Nuclear Information System (INIS)

Grusha, N.M.; Kazazyan, V.T.; Malykhin, A.P.; Mikhalevich, A.A.; Yakushau, A.P.; Yaroshevich, O.I.

1999-01-01

The Republic of Belarus possesses an economy with many energy intensive branches. At the same time the share of domestic energy resources is about 15% of total energy demand. The share of the payment for primary energy resources reaches 60% or USD 2 billion of the total energy import. That is comparable with the annual state budget. In addition to that, about half of the installed capacities have reached their operation life and 90% of the units have to be retrofitted or replaced until 2010. Thus, the problem of energy supply is one of the most important ones for Belarus' economy. The nuclear power appears to be one of the possible ways for solving the energy demand problem in Belarus which has, as in case of many countries of Central and South-Eastern Europe, limited energy resources. In 1992 - 1994 the works for studying the possibility of NPP siting were recommenced and six relatively competitive sites have been chosen out from 54 possible locations for NPP siting. Parallely, works on assessment of environmental NPP effect in these sites were carried out. As concerning the reactors to be purchased and installed in the sites selected, the following options were taken into consideration: PWR of American Company WESTINGHOUSE; PWR N4 of France Company FRAMATOME; PWR KONVOI of German Company SIEMENS. Also promising are the new generation of Russian Reactor NPP, namely NPP - 91, NPP - 92 and NPP with NGWWER - 640 reactors. Preliminary assessment having in view the feasibility characteristics, safety, reliability as well as the degree of completion shows the Russian projects NPP - 92 and NGWWER - 640 as more preferably at present. Concerning the radioactive waste management, sites for storing low and medium active waste have been determined as well as regions for high active waste disposal. At present Belarus Republic disposes of a definite production, engineering and scientific potential, which can be used when the nuclear power program will be launched. Construction

Closed-form pricing formula for exchange option with credit risk

International Nuclear Information System (INIS)

Kim, Geonwoo; Koo, Eunho

2016-01-01

In this paper, we study the valuation of Exchange option with credit risk. Since the over-the-counter (OTC) markets have grown rapidly in size, the counterparty default risk is very important and should be considered for the valuation of options. For modeling of credit risk, we use the structural model of Klein [13]. We derive the closed-form pricing formula for the price of the Exchange option with credit risk via the Mellin transform and provide the experiment results to illustrate the important properties of option with numerical graphs.

Options of electric generation and sustainability

International Nuclear Information System (INIS)

Martin del Campo M, C.

2004-01-01

In this paper a study on the sustainability of the main electricity generation options is presented. The study is based on a matrix of sustainability indicators developed in Switzerland. A revision of some sustainability studies performed in countries with certain energy diversity and with experience in nuclear power plants operation, is done. Studies, in general, are performed for the power plant life cycle, taking into account economic aspects, fuel prices impact on electricity generation costs, fuel reserves indicators and material consumption. Air emission, waste production and human health impact data are also presented. All the results lead to confirm that nuclear energy has a high degree of sustainability vis a vis other options based on fossil fuels and renewable. Finally some comments are presented in order to highlight the importance that nuclear energy might have in the sustainable development of Mexico. (Author)

Perspective on long-range nuclear energy options

International Nuclear Information System (INIS)

Harms, W.O.

1977-01-01

The study group whose effort is presented here concluded that the United States urgently needs to have a breeder option available for possible deployment before the year 2000 primarily because of uncertainties in the availability of fossil fuels and uranium supplies. It was recommended that the U/Pu LMFBR program proceed as planned, including prompt construction of the CRBRP and its associated fuel cycle facilities. Alternative cycle studies should be pursued, but without significantly delaying the current program. There are technological choices which, in suitable political contexts, may somewhat reduce proliferation risks; of these, only those that employ breeders preserve the breeder option (and the nuclear option in the long term. These alternatives must be coupled with political agreements to have any significant effect on proliferation potential internationally. These same political agreements should suffice to control the U/Pu breeder cycle; there is only a difference in degree between the U/Pu and the denatured Th/U-233 cycles

Monitoring in beeld: een studie naar de doorwerking van monitors in interbestuurlijke relaties

NARCIS (Netherlands)

D. de Kool (Dennis)

2007-01-01

textabstractMonitoring in the Dutch public sector An increasing stream of monitoring activities has entered the public sector. A lot of different monitors have been implemented in the Netherlands, like the police monitor, drugs monitor, integration monitor and the emancipation monitor. Although

World-wide online monitoring interface of the ATLAS experiment

CERN Document Server

Kolos, S; The ATLAS collaboration; Mineev, M; Hauser, R; Salnikov, A

2014-01-01

The ATLAS collaboration accounts for more than 3000 members located all over the world. The efficiency of the experiment can be improved allowing system experts not present on site to follow the ATLAS operations in real-time, spotting potential problems which otherwise may remain unattended for a non-negligible time. Taking into account the wide geographical spread of the ATLAS collaboration, the solution of this problem is to have all monitoring information with minimal access latency available world-wide. We have implemented a framework which defines a standard approach for retrieving arbitrary monitoring information from the ATLAS private network via HTTP. An information request is made by specifying one of the predefined URLs with some optional parameters refining data which has to be shipped back in XML format. The framework takes care of receiving, parsing and forwarding such requests to the appropriate plugins. The plugins retrieve the requested data and convert it to XML (or optionally to JSON) format...

When less is more: Effects of the availability of strategic options on regulating negative emotions.

Science.gov (United States)

Bigman, Yochanan E; Sheppes, Gal; Tamir, Maya

2017-09-01

Research in several domains suggests that having strategic options is not always beneficial. In this paper, we tested whether having strategic options (vs. not) is helpful or harmful for regulating negative emotions. In 5 studies (N = 151) participants were presented with 1 or more strategic options prior to watching aversive images and using the selected strategic option. Across studies, we found that people reported less intense negative emotions when the strategy they used to regulate their emotions was presented as a single option, rather than as 1 of several options. This was regardless of whether people could choose between the options (Studies 3-5) or not (Studies 1, 2, and 4), and specific to negative (but not neutral) images (Study 5). A sixth study addressed an explanation based on demand characteristics, showing that participants expected to feel more positive when having more than 1 option. The findings indicate that having strategic options for regulating negative emotions can sometimes be costly. (PsycINFO Database Record (c) 2017 APA, all rights reserved).

Comparative evaluation of radioactive waste management options. Final report

International Nuclear Information System (INIS)

Appel, D.; Kreusch, J.; Neumann, W.

2001-05-01

A comprehensive presentation of the various radioactive waste options under debate has not been made so far, let alone a comparative evaluation of the options with respect to their substantiated or assumed advantages or drawbacks. However, any appropriate discussion about the pros and cons of the specific options for final decision making has to be based on a comprehensive knowledge base drawn from profound comparative evaluation of essential options. Therefore, the study reported in this publication was to serve three major purposes: Presentation of the conditions and waste management policies and approaches in selected countries, in order to compile information about the various policy goals and the full scope of argumentation, as well as the range of individual arguments used for or against specific options. - Derivation of a methodology for evaluation, including development of criteria for a comparative and qualitative evaluation of options. - Identification of possible implications for a waste management strategy for Germany, derived from the results of the comparative evaluation and the examination of the reasonings and argumentation used in the various countries. (orig./CB) [de

Safety of timber : An analysis of quality control options

NARCIS (Netherlands)

Kovryga, A.; Stapel, P.; Van de Kuilen, J.W.G.

2014-01-01

The quality assurance of timber properties is important for the safety of timber structures. In the current study, the quality control options of timber are analysed under the prism of the different growth regions. Therefore, these options - machine and output control - are simulated in accordance

Options for reclaiming the Gunnar uranium tailings, Saskatchewan, Canada

International Nuclear Information System (INIS)

Lawson, D.W.

1986-01-01

This paper discusses potential reclamation options and outlines further associated studies. Research is continuing and none of the options are as yet under consideration for implementation. Final selection could also require integrated planning involving an environmental impact assessment, pathways analyses and cost benefit evaluations

Margin Requirements and Equity Option Returns

DEFF Research Database (Denmark)

Hitzemann, Steffen; Hofmann, Michael; Uhrig-Homburg, Marliese

In equity option markets, traders face margin requirements both for the options themselves and for hedging-related positions in the underlying stock market. We show that these requirements carry a significant margin premium in the cross-section of equity option returns. The sign of the margin...... premium depends on demand pressure: If end-users are on the long side of the market, option returns decrease with margins, while they increase otherwise. Our results are statistically and economically significant and robust to different margin specifications and various control variables. We explain our...... findings by a model of funding-constrained derivatives dealers that require compensation for satisfying end-users’ option demand....

Margin Requirements and Equity Option Returns

DEFF Research Database (Denmark)

Hitzemann, Steffen; Hofmann, Michael; Uhrig-Homburg, Marliese

In equity option markets, traders face margin requirements both for the options themselves and for hedging-related positions in the underlying stock market. We show that these requirements carry a significant "margin premium" in the cross-section of equity option returns. The sign of the margin...... premium depends on demand pressure: If end-users are on the long side of the market, option returns decrease with margins, while they increase otherwise. Our results are statistically and economically significant and robust to different margin specifications and various control variables. We explain our...... findings by a model of funding-constrained derivatives dealers that require compensation for satisfying end-users’ option demand....

Additional self-monitoring tools in the dietary modification component of The Women's Health Initiative.

Science.gov (United States)

Mossavar-Rahmani, Yasmin; Henry, Holly; Rodabough, Rebecca; Bragg, Charlotte; Brewer, Amy; Freed, Trish; Kinzel, Laura; Pedersen, Margaret; Soule, C Oehme; Vosburg, Shirley

2004-01-01

Self-monitoring promotes behavior changes by promoting awareness of eating habits and creates self-efficacy. It is an important component of the Women's Health Initiative dietary intervention. During the first year of intervention, 74% of the total sample of 19,542 dietary intervention participants self-monitored. As the study progressed the self-monitoring rate declined to 59% by spring 2000. Participants were challenged by inability to accurately estimate fat content of restaurant foods and the inconvenience of carrying bulky self-monitoring tools. In 1996, a Self-Monitoring Working Group was organized to develop additional self-monitoring options that were responsive to participant needs. This article describes the original and additional self-monitoring tools and trends in tool use over time. Original tools were the Food Diary and Fat Scan. Additional tools include the Keeping Track of Goals, Quick Scan, Picture Tracker, and Eating Pattern Changes instruments. The additional tools were used by the majority of participants (5,353 of 10,260 or 52% of participants who were self-monitoring) by spring 2000. Developing self-monitoring tools that are responsive to participant needs increases the likelihood that self-monitoring can enhance dietary reporting adherence, especially in long-term clinical trials.

Option Pricing using Realized Volatility

DEFF Research Database (Denmark)

Stentoft, Lars Peter

dynamics to be used for option pricing purposes in this framework, and we show that our model explains some of the mispricings found when using traditional option pricing models based on interdaily data. We then show explicitly that a Generalized Autoregressive Conditional Heteroskedastic model with Normal...... Inverse Gaussian distributed innovations is the corresponding benchmark model when only daily data is used. Finally, we perform an empirical analysis using stock options for three large American companies, and we show that in all cases our model performs significantly better than the corresponding...... benchmark model estimated on return data alone. Hence the paper provides evidence on the value of using high frequency data for option pricing purposes....

Americal options analyzed differently

NARCIS (Netherlands)

Nieuwenhuis, J.W.

2003-01-01

In this note we analyze in a discrete-time context and with a finite outcome space American options starting with the idea that every tradable should be a martingale under a certain measure. We believe that in this way American options become more understandable to people with a good working

An overview of seasonal affective disorder and its treatment options.

Science.gov (United States)

Howland, Robert H

2009-12-01

Seasonal affective disorder (SAD) is defined as a history of major depressive episodes that recur regularly at a particular time of year. Depending on the diagnostic instruments and criteria available, the reported prevalence (1%-10%) varies. Neurotransmitter abnormalities have been implicated in the pathophysiology, but they do not necessarily explain the seasonal pattern or the known chronobiological abnormalities in SAD compared with nonseasonal depression. Circadian rhythm abnormalies have been hypothesized to account for these aspects of SAD, and they provide a rationale for the therapeutic use of light therapy. Family history, twin, and molecular genetics studies suggest that hereditary factors are also involved. Light therapy and antidepressant medication are effective treatment options, with limited evidence for the efficacy of psychotherapy. Some studies demonstrate that narrow-band short wavelength "blue" light, naturalistic dawn simulation, and high-density negative air ionization are effective. Patients should be informed of the benefits of diet and exercise. Light therapy should be clinically monitored in the same manner, as it is done for other antidepressant treatments.

The hardness of the nuclear option in the Netherlands. A study on the occurrence of an abused technology

International Nuclear Information System (INIS)

Van Vugt, F.

2004-01-01

The central theme in this master's thesis is the tension between attempts aimed at phasing out the nuclear option and the resistance of the implied sociotechnical structures to this fundamental change. Nuclear option is the choice of a particular country for the generation of electricity by means of nuclear fission. This study is inspired by an empirical question: why is the intention of certain countries to phase out the nuclear option so difficult to realize. This intention is constantly the object of debate. This is shown by the delay of the planned decommissioning of the Barsebaeck-plant in Sweden, the statements of the director of Electrabel (the company that manages the Belgian nuclear plants) that the plants will not be closed on the dates that were dictated by the Belgian government and by the fact that the Borssele-plant in the Netherlands is still up and running despite a parliamentary decree dictating the closure of the plant on 31st of December 2003. Did policymakers responsible for the decision to phase out make a mistake concerning the constructability of reality? Why is it so difficult to change the technological status quo? What factors play a role in this resistance? These questions form the core of this study. To answer these questions use is made of the theoretical work of Anique Hommels. In her doctoral thesis (Unbuilding Cities: Obduracy in Urban Sociotechnical Change) she poses similar questions in relation to urban structures. Why are certain urban structures so hard to change? This resistance to change is expressed in the notion of obduracy. Hommels identifies four causations of this obduracy, which she expresses in four theoretical categories: (1) material obduracy, (2) obduracy caused by dominant ways of thinking, (3) obduracy as constituted by embeddedness, and (4) obduracy explained by persistent traditions. These notions are derived from the interdisciplinary research field of Science Technology and Society studies (STS). In this report

Alternative Fuels Data Center: Biodiesel Equipment Options

Science.gov (United States)

Equipment Options to someone by E-mail Share Alternative Fuels Data Center: Biodiesel Equipment Options on Facebook Tweet about Alternative Fuels Data Center: Biodiesel Equipment Options on Twitter Bookmark Alternative Fuels Data Center: Biodiesel Equipment Options on Google Bookmark Alternative Fuels

A qualitative assessment of climate adaptation options and some estimates of adaptation costs

International Nuclear Information System (INIS)

Van Ierland, E.C.; De Bruin, K.; Dellink, R.B.; Ruijs, A.

2006-12-01

The Routeplanner project aims to provide a 'systematic assessment' of potential adaptation options to respond to climate change in the Netherlands in connection to spatial planning. The study is the result of a policy oriented project that took place between May and September 2006. The aim of the current study is to provide a 'qualitative assessment' of the direct and indirect effects of adaptation options and to provide an assessment of some of the costs and benefits of adaptation options. The present report presents and summarizes the results of all phases of the study: an inventory of adaptation options, a qualitative assessment of the effects of the adaptation options for the Netherlands in the long run, a database which allows to rank the various options according to a set of criteria and a relative ranking on the basis of these criteria. Finally, the report also contains the best available information on costs and benefits of various adaptation options.

American options under stochastic volatility

NARCIS (Netherlands)

Chockalingam, A.; Muthuraman, K.

2011-01-01

The problem of pricing an American option written on an underlying asset with constant price volatility has been studied extensively in literature. Real-world data, however, demonstrate that volatility is not constant, and stochastic volatility models are used to account for dynamic volatility

Acceptability of female-controlled HIV/STI prevention options by ...

African Journals Online (AJOL)

The attitudes of working professionals, particularly in the healthcare sector, may play a large role in the acceptance or otherwise of female-controlled HIV/STI prevention options. In 2002, we conducted an exploratory study on the perceptions surrounding female-controlled HIV/STI prevention options, principally the ...

78 FR 7997 - Noncompensatory Partnership Options

Science.gov (United States)

2013-02-05

... Noncompensatory Partnership Options AGENCY: Internal Revenue Service (IRS), Department of the Treasury. ACTION... noncompensatory options and convertible instruments issued by a partnership. The final regulations generally provide that the exercise of a noncompensatory option does not cause the recognition of immediate income...

Asteroid Redirect Robotic Mission: Robotic Boulder Capture Option Overview

Science.gov (United States)

Mazanek, Daniel D.; Merrill, Raymond G.; Belbin, Scott P.; Reeves, David M.; Earle, Kevin D.; Naasz, Bo J.; Abell, Paul A.

2014-01-01

The National Aeronautics and Space Administration (NASA) is currently studying an option for the Asteroid Redirect Robotic Mission (ARRM) that would capture a multi-ton boulder (typically 2-4 meters in size) from the surface of a large (is approximately 100+ meter) Near-Earth Asteroid (NEA) and return it to cislunar space for subsequent human and robotic exploration. This alternative mission approach, designated the Robotic Boulder Capture Option (Option B), has been investigated to determine the mission feasibility and identify potential differences from the initial ARRM concept of capturing an entire small NEA (4-10 meters in size), which has been designated the Small Asteroid Capture Option (Option A). Compared to the initial ARRM concept, Option B allows for centimeter-level characterization over an entire large NEA, the certainty of target NEA composition type, the ability to select the boulder that is captured, numerous opportunities for mission enhancements to support science objectives, additional experience operating at a low-gravity planetary body including extended surface contact, and the ability to demonstrate future planetary defense strategies on a hazardous-size NEA. Option B can leverage precursor missions and existing Agency capabilities to help ensure mission success by targeting wellcharacterized asteroids and can accommodate uncertain programmatic schedules by tailoring the return mass.

48 CFR 3017.202 - Use of options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Use of options. 3017.202... ACQUISITION REGULATION (HSAR) CONTRACT METHODS AND CONTRACT TYPES SPECIAL CONTRACTING METHODS Options. 3017.202 Use of options. (a) Contracting officers shall not use unpriced options. ...

Technological options for acid rain control

International Nuclear Information System (INIS)

Princiotta, F.T.; Sedman, C.B.

1993-01-01

The paper discusses technological options for acid rain control. Compliance with Title IV of the Clean Air Act Amendments of 1990 will require careful scrutiny of a number of issues before selecting control options to reduce sulfur dioxide (SO2) and nitrogen oxide (NOx) emissions. One key consideration is the effect of fuel switching or control technology upon the existing dust collector, with additional air toxics legislation looming ahead. A number of likely SO2 and NOx retrofit technologies and estimated costs are presented, along with results of retrofit case studies. New hybrid particulate controls are also being developed to meet future requirements

Optimizing study design for multi-species avian monitoring programmes

Science.gov (United States)

Jamie S. Sanderlin; William M. Block; Joseph L. Ganey

2014-01-01

Many monitoring programmes are successful at monitoring common species, whereas rare species, which are often of highest conservation concern, may be detected infrequently. Study designs that increase the probability of detecting rare species at least once over the study period, while collecting adequate data on common species, strengthen programme ability to address...

Fourier and wavelet option pricing methods

NARCIS (Netherlands)

S.C. Maree (Stef); L. Ortiz Gracia (Luis); C.W. Oosterlee (Cornelis); M.A.H. Dempster; J. Kanniainen (Juho); J. Keane (John); E. Vynckier (Erik)

2018-01-01

textabstractIn this overview chapter, we will discuss the use of exponentially converging option pricing techniques for option valuation. We will focus on the pricing of European options, and they are the basic instruments within a calibration procedure when fitting the parameters in asset dynamics.

Option trading and individual investor performance

NARCIS (Netherlands)

Bauer, R.; Cosemans, M.; Eichholtz, P.

2009-01-01

This paper examines the impact of option trading on individual investor performance. The results show that most investors incur substantial losses on their option investments, which are much larger than the losses from equity trading. We attribute the detrimental impact of option trading on investor

American option pricing with stochastic volatility processes

Directory of Open Access Journals (Sweden)

Ping LI

2017-12-01

Full Text Available In order to solve the problem of option pricing more perfectly, the option pricing problem with Heston stochastic volatility model is considered. The optimal implementation boundary of American option and the conditions for its early execution are analyzed and discussed. In view of the fact that there is no analytical American option pricing formula, through the space discretization parameters, the stochastic partial differential equation satisfied by American options with Heston stochastic volatility is transformed into the corresponding differential equations, and then using high order compact finite difference method, numerical solutions are obtained for the option price. The numerical experiments are carried out to verify the theoretical results and simulation. The two kinds of optimal exercise boundaries under the conditions of the constant volatility and the stochastic volatility are compared, and the results show that the optimal exercise boundary also has stochastic volatility. Under the setting of parameters, the behavior and the nature of volatility are analyzed, the volatility curve is simulated, the calculation results of high order compact difference method are compared, and the numerical option solution is obtained, so that the method is verified. The research result provides reference for solving the problems of option pricing under stochastic volatility such as multiple underlying asset option pricing and barrier option pricing.

Skewed Normal Distribution Of Return Assets In Call European Option Pricing

Directory of Open Access Journals (Sweden)

Evy Sulistianingsih

2011-12-01

Full Text Available Option is one of security derivates. In financial market, option is a contract that gives a right (notthe obligation for its owner to buy or sell a particular asset for a certain price at a certain time.Option can give a guarantee for a risk that can be faced in a market.This paper studies about theuse of Skewed Normal Distribution (SN in call europeanoption pricing. The SN provides aflexible framework that captures the skewness of log return. We obtain aclosed form solution forthe european call option pricing when log return follow the SN. Then, we will compare optionprices that is obtained by the SN and the Black-Scholes model with the option prices of market. Keywords: skewed normaldistribution, log return, options.

Technology survey for real-time monitoring of plutonium in a vitrifier off-gas system

International Nuclear Information System (INIS)

Berg, J.M.; Veirs, D.K.

1996-01-01

We surveyed several promising measurement technologies for the real-time monitoring of plutonium in a vitrifier off-gas system. The vitrifier is being developed by Westinghouse Savannah River Corp. and will be used to demonstrate vitrification of plutonium dissolved in nitric acid for fissile material disposition. The risk of developing a criticality hazard in the off-gas processing equipment can be managed by using available measurement technologies. We identified several potential technologies and methods for detecting plutonium that are sensitive enough to detect the accumulation of a mass sufficient to form a criticality hazard. We recommend gross alpha-monitoring technologies as the most promising option for Westinghouse Savannah River Corp. to consider because that option appears to require the least additional development. We also recommend further consideration for several other technologies because they offer specific advantages and because gross alpha-monitoring could prove unsuitable when tested for this specific application

Newborn screening for congenital cytomegalovirus: Options for hospital-based and public health programs.

Science.gov (United States)

Grosse, Scott D; Dollard, Sheila; Ross, Danielle S; Cannon, Michael

2009-12-01

Congenital cytomegalovirus (CMV) infection is a leading cause of sensorineural hearing loss (SNHL) and developmental disability in children. Early identification of infected children through screening could allow for early intervention and improvement in functional outcomes among the subset who develop sequelae. To outline potential options and strategies for screening newborns for congenital CMV infection and to discuss barriers to screening and data needs to inform future policy decisions. Commentary based on the literature and expert opinion on newborn dried blood spot screening, newborn hearing screening/Early Hearing Detection and Intervention (EHDI) programs, and congenital CMV. Although no population-based screening for congenital CMV is underway, pilot newborn screening studies using a variety of assays with urine or dried blood spot specimens are underway. Challenges to screening are both practical-uncertain sensitivity of blood spot assays suitable for large-scale screening and lack of infrastructure for collection of urine specimens; and evidentiary-the need to demonstrate improved outcomes and value of screening to offset the expense and potential adverse psychosocial consequences for children and families whose children require periodic monitoring but never develop sequelae. Screening for congenital CMV infection is a potentially important intervention that merits additional research, including the logistical feasibility of different screening options and psychosocial consequences for families.

THE EFFECTS OF CHANGING MARGIN LEVELS ON FUTURES OPTIONS PRICE

Institute of Scientific and Technical Information of China (English)

Yanling GU; Juan LI

2006-01-01

The paper studies the effects of changing margin levels on the price of futures options and how to organize a market maker's position. Black model (1976) becomes a special case of this paper.The paper prices futures options by duplicating them and adopting the theory of Backward Stochastic Differential Equations (BSDEs for short). Furthermore, the price of a futures option is the unique solution to a nonlinear BSDE.

The Pricing of Foreign Currency Futures Options

OpenAIRE

Chang Mo Ahn

1996-01-01

We derive semi-closed form solutions for the forward and futures exchange rates, European foreign currency options, currency forward options, and currency futures options when the domestic and foreign interest rate movements follow mean reverting diffusion processes. These solutions are consistent with the Black-Scholes option formula so that they can be easily applied. The impact of interest rate uncertainty on theoretical prices of currency futures options is too significant to be neglected.

48 CFR 317.207 - Exercise of options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Exercise of options. 317... METHODS AND CONTRACT TYPES SPECIAL CONTRACTING METHODS Options 317.207 Exercise of options. (h) Before exercising an option for a subsequent performance period/additional quantity under a multiple-year contract...

48 CFR 1517.207 - Exercise of options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Exercise of options. 1517... CONTRACTING METHODS AND CONTRACT TYPES SPECIAL CONTRACTING METHODS Options 1517.207 Exercise of options. (a) Unless otherwise approved by the Chief of the Contracting Office, contracts for services employing option...

24 CFR 982.636 - Homeownership option: Portability.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Homeownership option: Portability... Types Homeownership Option § 982.636 Homeownership option: Portability. (a) General. A family may... described in §§ 982.353 and 982.355 apply to the homeownership option and the administrative...

National energy planning with nuclear option

International Nuclear Information System (INIS)

Soetrisnanto, Arnold Y.; Hastowo, Hudi; Soentono, Soedyartomo

2002-01-01

National energy planning with nuclear option. Energy planning development is a part of the sustainable development that supports the attainment of national development goals. The objective of the study is to support the national planning and decision-making process in the energy and electric sector in Indonesia with nuclear option for period of 1998-2027. This study performs the provision of detailed economic sector and regional energy demand projection by MAED simulation model based on the economic and population scenarios. The optimization of the future energy supply such as electricity supply taking all known Indonesian energy sources and all relevant technologies into consideration by MARKAL Model. The results shows that Indonesia's need for final energy is forecasted to increase two times, from 4028,4 PJ at the beginning of study become 8145,6 PJ at the end of study. Performing the sensitivity study, it is predicted that nuclear energy could be introduced in the Java-Bali electricity grid about year 2016

Wide area monitoring study

International Nuclear Information System (INIS)

Wogman, N.A.; Holdren, G.R. Jr.

1999-01-01

Environmental sampling can be used to complement the safeguarding of nuclear material, especially in the detection of undeclared nuclear activities. Routine monitoring of nuclear installations has provided valuable information about the fate of key signature materials within different environmental settings. The approach collates information regarding the generation of individual radiochemical signatures within different nuclear processes, the potential for release of these signatures to the environment and, the chemical form and mobility of the signatures in environmental media along which the material could migrate. Meteorological, geological and hydrological information is used to determine where to sample, what to sample, and how often to sample to provide the greatest likelihood for detection. Multiple strategies can be used to implement wide area monitoring for safeguards purposes. The most complex, and expensive of these, involves establishing extensive networks of fixed location sampling sites. The sites would be operated continuously, and would be instrumented with automated sampling, analysis, and communication equipment to relay information regarding potential anomalies to control centers in near-real time. Alternative strategies can be used to supplement fixed location monitoring equipment, especially in regions that cannot support (financially or logistically) the fixed stations. Through combinations of these various strategies, using a variety of environmental media to monitor a region, we believe that a competent network, one with a quantifiable probability for detecting undeclared nuclear activities, can be designed. While this approach cannot and should not replace other inspection and monitoring activities, it can potentially contribute valuable information to an international safeguards system. (author)

Designing flexible engineering systems utilizing embedded architecture options

Science.gov (United States)

Pierce, Jeff G.

This dissertation develops and applies an integrated framework for embedding flexibility in an engineered system architecture. Systems are constantly faced with unpredictability in the operational environment, threats from competing systems, obsolescence of technology, and general uncertainty in future system demands. Current systems engineering and risk management practices have focused almost exclusively on mitigating or preventing the negative consequences of uncertainty. This research recognizes that high uncertainty also presents an opportunity to design systems that can flexibly respond to changing requirements and capture additional value throughout the design life. There does not exist however a formalized approach to designing appropriately flexible systems. This research develops a three stage integrated flexibility framework based on the concept of architecture options embedded in the system design. Stage One defines an eight step systems engineering process to identify candidate architecture options. This process encapsulates the operational uncertainty though scenario development, traces new functional requirements to the affected design variables, and clusters the variables most sensitive to change. The resulting clusters can generate insight into the most promising regions in the architecture to embed flexibility in the form of architecture options. Stage Two develops a quantitative option valuation technique, grounded in real options theory, which is able to value embedded architecture options that exhibit variable expiration behavior. Stage Three proposes a portfolio optimization algorithm, for both discrete and continuous options, to select the optimal subset of architecture options, subject to budget and risk constraints. Finally, the feasibility, extensibility and limitations of the framework are assessed by its application to a reconnaissance satellite system development problem. Detailed technical data, performance models, and cost estimates

Heterogeneous Beliefs, Public Information, and Option Markets

DEFF Research Database (Denmark)

Qin, Zhenjiang

In an incomplete market setting with heterogeneous prior beliefs, I show that public information and strike price of option have substantial infl‡uence on asset pricing in option markets, by investigating an absolute option pricing model with negative exponential utility investors and normally...... distributed dividend. I demonstrate that heterogeneous prior variances give rise to the economic value of option markets. Investors speculate in option market and public information improves allocational efficiency of markets only when there is heterogeneity in prior variance. Heterogeneity in mean is neither...... a necessary nor sufficient condition for generating speculations in option markets. With heterogeneous beliefs, options are non-redundant assets which can facilitate side-betting and enable investors to take advantage of the disagreements and the differences in con…dence. This fact leads to a higher growth...

48 CFR 3417.207 - Exercise of options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Exercise of options. 3417... REGULATION CONTRACTING METHODS AND CONTRACT TYPES SPECIAL CONTRACTING METHODS Options 3417.207 Exercise of options. If any provision in a contract requires that an option may only be exercised within a specified...

48 CFR 17.207 - Exercise of options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Exercise of options. 17... METHODS AND CONTRACT TYPES SPECIAL CONTRACTING METHODS Options 17.207 Exercise of options. (a) When exercising an option, the contracting officer shall provide written notice to the contractor within the time...

48 CFR 817.202 - Use of options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Use of options. 817.202... AND CONTRACT TYPES SPECIAL CONTRACTING METHODS Options 817.202 Use of options. All solicitations... four one-year renewal options as prescribed in FAR Subpart 17.2. The contracting officer must forward...

48 CFR 536.270 - Exercise of options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Exercise of options. 536... Construction 536.270 Exercise of options. (a) If exercising an option, notify the contractor, in writing, within the time period specified in the contract. (b) Exercise options only after determining that all...

Analytic American Option Pricing and Applications

NARCIS (Netherlands)

Sbuelz, A.

2003-01-01

I use a convenient value breakdown in order to obtain analytic solutions for finitematurity American option prices.Such a barrier-option-based breakdown yields an analytic lower bound for the American option price, which is as price-tight as the Barone-Adesi and Whaley (1987) analytic value proxy

Pre-defined and optional staging for the deployment of enterprise systems: a case study and a framework

Science.gov (United States)

Lichtenstein, Yossi; Cucuy, Shy; Fink, Lior

2017-03-01

The effective deployment of enterprise systems has been a major challenge for many organisations. Customising the new system, changing business processes, and integrating multiple information sources are all difficult tasks. As such, they are typically done in carefully planned stages in a process known as phased implementation. Using ideas from Option Theory, this article critiques aspects of phased implementation. One customer relationship management (CRM) project and its phased implementation are described in detail and ten other enterprise system deployments are summarised as a basis for the observation that almost all deployment stages are pre-defined operational steps rather than decision points. However, Option Theory suggests that optional stages, to be used only when risk materialises, should be integral parts of project plans. Although such optional stages are often more valuable than pre-defined stages, the evidence presented in this article shows that they are only rarely utilised. Therefore, a simple framework is presented; it first identifies risks related to the deployment of enterprise systems, then identifies optional stages that can mitigate these risks, and finally compares the costs and benefits of both pre-defined and optional stages.

48 CFR 517.202 - Use of options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Use of options. 517.202... AND CONTRACT TYPES SPECIAL CONTRACTING METHODS Options 517.202 Use of options. (a) Supplies or services. (1) You should use options when they meet one or more of the following objectives: (i) Reduce...

48 CFR 217.207 - Exercise of options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Exercise of options. 217..., DEPARTMENT OF DEFENSE CONTRACTING METHODS AND CONTRACT TYPES SPECIAL CONTRACTING METHODS Options 217.207 Exercise of options. (c) In addition to the requirements at FAR 17.207(c), exercise an option only after...

48 CFR 17.202 - Use of options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Use of options. 17.202... AND CONTRACT TYPES SPECIAL CONTRACTING METHODS Options 17.202 Use of options. (a) Subject to the..., the contracting officer may include options in contracts when it is in the Government's interest. When...

32 CFR 644.168 - Exercise of options.

Science.gov (United States)

2010-07-01

... 32 National Defense 4 2010-07-01 2010-07-01 true Exercise of options. 644.168 Section 644.168... ESTATE HANDBOOK Acquisition Procurement of Options Prior to Real Estate Directives (military) § 644.168 Exercise of options. Upon issuance of a real estate directive for acquisition of the optioned real property...

Risk-adapted monitoring is not inferior to extensive on-site monitoring: Results of the ADAMON cluster-randomised study.

Science.gov (United States)

Brosteanu, Oana; Schwarz, Gabriele; Houben, Peggy; Paulus, Ursula; Strenge-Hesse, Anke; Zettelmeyer, Ulrike; Schneider, Anja; Hasenclever, Dirk

2017-12-01

Background According to Good Clinical Practice, clinical trials must protect rights and safety of patients and make sure that the trial results are valid and interpretable. Monitoring on-site has an important role in achieving these objectives; it controls trial conduct at trial sites and informs the sponsor on systematic problems. In the past, extensive on-site monitoring with a particular focus on formal source data verification often lost sight of systematic problems in study procedures that endanger Good Clinical Practice objectives. ADAMON is a prospective, stratified, cluster-randomised, controlled study comparing extensive on-site monitoring with risk-adapted monitoring according to a previously published approach. Methods In all, 213 sites from 11 academic trials were cluster-randomised between extensive on-site monitoring (104) and risk-adapted monitoring (109). Independent post-trial audits using structured manuals were performed to determine the frequency of major Good Clinical Practice findings at the patient level. The primary outcome measure is the proportion of audited patients with at least one major audit finding. Analysis relies on logistic regression incorporating trial and monitoring arm as fixed effects and site as random effect. The hypothesis was that risk-adapted monitoring is non-inferior to extensive on-site monitoring with a non-inferiority margin of 0.60 (logit scale). Results Average number of monitoring visits and time spent on-site was 2.1 and 2.7 times higher in extensive on-site monitoring than in risk-adapted monitoring, respectively. A total of 156 (extensive on-site monitoring: 76; risk-adapted monitoring: 80) sites were audited. In 996 of 1618 audited patients, a total of 2456 major audit findings were documented. Depending on the trial, findings were identified in 18%-99% of the audited patients, with no marked monitoring effect in any of the trials. The estimated monitoring effect is -0.04 on the logit scale with two-sided 95

Response comparative study of Rn-222 alpha particles track monitors

International Nuclear Information System (INIS)

Pereira, Osvaldo Luiz dos Santos

2010-01-01

This work was a comparative study between the responses of three monitors, the NRPB, an acrylic monitor (in thin film geometry) and the aluminum monitor (also thin film geometry) in controlled and mixed environment. The experiments consisted on placing the monitors in a plastic tube, with a radio-226 source internal. Only internal CR-39 plastic detectors were analyzed in this work. It was found that the monitors in thin film geometry had activities response of approximately 15% less than the NRPB monitors. All monitors responded the same way when in controlled environment. Related to the type of material, conductive plastic or dielectric (insulator) plastic, the NRPB, in environments without ventilation, responded in the same way. (author)

The incremental cost of switching from Option B to Option B+ for the prevention of mother-to-child transmission of HIV.

Science.gov (United States)

O'Brien, Lisa; Shaffer, Nathan; Sangrujee, Nalinee; Abimbola, Taiwo O

2014-03-01

To estimate the incremental cost over 5 years of a policy switch from the Option B to the Option B+ protocol for the prevention of mother-to-child transmission (PMTCT) of the human immunodeficiency virus (HIV). Data from cost studies and other published sources were used to determine the cost, per woman and per cohort (1000 breastfeeding and 1000 non-breastfeeding women), of switching from Option B (maternal triple antiretroviral [ARV] regimen during pregnancy and breastfeeding plus daily nevirapine for the infant for 6 weeks) to Option B+ (maternal triple ARV regimen initiated during pregnancy and continued for life). The variables used to model the different scenarios were maternal CD4+ T lymphocyte (CD4+ cell) count (350-500 versus > 500 cells/µl), rate of decline in CD4+ cells (average, rapid, slow), breastfeeding status (yes, no) and breastfeeding duration (12, 18 or 24 months). For women with CD4+ cell counts of 350-500 cells/µl, the incremental cost per 1000 women was 157,345 United States dollars (US$) for breastfeeding women and US$ 92,813 for non-breastfeeding women. For women with CD4+ cell counts > 500 cells/µl, the incremental cost per 1000 women ranged from US$ 363,443 to US$ 484,591 for breastfeeding women and was US$ 605,739 for non-breastfeeding women. From a cost perspective, a policy switch from Option B to Option B+ is feasible in PMTCT programme settings where resources are currently being allocated to Option B.

Real Options Analysis of Electricity Investments

Energy Technology Data Exchange (ETDEWEB)

Heggedal, Ane Marte

2012-07-01

This thesis utilizes real options analysis for evaluating investment opportunities in the electricity sector. It also formally tests how investors in hydropower plants have included uncertainty when considering their investment opportunities. The real options method applies financial options theory to quantify the value of management flexibility and is chosen due to three important characteristics of investments in the electricity sector. First; the investment is completely or partially irreversible, second; the investor can choose when to invest in the facility, and third; there is uncertainty in several factors affecting the cash flows of the investments. Factors of uncertainty include the development of electricity prices, policies, technological advances, and macroeconomics measures.Four papers are included in this thesis. Paper 1, Upgrading hydropower plants with storage: Timing and capacity choice, presents a valuation framework for deciding when to upgrade an existing hydropower plant and which capacity to choose. The second paper, Transmission capacity between Norway and Germany: A real options analysis, sheds light on when two electricity markets, in this case Norway and Germany, should be connected through a sub sea cable. The investor can choose when to invest and the capacity of the cable, and may also choose to invest sequentially. Paper 3, Optimal timing and capacity choice for pumped hydropower storage, investigates when investment in a pumped hydropower plant with storage should be undertaken and what the capacity of the facility should be. Whereas the three first papers investigate investment opportunities, Paper 4, Uncertain climate policy decisions and investment timing: Evidence from small hydropower plants, studies when investors in small hydropower plants chose to invest. The analyses disclose whether the net present value approach or the real options method best describe the investment decisions made by the investors. Viewing investment

How Does Pricing of Day-ahead Electricity Market Affect Put Option Pricing?

Directory of Open Access Journals (Sweden)

H. Raouf Sheybani

2016-09-01

Full Text Available In this paper, impacts of day-ahead market pricing on behavior of producers and consumers in option and day-ahead markets and on option pricing are studied. To this end, two comprehensive equilibrium models for joint put option and day-ahead markets under pay-as-bid and uniform pricing in day-ahead market are presented, respectively. Interaction between put option and day-ahead markets, uncertainty in fuel price, day-ahead market pricing, and elasticity of consumers to strike price, premium price, and day-ahead price are taken into account in these models. By applying the presented models to a test system impact of day-ahead market pricing on equilibrium of joint put option and day-ahead markets are studied.

Budget Options

National Research Council Canada - National Science Library

2000-01-01

This volume-part of the Congressional Budget Office's (CBO's) annual report to the House and Senate Committees on the Budget-is intended to help inform policymakers about options for the federal budget...

Treatment Options for Actinic Keratosis

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) depends mostly on ... helped by lip balm or petroleum jelly . Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Vaginal Cancer)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) depends on the ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Anal Cancer)

Science.gov (United States)

... affect the prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) depends on the ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

24 CFR 221.775 - Option period.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Option period. 221.775 Section 221.775 Housing and Urban Development Regulations Relating to Housing and Urban Development (Continued... § 221.775 Option period. The mortgagee may exercise its option to assign within one year following the...

24 CFR 221.770 - Assignment option.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Assignment option. 221.770 Section... § 221.770 Assignment option. A mortgagee holding a conditional or firm commitment issued on or before... mortgagee's approved underwriter on or before November 30, 1983) has the option to assign, transfer and...

Fast Spectrum Molten Salt Reactor Options

Energy Technology Data Exchange (ETDEWEB)

Gehin, Jess C [ORNL; Holcomb, David Eugene [ORNL; Flanagan, George F [ORNL; Patton, Bruce W [ORNL; Howard, Rob L [ORNL; Harrison, Thomas J [ORNL

2011-07-01

During 2010, fast-spectrum molten-salt reactors (FS-MSRs) were selected as a transformational reactor concept for light-water reactor (LWR)-derived heavy actinide disposition by the Department of Energy-Nuclear Energy Advanced Reactor Concepts (ARC) program and were the subject of a preliminary scoping investigation. Much of the reactor description information presented in this report derives from the preliminary studies performed for the ARC project. This report, however, has a somewhat broader scope-providing a conceptual overview of the characteristics and design options for FS-MSRs. It does not present in-depth evaluation of any FS-MSR particular characteristic, but instead provides an overview of all of the major reactor system technologies and characteristics, including the technology developments since the end of major molten salt reactor (MSR) development efforts in the 1970s. This report first presents a historical overview of the FS-MSR technology and describes the innovative characteristics of an FS-MSR. Next, it provides an overview of possible reactor configurations. The following design features/options and performance considerations are described including: (1) reactor salt options-both chloride and fluoride salts; (2) the impact of changing the carrier salt and actinide concentration on conversion ratio; (3) the conversion ratio; (4) an overview of the fuel salt chemical processing; (5) potential power cycles and hydrogen production options; and (6) overview of the performance characteristics of FS-MSRs, including general comparative metrics with LWRs. The conceptual-level evaluation includes resource sustainability, proliferation resistance, economics, and safety. The report concludes with a description of the work necessary to begin more detailed evaluation of FS-MSRs as a realistic reactor and fuel cycle option.

48 CFR 2917.202 - Use of options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Use of options. 2917.202... CONTRACT TYPES SPECIAL CONTRACTING METHODS Options 2917.202 Use of options. The HCA may, in unusual circumstances, approve option quantities in excess of the 50 percent limit prescribed in FAR 17.203(g)(2). The...

Alternative energy options

International Nuclear Information System (INIS)

Bennett, K.F.

1983-01-01

It is accepted that coal will continue to play the major role in the supply of energy to the country for the remainder of the century. In this paper, however, emphasis has been directed to those options which could supplement coal in an economic and technically sound manner. The general conclusion is that certain forms of solar energy hold the most promise and it is in this direction that research, development and implementation programmes should be directed. Tidal energy, fusion energy, geothermal energy, hydrogen energy and fuel cells are also discussed as alternative energy options

40 CFR 60.4385 - How are excess emissions and monitoring downtime defined for SO2?

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 6 2010-07-01 2010-07-01 false How are excess emissions and monitoring downtime defined for SO2? 60.4385 Section 60.4385 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY... downtime defined for SO2? If you choose the option to monitor the sulfur content of the fuel, excess...

Reflux parameters as modified by laparoscopic fundoplication in 40 patients with heartburn/regurgitation persisting despite PPI therapy: a study using impedance-pH monitoring.

Science.gov (United States)

Frazzoni, Marzio; Conigliaro, Rita; Melotti, Gianluigi

2011-04-01

Patients with typical reflux symptoms (heartburn/regurgitation) persisting despite proton pump inhibitor (PPI) therapy are not uncommon. Impedance-pH monitoring detects gastroesophageal reflux at all pH levels and may establish if ongoing symptoms on PPI therapy are associated with acid/nonacid reflux. Laparoscopic fundoplication is a therapeutic option in such patients but reflux parameters on PPI therapy and after intervention and their relationship with symptom persistence/remission have been scarcely studied. The aim of this study was to assess reflux parameters and their relationship with symptoms before and after laparoscopic fundoplication, on and off PPI therapy, respectively, in patients with PPI-unresponsive heartburn/regurgitation and with a positive symptom-reflux association and/or abnormal reflux parameters detected on PPI therapy. Impedance-pH monitoring was performed on high-dose PPI therapy and 3 months after laparoscopic fundoplication, off PPI therapy, in 40 patients with PPI-unresponsive heartburn/regurgitation. Symptoms were scored by a validated questionnaire. Esophageal acid exposure time as well as the number of total and proximal reflux events and of acid and weakly acidic refluxes decreased significantly after surgery: normal values were found in 100, 77, 95, 92 and 65% of cases, respectively. Weakly alkaline refluxes increased significantly postoperatively but neither before nor after intervention were associated with symptoms. All patients reported total/subtotal remission of heartburn/regurgitation 3 months after surgery. Laparoscopic fundoplication improves acid and weakly acidic reflux parameters when compared with PPI therapy. This improvement justifies the very high post-surgical symptom remission rate that we observed. Prolonged follow-up is warranted but our findings strongly support the surgical option in PPI failures.

42 CFR 457.70 - Program options.

Science.gov (United States)

2010-10-01

... 42 Public Health 4 2010-10-01 2010-10-01 false Program options. 457.70 Section 457.70 Public... Plans for Child Health Insurance Programs and Outreach Strategies § 457.70 Program options. (a) Health benefits coverage options. A State may elect to obtain health benefits coverage under its plan through— (1...

24 CFR 221.255 - Assignment option.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Assignment option. 221.255 Section... Assignment option. (a) A mortgagee holding a mortgage insured pursuant to a conditional or firm commitment issued on or before November 30, 1983 has the option to assign, transfer and deliver to the Commissioner...

Expensing stock options: a fair-value approach.

Science.gov (United States)

Kaplan, Robert S; Palepu, Krishna G

2003-12-01

Now that companies such as General Electric and Citigroup have accepted the premise that employee stock options are an expense, the debate is shifting from whether to report options on income statements to how to report them. The authors present a new accounting mechanism that maintains the rationale underlying stock option expensing while addressing critics' concerns about measurement error and the lack of reconciliation to actual experience. A procedure they call fair-value expensing adjusts and eventually reconciles cost estimates made at grant date with subsequent changes in the value of the options, and it does so in a way that eliminates forecasting and measurement errors over time. The method captures the chief characteristic of stock option compensation--that employees receive part of their compensation in the form of a contingent claim on the value they are helping to produce. The mechanism involves creating entries on both the asset and equity sides of the balance sheet. On the asset side, companies create a prepaid-compensation account equal to the estimated cost of the options granted; on the owners'-equity side, they create a paid-in capital stock-option account for the same amount. The prepaid-compensation account is then expensed through the income statement, and the stock option account is adjusted on the balance sheet to reflect changes in the estimated fair value of the granted options. The amortization of prepaid compensation is added to the change in the option grant's value to provide the total reported expense of the options grant for the year. At the end of the vesting period, the company uses the fair value of the vested option to make a final adjustment on the income statement to reconcile any difference between that fair value and the total of the amounts already reported.

48 CFR 217.202 - Use of options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Use of options. 217.202... OF DEFENSE CONTRACTING METHODS AND CONTRACT TYPES SPECIAL CONTRACTING METHODS Options 217.202 Use of options. (1) See PGI 217.202 for guidance on the use of options. (2) See 234.005-1 for limitations on the...

48 CFR 252.217-7001 - Surge option.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Surge option. 252.217-7001... Clauses 252.217-7001 Surge option. As prescribed in 217.208-70(b), use the following clause: Surge Option (AUG 1992) (a) General. The Government has the option to— (1) Increase the quantity of supplies or...

Monitoring with MonAMI: a case study

Energy Technology Data Exchange (ETDEWEB)

Millar, A P; Stewart, G A [Department of Physics and Astronomy, University of Glasgow, University Avenue, Glasgow, G12 8QQ (United Kingdom); Cowan, G A [Department of Physics, University of Edinburgh, Edinburgh (United Kingdom)], E-mail: p.millar@physics.gla.ac.uk

2008-07-15

Computing resources in HEP are increasingly delivered utilising grid technologies, which presents new challenges in terms of monitoring. Monitoring involves the flow of information between different communities: the various resource-providers and the different user communities. The challenge is providing information so everyone can find what they need: from the local site administrators, regional operational centres through to end-users. To meet this challenge, MonAMI was developed. MonAMI aims to be a universal sensor framework with a plugin architecture. This plugin structure allows flexibility in what is monitored and how the gathered information is reported. MonAMI supports gathering statistics from many standard daemons, such as MySQL and Apache, and system data, such as network sockets and memory consumption. The gathered data can be sent to many monitoring systems, including Ganglia, Nagios, MonALISA and R-GMA. This flexibility allows MonAMI to be integrated into whatever monitoring system is being used. This avoids the current duplication of sensors and allows the gathered statistics to be presented within a greater diversity of monitoring systems. Using the MonAMI framework, sensors have been developed for the DPM and dCache storage systems, both common at HEP grid centres. The development of these tools specifically to tackle the challenges of high availability storage is described. We illustrate how MonAMI's architecture allows a single sensor to both deliver long term trend information and to trigger alarms in abnormal conditions. The use of MonAMI within the ScotGrid distributed Tier-2 is examined as a case study, illustrating both the ease with which MonAMI integrates into existing systems and helps provide a framework for extending monitoring where necessary.

Monitoring with MonAMI: a case study

International Nuclear Information System (INIS)

Millar, A P; Stewart, G A; Cowan, G A

2008-01-01

Computing resources in HEP are increasingly delivered utilising grid technologies, which presents new challenges in terms of monitoring. Monitoring involves the flow of information between different communities: the various resource-providers and the different user communities. The challenge is providing information so everyone can find what they need: from the local site administrators, regional operational centres through to end-users. To meet this challenge, MonAMI was developed. MonAMI aims to be a universal sensor framework with a plugin architecture. This plugin structure allows flexibility in what is monitored and how the gathered information is reported. MonAMI supports gathering statistics from many standard daemons, such as MySQL and Apache, and system data, such as network sockets and memory consumption. The gathered data can be sent to many monitoring systems, including Ganglia, Nagios, MonALISA and R-GMA. This flexibility allows MonAMI to be integrated into whatever monitoring system is being used. This avoids the current duplication of sensors and allows the gathered statistics to be presented within a greater diversity of monitoring systems. Using the MonAMI framework, sensors have been developed for the DPM and dCache storage systems, both common at HEP grid centres. The development of these tools specifically to tackle the challenges of high availability storage is described. We illustrate how MonAMI's architecture allows a single sensor to both deliver long term trend information and to trigger alarms in abnormal conditions. The use of MonAMI within the ScotGrid distributed Tier-2 is examined as a case study, illustrating both the ease with which MonAMI integrates into existing systems and helps provide a framework for extending monitoring where necessary

Privacy by design in personal health monitoring.

Science.gov (United States)

Nordgren, Anders

2015-06-01

The concept of privacy by design is becoming increasingly popular among regulators of information and communications technologies. This paper aims at analysing and discussing the ethical implications of this concept for personal health monitoring. I assume a privacy theory of restricted access and limited control. On the basis of this theory, I suggest a version of the concept of privacy by design that constitutes a middle road between what I call broad privacy by design and narrow privacy by design. The key feature of this approach is that it attempts to balance automated privacy protection and autonomously chosen privacy protection in a way that is context-sensitive. In personal health monitoring, this approach implies that in some contexts like medication assistance and monitoring of specific health parameters one single automatic option is legitimate, while in some other contexts, for example monitoring in which relatives are receivers of health-relevant information rather than health care professionals, a multi-choice approach stressing autonomy is warranted.

Transportation Options | Climate Neutral Research Campuses | NREL

Science.gov (United States)

Transportation Options Transportation Options Transportation to, from, and within a research campus from business travel often enlarge the footprint more than expected. To understand options for climate

Remote Monitoring of Forest Insect Defoliation -A Review-

Directory of Open Access Journals (Sweden)

C.D. Rullan-Silva

2013-12-01

Full Text Available Aim of study: This paper reviews the global research during the last 6 years (2007-2012 on the state, trends and potential of remote sensing for detecting, mapping and monitoring forest defoliation caused by insects.Area of study: The review covers research carried out within different countries in Europe and America.Main results: A nation or region wide monitoring system should be scaled in two levels, one using time-series with moderate to coarse resolutions, and the other with fine or high resolution. Thus, MODIS data is increasingly used for early warning detection, whereas Landsat data is predominant in defoliation damage research. Furthermore, ALS data currently stands as the more promising option for operative detection of defoliation.Vegetation indices based on infrared-medium/near-infrared ratios and on moisture content indicators are of great potential for mapping insect pest defoliation, although NDVI is the most widely used and tested.Research highlights: Among most promising methods for insect defoliation monitoring are Spectral Mixture Analysis, best suited for detection due to its sub-pixel recognition enhancing multispectral data, and use of logistic models as function of vegetation index change between two dates, recommended for predicting defoliation.Key words: vegetation damage; pest outbreak; spectral change detection.

Specialist Cohort Event Monitoring studies: a new study method for risk management in pharmacovigilance.

Science.gov (United States)

Layton, Deborah; Shakir, Saad A W

2015-02-01

The evolving regulatory landscape has heightened the need for innovative, proactive, efficient and more meaningful solutions for 'real-world' post-authorization safety studies (PASS) that not only align with risk management objectives to gather additional safety monitoring information or assess a pattern of drug utilization, but also satisfy key regulatory requirements for marketing authorization holder risk management planning and execution needs. There is a need for data capture across the primary care and secondary care interface, or for exploring use of new medicines in secondary care to support conducting PASS. To fulfil this need, event monitoring has evolved. The Specialist Cohort Event Monitoring (SCEM) study is a new application that enables a cohort of patients prescribed a medicine in the hospital and secondary care settings to be monitored. The method also permits the inclusion of a comparator cohort of patients receiving standard care, or another counterfactual comparator group, to be monitored concurrently, depending on the study question. The approach has been developed in parallel with the new legislative requirement for pharmaceutical companies to undertake a risk management plan as part of post-authorization safety monitoring. SCEM studies recognize that the study population comprises those patients who may have treatment initiated under the care of specialist health care professionals and who are more complex in terms of underlying disease, co-morbidities and concomitant medications than the general disease population treated in primary care. The aims of this paper are to discuss the SCEM new-user study design, rationale and features that aim to address possible bias (such as selection bias) and current applications.

Using expectations to monitor robotic progress and recover from problems

Science.gov (United States)

Kurup, Unmesh; Lebiere, Christian; Stentz, Anthony; Hebert, Martial

2013-05-01

How does a robot know when something goes wrong? Our research answers this question by leveraging expectations - predictions about the immediate future - and using the mismatch between the expectations and the external world to monitor the robot's progress. We use the cognitive architecture ACT-R (Adaptive Control of Thought - Rational) to learn the associations between the current state of the robot and the world, the action to be performed in the world, and the future state of the world. These associations are used to generate expectations that are then matched by the architecture with the next state of the world. A significant mismatch between these expectations and the actual state of the world indicate a problem possibly resulting from unexpected consequences of the robot's actions, unforeseen changes in the environment or unanticipated actions of other agents. When a problem is detected, the recovery model can suggest a number of recovery options. If the situation is unknown, that is, the mismatch between expectations and the world is novel, the robot can use a recovery solution from a set of heuristic options. When a recovery option is successfully applied, the robot learns to associate that recovery option with the mismatch. When the same problem is encountered later, the robot can apply the learned recovery solution rather than using the heuristics or randomly exploring the space of recovery solutions. We present results from execution monitoring and recovery performed during an assessment conducted at the Combined Arms Collective Training Facility (CACTF) at Fort Indiantown Gap.

Implied Volatility of Interest Rate Options: An Empirical Investigation of the Market Model

DEFF Research Database (Denmark)

Christiansen, Charlotte; Hansen, Charlotte Strunk

2002-01-01

We analyze the empirical properties of the volatility implied in options on the 13-week US Treasury bill rate. These options have not been studied previously. It is shown that a European style put option on the interest rate is equivalent to a call option on a zero-coupon bond. We apply the LIBOR...

Asymptotic approach to the pricing of geometric asian options under the CEV model

International Nuclear Information System (INIS)

Lee, Min-Ku

2016-01-01

This paper studies the pricing of Asian options whose payoffs depend on the average value of an underlying asset during the period to a maturity. Since the Asian option is not so sensitive to the value of underlying asset, the possibility of manipulation is relatively small than the other options such as European vanilla and barrier options. We derive the pricing formula of geometric Asian options under the constant elasticity of variance (CEV) model that is one of local volatility models, and investigate the implication of the CEV model for geometric Asian options.

Pricing American and Asian Options

OpenAIRE

Pat Muldowney

2015-01-01

An analytic method for pricing American call options is provided; followed by an empirical method for pricing Asian call options. The methodology is the pricing theory presented in "A Modern Theory of Random Variation", by Patrick Muldowney, 2012.

Building EOS capability for Malaysia - the options

Science.gov (United States)

Subari, M. D.; Hassan, A.

2014-06-01

Earth observation satellite (EOS) is currently a major tool to monitor earth dynamics and increase human understanding of earth surface process. Since the early 80s, Malaysia has been using EOS images for various applications, such as weather forecasting, land use mapping, agriculture, environment monitoring and others. Until now, all EOS images were obtained from foreign satellite systems. Realising on the strategic need of having its own capability, Malaysia embarked into EOS development programs in the early 90s. Starting with TiungSAT-1, a micro-satellite carrying small camera, then followed by RazakSAT, a small satellite carrying 2.5 m panchromatic (PAN) medium-aperture-camera, the current satellite program development, the RazakSAT-2, designed to carry a 1.0 m high resolution PAN and 4.0m multi-spectral camera, would become a strategic initiative of the government in developing and accelerating the nation's capability in the area of satellite technology and its application. Would this effort continue until all needs of the remote sensing community being fulfilled by its own EOS? This paper will analyze the intention of the Malaysian government through its National Space Policy and other related policy documents, and proposes some policy options on this. Key factors to be considered are specific data need of the EOS community, data availability and the more subjective political motivations such as national pride.

Monitoring system for gamma radiation of porch type for vehicles

International Nuclear Information System (INIS)

Vazquez C, R.M.; Molina, G.; Gutierrez O, E.; Ramirez J, F.J.; Garcia H, J.M.; Aguilar B, M.A.; Vilchis P, A.E.; Cruz E, P.; Torres B, M.A.

2005-01-01

A monitoring system of gamma radiation for vehicles of the porch type developed in the ININ is presented. This system carries out the radiological monitoring of the vehicles in continuous form, detecting the bottom radiological environment and the presence of nuclear material transported in vehicles. The vehicles are monitored while they pass to low speed through the porch. The detectors are plastic scintillators of great volume that allow high sensibility detection. The arrangement of detecting is interconnected in net, and the data are concentrated on a personal computer whose interface man-machine can be accessed from any personal computer connected to Internet. The system monitoring in real time with options of sampling times from 50 ms configurable up to 500 ms. (Author)

A Consistent Pricing Model for Index Options and Volatility Derivatives

DEFF Research Database (Denmark)

Cont, Rama; Kokholm, Thomas

observed properties of variance swap dynamics and allows for jumps in volatility and returns. An affine specification using L´evy processes as building blocks leads to analytically tractable pricing formulas for options on variance swaps as well as efficient numerical methods for pricing of European......We propose and study a flexible modeling framework for the joint dynamics of an index and a set of forward variance swap rates written on this index, allowing options on forward variance swaps and options on the underlying index to be priced consistently. Our model reproduces various empirically...... options on the underlying asset. The model has the convenient feature of decoupling the vanilla skews from spot/volatility correlations and allowing for different conditional correlations in large and small spot/volatility moves. We show that our model can simultaneously fit prices of European options...

Stock Options Economic Determinants of Brazilian Listed Companies

Directory of Open Access Journals (Sweden)

Isaac Gezer Silva de Oliveira

2018-01-01

Full Text Available It aim to identify the economic determinants that influence the use of stock options plans in Brazilian public companies listed on the Brazilian Securities, Commodities, and Futures Exchange (BM&FBovespa. Theoretically, the study relies on agency theory and corporate governance and executive compensation body of knowledge. Four research hypotheses were drawn concerning financial performance and corporate value; indebtedness; ownership concentration; and size. The sample was comprised of 100 companies with greater liquidity shares and volume for six years (from 2010 to2015.Data were examined from the logistic regression panel. The results lead to the rejection of the first and the fourth hypo the sesindicating, in the case of H1, that the higher financial performance the lower is probability of use stock options and, in the case of H4, that the higher size is related the lower is probability of use of stock options in their incentive plans for executives. The third hypothesis (H3 was not rejected, indicating that the ownership concentration relates negatively with the use of stock options. Regarding the second hypothesis (H2, the results did not present statistical significance indicating the absence of a relationship between indebtedness and the use of stock options. As a summary of the results it was found that the use of stock options tend to be used by lower companies, with lower ownership concentration and lower financial performance.

Control options for river water quality improvement: a case study of ...

African Journals Online (AJOL)

Using a simple conceptual dynamic river water quality model, the effects of different basin-wide water quality management options on downstream water quality improvements in a semi-arid river, the Crocodile River (South Africa) were investigated. When a river is impacted by high rates of freshwater withdrawal (in its ...

45 CFR 1306.33 - Home-based program option.

Science.gov (United States)

2010-10-01

... 45 Public Welfare 4 2010-10-01 2010-10-01 false Home-based program option. 1306.33 Section 1306.33... PROGRAM HEAD START STAFFING REQUIREMENTS AND PROGRAM OPTIONS Head Start Program Options § 1306.33 Home-based program option. (a) Grantees implementing a home-based program option must: (1) Provide one home...

Nuclear Options for Industrialized and Developing Countries for 2020 Results of a Forecast Study

International Nuclear Information System (INIS)

Loriette, Ph.; Bootz, J.Ph.

2002-01-01

The main objective of the project is to detect one or more nuclear options (consisting of one or several sets of reactors and fuel types) which could present a significant interest for the two horizons of 2020 and 2070. In order to attain this objective it is necessary first to define the energetic context for each of the two horizons. For EDF, the short and medium term issues are essentially to pursue the high quality operation of the existing plants and, on the other hand, to prepare the future in the perspective of the progressive park renewal. The project aims at providing an answer to this second issue. In order to provide the best possible answer, the project will have to address other criteria than the usual technical-economical one and consider every possible option. In particular, the analysis will have to integrate all the aspects: environmental, political, sociological, and market oriented. A forecast study will allow to define scenarios leading to the description of the energetic situation at horizons 2020 and 2070. The general framework of the analysis is defined, among others, by the perspectives concerning the existing park lifetime and economic competitiveness, the different types of energies demand, the European electricity market opening context and the international regulations concerning the greenhouse effect gases emissions. At the same time, the knowledge pertaining to the different innovative concepts will be gathered. Today several technical solutions are proposed by the French and foreign makers and R and D organizations, with varying degrees of development or industrialization. Those solutions concern either the reactors, the fuel or the back end of the cycle or the three topics together. It is therefore necessary to gather the acquired knowledge and to follow the development projects of those options. This activity is a technological watch or state of the art survey. Three types of options are to be distinguished: - evolutionary and

Surface Acoustic Wave Monitor for Deposition and Analysis of Ultra-Thin Films

Science.gov (United States)

Hines, Jacqueline H. (Inventor)

2015-01-01

A surface acoustic wave (SAW) based thin film deposition monitor device and system for monitoring the deposition of ultra-thin films and nanomaterials and the analysis thereof is characterized by acoustic wave device embodiments that include differential delay line device designs, and which can optionally have integral reference devices fabricated on the same substrate as the sensing device, or on a separate device in thermal contact with the film monitoring/analysis device, in order to provide inherently temperature compensated measurements. These deposition monitor and analysis devices can include inherent temperature compensation, higher sensitivity to surface interactions than quartz crystal microbalance (QCM) devices, and the ability to operate at extreme temperatures.

Fibromyalgia Pathogenesis and Treatment Options Update.

Science.gov (United States)

Chinn, Steven; Caldwell, William; Gritsenko, Karina

2016-04-01

This review article presents and summarizes up-to-date literature on the clinical manifestations, diagnosis, pathophysiological mechanisms, and treatment options for fibromyalgia patients. First, the most recent diagnostic criteria for fibromyalgia, as put forth by the American College of Rheumatology will be summarized. Clinical features, including chronic widespread pain, hyperalgesia, mood disorders, anxiety, and disturbed sleep patterns will be explored in-depth. The pathogenesis and pathophysiology of fibromyalgia involves alterations in multiple ascending and descending central nervous system pathways, as well as peripheral pathways, leading to heightened pain sensitivity. Risk factors have been studied extensively, and the most recent research focuses on various genetic influences and the contributions of stress and poor sleep. Lastly, the discussion in this article focuses on treatment options for fibromyalgia; some have been mainstay options for many years. Pharmacological agents include tricyclic antidepressants, anti-epileptic drugs, selective serotonin reuptake inhibitors, norepinephrine/serotonin reuptake inhibitors, as well as some investigational agents. The evidence behind non-pharmacologic treatments, including massage therapy, exercise, and acupuncture, are discussed.

Taxing Options: Do Ceos Respond To Favorable Tax Treatment Of Stock Options?

OpenAIRE

Martin Gritsch; Tricia Coxwell Snyder

2007-01-01

CEO stock option compensation increased tremendously during the 1990s. During this period, the spread between the marginal income and capital gains tax rates increased substantially, creating the potential for tax avoidance. Using ExecuComp data from 1992-2000, we estimate CEOs’ responsiveness to changes in these tax rates. Our findings show that an increase in the marginal income and a decrease in the capital gains tax rate create a significant increase in stock option compensation. Furtherm...

Thermal test options

International Nuclear Information System (INIS)

Koski, J.A.; Keltner, N.R.; Sobolik, K.B.

1993-02-01

Shipping containers for radioactive materials must be qualified to meet a thermal accident environment specified in regulations, such at Title 10, Code of Federal Regulations, Part 71. Aimed primarily at the shipping container design, this report discusses the thermal testing options available for meeting the regulatory requirements, and states the advantages and disadvantages of each approach. The principal options considered are testing with radiant heat, furnaces, and open pool fires. The report also identifies some of the facilities available and current contacts. Finally, the report makes some recommendations on the appropriate use of these different testing methods

Centrifugal compressor design options for small turbochargers

Energy Technology Data Exchange (ETDEWEB)

Rodgers, C. [ITC, San Diego (United States)

1998-07-01

Evolutionary development of the small turbocharger centrifugal compressor over the past four decades has resulted in a finely honed turbomachinery component satisfying both thermodynamic and economic constraints. At this penultimate stage of development an appraisal was considered timely of the remaining design options that exist to enhance the performance characteristics and cost reduction features. This paper presents the results of an analytical study of various small centrifugal compressor design options, assessed in merit of both aerodynamic and manufacturing cost attributes, together with recommendations for future research avenues. (author)

Radiological assessments, environmental monitoring, and study design

International Nuclear Information System (INIS)

Hansen, W.R.; Elle, D.R.

1980-01-01

Studies of the behavior of transuranic elements in the environment form the basic data for applied programs in radiological assessment, environmental monitoring, derivation of radiation-protection standards, and environmental impact statements. This chapter introduces some of the major information requirements of these applications of transuranic research data. Characteristics of the source terms from nuclear activities usually are needed for an analysis of environmental pathways or deployment of monitoring systems. Major inhalation and ingestion pathways are considered in assessments of hazards from transuranics and are discussed from the viewpoint of research needed

Overview of magnet design options: Deliverable D5.1

CERN Document Server

AUTHOR|(CDS)2069265; Toral, Fernando

2016-01-01

This document describes the design options for 16 T superconducting dipole magnets for the FCC hadron collider explored in the frame of the activities of WP5. All options have been considered under comparable assumptions and managed using the same tools to ensure a correct judgement and comparison of their relevant pros and cons. Three baseline design configurations have been explored: 1) block-coils, 2) cosine-theta and 3) common-coils. A fourth option, the canted cosine-theta, has been initiated by Swiss (PSI, not part of EuroCirCol) and US (LBNL, EuroCirCol partner) laboratories. The studies show that, adopting a reference margin to the load line of 14 % and with reasonable assumptions on the conductor performance, the total amount of conductor needed for the entire collider is between 7.5 and 10 ktons. depending on the option. The cosine-theta uses less conductor and the canted cosine-theta uses the largest amount. The characterisation of the magnet design options is complete and the work to finalize and ...

Review of Saccharomyces boulardii as a treatment option in IBD

DEFF Research Database (Denmark)

Sivananthan, Kavitha; Petersen, Andreas Munk

2018-01-01

CONTEXT: Review of the yeast Saccharomyces boulardii as a treatment option for the inflammatory bowel diseases (IBD) ulcerative colitis and Crohn's disease. OBJECTIVE: IBD is caused by an inappropriate immune response to gut microbiota. Treatment options could therefore be prebiotics, probiotics......, antibiotics and/or fecal transplant. In this review, we have looked at the evidence for the yeast S. boulardii as a treatment option. MATERIAL AND METHODS: Searches in PubMed and the Cochrane Library with the MeSH words 'Saccharomyces boulardii AND IBD', 'Saccharomyces boulardii AND Inflammatory Bowel Disease....... Saccharomyces boulardii is, however, a plausible treatment option in the future, but more placebo-controlled clinical studies on both patients with ulcerative colitis and Crohn's disease are needed....

Investigation of non-Gaussian effects in the Brazilian option market

Science.gov (United States)

Sosa-Correa, William O.; Ramos, Antônio M. T.; Vasconcelos, Giovani L.

2018-04-01

An empirical study of the Brazilian option market is presented in light of three option pricing models, namely the Black-Scholes model, the exponential model, and a model based on a power law distribution, the so-called q-Gaussian distribution or Tsallis distribution. It is found that the q-Gaussian model performs better than the Black-Scholes model in about one third of the option chains analyzed. But among these cases, the exponential model performs better than the q-Gaussian model in 75% of the time. The superiority of the exponential model over the q-Gaussian model is particularly impressive for options close to the expiration date, where its success rate rises above ninety percent.

Golden Eagle Monitoring Plan for the Desert Renewable Energy Conservation Plan

Science.gov (United States)

Wiens, David; Kolar, Patrick; Katzner, Todd

2018-01-01

This report describes options for monitoring the status and population trends of the golden eagle (Aquila chrysaetos) within the Desert Renewable Energy Conservation Plan (DRECP) area of Southern California in maintaining stable or increasing population in the planning area. The report profiles the ecology of golden eagles in the region and provides a range of potential sampling options to address monitoring needs and objectives. This approach also focused on links between changes in human land-use, golden eagle nesting and foraging habitat conditions, and population dynamics. The report outlines how monitoring data from demographic, prey, and habitat studies were used to develop a predictive demographic model for golden eagles in the DRECP area. Results from the model simulations suggest increases in renewable energy development could have negative consequences for population trajectories. Results also suggest site-specific conservation actions could reduce the magnitude of negative impacts to the local population of eagles. A monitoring framework is proposed including: (1) annual assessments of site-occupancy and reproduction by territorial pairs of golden eagles (including rates at which sites become colonized or vacated over time); (2) estimates of survival, movements, and intensity of use of landscapes by breeding and non-breeding golden eagles; (3) periodic (conducted every two to four years) assessments of nesting and foraging habitats, prey populations, and associations with land-use and management activities; and (4) updating the predictive demographic model with new information obtained on eagles and associated population stressors. The results of this research were published in the Journal of Rapture Research, Wiens, David,Inman, Rich D., Esque, Todd C., Longshore, Kathleen M. and Nussear, Kenneth (2017). Spatial Demographic Models to Inform Conservation Planning of Golden Eagles in Renewable Energy Landscapes. 51(3):234-257.

Fatigue crack growth monitoring: fracture mechanics and non-destructive testing requirements

International Nuclear Information System (INIS)

Williams, S.; Mudge, P.J.

1982-01-01

If a fatigue crack is found in a component in service, two options exist if plant integrity is to be maintained: first, the plant can be removed from service and repairs effected or replacements fitted; second, the growth of the crack can be monitored non-destructively until it is either considered to be too large to tolerate, in which case it must be repaired, or until a convenient down time when repair can be effected. The second option has obvious benefits for plant operators, but in such a situation it is essential that errors of the non-destructive estimate of defect size, which will undoubtedly exist, and uncertainties in the fatigue crack growth laws in operation must both be allowed for if a safe extension of service life is to be obtained; i.e. without failure by leakage or fast fracture arising from the fatigue crack. This paper analyses the accuracy required of non-destructive crack measurement techniques to permit the safe monitoring of crack growth by periodic inspection. It then demonstrates that it is possible to achieve adequate crack monitoring using conventional ultrasonic techniques. (author)

Treatment Options for Adult Soft Tissue Sarcoma

Science.gov (United States)

... reacts to the light. Certain factors affect treatment options and prognosis (chance of recovery). The treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Options by Stage (Merkel Cell Carcinoma)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... common for Merkel cell carcinoma to recur. Treatment Option Overview Key Points There are different types of ...

Treatment Options by Stage (Chronic Lymphocytic Leukemia)

Science.gov (United States)

... examination under a microscope. Certain factors affect treatment options and prognosis (chance of recovery). Treatment options depend ... that does not get better with treatment. Treatment Option Overview Key Points There are different types of ...

Treatment Options for Hodgkin Lymphoma during Pregnancy

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Adult Soft Tissue Sarcoma)

Science.gov (United States)

... reacts to the light. Certain factors affect treatment options and prognosis (chance of recovery). The treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Adult Non-Hodgkin Lymphoma)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... lymphoma may come back as indolent lymphoma. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Small Cell Lung Cancer)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... or in other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Option Overview (Adult Acute Lymphoblastic Leukemia)

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... marrow , or other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Options for Adult Acute Lymphoblastic Leukemia

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... marrow , or other parts of the body. Treatment Option Overview Key Points There are different types of ...

Treatment Options for Adult Acute Myeloid Leukemia

Science.gov (United States)

... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... back in the blood or bone marrow . Treatment Option Overview Key Points There are different types of ...

Women's experiences of three early miscarriage management options a qualitative study

Science.gov (United States)

Smith, Lindsay F; Frost, Julia; Levitas, Ruth; Bradley, Harriet; Garcia, Jo

2006-01-01

Background Miscarriage affects around one in six pregnancies. Much research has taken place identifying the consequences of this for parents but is mainly quantitative. Of the limited qualitative studies, none have explored women's experiences of the methods of miscarriage management received. Aim To assess the social and personal impact of different management methods (expectant, medical and surgical) on women's experience of first trimester miscarriage. Design of study Qualitative interviews using a topic guide with a purposive cohort of four categories of women (each management method plus non-participants) 6 months to 1 year after first trimester miscarriage. Focus groups with both research participants and health workers. Setting Women from three hospitals in the South West of England that participated in the Miscarriage Treatment (MIST) trial. Method Seventy-two interviews were undertaken between September 1999 and June 2000. There were also five focus groups (47 participants) and two feedback sessions (8 participants) with written feedback from 12 women. Interviews lasted 0.5–2.5 hours generating over 2000 A4 pages of transcripts. The transcripts were analysed for common themes, using standard proformas, which were filled in by individual team members and then discussed by the whole research team. Iterative readings in the light of new emerging issues ensured that new themes could be identified throughout the analytical process. All transcripts were then encoded for the identified themes using NUDIST. Results Common themes emerged across all management options although some were specific to just one or two management options. The five major themes arising out of the data analysis were: intervention; experiences of care; finality; the ‘baby’; and pain and bleeding. Conclusions Women's experiences and beliefs vary widely and their preferences need to be considered in their early miscarriage management. The three methods have different benefits and

Levelized cost-risk reduction prioritization of waste disposal options

International Nuclear Information System (INIS)

Wilkinson, V.K.; Young, J.M.

1992-01-01

The prioritization of solid waste disposal options in terms of reduced risk to workers, the public, and the environment has recently generated considerable governmental and public interest. In this paper we address the development of a methodology to establish priorities for waste disposal options, such as incineration, landfills, long-term storage, waste minimization, etc. The study is one result of an overall project to develop methodologies for Probabilistic Risk Assessments (PRAs) of non-reactor nuclear facilities for the US Department of Energy. Option preferences are based on a levelized cost-risk reduction analysis. Option rankings are developed as functions of disposal option cost and timing, relative long- and short-term risks, and possible accident scenarios. We examine the annual costs and risks for each option over a large number of years. Risk, in this paper, is defined in terms of annual fatalities (both prompt and long-term) and environmental restoration costs that might result from either an accidental release or long-term exposure to both plant workers and the public near the site or facility. We use event timing to weigh both costs and risks; near-term costs and risks are discounted less than future expenditures and fatalities. This technique levels the timing of cash flows and benefits by converting future costs and benefits to present value costs and benefits. We give an example Levelized Cost-Benefit Analysis of incinerator location options to demonstrate the methodology and required data

Options for human intrusion

International Nuclear Information System (INIS)

Bauser, M.; Williams, R.

1993-01-01

This paper addresses options for dealing with human intrusion in terms of performance requirements and repository siting and design requirements. Options are presented, along with the advantages and disadvantages of certain approaches. At the conclusion, a conceptual approach is offered emphasizing both the minimization of subjective judgements concerning future human activity, and specification of repository requirements to minimize the likelihood of human intrusion and any resulting, harmful effects should intrusion occur

Cognitive and Affective Aspects of Creative Option Generation in Everyday Life Situations.

Science.gov (United States)

Schweizer, T Sophie; Schmalenberger, Katja M; Eisenlohr-Moul, Tory A; Mojzisch, Andreas; Kaiser, Stefan; Funke, Joachim

2016-01-01

Which factors influence a human being's ability to develop new perspectives and be creative? This ability is pivotal for any context in which new cognitions are required, such as innovative endeavors in science and art, or psychotherapeutic settings. In this article, we seek to bring together two research programs investigating the generation of creative options: On the one hand, research on option generation in the decision-making literature and, on the other hand, cognitive and clinical creativity research. Previous decision-making research has largely neglected the topic of generating creative options. Experiments typically provided participants with a clear set of options to choose from, but everyday life situations are less structured and allow countless ways to react. Before choosing an option, agents have to self-generate a set of options to choose from. Such option generation processes have only recently moved to the center of attention. The present study examines the creative quality of self-generated options in daily life situations. A student sample (N = 48) generated options for action in 70 briefly described everyday life scenarios. We rated the quality of the options on three dimensions of creativity- originality, feasibility, and divergence -and linked these qualities to option generation fluency (speed and number of generated options), situational features like the familiarity and the affective valence of the situation in which the options were generated, and trait measures of cognitive performance. We found that when situations were familiar to the participant, greater negative affective valence of the situation was associated with more originality and divergence of generated options. We also found that a higher option generation fluency was associated with a greater maximal originality of options. We complete our article with a joint research agenda for researchers in the decision-making field focusing on option generation and, on the other hand

Option Panels in Pure-Jump Settings

DEFF Research Database (Denmark)

Andersen, Torben Gustav; Fusari, Nicola; Todorov, Viktor

We develop parametric inference procedures for large panels of noisy option data in the setting where the underlying process is of pure-jump type, i.e., evolve only through a sequence of jumps. The panel consists of options written on the underlying asset with a (different) set of strikes...... specification for the risk-neutral asset return dynamics, the option prices are nonlinear functions of a time-invariant parameter vector and a time-varying latent state vector (or factors). Furthermore, no-arbitrage restrictions impose a direct link between some of the quantities that may be identified from...... the return and option data. These include the so-called jump activity index as well as the time-varying jump intensity. We propose penalized least squares estimation in which we minimize L_2 distance between observed and model-implied options and further penalize for the deviation of model-implied quantities...

Intraesophageal impedance monitoring: clinical studies

NARCIS (Netherlands)

Conchillo Armendáriz, J.M.

2007-01-01

Electrical impedance (Z) between two electrodes is the ratio between applied voltage (U) and resulting current (I). In electrical impedance monitoring the resistance to electrical flow in an alternating current circuit is measured. Multichannel esophageal monitoring can be measured by using an

Options contracts in the nuclear fuel industry

International Nuclear Information System (INIS)

Fuller, D.M.

1995-01-01

This article discusses options trading in the nuclear fuels industry. Although there now exists no formal options market in the nuclear industry, flexibilities, or embedded options, are actually quite common in the long-term supply contracts. The value of these flexibilities can be estimated by applying the methods used to evaluate options. The method used is the Black-Scholes Model, and it is applied to a number of examples

Why we should talk about option generation in decision-making research.

Science.gov (United States)

Kalis, Annemarie; Kaiser, Stefan; Mojzisch, Andreas

2013-01-01

Most empirical studies on decision-making start from a set of given options for action. However, in everyday life there is usually no one asking you to choose between A, B, and C. Recently, the question how people come up with options has been receiving growing attention. However, so far there has been neither a systematic attempt to define the construct of "option" nor an attempt to show why decision-making research really needs this construct. This paper aims to fill that void by developing definitions of "option" and "option generation" that can be used as a basis for decision-making research in a wide variety of decision-making settings, while clarifying how these notions relate to familiar psychological constructs. We conclude our analysis by arguing that there are indeed reasons to believe that option generation is an important and distinct aspect of human decision-making.

Age Differences in Consumer Decision Making under Option Framing: From the Motivation Perspective

OpenAIRE

Peng, Huamao; Xia, Shiyong; Ruan, Fanglin; Pu, Bingyan

2016-01-01

Option framing effect is the phenomena that participants often accept more options when they are asked to delete undesired options from a full model (subtractive framing) than they do when they are instructed to add desired options to a base model (additive framing). Whether the same effect exists in different age groups is less well known. To explore the roles of age and purchase motivations on the option framing effect for automobiles purchases, this study adopted a 3 (age group: younger, m...

Report on "American Option Pricing and Hedging Strategies"

OpenAIRE

Zhang, Jinshan

2007-01-01

This paper mainly discusses the American option's hedging strategies via binomialmodel and the basic idea of pricing and hedging American option. Although the essential scheme of hedging is almost the same as European option, small differences may arise when simulating the process for American option holder has more rights, spelling that the option can be exercised at anytime before its maturity. Our method is dynamic-hedging method.

Monte Carlo Simulation of an American Option

Directory of Open Access Journals (Sweden)

Gikiri Thuo

2007-04-01

Full Text Available We implement gradient estimation techniques for sensitivity analysis of option pricing which can be efficiently employed in Monte Carlo simulation. Using these techniques we can simultaneously obtain an estimate of the option value together with the estimates of sensitivities of the option value to various parameters of the model. After deriving the gradient estimates we incorporate them in an iterative stochastic approximation algorithm for pricing an option with early exercise features. We illustrate the procedure using an example of an American call option with a single dividend that is analytically tractable. In particular we incorporate estimates for the gradient with respect to the early exercise threshold level.

Western Option - Disarmament of Russian Weapon Plutonium

International Nuclear Information System (INIS)

Tveiten, B.; Petroll, M.R.

2002-01-01

The Western Option concept describes an approach to the conversion of weapon-grade plutonium from Russian nuclear warheads under the special aspects of meeting the criteria of irreversible utilization. Putting this concept of plutonium conversion into non-weapon-grade material into effect would make a major contribution to improving security worldwide. This study is based on an agreement between the Russian Federation and the United States of America concluded in September 2000. It provides for the conversion of 34 t of weapon-grade plutonium in each of the two states. This goal is also supported by other G8 countries. While the United States performs its part of the agreement under its sole national responsibility, the Russian program needs financial support by Western states. Expert groups have pointed out several options as a so-called basic scenario. The funds of approx. US Dollar 2 billion required to put them into effect have not so far been raised. The Western Option approach described in this contribution combines results of the basic scenario with other existing experience and with technical solutions available for plutonium conversion. One of the attractions of the Western Option lies in its financial advantages, which are estimated to amount to approx. US Dollar 1 billion. (orig.) [de

Patient inertia and the status quo bias: when an inferior option is preferred.

Science.gov (United States)

Suri, Gaurav; Sheppes, Gal; Schwartz, Carey; Gross, James J

2013-09-01

Medical noncompliance is a major public-health problem. One potential source of this noncompliance is patient inertia. It has been hypothesized that one cause of patient inertia might be the status quo bias-which is the tendency to select the default choice among a set of options. To test this hypothesis, we created a laboratory analogue of the decision context that frequently occurs in situations involving patient inertia, and we examined whether participants would stay with a default option even when it was clearly inferior to other available options. Specifically, in Studies 1 and 2, participants were given the option to reduce their anxiety while waiting for an electric shock. When doing nothing was the status quo option, participants frequently did not select the option that would reduce their anxiety. In Study 3, we demonstrated a simple way to overcome status quo bias in a context relevant to patient inertia.

Analytical & Experimental Study of Radio Frequency Cavity Beam Profile Monitor

Energy Technology Data Exchange (ETDEWEB)

Balcazar, Mario D. [Fermilab; Yonehara, Katsuya [Fermilab

2017-10-22

The purpose of this analytical and experimental study is multifold: 1) To explore a new, radiation-robust, hadron beam profile monitor for intense neutrino beam applications; 2) To test, demonstrate, and develop a novel gas-filled Radio-Frequency (RF) cavity to use in this monitoring system. Within this context, the first section of the study analyzes the beam distribution across the hadron monitor as well as the ion-production rate inside the RF cavity. Furthermore a more effecient pixel configuration across the hadron monitor is proposed to provide higher sensitivity to changes in beam displacement. Finally, the results of a benchtop test of the tunable quality factor RF cavity will be presented. The proposed hadron monitor configuration consists of a circular array of RF cavities located at a radial distance of 7cm { corresponding to the standard deviation of the beam due to scatering { and a gas-filled RF cavity with a quality factor in the range 400 - 800.

STRATEGIC EXERCISE OF REAL OPTIONS:INVESTMENT DECISIONS IN TECHNOLOGICAL SYSTEMS

Institute of Scientific and Technical Information of China (English)

Kevin ZHU; John WEYANT

2003-01-01

Viewing investment projects in new technologies as real options, this paper studies the effects of endogenous competition and asymmetric information on the strategic exercise of real options. We first develop a multi-period, game-theoretic model and show how competition leads to early exercise and aggressive investment behaviors and how competition erodes option values. We then relax the typical full-information assumption found in the literature and allow information asymmetry to exist across firms. Our model shows, in contrast to the literature that payoff is independent of the ordering of exercise, that the sequential exercise of real options may generate both informational and payoff externalities. We also find some surprising but interesting results such as having more information is not necessarily better.

Economics of Alaska North Slope gas utilization options

International Nuclear Information System (INIS)

Thomas, C.P.; Doughty, T.C.; Hackworth, J.H.; North, W.B.; Robertson, E.P.

1996-08-01

The recoverable natural gas available for sale in the developed and known undeveloped fields on the Alaskan North Slope (ANS) total about 26 trillion cubic feet (TCF), including 22 TCF in the Prudhoe Bay Unit (PBU) and 3 TCF in the undeveloped Point Thomson Unit (PTU). No significant commercial use has been made of this large natural gas resource because there are no facilities in place to transport this gas to current markets. To date the economics have not been favorable to support development of a gas transportation system. However, with the declining trend in ANS oil production, interest in development of this huge gas resource is rising, making it important for the U.S. Department of Energy, industry, and the State of Alaska to evaluate and assess the options for development of this vast gas resource. The purpose of this study was to assess whether gas-to-liquids (GTL) conversion technology would be an economic alternative for the development and sale of the large, remote, and currently unmarketable ANS natural gas resource, and to compare the long term economic impact of a GTL conversion option to that of the more frequently discussed natural gas pipeline/liquefied natural gas (LNG) option. The major components of the study are: an assessment of the ANS oil and gas resources; an analysis of conversion and transportation options; a review of natural gas, LNG, and selected oil product markets; and an economic analysis of the LNG and GTL gas sales options based on publicly available input needed for assumptions of the economic variables. Uncertainties in assumptions are evaluated by determining the sensitivity of project economics to changes in baseline economic variables

Options Evaluation for Remediation of the Gunnar Site Using a Decision- Tree Approach

Energy Technology Data Exchange (ETDEWEB)

Yankovich, Tamara L. [International Atomic Energy Agency, P.O. Box 100, 1400 Vienna (Austria); Hachkowski, Andrea [CH2M Hill Canada Limited, 1305 Kenaston Blvd, Winnipeg, Manitoba, R3P 2P2 (Canada); Klyashtorin, Alexey [Saskatchewan Research Council, 15 Innovation Blvd no.125, Saskatoon, Saskatchewan, S7N 2X8 (Canada)

2014-07-01

Current best practice in the nuclear industry involves proactive planning of activities from cradle-to-grave over the entire nuclear life cycle in accordance with national requirements and international guidance. This includes the development of detailed decommissioning plans (DDP) at an early stage to facilitate proactive, responsible decision-making as activities are being planned. It should be noted, however, that the current approach may not be applicable to historic nuclear legacy sites, such as abandoned uranium mines and mills, which had operated in the past under less stringent regulatory regimes. In such cases, records documenting past activities are often not available and monitoring data may not have been collected, thereby limiting knowledge of impacts related to past activities. This can lead to challenges in gaining regulatory and funding approvals related to the remediation of such sites, especially given the costs that can be associated with remediation and the uncertainties in characterizing the existing situation. The Gunnar Site, in northern Saskatchewan, is an example of an abandoned uranium mine/mill site, which was operated between the late 1950's to early 1960's under a different regulatory regime than today. Due to the lack of monitoring data and records for the site, and the corresponding uncertainties, a number of precedent-setting approaches have been developed and applied, as part of the environmental impact assessment (EIA) process. Specifically, unlike traditional environmental assessments for planned and operating facilities, it was not possible to identify a preferred and alternative remedial option. Instead, a step-wise decision-tree approach has been developed to identify all potentially feasible remedial options and to map out key decision points, during the licensing phase of the project (following approval of the environmental assessment), when final remedial options will be selected. The presentation will provide

Study of an integrated electronic monitor for neutron beams

International Nuclear Information System (INIS)

Barelaud, B.; Nexon-Mokhtari, F.; Barrau, C.; Decossac, J.L.; Vareille, J.C.; Sarrabayrouse, G.

1994-01-01

Many neutron beams monitors in 10 keV - 50 keV range are perturbed by gamma radiation impact. This new monitor uses two silicon (junction) diodes operating coincidence detection, combined with an electronic threshold to eliminate gamma background noise. The results and analyses presented here only concern feasibility studies. (D.L.)

The Study on Policy Options for Siting Hazardous Energy Facility

Energy Technology Data Exchange (ETDEWEB)

Kim, Jin Oh [Korea Energy Economics Institute, Euiwang (Korea)

2000-10-01

The problem of site allocation on locally unwanted land uses related to energy utilities that extended most recently is becoming a new energy policy issue due to the improvement of national standard of living and livelihood quality. Residents do not generally agree on establishing the construction of public energy utilities in their village due to NIMBY syndrome while they basically agree to have them. These circumstances made a big problem against mass production of industry society and the improvement of the national welfare. Locally unwanted land use related to energy utilities includes waste incineration system, nuclear power plant, coal fired power plant, oil and Gas storage tank, briquette manufacturing plant and etc. Opportunity for SOC projects carried out by central and local government is lost because of the regional egoism. The site dispute between government and residents obstructs optimal energy supply to be necessary for industry growth and the national welfare. The main objective of this study is to propose the policy option for finding a solution after surveying theory and background of site troubles and dispute factors. Final results of this study propose a solution on structural and institutional dispute. The former introduces three kinds of approaches such as tradition, compensation and negotiation. The transition of an environmentally sound energy consumption pattern and the improvement of energy efficiency could be carried out by traditional approaches. To claim the damage and offer the accommodation facilities could be settled by compensational approaches. The establishment of regional decentralization on NIMBY facilities could be settled by negotiatory approaches through fair share criteria. The latter proposes 1) 'polluter pays principle', 2) internalization of social cost and benefit on air or water pollution, 3) the behind - the - scene negotiation in a bid to settle a site dispute, 4) and supporting system for peripheral areas

Options for support to agriculture and food security under climate change

International Nuclear Information System (INIS)

Vermeulen, S.J.; Aggarwal, P.K.; Ainslie, A.; Angelone, C.; Campbell, B.M.; Challinor, A.J.; Hansen, J.W.

2012-01-01

Agriculture and food security are key sectors for intervention under climate change. Agricultural production is highly vulnerable even to 2C (low-end) predictions for global mean temperatures in 2100, with major implications for rural poverty and for both rural and urban food security. Agriculture also presents untapped opportunities for mitigation, given the large land area under crops and rangeland, and the additional mitigation potential of aquaculture. This paper presents a summary of current knowledge on options to support farmers, particularly smallholder farmers, in achieving food security through agriculture under climate change. Actions towards adaptation fall into two broad overlapping areas: (1) accelerated adaptation to progressive climate change over decadal time scales, for example integrated packages of technology, agronomy and policy options for farmers and food systems, and (2) better management of agricultural risks associated with increasing climate variability and extreme events, for example improved climate information services and safety nets. Maximization of agriculture's mitigation potential will require investments in technological innovation and agricultural intensification linked to increased efficiency of inputs, and creation of incentives and monitoring systems that are inclusive of smallholder farmers. Food systems faced with climate change need urgent, broad-based action in spite of uncertainties.

Nonsurgical Treatment Options for Basal Cell Carcinoma

International Nuclear Information System (INIS)

Lien, M. H.; Sondak, V. K.; Sondak, V. K.

2011-01-01

Basal cell carcinoma (BCC) remains the most common form of non melanoma skin cancer (NMSC) in Caucasians, with perhaps as many as 2 million new cases expected to occur in the United States in 2010. Many treatment options, including surgical interventions and nonsurgical alternatives, have been utilized to treat BCC. In this paper, two non-surgical options, imiquimod therapy and photodynamic therapy (PDT), will be discussed. Both modalities have demonstrated acceptable disease control rates, cosmetically superior outcomes, and short-term cost-effectiveness. Further studies evaluating long-term cure rates and long-term cost effectiveness of imiquimod therapy and PDT are needed.

17 CFR 33.3 - Unlawful commodity option transactions.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Unlawful commodity option... REGULATION OF DOMESTIC EXCHANGE-TRADED COMMODITY OPTION TRANSACTIONS § 33.3 Unlawful commodity option... of, or maintain a position in, any commodity option transaction subject to the provisions of this...

The Real Options Attached to an Investment Project

Directory of Open Access Journals (Sweden)

Mihai-Cristian DINICĂ

2011-12-01

Full Text Available The real options capture the importance of the managerial team’s role in creating value through investment projects. The investments in real assets have a set of options that managers can exercise during the period of the project to increase the value of the assets or to limit the eventual losses. This options have their own value.The traditional methods for investment project evaluatioan, based on discounted cash flows, have some major disadvantages: they assume the irreversibility of a decision, do not take into account the interactions between decisions in several periods and treat the investment as pasive. The evaluation using real options undertake this disadvantage. The paper shows the main types of real options, together with their elements and captures the impact of these options on the value of the investment. The main two models used to evaluate real options, the binomial model and Black-Scholes model, are explained and used to compute the value of real options attached to an investment project.

Options for Steam Generator Decommissioning

International Nuclear Information System (INIS)

Krause, Gregor; Amcoff, Bjoern; Robinson, Joe

2016-01-01

Selecting the best option for decommissioning steam generators is a key consideration in preparing for decommissioning PWR nuclear power plants. Steam Generators represent a discrete waste stream of large, complex items that can lend themselves to a variety of options for handling, treatment, recycling and disposal. Studsvik has significant experience in processing full size Steam Generators at its metal recycling facility in Sweden, and this paper will introduce the Studsvik steam generator treatment concept and the results achieved to date across a number of projects. The paper will outline the important parameters needed at an early stage to assess options and to help consider the balance between off-site and on-site treatment solutions, and the role of prior decontamination techniques. The paper also outlines the use of feasibility studies and demonstration projects that have been used to help customers prepare for decommissioning. The paper discusses physical, radiological and operational history data, Pro and Contra factors for on- and off-site treatment, the role of chemical decontamination prior to treatment, planning for off-site shipments as well as Studsvik experience This paper has an original focus upon the coming challenges of steam generator decommissioning and potential external treatment capacity constraints in the medium term. It also focuses on the potential during operations or initial shut-down to develop robust plans for steam generator management. (authors)

Study of an integrated electronic monitor for neutron beams

Energy Technology Data Exchange (ETDEWEB)

Barelaud, B.; Nexon-Mokhtari, F.; Barrau, C.; Decossac, J.L.; Vareille, J.C. [Limoges Univ., 87 (France); Sarrabayrouse, G. [Centre National de la Recherche Scientifique (CNRS), 31 - Toulouse (France). Lab. d`Automatique et d`Analyse des Systemes

1994-12-31

Many neutron beams monitors in 10 keV - 50 keV range are perturbed by gamma radiation impact. This new monitor uses two silicon (junction) diodes operating coincidence detection, combined with an electronic threshold to eliminate gamma background noise. The results and analyses presented here only concern feasibility studies. (D.L.). 11 refs.

Women's experiences of three early miscarriage management options: a qualitative study.

Science.gov (United States)

Smith, Lindsay F; Frost, Julia; Levitas, Ruth; Bradley, Harriet; Garcia, Jo

2006-03-01

Miscarriage affects around one in six pregnancies. Much research has taken place identifying the consequences of this for parents but is mainly quantitative. Of the limited qualitative studies, none have explored women's experiences of the methods of miscarriage management received. To assess the social and personal impact of different management methods (expectant, medical and surgical) on women's experience of first trimester miscarriage. Qualitative interviews using a topic guide with a purposive cohort of four categories of women (each management method plus non-participants) 6 months to 1 year after first trimester miscarriage. Focus groups with both research participants and health workers. Women from three hospitals in the South West of England that participated in the Miscarriage Treatment (MIST) trial. Seventy-two interviews were undertaken between September 1999 and June 2000. There were also five focus groups (47 participants) and two feedback sessions (8 participants) with written feedback from 12 women. Interviews lasted 0.5-2.5 hours generating over 2000 A4 pages of transcripts. The transcripts were analysed for common themes, using standard proformas, which were filled in by individual team members and then discussed by the whole research team. Iterative readings in the light of new emerging issues ensured that new themes could be identified throughout the analytical process. All transcripts were then encoded for the identified themes using NUDIST. Common themes emerged across all management options although some were specific to just one or two management options. The five major themes arising out of the data analysis were: intervention; experiences of care; finality; the 'baby'; and pain and bleeding. Women's experiences and beliefs vary widely and their preferences need to be considered in their early miscarriage management. The three methods have different benefits and problems from the women's point of view. Competence and caring from

Reuse of drainage water in the Nile Delta; monitoring, modelling and analysis; final report Reuse of Drainage Water Project

NARCIS (Netherlands)

Staring Centrum, Instituut voor Onderzoek van het LandelijkGebied

1995-01-01

The effects of reusing drainage water have been evaluated and other options to increase the water utilization rate in Egypt explored. The results are an operational network for monitoring drainage water discharges and salinity along the major drains, a database for monitored drainage water

17 CFR 32.3 - Unlawful commodity option transactions.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Unlawful commodity option... REGULATION OF COMMODITY OPTION TRANSACTIONS § 32.3 Unlawful commodity option transactions. (a) On and after... extend credit in lieu thereof) from an option customer as payment of the purchase price in connection...

40 CFR 35.6345 - Equipment disposal options.

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Equipment disposal options. 35.6345 Section 35.6345 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY GRANTS AND OTHER FEDERAL... options. The following disposal options are available: (a) Use the equipment on another CERCLA project and...

Incentive effects of performance-vested stock options

NARCIS (Netherlands)

Kuang, Y.

2007-01-01

The vesting of traditional stock options (TSOs) only depends on the passage of time and managerial compensation might merely reflect price increases in a rising market. As a reform on traditional stock option plans, performance targets have been introduced as a condition for option vesting. The use

Bayesian Option Pricing Framework with Stochastic Volatility for FX Data

Directory of Open Access Journals (Sweden)

Ying Wang

2016-12-01

Full Text Available The application of stochastic volatility (SV models in the option pricing literature usually assumes that the market has sufficient option data to calibrate the model’s risk-neutral parameters. When option data are insufficient or unavailable, market practitioners must estimate the model from the historical returns of the underlying asset and then transform the resulting model into its risk-neutral equivalent. However, the likelihood function of an SV model can only be expressed in a high-dimensional integration, which makes the estimation a highly challenging task. The Bayesian approach has been the classical way to estimate SV models under the data-generating (physical probability measure, but the transformation from the estimated physical dynamic into its risk-neutral counterpart has not been addressed. Inspired by the generalized autoregressive conditional heteroskedasticity (GARCH option pricing approach by Duan in 1995, we propose an SV model that enables us to simultaneously and conveniently perform Bayesian inference and transformation into risk-neutral dynamics. Our model relaxes the normality assumption on innovations of both return and volatility processes, and our empirical study shows that the estimated option prices generate realistic implied volatility smile shapes. In addition, the volatility premium is almost flat across strike prices, so adding a few option data to the historical time series of the underlying asset can greatly improve the estimation of option prices.

Compound Option Pricing under Fuzzy Environment

Directory of Open Access Journals (Sweden)

Xiandong Wang

2014-01-01

Full Text Available Considering the uncertainty of a financial market includes two aspects: risk and vagueness; in this paper, fuzzy sets theory is applied to model the imprecise input parameters (interest rate and volatility. We present the fuzzy price of compound option by fuzzing the interest and volatility in Geske’s compound option pricing formula. For each α, the α-level set of fuzzy prices is obtained according to the fuzzy arithmetics and the definition of fuzzy-valued function. We apply a defuzzification method based on crisp possibilistic mean values of the fuzzy interest rate and fuzzy volatility to obtain the crisp possibilistic mean value of compound option price. Finally, we present a numerical analysis to illustrate the compound option pricing under fuzzy environment.

Surgical options in benign parotid tumors: a proposal for classification.

Science.gov (United States)

Quer, Miquel; Vander Poorten, Vincent; Takes, Robert P; Silver, Carl E; Boedeker, Carsten C; de Bree, Remco; Rinaldo, Alessandra; Sanabria, Alvaro; Shaha, Ashok R; Pujol, Albert; Zbären, Peter; Ferlito, Alfio

2017-11-01

Different surgical options are currently available for treating benign tumors of the parotid gland, and the discussion on optimal treatment continues despite several meta-analyses. These options include more limited resections (extracapsular dissection, partial lateral parotidectomy) versus more extensive and traditional options (lateral parotid lobectomy, total parotidectomy). Different schools favor one option or another based on their experience, skills and tradition. This review provides a critical analysis of the literature regarding these options. The main limitation of all the studies is the bias of selection for different surgical approaches. For this reason, we propose a staging system that could facilitate clinical decision making and the comparison of results. We propose four categories based on the size of the tumor and its location within the parotid gland. Category I includes tumors up to 3 cm, which are mobile, close to the outer surface and close to the parotid borders. Category II includes deeper tumors up to 3 cm. Category III comprises tumors greater than 3 cm involving two levels of the parotid gland, and category IV tumors are greater than 3 cm and involve more than 2 levels. For each category and for the various pathologic types, a guideline of surgical extent is proposed. The objective of this classification is to facilitate prospective multicentric studies on surgical techniques in the treatment of benign parotid tumors and to enable the comparison of results of different clinical studies.

Safeguard monitoring of direct electrolytic reduction

Science.gov (United States)

Jurovitzki, Abraham L.

Nuclear power is regaining global prominence as a sustainable energy source as the world faces the consequences of depending on limited fossil based, CO2 emitting fuels. A key component to achieving this sustainability is to implement a closed nuclear fuel cycle. Without achieving this goal, a relatively small fraction of the energy value in nuclear fuel is actually utilized. This involves recycling of spent nuclear fuel (SNF)---separating fissile actinides from waste products and using them to fabricate fresh fuel. Pyroprocessing is a viable option being developed for this purpose with a host of benefits compared to other recycling options, such as PUREX. Notably, pyroprocessing is ill suited to separate pure plutonium from spent fuel and thus has non-proliferation benefits. Pyroprocessing involves high temperature electrochemical and chemical processing of SNF in a molten salt electrolyte. During this batch process, several intermediate and final streams are produced that contain radioactive material. While pyroprocessing is ineffective at separating pure plutonium, there are various process misuse scenarios that could result in diversion of impure plutonium into one or more of these streams. This is a proliferation risk that should be addressed with innovative safeguards technology. One approach to meeting this challenge is to develop real time monitoring techniques that can be implemented in the hot cells and coupled with the various unit operations involved with pyroprocessing. Current state of the art monitoring techniques involve external chemical assaying which requires sample removal from these unit operations. These methods do not meet International Atomic Energy Agency's (IAEA) timeliness requirements. In this work, a number of monitoring techniques were assessed for their viability as online monitoring tools. A hypothetical diversion scenario for the direct electrolytic reduction process was experimentally verified (using Nd2O3 as a surrogate for PuO2

7 CFR 457.172 - Coverage Enhancement Option.

Science.gov (United States)

2010-01-01

... 7 Agriculture 6 2010-01-01 2010-01-01 false Coverage Enhancement Option. 457.172 Section 457.172..., DEPARTMENT OF AGRICULTURE COMMON CROP INSURANCE REGULATIONS § 457.172 Coverage Enhancement Option. The Coverage Enhancement Option for the 2009 and succeeding crop years are as follows: FCIC policies: United...

Delta-gamma-theta Hedging of Crude Oil Asian Options

Directory of Open Access Journals (Sweden)

Juraj Hruška

2015-01-01

Full Text Available Since Black-Scholes formula was derived, many methods have been suggested for vanilla as well as exotic options pricing. More of investing and hedging strategies have been developed based on these pricing models. Goal of this paper is to derive delta-gamma-theta hedging strategy for Asian options and compere its efficiency with gamma-delta-theta hedging combined with predictive model. Fixed strike Asian options are type of exotic options, whose special feature is that payoff is calculated from the difference of average market price and strike price for call options and vice versa for the put options. Methods of stochastic analysis are used to determine deltas, gammas and thetas of Asian options. Asian options are cheaper than vanilla options and therefore they are more suitable for precise portfolio creation. On the other hand their deltas are also smaller as well as profits. That means that they are also less risky and more suitable for hedging. Results, conducted on chosen commodity, confirm better feasibility of Asian options compering with vanilla options in sense of gamma hedging.

48 CFR 552.217-70 - Evaluation of Options.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Evaluation of Options. 552... Evaluation of Options. As prescribed in 517.208(a), insert the following provision: Evaluation of Options... period price. When option year pricing is based on a formula (e.g., changes in the Producer Price Index...

14 CFR 380.33a - Operator's option plan.

Science.gov (United States)

2010-01-01

... 14 Aeronautics and Space 4 2010-01-01 2010-01-01 false Operator's option plan. 380.33a Section 380... option plan. (a) For the purposes of this part, an operator's option plan contract that states... flight leg. (b) Operator's option plan contracts shall state, in addition to the information required by...

24 CFR 206.26 - Change in payment option.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Change in payment option. 206.26... in payment option. (a) General. The payment option may be changed as provided in this section. (b... credit payment option. Until the repairs are completed, the mortgagee shall make no line of credit...

5 CFR 870.704 - Amount of Option A.

Science.gov (United States)

2010-01-01

... 5 Administrative Personnel 2 2010-01-01 2010-01-01 false Amount of Option A. 870.704 Section 870... of Option A. (a) The amount of Option A coverage an annuitant or compensationer can continue is $10,000. (b) An annuitant's or compensationer's Option A coverage reduces by 2 percent of the original...

Research into real-option evaluation method

International Nuclear Information System (INIS)

Shiba, Tsuyoshi; Wakamatsu, Hitoshi

2002-03-01

As an evaluational method for valuation of a corporation, an investment project, a research and development, or the evaluation technique of an enterprise strategy, a real option analysis attracts attention instead of conventional Discount Cash Flow method. The reason is that it can divert the technique for the option valuation in financial engineering to the decision-making process performed according to change in investment environment. Related references, the analysis tools, the application examples, etc. were investigated about the decision-making technique using real option analysis, and this investigation considered the application method to decision-making of the research and development at Japan Nuclear Cycle Development Institute. Consequently, since the feature is in real option analysis being the evaluation technique on condition of that business conditions and business itself also change, the real option analysis fits for evaluation of a research and development that business conditions were opaque and it turns out that the businesses are highly flexible. Moreover, it turns out that it fits also for evaluation of a capital concentration type investment issue like power plants. (author)

Upgrading and Strategic Options of Garment Producers in the Global Value Chain

DEFF Research Database (Denmark)

Sørensen, Olav Jull; Kuada, John; Schaumburg-Müller, Henrik

2006-01-01

Focus of this study of the garment industry in Malaysia, Vietnam and Ghana is on the industry's position in the global value chain and the strategic options available for the local garment producers. The study indicates a number of optional strategies for the entreprenurial garment producers....

A Pilot Study on Applying Option 2 to Two Systems in the UCN 3, 4 - HPSI, ESWS

International Nuclear Information System (INIS)

Kim, Kil Yoo; Kang, D. I.; Hwang, M J.; Yang, J. E.

2005-04-01

This report describes the Option 2 method applied to high pressure safety injection system(HPSI) and essential service water system(ESW) UCN 3,4 based on the U.S NEI 00-04 Option 2 methodology. Thus, in the Option 2 applications under the 10 CFR 50.69 requirement, the special treatment requirements for 'RISC-3' SSCs could be relaxed, while the regulartory requirements for 'RISC-2' SSCs will be enhanced. The results of Option 2 applications for the two systems of UCN 3,4 show that 161 out of 277 safety related SSCs can be treated with relaxed requirements in the HPSI, while 20 non-safety related SSCs should be treated with special treatment requirements. Also, in the ESW, special treatment requirements for the 121 out of 238 safety related SSCs can be relaxed, and new special treatments are required for 4 non-safety related SSCs

32 CFR 48.203 - Election of options.

Science.gov (United States)

2010-07-01

... 32 National Defense 1 2010-07-01 2010-07-01 false Election of options. 48.203 Section 48.203 National Defense Department of Defense OFFICE OF THE SECRETARY OF DEFENSE PERSONNEL, MILITARY AND CIVILIAN RETIRED SERVICEMAN'S FAMILY PROTECTION PLAN Election of Options § 48.203 Election of options. (a) A member...

45 CFR 1306.32 - Center-based program option.

Science.gov (United States)

2010-10-01

... 45 Public Welfare 4 2010-10-01 2010-10-01 false Center-based program option. 1306.32 Section 1306... START PROGRAM HEAD START STAFFING REQUIREMENTS AND PROGRAM OPTIONS Head Start Program Options § 1306.32 Center-based program option. (a) Class size. (1) Head Start classes must be staffed by a teacher and an...

Accounting treatment of currency options

Directory of Open Access Journals (Sweden)

Prošić Danica

2016-01-01