Sample records for response option catii
-
49 CFR 190.209 - Response options.
2010-10-01
... 49 Transportation 3 2010-10-01 2010-10-01 false Response options. 190.209 Section 190.209 Transportation Other Regulations Relating to Transportation (Continued) PIPELINE AND HAZARDOUS MATERIALS SAFETY... PROCEDURES Enforcement § 190.209 Response options. Within 30 days of receipt of a notice of probable...
-
Option value of electricity demand response
Energy Technology Data Exchange (ETDEWEB)
Sezgen, Osman; Goldman, C.A. [Lawrence Berkeley National Laboratory, 1 Cyclotron Road, Berkeley CA 94720 (United States); Krishnarao, P. [Citigroup Energy Inc., 1301 Fannin St, Houston, TX 77002 (United States)
2007-02-15
As electricity markets deregulate and energy tariffs increasingly expose customers to commodity price volatility, it is difficult for energy consumers to assess the economic value of investments in technologies that manage electricity demand in response to changing energy prices. The key uncertainties in evaluating the economics of demand-response technologies are the level and volatility of future wholesale energy prices. In this paper, we demonstrate that financial engineering methodologies originally developed for pricing equity and commodity derivatives (e.g., futures, swaps, options) can be used to estimate the value of demand-response technologies. We adapt models used to value energy options and assets to value three common demand-response strategies: load curtailment, load shifting or displacement, and short-term fuel substitution-specifically, distributed generation. These option models represent an improvement to traditional discounted cash flow methods for assessing the relative merits of demand-side technology investments in restructured electricity markets. (author)
-
Option value of electricity demand response
International Nuclear Information System (INIS)
Sezgen, Osman; Goldman, C.A.; Krishnarao, P.
2007-01-01
As electricity markets deregulate and energy tariffs increasingly expose customers to commodity price volatility, it is difficult for energy consumers to assess the economic value of investments in technologies that manage electricity demand in response to changing energy prices. The key uncertainties in evaluating the economics of demand-response technologies are the level and volatility of future wholesale energy prices. In this paper, we demonstrate that financial engineering methodologies originally developed for pricing equity and commodity derivatives (e.g., futures, swaps, options) can be used to estimate the value of demand-response technologies. We adapt models used to value energy options and assets to value three common demand-response strategies: load curtailment, load shifting or displacement, and short-term fuel substitution-specifically, distributed generation. These option models represent an improvement to traditional discounted cash flow methods for assessing the relative merits of demand-side technology investments in restructured electricity markets. (author)
-
Designing Pareto-superior demand-response rate options
International Nuclear Information System (INIS)
Horowitz, I.; Woo, C.K.
2006-01-01
We explore three voluntary service options-real-time pricing, time-of-use pricing, and curtailable/interruptible service-that a local distribution company might offer its customers in order to encourage them to alter their electricity usage in response to changes in the electricity-spot-market price. These options are simple and practical, and make minimal information demands. We show that each of the options is Pareto-superior ex ante, in that it benefits both the participants and the company offering it, while not affecting the non-participants. The options are shown to be Pareto-superior ex post as well, except under certain exceptional circumstances. (author)
-
CORPORATE SOCIAL RESPONSIBILITY: OPTIONAL OR REGULATORY
Directory of Open Access Journals (Sweden)
MIHAELA IRINA IONESCU
2012-05-01
Full Text Available Given the collateral activity developed and the economic background of the present author I took the approach of a topic that includes aspects from both fields, namely “Corporate Social responsibility- optional or regulatory”. Through the paper I will try to summarize the pros and cons of regulation, mandatory of corporate social responsibility and to review, present the ways in which countries with advanced economies in European Union and the EU itself have addressed this issue.
-
van Laerhoven, H.; van der Zaag-Loonen, H. J.; Derkx, B. H. F.
2004-01-01
Aim: To examine which response options children prefer and which they find easiest to use, and to study the relative reliability of the different response options. Methods: A consecutive group of unselected children (n = 120) filled out three questionnaires in a paediatric outpatient clinic. Each
-
All of the above: When multiple correct response options enhance the testing effect.
Bishara, Anthony J; Lanzo, Lauren A
2015-01-01
Previous research has shown that multiple choice tests often improve memory retention. However, the presence of incorrect lures often attenuates this memory benefit. The current research examined the effects of "all of the above" (AOTA) options. When such options are correct, no incorrect lures are present. In the first three experiments, a correct AOTA option on an initial test led to a larger memory benefit than no test and standard multiple choice test conditions. The benefits of a correct AOTA option occurred even without feedback on the initial test; for both 5-minute and 48-hour retention delays; and for both cued recall and multiple choice final test formats. In the final experiment, an AOTA question led to better memory retention than did a control condition that had identical timing and exposure to response options. However, the benefits relative to this control condition were similar regardless of the type of multiple choice test (AOTA or not). Results suggest that retrieval contributes to multiple choice testing effects. However, the extra testing effect from a correct AOTA option, rather than being due to more retrieval, might be due simply to more exposure to correct information.
-
Indian Academy of Sciences (India)
-TUBERCULOSIS DRUG RESISTANCE (CAT-II) · MDR and X-DR rates – Indian scenario · Strategies being followed in India to face challenge of drug resistance in tuberculosis · Conventional versus newer methods for detection of drug ...
-
Schneid, Stephen D; Armour, Chris; Park, Yoon Soo; Yudkowsky, Rachel; Bordage, Georges
2014-10-01
Despite significant evidence supporting the use of three-option multiple-choice questions (MCQs), these are rarely used in written examinations for health professions students. The purpose of this study was to examine the effects of reducing four- and five-option MCQs to three-option MCQs on response times, psychometric characteristics, and absolute standard setting judgements in a pharmacology examination administered to health professions students. We administered two versions of a computerised examination containing 98 MCQs to 38 Year 2 medical students and 39 Year 3 pharmacy students. Four- and five-option MCQs were converted into three-option MCQs to create two versions of the examination. Differences in response time, item difficulty and discrimination, and reliability were evaluated. Medical and pharmacy faculty judges provided three-level Angoff (TLA) ratings for all MCQs for both versions of the examination to allow the assessment of differences in cut scores. Students answered three-option MCQs an average of 5 seconds faster than they answered four- and five-option MCQs (36 seconds versus 41 seconds; p = 0.008). There were no significant differences in item difficulty and discrimination, or test reliability. Overall, the cut scores generated for three-option MCQs using the TLA ratings were 8 percentage points higher (p = 0.04). The use of three-option MCQs in a health professions examination resulted in a time saving equivalent to the completion of 16% more MCQs per 1-hour testing period, which may increase content validity and test score reliability, and minimise construct under-representation. The higher cut scores may result in higher failure rates if an absolute standard setting method, such as the TLA method, is used. The results from this study provide a cautious indication to health professions educators that using three-option MCQs does not threaten validity and may strengthen it by allowing additional MCQs to be tested in a fixed amount
-
Directory of Open Access Journals (Sweden)
Avik Basu
2015-09-01
Full Text Available The Delphi technique is a means of facilitating discussion among experts in order to develop consensus, and can be used for policy formulation. This article describes a modified Delphi approach in which 27 multi-disciplinary academics and 22 stakeholders from Ghana and North America were polled about ways to address negative effects of small-scale gold mining (ASGM in Ghana. In early 2014, the academics, working in disciplinary groups, synthesized 17 response options based on data aggregated during an Integrated Assessment of ASGM in Ghana. The researchers participated in two rounds of Delphi polling in March and April 2014, during which 17 options were condensed into 12. Response options were rated via a 4-point Likert scale in terms of benefit (economic, environmental, and benefit to people and feasibility (economic, social/cultural, political, and implementation. The six highest-scoring options populated a third Delphi poll, which 22 stakeholders from diverse sectors completed in April 2015. The academics and stakeholders also prioritized the response options using ranking exercises. The technique successfully gauged expert opinion on ASGM, and helped identify potential responses, policies and solutions for the sector. This is timely given that improvement to the ASGM sector is an important component within the UN Minamata Convention.
-
Basu, Avik; Phipps, Sean; Long, Rachel; Essegbey, George; Basu, Niladri
2015-09-10
The Delphi technique is a means of facilitating discussion among experts in order to develop consensus, and can be used for policy formulation. This article describes a modified Delphi approach in which 27 multi-disciplinary academics and 22 stakeholders from Ghana and North America were polled about ways to address negative effects of small-scale gold mining (ASGM) in Ghana. In early 2014, the academics, working in disciplinary groups, synthesized 17 response options based on data aggregated during an Integrated Assessment of ASGM in Ghana. The researchers participated in two rounds of Delphi polling in March and April 2014, during which 17 options were condensed into 12. Response options were rated via a 4-point Likert scale in terms of benefit (economic, environmental, and benefit to people) and feasibility (economic, social/cultural, political, and implementation). The six highest-scoring options populated a third Delphi poll, which 22 stakeholders from diverse sectors completed in April 2015. The academics and stakeholders also prioritized the response options using ranking exercises. The technique successfully gauged expert opinion on ASGM, and helped identify potential responses, policies and solutions for the sector. This is timely given that improvement to the ASGM sector is an important component within the UN Minamata Convention.
-
Basu, Avik; Phipps, Sean; Long, Rachel; Essegbey, George; Basu, Niladri
2015-01-01
The Delphi technique is a means of facilitating discussion among experts in order to develop consensus, and can be used for policy formulation. This article describes a modified Delphi approach in which 27 multi-disciplinary academics and 22 stakeholders from Ghana and North America were polled about ways to address negative effects of small-scale gold mining (ASGM) in Ghana. In early 2014, the academics, working in disciplinary groups, synthesized 17 response options based on data aggregated during an Integrated Assessment of ASGM in Ghana. The researchers participated in two rounds of Delphi polling in March and April 2014, during which 17 options were condensed into 12. Response options were rated via a 4-point Likert scale in terms of benefit (economic, environmental, and benefit to people) and feasibility (economic, social/cultural, political, and implementation). The six highest-scoring options populated a third Delphi poll, which 22 stakeholders from diverse sectors completed in April 2015. The academics and stakeholders also prioritized the response options using ranking exercises. The technique successfully gauged expert opinion on ASGM, and helped identify potential responses, policies and solutions for the sector. This is timely given that improvement to the ASGM sector is an important component within the UN Minamata Convention. PMID:26378557
-
When Do Firms Invest in Corporate Social Responsibility? : A Real Option Framework
Cassimon, D.; Engelen, P.J.; Liedekerke, L.
2014-01-01
In this paper, the process for firms to decide whether or not to invest in corporate social responsibility is treated from a real option perspective. We extend the Husted (2005) framework with an important extra parameter that allows us to understand the timing of CSR investment and explain why some
-
International Nuclear Information System (INIS)
Fearnside, P.M.
1995-01-01
A project-level assessment of monetary and carbon costs and benefits for five classes of global warming response options in the forest sector is attempted for typical Brazilian conditions. Options considered are: silvicultural plantations (for pulp, charcoal and sawlogs), sustainable timber management and reduction of deforestation. Comparison of pulpwood and sawlog plantations with the vegetation characteristic of deforested areas indicates of modest carbon benefit. Plantations for charcoal can produce a substantial carbon benefit through fossil fuel substitution, but much of this calculated benefit disappears if discount rates greater than zero are applied to carbon. Sustainable timber management, when compared with existing forest, represents a net carbon loss, accumulation of carbon in wood products being insufficient to compensate for biomass reduction over a 100 year time scale. Reduction of deforestation has great potential as a global warming response option, its per-hectare carbon benefits being approximately four times that of silvicultural plantation establishment for pulp and sawlogs over a 100 year period. The costs of reducing deforestation are difficult to assess, however, due to the importance of government policy changes such as removal of land speculation and land tenure establishment as motives for clearing. Although these changes would not cost money and would have tremendous carbon and other benefits, they have not yet occurred. (Author)
-
Bosch-Badia, Maria-Teresa; Montllor-Serrats, Joan; Tarrazon-Rodon, Maria-Antonia
2015-01-01
In contemporary complex societies, social values like ethics, corporate social responsibility, and being respectful with the environment, among others, are becoming social requirements. Corporations are expected to fulfill them and, according to empirical evidence, an overwhelming majority aspires to good social valuation. At the same time, the maximization of market share value in the long run continues to be the central corporate goal. Making environmental and social expenses compatible with value creation is a central challenge for corporations since it implies the financial sustainability of Corporate Social Responsibility (CSR). The value creation capacity of CSR projects, mainly through innovation, is widely acknowledged in economic literature and corporate practice. This fact arouses the need of having a quantitative framework capable of summarizing the value creation capacity of the variables involved in CSR projects. With this aim we build up a sensitivity analysis of real option ratios that studies and quantifies the value creation capacity of CSR projects connected with innovation. Ratio analysis has the advantage of being scale independent. Hence, it furnishes a homogeneous framework to express the interaction of value creation variables and, thus, supports strategic thinking quantitatively. Often, CSR expenses can be regarded as preliminary projects that create the opportunity to undertake a full future project. For them, we obtain the minimum expectations scenario that makes financially sustainable a preliminary project that can be interpreted as a call option. We propose a classification of CSR projects from the decision analysis perspective following a two-fold approach: Their relationship with value creation and their links with existing corporate activities. This classification of CSR projects aims at contributing to choose the best capital budgeting method to study the financial sustainability of the project and identifying those CSR projects
-
Directory of Open Access Journals (Sweden)
Maria-Teresa Bosch-Badia
Full Text Available In contemporary complex societies, social values like ethics, corporate social responsibility, and being respectful with the environment, among others, are becoming social requirements. Corporations are expected to fulfill them and, according to empirical evidence, an overwhelming majority aspires to good social valuation. At the same time, the maximization of market share value in the long run continues to be the central corporate goal. Making environmental and social expenses compatible with value creation is a central challenge for corporations since it implies the financial sustainability of Corporate Social Responsibility (CSR.The value creation capacity of CSR projects, mainly through innovation, is widely acknowledged in economic literature and corporate practice. This fact arouses the need of having a quantitative framework capable of summarizing the value creation capacity of the variables involved in CSR projects. With this aim we build up a sensitivity analysis of real option ratios that studies and quantifies the value creation capacity of CSR projects connected with innovation. Ratio analysis has the advantage of being scale independent. Hence, it furnishes a homogeneous framework to express the interaction of value creation variables and, thus, supports strategic thinking quantitatively. Often, CSR expenses can be regarded as preliminary projects that create the opportunity to undertake a full future project. For them, we obtain the minimum expectations scenario that makes financially sustainable a preliminary project that can be interpreted as a call option. We propose a classification of CSR projects from the decision analysis perspective following a two-fold approach: Their relationship with value creation and their links with existing corporate activities. This classification of CSR projects aims at contributing to choose the best capital budgeting method to study the financial sustainability of the project and identifying
-
Sirota, Miroslav; Juanchich, Marie
2018-03-27
The Cognitive Reflection Test, measuring intuition inhibition and cognitive reflection, has become extremely popular because it reliably predicts reasoning performance, decision-making, and beliefs. Across studies, the response format of CRT items sometimes differs, based on the assumed construct equivalence of tests with open-ended versus multiple-choice items (the equivalence hypothesis). Evidence and theoretical reasons, however, suggest that the cognitive processes measured by these response formats and their associated performances might differ (the nonequivalence hypothesis). We tested the two hypotheses experimentally by assessing the performance in tests with different response formats and by comparing their predictive and construct validity. In a between-subjects experiment (n = 452), participants answered stem-equivalent CRT items in an open-ended, a two-option, or a four-option response format and then completed tasks on belief bias, denominator neglect, and paranormal beliefs (benchmark indicators of predictive validity), as well as on actively open-minded thinking and numeracy (benchmark indicators of construct validity). We found no significant differences between the three response formats in the numbers of correct responses, the numbers of intuitive responses (with the exception of the two-option version, which had a higher number than the other tests), and the correlational patterns of the indicators of predictive and construct validity. All three test versions were similarly reliable, but the multiple-choice formats were completed more quickly. We speculate that the specific nature of the CRT items helps build construct equivalence among the different response formats. We recommend using the validated multiple-choice version of the CRT presented here, particularly the four-option CRT, for practical and methodological reasons. Supplementary materials and data are available at https://osf.io/mzhyc/ .
-
Essegbey, George O.; Sakyi-Dawson, Owuraku; Kossou, Dansou; Ouologuem, Bara; Dembele, Fidiala; Adu-Acheampong, Richard; Jiggins, Janice
2017-01-01
This paper discusses external influences on innovation platforms (IPs) and the options for effective responses. The platforms examined in this paper were conceived as vehicles for facilitating institutional change in support of innovation that benefits smallholders, in selected agro-enterprise
-
Building political will for HIV response: an operational model and strategy options.
Brinkerhoff, Derick W
2016-10-01
As global programs for HIV response look to transfer responsibility and financing increasingly to country governments, the political will to take on these responsibilities becomes increasingly prominent. However, defining and assessing political will are problematic; it involves intent and motivation, and thus is inherently difficult to observe. It is intimately connected to capacity and is contextually embedded. This article describes an operational model of political will comprised of seven components that are observable and measurable. Two case studies illustrate the application of the model and shed light on the interconnections among commitment, capacity and context: South Africa and China. Strategy options to build political will for HIV response identify possible actions for both government and civil society. Political will as a concept is most usefully viewed as integrated within larger political and bureaucratic processes, as a product of the complex array of incentives and disincentives that those processes create. However, this conclusion is not a recipe for discouragement or inaction. Agent-based conceptualizations of policy change offer a solid grounding for building political will that supports HIV policy and programs. Copyright © 2015 John Wiley & Sons, Ltd. Copyright © 2015 John Wiley & Sons, Ltd.
-
Directory of Open Access Journals (Sweden)
Alfred J. Hildreth
2013-01-01
Full Text Available Smart grids enable a two-way energy demand response capability through which a utility company offers its industrial customers various call options for energy load curtailment. If a customer has the capability to accurately determine whether to accept an offer or not, then in the case of accepting an offer, the customer can earn both an option premium to participate, and a strike price for load curtailments if requested. However, today most manufacturing companies lack the capability to make the correct contract decisions for given offers. This paper proposes a novel decision model based on activity-based costing (ABC and stochastic programming, developed to accurately evaluate the impact of load curtailments and determine as to whether or not to accept an energy load curtailment offer. The proposed model specifically targets state-transition flexible and Quality-of-Service (QoS flexible energy use activities to reduce the peak energy demand rate. An illustrative example with the proposed decision model under a call-option based energy demand response scenario is presented. As shown from the example results, the proposed decision model can be used with emerging smart grid opportunities to provide a competitive advantage to the manufacturing industry.
-
Taxing Options: Do Ceos Respond To Favorable Tax Treatment Of Stock Options?
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...
-
Energy Technology Data Exchange (ETDEWEB)
1980-02-28
Possibilities for setting up a basic and applied research program that would be responsive to the Conservation and Solar energy base needs are considered with emphasis on the area of materials research. Several organizational arrangements for the implementation of this basic and applied research program are described and analyzed. The key functions of the system such as resources allocation, and program coordination and management follow from two fundamental characteristics: assignment of lead responsibility (CS and the Office of Energy Research, ER); and nature of the organizational chain-of-command. Three options are categorized in terms of these two characteristics and discussed in detail. The first option retains lead responsibility in ER, with CS personnel exercising sign-off authority and filling the coordination role. Option 2 places lead responsibility with CS program office management, and utilizes the existing chain-of-command, but adds a Basic and Applied Research Division to each program office. Option 3 also places lead responsibility with CS, but within a new Office of Basic and Applied Research, which would include a Research Coordinator to manage interactions with ER, and Research Managers for each CS program area. (MCW)
-
78 FR 68983 - Cotton Futures Classification: Optional Classification Procedure
2013-11-18
...-AD33 Cotton Futures Classification: Optional Classification Procedure AGENCY: Agricultural Marketing... regulations to allow for the addition of an optional cotton futures classification procedure--identified and... response to requests from the U.S. cotton industry and ICE, AMS will offer a futures classification option...
-
Laplante-Lévesque, Ariane; Hickson, Louise; Worrall, Linda
2012-10-01
This study investigated how clients quantify use of hearing rehabilitation. Comparisons focused on the daily-use item of the International Outcome Inventory for Hearing Aids (IOI-HA), and for Alternative Interventions (IOI-AI). Adults with hearing impairment completed the original versions of the IOI-HA and the IOI-AI daily-use item which has five numerical response options (e.g. 1-4 hours/day) and a modified version with five word response options (e.g. 'Sometimes'). Respondents completed both IOI versions immediately after intervention completion and three months later. In total, 64 people who had obtained hearing aids completed both IOI-HA versions and 27 people who had participated in communication programs completed both IOI-AI versions. Participants reported higher scores on the modified (word) daily-use item than on the original (number) daily-use item. Participants who completed the IOI-AI did so significantly more than participants who completed the IOI-HA. This was true both after intervention completion and three months later. This study showed that comparisons between IOI-HA and IOI-AI daily-use item scores should be made with caution. Word daily-use response options are recommended for the IOI-AI (i.e. Never; Rarely; Sometimes; Often; and Almost always).
-
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
-
Treatment options for Primary CNS Lymphoma.
Laghari, Altaf Ali; Ahmed, Syed Ijlal; Jabbar, Adnan; Shamim, Muhammad Shahzad
2018-03-01
Primary CNS lymphoma (PCNSL) is a rare and aggressive brain tumour that is uniformly fatal. The rarity of the disease and the poor response to treatment makes it difficult to reach a consensus with regards to treatment options. In this review, the authors have discussed different treatment modalities used in the management of PCNSL including chemotherapy, surgery and radiation, as well as the results of recent clinical trials on treatment options for PCNSL.
-
48 CFR 552.217-71 - Notice Regarding Option(s).
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...
-
O'Neil, John
1996-01-01
Will greater school choice result in more responsive, higher quality schools and happier parents? Or will proliferating options further sort students and families by race, social class, and special interest? Increasingly, education is viewed as a private good. If parents become autonomous, self-interested consumers, erosion of common purposes and…
-
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.
-
National Forest management options in response to climate change
Forest Service U.S. Department of Agriculture
2009-01-01
The effect of climate change on ecosystem structure, function, and services will depend on the ecosystem's degree of sensitivity to climate change, the natural ability of plants and animals to adapt, and the availability of effective management options. Sensitivity to climate change is a function of ecosystem health and environmental stresses such as air pollution...
-
Valuating Privacy with Option Pricing Theory
Berthold, Stefan; Böhme, Rainer
One of the key challenges in the information society is responsible handling of personal data. An often-cited reason why people fail to make rational decisions regarding their own informational privacy is the high uncertainty about future consequences of information disclosures today. This chapter builds an analogy to financial options and draws on principles of option pricing to account for this uncertainty in the valuation of privacy. For this purpose, the development of a data subject's personal attributes over time and the development of the attribute distribution in the population are modeled as two stochastic processes, which fit into the Binomial Option Pricing Model (BOPM). Possible applications of such valuation methods to guide decision support in future privacy-enhancing technologies (PETs) are sketched.
-
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
-
Spent fuel reprocessing options
International Nuclear Information System (INIS)
2008-08-01
The objective of this publication is to provide an update on the latest developments in nuclear reprocessing technologies in the light of new developments on the global nuclear scene. The background information on spent fuel reprocessing is provided in Section One. Substantial global growth of nuclear electricity generation is expected to occur during this century, in response to environmental issues and to assure the sustainability of the electrical energy supply in both industrial and less-developed countries. This growth carries with it an increasing responsibility to ensure that nuclear fuel cycle technologies are used only for peaceful purposes. In Section Two, an overview of the options for spent fuel reprocessing and their level of development are provided. A number of options exist for the treatment of spent fuel. Some, including those that avoid separation of a pure plutonium stream, are at an advanced level of technological maturity. These could be deployed in the next generation of industrial-scale reprocessing plants, while others (such as dry methods) are at a pilot scale, laboratory scale or conceptual stage of development. In Section Three, research and development in support of advanced reprocessing options is described. Next-generation spent fuel reprocessing plants are likely to be based on aqueous extraction processes that can be designed to a country specific set of spent fuel partitioning criteria for recycling of fissile materials to advanced light water reactors or fast spectrum reactors. The physical design of these plants must incorporate effective means for materials accountancy, safeguards and physical protection. Section four deals with issues and challenges related to spent fuel reprocessing. The spent fuel reprocessing options assessment of economics, proliferation resistance, and environmental impact are discussed. The importance of public acceptance for a reprocessing strategy is discussed. A review of modelling tools to support the
-
20 CFR 416.2035 - Optional supplementation: Additional State options.
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...
-
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
-
An Ethics of Permission: A Response to the California End of Life Option Act.
Nelson, Craig
2016-01-01
An ethics of permission can be helpful in framing a response to the ethical differences surrounding the California End of Life Option Act. Law does not define morality, and reaching a moral understanding demands thorough reflection. An ethics of permission examines the ethical demands of a permissive law for both clinician and patient. Serving the good of the patient, respecting professional conscience, and following the law are three ethical elements. Although developing an ethics of permission includes these three elements, these elements do not exhaust all the moral implications involved. An ethics of permission also includes the importance of exercising professional tolerance in the honoring of clinicians who choose to participate or refuse to participate. In addition, an ethics of permission also provides insight in implementing just and fair behavior among medical professionals.
-
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.
-
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....
-
International Nuclear Information System (INIS)
Kitapbayev, Yerkin; Moriarty, John; Mancarella, Pierluigi
2015-01-01
Highlights: • We calculate the real option value of flexibility from CHP-thermal storage. • Stochastic optimal feedback control problem is solved under uncertain market prices. • Efficient real-time numerical solutions combine simulation, regression and recursion. • Clear, interpretable feedback control maps are produced for each hour of the day. • We give a realistic UK case study using projected market gas and electricity prices. - Abstract: In district energy systems powered by Combined Heat and Power (CHP) plants, thermal storage can significantly increase CHP flexibility to respond to real time market signals and therefore improve the business case of such demand response schemes in a Smart Grid environment. However, main challenges remain as to what is the optimal way to control inter-temporal storage operation in the presence of uncertain market prices, and then how to value the investment into storage as flexibility enabler. In this outlook, the aim of this paper is to propose a model for optimal and dynamic control and long term valuation of CHP-thermal storage in the presence of uncertain market prices. The proposed model is formulated as a stochastic control problem and numerically solved through Least Squares Monte Carlo regression analysis, with integrated investment and operational timescale analysis equivalent to real options valuation models encountered in finance. Outputs are represented by clear and interpretable feedback control strategy maps for each hour of the day, thus suitable for real time demand response under uncertainty. Numerical applications to a realistic UK case study with projected market gas and electricity prices exemplify the proposed approach and quantify the robustness of the selected storage solutions
-
Insert earphone calibration for hear-through options
DEFF Research Database (Denmark)
Hoffmann, Pablo F.; Christensen, Flemming; Hammershøi, Dorte
2013-01-01
A hear-through option in earphones exists when the earphone has a microphone mounted on the outside of the earphone thus allowing the user to hear the surroundings - or not. Although routing the microphone signal to the earphone driver is relatively straightforward, the physical presence of the e......A hear-through option in earphones exists when the earphone has a microphone mounted on the outside of the earphone thus allowing the user to hear the surroundings - or not. Although routing the microphone signal to the earphone driver is relatively straightforward, the physical presence...... of the earphone will modify the natural acoustics of the external ear, and some form of compensation is required to make the microphone-earphone combination acoustically transparent. Here we derive a general expression for the design target response of insert earphones with hear-through options emphasizing...
-
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.
-
Professionals' and laypersons' appreciation of various options for Class III surgical correction.
Fabré, M; Mossaz, C; Christou, P; Kiliaridis, S
2010-08-01
The objectives of this study were to evaluate the assessments of maxillofacial surgeons, orthodontists, and laypersons on the predicted aesthetic outcome of various surgical options in Class III correction and the associations between certain initial cephalometric values and the judges' preferred option. Pre-surgical lateral headfilms and coloured profile photographs of 18 skeletal Class III Caucasian adult patients (10 males and 8 females) with a mean age of 24.5 years were used. The headfilms were hand traced and digitized. Conventional cephalometric analysis was performed. Computerized predictions of three surgical options, mandibular setback, Le Fort I advancement, and bimaxillary surgery, were made. For each case, the pre-surgical profile photograph with the three predictions was presented on a printed page. The questionnaire was sent to 51 maxillofacial surgeons (response rate 45.1 per cent), 78 orthodontists (response rate 71.8 per cent), and 61 laypersons (response rate 100 per cent) to aesthetically evaluate the pre-surgical photographs and the surgical predictions by placing a mark along a 10-graded visual analogue scale (VAS) using a standard profile for calibration. Confidence interval was calculated for each patient. An independent samples t-test was used to detect initial cephalometric values associated with the judges' preferred option and analysis of variance/Tukey's honestly significant differences to evaluate differences between judges. Intra-observer reliability was assessed with a paired t-test. All treatment predictions led to improved scoring of facial aesthetics with the exception of the setback option for three patients. For 14 patients, general agreement for the preferred option existed between the three groups of judges. Laypersons tended to give lower improvement scores than professionals. Overjet, nasofacial, and nasomental angles were important in decision making between the mandibular setback and Le Fort I options (the more negative
-
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.
-
Subordinated Levy Processes and Applications to Crude Oil Options
Noureddine Krichene
2005-01-01
One approach to oil markets is to treat oil as an asset, besides its role as a commodity. Speculative and nonspeculative activity by investors in the derivatives markets could be responsible for a sizable increase in oil prices. This paper recognizes both the consumption and investment aspects of crude oil and proposes Levy processes for modeling uncertainty and options pricing. Calibration to crude oil futures' options shows high volatility of oil futures prices, fat-tailed, and right-skewed...
-
Evaluation of five guidelines for option development in multiple-choice item-writing.
Martínez, Rafael J; Moreno, Rafael; Martín, Irene; Trigo, M Eva
2009-05-01
This paper evaluates certain guidelines for writing multiple-choice test items. The analysis of the responses of 5013 subjects to 630 items from 21 university classroom achievement tests suggests that an option should not differ in terms of heterogeneous content because such error has a slight but harmful effect on item discrimination. This also occurs with the "None of the above" option when it is the correct one. In contrast, results do not show the supposedly negative effects of a different-length option, the use of specific determiners, or the use of the "All of the above" option, which not only decreases difficulty but also improves discrimination when it is the correct option.
-
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.
-
Card, Alan J; Simsekler, Mecit Can Emre; Clark, Michael; Ward, James R; Clarkson, P John
2014-01-01
Risk assessment is widely used to improve patient safety, but healthcare workers are not trained to design robust solutions to the risks they uncover. This leads to an overreliance on the weakest category of risk control recommendations: administrative controls. Increasing the proportion of non-administrative risk control options (NARCOs) generated would enable (though not ensure) the adoption of more robust solutions. Experimentally assess a method for generating stronger risk controls: The Generating Options for Active Risk Control (GO-ARC) Technique. Participants generated risk control options in response to two patient safety scenarios. Scenario 1 (baseline): All participants used current practice (unstructured brainstorming). Scenario 2: Control group used current practice; intervention group used the GO-ARC Technique. To control for individual differences between participants, analysis focused on the change in the proportion of NARCOs for each group. Proportion of NARCOs decreased from 0.18 at baseline to 0.12. Intervention group: Proportion increased from 0.10 at baseline to 0.29 using the GO-ARC Technique. Results were statistically significant. There was no decrease in the number of administrative controls generated by the intervention group. The Generating Options for Active Risk Control (GO-ARC) Technique appears to lead to more robust risk control options.
-
Stata 8 Graphics: Options, sub-options and sub-sub-options
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) ...
-
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.
-
... 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 ...
-
Haertzen, C A; Ross, F E
1980-08-01
Male prisoners who were opiate addicts (N = 47) were given three Process Association Tests of Addiction containing stimuli which evoked responses characteristic of three levels of drug habits: beginning and ending stage of addiction, intermediate stage of addiction, and an advanced level of addiction. Each test required subjects to associate 278 word stimuli with one of five options which were randomly selected from among 20 options covering the stages of addiction, steps in drug taking, and drug effects. The purpose of the study was to determine whether responses to particular options suppressed or enhanced responses to other options. A strong interaction was found between the classes of stimuli and the response options which produced suppression or enhancement. This interaction made it possible to develop a suppression scale to measure the effect of each class of stimulus. Popular responses most frequently suppressed responses of other options. Thus, when the stimuli were clean, responses of "to be clean" and "to live a normal life," which are sensitive indicators of the beginning or ending stages of addiction , suppressed responses of other stages. The response of "to be high," a prime indicator of an intermediate habit, suppressed responses of other options when the stimuli were drug names. Responses of "to be hooked" and "to fix," which are specific indicators of a strong habit, and "to be high," which is a nonspecific indicator of a strong habit, suppressed responses of many other options. In the development of new association tests the analysis of suppression could provide a basis for selectively varying option groupings in order to increase or decrease the frequently of certain responses.
-
5 CFR 870.705 - Amount and election of Option B and Option C.
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...
-
French-McCay, Deborah; Crowley, Deborah; Rowe, Jill J; Bock, Michael; Robinson, Hilary; Wenning, Richard; Walker, Ann Hayward; Joeckel, John; Nedwed, Tim J; Parkerton, Thomas F
2018-05-31
Oil spill model simulations of a deepwater blowout in the Gulf of Mexico De Soto Canyon, assuming no intervention and various response options (i.e., subsea dispersant injection SSDI, in addition to mechanical recovery, in-situ burning, and surface dispersant application) were compared. Predicted oil fate, amount and area of surfaced oil, and exposure concentrations in the water column above potential effects thresholds were used as inputs to a Comparative Risk Assessment to identify response strategies that minimize long-term impacts. SSDI reduced human and wildlife exposure to volatile organic compounds; dispersed oil into a large water volume at depth; enhanced biodegradation; and reduced surface water, nearshore and shoreline exposure to floating oil and entrained/dissolved oil in the upper water column. Tradeoffs included increased oil exposures at depth. However, since organisms are less abundant below 200 m, results indicate that overall exposure of valued ecosystem components was minimized by use of SSDI. Copyright © 2018 Elsevier Ltd. All rights reserved.
-
From brute luck to option luck? On genetics, justice, and moral responsibility in reproduction.
Denier, Yvonne
2010-04-01
The structure of our ethical experience depends, crucially, on a fundamental distinction between what we are responsible for doing or deciding and what is given to us. As such, the boundary between chance and choice is the spine of our conventional morality, and any serious shift in that boundary is thoroughly dislocating. Against this background, I analyze the way in which techniques of prenatal genetic diagnosis (PGD) pose such a fundamental challenge to our conventional ideas of justice and moral responsibility. After a short description of the situation, I first examine the influential luck egalitarian theory of justice, which is based on the distinction between choice and luck or, more specifically, between option luck and brute luck, and the way in which it would approach PGD (section II), followed by an analysis of the conceptual incoherencies (in section III) and moral problems (in section IV) that come with such an approach. Put shortly, the case of PGD shows that the luck egalitarian approach fails to express equal respect for the individual choices of people. The paradox of the matter is that by overemphasizing the fact of choice as such, without regard for the social framework in which they are being made, or for the fundamental and existential nature of particular choices-like choosing to have children and not to undergo PGD or not to abort a handicapped fetus-such choices actually become impossible.
-
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
-
The Amnesiac Lookback Option: Selectively Monitored Lookback Options and Cryptocurrencies
Directory of Open Access Journals (Sweden)
Ho-Chun Herbert Chang
2018-05-01
Full Text Available This study proposes a strategy to make the lookback option cheaper and more practical, and suggests the use of its properties to reduce risk exposure in cryptocurrency markets through blockchain enforced smart contracts and correct for informational inefficiencies surrounding prices and volatility. This paper generalizes partial, discretely-monitored lookback options that dilute premiums by selecting a subset of specified periods to determine payoff, which we call amnesiac lookback options. Prior literature on discretely-monitored lookback options considers the number of periods and assumes equidistant lookback periods in pricing partial lookback options. This study by contrast considers random sampling of lookback periods and compares resulting payoff of the call, put and spread options under floating and fixed strikes. Amnesiac lookbacks are priced with Monte Carlo simulations of Gaussian random walks under equidistant and random periods. Results are compared to analytic and binomial pricing models for the same derivatives. Simulations show diminishing marginal increases to the fair price as the number of selected periods is increased. The returns correspond to a Hill curve whose parameters are set by interest rate and volatility. We demonstrate over-pricing under equidistant monitoring assumptions with error increasing as the lookback periods decrease. An example of a direct implication for event trading is when shock is forecasted but its timing uncertain, equidistant sampling produces a lower error on the true maximum than random choice. We conclude that the instrument provides an ideal space for investors to balance their risk, and as a prime candidate to hedge extreme volatility. We discuss the application of the amnesiac lookback option and path-dependent options to cryptocurrencies and blockchain commodities in the context of smart contracts.
-
Forest managment options for sequestering carbon in Mexico
International Nuclear Information System (INIS)
Masera, O.R.; Bellon, M.R.; Segura, G.
1995-01-01
This paper identifies and examines economic response options to avoid carbon emissions and increase carbon sequestration in Mexican forests. A ''Policy'' scenario covering the years 2000, 2010 and 2030 and a ''Technical Potential'' scenario (year 2030) are developed to examine the potential carbon sequestration and costs of each response option. Benefit-cost analyses for three case studies, including management of a pulpwood plantation, a native temperate forest and a native tropical evergreen forest are presented and discussed. The study suggests that a large potential for reducing carbon emissions and increasing carbon sequestration exists in Mexican forests. However, the achievement of this potential will require important reforms to the current institutional setting of the forest sector. The management of native temperate and tropical forests offers the most promising alternatives for carbon sequestration. The cost effectiveness of commercial plantations critically depends on very high site productivity. Restoration of degraded forest lands; particularly through the establishment of energy plantations, also shows a large carbon sequestration potential. (Author)
-
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
-
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...
-
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...
-
Deliberating emission reduction options
Energy Technology Data Exchange (ETDEWEB)
Dowd, A.M.; Rodriguez, M.; Jeanneret, T. [Commonwealth Scientific and Industrial Research Organisation CSIRO, 37 Graham Rd, Highett VIC 3190 (Australia); De Best-Waldhober, M.; Straver, K.; Mastop, J.; Paukovic, M. [Energy research Centre of the Netherlands ECN, Policy Studies, Amsterdam (Netherlands)
2012-06-15
participants to evaluate and choose between several options tend to lead to pseudo-opinions, incorrect assumptions and isolated responses. In order to address these methodological issues, researchers in the Netherlands created an Information Choice Questionnaire (ICQ). The ICQ provides the respondent with: (1) the entire (complex) policy problem, (2) expert information that is independent and balanced, (3) in a way that is understandable for the general public, (4) is a comparative process, and (5) asks for an evaluation. The aim of this research was to develop an online decision guide to aid public awareness, knowledge, deliberation and choice around carbon dioxide capture and storage (CCS) compared with other greenhouse gas mitigation options. More specifically, the objectives were to: (a) compare the Australian survey results to Dutch respondents; and (b) examine the most effective way to make online information and opinion formation more interactive and engaging. The following research questions are addressed: (1) How do Australian opinions on energy options differ from the Dutch when measured using the ICQ? ; (2) Is it possible to enhance the quality of the original ICQ by making the questionnaire an interactive application?.
-
Deliberating emission reduction options
Energy Technology Data Exchange (ETDEWEB)
Dowd, A. M.; Rodriguez, M.; Jeanneret, T. [Commonwealth Scientific and Industrial Research Organisation CSIRO, 37 Graham Rd, Highett VIC 3190 (Australia); De Best-Waldhober, M.; Straver, K.; Mastop, J.; Paukovic, M. [Energy research Centre of the Netherlands ECN, Policy Studies, Amsterdam (Netherlands)
2012-06-15
evaluate and choose between several options tend to lead to pseudo-opinions, incorrect assumptions and isolated responses. In order to address these methodological issues, researchers in the Netherlands created an Information Choice Questionnaire (ICQ). The ICQ provides the respondent with: (1) the entire (complex) policy problem, (2) expert information that is independent and balanced, (3) in a way that is understandable for the general public, (4) is a comparative process, and (5) asks for an evaluation. The aim of this research was to develop an online decision guide to aid public awareness, knowledge, deliberation and choice around carbon dioxide capture and storage (CCS) compared with other greenhouse gas mitigation options. More specifically, the objectives were to: (a) compare the Australian survey results to Dutch respondents; and (b) examine the most effective way to make online information and opinion formation more interactive and engaging. The following research questions are addressed: (1) How do Australian opinions on energy options differ from the Dutch when measured using the ICQ? ; (2) Is it possible to enhance the quality of the original ICQ by making the questionnaire an interactive application?.
-
Harrison, Phil; LaVerde, Bruce; Teague, David
2009-01-01
Although applications for Statistical Energy Analysis (SEA) techniques are more widely used in the aerospace industry today, opportunities to anchor the response predictions using measured data from a flight-like launch vehicle structure are still quite valuable. Response and excitation data from a ground acoustic test at the Marshall Space Flight Center permitted the authors to compare and evaluate several modeling techniques available in the SEA module of the commercial code VA One. This paper provides an example of vibration response estimates developed using different modeling approaches to both approximate and bound the response of a flight-like vehicle panel. Since both vibration response and acoustic levels near the panel were available from the ground test, the evaluation provided an opportunity to learn how well the different modeling options can match band-averaged spectra developed from the test data. Additional work was performed to understand the spatial averaging of the measurements across the panel from measured data. Finally an evaluation/comparison of two conversion approaches from the statistical average response results that are output from an SEA analysis to a more useful envelope of response spectra appropriate to specify design and test vibration levels for a new vehicle.
-
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.
-
30 CFR 90.3 - Part 90 option; notice of eligibility; exercise of option.
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...
-
BS degree in nuclear engineering or a nuclear option
International Nuclear Information System (INIS)
Williams on, T.G.
1988-01-01
Many nuclear engineering educators are concerned about the health of nuclear engineering academic departments. As part of a review of the BS nuclear engineering degree program at the University of Virginia, the authors surveyed several local utilities with operating nuclear plants about their needs for nuclear engineering graduates. The perception of many of the utility executives about a nuclear engineering degree and about a nuclear option in another engineering curriculum does not agree with the way the authors view these two degrees. The responses to two of the survey questions were of particular interest: (1) does your company have a preference between nuclear engineering graduates and graduates in other fields with a nuclear option? (2) what do you consider to be a minimum level of education in nuclear engineering for a nuclear option in mechanical engineering? All of the four utilities that were surveyed stated a preference for mechanical or electrical engineers with a nuclear option, although two indicated that there are certain jobs for which a nuclear engineering graduate is desired
-
Optimization of FRAP uncertainty analysis option
International Nuclear Information System (INIS)
Peck, S.O.
1979-10-01
The automated uncertainty analysis option that has been incorporated in the FRAP codes (FRAP-T5 and FRAPCON-2) provides the user with a means of obtaining uncertainty bands on code predicted variables at user-selected times during a fuel pin analysis. These uncertainty bands are obtained by multiple single fuel pin analyses to generate data which can then be analyzed by second order statistical error propagation techniques. In this process, a considerable amount of data is generated and stored on tape. The user has certain choices to make regarding which independent variables are to be used in the analysis and what order of error propagation equation should be used in modeling the output response. To aid the user in these decisions, a computer program, ANALYZ, has been written and added to the uncertainty analysis option package. A variety of considerations involved in fitting response surface equations and certain pit-falls of which the user should be aware are discussed. An equation is derived expressing a residual as a function of a fitted model and an assumed true model. A variety of experimental design choices are discussed, including the advantages and disadvantages of each approach. Finally, a description of the subcodes which constitute program ANALYZ is provided
-
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.
-
Treatment Options for Retinoblastoma
... 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 ...
-
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
-
Options for modulation of drug resistance in ovarian cancer
Arts, HJG; Van der Zee, AGJ; De Jong, S; De Vries, EGE
2000-01-01
The objective of this paper is to present an update of mechanisms responsible for drug resistance in ovarian cancer and the possible therapeutic options to modulate this resistance using literature review with emphasis on data acquired in studies comprising ovarian tumor samples. The classic
-
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.
-
DISPOSITION PATHS FOR ROCKY FLATS GLOVEBOXES: EVALUATING OPTIONS
International Nuclear Information System (INIS)
Lobdell, D.; Geimer, R.; Larsen, P.; Loveland, K.
2003-01-01
The Kaiser-Hill Company, LLC has the responsibility for closure activities at the Rocky Flats Environmental Technology Site (RFETS). One of the challenges faced for closure is the disposition of radiologically contaminated gloveboxes. Evaluation of the disposition options for gloveboxes included a detailed analysis of available treatment capabilities, disposal facilities, and lifecycle costs. The Kaiser-Hill Company, LLC followed several processes in determining how the gloveboxes would be managed for disposition. Currently, multiple disposition paths have been chosen to accommodate the needs of the varying styles and conditions of the gloveboxes, meet the needs of the decommissioning team, and to best manage lifecycle costs. Several challenges associated with developing a disposition path that addresses both the radiological and RCRA concerns as well as offering the most cost-effective solution were encountered. These challenges included meeting the radiological waste acceptance criteria of available disposal facilities, making a RCRA determination, evaluating treatment options and costs, addressing void requirements associated with disposal, and identifying packaging and transportation options. The varying disposal facility requirements affected disposition choices. Facility conditions that impacted decisions included radiological and chemical waste acceptance criteria, physical requirements, and measurement for payment options. The facility requirements also impacted onsite activities including management strategies, decontamination activities, and life-cycle cost
-
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.
-
Dynamique jointe stock/option et application aux stratégies de trading sur options
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...
-
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.
-
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....
-
Option price and market instability
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.
-
Energy Technology Data Exchange (ETDEWEB)
R. Wigeland; T. Taiwo; M. Todosow; W. Halsey; J. Gehin
2010-09-01
The Options Study has been conducted for the purpose of evaluating the potential of alternative integrated nuclear fuel cycle options to favorably address the issues associated with a continuing or expanding use of nuclear power in the United States. The study produced information that can be used to inform decisions identifying potential directions for research and development on such fuel cycle options. An integrated nuclear fuel cycle option is defined in this study as including all aspects of the entire nuclear fuel cycle, from obtaining natural resources for fuel to the ultimate disposal of used nuclear fuel (UNF) or radioactive wastes. Issues such as nuclear waste management, especially the increasing inventory of used nuclear fuel, the current uncertainty about used fuel disposal, and the risk of nuclear weapons proliferation have contributed to the reluctance to expand the use of nuclear power, even though it is recognized that nuclear power is a safe and reliable method of producing electricity. In this Options Study, current, evolutionary, and revolutionary nuclear energy options were all considered, including the use of uranium and thorium, and both once-through and recycle approaches. Available information has been collected and reviewed in order to evaluate the ability of an option to clearly address the challenges associated with the current implementation and potential expansion of commercial nuclear power in the United States. This Options Study is a comprehensive consideration and review of fuel cycle and technology options, including those for disposal, and is not constrained by any limitations that may be imposed by economics, technical maturity, past policy, or speculated future conditions. This Phase II report is intended to be used in conjunction with the Phase I report, and much information in that report is not repeated here, although some information has been updated to reflect recent developments. The focus in this Options Study was to
-
Efficient Trajectory Options Allocation for the Collaborative Trajectory Options Program
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.
-
Estimating the option value of a non-firm electricity tariff
International Nuclear Information System (INIS)
Moore, J.; Horii, B.; Price, S.; Olson, A.; Woo, C.K.
2010-01-01
We estimate the option value of a non-firm electricity tariff commonly used by a local distribution company (LDC) in its electricity demand response program. This option value captures the benefit that a LDC enjoys from not serving an end-use load during high-price hours in a wholesale electricity market. It is conservative in that it does not include the cost savings in meeting the LDC's resource adequacy requirement or deferring transmission and distribution (T and D) investments necessary for delivering reliable service. Illustrated by a Northern California example, our two-pronged approach entails (a) a set of summer monthly market price regressions to forecast daily spot price distributions that incorporate uncertainty in natural gas price and weather; and (b) a simulation exercise to quantify the tariff's value under a specific design. The results indicate that a non-firm service tariff can have varying option value estimates that are highly sensitive to the tariff's design, and that an incentive payment based on the option value alone is likely insufficient to attract customer participation in a non-firm service program. (author)
-
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...
-
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...
-
Nevada Transportation Options Study
International Nuclear Information System (INIS)
P. GEHNER; E.M. WEAVER; L. FOSSUM
2006-01-01
This study performs a cost and schedule analysis of three Nevada Transportation options that support waste receipt at the repository. Based on the U.S. Department of Energy preference for rail transportation in Nevada (given in the Final Environmental Impact Statement), it has been assumed that a branch rail line would be constructed to support waste receipt at the repository. However, due to potential funding constraints, it is uncertain when rail will be available. The three Nevada Transportation options have been developed to meet a varying degree of requirements for transportation and to provide cost variations used in meeting the funding constraints given in the Technical Direction Letter guidelines for this study. The options include combinations of legal-weight truck, heavy-haul truck, and rail. Option 1 uses a branch rail line that would support initial waste receipt at the repository in 2010. Rail transportation would be the primary mode, supplemented by legal weight trucks. This option provides the highest level of confidence in cost and schedule, lowest public visibility, greatest public acceptability, lowest public dose, and is the recommended option for support of waste receipt. The completion of rail by 2010 will require spending approximately $800 million prior to 2010. Option 2 uses a phased rail approach to address a constrained funding scenario. To meet funding constraints, Option 2 uses a phased approach to delay high cost activities (final design and construction) until after initial waste receipt in 2010. By doing this, approximately 95 percent of the cost associated with completion of a branch rail line is deferred until after 2010. To support waste receipt until a branch rail line is constructed in Nevada, additional legal-weight truck shipments and heavy-haul truck shipments (on a limited basis for naval spent nuclear fuel) would be used to meet the same initial waste receipt rates as in Option 1. Use of heavy-haul shipments in the absence
-
Expensing options solves nothing.
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.
-
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.
-
An Overview of Chain of Custody Options for LETTERPRESS.
Energy Technology Data Exchange (ETDEWEB)
Smartt, Heidi A. [Sandia National Lab. (SNL-NM), Albuquerque, NM (United States)
2016-11-01
This purpose of this document is to provide an overview of Chain of Custody (CoC) technology options that could be made available for the LETTERPRESS exercise as part of the Quad Working Group. The Quad Working Group comprises five sub-working groups (Management, Protocol, Simulation, Technology, and Training) with members from the U.S., U.K., Norway, and Sweden having the goal of providing a repeatable, realistic arms control exercise (dubbed LETTERPRESS) to be executed in representative facilities and using non-proliferative but representative treaty items. The Technology Working Group is responsible for supporting the technology requirements of the LETTERPRESS exercise and as such the technologies presented here are possible options to meet those requirements.
-
An Overview of Chain of Custody Options for LETTERPRESS
International Nuclear Information System (INIS)
Smartt, Heidi A.
2016-01-01
This purpose of this document is to provide an overview of Chain of Custody (CoC) technology options that could be made available for the LETTERPRESS exercise as part of the Quad Working Group. The Quad Working Group comprises five sub-working groups (Management, Protocol, Simulation, Technology, and Training) with members from the U.S., U.K., Norway, and Sweden having the goal of providing a repeatable, realistic arms control exercise (dubbed LETTERPRESS) to be executed in representative facilities and using non-proliferative but representative treaty items. The Technology Working Group is responsible for supporting the technology requirements of the LETTERPRESS exercise and as such the technologies presented here are possible options to meet those requirements.
-
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...
-
48 CFR 570.401 - Renewal options.
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...
-
New options in the management of tendinopathy
Maffulli, Nicola; Longo, Umile Giuseppe; Loppini, Mattia; Spiezia, Filippo; Denaro, Vincenzo
2010-01-01
Tendon injuries can be acute or chronic, and caused by intrinsic or extrinsic factors, either alone or in combination. Tendinopathies are a common cause of disability in occupational medicine and account for a substantial proportion of overuse injuries in sports. Tendinopathy is essentially a failed healing response, with haphazard proliferation of tenocytes, abnormalities in tenocytes, with disruption of collagen fibres and subsequent increase in noncollagenous matrix. The scientific evidence base for managing tendinopathies is limited. What may appear clinically as an “acute tendinopathy” is actually a well advanced failure of a chronic healing response in which there is neither histologic nor biochemical evidence of inflammation. In this review we report the new options for the management of tendinopathy, including eccentric exercises, extracorporeal shockwave therapy, injections (intratendinous injections of corticosteroids, aprotinin, polidocanol platelet-rich plasma, autologous blood injection, high-volume injections) and surgery. Open surgery aims to excise fibrotic adhesions, remove areas of failed healing and make multiple longitudinal incisions in the tendon to detect intratendinous lesions, and to restore vascularity and possibly stimulate the remaining viable cells to initiate cell matrix response and healing. New surgical techniques aim to disrupt the abnormal neoinnervation to interfere with the pain sensation caused by tendinopathy. These procedures are intrinsically different from the classical ones in present use, because they do not attempt to address directly the pathologic lesion, but act only to denervate them. They include endoscopy, electrocoagulation, and minimally invasive stripping. Further randomized controlled trials are necessary to clarify better the best therapeutic options for the management of tendinopathy. PMID:24198540
-
Treatment Options for Wilms Tumor
... 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
... 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)
... 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)
... 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)
... 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)
... 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)
... 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)
... 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)
... 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)
... 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
... 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
... 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
... 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 ...
-
Option-implied term structures
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...
-
Treatment Option Overview (Myelodysplastic/Myeloproliferative Neoplasms)
... 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 ...
-
Efficient option valuation of single and double barrier options
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.
-
Carbon flows and economic evaluation of mitigation options in Tanzania's forest sector
International Nuclear Information System (INIS)
Makundi, W.; Okiting'ati, Aku
1995-01-01
This paper presents estimates of the rate of forest use, deforestation and forest degradation, as well as the corresponding carbon flows, in the Tanzanian forest sector. It is estimated that the country lost 525,000 ha of forests in 1990, with associated committed emissions of 31.5 Mt carbon (MtC), and 7.05 MtC of committed carbon sequestration. The paper then describes the possible response options in the forest sector to mitigate GHG emissions, and evaluates the most stable subset of these - i.e. forest conservation, woodfuel plantations and agroforestry. The conservation options were found to cost an average of US$1.27 per tonne of carbon (tC) conserved. Five options for fuelwood plantations and agroforestry, with two different ownership regimes were evaluated. Each one of the options gives a positive net present value at low rates of discount, ranging from U.S.$1.06 to 3.4/tC of avoided emissions at 0% discount rate. At 10% discount, the eucalyptus and maize option has a highest PNV of U.S.$1.73/tC, and the government plantation gives a negative PNV (loss) of U.S.$ 0.13 tC sequestered. The options with a private/community type of ownership scheme fared better than government run options. This conclusion also held true when ranking the options by the BRAC indicator, with the government fuelwood plantation ranked the lowest, and the private agroforestry option of eucalyptus and corn performing best. The mitigation options evaluated here show that the forest sector in Tanzania has one of the most cost-effective GHG mitigation opportunities in the world, and they are within the development aspirations of the country. (Author)
-
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
-
Probabilistic methods in exotic option pricing
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.
-
Dopamine Modulates Option Generation for Behavior.
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.
-
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
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 ...
-
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...
-
Balancing of solar heating options
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
-
Stock option repricing in Europe
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.
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...
-
Response threshold variance as a basis of collective rationality.
Yamamoto, Tatsuhiro; Hasegawa, Eisuke
2017-04-01
Determining the optimal choice among multiple options is necessary in various situations, and the collective rationality of groups has recently become a major topic of interest. Social insects are thought to make such optimal choices by collecting individuals' responses relating to an option's value (=a quality-graded response). However, this behaviour cannot explain the collective rationality of brains because neurons can make only 'yes/no' responses on the basis of the response threshold. Here, we elucidate the basic mechanism underlying the collective rationality of such simple units and show that an ant species uses this mechanism. A larger number of units respond 'yes' to the best option available to a collective decision-maker using only the yes/no mechanism; thus, the best option is always selected by majority decision. Colonies of the ant Myrmica kotokui preferred the better option in a binary choice experiment. The preference of a colony was demonstrated by the workers, which exhibited variable thresholds between two options' qualities. Our results demonstrate how a collective decision-maker comprising simple yes/no judgement units achieves collective rationality without using quality-graded responses. This mechanism has broad applicability to collective decision-making in brain neurons, swarm robotics and human societies.
-
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
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...
-
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...
-
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
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
... 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 ...
-
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.
-
24 CFR 206.19 - Payment options.
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...
-
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....
-
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...
-
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)
-
International Nuclear Information System (INIS)
Semenisty, Valeriya; Naroditsky, Inna; Keidar, Zohar; Bar-Sela, Gil
2015-01-01
Epithelioid hemangioendothelioma is a rare vascular tumor of borderline or low-grade malignancy. The lungs and liver are the two common primary organs affected. Metastatic disease was reported in more than 100 cases in the literature. However, no firm conclusions can be determined for recommended treatment options. The current case presents a patient with metastatic pulmonary epithelioid hemangioendothelioma to the cervical and mediastinal lymph nodes, lungs and liver that has been treated with pazopanib for more than two years with PET avid complete metabolic response in the mediastinum and lungs, and long-lasting stable disease. Target therapies that block VEGFR have a logical base in this rare malignancy. The current case is the first to report objective, long-lasting response to pazopanib
-
Valuing real options: frequently made errors
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...
-
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...
-
45 CFR 1306.34 - Combination program option.
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...
-
48 CFR 517.207 - Exercise of options.
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.
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...
-
Left or right? Teachers, political options and history didactics.
Directory of Open Access Journals (Sweden)
Caroline Pacievitch
2017-01-01
Full Text Available In this text we discuss the political options of history teachers and its consequences to teaching. We ask if there are relations between political options and didactical choices of the history teacher. The data were obtained from the project “Youth and History in MERCOSUR”, that uses a questionnaire which was responded by a sample of 288 history teacher of Brazil, Argentina, Uruguay, Chile and Paraguay. A descriptive and inferential statics treatment was given to the answers, with special attention to political options of the teachers, and crossing general information with stances about didactical aspects. Norberto Bobbio’s notion about left and right was used. It was noted that the teachers, regardless of political opinion, defend the history teaching importance and care about their own political participation. There are subtle differences about the teaching objectives evaluation and about professional difficulties among teachers, that also interpret sensitive historical themes coherently to their political stances. These findings invite to think more about the role of those professors who performs history teachers training, as to reinforce the importance of connecting politics and didactics in the making of teaching responsibility.
-
Hodson, Nathan; Bewley, Susan
2017-07-01
Improved prevention of vertical transmission of HIV is an essential part of the global response to HIV. The Option B+ strategy took the extraordinary step of treating many non-pregnant women living with HIV (those with CD4 cell counts >350 cells/mm 3 ) in the absence of evidence that they themselves would benefit from ART. This example of so-called AIDS exceptionalism reflects an understanding that the global response to HIV demands a different set of morals. This philosophical article explores a retrospective analysis of the ethical arguments made in support of Option B+ incorporating utilitarian, feminist and equity-based frameworks. A number of inconsistencies were found in the arguments made for the introduction of Option B+ well before results were available from the START and TEMPRANO trials. Although some people think 'the ends justify the means', we conclude that erroneous justifications were initially given in support of Option B+. We identify tensions that remain in light of these results and argue that future strategies would benefit from a community-focused, human rights-based approach.
-
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
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.
-
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...
-
Study of Agricultural Product Options Pricing
HONG, Qiu
2017-09-01
China is a large agricultural country, and the healthy development of agriculture is related to the stability of the whole society. The agricultural production and management of agricultural products are confronted with many risks, especially the market risks. Option contract is the object of option market transaction, so it is very important to study the option contract of agricultural products. Option trading separates the risk and profit, so that the trader can avoid the risk while retaining the opportunity to obtain income. The option has the characteristics of low transaction cost, simple and efficient, so it is suitable for small and medium investors.
-
Treatment Options by Stage (Pancreatic Cancer)
... 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)
... 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)
... 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)
... 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
... 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)
... 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)
... 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
... 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
... 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)
... 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
... 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)
... 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)
... 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)
... 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)
... 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
... 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
... 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
... 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)
... 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)
... 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
... 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 ...
-
Development of the oil spill response cost-effectiveness analytical tool
International Nuclear Information System (INIS)
Etkin, D.S.; Welch, J.
2005-01-01
Decision-making during oil spill response operations or contingency planning requires balancing the need to remove as much oil as possible from the environment with the desire to minimize the impact of response operations on the environment they are intended to protect. This paper discussed the creation of a computer tool developed to help in planning and decision-making during response operations. The Oil Spill Response Cost-Effectiveness Analytical Tool (OSRCEAT) was developed to compare the costs of response with the benefits of response in both hypothetical and actual oil spills. The computer-based analytical tool can assist responders and contingency planners in decision-making processes as well as act as a basis of discussion in the evaluation of response options. Using inputs on spill parameters, location and response options, OSRCEAT can calculate response cost, costs of environmental and socioeconomic impacts of the oil spill and response impacts. Oil damages without any response are contrasted to oil damages with response, with expected improvements. Response damages are subtracted from the difference in damages with and without response in order to derive a more accurate response benefit. An OSRCEAT user can test various response options to compare potential benefits in order to maximize response benefit. OSRCEAT is best used to compare and contrast the relative benefits and costs of various response options. 50 refs., 19 tabs., 2 figs
-
RTP as an Optional Service: It's Alive, But Is It Well?
Energy Technology Data Exchange (ETDEWEB)
Goldman, Charles; Barbose, Galen; Neenan, Bernie
2006-03-10
Economists have advocated for real-time pricing (RTP) of electricity on the basis of the gains in economic efficiency that would result from charging customers the contemporaneous marginal cost of supplying electricity instead of the average cost. In recent years, RTP has also become the subject of interest in a variety of policy contexts, including integrated resource planning initiatives, ongoing efforts to improve efficiency and reliability in competitive electricity markets, and implementation of default service in states with retail choice. Most experience with RTP has been as an optional service, that is, a self-selecting alternative to the standard utility service. By our count, approximately 70 utilities in the U.S. offered an optional RTP program at some point over the past 20 years. However, many programs are now defunct. In 2003, 47 utilities in the U.S. were still offering an optional RTP program, on either a pilot or permanent basis (see Figure 1). In addition, 10 utilities in states with retail choice currently offer RTP as the default service for large customers that are not under contract with a competitive supplier. Another two utilities have received regulatory approval to do so in the next few years. Although the results of a few optional RTP programs have been publicized, the vast majority of programs have operated in relative obscurity. To provide a wider perspective on utility and customer experience with RTP, we surveyed 43 optional RTP programs offered in 2003. We interviewed RTP program managers and other utility staff, and reviewed publicly available sources, including key regulatory documents and program evaluations. Based on this research, we identified trends related to RTP program history and outlook, program design and implementation, customer participation, and participant price response. The results are both surprising and instructive. We conclude that RTP is indeed alive but is not prospering as well it could. Thus, we offer a
-
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....
-
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
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
-
Alternative Fuels Data Center: Biodiesel Equipment Options
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
-
78 FR 7997 - Noncompensatory Partnership Options
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...
-
Portfolio insurance using traded options
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...
-
48 CFR 3017.202 - Use of options.
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. ...
-
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....
-
Fourier and wavelet option pricing methods
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
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.
-
The Pricing of Foreign Currency Futures Options
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.
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.
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.
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...
-
An update on adjunctive treatment options for bipolar disorder.
Dean, Olivia M; Gliddon, Emma; Van Rheenen, Tamsyn E; Giorlando, Francesco; Davidson, Sandra K; Kaur, Manreena; Ngo, Trung T; Williams, Lana J
2018-03-01
Bipolar disorder is a complex illness often requiring combinations of therapies to successfully treat symptoms. In recent years, there have been significant advancements in a number of therapies for bipolar disorder. It is therefore timely to provide an overview of current adjunctive therapeutic options to help treating clinicians to inform their patients and work towards optimal outcomes. Publications were identified from PubMed searches on bipolar disorder and pharmacotherapy, nutraceuticals, hormone therapy, psychoeducation, interpersonal and social rhythm therapy, cognitive remediation, mindfulness, e-Health and brain stimulation techniques. Relevant articles in these areas were selected for further review. This paper provides a narrative review of adjunctive treatment options and is not a systematic review of the literature. A number of pharmacotherapeutic, psychological and neuromodulation treatment options are available. These have varying efficacy but all have shown benefit to people with bipolar disorder. Due to the complex nature of treating the disorder, combination treatments are often required. Adjunctive treatments to traditional pharmacological and psychological therapies are proving useful in closing the gap between initial symptom remission and full functional recovery. Given that response to monotherapy is often inadequate, combination regimens for bipolar disorder are typical. Correspondingly, psychiatric research is working towards a better understanding of the disorder's underlying biology. Therefore, treatment options are changing and adjunctive therapies are being increasingly recognized as providing significant tools to improve patient outcomes. Towards this end, this paper provides an overview of novel treatments that may improve clinical outcomes for people with bipolar disorder. © 2018 John Wiley & Sons A/S. Published by John Wiley & Sons Ltd.
-
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.
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.
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.
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.
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
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
-
Management options in the food chain for accidental radionuclide deposition
International Nuclear Information System (INIS)
Rantavaara, A.
2005-12-01
Finland with four other countries participated in the European Union's network project FARMING in 2000 - 2004. The aim of the project was to invite participants from each country representing the food supply chain in a stakeholder group and advance with the groups the networking in building preparedness for accidental contamination of the food production systems. The task of the groups was to evaluate the practicability of management options suggested for reduction of radiation exposure through foodstuffs, and for disposal of waste generated in implementation of these options. The criteria for practicability were effectiveness in reduction of radiation exposure through foodstuffs, technical feasibility, capacity, costs for implementation, secondary costs for waste disposal, socio-economic impact, and acceptability concerning ecology and protection of environment and landscape. Practicable management options aimed at sustainable restoration of food production systems after accidental contamination. The Finnish stakeholder group represented farm production, processing industry, food marketing, catering, advisor organisations for households and agriculture, consumers, nature conservation, the media, experts on environmental impact and authorities responsible for production, safety and security of foodstuffs, food supply and feedstuffs. The group was expected to examine the effect of the Finnish, and, also more generally, northern production conditions on the practicability of the suggested management options. The stakeholder group members first familiarized themselves with intervention after accidental contamination of a large milk production area and thereafter with practicability of individual management options. The evaluation was based on the group members' complementary expertise that very well covered the chain 'from field to fork' whether the issue was related to legislation, production methods, logistics, environmental impacts, or the issues of consumers and
-
48 CFR 517.202 - Use of options.
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.
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.
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.
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...
-
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
-
2011-10-01
In response to fiscal constraints on transportation funding and the need to address transportation problems and create regional solutions, Georgia is proposing a 1% regional Special-Purpose Local-Option Sales Tax (SPLOST). To accommodate this initiat...
-
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
... 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)
... 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)
... 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.
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.
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...
-
48 CFR 2917.202 - Use of options.
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...
-
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
-
42 CFR 457.70 - Program options.
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.
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.
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.
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.
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...
-
Transportation Options | Climate Neutral Research Campuses | NREL
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
-
Lake, Christopher J.; Withrow, Scott; Zickar, Michael J.; Wood, Nicole L.; Dalal, Dev K.; Bochinski, Joseph
2013-01-01
Adapting the original latitude of acceptance concept to Likert-type surveys, response latitudes are defined as the range of graded response options a person is willing to endorse. Response latitudes were expected to relate to attitude involvement such that high involvement was linked to narrow latitudes (the result of selective, careful…
-
Pricing American and Asian Options
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.
-
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.
-
45 CFR 1306.33 - Home-based program option.
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...
-
Assessment of Options for the Treatment of Nitrate Salt Wastes at Los Alamos National Laboratory
International Nuclear Information System (INIS)
Robinson, Bruce Alan; Funk, David John; Stevens, Patrice Ann
2016-01-01
This paper summarizes the methodology used to evaluate options for treatment of the remediated nitrate salt waste containers at Los Alamos National Laboratory. The method selected must enable treatment of the waste drums, which consist of a mixture of complex nitrate salts (oxidizer) improperly mixed with sWheat Scoop®1, an organic kitty litter and absorbent (fuel), in a manner that renders the waste safe, meets the specifications of waste acceptance criteria, and is suitable for transport and final disposal in the Waste Isolation Pilot Plant located in Carlsbad, New Mexico. A Core Remediation Team was responsible for comprehensively reviewing the options, ensuring a robust, defensible treatment recommendation. The evaluation process consisted of two steps. First, a prescreening process was conducted to cull the list on the basis for a decision of feasibility of certain potential options with respect to the criteria. Then, the remaining potential options were evaluated and ranked against each of the criteria in a consistent methodology. Numerical scores were established by consensus of the review team. Finally, recommendations were developed based on current information and understanding of the scientific, technical, and regulatory situation. A discussion of the preferred options and documentation of the process used to reach the recommended treatment options are presented.
-
Assessment of Options for the Treatment of Nitrate Salt Wastes at Los Alamos National Laboratory
Energy Technology Data Exchange (ETDEWEB)
Robinson, Bruce Alan [Los Alamos National Lab. (LANL), Los Alamos, NM (United States); Funk, David John [Los Alamos National Lab. (LANL), Los Alamos, NM (United States); Stevens, Patrice Ann [Los Alamos National Lab. (LANL), Los Alamos, NM (United States)
2016-03-17
This paper summarizes the methodology used to evaluate options for treatment of the remediated nitrate salt waste containers at Los Alamos National Laboratory. The method selected must enable treatment of the waste drums, which consist of a mixture of complex nitrate salts (oxidizer) improperly mixed with sWheat Scoop®1, an organic kitty litter and absorbent (fuel), in a manner that renders the waste safe, meets the specifications of waste acceptance criteria, and is suitable for transport and final disposal in the Waste Isolation Pilot Plant located in Carlsbad, New Mexico. A Core Remediation Team was responsible for comprehensively reviewing the options, ensuring a robust, defensible treatment recommendation. The evaluation process consisted of two steps. First, a prescreening process was conducted to cull the list on the basis for a decision of feasibility of certain potential options with respect to the criteria. Then, the remaining potential options were evaluated and ranked against each of the criteria in a consistent methodology. Numerical scores were established by consensus of the review team. Finally, recommendations were developed based on current information and understanding of the scientific, technical, and regulatory situation. A discussion of the preferred options and documentation of the process used to reach the recommended treatment options are presented.
-
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
-
Designing regulatory frameworks for merchant transmission investments by real options analysis
International Nuclear Information System (INIS)
Pringles, Rolando; Olsina, Fernando; Garcés, Francisco
2014-01-01
In deregulated electricity markets, the transmission network is a key infrastructure for enabling competition in the generation sector. A deficient expansion of the transmission grid prevents the realization of the benefits in terms of efficiency associated with market mechanisms. Consequently, it is essential to provide clear investment policies and economic signals to attract timely and efficient transmission investments in order to develop the system at minimum cost meeting the requirements of generators and consumers, while keeping adequate levels of service quality and reliability. This paper proposes a modern tool of economic evaluation based on real options analysis that provides the regulator the ability to assess various incentives that would lead transmission investors to make efficient decisions in highly uncertain environments. Real options properly values partially irreversible investment decisions, such as to defer, modify or abandon an investment project in response to the arrival of new information or as uncertainties are resolved. Decisions are evaluated from the point of view of a transmission investor trying to maximize its own profits in the time period set to recover the capital invested. The results allow the study of the behavior of transmission investors regarding their decision making when they have the possibility to manage the option to defer, under different regulatory schemes that encourage the expansion of the transmission system. - Highlights: • Regulatory frameworks for efficient and timely transmission expansions are designed. • Irreversibility and uncertainty of transmission investment is properly accounted for. • Response of network investors to regulatory incentives is quantitatively established
-
Adaptation to climate change in agriculture: evaluation of options
International Nuclear Information System (INIS)
Dolan, A.H.; Smit, B.; Skinner, M.W.; Bradshaw, B.; Bryant, C.R.
2001-01-01
Adaptation was defined as the responses by stakeholders to actual or expected climatic stimuli or their effects to reduce vulnerability to adverse impacts or damage potential, or to realize opportunities associated with climate change. Planned policy initiatives representing change in the agricultural system were discussed in this report. An evaluation of adaptation options needed to be carried out before one could determine which adaptations should be promoted or implemented. The overall merit, suitability, utility or appropriateness of potential adaptation strategies or measures were examined. One interesting methodology was the Multiple Criteria Evaluation (MCE), which is designed to assess alternatives using more than one criterion. The criteria selected for this evaluation were: effectiveness, economic efficiency, flexibility, institutional compatibility, farmer implementation, and independent benefits. A selection of three adaptation options was made to better illustrate the utility of the evaluation framework., as follows: crop diversification, adoption of irrigation, and increase use of crop insurance. 122 refs., 6 tabs., 6 figs
-
1992 Columbia River salmon flow measures Options Analysis/EIS
International Nuclear Information System (INIS)
1992-01-01
This Options Analysis/Environmental Impact Statement (OA/EIS) identifies, presents effects of, and evaluates the potential options for changing instream flow levels in efforts to increase salmon populations in the lower Columbia and Snake rivers. The potential actions would be implemented during 1992 to benefit juvenile and adult salmon during migration through eight run-of-river reservoirs. The Corps of Engineers (Corps) prepared this document in cooperation with the Bonneville Power Administration and the Bureau of Reclamation. The US Fish and Wildlife Service (FSWS) is a participating agency. The text and appendices of the document describe the characteristics of 10 Federal projects and one private water development project in the Columbia River drainage basin. Present and potential operation of these projects and their effects on the salmon that spawn and rear in the Columbia and Snake River System are presented. The life history, status, and response of Pacific salmon to current environmental conditions are described
-
1992 Columbia River Salmon Flow Measures Options Analysis/EIS.
Energy Technology Data Exchange (ETDEWEB)
1992-01-01
This Options Analysis/Environmental Impact Statement (OA/EIS) identifies, presents effects of, and evaluates the potential options for changing instream flow levels in efforts to increase salmon populations in the lower Columbia and Snake rivers. The potential actions would be implemented during 1992 to benefit juvenile and adult salmon during migration through eight run-of-river reservoirs. The Corps of Engineers (Corps) prepared this document in cooperation with the Bonneville Power Administration and the Bureau of Reclamation. The US Fish and Wildlife Service (FSWS) is a participating agency. The text and appendices of the document describe the characteristics of 10 Federal projects and one private water development project in the Columbia River drainage basin. Present and potential operation of these projects and their effects on the salmon that spawn and rear in the Columbia and Snake River System are presented. The life history, status, and response of Pacific salmon to current environmental conditions are described.
-
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.
-
Treatment Options for Adult Soft Tissue Sarcoma
... 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)
... 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)
... 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
... 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)
... 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)
... 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)
... 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)
... 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
... 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
... 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 ...
-
Logic of Accounting: The Case of Reporting Previous Options in Norwegian Activation Encounters
Solberg, Janne
2017-01-01
The article deals with the enactment of client resistance in Norwegian vocational rehabilitation encounters. More specific, a practice here called "reporting previous options" is analyzed by using the resources of ethnomethodological conversation analysis (CA) in five instances as doing some sort of accounting. In response to the…
-
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
-
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...
-
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
-
New options in the management of tendinopathy
Directory of Open Access Journals (Sweden)
Nicola Maffulli
2010-03-01
Full Text Available Nicola Maffulli1, Umile Giuseppe Longo2, Mattia Loppini2, Filippo Spiezia2, Vincenzo Denaro21Centre for Sports and Exercise Medicine, Queen Mary University of London, Barts and The London School of Medicine and Dentistry, Mile End Hospital, London, England; 2Department of Orthopedic and Trauma Surgery, Campus Biomedico University, Rome, ItalyAbstract: Tendon injuries can be acute or chronic, and caused by intrinsic or extrinsic factors, either alone or in combination. Tendinopathies are a common cause of disability in occupational medicine and account for a substantial proportion of overuse injuries in sports. Tendinopathy is essentially a failed healing response, with haphazard proliferation of tenocytes, abnormalities in tenocytes, with disruption of collagen fibres and subsequent increase in noncollagenous matrix. The scientific evidence base for managing tendinopathies is limited. What may appear clinically as an “acute tendinopathy” is actually a well advanced failure of a chronic healing response in which there is neither histologic nor biochemical evidence of inflammation. In this review we report the new options for the management of tendinopathy, including eccentric exercises, extracorporeal shockwave therapy, injections (intratendinous injections of corticosteroids, aprotinin, polidocanol platelet-rich plasma, autologous blood injection, high-volume injections and surgery. Open surgery aims to excise fibrotic adhesions, remove areas of failed healing and make multiple longitudinal incisions in the tendon to detect intratendinous lesions, and to restore vascularity and possibly stimulate the remaining viable cells to initiate cell matrix response and healing. New surgical techniques aim to disrupt the abnormal neoinnervation to interfere with the pain sensation caused by tendinopathy. These procedures are intrinsically different from the classical ones in present use, because they do not attempt to address directly the pathologic
-
Cryoablation in fibro-adipose vascular anomaly (FAVA): a minimally invasive treatment option
International Nuclear Information System (INIS)
Shaikh, Raja; Alomari, Ahmad I.; Kerr, Cindy L.; Miller, Patricia; Spencer, Samantha A.
2016-01-01
Fibro-adipose vascular anomaly (FAVA) is a complex vascular malformation that typically presents with persistent pain, discomfort, contracture and other disabling symptoms. There are no minimally invasive treatment options to effectively control these symptoms. Image-guided percutaneous cryoablation, which has been used to control pain in people with cancer, could be used for similar indications in FAVA. To assess the role of image-guided percutaneous cryoablation for control of symptoms in FAVA lesions. We conducted a retrospective cohort study of 20 children and young adults with FAVA who underwent percutaneous cryoablation at 26 sites, from September 2013 to August 2015. The outcome was based on the brief pain inventory scoring (BPI), concurrent symptoms, clinical response and patient satisfaction. After cryoablation there was significant improvement in pain, which dropped by 3 points (pain now) to 3.7 points (pain in the last 24 h). Most patients indicated that pain interfered less in their everyday social life. Concurrent symptoms like swelling, physical limitations and skin hyperesthesia also improved. Clinical response was greatest at 2-5 months follow-up after cryoablation, with acceptable patient satisfaction thereafter. Technical response was 100%. There were no major complications. Image-guided percutaneous cryoablation is a safe and effective option for treatment of symptomatic FAVA lesions. (orig.)
-
Climate change and biological invasions: evidence, expectations, and response options.
Hulme, Philip E
2017-08-01
A changing climate may directly or indirectly influence biological invasions by altering the likelihood of introduction or establishment, as well as modifying the geographic range, environmental impacts, economic costs or management of alien species. A comprehensive assessment of empirical and theoretical evidence identified how each of these processes is likely to be shaped by climate change for alien plants, animals and pathogens in terrestrial, freshwater and marine environments of Great Britain. The strongest contemporary evidence for the potential role of climate change in the establishment of new alien species is for terrestrial arthropods, as a result of their ectothermic physiology, often high dispersal rate and their strong association with trade as well as commensal relationships with human environments. By contrast, there is little empirical support for higher temperatures increasing the rate of alien plant establishment due to the stronger effects of residence time and propagule pressure. The magnitude of any direct climate effect on the number of new alien species will be small relative to human-assisted introductions driven by socioeconomic factors. Casual alien species (sleepers) whose population persistence is limited by climate are expected to exhibit greater rates of establishment under climate change assuming that propagule pressure remains at least at current levels. Surveillance and management targeting sleeper pests and diseases may be the most cost-effective option to reduce future impacts under climate change. Most established alien species will increase their distribution range in Great Britain over the next century. However, such range increases are very likely be the result of natural expansion of populations that have yet to reach equilibrium with their environment, rather than a direct consequence of climate change. To assess the potential realised range of alien species will require a spatially explicit approach that not only
-
Report on "American Option Pricing and Hedging Strategies"
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.
-
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.
-
Acquisitions Through a Behavioral and Real Options Lens
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
-
Review of Saccharomyces boulardii as a treatment option in IBD.
Sivananthan, Kavitha; Petersen, Andreas Munk
2018-05-17
Review of the yeast Saccharomyces boulardii as a treatment option for the inflammatory bowel diseases (IBD) ulcerative colitis and Crohn's disease. 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. Searches in PubMed and the Cochrane Library with the MeSH words 'Saccharomyces boulardii AND IBD', 'Saccharomyces boulardii AND Inflammatory Bowel Disease', 'Saccharomyces boulardii AND ulcerative colitis' and 'Saccharomyces boulardii AND Crohn's disease' gave total a total of 80 articles. After exclusions because of irrelevance, articles in other languages and some articles that were not available, 16 articles were included in this review. Three of the clinical trials showed a positive effect of S. boulardii in IBD patients (two Crohn's disease, one ulcerative colitis), while there was one trial that didn't prove any effect (Crohn's disease). Included Animal trials and cell assays describes different anti-inflammatory mechanisms of S. boulardii supporting a possible effect when treating IBD patients. The number of studies of S. boulardii as treatment for IBD is limited. Furthermore, the existing trials have small populations and short duration. We do not have enough evidence to prove the effect of S. boulardii in IBD. 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.
-
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.
-
Patients' Values Related to Treatment Options for Teeth with Apical Periodontitis.
Azarpazhooh, Amir; Dao, Thuan; Ungar, Wendy J; Da Costa, Jose; Figueiredo, Rafael; Krahn, Murray; Friedman, Shimon
2016-03-01
This study aimed to explore patients' values when selecting treatment for a tooth with apical periodontitis (AP), namely retention via root canal treatment (RCT) and extraction without replacement or replacement with implant-supported crowns or fixed or removable partial prostheses. Through 2 surveys of patients (800 university patients and 200 community patients, response rate = 43%) and dentists (498 Ontario endodontists, periodontists, prosthodontists, oral and maxillofacial surgeons, response rate = 40% and 1983 Ontario general dentists, response rate = 15%), the importance of values that might be considered important to patients when selecting treatment options for a tooth with AP were recorded. Chi-square and Kendall's tau tests were used to respectively compare the importance rating frequency by each surveyed group and its correlation to their demographic variables (P ≤ .05). Patients considered communication and trust (94%), tooth retention (90%), esthetic outcome (84% regardless of location), cost (83%), longevity (83%), and preoperative pain (81%) as the most important decision values. Dentists overrated the importance of patients' previous experience with the treatment options (94% vs. 72%), dental insurance (90% vs. 70%), and intraoperative pain (79% vs. 60%) while underestimating the importance of maintenance cost (60% vs. 79%). Dentists should respect patients' views about esthetic outcome, longevity, and cost associated with treatment options for a tooth with AP. In particular, this survey highlights the value of communication and trust between patient and dentist and preservation of the natural tooth through RCT over implant-supported crown replacement when planning treatment for a tooth with AP. Copyright © 2016 American Association of Endodontists. Published by Elsevier Inc. All rights reserved.
-
Design Evolution Study - Aging Options
International Nuclear Information System (INIS)
McDaniel, P.
2002-01-01
The purpose of this study is to identify options and issues for aging commercial spent nuclear fuel received for disposal at the Yucca Mountain Mined Geologic Repository. Some early shipments of commercial spent nuclear fuel to the repository may be received with high-heat-output (younger) fuel assemblies that will need to be managed to meet thermal goals for emplacement. The capability to age as much as 40,000 metric tons of heavy metal of commercial spent nuclear he1 would provide more flexibility in the design to manage this younger fuel and to decouple waste receipt and waste emplacement. The following potential aging location options are evaluated: (1) Surface aging at four locations near the North Portal; (2) Subsurface aging in the permanent emplacement drifts; and (3) Subsurface aging in a new subsurface area. The following aging container options are evaluated: (1) Complete Waste Package; (2) Stainless Steel inner liner of the waste package; (3) Dual Purpose Canisters; (4) Multi-Purpose Canisters; and (5) New disposable canister for uncanistered commercial spent nuclear fuel. Each option is compared to a ''Base Case,'' which is the expected normal waste packaging process without aging. A Value Engineering approach is used to score each option against nine technical criteria and rank the options. Open issues with each of the options and suggested future actions are also presented. Costs for aging containers and aging locations are evaluated separately. Capital costs are developed for direct costs and distributable field costs. To the extent practical, unit costs are presented. Indirect costs, operating costs, and total system life cycle costs will be evaluated outside of this study. Three recommendations for aging commercial spent nuclear fuel--subsurface, surface, and combined surface and subsurface are presented for further review in the overall design re-evaluation effort. Options that were evaluated but not recommended are: subsurface aging in a new
-
17 CFR 33.3 - Unlawful commodity option transactions.
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...
-
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...
-
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.
-
17 CFR 32.3 - Unlawful commodity option transactions.
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.
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
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
-
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)
-
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.
-
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
-
7 CFR 457.172 - Coverage Enhancement Option.
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...
-
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.
-
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.
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.
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.
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.
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)
-
32 CFR 48.203 - Election of options.
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.
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
Full Text Available Currency options are often used to mitigate currency risk resulting from corporate activities. Their implementation can be complex, and there could be problems if the essential elements and principles are not fully understood. Although they are not the simplest financial products, currency options are interesting and useful to those who are trying to make a step forward in the area of currency risk management. This paper aims to present the general principles and specifics of accounting records and valuation of currency options used for hedging against risk. It is a complex process which, in addition to numerous conditions, also involves the implementation of accounting rules that deviate from the generally accepted accounting principles.
-
Mental health policy: Options for South Africa
Directory of Open Access Journals (Sweden)
Y. G. Pillay
1993-03-01
Full Text Available This paper emphasizes the need for mental health professionals to become involved in developing mental health policies in South Africa. In particular, it examines three options that are currently the focus of attention with respect to national health options, i.e. a free market system, a national health service (NHS and a national health insurance system (NHIS. While the paper does not provide support for any one of these options it does attempt to investigate some of the implications of each option for the funding and delivery of mental health care.
-
38 CFR 9.4 - Beneficiaries and options.
2010-07-01
... 38 Pensions, Bonuses, and Veterans' Relief 1 2010-07-01 2010-07-01 false Beneficiaries and options... SERVICEMEMBERS' GROUP LIFE INSURANCE AND VETERANS' GROUP LIFE INSURANCE § 9.4 Beneficiaries and options. Any designation of beneficiary or election of settlement options is subject to the provisions of 38 U.S.C. 1970...
-
40 CFR 80.163 - Detergent certification options.
2010-07-01
... 40 Protection of Environment 16 2010-07-01 2010-07-01 false Detergent certification options. 80... options. To be used to satisfy the detergency requirements under § 80.161(a), a detergent additive must be certified in accordance with the requirements of one or more of the options and suboptions described in this...
-
Treatment Options by Stage (Vaginal Cancer)
... 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 Options for Chronic Myeloproliferative Neoplasms
... factors affect prognosis (chance of recovery) and treatment options for primary myelofibrosis. Prognosis (chance of recovery ) depends ... factors affect prognosis (chance of recovery) and treatment options for essential thrombocythemia. Prognosis (chance of recovery ) and ...
-
Treatment Options for Nonmelanoma Skin Cancer
... 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 (Chronic Myeloproliferative Neoplasms)
... factors affect prognosis (chance of recovery) and treatment options for primary myelofibrosis. Prognosis (chance of recovery ) depends ... factors affect prognosis (chance of recovery) and treatment options for essential thrombocythemia. Prognosis (chance of recovery ) and ...
-
Sensitivity of Space Launch System Buffet Forcing Functions to Buffet Mitigation Options
Piatak, David J.; Sekula, Martin K.; Rausch, Russ D.
2016-01-01
Time-varying buffet forcing functions arise from unsteady aerodynamic pressures and are one of many load environments, which contribute to the overall loading condition of a launch vehicle during ascent through the atmosphere. The buffet environment is typically highest at transonic conditions and can excite the vehicle dynamic modes of vibration. The vehicle response to these buffet forcing functions may cause high structural bending moments and vibratory environments, which can exceed the capabilities of the structure, or of vehicle components such as payloads and avionics. Vehicle configurations, protuberances, payload fairings, and large changes in stage diameter can trigger undesirable buffet environments. The Space Launch System (SLS) multi-body configuration and its structural dynamic characteristics presented challenges to the load cycle design process with respect to buffet-induced loads and responses. An initial wind-tunnel test of a 3-percent scale SLS rigid buffet model was conducted in 2012 and revealed high buffet environments behind the booster forward attachment protuberance, which contributed to reduced vehicle structural margins. Six buffet mitigation options were explored to alleviate the high buffet environments including modified booster nose cones and fences/strakes on the booster and core. These studies led to a second buffet test program that was conducted in 2014 to assess the ability of the buffet mitigation options to reduce buffet environments on the vehicle. This paper will present comparisons of buffet forcing functions from each of the buffet mitigation options tested, with a focus on sectional forcing function rms levels within regions of the vehicle prone to high buffet environments.
-
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.
-
Novel preventive treatment options
DEFF Research Database (Denmark)
Longbottom, C; Ekstrand, K; Zero, D
2009-01-01
A number of novel preventive treatment options which, as with traditional methods, can be differentiated into 3 categories of prevention (primary, secondary and tertiary), have been and are being currently investigated. Those reviewed are either commercially available or appear relatively close...... of these techniques show considerable promise and dentists should be aware of these developments and follow their progress, the evidence for each of these novel preventive treatment options is currently insufficient to make widespread recommendations. Changes in dental practice should be explored to see how oral...
-
Low activity resin processing and disposal options review
International Nuclear Information System (INIS)
Gardner, F.
1996-01-01
New processing options for low activity resin processing and disposal are available. This presentation reviews the economics and technical requirements associated with the following low activity resin processing options. (1) Bulk release resin. (2) Direct disposal. (3) Decontamination and bulk release of cleaned resin. New processing and disposal options have been developed during 1995. Commercial experience with each of these options will be reviewed and the economics associated with the processing method described in detail. Technical requirements for each option will be identified specifying the activity limits and operational requirements for implementation
-
Murray, Aja Louise; Booth, Tom; Molenaar, Dylan
2016-01-01
When self-report items with a Likert-type scale include a middle response option (e.g., Unsure, Neither agree nor disagree, or ?), this middle option is assumed to measure a level of the trait intermediate between the high and low response categories. In this study, we tested this assumption in the 16 Personality Factor Questionnaire, Version 5 (16PF5) by fitting Bock's nominal response model in the U.S. and UK standardization samples of the 16PF5. We found that in many cases, the middle option was indicative of higher levels of the latent trait than the ostensibly highest response option. In certain other cases, it was indicative of lower levels of the latent trait than the ostensibly lowest response option. This undermines the use of a simple successive integer scoring scheme where responses in adjacent response categories are assigned scores of 0, 1, and 2. Recommendations for alternative scoring schemes are provided. Results also suggested that certain personality traits, especially neurotic traits, are associated with a tendency toward selecting the middle option.
-
Help Options in CALL: A Systematic Review
Cardenas-Claros, Monica S.; Gruba, Paul A.
2009-01-01
This paper is a systematic review of research investigating help options in the different language skills in computer-assisted language learning (CALL). In this review, emerging themes along with is-sues affecting help option research are identified and discussed. We argue that help options in CALL are application resources that do not only seem…
-
Option Fixation: A Cognitive Contributor to Overconfidence
Sieck, Winston R.; Merkle, Edgar C.; Van Zandt, Trisha
2007-01-01
The ASC model of choice and confidence in general knowledge proposes that respondents first Assess the familiarity of presented options, and then use the high-familiarity option as a retrieval cue to Search memory for the purposes of Constructing an explanation about why that high-familiarity option is true. The ASC process implies that…
-
A hybrid modeling approach for option pricing
Hajizadeh, Ehsan; Seifi, Abbas
2011-11-01
The complexity of option pricing has led many researchers to develop sophisticated models for such purposes. The commonly used Black-Scholes model suffers from a number of limitations. One of these limitations is the assumption that the underlying probability distribution is lognormal and this is so controversial. We propose a couple of hybrid models to reduce these limitations and enhance the ability of option pricing. The key input to option pricing model is volatility. In this paper, we use three popular GARCH type model for estimating volatility. Then, we develop two non-parametric models based on neural networks and neuro-fuzzy networks to price call options for S&P 500 index. We compare the results with those of Black-Scholes model and show that both neural network and neuro-fuzzy network models outperform Black-Scholes model. Furthermore, comparing the neural network and neuro-fuzzy approaches, we observe that for at-the-money options, neural network model performs better and for both in-the-money and an out-of-the money option, neuro-fuzzy model provides better results.
-
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...
-
The Factor Structure in Equity Options
DEFF Research Database (Denmark)
Christoffersen, Peter; Fournier, Mathieu; Jacobs, Kris
2018-01-01
Equity options display a strong factor structure. The first principal components of the equity volatility levels, skews, and term structures explain a substantial fraction of the crosssectional variation. Furthermore, these principal components are highly correlated with the S&P 500 index option...... volatility, skew, and term structure, respectively. We develop an equity option valuation model that captures this factor structure. The model predicts that firms with higher market betas have higher implied volatilities, steeper moneyness slopes, and a term structure that covaries more with the market...
-
Clozapine Can Be the Good Option in Resistant Mania
Directory of Open Access Journals (Sweden)
S. M. Yasir Arafat
2016-01-01
Full Text Available Bipolar mood disorder is a mental disorder with a lifetime prevalence rate of about 1% in the general population and there are still a proportion of individuals who suffer from bipolar mood disorders that are resistant to standard treatment. Reporting clozapine responsive mania that was not responding to two previous consecutive atypical antipsychotics and one typical antipsychotic was aimed at. A 17-year-old male manic patient was admitted into the psychiatry inpatient department and was nonresponsive to Risperidone 12 mg daily for 4 weeks, Olanzapine 30 mg daily for 3 weeks, and Haloperidol 30 mg daily for 3 weeks, along with valproate preparation 1500 mg daily. He was started on clozapine as he was nonresponsive to Lithium in previous episodes and did not consent to starting Electroconvulsive Therapy (ECT. He responded adequately to 100 mg clozapine and 1500 mg valproate preparation and remission happened within 2 weeks of starting clozapine. Clozapine can be a good option for resistant mania and further RCT based evidences will strengthen the options in treating resistant mania.
-
Option Strike Price and Managerial Investment Decisions
Institute of Scientific and Technical Information of China (English)
刘鸿雁; 张维
2003-01-01
The manager′s investment decisions is modeled when the manager is risk-averse and has stock options as compensation. It is found that the strike price of options is crucial to the investment incentives of managers, and that the correct value, or interval of values, of managerial stock option strike price can bring stockholder and manager interests in agreement.
-
Current options for palliative treatment in patients with pancreatic cancer.
Ridwelski, K; Meyer, F
2001-01-01
Palliative treatment is often the only remaining option in the management of pancreatic carcinoma, but its efficacy is poor due to low tumor sensitivity and inadequate treatment protocols. There are several options of palliative treatment with antitumor or supportive intention. Classical end points of palliative treatment are survival, tumor response, and quality of life. A decade ago, palliative chemotherapy consisted mainly of 5-fluorouracil as the standard agent in combination with either other agents and/or radiotherapy. Only the new antineoplastic drug gemcitabine, which was introduced simultaneously with the definition of novel end points of chemotherapy such as clinical benefit, allowed to achieve some progress. However, while gemcitabine monotherapy appeared to be superior to 5-fluorouracil and improved important parameters of quality of life, it could not provide a significant improvement of survival. A novel concept, therefore, is to improve this beneficial cytostatic response in pancreatic carcinoma using a gemcitabine-based protocol by combining it with antineoplastic drugs such as taxanes or platin analogs. This strategy may have the potential to improve the outcome in palliative chemotherapy of pancreatic carcinoma patients with advanced tumor growth or metastases. Best supportive care in pancreatic cancer consists of the treatment of symptoms, such as pain, jaundice, duodenal obstruction, weight loss, exocrine pancreatic insufficiency, and tumor-associated depression. Copyright 2001 S. Karger AG, Basel
-
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...
-
Proceedings of the Management options information seminar
International Nuclear Information System (INIS)
2002-01-01
This seminar was held in order to provide an opportunity to participants to broaden their knowledge concerning the numerous management options that are available when dealing with emissions generated by the electric power sector. It also represented an opportunity to gather information with regard to a host of different options to support the Electricity Project Team. The presentations centred on topics such as assessment, design and development of management options for the emissions of the electric power industry in Alberta. The legal, economic, social and environmental aspects were considered by the speakers for the options, and the perspectives included experience gained from hands on projects and initiatives. The reasons underlying the selection of options were revealed and lessons learned examined. Of the 14 presentations and the closing remarks speech, two presentations were included in this database. refs., tabs., figs
-
Options theory and strategic investment decisions
International Nuclear Information System (INIS)
Mann, D.; Goobie, G.; MacMillan, L.
1992-01-01
The possible use of options pricing theory for evaluating long-term capital investments is discussed. Using the Black and Scholes option pricing model, five variables were evaluated for a hypothetical oil sands project. These variables are: stock price as determined by the earning power of the company; exercise price which equals the investment cost of the project; price standard deviation which is assumed to be 50%; the length of time for which the company will maintain its option to invest in the project, and finally the risk free rate which is approximately equal to the yield in long term government securities. A sensitivity analysis on these variables can provide management with information on how best to influence the option value. A more in-depth analysis could provide valuable information about strategic choice for large projects. 5 refs., 3 figs
-
A Comparison of Retrievability: Celect versus Option Filter.
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.
-
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...
-
The Factor Structure in Equity Options
DEFF Research Database (Denmark)
Christoffersen, Peter; Fournier, Mathieu; Jacobs, Kris
Equity options display a strong factor structure. The first principal components of the equity volatility levels, skews, and term structures explain a substantial fraction of the cross-sectional variation. Furthermore, these principal components are highly correlated with the S&P500 index option...... volatility, skew, and term structure respectively. We develop an equity option valuation model that captures this factor structure. The model predicts that firms with higher market betas have higher implied volatilities, steeper moneyness slopes, and a term structure that co-varies more with the market...
-
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.
-
Treatment Options by Stage (Small Cell Lung Cancer)
... 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 ...
-
New options for purchasing electricity
International Nuclear Information System (INIS)
2003-10-01
This guide is intended for small to medium commercial customers in Alberta and explains new options for purchasing electricity. Small to medium customers include corner stores, community centres, schools, small office buildings, and light industrial businesses. In the 1990s, private power producers in Alberta built 3,000 megawatts of new generation, adding 30 per cent more supply to the power grid in the province. Prices in the deregulated electricity market have fluctuated with natural gas prices, changing weather and changing power demands. The competitive electricity market was opened on January 1, 2001 in Alberta, offering consumers purchasing choices such as green power, multi-year contracts, or electricity rates under the Regulated Rate Option (RRO). The RRO was a transition mechanism that will end by December 31, 2003 at which time, small to medium commercial customers will have the option to shop around for competitive electricity contracts that provide a fixed price of power over time, or they can opt to stay with their current supplier and receive a regulated flow-through of market prices. Under the flow-through option, risk of future deferral charges is reduced, but electricity prices will probably change between billing periods. 1 fig
-
Shungnak Energy Configuration Options.
Energy Technology Data Exchange (ETDEWEB)
Rosewater, David Martin [Sandia National Lab. (SNL-NM), Albuquerque, NM (United States); Eddy, John P. [Sandia National Lab. (SNL-NM), Albuquerque, NM (United States)
2017-10-01
Power systems in rural Alaska villages face a unique combination of challenges that can increase the cost of energy and lowers energy supply reliability. In the case of the remote village of Shungnak, diesel and heating fuel is either shipped in by barge or flown in by aircraft. This report presents a technical analysis of several energy infrastructure upgrade and modification options to reduce the amount of fuel consumed by the community of Shungnak. Reducing fuel usage saves money and makes the village more resilient to disruptions in fuel supply. The analysis considers demand side options, such as energy efficiency, alongside the installation of wind and solar power generation options. Some novel approaches are also considered including battery energy storage and the use of electrical home heating stoves powered by renewable generation that would otherwise be spilled and wasted. This report concludes with specific recommendations for Shungnak based on economic factors, and fuel price sensitivity. General conclusions are also included to support future work analyzing similar energy challenges in remote arctic regions.
-
Energy Technology Data Exchange (ETDEWEB)
Hakkila, E.A.; Mullen, M.F.; Olinger, C.T.; Stanbro, W.D. [Los Alamos National Lab., NM (United States); Olsen, A.P.; Roche, C.T.; Rudolph, R.R. [Argonne National Lab., IL (United States); Bieber, A.M.; Lemley, J. [Brookhaven National Lab., Upton, NY (United States); Filby, E. [Idaho National Engineering Lab., Idaho Falls, ID (United States)] [and others
1995-04-01
The Safeguards Options Study was initiated to aid the International Safeguards Division (ISD) of the DOE Office of Arms Control and Nonproliferation in developing its programs in enhanced international safeguards. The goal was to provide a technical basis for the ISD program in this area. The Safeguards Options Study has been a cooperative effort among ten organizations. These are Argonne National Laboratory, Brookhaven National Laboratory, Idaho National Engineering Laboratory, Lawrence Livermore National Laboratory, Los Alamos National Laboratory, Mound Laboratory, Oak Ridge National Laboratory, Pacific Northwest Laboratories, Sandia National Laboratories, and Special Technologies Laboratory. Much of the Motivation for the Safeguards Options Study is the recognition after the Iraq experience that there are deficiencies in the present approach to international safeguards. While under International Atomic Energy Agency (IAEA) safeguards at their declared facilities, Iraq was able to develop a significant weapons program without being noticed. This is because negotiated safeguards only applied at declared sites. Even so, their nuclear weapons program clearly conflicted with Iraq`s obligations under the Nuclear Nonproliferation Treaty (NPT) as a nonnuclear weapon state.
-
International Nuclear Information System (INIS)
Hakkila, E.A.; Mullen, M.F.; Olinger, C.T.; Stanbro, W.D.; Olsen, A.P.; Roche, C.T.; Rudolph, R.R.; Bieber, A.M.; Lemley, J.; Filby, E.
1995-04-01
The Safeguards Options Study was initiated to aid the International Safeguards Division (ISD) of the DOE Office of Arms Control and Nonproliferation in developing its programs in enhanced international safeguards. The goal was to provide a technical basis for the ISD program in this area. The Safeguards Options Study has been a cooperative effort among ten organizations. These are Argonne National Laboratory, Brookhaven National Laboratory, Idaho National Engineering Laboratory, Lawrence Livermore National Laboratory, Los Alamos National Laboratory, Mound Laboratory, Oak Ridge National Laboratory, Pacific Northwest Laboratories, Sandia National Laboratories, and Special Technologies Laboratory. Much of the Motivation for the Safeguards Options Study is the recognition after the Iraq experience that there are deficiencies in the present approach to international safeguards. While under International Atomic Energy Agency (IAEA) safeguards at their declared facilities, Iraq was able to develop a significant weapons program without being noticed. This is because negotiated safeguards only applied at declared sites. Even so, their nuclear weapons program clearly conflicted with Iraq's obligations under the Nuclear Nonproliferation Treaty (NPT) as a nonnuclear weapon state
-
Current Government Actions and Potential Policy Options for Reducing Obesity in Queensland Schools
Directory of Open Access Journals (Sweden)
Naser A. Alsharairi
2018-01-01
Full Text Available School nutrition policies provide promising avenues towards the improvement of children’s eating habits and the prevention of obesity. Childhood obesity rates and related chronic diseases are increasing in Queensland, in part as a result of unhealthy eating habits and lack of physical activity. There is a very high investment by the Queensland government in maintaining healthy weight and promoting nutrition and physical activity among schoolchildren through delivering a range of initiatives across the state. However, there is a lack of evidence concerning the effectiveness of nutrition/physical education and parental involvement programs addressing obesity delivered in Queensland schools. This paper can be used to guide government and policy-makers regarding the most effective policy options that will promote healthy eating and physical activity among Queensland schoolchildren. The aim of this paper is to: (i summarize current evidence on Queensland government responses to obesity; and (ii discuss potential policy options that could support healthy eating and regular physical activity, and examine the evidence base for each option and suggest new areas for future research.
-
Multifractal analysis of implied volatility in index options
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.
-
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....
-
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.
-
Option generation in decision making: ideation beyond memory retrieval.
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.
-
2013-12-03
... authority with respect to options transactions but no responsibilities over the books and records of the..., transparent, and enforceable legal framework for each aspect of its activities in all relevant jurisdictions... Because the proposed change does not (i) significantly affect the protection of investors or the public...
-
Numeraire-invariant option pricing and american, bermudan, trigger stream rollover
Jamshidian, F.
2004-01-01
Part I proposes a numeraire-invariant option pricing framework. It defines an option, its price process, and such notions as option indistinguishability and equivalence, domination, payoff process, trigger option, and semipositive option. It develops some of their basic properties, including price
-
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
-
Optimal Number of Questionnaire Response Categories
Directory of Open Access Journals (Sweden)
W. Paul Jones
2013-05-01
Full Text Available Two multi-instrument investigations in a university clinic/lab provided an opportunity to explore the impact of reducing the number of response alternatives in a scale measuring vocational personality traits. In a simulation study, a standard computer-based administration provided a numeric scale for each item ranging from 0 to 10. The tests were then rescored to simulate the effect of only three choices. For the follow-up study, two versions of the scale were created, one with two response options and the other with six response options, and were randomly assigned to participants. Typical relationships were evident between the vocational personality traits and scores on standard measures of core personality traits with negligible impact from reducing the number of response alternatives. Neither the ability of the participants nor the self-reported distress had a measurable impact on the utility of the results with the reduction in response alternatives.
-
42 CFR 408.65 - Payment options.
2010-10-01
... 42 Public Health 2 2010-10-01 2010-10-01 false Payment options. 408.65 Section 408.65 Public Health CENTERS FOR MEDICARE & MEDICAID SERVICES, DEPARTMENT OF HEALTH AND HUMAN SERVICES MEDICARE PROGRAM PREMIUMS FOR SUPPLEMENTARY MEDICAL INSURANCE Direct Remittance: Individual Payment § 408.65 Payment options...
-
23 CFR 500.104 - State option.
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...
-
Default options and neonatal resuscitation decisions.
Haward, Marlyse Frieda; Murphy, Ryan O; Lorenz, John M
2012-12-01
To determine whether presenting delivery room management options as defaults influences decisions to resuscitate extremely premature infants. Adult volunteers recruited from the world wide web were randomised to receive either resuscitation or comfort care as the delivery room management default option for a hypothetical delivery of a 23-week gestation infant. Participants were required to check a box to opt out of the default. The primary outcome measure was the proportion of respondents electing resuscitation. Data were analysed using χ(2) tests and multivariate logistic regression. Participants who were told the delivery room management default option was resuscitation were more likely to opt for resuscitation (OR 6.54 95% CI 3.85 to 11.11, pmanipulation. Further, this effect may operate in ways that a decision maker is not aware of and this raises questions of patient autonomy. Presenting delivery room options for extremely premature infants as defaults may compromise autonomous decision-making.
-
17 CFR 32.11 - Suspension of commodity option transactions.
2010-04-01
... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Suspension of commodity option... REGULATION OF COMMODITY OPTION TRANSACTIONS § 32.11 Suspension of commodity option transactions. (a... accept money, securities or property in connection with, the purchase or sale of any commodity option, or...
-
42 CFR 436.229 - Optional targeted low-income children.
2010-10-01
... 42 Public Health 4 2010-10-01 2010-10-01 false Optional targeted low-income children. 436.229... Options for Coverage as Categorically Needy Options for Coverage of Families and Children and Aged, Blind, and Disabled Individuals, Including Pregnant Women § 436.229 Optional targeted low-income children...
-
24 CFR 982.628 - Homeownership option: Eligible units.
2010-04-01
... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Homeownership option: Eligible units. 982.628 Section 982.628 Housing and Urban Development Regulations Relating to Housing and Urban... Types Homeownership Option § 982.628 Homeownership option: Eligible units. (a) Initial requirements...
-
Flexibility and Project Value: Interactions and Multiple Real Options
Čulík, Miroslav
2010-06-01
This paper is focused on a project valuation with embedded portfolio of real options including their interactions. Valuation is based on the criterion of Net Present Value on the simulation basis. Portfolio includes selected types of European-type real options: option to expand, contract, abandon and temporarily shut down and restart a project. Due to the fact, that in reality most of the managerial flexibility takes the form of portfolio of real options, selected types of options are valued not only individually, but also in combination. The paper is structured as follows: first, diffusion models for forecasting of output prices and variable costs are derived. Second, project value is estimated on the assumption, that no real options are present. Next, project value is calculated with the presence of selected European-type options; these options and their impact on project value are valued first in isolation and consequently in different combinations. Moreover, intrinsic value evolution of given real options with respect to the time of exercising is analysed. In the end, results are presented graphically; selected statistics and risk measures (Value at Risk, Expected Shortfall) of the NPV's distributions are calculated and commented.
-
Modelling Callable Annuity Bonds with Interest-Only Optionality
Holst, Anders; Nalholm, Morten
2004-01-01
In this paper an investigation of the pricing of callable annuities with interest-only (I-O) optionality is conducted. First the I-O optionality feature of callable annuities is introduced. Next an algorithm for pricing callable annuities with I-O optionality using the finite difference methodology, is formulated. This is then used to investigate optimal strategies of I-O bonds and impacts on prices from the I-O optionality. It is found that the I-O feature necessitates a simul...
-
34 CFR 300.110 - Program options.
2010-07-01
... 34 Education 2 2010-07-01 2010-07-01 false Program options. 300.110 Section 300.110 Education Regulations of the Offices of the Department of Education (Continued) OFFICE OF SPECIAL EDUCATION AND... DISABILITIES State Eligibility Other Fape Requirements § 300.110 Program options. The State must ensure that...
-
32 CFR 571.5 - Enlistment options.
2010-07-01
... 32 National Defense 3 2010-07-01 2010-07-01 true Enlistment options. 571.5 Section 571.5 National Defense Department of Defense (Continued) DEPARTMENT OF THE ARMY PERSONNEL RECRUITING AND ENLISTMENTS Recruiting and Enlistment Eligibility § 571.5 Enlistment options. Personnel who enlist in the Regular Army...
-
TIAA-CREF Retirement Options and Considerations.
Bastable, C. W.; Brady, Gerald P.
1979-01-01
The various retirement income options available to TIAA-CREF participants and federal taxes on each option are explained. The importance of early planning for retirement income is stressed and it is suggested that assessment of future financial needs will indicate the most appropriate settlement mode for retirement. (SF)
-
2015-10-28
The U.S. Office of Personnel Management (OPM) is issuing a final rule to amend the Federal Employees Health Benefits (FEHB) Program regulations regarding enrollment options following the termination of a plan or plan option.
-
Reducing the Deficit: Spending and Revenue Options
2011-03-01
Airports 109Option 22 Increase Fees for Aviation Security 110Option 23 Eliminate Intercity Rail Subsidies 111Option 24 Eliminate the Transit Starts...productivity. Charging users—such as drivers on highways, air travelers , users of waterways, and so forth—for services they receive from federal...can travel at high speed through the water from a ship to land. The Marine Corps regards the EFV as essential for the conduct of amphibi- ous warfare
-
Kelly, Joseph
2006-01-01
The goal of this dissertation is to develop a conceptual framework and associated methods for evaluating alternative tourism planning strategies in terms of dematerialization and acceptability amongst tourists. Its objectives are to (1) examine the technical potential of dematerialization planning options in tourism destinations, (2) investigate tourist perspectives concerning destination planning alternatives that promote dematerialization, (3) assess the travel market responses and demateri...
-
Pawnee Nation Energy Option Analyses
Energy Technology Data Exchange (ETDEWEB)
Matlock, M.; Kersey, K.; Riding In, C.
2009-07-31
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. Based on the request of Pawnee Nation’s Energy Task Force the research team, consisting Tribal personnel and Summit Blue Consulting, focused on a review of renewable energy resource development potential, funding sources and utility organizational along with energy savings options. Elements of the energy demand forecasting and characterization and demand side options review remained in the scope of work, but were only addressed at a high level. Description of Activities Performed Renewable Energy Resource Development Potential 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. Energy Efficiency Options While this was not a major focus of the project, the research team highlighted common strategies for reducing energy use in buildings. The team also discussed the benefits of adopting a building energy code and
-
The radiative forcing potential of different climate geoengineering options
Directory of Open Access Journals (Sweden)
T. M. Lenton
2009-08-01
Full Text Available Climate geoengineering proposals seek to rectify the Earth's current and potential future radiative imbalance, either by reducing the absorption of incoming solar (shortwave radiation, or by removing CO2 from the atmosphere and transferring it to long-lived reservoirs, thus increasing outgoing longwave radiation. A fundamental criterion for evaluating geoengineering options is their climate cooling effectiveness, which we quantify here in terms of radiative forcing potential. We use a simple analytical approach, based on energy balance considerations and pulse response functions for the decay of CO2 perturbations. This aids transparency compared to calculations with complex numerical models, but is not intended to be definitive. It allows us to compare the relative effectiveness of a range of proposals. We consider geoengineering options as additional to large reductions in CO2 emissions. By 2050, some land carbon cycle geoengineering options could be of comparable magnitude to mitigation "wedges", but only stratospheric aerosol injections, albedo enhancement of marine stratocumulus clouds, or sunshades in space have the potential to cool the climate back toward its pre-industrial state. Strong mitigation, combined with global-scale air capture and storage, afforestation, and bio-char production, i.e. enhanced CO2 sinks, might be able to bring CO2 back to its pre-industrial level by 2100, thus removing the need for other geoengineering. Alternatively, strong mitigation stabilising CO2 at 500 ppm, combined with geoengineered increases in the albedo of marine stratiform clouds, grasslands, croplands and human settlements might achieve a patchy cancellation of radiative forcing. Ocean fertilisation options are only worthwhile if sustained on a millennial timescale and phosphorus addition may have greater long-term potential than iron or nitrogen fertilisation. Enhancing ocean
-
Static super-replicating strategies for a class of exotic options
Chen, X.; Deelstra, G.; Dhaene, J.; Vanmaele, M.
2008-01-01
In this paper, we investigate static super-replicating strategies for European-type call options written on a weighted sum of asset prices. This class of exotic options includes Asian options and basket options among others. We assume that there exists a market where the plain vanilla options on the
-
Transepidermal drug delivery: a new treatment option for areata alopecia?
Issa, Maria Claudia Almeida; Pires, Marianna; Silveira, Priscilla; Xavier de Brito, Esther; Sasajima, Cristiane
2015-02-01
Transepidermal drug delivery (TED) is a new potential method in dermatology. Permeability alterations induced by ablative fractional resurfacing have been described with the aim to increasing the delivery of different substances into the skin. To evaluate clinical response and side effects of TED in areata alopecia (AA) treatment using ablative fractional methods associated with acoustic pressure ultrasound (US) to deliver triamcinolone solution into the skin. Five cases of AA underwent treatment which comprised of 3 steps: 1) Ablative fractioned RF or CO2 laser 2) topical application of triamcinolone 3) acoustic pressure wave US. The number of sessions varied according to the clinical response, ranging from one to six sessions. All patients had complete recovery of the area treated. Two of them treated with ablative fractional RF + triamcinolone + US had complete response after three and six sessions. The other two treated with ablative fractional CO2 + triamcinolone + US had complete response after one session. Fractioned ablative resurfacing associated with acoustic pressure wave US is a new option to areata alopecia treatment with good clinical result and low incidence of side effects.
-
17 CFR 230.238 - Exemption for standardized options.
2010-04-01
... options. 230.238 Section 230.238 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION... Exemption for standardized options. (a) Exemption. Except as expressly provided in paragraphs (b) and (c) of this section, the Act does not apply to any standardized option, as that term is defined by section 240...
-
Is it timing or backdating of option grants?
van der Goot, T.
2010-01-01
Using a unique dataset from the Netherlands, we investigate three questions of interest. First, we explore the effects of a rule change in September 2002 on option grant dates. Second, we examine the retroactive backdating of option grant dates. Finally, we look at the timing of option grant dates
-
78 FR 38843 - Single Application Option
2013-06-28
... Application Option AGENCY: U.S. Copyright Office, Library of Congress. ACTION: Interim final rule. SUMMARY: The U.S. Copyright Office is amending its regulations on an interim basis in order to establish a new... an additional option for individual authors/claimants registering a single (one) work that is not a...
-
75 FR 47710 - TRICARE; Extended Care Health Option
2010-08-09
... TRICARE; Extended Care Health Option AGENCY: Office of the Secretary, Department of Defense. ACTION: Final... Care Health Option (ECHO) from $2,500 per month to $36,000 per year, and for other non-legislated.... That program, known as the Extended Care Heath Option (ECHO), replaced the Program for Persons with...
-
10 CFR 490.307 - Option for Electric Utilities.
2010-01-01
... 10 Energy 3 2010-01-01 2010-01-01 false Option for Electric Utilities. 490.307 Section 490.307... Provider Vehicle Acquisition Mandate § 490.307 Option for Electric Utilities. (a) A covered person or its... selling, at wholesale or retail, electricity has the option of delaying the vehicle acquisition mandate...
-
Retrospective insights from real options in R&D
Lint, L.J.O.
2000-01-01
Absent empirical validation of real option pricing in R&D, we discuss the evolution of three cases in R&D option valuation. The first case concerns an option on conversion of an existing production process. The other two cases concern R&D to develop new product technology in the consumer electronics
-
Mouse-tracking evidence for parallel anticipatory option evaluation.
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.
-
Option valuation for energy issues
International Nuclear Information System (INIS)
Ostertag, K.; Llerena, P.; Richard, A.
2004-01-01
In many industrial and economic situations, decision processes, both individual and collective, have to simultaneously face uncertainty and irreversibility of some kind. This is particularly valid for energy choices if they are linked to technological alternatives. The purpose of this book is to highlight specific aspects of these situations. This is done from the particular perspective of option valuation. The contributions to this book grew out of an international workshop on ''Option valuation in energy and environmental issues'' held at the Fraunhofer ISI in February 2003. This workshop brought together reseachers from energy economics, but also researchers working on option valuation in other empirical fields or with a more theoretical perspective. This is reflected in the organisation of the book, which starts with some theory-oriented contributions and subsequently presents more applied contributions in the field of energy economics with an extension to water infrastructure in the annex. (orig.)
-
International Nuclear Information System (INIS)
Markland, J.T.
1992-01-01
Techniques used in conventional project appraisal are mathematically very simple in comparison to those used in reservoir modelling, and in the geosciences. Clearly it would be possible to value assets in mathematically more sophisticated ways if it were meaningful and worthwhile so to do. The DCf approach in common use has recognized limitations; the inability to select a meaningful discount rate being particularly significant. Financial Theory has advanced enormously over the last few years, along with computational techniques, and methods are beginning to appear which may change the way we do project evaluations in practice. The starting point for all of this was a paper by Black and Scholes, which asserts that almost all corporate liabilities can be viewed as options of varying degrees of complexity. Although the financial presentation may be unfamiliar to engineers and geoscientists, some of the concepts used will not be. This paper outlines, in plain English, the basis of option pricing theory for assessing the market value of a project. it also attempts to assess the future role of this type of approach in practical Petroleum Exploration and Engineering economics. Reference is made to relevant published Natural Resource literature
-
48 CFR 52.217-5 - Evaluation of Options.
2010-10-01
... 48 Federal Acquisition Regulations System 2 2010-10-01 2010-10-01 false Evaluation of Options. 52....217-5 Evaluation of Options. As prescribed in 17.208(c), insert a provision substantially the same as the following: Evaluation of Options (JUL 1990) Except when it is determined in accordance with FAR 17...
-
A comparison principle for an American option on several assets: Index and spread options
Directory of Open Access Journals (Sweden)
Peter Laurence
2003-07-01
Full Text Available Using the method of symmetrization, we compare the price of the American option on an index or spread to that of the solution of a parabolic variational inequality in one spatial variable. This comparison principle is established for a broad class of diffusion operators with time and state dependent coefficients. The purpose is to take a first step towards deriving symmmetrized problems whose solutions bound solutions of multidimensional American option problems with variable coefficients when the computation of the latter lies beyond the scope of the most powerful numerical methods.
-
Holt, Kelsey; Janiak, Elizabeth; McCormick, Marie C; Lieberman, Ellice; Dehlendorf, Christine; Kajeepeta, Sandhya; Caglia, Jacquelyn M; Langer, Ana
2017-07-01
Primary care physicians (PCPs) can play a critical role in addressing unintended pregnancy through high-quality options counseling and referrals. We surveyed a nationally representative sample of 3,000 PCPs in general, family, and internal medicine on practices and opinions related to options counseling for unintended pregnancy. We assessed predictors of physician practices using multivariable logistic regression weighted for sampling design and differential non-response. Response rate was 29%. Seventy-one percent believed residency training in options counseling should be required, and 69% believed PCPs have an obligation to provide abortion referrals even in the presence of a personal objection to abortion. However, only 26% reported routine options counseling when caring for women with unintended pregnancy compared to 60% who routinely discuss prenatal care. Among physicians who see women seeking abortion, 62% routinely provide referrals, while 14% routinely attempt to dissuade women. Family physicians were more likely to provide routine options counseling when seeing patients with unintended pregnancy than internal medicine physicians (32% vs 21%, P=0.002). In multivariable analyses, factors associated with higher odds of routine abortion referrals were more years in practice (OR=1.03 for each additional year, 95% CI: 1.00-1.05), identifying as a woman vs a man (OR=2.11, 95% CI: 1.31-3.40), practicing in a hospital vs private primary care/multispecialty setting (OR=3.17, 95% CI: 1.10-9.15), and no religious affiliation of practice vs religious affiliation (OR for Catholic affiliation=0.27, 95% CI: 0.11-0.66; OR for other religious affiliation=0.36, 95% CI: 0.15-0.83). Personal Christian religious affiliation among physicians who regularly attend religious services vs no religious affiliation was associated with lower odds of counseling (OR=0.48, 95% CI: 0.26-0.90) and referrals (OR=0.31, 95% CI: 0.15-0.62), and higher odds of abortion dissuasion (OR=4.03, 95
-
Buridan's Ass and a Menu of Options.
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 ...
-
Security option file - Exploitation (DOS-Expl)
International Nuclear Information System (INIS)
2016-01-01
This document aims at presenting functions performed by Cigeo during its exploitation phase, its main technical and security options which are envisaged with respect to different types of internal or external risks, and a first assessment of its impact on mankind and on the environment during its exploitation in normal operation as well as in incidental or accidental situations. A first volume addresses security principles, approach and management in relationship with the legal and regulatory framework. The second volume presents input data related to waste parcels and used for the installation sizing and operation, the main site characteristics, the main technical options regarding structures and equipment, and the main options regarding exploitation (parcel management, organisational and human aspects, and effluent management). The third volume describes how parcel are processed from their arrival to their setting in storage compartment, an inventory of internal and external risks, and a first assessment of consequences of scenarios on mankind and on the environment. The fourth volume presents options and operations which are envisaged regarding Cigeo closure, and inventory of associated risks
-
Alternative disposal options for transuranic waste
International Nuclear Information System (INIS)
Loomis, G.G.
1994-01-01
Three alternative concepts are proposed for the final disposal of stored and retrieved buried transuranic waste. These proposed options answer criticisms of the existing U.S. Department of Energy strategy of directly disposing of stored transuranic waste in deep, geological salt formations at the Waste Isolation Pilot Plant (WIPP) in Carlsbad, New Mexico. The first option involves enhanced stabilization of stored waste by thermal treatment followed by convoy transportation and internment in the existing WIPP facility. This concept could also be extended to retrieved buried waste with proper permitting. The second option involves in-state, in situ internment using an encapsulating lens around the waste. This concept applies only to previously buried transuranic waste. The third option involves sending stored and retrieved waste to the Nevada Test Site and configuring the waste around a thermonuclear device from the U.S. or Russian arsenal in a specially designed underground chamber. The thermonuclear explosion would transmute plutonium and disassociate hazardous materials while entombing the waste in a national sacrifice area
-
Disposal options for disused radioactive sources
International Nuclear Information System (INIS)
2005-01-01
This report presents a review of relevant information on the various technical factors and issues, as well as approaches and relevant technologies, leading to the identification of potential disposal options for disused radioactive sources. The report attempts to provide a logical 'road map' for the disposal of disused radioactive sources, taking into consideration the high degree of variability in the radiological properties of such types of radioactive waste. The use of borehole or shaft type repositories is highlighted as a potential disposal option, particularly for those countries that have limited resources and are looking for a simple, safe and cost effective solution for the disposal of their radioactive source inventories. It offers information about usage and characteristics of radioactive sources, disposal considerations, identification and screening of disposal options as well as waste packaging and acceptance criteria for disposal. The information provided in the report could be adapted or adopted to identify and develop specific disposal options suitable for the type and inventory of radioactive sources kept in storage in a given Member State
-
The Early Exercise Premium Representation for American Options on Multiply Assets
International Nuclear Information System (INIS)
Klimsiak, Tomasz; Rozkosz, Andrzej
2016-01-01
In the paper we consider the problem of valuation of American options written on dividend-paying assets whose price dynamics follow the classical multidimensional Black and Scholes model. We provide a general early exercise premium representation formula for options with payoff functions which are convex or satisfy mild regularity assumptions. Examples include index options, spread options, call on max options, put on min options, multiply strike options and power-product options. In the proof of the formula we exploit close connections between the optimal stopping problems associated with valuation of American options, obstacle problems and reflected backward stochastic differential equations
-
Treatment Option Overview (Childhood Acute Lymphoblastic Leukemia)
... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) depends on: How ... cancer that does not respond to treatment. Treatment Option Overview Key Points There are different types of ...
-
Perpetual American options within CTRWs
Montero, Miquel
2008-06-01
Continuous-time random walks are a well suited tool for the description of market behaviour at the smallest scale: the tick-to-tick evolution. We will apply this kind of market model to the valuation of perpetual American options: derivatives with no maturity that can be exercised at any time. Our approach leads to option prices that fulfill financial formulas when canonical assumptions on the dynamics governing the process are made, but it is still suitable for more exotic market conditions.
-
Perpetual American options within CTRW's
Montero, Miquel
2007-01-01
Continuous-time random walks are a well suited tool for the description of market behaviour at the smallest scale: the tick-to-tick evolution. We will apply this kind of market model to the valuation of perpetual American options: derivatives with no maturity that can be exercised at any time. Our approach leads to option prices that fulfil financial formulas when canonical assumptions on the dynamics governing the process are made, but it is still suitable for more exotic market conditions.
-
For the last time: stock options are an expense.
Bodie, Zvi; Kaplan, Robert S; Merton, Robert C
2003-03-01
Should stock options be recorded as an expense on a company's income statement and balance sheet, or should they remain where they are, relegated to footnotes? The extraordinary boom in share prices during the Internet bubble made critics of option expensing look like spoilsports. But since the crash, the debate has returned with a vengeance. And no wonder: The authors believe the case for expensing options is overwhelming. In this article, Nobel Iaureate Robert Merton, one of the inventors of the Black-Scholes option-pricing model; his coauthor on the classic textbook Finance, Zvi Bodie; and Robert Kaplan, creator of the Balanced Scorecard, examine and dismiss the principal claims put forward by those who continue to oppose options expensing. They demonstrate that stock-option grants do indeed have real cash-flow implications that need to be reported. They show that effective ways certainly exist to quantify those implications. They detail the distortions that relegating stock-option accounting to footnotes creates. And they show why reporting option costs should in no way hamper young companies in their efforts to provide incentives. Options are indeed a powerful incentive, the authors agree, and failing to record a transaction that creates such powerful effects is economically indefensible. Worse, it encourages companies to favor options over alternative incentive systems. It is not the proper role of accounting standards, the authors argue, to distort executive and employee compensation by subsidizing one particular form of compensation and no other. Companies should choose compensation methods according to their economic benefits--not the way they are reported.
-
Expanding options in radiation oncology: neutron beam therapy
International Nuclear Information System (INIS)
Cohen, L.
1982-01-01
Twelve years experience with neutron beam therapy in Britain, the USA, Europe and Japan shows that local control is achievable in late-stage epidermoid cancer somewhat more frequently than with conventional radiotherapy. Tumours reputed to be radioresistant (salivary gland, bladder, rectosigmoid, melanoma, bone and soft-tissue sarcomas) have proved to be particularly responsive to neutrons. Pilot studies in brain and pancreatic tumours suggest promising new approaches to management of cancer in these sites. The availability of neutron therapy in the clinical environment opens new prospects for irradiation of 'radioresistant' tumours, permits more conservative cancer surgery, expands the use of elective chemotherapy and provides a wider range of options for cancer patients. (author)
-
Treatment Option Overview (Ovarian Germ Cell Tumors)
... Germ Cell Tumors Treatment (PDQ®)–Patient Version Treatment Option Overview Go to Health Professional Version Key Points ... and restore) the body’s blood cells. New treatment options Combination chemotherapy (the use of more than one ...
-
Lunar Cube Transfer Trajectory Options
Folta, David; Dichmann, Donald James; Clark, Pamela E.; Haapala, Amanda; Howell, Kathleen
2015-01-01
Numerous Earth-Moon trajectory and lunar orbit options are available for Cubesat missions. Given the limited Cubesat injection infrastructure, transfer trajectories are contingent upon the modification of an initial condition of the injected or deployed orbit. Additionally, these transfers can be restricted by the selection or designs of Cubesat subsystems such as propulsion or communication. Nonetheless, many trajectory options can b e considered which have a wide range of transfer duration, fuel requirements, and final destinations. Our investigation of potential trajectories highlights several options including deployment from low Earth orbit (LEO) geostationary transfer orbits (GTO) and higher energy direct lunar transfer and the use of longer duration Earth-Moon dynamical systems. For missions with an intended lunar orbit, much of the design process is spent optimizing a ballistic capture while other science locations such as Sun-Earth libration or heliocentric orbits may simply require a reduced Delta-V imparted at a convenient location along the trajectory.
-
Directory of Open Access Journals (Sweden)
Enkeleda Shehi
2015-11-01
Full Text Available The aim of this paper is to provide a brief overview of the third pillar of pensions in Albania and what are the different alternatives related to the payout. Referring to the actual development of this market in Albania, experience of the actors involved, I find it indispensable and necessary to provide some theoretical background and considerations, and then build up a simple model of projection of a pension scheme cost and a model for payout alternatives for the Albanian pension funds. A great deal of importance is shown towards posing the assumptions. Also, the paper gives an explanation about the differences among different payout options and suggests the best option for the existing pension funds in Albania. The best option represents my conclusion and recommendation for the actual third pillar of pensions and the others that might join latter. To sum up, the first conclusion of the paper is that the annuity option is the best alternative for the payout phase of the pensions. It has the advantage of providing the highest protection against the risk of longevity. The second conclusion is that based on other countries experiences, the annuity market have to be developed hand in hand with the pension system development. Therefore Albania should rely on and follow this experience.
-
Treatment Option Overview (Mycosis Fungoides and the Sezary Syndrome)
... 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 ...
-
Kulatilaka, N.; Perotti, E.C.
1998-01-01
We provide a strategic rationale for growth options under uncertainty and imperfect corn-petition. In a market with strategic competition, investment confers a greater capability to take advantage of future growth opportunities. This strategic advantage leads to the capture of a greater share of the
-
Energy Technology Data Exchange (ETDEWEB)
Baker, W.S.
1991-04-01
This report covers many aspects of various lighting options for homes. Types of light sources described include natural light, artificial light, incandescent lamps, fluorescent lamps, and high intensity discharge lamps. A light source selection guide gives the physical characteristics of these, design considerations, and common applications. Color, strategies for efficient lighting, and types of lighting are discussed. There is one section giving tips for various situations in specific rooms. Rooms and types of fixtures are shown on a matrix with watts saved by using the recommended type lighting for that room and room location. A major emphasis of this report is saving energy by utilizing the most suitable, recommended lighting option. (BN)
-
Evaluating State Options for Reducing Medicaid Churning
Swartz, Katherine; Short, Pamela Farley; Graefe, Deborah R.; Uberoi, Namrata
2015-01-01
Medicaid churning - the constant exit and re-entry of beneficiaries as their eligibility changes - has long been a problem for both Medicaid administrators and recipients. Churning will continue under the Affordable Care Act, because despite new federal rules, Medicaid eligibility will continue to be based on current monthly income. We developed a longitudinal simulation model to evaluate four policy options for modifying or extending Medicaid eligibility to reduce churning. The simulations suggest that two options, extending Medicaid eligibility either to the end of a calendar year or for twelve months after enrollment, would be far more effective in reducing churning than the other options of a three-month extension or eligibility based on projected annual income. States should consider implementation of the option that best balances costs, including both administration and services, with improved health of Medicaid enrollees. PMID:26153313
-
Options Counseling for the Pregnant Adolescent Patient.
Hornberger, Laurie L
2017-09-01
Each year, more than 500 000 girls and young women younger than 20 years become pregnant. It is important for pediatricians to have the ability and the resources in their offices to make a timely pregnancy diagnosis in their adolescent patients and provide them with nonjudgmental pregnancy options counseling. Counseling includes an unbiased discussion of the adolescent's legal options to either continue or terminate her pregnancy, supporting the adolescent in the decision-making process, and referring the adolescent to appropriate resources and services. Pediatricians who choose not to provide such discussions should promptly refer pregnant adolescent patients to a health care professional who will offer developmentally appropriate pregnancy options counseling. This approach to pregnancy options counseling has not changed since the original 1989 American Academy of Pediatrics statement on this issue. Copyright © 2017 by the American Academy of Pediatrics.
-
Berg River Textiles - Cleaner Production Option Report
DEFF Research Database (Denmark)
Wenzel, Henrik; Schneider, Zsig
schematics on the various wet treatment operations in the dyehouse, and water and energy balances were made to the extent data allowed. A number of options for saving water, energy and chemicals were identified. The potentials monetary savings and necessary investments were estimated, and a list of priority...... projects including milestone plans for their implementation was made. A saving potential of around 3 mill. R was identified with a pay-back period of around 0.2 years as average of the identified options. The company implemented a large number of the options right away....
-
Illiquidity Premia in the Equity Options Market
DEFF Research Database (Denmark)
Christoffersen, Peter; Goyenko, Ruslan; Jacobs, Kris
, including standard measures of illiquidity of the underlying stock, determinants of spreads, and a measure of net demand pressure. The positive illiquidity premium we find is consistent with existing evidence that market makers in the equity options market hold net long positions.......Illiquidity is well-known to be a significant determinant of stock and bond returns. We are the first to estimate illiquidity premia in equity option markets using effective spreads for a large cross-section of firms. The risk-adjusted return spread for illiquid over liquid options is 23 bps per...
-
Energy Technology Data Exchange (ETDEWEB)
Dahowski, Robert T.(BATTELLE (PACIFIC NW LAB)); Dooley, James J.(BATTELLE (PACIFIC NW LAB)); Brown, Daryl R.(BATTELLE (PACIFIC NW LAB)); Stephan, Alex J.(BATTELLE (PACIFIC NW LAB)); Badie I. Morsi
2001-10-19
Developing a carbon management strategy is a formidable task for nations as well as individual companies. It is often difficult to understand what options are available, let alone determine which may be optimal. In response to the need for a better understanding of complex carbon management options, Battelle has developed a state-of-the-art Geographic Information System (GIS) model with economic screening capability focused on carbon capture and geologic sequestration opportunities in the United States. This paper describes the development of this GIS-based economic screening model and demonstrates its use for carbon management analysis.
-
Real options methodology in public-private partnership projects valuation
Directory of Open Access Journals (Sweden)
Rakić Biljana
2014-01-01
Full Text Available PPP offers numerous benefits to both public and private partners in delivery of infrastructure projects. However this partnership also involves great risks which have to be adequately managed and mitigated. Private partners are especially sensitive to revenue risk, since they are mostly interested in the financial viability of the project. Thus they often expect public partners to provide some kind of risk-sharing mechanism in the form of Minimum Revenue Guarantees or abandonment options. The objective of this paper is to investigate whether the real option of abandoning the project increases its value. Therefore the binominal option pricing model and risk-neutral probability approach have been implemented to price the European and American abandonment options for the Build-Operate-Transfer (BOT toll road investment. The obtained results suggest that the project value with the American abandonment option is greater than with the European abandonment option, hence implying that American options offer greater flexibility and are more valuable for private partners. [Projekat Ministarstva nauke Republike Srbije, br. 179066 and III 42006
-
EXECUTIVE STOCK OPTION EXERCISING BEHAVIOR: EVIDENCE FROM BURSA MALAYSIA
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 ...
-
2012-08-28
....'' Mohawk did not identify disadvantages to the increase, other than the minor administrative burden of... and disadvantages of an adjustment to the current optional rider to the required NVOCC bond? 3. Please... in the cost of the China Bond Rider coverage. These disadvantages would be multiplied if the...
-
Taxing Stock Options: Efficiency, Fairness and Revenue Implications
Directory of Open Access Journals (Sweden)
Jack M. Mintz
2015-10-01
Full Text Available The federal Liberals and the NDP are right about this much: There is a more sensible way to tax the stock options that are granted as compensation by corporations than the approach the federal government takes now. But both parties are wrong about how much revenue an appropriate change in current tax policy will add to the treasury. Far from the half-billion dollars or more that both parties claim they will raise in federal tax revenue by changing the taxation of stock options, the appropriate reform will virtually raise no revenue. It could actually result in marginally lower tax revenue. As it stands, stock options are treated differently than salary and other forms of cash compensation when it comes to taxing an employee or director, in that they are subject to only half taxation, similar to capital gains. They are also treated differently than cash compensation for the corporation granting the options, in that they cannot be deducted from corporate income tax. The federal NDP and Liberals have both accepted the growing criticism, which only intensified in the aftermath of the 2008 financial crisis, that the lower tax rate is an unfair tax break for those employees who receive stock options. Both parties have proposed to change that, leaving an exemption for startup companies only, with the NDP proposing full personal taxation for all stock options except for start-up companies and the Liberals proposing it for options-based compensation exceeding $100,000. Treating stock options the same as cash compensation would indeed be more tax efficient, reducing the distortionary effect that can influence company compensation packages to give more weight to stock options and less to cash than they might otherwise. But the only way to ensure that efficiency is by treating both the personal tax side of the benefit, and the corporate tax side of the benefit, in the same way as other employee compensation. That is, applying full taxation to the recipient
-
Immunotoxin – a new treatment option in patients with relapsed and refractory Hodgkin lymphoma
Novakovic, Barbara Jezersek
2015-01-01
Background Even though Hodgkin lymphoma is a highly curable disease, some of the patients have either a refractory disease or experience a relapse following a successful primary therapy. Durable responses and remissions in patients with relapsed or refractory disease may be achieved in approximately one-half with salvage chemotherapy followed by high dose chemotherapy (HDT) and autologous hematopoietic cell rescue (SCT). On the other hand, patients who relapse after HDT and autologous SCT or those who have failed at least two prior multi-agent chemotherapy regimens and are not candidates for HDT have limited treatment options. Conclusions A new treatment option in this population is an immunotoxin Brentuximab vedotin composed of a CD30 directed antibody linked to the antitubulin agent monomethyl auristatin E. It has demonstrated a substantial effectiveness and an acceptable toxicity. In the pivotal study, the overall response rate was 75% with 34% of complete remissions. The median durations of response were 20.5 and 6.7 months for those with complete remission and all responding patients, respectively. The median overall survival was 40.5 months (3-years overall survival 54%) and the median progression-free survival 9.3 months. The most common non-hematologic toxicities were peripheral sensory neuropathy, nausea, and fatigue while the most common severe side effects were neutropenia, thrombocytopenia, anemia, and peripheral sensory neuropathy. PMID:26834516
-
Technetium removal: preliminary flowsheet options
International Nuclear Information System (INIS)
Eager, K.M.
1995-01-01
This document presents the results of a preliminary investigation into options for preliminary flowsheets for 99Tc removal from Hanford Site tank waste. A model is created to show the path of 99Tc through pretreatment to disposal. The Tank Waste Remediation (TWRS) flowsheet (Orme 1995) is used as a baseline. Ranges of important inputs to the model are developed, such as 99Tc inventory in the tanks and important splits through the TWRS flowsheet. Several technetium removal options are discussed along with sensitivities of the removal schemes to important model parameters
-
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 ...
-
Individual stock-option prices and credit spreads
Cremers, M.; Driessen, J.; Maenhout, P.; Weinbaum, D.
2008-01-01
This paper introduces measures of volatility and jump risk that are based on individual stock options to explain credit spreads on corporate bonds. Implied volatilities of individual options are shown to contain useful information for credit spreads and improve on historical volatilities when
-
Energy options?; Energie opties?
Energy Technology Data Exchange (ETDEWEB)
Van Sark, W. (ed.)
2006-05-15
March 2006 the so-called Options Document was published by the Energy research Centre of the Netherlands (ECN) and the Netherlands Environmental Assessment Agency (MNP). The document is an overview of technical options to reduce energy consumption and emission of greenhouse gases up to 2020. Next to a brief summary of the document a few reactions and comments on the contents of the document are given. [Dutch] Maart 2006 publiceerde het Energieonderzoek Centrum Nederland (ECN) en het Milieu- en Natuurplanbureau (MNP) het zogenaamde Optiedocument energie en emissies 2010-2020. Daarin wordt een overzicht gegeven van de technische mogelijkheden voor vermindering van het energieverbruik en de uitstoot van broeikasgassen en luchtverontreinigende stoffen tot 2020. Naast een korte samenvatting van het document worden enkele reacties gegeven op de inhoud.
-
Evaluating technology service options.
Blumberg, D F
1997-05-01
Four service and support options are available to healthcare organizations for maintaining their growth arsenals of medical and information technology. These options include maintaining and servicing all equipment using a facility-based biomedical engineering and MIS service department; using a combination of facility-based service and subcontracted service; expanding facility-based biomedical and MIS service departments to provide service to other healthcare organizations to achieve economies of scale; and outsourcing all maintenance, repair, and technical support services. Independent service companies and original equipment manufacturers (OEMs) are offering healthcare organizations a wider array of service and support capabilities than ever before. However, some health systems have successfully developed their own independent service organizations to take care of their own--and other healthcare organizations'--service and support needs.
-
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
-
Error Analysis for Fourier Methods for Option Pricing
Häppölä, Juho
2016-01-06
We provide a bound for the error committed when using a Fourier method to price European options when the underlying follows an exponential Levy dynamic. The price of the option is described by a partial integro-differential equation (PIDE). Applying a Fourier transformation to the PIDE yields an ordinary differential equation that can be solved analytically in terms of the characteristic exponent of the Levy process. Then, a numerical inverse Fourier transform allows us to obtain the option price. We present a novel bound for the error and use this bound to set the parameters for the numerical method. We analyze the properties of the bound for a dissipative and pure-jump example. The bound presented is independent of the asymptotic behaviour of option prices at extreme asset prices. The error bound can be decomposed into a product of terms resulting from the dynamics and the option payoff, respectively. The analysis is supplemented by numerical examples that demonstrate results comparable to and superior to the existing literature.
-
49 CFR 1572.401 - Fee collection options.
2010-10-01
... 49 Transportation 9 2010-10-01 2010-10-01 false Fee collection options. 1572.401 Section 1572.401 Transportation Other Regulations Relating to Transportation (Continued) TRANSPORTATION SECURITY ADMINISTRATION... ASSESSMENTS Fees for Security Threat Assessments for Hazmat Drivers § 1572.401 Fee collection options. (a...
-
47 CFR 76.981 - Negative option billing.
2010-10-01
... 47 Telecommunication 4 2010-10-01 2010-10-01 false Negative option billing. 76.981 Section 76.981 Telecommunication FEDERAL COMMUNICATIONS COMMISSION (CONTINUED) BROADCAST RADIO SERVICES MULTICHANNEL VIDEO AND CABLE TELEVISION SERVICE Cable Rate Regulation § 76.981 Negative option billing. (a) A cable operator...
-
Mine Drainage Generation and Control Options.
Wei, Xinchao; Rodak, Carolyn M; Zhang, Shicheng; Han, Yuexin; Wolfe, F Andrew
2016-10-01
This review provides a snapshot of papers published in 2015 relevant to the topic of mine drainage generation and control options. The review is broken into 3 sections: Generation, Prediction and Prevention, and Treatment Options. The first section, mine drainage generation, focuses on the characterization of mine drainage and the environmental impacts. As such, it is broken into three subsections focused on microbiological characterization, physiochemical characterization, and environmental impacts. The second section of the review is divided into two subsections focused on either the prediction or prevention of acid mine drainage. The final section focuses on treatment options for mine drainage and waste sludge. The third section contains subsections on passive treatment, biological treatment, physiochemical treatment, and a new subsection on beneficial uses for mine drainage and treatment wastes.
-
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
-
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
-
Designing flexible engineering systems utilizing embedded architecture options
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
-
48 CFR 1552.217-70 - Evaluation of contract options.
2010-10-01
... options. 1552.217-70 Section 1552.217-70 Federal Acquisition Regulations System ENVIRONMENTAL PROTECTION... 1552.217-70 Evaluation of contract options. As prescribed in 1517.208(a), insert the following solicitation provision in Requests for Proposals when the solicitation contains options. Evaluation of Contract...
-
Gender and the knowledge of financing options by immigrant ...
African Journals Online (AJOL)
In addition, the knowledge of non-traditional equity financing options such as crowdfunding is weak. There is no significant gender difference in the knowledge of financing options by immigrant entrepreneurs. Recommendations to improve the knowledge of financing options are suggested. Keywords: gender, knowledge ...
-
Irregular grid methods for pricing high-dimensional American options
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
-
Fundamentals of futures, options, basis and derivatives
Energy Technology Data Exchange (ETDEWEB)
Jones, D. [TD Securities Inc., Toronto, ON (Canada)
1997-08-01
Characteristic features of futures and options contracts, basis differentials and derivatives were defined and explained. A futures contract refers to an exchange-traded supply contract between a buyer and a seller where the buyer is obligated to take delivery and the seller is obligated to provide delivery of a fixed amount of a commodity at a predetermined price at a specified location. In contrast, an option contract gives the purchaser the right, but not the obligation, to buy or sell the underlying commodity at a certain price on or before an agreed date. Basis differential refers to the discount between two distinct delivery points to reflect the relative value of a commodity, such as natural gas, at those points. Advantages and disadvantages of futures and options contacts, the factors affecting options pricing, and basis differentials, and the methods of calculating basis differentials were described. The nature and intricacies of derivatives, their benefits, in particular their use as a tool for the effective management of the volatilities associated with the oil and gas industry were explained. Their shortcomings such as the high liquidity risk, were also described. Examples of derivative transactions were provided to illustrate the interrelationships of futures/options/derivatives, and their role in financial risk management.
-
Fundamentals of futures, options, basis and derivatives
International Nuclear Information System (INIS)
Jones, D.
1997-01-01
Characteristic features of futures and options contracts, basis differentials and derivatives were defined and explained. A futures contract refers to an exchange-traded supply contract between a buyer and a seller where the buyer is obligated to take delivery and the seller is obligated to provide delivery of a fixed amount of a commodity at a predetermined price at a specified location. In contrast, an option contract gives the purchaser the right, but not the obligation, to buy or sell the underlying commodity at a certain price on or before an agreed date. Basis differential refers to the discount between two distinct delivery points to reflect the relative value of a commodity, such as natural gas, at those points. Advantages and disadvantages of futures and options contacts, the factors affecting options pricing, and basis differentials, and the methods of calculating basis differentials were described. The nature and intricacies of derivatives, their benefits, in particular their use as a tool for the effective management of the volatilities associated with the oil and gas industry were explained. Their shortcomings such as the high liquidity risk, were also described. Examples of derivative transactions were provided to illustrate the interrelationships of futures/options/derivatives, and their role in financial risk management
-
Management of stage IV rectal cancer: Palliative options
Ronnekleiv-Kelly, Sean M; Kennedy, Gregory D
2011-01-01
Approximately 30% of patients with rectal cancer present with metastatic disease. Many of these patients have symptoms of bleeding or obstruction. Several treatment options are available to deal with the various complications that may afflict these patients. Endorectal stenting, laser ablation, and operative resection are a few of the options available to the patient with a malignant large bowel obstruction. A thorough understanding of treatment options will ensure the patient is offered the most effective therapy with the least amount of associated morbidity. In this review, we describe various options for palliation of symptoms in patients with metastatic rectal cancer. Additionally, we briefly discuss treatment for asymptomatic patients with metastatic disease. PMID:21412493
-
Option's value - Greek measures fluctuations and their consequences
Directory of Open Access Journals (Sweden)
Izabela Pruchnicka-Grabias
2004-01-01
Full Text Available Options are financial instruments that can be applied in many situations. Options buyers sell risk which is bought by their sellers who are obliged to reduce it as much as possible. It can be done by using hedging strategies based on Greek letters and options values analysis. The author proves that Greek letters are not constant during the time of option’s life. The paper shows to what extent they are influenced by such factors as risk free interest rate, volatility, underlying asset price and time to maturity. The conclusion is that options sellers must play an active role, i.e. follow fluctuations of all these parameters and modify their hedging portfolios regularly.
-
Hazardous landfill management, control options
International Nuclear Information System (INIS)
Corbin, M.H.; Lederman, P.B.
1982-01-01
The land disposal of hazardous wastes has been a common practice over the last half century. The industrial and environmental communities, as well as the public, have an immediate challenge to control the contaminants that may be released from waste land disposal facilities. At the same time, land disposal continues to be, in many cases, the only available disposal technique that can be utilized in the next five years. Thus, it is extremely important that environmentally sound landfill management and control techniques be utilized, both for inactive and active sites. There are a number of key steps in developing a sound management and control plan. These include problem definition, personnel safety, characterization, evaluation of control options, cost-effectiveness analysis and development of an integrated control plan. A number of control options, including diversion, regrading, sealing, and leachate treatment are available and more cost effective in most cases than waste removal. These and other options, as well as the methodology to develop an integrated control plan, are discussed, together with examples. (Auth.)
-
Fronstin, Paul; Helman, Ruth
2009-07-01
PUBLIC SUPPORT FOR HEALTH REFORM: Findings from the 2009 Health Confidence Survey--the 12th annual HCS--indicate that Americans have already formed strong opinions regarding various aspects of health reform, even before details have been released regarding various key factors. These issues include health insurance market reform, the availability of a public plan option, mandates on employers and individuals, subsidized coverage for the low-income population, changes to the tax treatment of job-based health benefits, and regulatory oversight of health care. These opinions may change as details surface, especially as they concern financing options. In the absence of such details, the 2009 HCS finds generally strong support for the concepts of health reform options that are currently on the table. U.S. HEALTH SYSTEM GETS POOR MARKS, BUT SO DOES A MAJOR OVERHAUL: A majority rate the nation's health care system as fair (30 percent) or poor (29 percent). Only a small minority rate it excellent (6 percent) or very good (10 percent). While 14 percent of Americans think the health care system needs a major overhaul, 51 percent agree with the statement "there are some good things about our health care system, but major changes are needed." NATIONAL HEALTH PLAN ELEMENTS RATED HIGHLY: Between 68 percent and 88 percent of Americans either strongly or somewhat support health reform ideas such as national health plans, a public plan option, guaranteed issue, expansion of Medicare and Medicaid, and employer and individual mandates. MIXED REACTION TO HEALTH BENEFITS TAX CAP: Reaction to capping the current tax exclusion of employment-based health benefits is mixed. Nearly one-half of Americans (47 percent) would switch to a lower-cost plan if the tax exclusion were capped, 38 percent would stay on their current plan and pay the additional taxes, and 9 percent don't know. CONTINUED FAITH IN EMPLOYMENT-BASED BENEFITS, BUT DOUBTS ON AFFORDABILITY: Individuals with employment
-
48 CFR 52.217-3 - Evaluation Exclusive of Options.
2010-10-01
... Options. 52.217-3 Section 52.217-3 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION....217-3 Evaluation Exclusive of Options. As prescribed in 17.208(a), insert a provision substantially the same as the following in solicitations when the solicitation includes an option clause and does...
-
78 FR 68868 - First-Class Mail Postage Payment Option
2013-11-15
... Option AGENCY: Postal Regulatory Commission. ACTION: Notice. SUMMARY: The Commission is noticing a recent... the option of increasing the value of the pre-approved envelopes by applying a customized Picture... encourages increased mail volume (factors 1 and 7) and, by providing a more convenient option for sending...
-
Option pricing with COS method on Graphics Processing Units
B. Zhang (Bo); C.W. Oosterlee (Kees)
2009-01-01
htmlabstractIn this paper, acceleration on the GPU for option pricing by the COS method is demonstrated. In particular, both European and Bermudan options will be discussed in detail. For Bermudan options, we consider both the Black-Scholes model and Levy processes of infinite activity. Moreover,
-
Currency lookback options and observation frequency: A binomial approach
T.H.F. Cheuk; A.C.F. Vorst (Ton)
1997-01-01
textabstractIn the last decade, interest in exotic options has been growing, especially in the over-the-counter currency market. In this paper we consider Iookback currency options, which are path-dependent. We show that a one-state variable binomial model for currency Iookback options can
-
42 CFR 438.356 - State contract options.
2010-10-01
... 42 Public Health 4 2010-10-01 2010-10-01 false State contract options. 438.356 Section 438.356 Public Health CENTERS FOR MEDICARE & MEDICAID SERVICES, DEPARTMENT OF HEALTH AND HUMAN SERVICES (CONTINUED) MEDICAL ASSISTANCE PROGRAMS MANAGED CARE External Quality Review § 438.356 State contract options...
-
Writing about Clients: Ethical Considerations and Options
Sperry, Len; Pies, Ronald
2010-01-01
Today, the decision to prepare clinical case material for publication is a decision that cannot be taken lightly. The decision involves reviewing ethical considerations and choosing among various options to safeguard client privacy. Such options include seeking the client's permission, disguising case material, and developing composite case…
-
Phytoremediation options for radioactively contaminated sites evaluated
International Nuclear Information System (INIS)
Vandenhove, Hildegarde
2013-01-01
Highlights: ► We present an overview of the most important site and environmental radioactive contamination problems encountered. ► The potential role of different phytomanagement options is discussed and illustrated with examples. ► The phytomanagement options considered are: soil phytoextraction, rhizofiltration, wetlands and alternative land use. - Abstract: The application of nuclear energy and the use of radionuclides for industrial, medical and research purposes have caused significant contamination of certain sites and their environment, which could result in health problems for several centuries if nothing is undertaken to remedy these situations. Except for the immediate environment of the facility, where decontamination activities may be feasible and affordable, the contamination often extents over a vast area and decontamination would be costly and could result in vast amounts of waste. Therefore, more realistic yet efficient remediation options should be searched for of which phytomanagement is among the potential options. A number of phytomanagement approaches will be discussed
-
Pricing the option adjust spread of Brazilian Eurobonds
Gonçalves, Franklin de O.
1997-01-01
This paper presents results of a pricing system to compute the option adjusted spread ("DAS") of Eurobonds issued by Brazilian firms. The system computes the "DAS" over US treasury rates taktng imo account the embedded options present on these bonds. These options can be calls ("callable bond"), puts ("putable bond") or combinations ("callable and putable bond"). The pricing model takes into account the evolution of the term structure along time, is compatible with the observab...
-
International Nuclear Information System (INIS)
Saegusa, T.; Abe, H.; Fukuda, S.
1983-01-01
Type and size of spent fuel shipping packagings and packaging transport ships in spent fuel transport system would have been determined separately in response to technical requirements etc. of reactor sites and reprocessing plants. However, since more and more spent fuel will be generated from world's nuclear power plants and will be transported much frequently to reprocessing plants or storage facilities, the current spent fuel transport system will have to be necessarily reexamined from the operational and economical aspects or an optimum transport system may have to be newly determined in the near future. In the literature, a variety of options are found, particularly of spent fuel packagings. This paper listed and classified options of spent fuel packagings and packaging transport ships in the transportation systems of spent fuel on the basis of literature surveys. These options were discussed from viewpoints of designers and users and compared in terms of transport efficiency. Finally, one way to determine an optimum transport system of spent fuel was indicated considering the total transport system in the light of safety, operational efficiency and economy
-
Merkel Cell Carcinoma: Chemotherapy and Emerging New Therapeutic Options
International Nuclear Information System (INIS)
Desch, L.; Kunstfeld, R.
2013-01-01
Merkel cell carcinoma (MCC) is a rare neuroendocrine skin tumor that typically occurs in elderly, immunosuppressed patients. Infection with Merkel cell virus (MCV) and immunosuppression play an important role in the development of MCC. Different staging systems make it difficult to compare the existing clinical data. Furthermore, there predominantly exist single case reports and case series, but no randomized controlled trials. However, it is necessary to develop further therapy options because MCC tends to grow rapidly and metastasizes early. In the metastatic disease, therapeutic attempts were made with various chemotherapeutic combination regimens. Because of the high toxicity of these combinations, especially those established in SCLC, and regarding the unsatisfying results, the challenge is to balance the pros and cons of chemotherapy individually and carefully. Up to now, emerging new therapy options as molecular-targeted agents, for example, pipebuzone, imatinib, or somatostatin analogues as well as immunologic als, for example, imiquimod and interferons, also showed less success concerning the disease-free response rates. According to the literature, neither chemotherapy nor molecular-targeted agents or immunotherapeutic strategies have shown promising effects in the therapy of the metastatic disease of MCC so far. There is a great demand for randomized controlled studies and a need for an MCC registry and multicenter clinical trials due to the tumors curiosity.
-
48 CFR 52.207-5 - Option To Purchase Equipment.
2010-10-01
... 48 Federal Acquisition Regulations System 2 2010-10-01 2010-10-01 false Option To Purchase....207-5 Option To Purchase Equipment. As prescribed in 7.404, insert a clause substantially the same as the following: Option To Purchase Equipment (FEB 1995) (a) The Government may purchase the equipment...
-
77 FR 26827 - Medicaid Program; Community First Choice Option
2012-05-07
... Medicare & Medicaid Services 42 CFR Part 441 Medicaid Program; Community First Choice Option; Final Rule #0... [CMS-2337-F] RIN 0938-AQ35 Medicaid Program; Community First Choice Option AGENCY: Centers for Medicare... Affordable Care Act, which establishes a new State option to provide home and community-based attendant...
-
48 CFR 52.217-6 - Option for Increased Quantity.
2010-10-01
... 48 Federal Acquisition Regulations System 2 2010-10-01 2010-10-01 false Option for Increased....217-6 Option for Increased Quantity. As prescribed in 17.208(d), insert a clause substantially the same as the following: Option for Increased Quantity (MAR 1989) The Government may increase the...
-
Options For The Disposition Of UK Civil Plutonium Stocks
Energy Technology Data Exchange (ETDEWEB)
Moore, R.G.; Zimmerman, C.H.; Scales, C.; Worrall, A.; Sims, H.E.; Fowler, L. [Nexia Solutions Ltd (United Kingdom)
2008-07-01
The UK Civil Pu Disposition project will identify and assess the viability of several technical options for dealing with the UK's civil separated Pu stockpile and the discriminators that will support technology option down-selection decisions. The overall aim will be to deliver feasible technical options and comprehensive information on political, economic, sociological, environmental and technical factors for each strategic option. This paper briefly describes the work completed to date to assess immobilisation and re-use technologies as disposition strategies and on the work that will identify discriminators to support technology down-selection. The Pu disposition project is anticipated to continue for several years while the necessary investigations are made to fully understand the various options. The work planned over this period is discussed. (authors)
-
Options For The Disposition Of UK Civil Plutonium Stocks
International Nuclear Information System (INIS)
Moore, R.G.; Zimmerman, C.H.; Scales, C.; Worrall, A.; Sims, H.E.; Fowler, L.
2008-01-01
The UK Civil Pu Disposition project will identify and assess the viability of several technical options for dealing with the UK's civil separated Pu stockpile and the discriminators that will support technology option down-selection decisions. The overall aim will be to deliver feasible technical options and comprehensive information on political, economic, sociological, environmental and technical factors for each strategic option. This paper briefly describes the work completed to date to assess immobilisation and re-use technologies as disposition strategies and on the work that will identify discriminators to support technology down-selection. The Pu disposition project is anticipated to continue for several years while the necessary investigations are made to fully understand the various options. The work planned over this period is discussed. (authors)
-
Lack of tolerable treatment options for patients with schizophrenia
Directory of Open Access Journals (Sweden)
Citrome L
2015-12-01
Full Text Available Leslie Citrome,1 Anna Eramo,2 Clement Francois,2 Ruth Duffy,3 Susan N Legacy,3 Steve J Offord,3 Holly B Krasa,3 Stephen S Johnston,4 Alice Guiraud-Diawara,5 Siddhesh A Kamat,3 Patricia Rohman3 1Department of Psychiatry and Behavioral Sciences, New York Medical College, Valhalla, NY, 2Lundbeck, Deerfield, IL, 3Otsuka America Pharmaceuticals, Princeton, NJ, 4Truven Health Analytics, Bethesda, MD, USA; 5Lundbeck SAS, Issy-les-Moulineaux, France Purpose: Atypical antipsychotics (AAs, an effective treatment for schizophrenia, have a range of pharmacologic properties leading to differences in tolerability as well as heterogeneity in treatment response. Individual patient characteristics must be considered when making treatment choices, especially from an adverse event (AE or tolerability perspective. Despite the availability of numerous AAs, after appraising patient characteristics at the time of treatment selection, physicians may quickly run out of tolerable treatment options. Patients and methods: AE risk factors, defined as having either a prior history of an AE or a risk factor for that AE, were determined for Medicaid-insured and Commercially insured patients using database analysis. Patients receiving AA treatment between January 1, 2010 and December 31, 2012 defined the index date of first observed AA prescription during this period. Nine AAs were evaluated for association with AE risk factors as informed by drug prescribing information from the different manufacturers and published meta-analyses. The proportion of patients with pre-index AE risk factors prescribed an AA associated with that risk factor was then determined. Results: A high proportion of patients (>80% were prescribed an AA associated with extrapyramidal symptoms or akathisia despite experiencing extrapyramidal symptoms or akathisia prior to AA treatment initiation. Similar trends were observed among patients with diabetes (>60% and obesity (>40%. From the nine treatment
-
Monte Carlo methods for pricing financial options
Indian Academy of Sciences (India)
R. Narasimhan (Krishtel eMaging) 1461 1996 Oct 15 13:05:22
traded by financial institutions, fund managers and corporate treasurers in the over the counter market. Options can often be ..... (under which discounted security price processes are martingales). This corresponds to ..... However, it requires explicit knowledge of option prices at all states of the Markov process and hence is ...
-
Index options : Pricing, implied densities and returns
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
-
Analytic solution for American strangle options using Laplace-Carson transforms
Kang, Myungjoo; Jeon, Junkee; Han, Heejae; Lee, Somin
2017-06-01
A strangle has been important strategy for options when the trader believes there will be a large movement in the underlying asset but are uncertain of which way the movement will be. In this paper, we derive analytic formula for the price of American strangle options. American strangle options can be mathematically formulated into the free boundary problems involving two early exercise boundaries. By using Laplace-Carson Transform(LCT), we can derive the nonlinear system of equations satisfied by the transformed value of two free boundaries. We then solve this nonlinear system using Newton's method and finally get the free boundaries and option values using numerical Laplace inversion techniques. We also derive the Greeks for the American strangle options as well as the value of perpetual American strangle options. Furthermore, we present various graphs for the free boundaries and option values according to the change of parameters.
-
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.
-
Disposition Options for Uranium-233
International Nuclear Information System (INIS)
Beahm, E.C.; Dole, L.R.; Forsberg, C.W.; Icenhour, A.S.; Storch, S.N.
1999-01-01
The U.S. Department of Energy (DOE) Fissile Materials Disposition Program (MD), in support of the U.S. arms-control and nonproliferation policies, has initiated a program to disposition surplus weapons-usable fissile material by making it inaccessible and unattractive for use in nuclear weapons. Weapons-usable fissile materials include plutonium, high-enriched uranium (HEU), and uranium-233 (sup 233)U. In support of this program, Oak Ridge National Laboratory led DOE's contractor efforts to identify and characterize options for the long-term storage and disposal of excess (sup 233)U. Five storage and 17 disposal options were identified and are described herein
-
2012-01-11
... your overall business costs? If so, how? 2. What do you see as the advantages and disadvantages of an... believes that the optional rider method of conducting business is ``a fair and equitable'' solution to the... coverage is warranted due to the lower value of the U.S. dollar today.'' Mohawk did not identify...
-
Thermometers: Understand the Options
... the options Thermometers come in a variety of styles. Understand the different types of thermometers and how ... MA. Fever in infants and children: Pathophysiology and management. http://www.uptodate.com/home. Accessed July 23, ...
-
Renewables-to-reefs? - Decommissioning options for the offshore wind power industry.
Smyth, Katie; Christie, Nikki; Burdon, Daryl; Atkins, Jonathan P; Barnes, Richard; Elliott, Michael
2015-01-15
The offshore wind power industry is relatively new but increasing globally, hence it is important that the whole life-cycle is managed. The construction-operation-decommissioning cycle is likely to take 20-30 years and whilst decommissioning may not be undertaken for many years, its management needs to be addressed in both current and future marine management regimes. This can be defined within a Drivers-Activities-Pressures-State Changes-Impacts (on human Welfare)-Responses framework. This paper considers the main decommissioning options - partial or complete removal of all components. A SWOT analysis shows environmental and economic benefits in partial as opposed to complete removal, especially if habitat created on the structures has conservation or commercial value. Benefits (and repercussions) are defined in terms of losses and gains of ecosystem services and societal benefits. The legal precedents and repercussions of both options are considered in terms of the 10-tenets of sustainable marine management. Finally a 'renewables-to-reefs' programme is proposed. Copyright © 2014 Elsevier Ltd. All rights reserved.
-
Ghana and the nuclear power option
International Nuclear Information System (INIS)
Fletcher, J.J.; Ennison, I.
2000-01-01
For every country, dependable and continuous supply of electricity is a prerequisite for ensuring sustainable development. In Ghana, Ghanaians have currently known the consequences of disrupted and inadequate supply of electricity. Globally too the call of ''Agenda 21'' of the Rio de Janeiro Conference (Earth Summit) to engage in the development and supply of electricity in a sustainable manner imposes on us certain limitations in our choice of energy option to utilise. Taking into account the high economic and population growths with the subsequent increase in demand for electricity in the 21st century, the fact that Ghana has no coal and imports oil which will be in dwindling supply in the 21st century and that the total hydro supply in Ghana will not be sufficient for our electricity demand in the next century, this paper proposes that Ghana starts now to plan for the introduction of the nuclear option so that in the long term we may have in place an environmentally friendly, dependable and reliable supply of energy. The paper also highlights the economic competitiveness of nuclear power over the other energy options in Ghana and addresses the apprehension and misunderstanding surrounding the nuclear power option. (author)
-
OIL AND GAS FUTURES AND OPTIONS MARKET
Directory of Open Access Journals (Sweden)
Ante Nosić
2017-01-01
Full Text Available Energy mineral resources markets are represented by complex supply and demand ratios which are depending on different factors such as technical (transport and geopolitical. The main specific of energy markets is represented by an uneven geographic distribution of hydrocarbon reserves and exploration on one hand and energy consumption on the other. World oil markets, although geographically localized, because of specific market trade, represent unique global market with decreasing price difference. Price differences are result of development of a transport possibilities of oil supply. Development of transport routes of natural gas and increasing number of liquefied natural gas terminals in the world give pressure to natural gas market and its integration into global gas market. Integration of regional gas markets into a common European gas market is main energy policy of EU concerning natural gas. On the other hand, there are still significant price differences on some markets (e.g. United States of America - South East Asia. Development of global energy markets is enabled by development of a futures and options contracts of an energy trade which have replaced bilateral contract deals between producers and consumers. Futures contracts are standardized contracts traded on exchanges. Buyer agrees to buy certain quantity of stock for an agreed upon price and with some future delivery date. Option is a contract which gives a buyer the option of the right to buy (or sell, depending on the option an asset at predetermined price and at a later date. Stocks price risk can be managed with the purchase and selling futures and options contracts. This paper deals with futures and options energy markets and their market strategies.
-
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
-
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
-
48 CFR 536.213-371 - Bids that include options.
2010-10-01
... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Bids that include options... Contracting for Construction 536.213-371 Bids that include options. (a) Subject to the limitations in paragraph (c) of this section, you may include options in contracts if it is in the Government's interest...
-
76 FR 10735 - Medicaid Program; Community First Choice Option
2011-02-25
... for Medicare & Medicaid Services 42 CFR Part 441 Medicaid Program; Community First Choice Option... Part 441 [CMS-2337-P] RIN 0938-AQ35 Medicaid Program; Community First Choice Option AGENCY: Centers for... Section 2401 of the Affordable Care Act (ACA) which establishes a new State option to provide home and...
-
48 CFR 52.217-8 - Option To Extend Services.
2010-10-01
... 48 Federal Acquisition Regulations System 2 2010-10-01 2010-10-01 false Option To Extend Services....217-8 Option To Extend Services. As prescribed in 17.208(f), insert a clause substantially the same as the following: Option To Extend Services (NOV 1999) The Government may require continued performance...
-
1992 Columbia River Salmon Flow Measures Options Analysis/EIS : Appendices.
Energy Technology Data Exchange (ETDEWEB)
1992-01-01
This Options Analysis/Environmental Impact Statement (OA/EIS) identifies, presents effects of, and evaluates the potential options for changing instream flow levels in efforts to increase salmon populations in the lower Columbia and Snake rivers. The potential actions would be implemented during 1992 to benefit juvenile and adult salmon during migration through eight run-of-river reservoirs. The Corps of Engineers (Corps) prepared this document in cooperation with the Bonneville Power Administration and the Bureau of Reclamation. The US Fish and Wildlife Service (FWS) is a participating agency. The text and appendices of the document describe the characteristics of 10 Federal projects and one private water development project in the Columbia River drainage basin. Present and potential operation of these projects and their effects on the salmon that spawn and rear in the Columbia and Snake River System are presented. The life history, status, and response of Pacific salmon to current environmental conditions are described. The document concludes with an evaluation of the potential effects that could result from implementing proposed actions. The conclusions are based on evaluation of existing data, utilization of numerical models, and application of logical inference. This volume contains the appendices.
-
Optional contributions have positive effects for volunteering public goods games
Song, Qi-Qing; Li, Zhen-Peng; Fu, Chang-He; Wang, Lai-Sheng
2011-11-01
Public goods (PG) games with the volunteering mechanism are referred to as volunteering public goods (VPG) games, in which loners are introduced to the PG games, and a loner obtains a constant payoff but not participating the game. Considering that small contributions may have positive effects to encourage more players with bounded rationality to contribute, this paper introduces optional contributions (high value or low value) to these typical VPG games-a cooperator can contribute a high or low payoff to the public pools. With the low contribution, the logit dynamics show that cooperation can be promoted in a well mixed population comparing to the typical VPG games, furthermore, as the multiplication factor is greater than a threshold, the average payoff of the population is also enhanced. In spatial VPG games, we introduce a new adjusting mechanism that is an approximation to best response. Some results in agreement with the prediction of the logit dynamics are found. These simulation results reveal that for VPG games the option of low contributions may be a better method to stimulate the growth of cooperation frequency and the average payoff of the population.
-
1992 Columbia River salmon flow measures Options Analysis/EIS: Appendices
International Nuclear Information System (INIS)
1992-01-01
This Options Analysis/Environmental Impact Statement (OA/EIS) identifies, presents effects of, and evaluates the potential options for changing instream flow levels in efforts to increase salmon populations in the lower Columbia and Snake rivers. The potential actions would be implemented during 1992 to benefit juvenile and adult salmon during migration through eight run-of-river reservoirs. The Corps of Engineers (Corps) prepared this document in cooperation with the Bonneville Power Administration and the Bureau of Reclamation. The US Fish and Wildlife Service (FWS) is a participating agency. The text and appendices of the document describe the characteristics of 10 Federal projects and one private water development project in the Columbia River drainage basin. Present and potential operation of these projects and their effects on the salmon that spawn and rear in the Columbia and Snake River System are presented. The life history, status, and response of Pacific salmon to current environmental conditions are described. The document concludes with an evaluation of the potential effects that could result from implementing proposed actions. The conclusions are based on evaluation of existing data, utilization of numerical models, and application of logical inference. This volume contains the appendices
-
Hybrid options for treating cardiac disease.
Umakanthan, Ramanan; Leacche, Marzia; Zhao, David X; Gallion, Anna H; Mishra, Prabodh C; Byrne, John G
2011-01-01
The options for treating heart disease have greatly expanded during the course of the last 2 1/2 decades with the advent of hybrid technology. The hybrid option for treating cardiac disease implies using the technology of both interventional cardiology and cardiac surgery to treat cardiac disease. This rapidly developing technology has given rise to new and creative techniques to treat cardiac disease involving coronary artery disease, coronary artery disease and cardiac valve disease, and atrial fibrillation. It has also led to the establishment of new procedural suites called hybrid operating rooms that facilitate the integration of technologies of interventional cardiology catheterization laboratories with those of cardiac surgery operating rooms. The development of hybrid options for treating cardiac disease has also greatly augmented teamwork and collaboration between interventional cardiologists and cardiac surgeons. Copyright © 2011 Elsevier Inc. All rights reserved.
-
CANDU Digital Control Computer upgrade options
International Nuclear Information System (INIS)
De Jong, M.S.; De Grosbois, J.; Qian, T.
1997-01-01
This paper reviews the evolution of Digital Control Computers (DCC) in CANDU power plants to the present day. Much of this evolution has been to meeting changing control or display requirements as well as the replacement of obsolete, or old and less reliable technology with better equipment that is now available. The current work at AECL and Canadian utilities to investigate DCC upgrade options, alternatives, and strategies are examined. The dependence of a particular upgrade strategy on the overall plant refurbishment plans are also discussed. Presently, the upgrade options range from replacement of individual obsolete system components, to replacement of the entire DCC hardware without changing the software, to complete replacement of the DCCs with a functionally equivalent system using new control computer equipment and software. Key issues, constraints and objectives associated with these DCC upgrade options are highlighted. (author)
-
Pricing and Hedging Quanto Options in Energy Markets
DEFF Research Database (Denmark)
Benth, Fred Espen; Lange, Nina; Myklebust, Tor Åge
approach we derive a closed form option pricing formula for energy quanto options, under the assumption that the underlying assets are log-normally distributed. Our approach encompasses several interesting cases, such as geometric Brownian motions and multifactor spot models. We also derive delta and gamma......In energy markets, the use of quanto options have increased significantly in the recent years. The payoff from such options are typically written on an underlying energy index and a measure of temperature and are suited for managing the joint price and volume risk in energy markets. Using an HJM...... expressions for hedging. Furthermore, we illustrate the use of our model by an empirical pricing exercise using NYMEX traded natural gas futures and CME traded Heating Degree Days futures for New York....
-
Selection of appropriate greenhouse gas mitigation options
Energy Technology Data Exchange (ETDEWEB)
Ramanathan, R. [Indira Ghandi Institute of Development Research, Mumbai (India)
1999-10-01
Greenhouse gas mitigation options help in reducing greenhouse gas emissions so as to avoid the adverse environmental impacts due to global warming/climate change. They have different characteristics when evaluated using different criteria. For example, some options may be very cost effective, while some may have an additional advantage of reducing local pollution. Hence, selection of these options, for consideration by a national government or by a funding agency, has to incorporate multiple criteria. In this paper, some important criteria relevant to the selection are discussed, and a multi-criteria methodology is suggested for making appropriate selection. The methodology, called the Analytic Hierarchy Process, is described using two illustrations. (author)
-
Taking Action Against Ocean Acidification: A Review of Management and Policy Options
Billé, Raphaël; Kelly, Ryan; Biastoch, Arne; Harrould-Kolieb, Ellycia; Herr, Dorothée; Joos, Fortunat; Kroeker, Kristy; Laffoley, Dan; Oschlies, Andreas; Gattuso, Jean-Pierre
2013-10-01
Ocean acidification has emerged over the last two decades as one of the largest threats to marine organisms and ecosystems. However, most research efforts on ocean acidification have so far neglected management and related policy issues to focus instead on understanding its ecological and biogeochemical implications. This shortfall is addressed here with a systematic, international and critical review of management and policy options. In particular, we investigate the assumption that fighting acidification is mainly, but not only, about reducing CO2 emissions, and explore the leeway that this emerging problem may open in old environmental issues. We review nine types of management responses, initially grouped under four categories: preventing ocean acidification; strengthening ecosystem resilience; adapting human activities; and repairing damages. Connecting and comparing options leads to classifying them, in a qualitative way, according to their potential and feasibility. While reducing CO2 emissions is confirmed as the key action that must be taken against acidification, some of the other options appear to have the potential to buy time, e.g. by relieving the pressure of other stressors, and help marine life face unavoidable acidification. Although the existing legal basis to take action shows few gaps, policy challenges are significant: tackling them will mean succeeding in various areas of environmental management where we failed to a large extent so far.
-
Taking action against ocean acidification: a review of management and policy options.
Billé, Raphaël; Kelly, Ryan; Biastoch, Arne; Harrould-Kolieb, Ellycia; Herr, Dorothée; Joos, Fortunat; Kroeker, Kristy; Laffoley, Dan; Oschlies, Andreas; Gattuso, Jean-Pierre
2013-10-01
Ocean acidification has emerged over the last two decades as one of the largest threats to marine organisms and ecosystems. However, most research efforts on ocean acidification have so far neglected management and related policy issues to focus instead on understanding its ecological and biogeochemical implications. This shortfall is addressed here with a systematic, international and critical review of management and policy options. In particular, we investigate the assumption that fighting acidification is mainly, but not only, about reducing CO2 emissions, and explore the leeway that this emerging problem may open in old environmental issues. We review nine types of management responses, initially grouped under four categories: preventing ocean acidification; strengthening ecosystem resilience; adapting human activities; and repairing damages. Connecting and comparing options leads to classifying them, in a qualitative way, according to their potential and feasibility. While reducing CO2 emissions is confirmed as the key action that must be taken against acidification, some of the other options appear to have the potential to buy time, e.g. by relieving the pressure of other stressors, and help marine life face unavoidable acidification. Although the existing legal basis to take action shows few gaps, policy challenges are significant: tackling them will mean succeeding in various areas of environmental management where we failed to a large extent so far.
-
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.
-
Energy Technology Data Exchange (ETDEWEB)
Robert M. Neilson
2006-03-01
This report, developed by the Idaho National Laboratory, is provided as an introduction to and an update of the status of technologies for the generation and use of energy. Its purpose is to provide information useful for identifying and evaluating Idaho’s energy options, and for developing and implementing Idaho’s energy direction and policies.
-
On option purchase agreements for new generation capacity
International Nuclear Information System (INIS)
Ramesh, V.C.
1996-01-01
Given the increasing competition in the power generation sector, and the resulting uncertainty surrounding long-term investments in new generation projects, utilities are beginning to hedge their risks using financial instruments called options. The purpose of this paper is to explain, in a tutorial fashion, the issues involved in an option contract for new generation capacity (long-term firm energy). Particular emphasis is placed on the valuation of such options. The concepts are explained with illustrative examples
-
Franchise ownership redirection: real options perspective
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...
-
42 CFR 447.51 - Requirements and options.
2010-10-01
... 42 Public Health 4 2010-10-01 2010-10-01 false Requirements and options. 447.51 Section 447.51 Public Health CENTERS FOR MEDICARE & MEDICAID SERVICES, DEPARTMENT OF HEALTH AND HUMAN SERVICES..., Premium Or Similar Cost Sharing Charge § 447.51 Requirements and options. (a) The plan must provide that...
-
Flexible Work Options within the Organisational System
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…
-
41 CFR 101-39.004 - Optional operations.
2010-07-01
...-INTERAGENCY FLEET MANAGEMENT SYSTEMS 39.0-General Provisions § 101-39.004 Optional operations. Nothing in this part shall preclude the establishment or operation of interagency fleet management systems by GSA or by... 41 Public Contracts and Property Management 2 2010-07-01 2010-07-01 true Optional operations. 101...
-
Asteroid Redirect Robotic Mission: Robotic Boulder Capture Option Overview
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.
-
45 CFR 7.4 - Option to acquire foreign rights.
2010-10-01
... 45 Public Welfare 1 2010-10-01 2010-10-01 false Option to acquire foreign rights. 7.4 Section 7.4... Option to acquire foreign rights. In any case where it is determined that all domestic rights should be...-wide regulations issued thereunder, that the Government shall reserve an option to require the...
-
5 CFR 870.1205 - Electing portability for Option B.
2010-01-01
... 5 Administrative Personnel 2 2010-01-01 2010-01-01 false Electing portability for Option B. 870... portability for Option B. (a) The employing agency must notify the employee/assignee(s) of the loss of coverage and the right to elect portability for Option B either before or immediately after the event...
-
34 CFR 7.4 - Option to acquire foreign rights.
2010-07-01
... 34 Education 1 2010-07-01 2010-07-01 false Option to acquire foreign rights. 7.4 Section 7.4 Education Office of the Secretary, Department of Education EMPLOYEE INVENTIONS § 7.4 Option to acquire... issued thereunder, that the Government shall reserve an option to require the assignment of such rights...
-
42 CFR 435.229 - Optional targeted low-income children.
2010-10-01
... 42 Public Health 4 2010-10-01 2010-10-01 false Optional targeted low-income children. 435.229... Coverage of Families and Children § 435.229 Optional targeted low-income children. The agency may provide Medicaid to— (a) All individuals under age 19 who are optional targeted low-income children as defined in...
-
Quantum finance Hamiltonian for coupon bond European and barrier options.
Baaquie, Belal E
2008-03-01
Coupon bond European and barrier options are financial derivatives that can be analyzed in the Hamiltonian formulation of quantum finance. Forward interest rates are modeled as a two-dimensional quantum field theory and its Hamiltonian and state space is defined. European and barrier options are realized as transition amplitudes of the time integrated Hamiltonian operator. The double barrier option for a financial instrument is "knocked out" (terminated with zero value) if the price of the underlying instrument exceeds or falls below preset limits; the barrier option is realized by imposing boundary conditions on the eigenfunctions of the forward interest rates' Hamiltonian. The price of the European coupon bond option and the zero coupon bond barrier option are calculated. It is shown that, is general, the constraint function for a coupon bond barrier option can -- to a good approximation -- be linearized. A calculation using an overcomplete set of eigenfunctions yields an approximate price for the coupon bond barrier option, which is given in the form of an integral of a factor that results from the barrier condition times another factor that arises from the payoff function.
-
26 CFR 1.318-3 - Estates, trusts, and options.
2010-04-01
... 26 Internal Revenue 4 2010-04-01 2010-04-01 false Estates, trusts, and options. 1.318-3 Section 1... (CONTINUED) INCOME TAXES Definitions; Constructive Ownership of Stock § 1.318-3 Estates, trusts, and options... illustrating the use of these factors and methods. (c) The application of section 318(a) relating to options...
-
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
-
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.
-
Investigation of Neptunium Precipitator Cleanout Options
International Nuclear Information System (INIS)
Hill, B.C.
2003-01-01
Oxalate precipitation followed by filtration is used to prepare plutonium oxalate. Historically, plutonium oxalate has tended to accumulate in the precipitation tanks. These solids are periodically removed by flushing with concentrated (64 percent) nitric acid. The same precipitation tanks will now be used in the processing of neptunium. Literature values indicate that neptunium oxalate may not be as soluble as plutonium oxalate in nitric acid. Although a wide variety of options is available to improve neptunium oxalate solubility for precipitator flushing, most of these options are not practical for use. Many of these options require the use of incompatible or difficult to handle chemicals. Other options would require expensive equipment modifications or are likely to lead to product contamination. Based on review of literature and experimental results, the two best options for flushing the precipitator are (1) 64 percent nitric acid and (2) addition of sodium permanganate follow ed by sodium nitrite. Nitric acid is the easiest option to implement. It is already used in the facility and will not lead to product contamination. Experimental results indicate that neptunium oxalate can be dissolved in concentrated nitric acid (64 percent) at 60 degree C to a concentration of 2.6 to 5.6 grams of Np/liter after at least three hours of heating. A lower concentration (1.1 grams of Np/liter) was measured at 60 degree C after less than two hours of heating. These concentrations are acceptable for flushing if precipitator holdup is low (approximately 100-250 grams), but a second method is required for effective flushing if precipitator holdup is high (approximately 2 kilograms). The most effective method for obtaining higher neptunium concentrations is the use of sodium permanganate followed by the addition of sodium nitrite. There is concern that residual manganese from these flushes could impact product purity. Gas generation during permanganate addition is also a concern
-
Electricity price and Southern California's water supply options
Energy Technology Data Exchange (ETDEWEB)
Dale, Larry [Lawrence Berkeley National Laboratory, Camilla Dunham Whitehead, Andre Fargeix, Golden Gate Economics, 1 Cycltron Road, Berkeley, CA 94720 (United States)
2004-11-01
This paper evaluates the impact of fluctuating electricity prices on the cost of five options to increase the water supply to urban areas in Southern California-new surface storage, water purchases, desalination, wastewater recycling, and conservation.We show that the price of electricity required to produce and transport water influences the cost of water supply options and may alter the decision makers economic ranking of these options. When electricity prices are low, water purchase is the cost effective option. When prices exceed US$ 86/MWh, conservation of electricity and water through installation of high efficiency clothes washers is the most effective option.
-
Treatment Option Overview (Wilms Tumor and Other Childhood Kidney Tumors)
... 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 Option Overview (Childhood Acute Myeloid Leukemia/Other Myeloid Malignancies)
... factors affect prognosis (chance of recovery) and treatment options. The prognosis (chance of recovery ) and treatment options ... the cancer does not respond to treatment. Treatment Option Overview Key Points There are different types of ...
-
Pricing and Hedging Quanto Options in Energy Markets
DEFF Research Database (Denmark)
Benth, Fred Espen; Lange, Nina; Myklebust, Tor Åge
2015-01-01
–Jarrow–Morton approach, we derive a closed-form option pricing formula for energy quanto options under the assumption that the underlying assets are lognormally distributed. Our approach encompasses several interesting cases, such as geometric Brownian motions and multifactor spot models. We also derive Delta and Gamma......In energy markets, the use of quanto options has increased significantly in recent years. The payoff from such options are typically written on an underlying energy index and a measure of temperature. They are suited to managing the joint price and volume risk in energy markets. Using a Heath...... expressions for hedging. Further, we illustrate the use of our model by an empirical pricing exercise using NewYork Mercantile Exchange-traded natural gas futures and Chicago Mercantile Exchange-traded heating degree days futures for NewYork....
-
Stock Option Compensation and Managerial Turnover
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...
-
Slowing global warming biotically - Options for the United States
International Nuclear Information System (INIS)
Anon.
1991-01-01
Each of the five biotic approaches introduced in Chapter 2 is applicable to some extent in the US. Taking US land-use characteristics into account, a menu of policy options tailored to US carbon storage opportunities is presented. Several of the options are capable of significantly reducing net US carbon emissions; several offer corollary benefits in areas other than global warming mitigation. The time frame and costs of the different options vary widely, although in most cases some level of implementation appears economically justified even without considering global warming. The approach, projected costs, and advantages of seven different policy options are profiled
-
TMI abnormal wastes disposal options
International Nuclear Information System (INIS)
Ayers, A.L. Jr.
1984-03-01
A substantial quantity of high beta-gamma/high-TRU contaminated wastes are expected from cleanup activities of Unit 2 of the Three Mile Island Nuclear Power Station. Those wastes are not disposable because of present regulatory constraints. Therefore, they must be stored temporarily. This paper discusses three options for storage of those wastes at the Idaho National Engineering Laboratory: (1) storage in temporary storage casks; (2) underground storage in vaults; and (3) storage in silos at a hot shop. Each option is analyzed and evaluated. Also included is a discussion of future disposal strategies, which might be pursued when a suitable federal or commercial repository is built
-
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
-
Treatment Options By Stage (Ovarian Germ Cell Tumors)
... Germ Cell Tumors Treatment (PDQ®)–Patient Version Treatment Option Overview Go to Health Professional Version Key Points ... and restore) the body’s blood cells. New treatment options Combination chemotherapy (the use of more than one ...
-
Bayesian Option Pricing Using Mixed Normal Heteroskedasticity Models
DEFF Research Database (Denmark)
Rombouts, Jeroen V.K.; Stentoft, Lars Peter
While stochastic volatility models improve on the option pricing error when compared to the Black-Scholes-Merton model, mispricings remain. This paper uses mixed normal heteroskedasticity models to price options. Our model allows for significant negative skewness and time varying higher order...... moments of the risk neutral distribution. Parameter inference using Gibbs sampling is explained and we detail how to compute risk neutral predictive densities taking into account parameter uncertainty. When forecasting out-of-sample options on the S&P 500 index, substantial improvements are found compared...
-
Cognitive and Affective Aspects of Creative Option Generation in Everyday Life Situations.
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
-
The pricing of European options on two underlying assets with delays
Lin, Lisha; Li, Yaqiong; Wu, Jing
2018-04-01
In the paper, the pricing of European options on two underlying assets with delays is discussed. By using the approach of equivalent martingale measure transformation, the market is proved to be complete. With exchange option as a particular example, we obtain the explicit pricing formula in a subinterval of option period. The robust Euler-Maruyama method is combined with the Monte Carlo simulation to compute exchange option prices within the whole option period. Numerical experiments indicate that there is an increasing possibility of the difference between the delayed and Black-Scholes option prices with the increase of delay.
-
Directory of Open Access Journals (Sweden)
Melanie Gopaul
2015-10-01
Full Text Available Changes in consumer lifestyle patterns have had a great impact on the fast-food industry worldwide and the demand for heathier food has forced such a growing industry to offer more alternatives to cater for these consumers. Many fast-food outlets have introduced healthier food options to their menus. However, there seems to be a common perception among consumers that healthier food options are more expensive. The primary research aim that pended from the literature was therefore to determine South African consumers’ level of satisfaction with the price and value of the healthier food options available at fast-food outlets. The results may assist fast-food outlets in adjusting their pricing strategy and offering consumers better value for money. A mixed method approach was used to collect data whereby self-administered questionnaires comprising of closed-ended, open-ended and scaled response questions were distributed to respondents. The findings indicated a low level of satisfaction among South African consumers’ with the price and value of healthier options offered at fast-food outlet
-
Supply Chain Bilateral Coordination with Option Contracts under Inflation Scenarios
Directory of Open Access Journals (Sweden)
Nana Wan
2015-01-01
Full Text Available There exist obvious changes in price and demand during the inflationary period, both of which are regarded as the key factors leading to supply chain uncertainty. In this paper, we focus our discussion on price increase and demand contraction caused by inflation, integrate the effect of inflation and option contracts within the model framework, and analyze how to use option contracts to achieve supply chain coordination under inflation scenarios. We consider a one-period two-stage supply chain consisting of one supplier and one retailer and explore the effect of inflation on the optimal ordering and production decisions under three different types of contracts: wholesale price contracts, option contracts, and portfolio contracts. Moreover, we explore the impact of option contracts on the supply chain through using wholesale price contracts model as the benchmark. We find that the retailer prefers adopting portfolio contracts, but the supplier prefers providing option contracts under inflation scenarios. Ultimately, option contracts will be implemented owing to the supplier’s market dominant position. In addition, we discuss the supply chain bilateral coordination mechanism with option contracts from the perspectives of two members and derive that option contracts can coordinate the supply chain and achieve Pareto improvement under inflation scenarios.
-
The enhancement of the deteriorated South African bond options market
Directory of Open Access Journals (Sweden)
Coert Frederik Erasmus
2015-06-01
Full Text Available nvestments, especially those in the bond market, carry a level of risk. Risks in the bond market can be mitigated by transacting in option contracts. In the developing South African economy, trading activity of over-the-counter (OTC bond options decreased significantly. Possible deteriorating factors and interventions to enhance OTC bond options were investigated in this research. Experts in the OTC bond option market were surveyed and the quantitative data collected was analysed with descriptive statistical methods. Results indicated that three factors were positively identified as deteriorating factors in the OTC bond option market and that five different interventions were possible to possible enhance this market.
-
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)
-
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
-
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.
-
Yeung, Kai; Suh, Kangho; Basu, Anirban; Garrison, Louis P; Bansal, Aasthaa; Carlson, Josh J
2017-10-01
High-priced medications with curative potential, such as the newer hepatitis C therapies, have contributed to the recent growth in pharmaceutical expenditure. Despite the obvious benefits, health care decision makers are just beginning to grapple with questions of how to value and pay for curative therapies that may feature large upfront cost, followed by health benefits that are reaped over a patient's lifespan. Alternative policy options have been proposed to promote high value and financially sustainable use of these therapies. It is unclear which policy options would be most acceptable to health care payer and biomedical manufacturer stakeholders. To (a) briefly review pharmaceutical policy options to address health system affordability and (b) assess the acceptability of alternative policy options to health care payers and biomedical manufacturers before and after an Academy of Managed Care Pharmacy (AMCP) continuing pharmacy education (CPE) session. We searched MEDLINE and Cochran databases for pharmaceutical policy options addressing affordability. With input from a focus group of managed care professionals, we developed CPE session content and an 8-question survey focusing on the most promising policy options. We fielded the survey before and after the CPE session, which occurred as part of the 2016 AMCP Annual Meeting. We first conducted a chi-squared goodness-of-fit test to assess response distributions. Next, we tested how responses differed before and after by using an ordered logit and a multinomial logit to model Likert scale and unordered responses, respectively. Although risk-sharing payments over time remained the most favorable choice before (37%) and after (35%) the CPE session, this choice was closely followed by HealthCoin after the session, which increased in favorability from 4% to 33% of responses (P = 0.001). About half of the respondents (54%) indicated that legislative change is the most significant barrier to the implementation of any
-
Option Valuation with Observable Volatility and Jump Dynamics
DEFF Research Database (Denmark)
Christoffersen, Peter; Feunou, Bruno; Jeon, Yoontae
Under very general conditions, the total quadratic variation of a jump-diffusion process can be decomposed into diffusive volatility and squared jump variation. We use this result to develop a new option valuation model in which the underlying asset price exhibits volatility and jump intensity...... dynamics. The volatility and jump intensity dynamics in the model are directly driven by model-free empirical measures of diffusive volatility and jump variation. Because the empirical measures are observed in discrete intervals, our option valuation model is cast in discrete time, allowing...... for straightforward filtering and estimation of the model. Our model belongs to the affine class enabling us to derive the conditional characteristic function so that option values can be computed rapidly without simulation. When estimated on S&P500 index options and returns the new model performs well compared...
-
Bayesian Option Pricing using Mixed Normal Heteroskedasticity Models
DEFF Research Database (Denmark)
Rombouts, Jeroen; Stentoft, Lars
2014-01-01
Option pricing using mixed normal heteroscedasticity models is considered. It is explained how to perform inference and price options in a Bayesian framework. The approach allows to easily compute risk neutral predictive price densities which take into account parameter uncertainty....... In an application to the S&P 500 index, classical and Bayesian inference is performed on the mixture model using the available return data. Comparing the ML estimates and posterior moments small differences are found. When pricing a rich sample of options on the index, both methods yield similar pricing errors...... measured in dollar and implied standard deviation losses, and it turns out that the impact of parameter uncertainty is minor. Therefore, when it comes to option pricing where large amounts of data are available, the choice of the inference method is unimportant. The results are robust to different...
-
Review of options for managing iodine-125 wastes
International Nuclear Information System (INIS)
Lock, P.J.; Wakerley, M.W.
1991-01-01
Data on the nature, radioactive content and management options used for I-125 wastes that are produced in England and Wales and fall within the provisions of the Radioactive Substances Act 1960 have been collated. The options for, and impacts of the disposal of these wastes have been reviewed and discussed. In addition storage for decay has been reviewed. The necessary storage requirements and methods of storage for the various waste forms have been examined. Conclusions are drawn with respect to the potential/suitability of the various waste management options. (author)
-
Error Analysis for Fourier Methods for Option Pricing
Hä ppö lä , Juho
2016-01-01
We provide a bound for the error committed when using a Fourier method to price European options when the underlying follows an exponential Levy dynamic. The price of the option is described by a partial integro-differential equation (PIDE
-
Multivariate Option Pricing with Time Varying Volatility and Correlations
DEFF Research Database (Denmark)
Rombouts, Jeroen V.K.; Stentoft, Lars Peter
In recent years multivariate models for asset returns have received much attention, in particular this is the case for models with time varying volatility. In this paper we consider models of this class and examine their potential when it comes to option pricing. Specifically, we derive the risk...... neutral dynamics for a general class of multivariate heteroskedastic models, and we provide a feasible way to price options in this framework. Our framework can be used irrespective of the assumed underlying distribution and dynamics, and it nests several important special cases. We provide an application...... to options on the minimum of two indices. Our results show that not only is correlation important for these options but so is allowing this correlation to be dynamic. Moreover, we show that for the general model exposure to correlation risk carries an important premium, and when this is neglected option...
-
Option Price Estimations and Speculative Trading In Knowledge Society
Directory of Open Access Journals (Sweden)
Ovidiu TURCOANE
2012-01-01
Full Text Available Derivatives market has known an enormous and continuous development from the late 1970s, thanks to the most celebrated Black-Scholes-Merton formula. The impact on global economy is also tremendous, but due to the high leverage of speculative option trading there is a perpetual danger of economic collapse. This paper gives a short description of knowledge society and proposes methods for option price estimation based on implied volatility, skewness and kurtosis. ‘Free-lunch’ is hardly achievable if one predicts the option price using the knowledgeable information from the market and there is almost impossible to speculate, rather than to hedge, when trading option.
-
47 CFR 1.2103 - Competitive bidding design options.
2010-10-01
... 47 Telecommunication 1 2010-10-01 2010-10-01 false Competitive bidding design options. 1.2103 Section 1.2103 Telecommunication FEDERAL COMMUNICATIONS COMMISSION GENERAL PRACTICE AND PROCEDURE Competitive Bidding Proceedings General Procedures § 1.2103 Competitive bidding design options. (a) The...
-
24 CFR 982.630 - Homeownership option: Homeownership counseling.
2010-04-01
... counseling. 982.630 Section 982.630 Housing and Urban Development Regulations Relating to Housing and Urban... Types Homeownership Option § 982.630 Homeownership option: Homeownership counseling. (a) Before... pre-assistance homeownership and housing counseling program required by the PHA (pre-assistance...
-
5 CFR 410.203 - Options for developing employees.
2010-01-01
...-development activities, coaching, mentoring, career development counseling, details, rotational assignments... Planning and Evaluating Training § 410.203 Options for developing employees. Agencies may use a full range of options to meet their mission-related organizational and employee development needs, such as...
-
New Commitment Options: Compatibility with Emissions Trading
Energy Technology Data Exchange (ETDEWEB)
NONE
2006-07-01
This paper considers different options for quantitative greenhouse gas emission commitments from the standpoint of their technical compatibility with emissions trading. These are dynamic targets, binding targets with price caps, non-binding targets, sector-wide targets/mechanisms, action targets, allowances and endowments, and long-term permits. This paper considers these options from the standpoint of their compatibility with emissions trading.
-
Disposition of plutonium from dismantled nuclear weapons: Fission options and comparisons
International Nuclear Information System (INIS)
Omberg, R.P.; Walter, C.E.
1993-01-01
Over the next decade, the United States expects to recover about 50 Mg of excess weapon plutonium and the Republic of Russia expects to recover a similar amount. Ensuring that these large quantities of high-grade material are not reused in nuclear weapons has drawn considerable attention. In response to this problem, the US Department of Energy (DOE) chartered the Plutonium Disposition Task Force (PDTF), in the summer of 1992, to assess a range of practical means for disposition of excess US plutonium. This report summarizes and compares the ''Fission Options'' provided to the Fission Working Group Review Committee (the committee) of the PDTF. The review by the committee was based on preliminary information received as of December 4, 1992, and as such the results summarized in this report should also be considered preliminary. The committee concluded that irradiation of excess weapon plutonium in fission reactors in conjunction with the generation of electricity and storing the spent fuel is a fast, cost-effective, and environmentally acceptable method of addressing the safeguards (diversion) issue. When applied appropriately, this method is consistent with current nonproliferation policy. The principal effect of implementing the fission options is at most a moderate addition of plutonium to that existing in commercial spent fuel. The amount of plutonium in commercial spent fuel by the year 2000 is estimated to be 300 Mg. The addition of 50 Mg of excess weapon plutonium, in this context, is not a determining factor, moreover, several of the fission options achieve substantial annihilation of plutonium
-
The Fundamental Uncertainty of Business: Real Options
Dyer, James S.
The purpose of this paper is to discuss the manner in which uncertainty is currently evaluated in business, with an emphasis on economic measures. In recent years, the accepted approach for the valuation of capital investment decisions has become one based on the theory of real options. From the standpoint of this workshop, the interesting aspect of real options is its focus on the flexibility of management to respond to changes in the environment as a feature of an alternative that has unique value, known as "option value." While this may not be surprising to most participants in this workshop, it does represent a radical change in traditional thinking about risk in business, where efforts have primarily been focused on the elimination of risk when possible.
-
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
-
International Nuclear Information System (INIS)
1980-03-01
This Retrieval Options Study is part of the systems analysis activities of the Office of Nuclear Waste Isolation to develop the scientific and technological bases for radioactive waste repositories in various geologic media. The study considers two waste forms, high level waste and spent fuel, and defines various classes of waste retrieval and recovery. A methodology and data base are developed which allow the relative evaluation of retrieval and recovery costs and the following technical criteria: safety; technical feasibility; ease of retrieval; probable intact retrieval time; safeguards; monitoring; criticality; and licensability. A total of 505 repository options are defined and the cost and technical criteria evaluated utilizing a combination of facts and engineering judgments. The repositories evaluated are selected combinations of the following parameters: Geologic Media (salt, granite, basalt, shale); Retrieval Time after Emplacement (5 and 25 years); Emplacement Design (nominal hole, large hole, carbon steel canister, corrosion resistant canister, backfill in hole, nominal sleeves, thick wall sleeves); Emplacement Configuration (single vertical, multiple vertical, single horizontal, multiple horizontal, vaults; Thermal Considerations; (normal design, reduced density, once-through ventilation, recirculated ventilation); Room Backfill; (none, run-of-mine, early, 5 year delay, 25 year delay, decommissioned); and Rate of Retrieval;
-
GARCH Option Valuation: Theory and Evidence
DEFF Research Database (Denmark)
Christoffersen, Peter; Jacobs, Kris; Ornthanalai, Chayawat
We survey the theory and empirical evidence on GARCH option valuation models. Our treatment includes the range of functional forms available for the volatility dynamic, multifactor models, nonnormal shock distributions as well as style of pricing kernels typically used. Various strategies...... for empirical implementation are laid out and we also discuss the links between GARCH and stochastic volatility models. In the appendix we provide Matlab computer code for option pricing via Monte Carlo simulation for nonaffine models as well as Fourier inversion for affine models....
-
The implication of missing the optimal-exercise time of an American option
Chockalingam, A.; Feng, H.
2015-01-01
The optimal-exercise policy of an American option dictates when the option should be exercised. In this paper, we consider the implications of missing the optimal exercise time of an American option. For the put option, this means holding the option until it is deeper in-the-money when the optimal
-
2010-03-04
.... Generally, under the current plan, the SRO participant responsible for conducting options-related sales... Declaring Effective an Amendment to the Plan for the Allocation of Regulatory Responsibilities Among the... BX, Inc., and NASDAQ OMX PHLX, Inc. Concerning Options-Related Sales Practice Matters February 25...
-
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.
-
77 FR 19278 - Informational Meeting on Nuclear Fuel Cycle Options
2012-03-30
... DEPARTMENT OF ENERGY Informational Meeting on Nuclear Fuel Cycle Options AGENCY: Office of Fuel... activities leading to a comprehensive evaluation and screening of nuclear fuel cycle options in 2013. At this... fuel cycle options developed for the evaluation and screening provides a comprehensive representation...
-
Risky business: rhesus monkeys exhibit persistent preferences for risky options.
Xu, Eric R; Kralik, Jerald D
2014-01-01
Rhesus monkeys have been shown to prefer risky over safe options in experiential decision-making tasks. These findings might be due, however, to specific contextual factors, such as small amounts of fluid reward and minimal costs for risk-taking. To better understand the factors affecting decision-making under risk in rhesus monkeys, we tested multiple factors designed to increase the stakes including larger reward amounts, distinct food items rather than fluid reward, a smaller number of trials per session, and risky options with greater variation that also included non-rewarded outcomes. We found a consistent preference for risky options, except when the expected value of the safe option was greater than the risky option. Thus, with equivalent mean utilities between the safe and risky options, rhesus monkeys appear to have a robust preference for the risky options in a broad range of circumstances, akin to the preferences found in human children and some adults in similar tasks. One account for this result is that monkeys make their choices based on the salience of the largest payoff, without integrating likelihood and value across trials. A related idea is that they fail to override an impulsive tendency to select the option with the potential to obtain the highest possible outcome. Our results rule out strict versions of both accounts and contribute to an understanding of the diversity of risky decision-making among primates.
-
Option valuation with the simplified component GARCH model
DEFF Research Database (Denmark)
Dziubinski, Matt P.
We introduce the Simplified Component GARCH (SC-GARCH) option pricing model, show and discuss sufficient conditions for non-negativity of the conditional variance, apply it to low-frequency and high-frequency financial data, and consider the option valuation, comparing the model performance...
-
INVESTMENT IN ANTIVIRAL DRUGS : A REAL OPTIONS APPROACH
Attema, Arthur E.; Lugner, Anna K.; Feenstra, Talitha L.
2010-01-01
Real options analysis is a promising approach to model investment under uncertainty. We employ this approach to value stockpiling of antiviral drugs as a precautionary measure against a possible influenza pandemic. Modifications of the real options approach to include risk attitude and deviations
-
Pricing the Option to Surrender in Incomplete Markets
DEFF Research Database (Denmark)
Consiglio, Andrea; De Giovanni, Domenico
New international accounting standards require insurers to reflect the value of embedded options and guarantees in their products. Pricing techniques based on the Black & Scholes paradigm are often used, however, the hypotheses underneath this model are rarely met. We propose a framework that enc......New international accounting standards require insurers to reflect the value of embedded options and guarantees in their products. Pricing techniques based on the Black & Scholes paradigm are often used, however, the hypotheses underneath this model are rarely met. We propose a framework...... that encompasses the most known sources of incompleteness. We show that the surrender option, joined with a wide range of claims embedded in insurance contracts, can be priced through our tool, and deliver hedging portfolios to mitigate the risk arising from their positions. We provide extensive empirical analysis...... to highlight the effect of incompleteness on the fair value of the option....
-
On-Site or Off-Site Renewable Energy Supply Options?
DEFF Research Database (Denmark)
Marszal, Anna Joanna; Heiselberg, Per; Jensen, Rasmus Lund
2012-01-01
The concept of a Net Zero Energy Building (Net ZEB) encompasses two options of supplying renewable energy, which can offset energy use of a building, in particular on-site or off-site renewable energy supply. Currently, the on-site options are much more popular than the off-site; however, taking...... into consideration the limited area of roof and/or façade, primarily in the dense city areas, the Danish weather conditions, the growing interest and number of wind turbine co-ops, the off-site renewable energy supply options could become a meaningful solution for reaching ‘zero’ energy goal in the Danish context...... five technologies, i.e., two on-site options: (1) photovoltaic, (2) micro combined heat and power, and three off-site options: (1) off-site windmill, (2) share of a windmill farm and (3) purchase of green energy from the 100% renewable utility grid. The results indicate that in case of the on...
-
Nail Psoriasis: A Review of Treatment Options.
Pasch, Marcel C
2016-04-01
Nail involvement affects 80-90 % of patients with plaque psoriasis, and is even more prevalent in patients with psoriatic arthritis. This review is the result of a systemic approach to the literature and covers topical, intralesional, conventional systemic, and biologic systemic treatments, as well as non-pharmacological treatment options for nail psoriasis. The available evidence suggests that all anti-tumor necrosis factor-α, anti-interleukin (IL)-17, and anti-IL-12/23 antibodies which are available for plaque psoriasis and psoriatic arthritis are highly effective treatments for nail psoriasis. Conventional systemic treatments, including methotrexate, cyclosporine, acitretin, and apremilast, as well as intralesional corticosteroids, can also be effective treatments for nail psoriasis. Topical treatments, including corticosteroids, calcipotriol, tacrolimus, and tazarotene, have also been shown to have a position in the treatment of nail psoriasis, particularly in mild cases. Finally, non-pharmacological treatment options, including phototherapy, photodynamic therapy, laser therapy, and several radiotherapeutic options, are also reviewed but cannot be advised as first-line treatment options. Another conclusion of this review is that the lack of a reliable core set of outcomes measures for trials in nail psoriasis hinders the interpretation of results, and is urgently needed.
-
Optional inferior vena caval filters: where are we now?
LENUS (Irish Health Repository)
Keeling, A N
2008-08-01
With the advent of newer optional\\/retrievable inferior vena caval filters, there has been a rise in the number of filters inserted globally. This review article examines the currently available approved optional filter models, outlines the clinical indications for filter insertion and examines the expanding indications. Additionally, the available evidence behind the use of optional filters is reviewed, the issue of anticoagulation is discussed and possible future filter developments are considered.
-
Soares, Johnny R.; Cassman, N.; Kielak, A.M.; Pijl, A.S.; do Carmo, J.B.; Lourenço, Késia S.; Laanbroek, H.J.; Cantarella, H.; Kuramae, E.E.
2016-01-01
Nitrous oxide (N2O) from nitrogen fertilizers applied to sugarcane has high environmental impact on ethanol production. This study aimed to determine the main microbial processes responsible for the N2O emissions from soil fertilized with different N sources, to identify options to mitigate N2O
-
Heterogeneity and option pricing
Benninga, Simon; Mayshar, Joram
2000-01-01
An economy with agents having constant yet heterogeneous degrees of relative risk aversion prices assets as though there were a single decreasing relative risk aversion pricing representative agent. The pricing kernel has fat tails and option prices do not conform to the Black-Scholes formula.
-
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
-
On the Pricing of Options in Incomplete Markets
Melenberg, B.; Werker, B.J.M.
1996-01-01
In this paper we reconsider the pricing of options in incomplete continuous time markets.We first discuss option pricing with idiosyncratic stochastic volatility.This leads, of course, to an averaged Black-Scholes price formula.Our proof of this result uses a new formalization of idiosyncraticy
-
76 FR 6095 - Commodity Options and Agricultural Swaps
2011-02-03
... options authorized under Sec. 32.4 (e.g. options on coffee, sugar, cocoa, and other agricultural products...) imposing clearing and trade execution requirements on standardized derivative products; (3) creating robust..., soybean meal, livestock, livestock products, and frozen concentrated orange juice (but not onions). \\22...
-
26 CFR 1.1092(c)-3 - Qualifying over-the-counter options.
2010-04-01
... 26 Internal Revenue 11 2010-04-01 2010-04-01 true Qualifying over-the-counter options. 1.1092(c)-3...-counter options. (a) In general. Under section 1092(c)(4)(B)(i), an equity option is not a qualified covered call option unless it is traded on a national securities exchange that is registered with the...
-
Improving the attractiveness of CDM projects through allowing and incorporating options
International Nuclear Information System (INIS)
Carmichael, David G.; Ballouz, Joseph J.; Balatbat, Maria C.A.
2015-01-01
The paper puts forward a proposal that, within Clean Development Mechanism (CDM) projects, investors be allowed to benefit from options; this will require a CDM rule change. Through the presence of options, the downside risk resulting from low carbon prices and/or low achieved emission reductions on projects can be limited, while any upside resulting from high carbon prices and/or high achieved emission reductions can be taken advantage of. It is demonstrated that the presence of options improves the financial attractiveness of CDM projects, and this is at no detriment to any stakeholder. The flow-on from the proposal is that more CDM projects should be realisable if options are available, and this in turn will lead to reduced global emissions and improved sustainability. The proposal is supported by the necessary theory and is demonstrated on two registered CDM projects, one on hydropower and one on wind power. - Highlights: • The paper proposes that options be allowed within CDM projects. • Introducing options will require a CDM rule change. • Options improve the financial attractiveness of CDM projects. • Allowing options comes at no cost or detriment to any party. • Allowing options is a win–win situation to both society and the project proponent.
-
Dixon, Helen; Scully, Maree; Wakefield, Melanie; Kelly, Bridget; Pettigrew, Simone
2018-04-01
To explore children's responses to sponsorship of community junior sport by unhealthy food brands and investigate the utility of alternative, pro-health sponsorship options. Between-subjects experiment, with four sponsorship conditions: A, non-food branding (control); B, unhealthy food branding; C, healthier food branding; D, obesity prevention campaign branding. Online experiment conducted in schools. Participants were shown a junior sports pack for their favourite sport that contained merchandise with branding representing their assigned sponsorship condition. Participants viewed and rated the sports pack, completed a distractor task, then completed questions assessing brand awareness, brand attitudes and preference for food sponsors' products. Students in grades 1 to 3 (aged 5-10 years; n 1124) from schools in metropolitan Melbourne, Australia. Compared with the control condition, there were no significant effects of unhealthy food branding on awareness of, attitudes towards or preference for these brands. Exposure to healthier food branding prompted a significant increase in the proportion of children aware of these brands, but did not impact attitudes towards or preference for these brands. Exposure to either healthier food branding or obesity prevention campaign branding prompted a significant reduction in the proportion of children showing a preference for unhealthy food sponsor products. The sponsorship of children's sport by healthier food brands may promote awareness of these brands and healthier sponsorship branding may reduce preferences for some unhealthy food products. Establishing and implementing healthy sponsor criteria in sports clubs could forge healthier sponsorship arrangements and help phase out unhealthy food and beverage sponsors.
-
Asset allocation using option-implied moments
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.
-
Investing in Marine Scrubber under Uncertainty with Real Option Thinking
DEFF Research Database (Denmark)
Jiang, Liping; Hansen, Carsten Ørts
works that examine the economic feasibility of scrubber retrofitting through the net present value rule, this paper applies the Real Option Analysis to find the optimal investment strategies. The proposed decision-making framework addresses the uncertainty and the value of deferral option embedded...... in the scrubber investment. The multiple sources of investment uncertainties are explicitly analyzed and integrated in the modeling by using Rainbow option. The results demonstrate that the value of the scrubber investment has significantly increased for several cases by considering the deferral option....... It is thus important for ship owners to consider the available options before proceeding with abandoning or investing strategy. The proposed framework can be widely applied to other ship retrofitting investment evaluations, which include similar investment alternatives and uncertainties....
-
Stakeholder appraisal of policy options for responding to obesity in Hungary.
Horváth, Z; Pankotai, M G; Szabolcs, I
2007-05-01
Overweight and obesity increases risks for many diseases, while treating them is expensive. Trends in the prevalence of overweight and obesity over the last two decades indicate the need for urgent interventions. Several different kinds of interventions could modify the obesogenic environment. The aim of this study was to map which policy options will be acceptable and effective in Hungary. Interviews were conducted with 21 stakeholders representing a wide range of viewpoints to evaluate seven core and 13 discretionary policy options under different criteria. The 21 Hungarian participants used 92 appraisal criteria covering a wide range of issues. Efficacy, practical feasibility, social acceptability and societal benefits were widely judged more important than the costs of measures. Significant additional social and health benefits were anticipated from changes in transport and planning policies, but the cost to the public sector was considered high and the implementation difficult. There was broad support for changes in patterns of food consumption and levels of physical activity. There was a consensus that without developing the attitudes of individuals to be more responsible for their health, environmental changes alone would not be enough to reverse the trend of the growing prevalence of obesity.
-
Climate change and the biosphere option: moving to a sustainable future
International Nuclear Information System (INIS)
Layzell, D.B.; Mitchell, H.M.
1999-01-01
Human activities resulting in greenhouse gas (GHG) emissions have been implicated as the primary factor forcing climate change. This evidence led to a landmark international agreement in Kyoto, (1997) committing the developed countries of the world to reductions in GHG emissions. In Canada, fossil fuel use over the past few centuries has released about 5200 Mt C into the atmosphere. An equivalent amount has probably been added as a result of deforestation and agricultural practice in this country. If we can manage our biosphere better and return even a fraction of the lost biosphere C, we can make a significant contribution to reducing Canada's current annual GHG emission. In the process, plants ( including trees) will trap the sun's energy and build an energy-rich biomass that we can learn to utilize as an energy, chemical and material resource for the future. In doing so, we will relieve the escalating demand for fossil fuels. The BIOCAP Network will be a multidisciplinary group of university, government and industry researchers dedicated to exploring the scientific, technological and policy implications of this 'biosphere option'. Canada's 'biosphere option' for GHG management is both a national opportunity and a global responsibility