A model is developed for evaluating the conditional probability of hitting an upper barrier before a lower barrier, and vice versa, for a tied down geometric Brownian motion with drift. The method produces an analytical value for this probability, assuming that the barrier levels are constant and continuously monitored.

Abstract

Entrepreneurs are the moving force of economic growth. Through entrepreneurship comes employment opportunities. From the Filipino youth to Filipino women and up to Filipino professional, there is always that profound intention to engage themselves in entrepreneurship not just to generate revenue but also to help in the upliftment of…[Read more]

When we study civil wars and conflicts we tend to conceptualise them as occurring in stages: starting from domestic political disagreements, to demon-strations and protests escalating into violence and war. How armed conflicts end is often seen as the reverse process, moving from high intensity armed interaction, to a drawing down, war weariness,…[Read more]

This study presents innovative strategies for EFL educators aimed at cultivating resilience and growth mindsets in learners. Utilizing a mixed-methods approach, we engaged 200 learners aged 11-20 from varied linguistic backgrounds. The methodology comprised surveys and interviews, enabling customized interventions that significantly improved…[Read more]

Throughout the interwar period, America’s interest in Romania grew and encompassed not only political, diplomatic, and historical aspects but also financial, cultural, and educational contributions. Thus, the Romanian- American ties throughout the interwar period suggest innate complexity and dynamism. This volume presents novel techniques and i…[Read more]

ویتمن ایرانی: فراتر از پذیرش ادبی ــ که به پذیرش والت ویتمن، شاعر نامدار آمریکایی، در یک دورۀ تقریباً صد ساله در ایران معاصر می‌پردازد ــ دارای نُه فصل، مقدمه، مؤخره و ضمیمه است. کتابِ حاضر تحقیقی بینارشته‌ای است: از سویی ادبیات تطبیقی (پذیرش ادبی، تأثیرپژوهی و تصویرشناسی) و نقد ادبی (تاریخ‌گرایی نو)، و از سوی دیگر مطالعات ترجمه (ترجمه و ای…[Read more]

This biography of the German medical doctor and minerologist Diederich Wessel Linden (fl.1745-1768; d.1769) is the unabridged, pre-publication version of an accepted and revised article for publication in the Dictionary of Welsh Biography. This version is also available as an online blog post:…[Read more]

South African universities’ use of digital technologies in learning has increased in recent years. Given that
social exposure, the context and pedagogic uses of technology influence learning expectations and
learner involvement, it is important to understand students’ experiences of the use of different
technological tools. This article emp…[Read more]

Globally, student support mechanisms focus almost exclusively on academically ‘under-performing’
students, especially as insofar as academic development practices are concerned. This article makes a
case for a shift in approach. Using the context of one country, South Africa, we sought to better
understand the strengths that academically…[Read more]

This article presents a model for pricing complex CDO structures and compute the sensitivities of the risk factors. The complex CDO structures need to be priced using the market information on tranche losses at multiple points of time. Currently, the model is being used for the valuation of forward starting CDO trades (FSCDO) and loss-trigger…[Read more]

The structure of a Binary Return Note is similar to the one of a regular note, but the coupons are
contingent on return rates on stocks. Quasi-Monte Carlo simulation is used for pricing the product.

Akira Kurosawa’s 1963 police procedural is, as its title suggests, intensely interested in the socioeconomic valences of spatial relationships, literalized in Yokohama’s affluent hills and its low-lying slums. The central conflict between inhabitants of these two spaces articulates this local topography into a global framework, in which con…[Read more]

We present a pricing model for fade option. A fade option can be more precisely named as “point-barrier option”. The fade option is a vanilla option that exists or dies if a barrier is breached on a single preset date, which is prior or equal to the contract maturity.

This article explores the consequences of the environmental transformations of the Laurentian Valley on the timber trade uniting the Province of Canada and the industrialization of Great Britain during the nineteenth century. The notion of ghost acres used to describe the ecological footprint of resource consumption from abroad is extended to…[Read more]

This essay shares the author’s ideas, alluding to depth psychology, philosophy, and comparative culture, particularly East-West differences in the basic worldviews people can have, such as I-Thou, Us vs. Them or We-They, I-Nature or I-Universe, with Asian people tending to live more collectively in a social reality. The essay includes Zen insights…[Read more]

This journalistic essay can give Western readers insight into non-Western logic that the author has found in a long career in Japan. It is also informed by research on intercultural communication, bilingualism and biculturalism. The author teaches those subjects and has a Japanese family. This 2023 update includes the author’s photo taken in Osaka…[Read more]

Average rate or Asian options have a payoff function proportional to an average rate or price. The average price is calculated over a sampling of specified dates that need not be equally spaced in time. The average price or rate tends to be less volatile than a single underlying price and hence, an option on the underlying average price should be…[Read more]

The article discusses valuation models for the following products: power financial indices swap contracts (PWR-SWAP), power financial transmission rights contracts (PWRSWAP- FTR), power physical delivery contracts (PWR-PHYS) and power physical transmission contracts (PWR-TR-SPREAD). All products have similar valuation structure – index swap (or s…[Read more]

We offer a hybrid (trinomial tree plus semi-analytic formulas) pricing method for FX Double Window Double Barrier option . Currently, the model uses spot implied volatility for the first time window, and forward implied volatility for the second time window. These are Black-Scholes implied volatilities from traded vanilla European options, but,…[Read more]

The purpose of the model is to calculate the credit spread sensitivity, correlation sensitivity, and default sensitivity via analytic methods for index CDO trades and bespoke CDO trades. The credit spread sensitivity is defined as the change in the MTM by perturbing the credit spread by a small amount; the default sensitivity is calculated by…[Read more]