An elementary arbitrage principle and the existence of trends in financial time series, which is based on a theorem published in 1995 by P. Cartier and Y. Perrin, lead to a new understanding of option pricing and dynamic hedging. Intricate problems related to violent behaviors of the underlying,...

This paper describes the development of a model architecture based on systems dynamics and econometrics. The purpose of the system of models is to simulate the medium­ and long­term effects of urban transport policies with reference to sustainable travel. Three models are presented...