Actuaries value insurance claim accumulations using a compound Poisson process to capture the random, discrete, and clustered nature of claim arrival, but the standard Black (1976) formula for pricing futures options assumes that the underlying futures price follows a pure diffusion. Extant...

In Taiwan, underwriting fees for initial public offerings (IPOs) are extremely low compared to fees in other countries. From 1989 to 1999, the average underwriting fee for IPOs in Taiwan is 0.99%-far below the regulatory limit. Although the Taiwanese underwriting industry is highly concentrated,...

The present study is concerned with dynamic simulation of thermal-lag Stirling engines. A dynamic model is built and incorporated with a thermodynamic model to study the engine start process. A prototype engine is designed and simulated by using the dynamic model. In the simulation, different...