Isotropic Brownian flows (IBFs) are a fairly natural class of stochastic flows which has been studied extensively by various authors. Their rich structure allows for explicit calculations in several situations and makes them a natural object to start with if one wants to study more general...

We study transport properties of isotropic Brownian flows. Under a transience condition for the two-point motion, we show asymptotic normality of the image of a finite measure under the flow and-under slightly stronger assumptions-asymptotic normality of the distribution of the volume of the...

The paper carries out the problem of economic aspects of technology change as an alternativeless priority in the strat¬egy of getting out of the crisis. The provided analysis shows that Bulgarian economy has lost its technological ca¬pability by leaps and bounds. Financial sources as stimulus...

We propose a parsimonious multi-asset Heston model and provide an easy-to-implement calibration algorithm. The model is customized to pricing multi-asset options in markets with liquidly traded single-asset options but no liquidly traded cross-asset options. In this situation, single-asset model...

When managing risk, frequently only imperfect hedging instruments are at hand. We show how to optimally <italic>cross-hedge</italic> risk when the spread between the hedging instrument and the risk is <italic>stationary</italic>. For linear risk positions we derive explicit formulas for the hedge error, and for nonlinear...