In recent years, greater attention has been given to advancing the theory and practice of assessing risk from multiple hazards. Most approaches calculate multi-hazard risk by aggregating risk scores for individual hazards and ignore the combined exceedance probability of multiple hazards. We...

The Yangtze River Delta region is an area highly vulnerable to flooding. As the population density is rising concomitantly with high economic growth, this region is becoming more vulnerable to natural hazards. We conducted a survey to investigate the individual risk perception of both the local...

The present paper is devoted to the numerical solution of the Fokker–Planck (FP) equation associated to the Duffing oscillator driven by colored noise. We propose an improved discretization of the standard FP operator-splitting method which renders the scheme unconditionally stable. This...

The stochastic resonance (SR) is studied in an overdamped linear system driven by multiplicative and additive noise when the additive noise is a linear combination of an asymmetric dichotomous noise and its square. The exact expressions are obtained for the first two moments and the correlation...

Systemic weather risk is a major obstacle for the formation of private (nonsubsidized) crop insurance. This paper explores the possibility of spatial diversification of insurance by estimating the joint occurrence of unfavorable weather conditions in different locations. For that purpose copula...

Consider a class of variational inequality problems of finding <InlineEquation ID="IEq2"> <EquationSource Format="TEX">$${x^*\in S}$$</EquationSource> </InlineEquation>, such that <Equation ID="Equa"> <EquationSource Format="TEX">$$f(x^*)^\top (z-x^*)\geq 0,\quad \forall z\in S,$$</EquationSource> </Equation> where the underlying mapping f is hard to evaluate (sometimes its explicit form is unknown), and S has the following structure <Equation ID="Equb"> <EquationSource Format="TEX">$$S=\{x\in R^n\; | \;...</equationsource></equation></equationsource></equation></equationsource></inlineequation>

During transesterification process in the fixed-bed reactor, traditional heterogeneous catalyst cannot stand the high pressure drop and would easily breaks at the reactor bottom thus blocking the outlets. KF/γ-Al2O3/honeycomb ceramic (HC) monolithic catalyst which was prepared in this research...

This paper is devoted to investigate the stochastic stationary responses of a viscoelastic system with impacts under additive Gaussian white noise excitation. First, the viscoelastic force is approximated as equivalent stiffness and damping terms, and the original system is replaced by a system...

Weather derivatives are difficult to price due to the nontradability of weather and the absence of liquid secondary markets for these contracts. We use the concept of indifference pricing to develop a model for calculating the willingness to pay for weather insurance. Compared with other...