This paper presents a new approximation formula for pricing swaptions and caps/floors under the LIBOR market model of interest rates (LMM) with the local and affine-type stochastic volatility. In particular, two approximation methods are applied in pricing, one of which is so called...

This paper presents a new approximation formula for pricing swaptions and caps/floors under the Libor market model of interest rates (LMM) with the local and affine-type stochastic volatility. In particular, two approximation methods are applied in pricing, one of which is so called...

This paper presents a new approximation formula for pricing swaptions and caps/floors under the LIBOR market model of interest rates (LMM) with the local and affine-type stochastic volatility. In particular, two approximation methods are applied in pricing, one of which is so called...

By using RS and GIS technology, the ecological risk index (ERI) was constructed based on the analysis of land use change and structural characteristics in urbanization watershed of Songhua River in Harbin section. Afterwards, the spatial distribution and change characteristics maps of ERI...

This paper analyzes the multiplex composite function of agriculture comprehensively as follows. The first is political function: it can ensure the national food security: the second is economic function. it can promote agricultural competitiveness and increase farmers' income; the third is social...

Do the citizens have a role in constraining policies in autocratic governments? Usually the political and economic literature model autocracy as if the citizens have no role in constraining leader’s behavior, but actually autocratic government are afraid of possible citizens’ revolts. In...

Do the citizens have a role in constraining policies in autocratic governments? Usually the political and economic literature model autocracy as if the citizens have no role in constraining leader’s behavior, but actually autocratic government are afraid of possible citizens’ revolts. In...

This paper introduces the disadvantages and developmental approaches of rural tourism in China on the basis of apprehending the connotation of integrated agriculture. Then, it analyzes the current situation of new agricultural tourism park in Chengdu City of Sichuan Province. Research result...

This paper proposes a new approximation method for pricing barrier options with discrete monitoring under stochastic volatility environment. In particular, the integration-by-parts formula and the duality formula in Malliavin calculus are effectively applied in pricing barrier options with...