This paper investigates the American option price in a two-state regime-switching model. The dynamics of underlying are driven by a Markov-modulated Geometric Wiener process. That means the interest rate, the appreciation rate, and the volatility of underlying rely on hidden states of the...

It is important to have an accurate understanding of heat transfer process of water flowing through fractures for geothermal energy extraction and utilization. We designed an experiment to study the convective heat transfer characteristics of distilled water pumped through manmade smooth and...