This paper tests empirically the recently proposed canonical least-squares Monte-Carlo (CLM) method for pricing American options. Market data used are daily last prices for the American style S&P 100 Index puts (OEX puts) and IBM puts from 30 July 2008 to 30 January 2009, the period of which...

Background Thorough population-based estimates of the epidemiological features of metastatic disease in newly diagnosed stage IV breast cancer are lacking.Methods Target patients were identified using the Surveillance, Epidemiology, and End Results (SEER) database. Logistic regression was used...

In his 2009 Letter to Investors, Buffett discussed in some details about the problems of the Black-Scholes formula when applied to extremely long-dated put options. This short comment shows that if his arguments are interpreted in the usual way, he probably made several mistakes in his Letter....

Surface evaporation is one of the main processes in the soil–atmosphere interaction. Since it is highly related to meteorological factors and soil properties, determination of evaporation rate from soil surface remains a challenge. To investigate the evaporation from unsaturated soil, a...

This study takes Lin'an City which early carries out the experiment of ecological operation of hickory as the study site. On the basis of the input-output data on hickory and farmers' land, we analyze the input-output status of hickory land which practises ecological operation, the operators'...

Risk-neutral valuation is used widely in derivatives pricing. It is shown in this paper, however, that the naïve approach of simply setting the growth rate of the underlying security to risk-free interest rate, which happens to work for a geometric Brownian motion (GBM) process, fails to work...

The current interest in complex networks is a part of a broader movement towards research on complex systems. Motivation of this work raises the two challenging questions: (i) Are real networks fundamentally random preferential attached without any deterministic attachment for both un-weighted...

Climate change has become a global issue. Almost all countries, including China, are now considering adopting policies and measures to reduce greenhouse gas (GHG) emissions. The power generation sector, as a key source of GHG emissions, will also have significant potential for GHG mitigation....