An alignment of the Business Process Execution Language (BPEL) and the Business Process Modelling Notation (BPMN) promises seamless integration of process documentation and executable process definitions. Thus, a lot of research has been conducted on a mapping from BPMN to BPEL. The other perspective of this alignment, i.e. a BPEL-to-BPMN mapping, was largely neglected. This paper presents a co...

It is a well accepted empirical result that forward exchange rate unbiasedness is rejected in tests using the “differences regression” of the change in the logarithm of the spot exchange rate on the forward discount. The result is referred to in the International Finance literature as the forward discount puzzle. Competing explanations of the negative bias of the forward discount coefficient in...

We combine earlier investigations of linear systems with Lévy fluc-We give a complete construction of the Ornstein-Uhlenbeck-Cauchy process as a fully computable model of an anomalous transport and a paradigm example of Doob's stable noise-supported Ornstein-Uhlenbeck process. Despite the nonexistence of all moments, we determine local characteristics (forward drift) of the process, generators ...

Proof. Let X(t) denote the number of customers in the system at time t. Since M/M/s process is a birth and death process, it follows from the previous proposition that {X(t), t ≥ 0} is time reversible. Now going forward in time, the time instants at which X(t) increases by 1 are the arrival instants of a Poisson process. Hence, by time reversibility, the time Points at which X(t) increases by 1...

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Forward contracts play a vital role in all electricity markets, and yet the details of the market for forward contracts are often opaque. In this paper we review the existing literature on forward contracts and explore the contracting process as it operates in Australia. The paper is based on interviews with participants in Australia’s National Electricity Market. The interviews were designed t...

We apply the graph container method to prove a number of counting results for the Boolean lattice P(n). In particular, we: (i) Give a partial answer to a question of Sapozhenko estimating the number of t error correcting codes in P(n), and we also give an upper bound on the number of transportation codes; (ii) Provide an alternative proof of Kleitman’s theorem on the number of antichains in P(n...

This paper studies exponential convergence index assignment of stochastic control systems from the viewpoint of backward stochastic di'erential equation. Like deterministic control systems, it is shown that the exact controllability of an open-loop stochastic system is equivalent to the possibility of assigning an arbitrary exponential convergence index to the solution of the closed-loop stocha...

In an infinite-horizon setting, Ferejohn and Page showed that Arrow’s axioms and stationarity lead to a dictatorship by the first generation. Packel strengthened this result by proving that no collective choice rule generating complete social preferences can satisfy unlimited domain, weak Pareto and stationarity. We prove that a domain restriction can be imposed and completeness can be dropped ...

We examine the dynamics of turbulent reconnection in 2D and 3D reduced MHD by calculating the effective dissipation due to coupling between small–scale fluctuations and large–scale magnetic fields. Sweet–Parker type balance relations are then used to calculate the global reconnection rate. Two approaches are employed — quasi–linear closure and an eddy-damped fluid model. Results indicate that d...