The t-distribution has a “fat tail” feature, which is more suitable than the normal probability density function to describe distribution characteristics of return on assets. difficulty using price European options that fat tail can lead deviation in one integral required for option pricing. We use called logarithmic truncated options. A risk neutral valuation method was used obtain pricing mod...

In this paper, we compare the point of view of the regulator and the investors about the required solvency level of an insurance company. We assume that the required solvency level is determined using the Tail-Value at Risk and analyze the diversification benefit, both on the required capital and on the residual risk, when merging risks. To describe the dependence structure, we use a range of v...

We present new near-infrared speckle interferometric observations of the young stellar object Elias 1. The emission is resolved into a narrow east-west elongated blue halo (FWHM about 0. ′′2x1. ′′0) and an unresolved core (FWHM < 0. ′′2). Previously, Kataza and Maihara (1991) had inferred an east-west elongated optically thin disk within which the NIR light is directly scattered. Adding new pie...

A prototype thermionic electron gun for a high-brightness X-ray generator has been developed. Its extraction voltage and design current are 60 kV and 100 mA (DC), respectively. The X-ray generator aims towards a maximum brilliance of 60 kW mm(-2). The beam sizes at the rotating anticathode must therefore be within 1.0 mm x 0.1 mm and a small beam emittance is required. The fabricated electron g...

A precise test of the theory of stellar evolution can be performed by measuring the difference in average energy between the neutrino line produced by Be electron capture in the solar interior and the corresponding neutrino line produced in a terrestrial laboratory. The high temperatures in the center of the sun broaden the line asymmetrically, FWHM = 1.6 keV, and cause an average energy shift ...

We designed, fabricated, and characterized a dielectric metamaterial lens created by varying the density of subwavelength low refractive index nanoholes in a high refractive index substrate, resulting in a locally variable effective refraction index. It is shown that a constructed graded index lens can overcome diffraction effects even when the aperture/wavelength (D/λ) ratio is smaller than 40...

A growing number of X-ray sources based on the free-electron laser (XFEL) principle are presently under construction or have recently started operation. The intense, ultrashort pulses of these sources will enable new insights in many different fields of science. A key problem is to provide x-ray optical elements capable of collecting the largest possible fraction of the radiation and to focus i...

A precise test of the theory of stellar evolution can be performed by measuring the diierence in average energy between the neutrino line produced by 7 Be electron capture in the solar interior and the corresponding neutrino line produced in a terrestrial laboratory. The high temperatures in the center of the sun broaden the line asymmetrically, FWHM = 1.6 keV, and cause an average energy shift...

The conditional tail expectation in risk analysis describes the expected amount of risk that can be experienced given that a potential risk exceeds a threshold value, and provides an important measure for right-tail risk. In this paper, we study the convolution and extreme values of dependent risks that follow a multivariate phase type distribution, and derive explicit formulas of several condi...

Highly stable room-temperature, mid-IR, GaSb-based laser diodes have been characterized at various temperatures and driver currents. Up to 54 mW of output power was demonstrated in a 3150- to 3180-nm-wavelength range with <20-nm FWHM spectral width.