In this paper we investigate the behavior of credit yield spreads in an equilibrium framework in which the risk-free interest rate and yields on risky debt are jointly and endogenously determined. The model is one of a partially observable pure exchange economy in which debt is a contingent claim on the cash flow. We find that an increase in risk aversion or an increase in uncertainty about gro...

emission trading is one of the famous mechanisms under kyoto protocol to control environmental pollution. the aim of this paper is to design a strategic supply chain network under emission trading scheme with inclusion of stochastic parameters and budget limitation. demand and price of carbon credits are considered as the important stochastic parameters influencing the supply chain network. in ...

semilinear stochastic evolution equations with multiplicative l'evy noise are considered‎. ‎the drift term is assumed to be monotone nonlinear and with linear growth‎. ‎unlike other similar works‎, ‎we do not impose coercivity conditions on coefficients‎. ‎we establish the continuous dependence of the mild solution with respect to initial conditions and also on coefficients. ‎as corollarie...

This paper develops and estimates a continuous-time model of the term structure of interests under regime shifts. The model uses an analytically simple representation of Markov regime shifts that elucidates the effects of regime shifts on the yield curve and gives a clear interpretation of regime-switching risk premiums. The model falls within the broad class of essentially affine models with a...

We study the two-dimensional flow of foams around a circular obstacle within a long channel. In experiments, we confine the foam between liquid and glass surfaces. In simulations, we use a deterministic software, the Surface Evolver, for bubble details and a stochastic one, the extended Potts model, for statistics. We adopt a coherent definition of liquid fraction for all studied systems. We va...

Multi-functionalization of catalytically-active nanomaterials provides a valuable tool for enhancing reaction yield by shifting reaction equilibrium, and potentially also by adjusting reaction-diffusion kinetics. For example, multi-functionalization of mesoporous silica to make the interior pore surface hydrophobic can enhance yield in dehydration reactions. Detailed molecular-level modeling to...

technical and scale efficiencies of cotton farms, in khorasan province, were estimated through the parametric approach during the period 2000-2003. efficiency was estimated through stochastic translog frontier production function based on panel data. results indicated that technical efficiency wa rated as less than scale efficiency. means of technical and scale efficiency were found to be 63 an...

Due to the overexploitation of Chambo (Oreochromis species), other species such as Utaka (Copadichromis species) have become important part of Lake Malaŵi, Nkhatabay fishery. The shift to Copadichromis species has put the stocks on danger of being overexploited just as was the case with Chambo (Oreochromis species). The study was therefore conducted to forecast Copadichromis (Utaka) species yie...

for vectors x, y ∈ rn, it is said that x is left matrix majorizedby y if for some row stochastic matrix r; x = ry. the relationx ∼` y, is defined as follows: x ∼` y if and only if x is leftmatrix majorized by y and y is left matrix majorized by x. alinear operator t : rp → rn is said to be a linear preserver ofa given relation ≺ if x ≺ y on rp implies that t x ≺ ty onrn. the linear preservers o...

in any supply chain, distribution planning of products is of great importance to managers. with effective and flexible distribution planning, mangers can increase the efficiency of time, place, and delivery utility of whole supply chain. in this paper, inventory routing problem (irp) is applied to distribution planning of perishable products in a supply chain. the studied supply chain is compos...