Weighting in life cycle assessment (LCA) is a controversial subject due to its dependence upon value judgements. One of the issues that has to be dealt with is whose values that shall be reflected. In a democratic society, a fair candidate to put forward would be the government. In environmental economics taxes and fees set up by governments to protect natural resources and the environment are ...

We present a simple put option pricing procedure within an asset±liability valuation model that can be used to estimate the incentives facing stock-based life insurance ®rms to voluntarily sell their businesses under various operating and regulatory conditions. Estimates are derived for samples of 11 sold ®rms and 24 continuing Australian life insurance companies over a period of industry conso...

We demonstrate how the pricing problem for electricity swing options can be considered as a stochastic bilevel program with asymmetric information. Unlike as for nancial options, there is no way for basing the pricing method on no-arbitrage arguments. Two main situations are analyzed: If the seller has strong market power he/she might be able to maximize his/her utility, while in fully competit...

valuation is one of the main subjects in investment management which plays an important role in efficient capital allocation. valuation has become an important subject since supreme leader addressed the 44th principal of constitutional law. considering many problems which have arrised in valuation and stock pricing by privatization organization during resent years,it is essential to pay more at...

Reverse mortgages are new financial products that allow the elders to convert their home equity into cash until they die. From the provider’s perspective, longevity risk and house price risk are the major risks involved with reverse mortgages. This paper proposes a securitization method to transfer the risks associated with reverse mortgages and focuses on tranching longevity and house price ri...

We introduce resource allocation techniques for problems where (i) the agents express requests obtaining item bundles as compact edge-weighted directed acyclic graphs (each path in such a graph is bundle whose valuation sum of weights traversed edges), and (ii) do not bid on exact same items but may conflicting that cannot be both assigned or require accessing specific with limited capacity. Th...

We claim that divisible residuated lattices (DRLs) can act as a unifying evaluation framework for soft constraint satisfaction problems (soft CSPs). DRLs form the algebraic semantics of a large family of substructural and fuzzy logics [13, 15], and are therefore natural candidates for this role. As a preliminary evidence in support to our claim, along the lines of Cooper et al. and Larrosa et a...

In this paper, we describe several methods for the valuation of performance-dependent options. Thereby, we use a multidimensional Black-Scholes model for the temporal development of the asset prices. The martingale approach then yields the fair price as a multidimensional integral whose dimension is the number of stochastic processes in the model. The integrand is typically discontinuous, thoug...

As smart meters continue to be deployed around the world collecting unprecedented levels of fine-grained data about consumers, we need to find mechanisms that are fair to both, (1) the electric utility who needs the data to improve their operations, and (2) the consumer who has a valuation of privacy but at the same time benefits from sharing consumption data. In this paper we address this prob...