The traditional measure of market power is the HHI, which gives implausible results given the low elasticity of demand in electricity spot markets, unless it is adapted to take account of contracting. In its place the Residual Supply Index has been proposed as a more suitable index to measure potential market power in electricity markets, notably in California and more recently in the EU Sector...

This paper develops a new pricing model for American-style indexed executive stock options. We rely on a basic model framework and an indexation scheme first proposed by Johnson and Tian (2000a) in their analysis of European-style indexed options. Our derivation of the valuation formula represents an instructive example of the usefulness of the change-of-numeraire technique. In the paper’s nume...

in this paper, an adaptive physics-based method is developed for solving wave motion problems in one dimension (i.e., wave propagation in strings, rods and beams). the solution of the problem includes two main parts. in the first part, after discretization of the domain, a physics-based method is developed considering the conservation of mass and the balance of momentum. in the second part, ada...

Following the seminal works of Schmeidler (1989), Gilboa and Schmeidler (1989), roughly put, an agent’s subjective beliefs are said to be ambiguous if the beliefs may not be represented by a unique probability distribution, in the standard Bayesian fashion, but instead by a set of probabilities. An ambiguity averse decision maker evaluates an act by the minimum expected value that may be associ...

Introduction: Many studies have shown the effects of delivered dose distribution due to the incident photon energy on the tumor and healthy tissues. The ability to access the most appropriate radiation energy is essential to achieve the optimal treatment planning but there is a serious limitation in number of energies available on radiation therapy machines can restrict it. <s...

had involuntarily exited from its fixed exchange rate regime and had experienced a sharp currency depreciation as a result. The macroeconomic background was one of high and rising inflation expectations but a contracting real economy. The initial conditions for inflation targeting were not, therefore, particularly propitious. Despite this unfavorable backdrop, the United Kingdom’s experience wi...