In this paper, installment options on the underlying asset which evolves according to Black-Scholes model and pays constant dividend to its owner will be considered. Applying arbitrage pricing theory, the non-homogeneous parabolic partial differential equation governing the value of installment option is derived. Then, penalty method is used to value the European continuous installment call opt...

Wood dust generated during woodworking—particularly from hardwood species sanding—poses a health and safety hazard to workers in the wood industry. This study aimed determine particle-size distribution of selected content fine particles created machine sanding, which pose highest hazards woodworking Six were studied: black alder, European ash, common walnut, pedunculate oak, hornbeam, beech. Th...

We test the hypothesis that knowledge of historically documented, anti-black conspiracies affects perceived plausibility of new, anti-black conspiracies. In Experiment 1 (N = 78), African Americans and European Americans read about a current conspiracy aimed at undermining either African American or European American–elected officials. African Americans perceived the anti-black conspiracy as mo...

Why do some countries comply with their treaty obligations, even when those obligations impose a heavy political burden? Past analyses have shown domestic politics plays an important role. Downs et al (1996) and Von Stein (2005) argue that countries most readily enter into treaties when they would comply with the obligations anyway. Furthermore, Pahre and Papayanou (1997) and Dai (2005, 2006) p...

in this paper, installment options on the underlying assetwhich evolves according to black-scholes model and pays constant dividendto its owner will be considered. applying arbitrage pricing theory,the non-homogeneous parabolic partial differential equation governingthe value of installment option is derived. then, penalty method is usedto value the european continuous installment call option.

The Caspian (Hyrcanian) lowland forest zone in northern Iran is characterized by small remnant alder forest communities, dominated or subdominated with an Euxino-Hyrcanian element, Alnus glutinosa ssp. barbata. The first floristic inventory of these alder forests in northern Iran is presented. The floristic catalogue is based on the data of 133 phytosociological releves in eight different alder...

The Republic of Adygea is one the southern entities located in northwestern part North Caucasus. northern republic stretches across Kuban lowlands and along slopes Greater Climatic conditions are favourable for growth heat-loving woody shrub vegetation. area covered by forests 285.7 thousand hectares, including 278.4 hectares forests. distributed unevenly; most concentrated piedmont mountainous...

In light of the difficulties in stand volume estimation natural forests, we analyzed height–diameter relationships and derived a set height equations for naturally developing forest ecosystems, using Järvselja old-growth Laeva commercial Estonia as case study. This contribution presents an approach to model individual tree Scots pine, common aspen, silver downy birch, Norway spruce, black alder...