The interest in techniques to improve water use efficiency (WUE) such as controlled deficit irrigation is rising due to the emergence of strong competition for fresh water in order to comply with the increased demand for food worldwide. Additionally, the use of crop models in conjunction with complex decision support systems becomes more and more widespread making it essential to reliably predi...

As the energy markets continue to evolve, valuation of energy-linked assets has been one of the focal topics of recent finance research. One of the most popular choices for describing asset movements is a class of the so-called ”convenience yield models”. Such models introduce a new unobserved quantity related to physical ownership of the asset. In turn, convenience yield models can be broadly ...

Two new approaches to the infinitesimal characterisation of quantum stochastic cocycles are reviewed. The first concerns mapping cocycles on an operator space and demonstrates the role of Hölder continuity; the second concerns contraction operator cocycles on a Hilbert space and shows how holomorphic assumptions yield cocycles enjoying an infinitesimal characterisation which goes beyond the sco...

We consider the problem of hedging and pricing claims for delivery of crude oil or natural gas to a given location. We work with a three factor model for the asset spot, the convenience yield and the locational basis. The convenience yield is taken to be unobserved and must be filtered. We study the value function corresponding to utility pricing with exponential utility. Assuming the basis is ...

In this paper, extensions to conventional stochastic estimation techniques are presented, whereby uncertainties in individual estimates may be deduced. Test applications to time series of velocity measurements in a turbulent boundary layer confirm the fidelity of the uncertainty estimation procedure and illustrate how the optimal choice of stochastic estimation model can be strongly dependent o...