The calculation of the Asian option value has posed a great challenge to financial mathematicians as well as practitioners for the last two decades. Since there exists no analytical valuation formula to date, one has to resort to other methods to price this commonly used derivative product. One possibility is the usage of simulation approaches, which however are especially inefficient for Asian...

We propose that the rotational kinematics of the globular cluster system (GCS) in M31 can result from a past major merger event that could have formed its bulge component. We numerically investigate kinematical properties of globular clusters (GCs) in remnants of galaxy mergers between two discs with GCs in both their disc and halo components. We find that the GCS formed during major merging ca...

This paper presents a method for enhancing multi-channel reverberant speech using event-based processing of wavelet transform coefficients. Clustering of the wavelet extrema across multiple channels is employed to obtain a single multi-scale extrema representation from which the enhanced signal is synthesized. Processing is done in the LPC residual domain, with the entire analysis being precede...