Cross-hedging with futures and options : bivariate lognormal and other distributions

Includes bibliographical references (pages [64]-65).Chang and Wong investigated the optimal hedging strategy for a multinational firm which has future cash flows in a foreign currency but is unable to directly hedge the exchange rate risk. The firm then uses a third currency to partially hedge the risk. This paper generalizes the paper of Chang and Wong by showing that some of the assumptions about the distributions of the stochastic process generating the exchange rates are more restrictive than necessary, i.e., that the same results hold under weaker assumptions. It then does specific calculations for the case of bivariate lognormal distributions and compares the results to those of Chang and Wong. Using the bivariate lognormal model with a term for inflation gives the best performance under a real-life data set.Ph.D. (Doctor of Philosophy

Responding to Community Questions During a Pandemic: Development of a COVID-19 Inquiry Group

Oregon Health & Science University (OHSU) Department of Family Medicine (DFM) formed the COVID-19 Inquiry Group to rapidly identify, evaluate, synthesize, and disseminate existing evidence to answer COVID-19-related questions for their community. After answers to questions from the community are finalized, team administrators submit answers for authorization by an institutional oversight committee. At the end of each day, a report of approved answers is disseminated widely.https://deepblue.lib.umich.edu/bitstream/2027.42/154809/1/Biagioli main article.pdfDescription of Biagioli main article.pdf : Main articl

The Sherman Act’s Criminal Extraterritorial Reach: Unresolved Questions Raised By United States v. AU Optronics Corp

This case presents a rare opportunity to litigate unresolved issues respecting the antitrust laws’ applicability to international cartels in the criminal context. (Mark S. Popofsky & Anthony Biagioli, Ropes & Gray)

From strain to displacement: using deformation to enhance distributed acoustic sensing applications

International audienceOver a period of less than a decade, distributed acoustic sensing (DAS) has become a well-established technology in seismology. For historical and practical reasons, DAS manufacturers usually provide instruments that natively record strain (rate) as the principal measurement. While at first glance strain recordings seem related to ground motion waveforms (displacement, velocity and acceleration), not all the seismological tools developed over the past century (e.g. magnitude estimation, seismic beamforming, etc.) can be readily applied to strain data. Notably, the directional sensitivity of DAS is more limited than conventional particle motion sensors, and DAS experiences an increased sensitivity to slow waves, often highly scattered by the subsurface structure and challenging to analyse. To address these issues, several strategies have been already proposed to convert strain rate measurements to particle motion. In this study, we focus on strategies based on a quantity we refer to as ‘deformation’. Deformation is defined as the change in length of the cable and is closely related to displacement, yet both quantities differ from one another: deformation is a relative displacement measurement along a curvilinear path. We show that if the geometry of the DAS deployment is made of sufficiently long rectilinear sections, deformation can be used to recover the displacement without the need of additional instruments. We validate this theoretical result using full-waveform simulations and by comparing, on a real data set, the seismic velocity recovered from DAS with that recorded by collocated seismometers. The limitations of this approach are discussed, and two applications are shown: enhancing direct P-wave arrivals and simplifying the magnitude estimation of seismic events. Converted displacement provides better sensitivity to high velocity phases, improves broadside response and permits the direct application of conventional seismological tools that are less effective when applied to strain (rate) data

Penile Cancer

Squamous cell carcinoma of the penis represents approximately 0.5% of all cancers among men in the United States and other developed countries. Although rare, it is associated with significant disfigurement, and only half of the patients survive beyond 5 years. Proper evaluation of both the primary lesion and lymph nodes is critical, because nodal involvement is the most important factor of survival. The NCCN Clinical Practice Guidelines in Oncology for Penile Cancer provide recommendations on the diagnosis and management of this devastating disease based on evidence and expert consensus

Penile cancer: Clinical Practice Guidelines in Oncology.

Squamous cell carcinoma of the penis represents approximately 0.5% of all cancers among men in the United States and other developed countries. Although rare, it is associated with significant disfigurement, and only half of the patients survive beyond 5 years. Proper evaluation of both the primary lesion and lymph nodes is critical, because nodal involvement is the most important factor of survival. The NCCN Clinical Practice Guidelines in Oncology for Penile Cancer provide recommendations on the diagnosis and management of this devastating disease based on evidence and expert consensus