Asymptotic Exponential Arbitrage and Utility-based Asymptotic Arbitrage in Markovian Models of Financial Markets

Consider a discrete-time infinite horizon financial market model in which the logarithm of the stock price is a time discretization of a stochastic differential equation. Under conditions different from those given in a previous paper of ours, we prove the existence of investment opportunities producing an exponentially growing profit with probability tending to $1$ geometrically fast. This is achieved using ergodic results on Markov chains and tools of large deviations theory. Furthermore, we discuss asymptotic arbitrage in the expected utility sense and its relationship to the first part of the paper.Comment: Forthcoming in Acta Applicandae Mathematica

Raising geese

With their meat, liver, feathers and down much sought after, raising geese can be a highly profitable venture. This practical, colourfully illustrated guide provides tips and guidance for breeding geese. With liberal use of tables and easy-to-follow processes, topics covered include anatomy, physiology and rearing techniques, with emphasis placed on feeding and common diseases. Later sections of the guide set out valuable ideas for the marketing of geese, as well as some recipes

Production and processing of moringa

Sometimes called “the tree of life” or “the tree of paradise” due to its exceptional environmental, medicinal and dietary benefits, the moringa is a multi-purpose tree whose leaves, flowers, fruits, bark and roots can all be directly consumed. Its nutritional qualities are becoming increasingly recognised and could represent an effective solution in combating malnutrition

Corps visible, corps invisible

Ce texte analyse les différentes phases des rituels funéraires chez les Lobi du Burkina Faso autour des notions de corps visible et corps invisible. La symbolique thanatologique de cette société est saisie à travers les différents modes de socialisation du corps qui distinguent : l’annonce du décès, la toilette ou les soins du corps, l’exposition, l’interrogatoire, l’enterrement du corps ainsi que les cérémonies de l’après-mort. La dialectique du corps visible/invisible est caractérisée par un processus de passage du monde des vivants au monde des morts, lequel se présente comme un principe général d’organisation de la vie. En effet, de la disparition de l’enveloppe charnelle lors de l’enterrement du cadavre (le corps visible) au déploiement du « double », associé à l’invisibilité du corps, on voit se mettre en jeu différentes conceptions de « l’âme » dans cette société, qui sont autant de conceptions du corps et de la personne.This text analyses the different phases of funeral rites among the Lobi of Burkina Faso focusing on the notions of visible body and invisible body. This society’s thanatological symbolism is understood through the different modes of socialisation of the body which distinguish between: the announcement of the death, the washing and treatment of the corpse, the displaying, questioning and burial of the corpse as well as the after-death ceremonies. The visible/invisible body dialectic is characterised by a process of passage from the world of the living to the world of the dead that appears as a general organising principle of life. Indeed, from the disappearance of the outer fleshly covering during the burial of the corpse (the visible body) to the deployment of the « double », associated with the invisibility of the body, it can be seen that different conceptions of ‘the soul’ are in play in this society which are also different conceptions of the body and of the person

Production et transformation du moringa

Parfois appelé « arbre de vie » ou « arbre du paradis » en raison de ses vertus environnementales, médicinales et alimentaires exceptionnelles, le moringa est un arbre à usages multiples dont les feuilles, fleurs, fruits, écorces et racines peuvent être consommés directement. Ses qualités nutritionnelles sont de plus en plus reconnues et pourraient représenter une solution efficace dans le cadre de la lutte contre la malnutrition. Le moringa peut aussi être valorisé sous forme de produits à plus haute valeur ajoutée, tels que l’huile de moringa qui offre une forte plus-value grâce à son prix élevé

Doublures, restes et rapports : les corps entre méconnaissances et mises

If the body finds a place in our discourse, it is only to justify what we abhor and to provide us with alibis. However, some postcolonial discourses generate misunderstanding via two major omissions: on the one hand, they steer away from a critique of the political economy of the scholar’s own body and its relationship to economic power; on the other hand, they fail to explore what can be said about the body conceived as remains and as residue. One cannot properly conceive of the body as a substance but, rather, as a relation —a relation to what it is not and, more importantly, a relation between the critic who raises the questio

Critique et hospitalité : réfléchir à partir de Maran

Dans cet article nous voulons explorer le problème essentiel de la liaison entre la critique et l’hospitalité. Qu'est-ce qu'une critique hospitalière ? La réponse à cette question très générale ne peut venir qu’à travers l'exploration des cas concrets. René Maran en est un. En dehors ou contre les utilisations polémiques et laudatives de l'œuvre de Maran, nous avions voulu pointer du doigt les contradictions qui se trouvent dans sa critique de l’aventure coloniale. Entre son texte fameux Batouala et ses deux autres ouvrages postérieurs sur les explorateurs Livingstone et Savorgnan de Brazza, il y a plus qu'une tension ; une véritable contradiction. À partir de cette contradiction, l'article examine la tension qu'il y a entre « une critique distante » - celle qui ne transforme pas la personne qui critique - et « une critique hospitalière » - celle qui, dans l'acte même de critiquer met en question non seulement les acteurs et situations critiqués mais le sujet critiquant lui-même. Critiquer devient donc une remise en question des autres et de soi. L'auto- réflexivité est réellement une étape fondamentale dans la critique, ce qui manque parfois chez les « postcoloniaux » et les « décoloniaux », si pressés de condamner ou d’adorer.In this article, we explore the essential problem of the link between criticism and hospitality. What is a hospitable critique? The answer to this very general question can only come through the exploration of concrete cases. René Maran is such a case. In addition to or in opposition to the polemical and laudatory uses of Maran's work, we wanted to point out the contradictions in his critique of the colonial adventure. Between his famous text Batouala and his two later works on the explorers Livingstone and Savorgnan de Brazza, there is more than a tension; there is a real contradiction. Based on this contradiction, the article examines the tension between "distant criticism" - that which does not transform the person criticizing - and "hospitable criticism" - that which, in the very act of criticizing, calls into question not only the actors and situations criticized, but the criticizing subject himself. Criticizing thus becomes a questioning of others and of oneself. Self-reflexivity is truly a fundamental step in criticism, something that is sometimes lacking among "postcolonials" and "decolonials", who are in such a hurry to either condemn or adore

Time Series Modeling and Forecasting GDP in the Ghanaian Economy

In this research, empirical modeling of the Ghanaian GDP was done by using the Box-Jenkins model which is also known as the Autoregressive Integrated Moving Average model (ARIMA). We followed the 4 steps involved in using this model which include model identification, estimation of parameters, diagnostic checking and finally, model use (or forecasting). The analysis was carried out by using the GDP data of Ghana from 1970-2014. We found an original result by discovering an ARIMA (0; 1; 0) process modeling this GDP data. Next, we made forecast of the GDP of Ghana for the period 2015-2020 and compared the forecast values with that of Ghana Statistical service and other international forecasting organizations. The result from the forecast revealed that the GDP of Ghana is mostly influenced by external factors and may experience an increase for the period 2015-2020. Keywords: Gross Domestic Product (GDP), stationarity, invertibility, Box-Jenkins, auto-regressive