On the complete model with stochastic volatility by Hobson and Rogers

We examine a recent model, proposed by Hobson and Rogers, which generalizes the classical one by Black and Scholes for pricing derivative securities such as options and futures. We treat the numerical solution of some degenerate partial differential equations governing this financial problem and propose some new numerical schemes which naturally apply in this degenerate setting. Then we aim to emphasize the mathematical tractability of the Hobson-Rogers model by presenting analytical and numerical results comparable with the known ones in the classical Black-Scholes environment.Black-Scholes model, stochastic volatility, path-dependent option, hypoelliptic equation

Farsighted Stable Sets

A coalition is usually called stable if nobody has an immediate incentive to leave or to enter the coalition since he does not improve his payoff. This myopic behaviour does not consider further deviations which can take place after the first move. Chwe (1994) incorporated the idea of a farsighted behaviour in his definition of large consistent set (LCS). In some respects, we propose a different idea of dominance relation based on indirect dominance and on a different concept of belief on moving coalitions' behavior. A notion of stability for a coalitional game is introduced by taking into account the different degree of risk/safety of any player participating in a move. Some results about uncovered sets, internal stability are investigated. By exploiting our dominance and stability concepts, the prisoner's dilemma in coalitional form and its Nash equilibrium are studied. Some examples illustrating the differences between the largest consistent set, our stable set and stable set due to von Neumann and Morgenstern (1947) are presented.

Calculus via regularizations in Banach spaces and Kolmogorov-type path-dependent equations

The paper reminds the basic ideas of stochastic calculus via regularizations in Banach spaces and its applications to the study of strict solutions of Kolmogorov path dependent equations associated with "windows" of diffusion processes. One makes the link between the Banach space approach and the so called functional stochastic calculus. When no strict solutions are available one describes the notion of strong-viscosity solution which alternative (in infinite dimension) to the classical notion of viscosity solution.Comment: arXiv admin note: text overlap with arXiv:1401.503

Which Conflict? Understanding Conflicts inside the Board of Directors

The analysis of previous studies oncerning corporate governance shows that some variables related to board behavior have not been properly taken into account. The paper analyses board of directors in its decision-making process highlighting the importance that a clear identification of conflict could have on board effectiveness. It emerges that conflict could be distinguished in many typologies affecting board dynamics and decision-making process. The aim of the paper is to identify the mainstream and the other borderline approaches in the existent literature in order to: (i) mark some confusions in the definition or use of the concept of conflict; (ii) point-out its potential in the study of board effectiveness in a behavioural per-spective; (iii) underline the need for operationalizing the concept for a better understanding of its impact on board effectiveness and for a robust future empirical research.Conflict; Board of Directors; Decision-making Process; Board Effetiveness

Electric Vehicles Charging Control based on Future Internet Generic Enablers

In this paper a rationale for the deployment of Future Internet based applications in the field of Electric Vehicles (EVs) smart charging is presented. The focus is on the Connected Device Interface (CDI) Generic Enabler (GE) and the Network Information and Controller (NetIC) GE, which are recognized to have a potential impact on the charging control problem and the configuration of communications networks within reconfigurable clusters of charging points. The CDI GE can be used for capturing the driver feedback in terms of Quality of Experience (QoE) in those situations where the charging power is abruptly limited as a consequence of short term grid needs, like the shedding action asked by the Transmission System Operator to the Distribution System Operator aimed at clearing networks contingencies due to the loss of a transmission line or large wind power fluctuations. The NetIC GE can be used when a master Electric Vehicle Supply Equipment (EVSE) hosts the Load Area Controller, responsible for managing simultaneous charging sessions within a given Load Area (LA); the reconfiguration of distribution grid topology results in shift of EVSEs among LAs, then reallocation of slave EVSEs is needed. Involved actors, equipment, communications and processes are identified through the standardized framework provided by the Smart Grid Architecture Model (SGAM).Comment: To appear in IEEE International Electric Vehicle Conference (IEEE IEVC 2014

Navier-Stokes-Voigt equations with memory in 3D lacking instantaneous kinematic viscosity

We consider a Navier-Stokes-Voigt fluid model where the instantaneous kinematic viscosity has been completely replaced by a memory term incorporating hereditary effects, in presence of Ekman damping. The dissipative character of our model is weaker than the one where hereditary and instantaneous viscosity coexist, previously studied by Gal and Tachim-Medjo. Nevertheless, we prove the existence of a regular exponential attractor of finite fractal dimension under rather sharp assumptions on the memory kernel.Comment: 26 page

On quantum and relativistic mechanical analogues in mean field spin models

Conceptual analogies among statistical mechanics and classical (or quantum) mechanics often appeared in the literature. For classical two-body mean field models, an analogy develops into a proper identification between the free energy of Curie-Weiss type magnetic models and the Hamilton-Jacobi action for a one dimensional mechanical system. Similarly, the partition function plays the role of the wave function in quantum mechanics and satisfies the heat equation that plays, in this context, the role of the Schrodinger equation in quantum mechanics. We show that this identification can be remarkably extended to include a wide family of magnetic models classified by normal forms of suitable real algebraic dispersion curves. In all these cases, the model turns out to be completely solvable as the free energy as well as the order parameter are obtained as solutions of an integrable nonlinear PDE of Hamilton-Jacobi type. We observe that the mechanical analog of these models can be viewed as the relativistic analog of the Curie-Weiss model and this helps to clarify the connection between generalised self-averaging and in statistical thermodynamics and the semi-classical dynamics of viscous conservation laws.Comment: Dedicated to Sandro Graffi in honor of his seventieth birthda

Coinfection by Ureaplasma spp., Photobacterium damselae and an Actinomyces-like microorganism in a bottlenose dolphin (Tursiops truncatus) with pleuropneumonia stranded along the Adriatic coast of Italy

A case of pleuropneumonia is reported in an adult male bottlenose dolphin (Tursiops truncatus) found stranded in 2014 along the Central Adriatic coast of Italy. A severe pyogranulomatous pneumonia and thoracic lymphadenopathy were present at necropsy. Numerous Splendore-Hoeppli bodies were found microscopically scattered throughout the lung. Histochemical evidence of Actinomyces-like organisms was obtained from the pulmonary parenchyma, with a strain of Photobacterium damselae subsp. piscicida and Ureaplasma spp. being also isolated from the same tissue. For the latter, a genome fragment of approximately 1400 bp from the 16s rDNA was amplified and sequenced. BLAST analysis revealed 100% identity with an uncultured Ureaplasma spp. (JQ193826.1)