Uniform exponential ergodicity of stochastic dissipative systems

We study ergodic properties of stochastic dissipative systems with additive noise. We show that the system is uniformly exponentially ergodic provided the growth of nonlinearity at infinity is faster than linear. The abstract result is applied to the stochastic reaction diffusion equation in $\mathbb R^d$ with $d\le 3$.Comment: 16 page

Ergodicity of Stochastically Forced Large Scale Geophysical Flows

We investigate the ergodicity of 2D large scale quasigeostrophic flows under random wind forcing. We show that the quasigeostrophic flows are ergodic under suitable conditions on the random forcing and on the fluid domain, and under no restrictions on viscosity, Ekman constant or Coriolis parameter. When these conditions are satisfied, then for any observable of the quasigeostrophic flows, its time average approximates the statistical ensemble average, as long as the time interval is sufficiently long

A pricing formula for delayed claims: Appreciating the past to value the future

We consider the valuation of contingent claims with delayed dynamics in a Black \& Scholes complete market model. We find a pricing formula that can be decomposed into terms reflecting the market values of the past and the present, showing how the valuation of future cashflows cannot abstract away from the contribution of the past. As a practical application, we provide an explicit expression for the market value of human capital in a setting with wage rigidity

Stochastic Landau-Lifshitz-Gilbert equations for frustrated magnets under fluctuating currents

We examine a stochastic Landau-Lifshitz-Gilbert equation for a frustrated ferromagnet with competing first and second order exchange interactions exposed to deterministic and random spin transfer torques in form of transport noise. We prove the existence and pathwise uniqueness of weak martingale solutions in the energy space. The result ensures the persistence of topological patterns, occurring in such magnetic systems, under the influence of a fluctuating spin current