1,157 research outputs found

    On Embedded Complete Markets

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    Interaction Between Financial Markets: The limit of the option pricing theory and arbitrage trading strategy

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    We shall investigated the interaction between the Stock Market and the Stock Option Market. When the prediction of the future distribution of the stock prices is different between these markets, there is a chance that the option pricing method of Black and Scholes with its application to an arbitrage trading strategy may lead us to a big market turmoil. We shall investigate the conditions of market stability.

    Perioperative management in a patient with type 1 diabetes mellitus who presented severe hypoglycemia during dental implant surgery: a case report

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    Abstract Background Patients with type 1 diabetes mellitus (DM) have poor glycemic control owing to extreme impairments in glucose tolerance. There are few reports regarding dental implant surgery in patients with type 1 DM. We describe herein the perioperative glycemic management in an outpatient with type 1 DM who experienced a rare case of severe hypoglycemia during dental implant surgery. Only one such case has previously been reported. Case presentation A 60-year-old male patient diagnosed with type 1 DM was scheduled for dental implant primary surgery. Premedication with peroral antibiotics was carried out to prevent possible systemic infection as a complication of DM. The patient was treated to control intraoperative hypertension with diligent attention to cardiovascular conditions by using a bolus administration of nicardipine and diltiazem. During surgery, he abruptly complained of hypoglycemic symptoms and had a blood glucose level of 32 mg/dL. Following oral administration and electrolyte-combined infusion of glucose, he immediately recovered from the critical situation. The surgical procedure, involving a lower jaw implant fixture placement, was performed as planned and resulted in less invasion, limited to the area of implant fixture placement within the right mandibular region of the two molars, compared to implant surgery that spans the entire lower jaw. Conclusions The present case suggests that it is essential to promptly monitor possible signs of hypoglycemia-precipitated acute symptoms in patients with DM. In addition, it is also necessary to appropriately administer insulin with an electrolyte-combined infusion of glucose for deliberate glycemic control; this is particularly true in patients with type 1 DM undergoing relatively highly-invasive oral surgical manipulation such as commonly performed dental implant surgery spanning the entire jaw

    On Pricing Exponential Square Root Barrier Knockout European Options

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    A barrier option is one of the most popular exotic options which designed to give a protection against unexpected wild fluctuation of stock prices. Protection is given to both the writer and holder of such an option. Kunitomo and Ikeda [1992] analytically obtained a pricing formula for an exponential double bariier knockout option. In terms of the underlying Brownian motion W(t), the logarithm of their barriers for a stock price process S(t) assumed to be geometric Brownian motion are straight line boundaries, and so their protection is not uniform over time. To remedy this problem, we propose square root curved boundatires *** for the underlying process W(t). Since the standard deviation of Brownian motion is proportional to **, these boundaries (after transformation) can provide uniform protection throughout the life time of the option. We will apply asymptotic expansions of certain conditional probabilities obtained by Morimoto [1999] to approximate pricing formulae for exponential square root double bariier knockout European call options. With these formulae, it takes very short time (t

    The Chernoff Modification of the Fisher Exact Test for the Difference of Two Binomial Probabilities

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    To test the difference of two binomial probabilities, we will apply the Fisher exact test modified by Chernoff (2002), which will be called CMF test. The key idea is to use the P-value of Fisher exact test as a test statistic and this makes it possible to apply the Fisher exact test for more general problems. The numerical comparison with the likelihood ratio test and the Bayes test are also conducted and we find that the performance of CMF test is close to that of the likelihood ratio test and it is satisfactory in various situations. We also give a Kullback-Leibler information number of the margins to for the testing problems which justify the stability of P-values of CMF test.Fisher Exact Test, Binomial Probabilities, Chernoff Modification, Test of Difference of Probabilities
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