A note on super-hedging for investor-producers

We study the situation of an agent who can trade on a financial market and can also transform some assets into others by means of a production system, in order to price and hedge derivatives on produced goods. This framework is motivated by the case of an electricity producer who wants to hedge a position on the electricity spot price and can trade commodities which are inputs for his system. This extends the essential results of Bouchard & Nguyen Huu (2011) to continuous time markets. We introduce the generic concept of conditional sure profit along the idea of the no sure profit condition of R\`asonyi (2009). The condition allows one to provide a closedness property for the set of super-hedgeable claims in a very general financial setting. Using standard separation arguments, we then deduce a dual characterization of the latter and provide an application to power futures pricing

Investment under uncertainty, competition and regulation

We investigate a randomization procedure undertaken in real option games which can serve as a basic model of regulation in a duopoly model of preemptive investment. We recall the rigorous framework of [M. Grasselli, V. Lecl\`ere and M. Ludkovsky, Priority Option: the value of being a leader, International Journal of Theoretical and Applied Finance, 16, 2013], and extend it to a random regulator. This model generalizes and unifies the different competitive frameworks proposed in the literature, and creates a new one similar to a Stackelberg leadership. We fully characterize strategic interactions in the several situations following from the parametrization of the regulator. Finally, we study the effect of the coordination game and uncertainty of outcome when agents are risk-averse, providing new intuitions for the standard case

Uniform rationality of Poincar\'e series of p-adic equivalence relations and Igusa's conjecture on exponential sums

This thesis contains some new results on the uniform rationality of Poincar\'e series of p-adic equivalence relations and Igusa's conjecture on exponential sumsComment: Doctoral thesis, University of Lill

One for All: Neural Joint Modeling of Entities and Events

The previous work for event extraction has mainly focused on the predictions for event triggers and argument roles, treating entity mentions as being provided by human annotators. This is unrealistic as entity mentions are usually predicted by some existing toolkits whose errors might be propagated to the event trigger and argument role recognition. Few of the recent work has addressed this problem by jointly predicting entity mentions, event triggers and arguments. However, such work is limited to using discrete engineering features to represent contextual information for the individual tasks and their interactions. In this work, we propose a novel model to jointly perform predictions for entity mentions, event triggers and arguments based on the shared hidden representations from deep learning. The experiments demonstrate the benefits of the proposed method, leading to the state-of-the-art performance for event extraction.Comment: Accepted at The Thirty-Third AAAI Conference on Artificial Intelligence (AAAI-19) (Honolulu, Hawaii, USA

Flooding in Mekong River Delta, Viet Nam

human development, climate change

THE WATER-DEMAND AND GAP-VOLUME OF AGGREGATE FOR FERROCEMENT

In designing concrete based on paste saturation we should know the water-demand of cement, aggregate and the Gap-volume of aggregate mixture. The water-demand assures the consistency of fresh concrete and the cement-setting. The paste saturated concrete can be designed if the Gap-volume of aggregate is known. The experimental results of the author in this investigation shows such analytical relationships from which the water-demand and the Gap-volume of aggregate can easily be determined for the case of the gradually and continuously graded aggregates with maximal particle size (D = 1:2:4 mm)