Some Remarks on IBNR Evaluation Techniques

In this short paper we discuss a new methodology for estimating reserves for IBNR (incurred but not reported) claims.

Bounds for the price of discrete arithmetic Asian options.

In this paper the pricing of European-style discrete arithmetic Asian options with fixed and floating strike is studied by deriving analytical lower and upper bounds. In our approach we use a general technique for deriving upper (and lower) bounds for stop-loss premiums of sums of dependent random variables, as explained in Kaas, Dhaene and Goovaerts (2000), and additionally, the ideas of Rogers and Shi (1995) and of Nielsen and Sandmann (2003). We are able to create a unifying framework for discrete Asian options through these bounds, that generalizes several approaches in the literature as well as improves the existing results. We obtain analytical and easily computable bounds. The aim of the paper is to formulate an advice of the appropriate choice of the bounds given the parameters, investigate the effect of different conditioning variables and compare their efficiency numerically. Several sets of numerical results are included. We also show that the hedging using these bounds is possible. Moreover, our methods are applicable to a wide range of (pricing) problems involving a sum of dependent random variables.Asian option; Choice; Efficiency; Framework; Hedging; Methods; Options; Premium; Pricing; Problems; Random variables; Research; Stop-loss premium; Variables;

Electrical Spin Injection in a Ferromagnetic / Tunnel Barrier/ Semiconductor Heterostructure

We demonstrate experimentally the electrical ballistic electron spin injection from a ferromagnetic metal / tunnel barrier contact into a semiconductor III-V heterostructure. We introduce the Oblique Hanle Effect technique for reliable optical measurement of the degree of injected spin polarization. In a CoFe / Al2O3 / GaAs / (Al,Ga)As heterostructure we observed injected spin polarization in excess of 8 % at 80K.Comment: 5 pages, 4 figure

How to Determine the Capital Requirement for a Portfolio of Annuity Liabilities

This paper illustrates an analytic method that can be used to determine the total capital requirements necessary to properly provide for the future obligations of a portfolio of annuity liabilities and to protect the enterprise from the related risks it faces. This example is based on the work of Kaas, Dhaene and Goovaerts (2000).

Highly efficient room temperature spin injection in a metal-insulator-semiconductor light emitting diode

We demonstrate highly efficient spin injection at low and room temperature in an AlGaAs/GaAs semiconductor heterostructure from a CoFe/AlOx tunnel spin injector. We use a double-step oxide deposition for the fabrication of a pinhole-free AlOx tunnel barrier. The measurements of the circular polarization of the electroluminescence in the Oblique Hanle Effect geometry reveal injected spin polarizations of at least 24% at 80K and 12% at room temperature

Improved linkage analysis of Quantitative Trait Loci using bulk segregants unveils a novel determinant of high ethanol tolerance in yeast

Background: Bulk segregant analysis (BSA) coupled to high throughput sequencing is a powerful method to map genomic regions related with phenotypes of interest. It relies on crossing two parents, one inferior and one superior for a trait of interest. Segregants displaying the trait of the superior parent are pooled, the DNA extracted and sequenced. Genomic regions linked to the trait of interest are identified by searching the pool for overrepresented alleles that normally originate from the superior parent. BSA data analysis is non-trivial due to sequencing, alignment and screening errors. Results: To increase the power of the BSA technology and obtain a better distinction between spuriously and truly linked regions, we developed EXPLoRA (EXtraction of over-rePresented aLleles in BSA), an algorithm for BSA data analysis that explicitly models the dependency between neighboring marker sites by exploiting the properties of linkage disequilibrium through a Hidden Markov Model (HMM). Reanalyzing a BSA dataset for high ethanol tolerance in yeast allowed reliably identifying QTLs linked to this phenotype that could not be identified with statistical significance in the original study. Experimental validation of one of the least pronounced linked regions, by identifying its causative gene VPS70, confirmed the potential of our method. Conclusions: EXPLoRA has a performance at least as good as the state-of-the-art and it is robust even at low signal to noise ratio's i.e. when the true linkage signal is diluted by sampling, screening errors or when few segregants are available

Geostatistical modeling of the spatial variability of arsenic in groundwater of southeast Michigan

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/94929/1/wrcr10188.pd

Організаційно-економічні основи розвитку соціальної відповідальності промисловго підприємства

Сучасний етап розвитку суспільства характеризується суттєвими змінами в усіх сферах соціального та економічного життя. Довготривалий економічний спад після відновлення незалежності України обумовив зниження соціальної активності підприємств, а сучасні кризові тенденції негативно позначаються на виконанні соціальних функцій державою. Це, поряд з постійними трансформаційними процесами, призводить до зниження якості життя й негативно впливає на розвиток економіки. Впровадження принципів соціальної відповідальності в бізнес- процеси виступає чинником подальшого розвитку підприємства та набуває першочергового значення при вирішенні ряду соціальних проблем. При цитуванні документа, використовуйте посилання http://essuir.sumdu.edu.ua/handle/123456789/1581

Self-trapped states and the related luminescence in PbCl2_2 crystals

We have comprehensively investigated localized states of photoinduced electron-hole pairs with electron-spin-resonance technique and photoluminescence (PL) in a wide temperature range of 5-200 K. At low temperatures below 70 K, holes localize on Pb$^{2+}$ ions and form self-trapping hole centers of Pb$^{3+}$. The holes transfer to other trapping centers above 70 K. On the other hand, electrons localize on two Pb$^{2+}$ ions at higher than 50 K and form self-trapping electron centers of Pb$_2$$^{3+}$. From the thermal stability of the localized states and PL, we clarify that blue-green PL band at 2.50 eV is closely related to the self-trapped holes.Comment: 8 pages (10 figures), ReVTEX; removal of one figure, Fig. 3 in the version

A poisson regression approach for modelling spatial autocorrelation between geographically referenced observations

Abstract Background Analytic methods commonly used in epidemiology do not account for spatial correlation between observations. In regression analyses, omission of that autocorrelation can bias parameter estimates and yield incorrect standard error estimates. Methods We used age standardised incidence ratios (SIRs) of esophageal cancer (EC) from the Babol cancer registry from 2001 to 2005, and extracted socioeconomic indices from the Statistical Centre of Iran. The following models for SIR were used: (1) Poisson regression with agglomeration-specific nonspatial random effects; (2) Poisson regression with agglomeration-specific spatial random effects. Distance-based and neighbourhood-based autocorrelation structures were used for defining the spatial random effects and a pseudolikelihood approach was applied to estimate model parameters. The Bayesian information criterion (BIC), Akaike's information criterion (AIC) and adjusted pseudo R2, were used for model comparison. Results A Gaussian semivariogram with an effective range of 225 km best fit spatial autocorrelation in agglomeration-level EC incidence. The Moran's I index was greater than its expected value indicating systematic geographical clustering of EC. The distance-based and neighbourhood-based Poisson regression estimates were generally similar. When residual spatial dependence was modelled, point and interval estimates of covariate effects were different to those obtained from the nonspatial Poisson model. Conclusions The spatial pattern evident in the EC SIR and the observation that point estimates and standard errors differed depending on the modelling approach indicate the importance of accounting for residual spatial correlation in analyses of EC incidence in the Caspian region of Iran. Our results also illustrate that spatial smoothing must be applied with care.</p