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

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

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)