Coexisting periodic attractors in injection locked diode lasers

We present experimental evidence for coexisting periodic attractors in a semiconductor laser subject to external optical injection. The coexisting attractors appear after the semiconductor laser has undergone a Hopf bifurcation from the locked steady state. We consider the single mode rate equations and derive a third order differential equation for the phase of the laser field. We then analyze the bifurcation diagram of the time periodic states in terms of the frequency detuning and the injection rate and show the existence of multiple periodic attractors.Comment: LaTex, 14 pages, 6 postscript figures include

Indifference Pricing of Weather Derivatives

Weather derivatives are difficult to price due to the nontradability of weather and the absence of liquid secondary markets for these contracts. We use the concept of indifference pricing to develop a model for calculating the willingness to pay for weather insurance. Compared with other approaches, indifference pricing is less ambitious since it does not attempt to predict a transacted market price. The application of indifference pricing in the case of German crop producers shows that their willingness to pay for weather insurance depends on the production program and varies regionally. This suggests the development of tailored insurance products. Copyright 2008, Oxford University Press.

Hedging dairy production losses using weather-based index insurance

This article proposes a temperature-humidity index insurance product and examines whether this product can effectively protect against the risk of reduced milk production caused by heat stress. Results suggest that even when premiums are at higher than actuarially fair levels and the insurance purchaser is faced with both spatial and temporal basis risks, a temperature-humidity index insurance product would provide risk management benefits to a representative south-central Georgia dairy producer. Copyright 2007 International Association of Agricultural Economists.