Black-Scholes Partial Differential Equation In The Mellin Transform Domain

Abstract: This paper presents Black-Scholes partial differential equation in the Mellin transform domain. The Mellin transform method is one of the most popular methods for solving diffusion equations in many areas of science and technology. This method is a powerful tool used in the valuation of options. We extend the Mellin transform method proposed by Panini and Srivasta

Mathematical Modelling of the Spatial Distribution of a COVID-19 Outbreak with Vaccination Using Diffusion Equation

The formulation of mathematical models using differential equations has become crucial in predicting the evolution of viral diseases in a population in order to take preventive and curative measures. In December 2019, a novel variety of Coronavirus (SARS-CoV-2) was identified in Wuhan, Hubei Province, China, which causes a severe and potentially fatal respiratory syndrome. Since then, it has been declared a pandemic by the World Health Organization and has spread around the globe. A reaction–diffusion system is a mathematical model that describes the evolution of a phenomenon subjected to two processes: a reaction process, in which different substances are transformed, and a diffusion process, which causes their distribution in space. This article provides a mathematical study of the Susceptible, Exposed, Infected, Recovered, and Vaccinated population model of the COVID-19 pandemic using the bias of reaction–diffusion equations. Both local and global asymptotic stability conditions for the equilibria were determined using a Lyapunov function, and the nature of the stability was determined using the Routh–Hurwitz criterion. Furthermore, we consider the conditions for the existence and uniqueness of the model solution and show the spatial distribution of the model compartments when the basic reproduction rate R01 and R0>1. Thereafter, we conducted a sensitivity analysis to determine the most sensitive parameters in the proposed model. We demonstrate the model’s effectiveness by performing numerical simulations and investigating the impact of vaccination, together with the significance of spatial distribution parameters in the spread of COVID-19. The findings indicate that reducing contact with an infected person and increasing the proportion of susceptible people who receive high-efficacy vaccination will lessen the burden of COVID-19 in the population. Therefore, we offer to the public health policymakers a better understanding of COVID-19 management