Optimal quantization for the pricing of swing options

In this paper, we investigate a numerical algorithm for the pricing of swing options, relying on the so-called optimal quantization method. The numerical procedure is described in details and numerous simulations are provided to assert its efficiency. In particular, we carry out a comparison with the Longstaff-Schwartz algorithm.Comment: 27

Quadratic optimal functional quantization of stochastic processes and numerical applications

In this paper, we present an overview of the recent developments of functional quantization of stochastic processes, with an emphasis on the quadratic case. Functional quantization is a way to approximate a process, viewed as a Hilbert-valued random variable, using a nearest neighbour projection on a finite codebook. A special emphasis is made on the computational aspects and the numerical applications, in particular the pricing of some path-dependent European options.Comment: 41 page

Aportación al conocimiento de las tricolomatáceas de Cataluña

Sobre la base de 555 recolecciones procedentes de 190 localidades de Catalufia, se da cuenta de 88 especies de Tricolomataceas (excluyendo Melanoleuca y Mycena) reconocidas. De ellas, las 11 siguientes constituyen nueva cita para la flora catalana: Armillariella cepestipes Vel., Armillariella obscura (Secr.) Romagn., Calocybe ionides (Bull, ex Fr.) Donk., Laccaria montana Sing., Lyophyllum fumatofoetens (Secr.) Schff., Marasmius tremulae Vel., Oudemansiella badia (Quél.) Moser, Resupinatus unguicularis (Fr.) Sing., Strobilurus stephanocystis (Hora) Sing., Strobilurus tenacellus (Pers. ex Fr.) Sing., Tricholoma flavobrunneum (Fr. ex Fr.) Kummer.Contribution to the study of the Tricholomataceae of Catalonia. Based on 555 collections from 190 localities of Catalonia (NE Spain), a list is given of 88 species of Tricholomataceae (excuding Melanoleuca and Mycena) collected, with first hand chorological and ecological data. Some of them (11) are new records for Catalonia: Armillariella cepestipes Vel., Armillariella obscura (Secr.) Romagn., Calocybe ionides (Bull, ex Fr.) Donk., Laccaria montana Sing., Lyophyllum fumatofoetens (Secr.) Schff., Marasmius tremulae Vel., Oudemansiella badia (Quél.) Moser, Resupinatus unguicularis (Fr.) Sing., Strobilurus stephanocystis (Hora) Sing., Strobilurus tenacellus (Pers. ex Fr.) Sing., Tricholoma flavobrunneum (Fr. ex Fr.) Kummer

Aportación al conocimiento de las tricolomatáceas de Cataluña

Contribution to the study of the Tricholomataceae of Catalonia. Based on 555 collections from 190 localities of Catalonia (NE Spain), a list is given of 88 species of Tricholomataceae (excuding Melanoleuca and Mycena) collected, with first hand chorological and ecological data. Some of them (11) are new records for Catalonia: Armillariella cepestipes Vel., Armillariella obscura (Secr.) Romagn., Calocybe ionides (Bull, ex Fr.) Donk., Laccaria montana Sing., Lyophyllum fumatofoetens (Secr.) Schff., Marasmius tremulae Vel., Oudemansiella badia (Quél.) Moser, Resupinatus unguicularis (Fr.) Sing., Strobilurus stephanocystis (Hora) Sing., Strobilurus tenacellus (Pers. ex Fr.) Sing., Tricholoma flavobrunneum (Fr. ex Fr.) Kummer.Sobre la base de 555 recolecciones procedentes de 190 localidades de Catalufia, se da cuenta de 88 especies de Tricolomataceas (excluyendo Melanoleuca y Mycena) reconocidas. De ellas, las 11 siguientes constituyen nueva cita para la flora catalana: Armillariella cepestipes Vel., Armillariella obscura (Secr.) Romagn., Calocybe ionides (Bull, ex Fr.) Donk., Laccaria montana Sing., Lyophyllum fumatofoetens (Secr.) Schff., Marasmius tremulae Vel., Oudemansiella badia (Quél.) Moser, Resupinatus unguicularis (Fr.) Sing., Strobilurus stephanocystis (Hora) Sing., Strobilurus tenacellus (Pers. ex Fr.) Sing., Tricholoma flavobrunneum (Fr. ex Fr.) Kummer

Raman spectroscopy, a non-destructive solution to the study of glass and its alteration

This paper presents the potential of Raman spectroscopy, a non-destructive technique which can be applied in-situ, for the analyses of glass and their alteration. Recent analytical developments are summarised for different glass composition and practical examples are given. The paper describes how to extract compositional information from the glass, first based on the spectra profile to distinguish rapidly alkali silicate from alkaline-earth alkali silicate and lead alkali silicate glass, then using the spectral decomposition and correlations to extract quantitative data. For alkali silicate glasses, that are most prone to alteration, the spectral characteristics are described to interpret the alteration process (selective leaching or dissolution of the glass) from the Raman spectra of the altered glass. These developments have greatly widened the potential of the technique and supplement well its ability to measure the thickness of the altered layer and identify the crystalline deposits

Some recent developments in quantization of fractal measures

We give an overview on the quantization problem for fractal measures, including some related results and methods which have been developed in the last decades. Based on the work of Graf and Luschgy, we propose a three-step procedure to estimate the quantization errors. We survey some recent progress, which makes use of this procedure, including the quantization for self-affine measures, Markov-type measures on graph-directed fractals, and product measures on multiscale Moran sets. Several open problems are mentioned.Comment: 13 page

Schmallenberg virus detection in Culicoides biting midges in Spain: First laboratory evidence for highly efficient infection of Culicoides of the Obsoletus complex and Culicoides imicola

Since Schmallenberg disease was discovered in 2011, the disease rapidly spread across Europe. Culicoides biting midges have been implicated as putative Schmallenberg vectors in Europe. The detection of Schmallenberg virus (SBV) in field collected Culicoides was evaluated through retrospective (2011–2012) collections and captures performed in 2013. This study represents the first detection of SBV in field collected Culicoides in Spain. Infectious midges were detected at the foothills of Pyrenees, Aramunt, in the summer 2012. All the specimens infected with Schmallenberg were of the species Culicoides obsoletus s.s. confirming its putative vector status in Spain. Experimental infection on field collected Culicoides provided evidence of atypical high efficiency for SBV vector infection and transmission potential in local populations of Culicoides imicola and in Culicoides of the Obsoletus complex. However, captured individuals of C. imicola were more susceptible to SBV infection than C. obsoletus s.l. (p < .001), with an infection ratio of 0.94 and 0.63, respectively. In contrast, a Culicoides nubeculosus colony appeared to be refractory to SBV infection.info:eu-repo/semantics/acceptedVersio

Physiological performance of the cold-water coral Dendrophyllia cornigera reveals its preference for temperate environments

Cold-water corals (CWCs) are key ecosystem engineers in deep-sea benthic communities around the world. Their distribution patterns are related to several abiotic and biotic factors, of which seawater temperature is arguably one of the most important due to its role in coral physiological processes. The CWC Dendrophyllia cornigera has the particular ability to thrive in several locations in which temperatures range from 11 to 17 °C, but to be apparently absent from most CWC reefs at temperatures constantly below 11 °C. This study thus aimed to assess the thermal tolerance of this CWC species, collected in the Mediterranean Sea at 12 °C, and grown at the three relevant temperatures of 8, 12, and 16 °C. This species displayed thermal tolerance to the large range of seawater temperatures investigated, but growth, calcification, respiration, and total organic carbon (TOC) fluxes severely decreased at 8 °C compared to the in situ temperature of 12 °C. Conversely, no significant differences in calcification, respiration, and TOC fluxes were observed between corals maintained at 12 and 16 °C, suggesting that the fitness of this CWC is higher in temperate rather than cold environments. The capacity to maintain physiological functions between 12 and 16 °C allows D. cornigera to be the most abundant CWC species in deep-sea ecosystems where temperatures are too warm for other CWC species (e.g., Canary Islands). This study also shows that not all CWC species occurring in the Mediterranean Sea (at deep-water temperatures of 12-14 °C) are currently living at their upper thermal tolerance limit. © 2014 Springer-Verlag Berlin Heidelber