10,355 research outputs found

    The valuation of clean spread options: linking electricity, emissions and fuels

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    The purpose of the paper is to present a new pricing method for clean spread options, and to illustrate its main features on a set of numerical examples produced by a dedicated computer code. The novelty of the approach is embedded in the use of a structural model as opposed to reduced-form models which fail to capture properly the fundamental dependencies between the economic factors entering the production process

    Wegner-Houghton equation in low dimensions

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    We consider scalar field theories in dimensions lower than four in the context of the Wegner-Houghton renormalization group equations (WHRG). The renormalized trajectory makes a non-perturbative interpolation between the ultraviolet and the infrared scaling regimes. Strong indication is found that in two dimensions and below the models with polynomial interaction are always non-perturbative in the infrared scaling regime. Finally we check that these results do not depend on the regularization and we develop a lattice version of the WHRG in two dimensions.Comment: 44 pages, 9 figures; some sections revised, refs. added; final version to appear in Phys. Rev.

    Microscopic systems with and without Coulomb interaction, fragmentation and phase transitions in finite nuclei

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    We test the influence of the Coulomb interaction on the thermodynamic and cluster generation properties of a system of classical particles described by different lattice models. Numerical simulations show that the Coulomb interaction produces essentially a shift in temperature of quantities like the specific heat but not qualitative changes. We also consider a cellular model. The thermodynamic properties of the system are qualitatively unaltered.Comment: 8 pages, 9 figures. New comments concerning the effect of the Coulomb interaction on the caloric curve. Justification of the criterion which defines bound clusters. Further comments about the identification of the order of the transition. To be published in Eur. Phys. J.
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