A numerical algorithm for a class of BSDEs via branching process

We generalize the algorithm for semi-linear parabolic PDEs in Henry-Labord\`ere (2012) to the non-Markovian case for a class of Backward SDEs (BSDEs). By simulating the branching process, the algorithm does not need any backward regression. To prove that the numerical algorithm converges to the solution of BSDEs, we use the notion of viscosity solution of path dependent PDEs introduced by Ekren, Keller, Touzi and Zhang (2012) and extended in Ekren, Touzi and Zhang (2013).Comment: 31 page

Unbiased simulation of stochastic differential equations

We propose an unbiased Monte-Carlo estimator for $\mathbb{E}[g(X_{t_1}, \cdots, X_{t_n})]$, where $X$ is a diffusion process defined by a multi-dimensional stochastic differential equation (SDE). The main idea is to start instead from a well-chosen simulatable SDE whose coefficients are updated at independent exponential times. Such a simulatable process can be viewed as a regime-switching SDE, or as a branching diffusion process with one single living particle at all times. In order to compensate for the change of the coefficients of the SDE, our main representation result relies on the automatic differentiation technique induced by Bismu-Elworthy-Li formula from Malliavin calculus, as exploited by Fourni\'e et al.(1999) for the simulation of the Greeks in financial applications. In particular, this algorithm can be considered as a variation of the (infinite variance) estimator obtained in Bally and Kohatsu-Higa [Section 6.1](2014) as an application of the parametrix method

Branching diffusion representation of semilinear PDEs and Monte Carlo approximation

We provide a representation result of parabolic semi-linear PD-Es, with polynomial nonlinearity, by branching diffusion processes. We extend the classical representation for KPP equations, introduced by Skorokhod (1964), Watanabe (1965) and McKean (1975), by allowing for polynomial nonlinearity in the pair $(u, Du)$, where $u$ is the solution of the PDE with space gradient $Du$. Similar to the previous literature, our result requires a non-explosion condition which restrict to "small maturity" or "small nonlinearity" of the PDE. Our main ingredient is the automatic differentiation technique as in Henry Labordere, Tan and Touzi (2015), based on the Malliavin integration by parts, which allows to account for the nonlinearities in the gradient. As a consequence, the particles of our branching diffusion are marked by the nature of the nonlinearity. This new representation has very important numerical implications as it is suitable for Monte Carlo simulation. Indeed, this provides the first numerical method for high dimensional nonlinear PDEs with error estimate induced by the dimension-free Central limit theorem. The complexity is also easily seen to be of the order of the squared dimension. The final section of this paper illustrates the efficiency of the algorithm by some high dimensional numerical experiments

Censorship Resistance as a Side-Effect

This position paper presents the following thought experiment: can we build communication protocols that (1) are sufficiently useful that they achieve widespread adoption as general-purpose communication mechanisms and (2) thwart censorship as a consequence of their design? We posit that a useful communication platform that is inherently resistant to traffic analysis, if widely adopted and used primarily for purposes not related to censorship circumvention, may be too politically and economically costly for a government to block.

Decision-supporting models for human-reliability based safety promotion in offshore Liquid Natural Gas terminal

We would like to give great thanks to the experienced engineers in the Beihai Offshore LNG Terminal for their helpful support during the preparation of this paper. We would also like to express thanks to the editor and the anonymous reviewer for the valuable comments.Peer reviewedPostprin

An Integrated Human Reliability Based Decision Pool Generating and Decision Making Method for Power Supply System in LNG Terminal

Acknowledgement We would like to give sincerely thank to Zhonghe Zhang, the principle expert in Sinopec and other relevant staff in Beihai LNG terminal for their valuable and constructive support during the development of this work. We would also like to express our very great appreciation to the respected reviewers. Their valuable suggestions and comments have enhanced the strength of this paper.Peer reviewedPostprin

Leadership Development at a Training Center in the Philippines

The great tragedy today is the dearth of leadership in many of our organizations. The cry for leadership, Where are the leaders? reverberates around the world without any active response. Consequently, many organizations have initiated steps to incorporate the process of developing leaders from within their organizations. One such organization is the Campus Crusade for Christ International. This researcher examined the leadership training program of Campus Crusade\u27s Great Commission Training Center (GCTC) in Manila, Philippines by asking nine research questions arising from How is training for leadership presently incorporated into the GCTC curricula? A questionnaire was designed incorporating the characteristics of transformational leadership. Document research, interviews, and a questionnaire survey of trainers and trainees at the GCTC provided the data of this study. Findings indicated that there was intention to develop leader qualities at the GCTC but the follow through to bring it about needs improvement. The curriculum showed a priority on leadership development even though it was not explicitly the driving focus for the training. Generally, the GCTC program was effective in developing leader qualities in the lives of the trainees. The preferred training methods at the GCTC included field experience, lecture and small group discussion. The researcher recommended that Crusade leaders and trainers should re-examine and renew their commitments to leadership development, and to call on all staff members to develop and demonstrate leader qualities. In light of the GCTC\u27s commitment to leadership development the curriculum committee should construct a comprehensive plan for developing leadership. Trainers should be developed further especially in the area of guiding the discovery process of the trainees and in their repertoire of teaching methods. This study sheds light for curriculum decision makers in leadership development