An Arbitrage Approach to the Pricing of Catastrophe Options Involving the Cox Process

We investigate the valuation and hedging of catastrophe options, whose claim arrival process is modeled by the Cox process or a doubly stochastic Poisson process. Employing the non-arbitrage principle we obtain closed form formula for the pricing of the option. Various hedging parameters are also computed.catastrophe options, Cox process, pricing

Information Behavior and Japanese Students: How Can an Understanding of the Research Process Lead to Better Information Literacy?

Academic librarians are striving to better serve international students as this emerging population grows on university campuses. Past studies of international students generally focus on linguistic and cultural differences in relation to information literacy skills development. However, it is necessary to go beyond these factors to better serve the population. By using a framework based in information behavior research, the present study investigates the factors that mediate students\u27 behavior and information literacy skills. Practical recommendations based on the findings of an in-depth qualitative study of students\u27 research process are provided

An Agenda for Revising the Taxation of Philanthropy in Japan

As the size and scope of Japan\u27s philanthropic activities have grown, so has the need to re-examine Japan\u27s tax policies with regards to charitable giving and volunteerism. In particular, there is a need to review the classification of tax-exempt entities under the Corporate Tax Law to ensure that only bona fide non-profit activities are tax-exempt. Japan should also explore new tax incentives to encourage volunteerism, such as allowing deductions for out-of-pocket expenses incident to charity work, carryovers, and a liberalization of Japan\u27s current system for specific itemized deductions. Finally, Japan\u27s tax policies should be used to encourage more cross-border philanthropy given the nation\u27s interest in increasing its presence in international affairs