THE COMMANDING HEIGHTS OF MEXICAN AGRICULTURE

International Development,

Calidad sonora

El concepto de calidad sonora, compartido por el área de las Ciencias Medioambientales, la Ecología y las relacionadas con la Comunicación, también puede aplicarse en la mejora de los procesos de fabricación industrial. Su utilización práctica en este ámbito se incrementa cada año buscando la satisfacción de potenciales clientes. En este artículo relacionamos dicho concepto aplicándolo al estudio, desde el punto de vista perceptivo, de un sistema de Control Activo de Ruido instalado en un furgón monovolúmen con capacidad para siete ocupantes

Market timing with option-implied distributions in an exponentially tempered stable Lévy market

This paper explores the empirical implementation of a dynamic asset allocation strategy using option-implied distributions when the underlying risky asset price is modeled by an exponential Lévy process. One month risk-neutral densities are extracted from option prices and are subsequently transformed to the risk-adjusted, or real-world densities. Optimal portfolios consisting of a risky and risk-free asset rebalanced on a monthly basis are then constructed and their performance analyzed. It is found that the portfolios formed using option-implied expectations under the Lévy market assumption, which are flexible enough to capture the higher moments of the implied distribution, are far more robust to left-tail market risks and offer statistically significant improvements to risk-adjusted performance when investor risk aversion is low, however this diminishes as risk aversion increases.info:eu-repo/semantics/publishedVersio