3 resultados para Arbitrage free risk neutral measure

em Greenwich Academic Literature Archive - UK


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High-integrity castings require sophisticated design and manufacturing procedures to ensure they are essentially macrodefect free. Unfortunately, an important class of such defects—macroporosity, misruns, and pipe shrinkage—are all functions of the interactions of free surface flow, heat transfer, and solidication in complex geometries. Because these defects arise as an interaction of the preceding continuum phenomena, genuinely predictive models of these defects must represent these interactions explicitly. This work describes an attempt to model the formation of macrodefects explicitly as a function of the interacting continuum phenomena in arbitrarily complex three-dimensional geometries. The computational approach exploits a compatible set of finite volume procedures extended to unstructured meshes. The implementation of the model is described together with its testing and a measure of validation. The model demonstrates the potential to predict reliably shrinkage macroporosity, misruns, and pipe shrinkage directly as a result of interactions among free-surface fluid flow, heat transfer, and solidification.

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Electromagnetic levitation of electrically conductive droplets by alternating magnetic fields is a technique used to measure the physical properties of liquid metallic alloys such as surface tension or viscosity. Experiments can be conducted under terrestrial conditions or in microgravity, to reduce electromagnetic stirring and shaping of the droplet. Under such conditions, the time-dependent behaviour of a point of the free surface is recorded. Then the signal is analysed considering the droplet as a harmonic damped oscillator. We use a spectral code, for fluid flow and free surface descriptions, to check the validity of this assumption for two cases. First when the motion inside the droplet is generated by its initial distortion only and second, when the droplet is located in a uniform magnetic field originating far from the droplet. It is found that some deviations exist which can lead to an overestimate of the value of viscosity.

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The increasing complexity of new manufacturing processes and the continuously growing range of fabrication options mean that critical decisions about the insertion of new technologies must be made as early as possible in the design process. Mitigating the technology risks under limited knowledge is a key factor and major requirement to secure a successful development of the new technologies. In order to address this challenge, a risk mitigation methodology that incorporates both qualitative and quantitative analysis is required. This paper outlines the methodology being developed under a major UK grand challenge project - 3D-Mintegration. The main focus is on identifying the risks through identification of the product key characteristics using a product breakdown approach. The assessment of the identified risks uses quantification and prioritisation techniques to evaluate and rank the risks. Traditional statistical process control based on process capability and six sigma concepts are applied to measure the process capability as a result of the risks that have been identified. This paper also details a numerical approach that can be used to undertake risk analysis. This methodology is based on computational framework where modelling and statistical techniques are integrated. Also, an example of modeling and simulation technique is given using focused ion beam which is among the investigated in the project manufacturing processes.