11 resultados para Volatilità implicita formula di Black-Sholescomportamento asintotico vicino alla scadenza

em Consorci de Serveis Universitaris de Catalunya (CSUC), Spain


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Port cities have represented one of the first forms of urbanization in which maritime culture has had an important role in the construction of the city. This culture has often been the foundation of an evolving tendency confronted with other lines of development, against which it has alternately integrated itself creatively, or has had to compete. The study of the multiplicity of these evolving processes, with their corresponding conflicts, can be useful to develop a critical vision of the grand transformations of industrial ports in urban areas and to initiate a critical reflection which would help to interpret current tendencies. The Barcelona case seems to be exemplary because the new projects for the transformation of the old port, focused on providing a service for luxury boats, have reopened a discussion on urban transformation works carried out in the past and have mostly revealed that the relationship between the port and the city is in constant evolution.For this reason there is a discussion about the extent to which large scale port transformations can have repercussions on maritime culture in a locality and what the role of maritime culture is with respect to fundamental economic strategies linked mostly to the construction of the post-Fordist city

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One of the founders of numismatics in Modern Age was the archbishop of Tarragona and renowned jurist Antonio Agustín. He was educated during the mid-sixteenth century mainly in Italy, particularly in Bologna and Padua. His role in the development of antiquarian studies – and interest in collecting – ran parallel to the development of numismatics in the Cinquecento. His interest in realia , i.e., the materials and documents perceived as primary evidence of history understood in a global sense, make him a pioneer in setting the trends and methodologies which would be later employed by Bernard de Montfaucon. The period Antonio Agustín spent in Bologna, at the Reale Collegio di Spagna, between 1539 and 1544, afforded him the opportunity to enter a very cultivated circle where the admiration and study of the Antique was well established since the mid-fifteenth century. The cultural effervescence taking place in Bologna was encouraged by the court of Giovanni II Bentivoglio and the University alike. Artists also contributed to the development of antiquarian knowledge, and the painter Amico Aspertini (ca. 1475-1552) exemplifies this. It is clear that Antonio Agustín certainly benefited from the scholarly environment in Bologna during the first half of the Cinquecento, which had been firmly anchored since the fertile Quattrocento. Although the documentary evidence is scarce, and it is difficult to pinpoint the details, it is undeniable that Antonio Agustín was heavily influenced by his Bolognese experience.

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"Vegeu el resum a l'inici del document del fitxer adjunt."

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By means of classical Itô's calculus we decompose option prices asthe sum of the classical Black-Scholes formula with volatility parameterequal to the root-mean-square future average volatility plus a term dueby correlation and a term due to the volatility of the volatility. Thisdecomposition allows us to develop first and second-order approximationformulas for option prices and implied volatilities in the Heston volatilityframework, as well as to study their accuracy. Numerical examples aregiven.

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We initiate a systematic scan of the landscape of black holes in any spacetime dimension using the recently proposed blackfold effective worldvolume theory. We focus primarily on asymptotically flat stationary vacuum solutions, where we uncover large classes of new black holes. These include helical black strings and black rings, black odd-spheres, for which the horizon is a product of a large and a small sphere, and non-uniform black cylinders. More exotic possibilities are also outlined. The blackfold description recovers correctly the ultraspinning Myers-Perry black holes as ellipsoidal even-ball configurations where the velocity field approaches the speed of light at the boundary of the ball. Helical black ring solutions provide the first instance of asymptotically flat black holes in more than four dimensions with a single spatial U(1) isometry. They also imply infinite rational non-uniqueness in ultraspinning regimes, where they maximize the entropy among all stationary single-horizon solutions. Moreover, static blackfolds are possible with the geometry of minimal surfaces. The absence of compact embedded minimal surfaces in Euclidean space is consistent with the uniqueness theorem of static black holes

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We initiate a systematic scan of the landscape of black holes in any spacetime dimension using the recently proposed blackfold effective worldvolume theory. We focus primarily on asymptotically flat stationary vacuum solutions, where we uncover large classes of new black holes. These include helical black strings and black rings, black odd-spheres, for which the horizon is a product of a large and a small sphere, and non-uniform black cylinders. More exotic possibilities are also outlined. The blackfold description recovers correctly the ultraspinning Myers-Perry black holes as ellipsoidal even-ball configurations where the velocity field approaches the speed of light at the boundary of the ball. Helical black ring solutions provide the first instance of asymptotically flat black holes in more than four dimensions with a single spatial U(1) isometry. They also imply infinite rational non-uniqueness in ultraspinning regimes, where they maximize the entropy among all stationary single-horizon solutions. Moreover, static blackfolds are possible with the geometry of minimal surfaces. The absence of compact embedded minimal surfaces in Euclidean space is consistent with the uniqueness theorem of static black holes

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Using the blackfold approach, we study new classes of higher-dimensional rotating black holes with electric charges and string dipoles, in theories of gravity coupled to a 2-form or 3-form field strength and to a dilaton with arbitrary coupling. The method allows to describe not only black holes with large angular momenta, but also other regimes that include charged black holes near extremality with slow rotation. We construct explicit examples of electric rotating black holes of dilatonic and non-dilatonic Einstein-Maxwell theory, with horizons of spherical and non-spherical topology. We also find new families of solutions with string dipoles, including a new class of prolate black rings. Whenever there are exact solutions that we can compare to, their properties in the appropriate regime are reproduced precisely by our solutions. The analysis of blackfolds with string charges requires the formulation of the dynamics of anisotropic fluids with conserved string-number currents, which is new, and is carried out in detail for perfect fluids. Finally, our results indicate new instabilities of near-extremal, slowly rotating charged black holes, and motivate conjectures about topological constraints on dipole hair.

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La legge costituzionale 1/1999 per le Regioni ordinarie (e la successiva 2/2001 per le Speciali) ha rappresentato un punto di svolta fondamentale del regionalismo italiano. Essa ha stabilito il principio dell’elezione popolare diretta del Presidente della Regione, a cui si collega un premio di maggioranza nel Consiglio regionale secondo il cosiddetto modello neo-parlamentare. Qualsiasi interruzione del rapporto fiduciario per dimissioni del Presidente o approvazione di una mozione di sfiducia porterebbe a nuove elezioni, cosa che rappresenta un serissimo deterrente alle crisi. La riforma prevedeva anche la possibilità per le Regioni di derogare col proprio Statuto a tali scelte tornando all’elezione consiliare e a sostituzioni della maggioranza. Nonostante alcuni tentativi di sfuggire alla regola del governo di legislatura utilizzando tale deroga in modo esplicito o surrettizio, seguendo vecchi retaggi assemblearisti, l’elezione diretta si è imposta ovunque, garantendo a tutte le Regioni analoghi e inediti standards di governabilità.

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We re-examine the theoretical concept of a production function for cognitive achievement, and argue that an indirect production function that depends upon the variables that constrain parents' choices is both moretractable from an econometric point of view, and more interesting from an economic point of view than is a direct production function that depends upon a detailed list of direct inputs such as number of books in the household. We estimate flexible econometric models of indirect production functions for two achievement measures from the Woodcock-Johnson Revised battery, using data from two waves of the Child Development Supplement to the PSID. Elasticities of achievement measures with respect to family income and parents' educational levels are positive and significant. Gaps between scores of black and white children narrow or remain constant as children grow older, a result that differs from previous findings in the literature. The elasticities of achievement scores with respect to family income are substantially higher for children of black families, and there are some notable difference in elasticities with respect to parents' educational levels across blacks and whites.