Fitting 3D morphable models using implicit representations

We consider the problem of approximating the 3D scan of a real object through an affine combination of examples. Common approaches depend either on the explicit estimation of point-to-point correspondences or on 2-dimensional projections of the target mesh; both present drawbacks. We follow an approach similar to [IF03] by representing the target via an implicit function, whose values at the vertices of the approximation are used to define a robust cost function. The problem is approached in two steps, by approximating first a coarse implicit representation of the whole target, and then finer, local ones; the local approximations are then merged together with a Poisson-based method. We report the results of applying our method on a subset of 3D scans from the Face Recognition Grand Challenge v.1.0.

The Risk Management of Minimum Return Guarantees

Contracts paying a guaranteed minimum rate of return and a fraction of a positive excess rate, which is specified relative to a benchmark portfolio, are closely related to unit-linked life-insurance products and can be considered as alternatives to direct investment in the underlying benchmark. They contain an embedded power option, and the key issue is the tractable and realistic hedging of this option, in order to rigorously justify valuation by arbitrage arguments and prevent the guarantees from becoming uncontrollable liabilities to the issuer. We show how to determine the contract parameters conservatively and implement robust risk-management strategies.