The knapsack problem approach in solving partial hedging problems of options

En option är ett finansiellt kontrakt som ger dess innehavare en rättighet (men medför ingen skyldighet) att sälja eller köpa någonting (till exempel en aktie) till eller från säljaren av optionen till ett visst pris vid en bestämd tidpunkt i framtiden. Den som säljer optionen binder sig till att gå med på denna framtida transaktion ifall optionsinnehavaren längre fram bestämmer sig för att inlösa optionen. Säljaren av optionen åtar sig alltså en risk av att den framtida transaktion som optionsinnehavaren kan tvinga honom att göra visar sig vara ofördelaktig för honom. Frågan om hur säljaren kan skydda sig mot denna risk leder till intressanta optimeringsproblem, där målet är att hitta en optimal skyddsstrategi under vissa givna villkor. Sådana optimeringsproblem har studerats mycket inom finansiell matematik. Avhandlingen "The knapsack problem approach in solving partial hedging problems of options" inför en ytterligare synpunkt till denna diskussion: I en relativt enkel (ändlig och komplett) marknadsmodell kan nämligen vissa partiella skyddsproblem beskrivas som så kallade kappsäcksproblem. De sistnämnda är välkända inom en gren av matematik som heter operationsanalys. I avhandlingen visas hur skyddsproblem som tidigare lösts på andra sätt kan alternativt lösas med hjälp av metoder som utvecklats för kappsäcksproblem. Förfarandet tillämpas även på helt nya skyddsproblem i samband med så kallade amerikanska optioner.

Pain symptoms and sleep problems among school-aged children. Long-term prevalence changes, and pain symptoms as predictors of later mental health

Children’s pain symptoms and sleep problems are among the most common health complaints. They distract children from activities, decrease the quality of life, contribute to a significant economic burden, and have shown continuity into adulthood. The main aims of this thesis were to investigate long-term changes in the prevalence of pain symptoms and sleep problems among Finnish school-aged children, and the later mental health of those who in childhood experience pain. Prevalence, co-occurrence, and associated psychosocial factors of pain symptoms and sleep problems were also assessed. In study I, prevalence changes in eight-year-old children’s pain symptoms and sleep problems were investigated in three cross-sectional population-based samples (years 1989: n=1038, 1999: n=1035, and 2005: n=1030). In study II, cross-sectional associations between pain symptoms, sleep problems, and psychosocial factors were assessed among 13-18-year-old adolescents (n=2476). In studies III and IV, associations between pain symptoms at age eight (n=6017), and register-based data on antidepressant use and severe suicidality by age 24, were examined in a nationwide birth cohort. Pain symptoms and sleep problems were common and often co-occurred. A considerable number of children’s pain symptoms remained unrecognized by the parents. The prevalence of pain symptoms, sleep problems, and multiple concurrent symptoms approximately doubled from 1989 to 2005. Psychiatric difficulties or demographic factors did not explain the increase. Psychosocial factors that were associated with pain, sleep problems, and a higher number of symptoms, were female sex, psychological difficulties, emotional symptoms, smoking, victimization, and feeling not cared about by teachers. In longitudinal analyses, the child’s own report of headache, and to a smaller degree the parental report of the child’s abdominal pain predicted later antidepressant use. Parental report of the child’s abdominal pain predicted severe suicidality among males. If one of the symptoms is present, health care professionals should inquire about other symptoms as well. Questions should be directed to the children, not only to their parents. Inquiring about psychiatric difficulties, substance use, victimization, and relations with teachers should be included as a part of the assessment. Further studies are needed to clarify the reasons that underlie the increased prevalence rates, and the factors that may increase or decrease the risk for later mental health problems among pain-suffering children.

Multidata inverse problems and Bayesian solution methods in astronomy

Statistical analyses of measurements that can be described by statistical models are of essence in astronomy and in scientific inquiry in general. The sensitivity of such analyses, modelling approaches, and the consequent predictions, is sometimes highly dependent on the exact techniques applied, and improvements therein can result in significantly better understanding of the observed system of interest. Particularly, optimising the sensitivity of statistical techniques in detecting the faint signatures of low-mass planets orbiting the nearby stars is, together with improvements in instrumentation, essential in estimating the properties of the population of such planets, and in the race to detect Earth-analogs, i.e. planets that could support liquid water and, perhaps, life on their surfaces. We review the developments in Bayesian statistical techniques applicable to detections planets orbiting nearby stars and astronomical data analysis problems in general. We also discuss these techniques and demonstrate their usefulness by using various examples and detailed descriptions of the respective mathematics involved. We demonstrate the practical aspects of Bayesian statistical techniques by describing several algorithms and numerical techniques, as well as theoretical constructions, in the estimation of model parameters and in hypothesis testing. We also apply these algorithms to Doppler measurements of nearby stars to show how they can be used in practice to obtain as much information from the noisy data as possible. Bayesian statistical techniques are powerful tools in analysing and interpreting noisy data and should be preferred in practice whenever computational limitations are not too restrictive.

Be-Fe coupled method for the analysis of 3D elastodynamic problems in the time domain

By coupling the Boundary Element Method (BEM) and the Finite Element Method (FEM) an algorithm that combines the advantages of both numerical processes is developed. The main aim of the work concerns the time domain analysis of general three-dimensional wave propagation problems in elastic media. In addition, mathematical and numerical aspects of the related BE-, FE- and BE/FE-formulations are discussed. The coupling algorithm allows investigations of elastodynamic problems with a BE- and a FE-subdomain. In order to observe the performance of the coupling algorithm two problems are solved and their results compared to other numerical solutions.

An alternative finite element formulation for determination of streamlines in two-dimensional problems

It is well known that the numerical solutions of incompressible viscous flows are of great importance in Fluid Dynamics. The graphics output capabilities of their computational codes have revolutionized the communication of ideas to the non-specialist public. In general those codes include, in their hydrodynamic features, the visualization of flow streamlines - essentially a form of contour plot showing the line patterns of the flow - and the magnitudes and orientations of their velocity vectors. However, the standard finite element formulation to compute streamlines suffers from the disadvantage of requiring the determination of boundary integrals, leading to cumbersome implementations at the construction of the finite element code. In this article, we introduce an efficient way - via an alternative variational formulation - to determine the streamlines for fluid flows, which does not need the computation of contour integrals. In order to illustrate the good performance of the alternative formulation proposed, we capture the streamlines of three viscous models: Stokes, Navier-Stokes and Viscoelastic flows.

Solution of aerospace problems using structured and unstructured strategies

Products developed at industries, institutes and research centers are expected to have high level of quality and performance, having a minimum waste, which require efficient and robust tools to numerically simulate stringent project conditions with great reliability. In this context, Computational Fluid Dynamics (CFD) plays an important role and the present work shows two numerical algorithms that are used in the CFD community to solve the Euler and Navier-Stokes equations applied to typical aerospace and aeronautical problems. Particularly, unstructured discretization of the spatial domain has gained special attention by the international community due to its ease in discretizing complex spatial domains. This work has the main objective of illustrating some advantages and disadvantages of numerical algorithms using structured and unstructured spatial discretization of the flow governing equations. Numerical methods include a finite volume formulation and the Euler and Navier-Stokes equations are applied to solve a transonic nozzle problem, a low supersonic airfoil problem and a hypersonic inlet problem. In a structured context, these problems are solved using MacCormack’s implicit algorithm with Steger and Warming’s flux vector splitting technique, while, in an unstructured context, Jameson and Mavriplis’ explicit algorithm is used. Convergence acceleration is obtained using a spatially variable time stepping procedure.

Heat Source Estimation with the Conjugate Gradient Method in Inverse Linear Diffusive Problems

In this work, we present the solution of a class of linear inverse heat conduction problems for the estimation of unknown heat source terms, with no prior information of the functional forms of timewise and spatial dependence of the source strength, using the conjugate gradient method with an adjoint problem. After describing the mathematical formulation of a general direct problem and the procedure for the solution of the inverse problem, we show applications to three transient heat transfer problems: a one-dimensional cylindrical problem; a two-dimensional cylindrical problem; and a one-dimensional problem with two plates.

Simulation of Steady-State Nonlinear Heat Transfer Problems Through the Minimization of Quadratic Functionals

In this work it is presented a systematic procedure for constructing the solution of a large class of nonlinear conduction heat transfer problems through the minimization of quadratic functionals like the ones usually employed for linear descriptions. The proposed procedure gives rise to an efficient and easy way for carrying out numerical simulations of nonlinear heat transfer problems by means of finite elements. To illustrate the procedure a particular problem is simulated by means of a finite element approximation.

Extremfall, stjärnelever och verktygsskramlare : en diskursanalytisk studie av lärares tal om studerande som behöver särskilt stöd

The groups within Finnish vocational upper secondary education and training (VET) are often heterogeneous with respect to the student's need for support in their studies. According to the national core curricula, Special Education Needs (SEN) students should in the first place, get their education in the same group as everyone else. This dissertation aims to clarify and create an understanding about how the ideals and intention of equality in education is constructed in communication among teachers in VET in the Swedish-speaking parts of Finland. Through this understanding it should be possible to highlight a potential which could ultimately contribute to a positive development of a more inclusive education within VET. The epistemological platform of the study is to be found within the post structuralist philosophy of language that is considered as subsumed in a social constructionist thinking. The data has been collected through focus group discussions in groups of 3–6 participants (teachers) in seven schools in Finnish-Swedish VET. The analyses are based on a discursive psychological analysis combined with an analysis based on Michel Foucault's concepts with an emphasis on the subject, government and power. Four discourser where identified in the analysis of teachers' constructions of the educational assignment in relation to SEN students. The most dominant was discussing the educational assignment as a pragmatic project i.e. as a matter of transmission of knowledge. The discourse included both interpretative repertoires where the heterogeneous group was constructed as self-evident and possible to manage as well as a constructed as an impossible project. The educational assignment was also constructed as a holistic project, as part of a democratic project, and as a labor market project. Each discourse contains both including as well as excluding features in relation to SEN students. The development of an inclusive practice can and should therefore include elements from all of them. Three discourses were identified in the analysis concerning teachers' versions of SEN students: students with difficulties and problems; students who do not use or do not have ability and students who are irresponsible and lack the will to study. Within the various discourses and interpretative repertoires were both constructs when teachers described a concern and kindness in relation to the individual SEN student and constructions where teachers mainly expressed fears that other students in the group would be negatively affected by students in need of special support. Results from the third research question conclude the results from the two others, the analysis is done out of a government perspective. In the material use of different government techniques are identified: disciplinary power through direct reprimands; pastoral power by a desire of insight in order to promote the opportunities for consultation and the use of bio-power that primarily focuses on what is best for the population and whose tool racism results in a legitimation of the exclusion of SEN students. The conclusion is that teachers in VET need to pay attention to inclusive and exclusive elements identified in various discourses.

The adjustment from Russia to Finland for corporate repatriates: How the repatriation experience influences readjustment in the workplace

To manage foreign operations, companies must often send their employees on international assignments. Repatriating these expatriates can be difficult because they have been forgotten during their posting, and their new experiences are not utilised. In addition to the possible difficulties in organisational repatriation, the returnee can suffer from readjustment problems after a lengthy stay abroad has changed their habits and even identity. This thesis examines the repatriation experience of Finnish assignees returning from Russia. The purpose of the study is to understand how the repatriation experience influences their readjustment to work in Finland. This experience is influenced by many factors including personal and situational changes, the repatriation process, job and organisational factors, and individual’s motives. The theoretical background of the study is founded on two models of repatriation adjustment. A refined, holistic theoretical framework for the study is created. It describes the formation of the repatriation experience and its importance for readjustment to work and retention. The qualitative research approach is suitable for the thesis which examines the returnees’ personal experiences and feelings: a qualitative case study aims to explain the phenomenon in-depth and comprehensively. The data was collected in summer 2013 through semi-standardised interviews with eight Finnish repatriates. They had returned from Russia within the last two years. The data was analysed by structuring the interview transcripts using template analysis. The results supported earlier literature and suggest that the re-entry remains a challenging phase for both the individual and the company. For some, adjusting to a new job was difficult for various reasons. The repatriates underwent personal change and development and felt it was for the better. Many repatriates criticised the company’s repatriation process upon return. Finding a suitable return job was not clear. Instead, the returnees had to be active in finding a new position. Many assignees had only modest career-related motives regarding the assignment and they had realistic expectations about the return. Therefore they were not extremely surprised or dissatisfied when they were not actively offered positions or support by the company. The significance of motives stood out even more than the theory predicted. As predicted, they are linked to the expectations of employees. Moreover, if the employees are motivated to remain in the company, they can tolerate partly a negative repatriation experience. Despite the complexity of the return and readjustment, the assignment as a whole was seen as a rewarding experience by all participants.

Some reformulations for the quadratic assignment problem

Kombinatorisk optimering handlar om att hitta en bra eller rent av den bästa möjliga lösningen från ett känt antal lösningar eller kombinationer. Ofta är antalet lösningar så enormt att en genomgång av alla olika lösningar inte är möjlig. En av huvudorsakerna till att det forskas inom kombinatorisk optimering är att liknande frågeställningar eller problem uppkommer inom så många olika områden. Påståendet stämmer speciellt bra för kvadratiska tilldelningsproblem(eng. Quadratic Assignment Problem). Sådana problem uppstår då man försöker beskriva en stor mängd tillämpade frågeställningar. Vilken gate skall väljas för flygen på större flygplatser för att minimera den totala väg människorna behöver gå och bagaget förflyttas? Var skall olika avdelningar på en fabrik placeras för att minimera materialförflyttningar mellan avdelningarna? Hur ser ett optimalt tangentbord ut för olika språk? Var skall komponenterna placeras på ett kretskort? De här är alla frågor som kan besvaras genom att lösa kvadratiska tilldelningsproblem. Kvadratiska tilldelningsproblem är dock mycket svåra att lösa. Det beror på att problemet i den standardform det matematiskt formuleras i huvudsak består av produkter av binära variabler. I denna avhandling har problemet omformulerats till en linjär diskret form som innehåller färre variabler. Med omformuleringen har bland annat flera tidigare olösta kvadratiska tilldelningsproblem kunnat lösas till globalt optimum, den bästa möjliga lösningen, för första gången någonsin.

Business intelligence viewpoint on managerial decision-making : Ill-structured problems and decision support systems

Vaikka liiketoimintatiedon hallintaa sekä johdon päätöksentekoa on tutkittu laajasti, näiden kahden käsitteen yhteisvaikutuksesta on olemassa hyvin rajallinen määrä tutkimustietoa. Tulevaisuudessa aiheen tärkeys korostuu, sillä olemassa olevan datan määrä kasvaa jatkuvasti. Yritykset tarvitsevat jatkossa yhä enemmän kyvykkyyksiä sekä resursseja, jotta sekä strukturoitua että strukturoimatonta tietoa voidaan hyödyntää lähteestä riippumatta. Nykyiset Business Intelligence -ratkaisut mahdollistavat tehokkaan liiketoimintatiedon hallinnan osana johdon päätöksentekoa. Aiemman kirjallisuuden pohjalta, tutkimuksen empiirinen osuus tunnistaa liiketoimintatiedon hyödyntämiseen liittyviä tekijöitä, jotka joko tukevat tai rajoittavat johdon päätöksentekoprosessia. Tutkimuksen teoreettinen osuus johdattaa lukijan tutkimusaiheeseen kirjallisuuskatsauksen avulla. Keskeisimmät tutkimukseen liittyvät käsitteet, kuten Business Intelligence ja johdon päätöksenteko, esitetään relevantin kirjallisuuden avulla – tämän lisäksi myös dataan liittyvät käsitteet analysoidaan tarkasti. Tutkimuksen empiirinen osuus rakentuu tutkimusteorian pohjalta. Tutkimuksen empiirisessä osuudessa paneudutaan tutkimusteemoihin käytännön esimerkein: kolmen tapaustutkimuksen avulla tutkitaan sekä kuvataan toisistaan irrallisia tapauksia. Jokainen tapaus kuvataan sekä analysoidaan teoriaan perustuvien väitteiden avulla – nämä väitteet ovat perusedellytyksiä menestyksekkäälle liiketoimintatiedon hyödyntämiseen perustuvalle päätöksenteolle. Tapaustutkimusten avulla alkuperäistä tutkimusongelmaa voidaan analysoida tarkasti huomioiden jo olemassa oleva tutkimustieto. Analyysin tulosten avulla myös yksittäisiä rajoitteita sekä mahdollistavia tekijöitä voidaan analysoida. Tulokset osoittavat, että rajoitteilla on vahvasti negatiivinen vaikutus päätöksentekoprosessin onnistumiseen. Toisaalta yritysjohto on tietoinen liiketoimintatiedon hallintaan liittyvistä positiivisista seurauksista, vaikka kaikkia mahdollisuuksia ei olisikaan hyödynnetty. Tutkimuksen merkittävin tulos esittelee viitekehyksen, jonka puitteissa johdon päätöksentekoprosesseja voidaan arvioida sekä analysoida. Despite the fact that the literature on Business Intelligence and managerial decision-making is extensive, relatively little effort has been made to research the relationship between them. This particular field of study has become important since the amount of data in the world is growing every second. Companies require capabilities and resources in order to utilize structured data and unstructured data from internal and external data sources. However, the present Business Intelligence technologies enable managers to utilize data effectively in decision-making. Based on the prior literature, the empirical part of the thesis identifies the enablers and constraints in computer-aided managerial decision-making process. In this thesis, the theoretical part provides a preliminary understanding about the research area through a literature review. The key concepts such as Business Intelligence and managerial decision-making are explored by reviewing the relevant literature. Additionally, different data sources as well as data forms are analyzed in further detail. All key concepts are taken into account when the empirical part is carried out. The empirical part obtains an understanding of the real world situation when it comes to the themes that were covered in the theoretical part. Three selected case companies are analyzed through those statements, which are considered as critical prerequisites for successful computer-aided managerial decision-making. The case study analysis, which is a part of the empirical part, enables the researcher to examine the relationship between Business Intelligence and managerial decision-making. Based on the findings of the case study analysis, the researcher identifies the enablers and constraints through the case study interviews. The findings indicate that the constraints have a highly negative influence on the decision-making process. In addition, the managers are aware of the positive implications that Business Intelligence has for decision-making, but all possibilities are not yet utilized. As a main result of this study, a data-driven framework for managerial decision-making is introduced. This framework can be used when the managerial decision-making processes are evaluated and analyzed.