A new proposition on the martingale representation theorem and on the approximate hedging of contingent claim in mean-variance criterion

In this work we revisit the problem of the hedging of contingent claim using mean-square criterion. We prove that in incomplete market, some probability measure can be identified so that becomes -martingale under .This is in fact a new proposition on the martingale representation theorem. The new results also identify a weight function that serves to be an approximation to the Radon-Nikodým derivative of the unique neutral martingale measure.

SCUBA imaging of high mass star formation regions

We present 450 and 850 mu m images of five ultracompact HII regions (G10.47, G12.21, G13.87, G31.41 and G43.89) taken at 9

A survey of molecular line emission towards ultracompact HII regions

We have used the JCMT to survey molecular line emission towards 14 ultracompact HII regions (G5.89, G9.62, G10.30, G10.47, G12.21, G13.87, G29.96, G31.41, G34.26, G43.89, G45.12, G45.45, G45.47, and G75.78). For each source, we observed up to ten 1 GHz bands between 200 and 350 GHz, covering lines of more than 30 species including multiple transitions of CO isotopes, CH3OH, CH3CCH, CH3CN and HCOOCH3, and sulphuretted molecules. The number of transitions detected varied by a factor of 20 between sources; which were chosen following observations of high-excitation ammonia (Cesaroni et al. 1994a) and methyl cyanide (Olmi et al. 1993). In half our sample (the line-poor sources), only (CO)-O-17: (CO)-O-18, SO, (CS)-S-34 and CH3OH were detected. In the line-rich sources, we detected over 150 lines, including high excitation lines of CH3CN, HCOOCH3; C2H5CN, CH3OH, and CH3CCH. We have calculated the physical conditions of the molecular gas. To reproduce the emission from the line-rich sources requires both a hot, dense compact core and an ambient cloud consisting of less dense, cooler gas. The hot cores, which are less than 0.1 pc in size; reach densities of at least 10(8) cm(-3) and temperatures of more than 80 K. The line-poor sources can be modelled without a hot core by a 20-30 K, 10(5) cm(-3) cloud. We find no correlation between the size of the HII region and the current physical conditions in the molecular environment. A comparison with chemical models (Millar et al. 1997) confirms that grain surface chemistry is important in hot cores.

Conflict of Interest Policies at Canadian Universities: Clarity and Content

Abstract Discussions of conflict of interest (COI) in the university have tended to focus on financial interests in the context of medical research; much less attention has been given to COI in general or to the policies that seek to manage COI. Are university COI policies accessible and understandable? To whom are these policies addressed (faculty, staff, students)? Is COI clearly defined in these policies and are procedures laid out for avoiding or remedying such situations? To begin tackling these important ethical and governance questions, our study examines the COI policies at the Group of Thirteen (G13) leading Canadian research universities. Using automated readability analysis tools and an ethical content analysis, we begin the task of comparing the strengths and weaknesses of these documents, paying particular attention to their clarity, readability, and utility in explaining and managing COI.

Forecasting stock index volatility : comparing implied volatility and the intraday high-low price range

The intraday high–low price range offers volatility forecasts similarly efficient to high-quality implied volatility indexes published by the Chicago Board Options Exchange (CBOE) for four stock market indexes: S&P 500, S&P 100, NASDAQ 100, and Dow Jones Industrials. Examination of in-sample and out-of-sample volatility forecasts reveals that neither implied volatility nor intraday high–low range volatility consistently outperforms the other.

Estimating Forward Pricing Function: How Efficient is Indian Stock Index Futures Market?

This paper uses Indian stock futures data to explore unbiased expectations and efficient market hypothesis. Having experienced voluminous transactions within a short time span after its establishment, the Indian stock futures market provides an unparalleled case for exploring these issues involving expectation and efficiency. Besides analyzing market efficiency between cash and futures prices using cointegration and error correction frameworks, the efficiency hypothesis is also investigated after explicitly modeling the underlying state of the market (expansion or contraction) through the first-order Markov switching set-up. The results based on Markov switching analysis show that relatively longer time horizon is more effective in eliminating arbitrage opportunities than the short run.

Effect of the chronological age and sexual maturation on the time to exhaustion at maximal aerobic speed

The purposes of this study were: a) to verify the effect of chronological age and sexual maturation on the time to exhaustion at VO(2)max (t(lim)) and; b) to examine the reproducibility of t(lim) in boys aged 10-15 years. Forty boys, divided into 4 groups, in accordance to the chronological age (G10-12 and G13-15) and sexual maturation (P1-P3 and P4-P5 levels for pubic hair), performed the following tests: 1) incremental test for determination of VO(2)max and; 2) all-out exercise bout performed at VO(2)max to determine the t(lim). There was no difference of t(lim) (sec) between G10-12 and G13-15 (181.5 +/- 96.3 vs. 199 105.5). While the two measures of t(lim) were moderately related (r = 0.78), t(lim) from the second test (226.6 +/- 96.1 s) was higher than that of the first (191.3 +/- 79.2 s). We can conclude that the t(lim) is not influenced by chronological age and sexual maturation. Besides, t(lim) presents a lower reproducibility in children and adolescents.

Critical speed and endurance capacity in young swimmers: Effects of gender and age

This study analyzed the relationship between critical speed (CS) and maximal speed for 30 min (S30) in swimmers of ages 10-15 years. Fifty-one swimmers were divided by chronological age (10-12 years = G10-12, 13-15 years = G13-15), sexual maturation (pubic hair stages; P1-P3 and P4-P5), and gender (M = boys, F = girls). The CS was determined through the slope of the linear regression between the distances (100, 200, and 400 m) and participants' respective times. CS and S30 were similar in the younger (G10-12M = 0.97 vs. 0.97 m/s, and G10-12F = 1.01 vs. 0.97 m/s, respectively), and older swimmers (G13-15M = 1.10 vs. 1.07 m/s and G13-15F = 0.93 vs. 0.91 m/s, respectively). In conclusion, the CS can be used in young swimmers for the evaluation of aerobic capacity, independent of gender and age. © 2005 Human Kinetics, Inc.

Prevenção da contaminação cruzada em odontologia por meio de terapia fotodinâmica (TFD) utilizando LED azul e curcumina

Pós-graduação em Odontologia - FOAR

Clareamento dental com perôxido de hidrogênio contendo nano partículas de óxido de titânio como semicondutor: efeito de concentrações, tempos e formas de ativação

Pós-graduação em Ciências Odontológicas - FOAR

Market efficiency of commodity futures in India

This paper aims to examine the market efficiency of the commodity futures market in India, which has been growing phenomenally for the last few years. We estimate the long-run equilibrium relationship between the multi-commodity futures and spot prices and then test for market efficiency in a weak form sense by applying both the DOLS and the FMOLS methods. The entire sample period is from 2 January 2006 to 31 March 2011. The results indicate that a cointegrating relationship is found between these indices and that the commodity futures market seems to be efficient only during the more recent sub-sample period since July 2009.