Hedging Entry and Exit Decisions: Activating and Deactivating Barrier Options

Investment projects and businesses can be entered or exited at a cost, and the theory of real option teaches us how to find optimal activity levels that should trigger entry or exit. However, in practice, different managers or owners operate under different constraints and might apply different thresholds to the same business. We are interested in the hedging of the risk related to the cost of sub-optimal entry or exit. We introduce a new class of derivative products that can hedge this risk. The pricing of these derivatives involves the joint law of a Brownian excursion and its supremum, which is calculated thanks to Bessel processes-related distribution laws.     

On S-Normal Spaces and Pre GS-Closed Functions

In this paper the notion of pre gs-closed functions is introduced and investigated. Presemiclosed functions are pre gs-closed but not conversely. It is shown that s-normality is preserved under continuous pre gs-closed surjections.     

Laser spectroscopy of the 1s HFS of H-like ions at a bunched beam in the storage ring ESR

The investigation of the 1s HFS provides a good possibility for testing QED effects in a combination of a strong electric and magnetic field. Here, we report about the laserspectroscopic measurements of the ground state hyperfine splitting in ²⁰⁷Pb⁸¹⁺. To handle this M1-transition in the infrared optical regime with its long lifetime, we developed a new detection technique using a bunched ion beam. For the observation of fluorescence light, a new mirror system is adapted to the emission characteristics from an ion beam at relativistic velocities. This revised version was published online in July 2006 with corrections to the Cover Date.     

Spectra and Transport in Almost Periodic Dimers

We study spectral properties of discrete Schrödinger operators with potentials obtained via dimerization of a class of aperiodic sequences. It is shown that both the nature of the autocorrelation measure of a regular sequence and the presence of generic (full probability) singular continuous spectrum in the hull of primitive and palindromic (four block substitution) potentials are robust under dimerization. Generic results also hold for circle potentials. We illustrate these results with numerical studies of the quantum mean square displacement as a function of time. The numerical techniques provide a very fast algorithm for the time evolution of wave packets.     

Synthesis, structure, and antimetastatic activity of thetrans-[Pt(NC5H4C(O)NHC2H4ONO2)2Cl2] complex

Thetrans-[Pt(NC₅H₄C(O)NHC₂H₄ONO₂)₂Cl₂] complex (2) was prepared by the reaction of nicorandyl (N-nitroethoxynicotinamide), which is widely used in cardiology, with K₂PtCl₄ in water. The structure of2 was established by X-ray structural analysis. It was found that complex2 exhibits high antitumor activity, in particular, antimetastatic activity, unlike the analogous Cu^II complex with bromine atoms. Translated fromIzvestiya Akademii Nauk. Seriya Khimicheskaya, No. 9, pp. 1672–1675, September, 1997.