Asymptotic Solutions for Australian Options with Low Volatility

Abstract

In this paper we derive asymptotic expansions for Australian options in the case of low volatility using the method of matched asymptotics. The expansion is performed on a volatility scaled parameter. We obtain a solution that is of up to the third order. In case that there is no drift in the underlying, the solution provided is in closed form, for a non-zero drift, all except one of the components of the solutions are in closed form. Additionally, we show that in some non-zero drift cases, the solution can be further simplified and in fact written in closed form as well. Numerical experiments show that the asymptotic solutions derived here are quite accurate for low volatility.     

Quantification of Flavonoids,Phenols and Antioxidant Potential from Dropped Citrus reticulata Blanco Fruits Influenced by Drying Techniques

Physiologically dropped immature Citrus reticulata Blanco fruits are regarded as waste and discarded in the citrus orchard but are a good source of bioactive compounds including flavonoids, antioxidants and total phenols. A study was undertaken to identify and quantify these bioactive compounds and to investigate the influence of different drying techniques, namely freeze drying and hot air oven drying, on flavonoids namely flavanone glycosides, antioxidant potential and total phenol content in immature dropped fruits of Citrus reticulata Blanco. Flavonoids were quantified in high-performance liquid chromatography (HPLC). The antioxidant activity were investigated with three assays azino-bis [3-ethylbenzthiazoline-6-sulfonic acid]) (ABTS), 2,2-diphenyl-1-picrylhydrazyl radical (DPPH), Ferric Reducing Ability of Plasma (FRAP) and total phenol content was determined. Freeze dried samples of 12 and 14 mm size retained maximum hesperidin flavonoid content (27.03% and 27.20%) as compared to the hot air dried samples (17.99%) and retained higher phenolic content ranged from 50.54–54.19 mg GAEL⁻¹. The antioxidant activity in freeze dried fruits was from 12.21–13.55 mM L⁻¹ Trolox and 15.27–16.72 mM L⁻¹ Trolox with ABTS, DPPH assay and FRAP values ranging from 7.31–9.07 mM L⁻¹ Trolox. Significant positive correlation was found between the flavonoid hesperidin with antioxidant assays and total phenolic content (TPC). The results showed that waste citrus fruits can act as potential source of bioflavonoids, especially hesperidin, and antioxidants for pharmaceutical as well as nutraceutical industry.     

Unusual nucleation and growth of γ′ iron nitride upon nitriding Fe–4.75 at.% Al alloy

The influence of substitutionally dissolved Al in ferritic Fe–4.75 at.% Al alloy on the nucleation and growth of γ′ iron nitride (Fe₄N_{1? x} ) was investigated upon nitriding in NH₃/H₂ gas mixtures. The nitrided specimens were characterised employing optical microscopy, scanning electron microscopy, transmission electron microscopy, electron probe microanalysis and X-ray diffraction. As compared to the nitriding of pure ferrite (α-Fe), where a layer of γ′ develops at the surface, upon nitriding ferritic Fe–4.75 at.% Al an unusual morphology of γ′ plates develops at the surface, which plates deeply penetrate the substrate. In the diffusion zone, nano-sized precipitates of γ′ and of metastable, cubic (NaCl-type) AlN occur, having, with the ferrite matrix, a Nishiyama–Wassermann orientation relationship and a Bain orientation relationship, respectively. The γ′ plates contain a high density of stacking faults and fine ε iron nitride (Fe₂N_{1? z} ) precipitates, although the formation of ε iron nitride is not expected for the employed nitriding parameters. On the basis of dedicated nitriding experiments it is shown that the unusual microstructural development is a consequence of the negligible solubility of Al in γ′ and the obstructed precipitation of the thermodynamically stable, hexagonal (wurtzite-type) AlN in ferrite.     

Removal of Brilliant Green from wastewater using conventional and ultrasonically prepared poly(acrylic acid) hydrogel loaded with kaolin clay: A comparative study

The present work deals with the removal of Brilliant Green dye from wastewater using a poly(acrylic acid) hydrogel composite (PAA-K hydrogel) prepared by incorporation of kaoline clay. The composite has been synthesized using ultrasound assisted polymerization process as well as the conventional process, with an objective of showing the better effectiveness of ultrasound assisted synthesis. It has been observed that the hydrogel prepared by ultrasound assisted polymerization process showed better results. The optimum conditions for the removal of dye are pH of 7, temperature of 35 °C, initial dye concentration of 30 mg/L and hydrogel loading of 1 g. The extent of removal of dye increased with an increase in the contact time and initial dye concentration. A pseudo-second-order kinetic model has been developed to explain the adsorption kinetics of dye on the PAA-K hydrogel. Thermodynamic and kinetic parameters indicate that the adsorption process is spontaneous in nature and the PAA-K hydrogel prepared by ultrasound process is a promising adsorbent compared to conventional process. The obtained adsorption data has also been fitted into commonly used adsorption isotherms and it has been found that Freundlich as well as Langmuir adsorption isotherm models fits well to the experimental results.     

Recent progress on the frontiers of polyoxometalates structures and applications

<正>Polyoxometalates (POMs), a class of discrete anionic metal oxides in groups Ⅴ and Ⅵ, are constructed via the condensation of metal oxide polyhedral (MO_x, M=W~(Ⅵ), Mo~(Ⅵ),V~Ⅴ, Nb, Ta, etc. and x=4–7) with each other in a corner-,edge-, or rarely in a face-sharing manner [1–3]. Up to now,the broadening family of POM derivatives ranges from small     

EAST ������ICRF ���ߵ���ά��ų�����

The performance of the four strap ion cyclotron range of frequency (ICRF) antenna in EAST was studied by three dimensional electromagnetic code CST MWS. The coupling impedance with various frequencies, the distribution of current on straps and the power spectra for the three types of phases were calculated. The voltage breakdown and ICRF-related impurity were also studied. Simulation results show that the coupling impedance and power spectrum of the antenna design were reasonable, however, highest electric field, which is 3.61MV•m⁻¹ for (0, 0, 0, 0) toroidal phasing at the local area, exceeds the empirical value of breakdown. After the structure size was optimized, the maximum of E-field was below the breakdown value, the results also show that the high radio frequency (RF) potential was close to the antenna limiter, the RF potential along total B-field in front of Faraday screens 10mm for (0, π, π, 0) phasing was one-third of that for (0, 0, π, π) phasing.     

Type II hybrid structures of TiO2 nanorods conjugated with CdS quantum dots: assembly and optical properties

We developed a novel method to assemble TiO₂ nanorods conjugated with CdS quantum dots by L-cysteine molecular linker for type II semiconducting hybrid structure. The XRD patterns indicate that the CdS quantum dots perform the cubic phase structure, and TEM images show that CdS quantum dots are well dispersed on the surfaces of anatase TiO₂ nanorods with little agglomeration. The UV-vis absorption spectra reveal the bandgap alignment in type II configuration between CdS QDs and TiO₂ nanorods.