A multi-stage financial hedging approach for the procurement of manufacturing materials

This paper addresses the problem of mitigating procurement risk that arises from volatile commodity prices by proposing a hedging strategy within a multi-stage time frame. The proposed multi-stage hedging strategy requires a commodity futures position to be correctly initialised and rebalanced with adequate volumes of short/long positions, so as to reduce the volatility in the total procurement cost that would otherwise be generated by varying commodity spot prices. The novelty in the approach is the introduction of the rebalancing of commodity futures position at defined intermediate stages. To obtain an efficient or near optimal multi-stage hedging strategy, a discrete-time stochastic control model (DSCM) is developed. Numerical experiments and Monte Carlo simulation are used to show that the proposed multi-stage hedging strategy compares favourably with the minimal-variance hedge and the one-stage hedge. A close-form optimal solution is also presented for the case when procurement volume and price are independent.     

Long-Period Gratings in Planar Optical Waveguides

Our progress in the study of long-period gratings (LPGs) in planar optical waveguides is reviewed. In particular,experimental LPGs in glass and polymer waveguides are presented to demonstrate the potential of LPG-based waveguide devices.     

Hilbert空间中非扩张映象的最近的公共不动点的逼近问题

本文在Hilbert空间的框架下,研究无限族非扩张映象T_1,T_2,…的迭代程序x_n+1=λ_(n+1)y+(1-λ_(n+1))T_(n+1)x_n的收敛性问题．在适当的条件下,证明了该迭代序列收敛于这一非扩张映象族的最近的公共不动点．其结果改进和推广了引文中相应的结果．     

Analysis of Corrugated Long-Period Gratings in Planar Waveguides and Their Polarization Dependence

We present a theoretical analysis of corrugated long-period gratings in planar waveguides. In particular, we calculate the transmission spectra for both the TE and TM polarizations and highlight the polarization-independence conditions.     

Algorithms of common solutions to quasi variational inclusion and fixed point problems

The purpose of this paper is to present an iterative scheme for finding a common element of the set of solutions to the variational inclusion problem with multivalued maximal monotone mapping and inverse-strongly monotone mappings and the set of fixed points of nonexpansive mappings in Hilbert space.Under suitable conditions, some strong convergence theorems for approximating this common elements are proved. The results presented in the paper not only improve and extend the main results in Korpelevich（Ekonomika i Matematicheskie Metody,1976,12（4）：747-756）,but also extend and replenish the corresponding results obtained by Iiduka and Takahashi（Nonlinear Anal TMA,2005,61（3）：341-350）,Takahashi and Toyoda（J Optim Theory Appl,2003, 118（2）：417-428）,Nadezhkina and Takahashi（J Optim Theory Appl,2006,128（1）：191- 201）,and Zeng and Yao（Taiwanese Journal of Mathematics,2006,10（5）：1293-1303）.     

ANALYSIS OF NANOBRIDGE TESTS

This paper analyzes nanobridge tests with consideration of adhesive contact deformation, which occurs between a probe tip and a tested nanobeam, and deformation of a substrate or template that supports the tested nanobeam.Analytical displacement-load relation, including adhesive contact deformation and substrate deformation, is presented here for small deformation of bending.The analytic results are confirmed by finite element analysis.If adhesive contact deformation and substrate deformation are not considered in the analysis of nanobridge test data, they might lead to lower values of Young＇s modulus of tested nanobeams.     

Perturbation analysis of finitely clad optical waveguides and couplers

In calculating the modal characteristics of a finitely clad optical waveguide, if the wavelength is much shorter than the core of the waveguide, then the cladding of the waveguide can be assumed to be infinite. On the other hand, if the wavelength is much longer than the core, the core can be ignored. These two approximations, although simple and accurate in the two respective extreme cases, do not provide adequate information in the transition region, where many tapered devices are operated. To overcome this a novel perturbation method is devised, in which these two approximations are combined in such a way that a result that is accurate in all cases can be obtained. Analytical expressions based on this method for describing the dispersion characteristics of finitely clad slab waveguides and circular step-index fibres are derived and compared with other conventional approximations. The combined use of this method and the coupled-mode theory for the analysis of optical couplers is also described.     

由数列定义的函数

We construct real valued functions from infinite sequences. We also consider some properties of such functions and null sequences.     

关于3连通图的容错直径和宽直径

容错直径和宽直径是度量网络可靠性和有效性的重要参数．对任意k连通图，它的容错直径Dk不超过宽直径dk,本证明：当D2=2时，d3≤max{D， l，2D3-2}；当D2≥3时，d3≤(D2-1)[2(D2-1)(D3-1)-D2-2] 1．