Large sets of Hamilton cycle and path decompositions

The existence spectrums for large sets of Hamilton cycle decompositions and Hamilton path decompositions are completed. Also, we show that the completion of large sets of directed Hamilton cycle decompositions and directed Hamilton path decompositions depends on the existence of certain special tuscan squares. Several conjectures about special tuscan squares are posed.     

A degree sum condition for long cycles passing through a linear forest

Let G be a (k+m)-connected graph and F be a linear forest in G such that |E(F)|=m and F has at most k-2 components of order 1, where k?2 and m?0. In this paper, we prove that if every independent set S of G with |S|=k+1 contains two vertices whose degree sum is at least d, then G has a cycle C of length at least min{d-m,|V(G)|} which contains all the vertices and edges of F.     

Contractible subgraphs, Thomassen’s conjecture and the dominating cycle conjecture for snarks

We show that the conjectures by Matthews and Sumner (every 4-connected claw-free graph is Hamiltonian), by Thomassen (every 4-connected line graph is Hamiltonian) and by Fleischner (every cyclically 4-edge-connected cubic graph has either a 3-edge-coloring or a dominating cycle), which are known to be equivalent, are equivalent to the statement that every snark (i.e. a cyclically 4-edge-connected cubic graph of girth at least five that is not 3-edge-colorable) has a dominating cycle.We use a refinement of the contractibility technique which was introduced by Ryjá?ek and Schelp in 2003 as a common generalization and strengthening of the reduction techniques by Catlin and Veldman and of the closure concept introduced by Ryjá?ek in 1997.     

A NEW ANALYZING APPROACH TO MODELING SLOTTED MULTIPLE ACCESS SYSTEMS

In this paper, the analyzing approaches proposed by Zhao Dongfeng, et al.(1997) have been extensively studied. The average cyclic times of the slotted multiple access systems are analyzed by using the average cycle method. Analytic formulae for mean values of a successful period and a colliding period and an idle period are derived. The upper bounds of the system throughput with capture effect and collision resolution are provided. Finally, the simulation results of the slotted multiple access channels are given.     

Regret aversion and annuity risk in defined contribution pension plans

The high value of the implicit option to choose a retirement date at which interest rates are particularly high and life annuities relatively cheap, leads to the possibility to introduce regret aversion in the retirement investment decision of defined contribution plan participants. As a remedy for regret aversion in retirement investment decisions, this paper develops and prices a lookback option on a life annuity contract. We determine a closed-form option value under the restriction that the option holder invests risklessly during the time to maturity of the option and without the guarantee that the exact amount of retirement wealth is converted into a life annuity at retirement. Thereafter the investment restriction is relaxed and the guarantee of exact conversion is imposed and the option is priced via Monte Carlo simulations in an economic environment with a stochastic discount factor. Option price sensitivities are determined via the pricing of alternative options. We find that the price of a lookback option, with a maturity of three years, amounts to 8%–9% of the wealth at the option issuance date. The option price is highly sensitive to the exercise price of the option, i.e. pricing alternative options (e.g. Asian) substantially lowers the price. Time to maturity and interest rate volatility are other important option price drivers. Asset allocation decisions and initial interest rates hardly affect the option price.     

Extremal k-edge-hamiltonian hypergraphs

An r-uniform hypergraph is k-edge-hamiltonian iff it still contains a hamiltonian-chain after deleting any k edges of the hypergraph. What is the minimum number of edges in such a hypergraph? We give lower and upper bounds for this question for several values of r and k.     

Prism‐hamiltonicity of triangulations

The prism over a graph G is the Cartesian product G □ K₂ of G with the complete graph K₂. If the prism over G is hamiltonian, we say that G is prism‐hamiltonian. We prove that triangulations of the plane, projective plane, torus, and Klein bottle are prism‐hamiltonian. We additionally show that every 4‐connected triangulation of a surface with sufficiently large representativity is prism‐hamiltonian, and that every 3‐connected planar bipartite graph is prism‐hamiltonian. © 2007 Wiley Periodicals, Inc. J Graph Theory 57: 181–197, 2008     

Evaluation of insurance products with guarantee in incomplete markets

Life insurance products are usually equipped with minimum guarantee and bonus provision options. The pricing of such claims is of vital importance for the insurance industry. Risk management, strategic asset allocation, and product design depend on the correct evaluation of the written options. Also regulators are interested in such issues since they have to be aware of the possible scenarios that the overall industry will face. Pricing techniques based on the Black & Scholes paradigm are often used, however, the hypotheses underneath this model are rarely met.To overcome Black & Scholes limitations, we develop a stochastic programming model to determine the fair price of the minimum guarantee and bonus provision options. We show that such a model covers the most relevant sources of incompleteness accounted in the financial and insurance literature. We provide extensive empirical analyses to highlight the effect of incompleteness on the fair value of the option, and show how the whole framework can be used as a valuable normative tool for insurance companies and regulators.     

Optimal batch sizing in a multi-stage production system with rework consideration

In a production system, rework process plays an important role in eliminating waste and effectively controlling the cost of manufacturing. Determining the optimal batch size in a system that allows for rework is, therefore, a worthwhile objective to minimize the inventory cost of work-in-processes and the finished goods. In this paper, models for the optimum batch quantity in a multi-stage system with rework process have been developed for two different operational policies. Policy 1 deals with the rework within the same cycle with no shortage and policy 2 deals with the rework done after N cycles, incurring shortages in each cycle. The major components that play a role in minimizing this cost of the system are manufacturing setups, work-in-processes, storage of finished goods, rework processing, waiting-time, and penalty costs to discourage the generation of defectives. The mathematical structure of this rework processing model falls under a nonlinear convex programming problems for which a closed-form solution has been proposed and results are demonstrated through numerical examples, followed by sensitivity analyses of different important parameters. It is concluded that the total cost in policy 2 tends to be smaller than that in policy 1 at lower proportion of defectives if the in-process carrying cost is low. Policy 2 may be preferred when the work-in-process carrying cost is low and the penalty cost is negligible.