The Great Carbon Arbitrage

An Outbreak of Carbon Monoxide Poisoning in Yamagata Prefecture Following the Great East Japan Earthquake

Background: In the aftermath of the Great East Japan Earthquake, most of the areas in Yamagata prefecture experienced a serious power failure lasting for approximately 24 hours. A number of households were subsequently poisoned with carbon monoxide (CO) due to various causes. In this study, we conducted a survey of CO poisoning during the disaster. Methods: A questionnaire regarding CO poisonin...

Arbitrage and the Tax Code * Arbitrage and the Tax Code

We study the no arbitrage characterization of asset prices in the presence of capital gains and income taxes. The distinguishing feature of our analysis is that we impose on the model two important features of the tax code that have received little attention in the academic literature: the limited use of capital losses and the inability to wash sell. We show that under remarkably mild condition...

Carbon in the Peatlands in the Great Lakes Region

.......................................................................................................................... 1 Chapter 1 . Thesis Introduction ........................................................................................... 2 Tables .............................................................................................................................. 6 Chapter 2 ...

From arbitrage to arbitrage-free implied volatilities

We propose a method for determining an arbitrage-free density implied by the Hagan formula. (We use the wording “Hagan formula” as an abbreviation of the Hagan– Kumar–Leśniewski–Woodward model.) Our method is based on the stochastic collocation method. The principle is to determine a few collocation points on the implied survival distribution function and project them onto the polynomial of an ...

The Arbitrage Theorem