We consider a continuous-time setting, in which the agent can control both the drift and the volatility of the underlying process. The principal can observe the agent’s action and can offer payment at a continuous rate, as well as a bulk payment at the end of the fixed time horizon. In examples, we show that if the principal and the agent have the same CRRA utility, or they both have (possibly ...

We use the basic binomial option pricing method but allow someor all the parameters in the model to be uncertain and model this uncertaintyusing fuzzy numbers. We show that with the fuzzy model we can, with areasonably small number of steps, consider almost all possible future stockprices; whereas the crisp model can consider only n + 1 prices after n steps.

in nigeria, the government is implementing the free maternal and child health care programme (fmchcp). the policy is premised on the notion that financial barriers are one of the most important constraints to equitable access and use of skilled maternal and child healthcare. in ebonyi state, southeastern nigeria the fmchcp is experiencing implementation challenges including: inadequate human re...

This paper presents the COG-FPOM, a model based on the Fuzzy Pay-Off Method (FPOM). The FPOM is a scenario-based real option valuation method that uses fuzzy numbers as possibility distributions. The paper shows an unexpected result generated by the original FPOM, in which the real option would have a negative value. It further analyses its reasons and suggests a way to overcome it, by using th...

Introduction: Radical prostatectomy is an effective curative treatment option for organ-confined prostate cancer. There is a recent trend in offering curative treatment to patients with oligometastatic disease. More sensitive imaging modalities can identify oligometastatic disease that is not usually detected by conventional imaging techniques. Case presentation: We present a case in which a s...

Introduction: Radical prostatectomy is an effective curative treatment option for organ-confined prostate cancer. There is a recent trend in offering curative treatment to patients with oligometastatic disease. More sensitive imaging modalities can identify oligometastatic disease that is not usually detected by conventional imaging techniques. Case presentation: We present a case in which a s...

different areas of modern financial tools and processes activities contain the matters like innovations in financial tools engineering and risk management. derivatives and especially stock exchange option is part of this innovation. among all numerical procedures in calculating the value of derivatives and the risk sensitivity parameters of option, binomial models are widely used. in this stud...