Gupta and Livne (1988) modified Nash’s (1950) original bargaining problem through the introduction of a reference point restricted to lie in the bargaining set. Additionally, they characterized a solution concept for this augmented bargaining problem. We propose and axiomatically characterize a new solution concept for bargaining problems with a reference point: The Tempered Aspirations solutio...

We give a complete and self-contained proof of the existence of a strong solution to the free boundary and optimal stopping problems for pricing American path-dependent options. The framework is sufficiently general to include geometric Asian options with nonconstant volatility and recent path-dependent volatility models.

This paper reexamines the relationship between innation, innation volatility and growth using crosscountry panel data for the past 30 years. With regard to the level of innation, we nd that in contrast to current ndings which are based on cross-sectional time-average regression comparisons, exploiting the time dimension of the data reveals a strong negative correlation between innation and inco...

Two experimental high strength steel weld metals were produced with 7 wt. % nickel and manganese at 2 or 0.5 wt. %. Neural network predictions that Mn reductions increase toughness were confirmed with impact energy increasing from 32 to 113 J at –40 °C. High resolution microstructural investigations showed that both weld metals contained mainly martensite at interdendritic regions and predomina...

Since the introduction of volatility derivatives, there has been growing interest in option implied volatility (IV). Many studies have examined informational content, and or forecast accuracy of IV, however there is relatively less work on directly modeling and forecasting IV. This paper uses a semi-parametric forecasting approaching to implement a time varying long volatility hedge to combine ...

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Various types of Coronaviruses are enveloped RNA viruses from the Corona-viridae family and part of the Coronavirinae subfamily. This family of viruses affects neurological, gastrointestinal, hepatic, and respiratory systems. Recently, a new memb-er of this family, named Covid-19, is moving around the world. The expansion of Covid-19 carries many risks, and its control requires strict planning ...

The Chilean mammal fauna is one of the best known South America. In spite this, in last decade several new species have been described based on specimens collected country, while other previously elsewhere recorded for first time Chile. Here we keep this trend by recording Chile a long-tailed mouse genus Oligoryzomys. This mention genetic (cytochrome b gene sequences) and morphological data gat...

The chromosome complement of Chiropodomys gliroides from Peninsular Malaysia consists of two pairs of nucleolar organizer regions (NORs) – the longest acrocentric pair and the small metacentric. The NORs in both pairs are located at the terminal end; in the long acrocentric at the end of the long arm. In the metaphases, at least one element in both pairs exhibited the presence of Ag-NOR activit...