While abundant empirical studies support the long-range dependence (LRD) of mortality rates, corresponding impact on securities is largely unknown due to lack appropriate tractable models for valuation and risk management purposes. We propose a novel class Volterra that incorporate LRD into actuarial valuation, retain tractability, are consistent with existing continuous-time affine models. der...

Game-theoretic models provide a rigorous mathematical modelling framework, but tractability considerations keep them simple. In contrast, Evolutionary Simulation Models (ESMs) may be complex, but can lack rigour. We demonstrate that careful synthesis of the two techniques provides improved insights into the processes underlying the evolution of cooperative signalling systems.

The “standard” Brownian motion master equation, used to describe thermal damping, is not completely positive, and does not admit a Monte Carlo method, important in numerical simulations. To eliminate both these problems one must add a term that generates additional position diffusion. He we show that one can obtain a completely positive simple quantum Brownian motion, efficiently solvable, with...

We study the asymptotic behavior of compressible isentropic flow through porous medium with general L∞ initial data. The model system is the compressible Euler equation with frictional damping. As t → ∞, the density is conjectured to obey to the well-known porous medium equation and the momentum is expected to be formulated by Darcy’s law. Recent progress gives a definte answer to this conjectu...

This paper presents the first possible world semantics for concessive conditionals (i.e., even if A, C conditionals) constructed in a compositional way. First, the meaning of if is formalized through a semantics that builds on the proposal given by Stalnaker [1968]. A major difference from Stalnaker’s approach is that irrelevant conditionals (i.e., conditionals where the antecedent and the cons...