In the absence of frictions if a portfolio strategy replicates the payoff of one unit of a claim, an appropriately scaled strategy replicates any amount of the claim. If assets are priced by arbitrage, the value per-unit is invariant to the amount of the asset considered. In particular, in the case of American claims, the optimal exercise time is independent of the amount of the claim that is c...

Tires are perhaps the most important, but difficult to model, component of an automobile. In addition to supporting the vehicle and damping out road irregularities, the tires provide the longitudinal and lateral forces necessary to change the speed and direction of the vehicle. These forces are produced by the deformation of the tire where it contacts the road during acceleration, braking, and ...

While it is well accepted that cooperative spectrum sensing will significantly improve the sensing performance, the necessity of cooperation is not sufficiently appreciated. In this paper, by analyzing the spectrum sensing problem from the system perspective, we show that without cooperation, the performance will suffer from a fundamental tradeoff between reliability and efficiency. However, if...

Technology “demos” have become a staple in technology design practice, especially for showcasing prototypes or systems. However, demonstrations are also commonplace and multifaceted phenomena everyday life, thus found their way into empirical research of use. In spite presence HCI, methodical character as tool has so far received little attention our community. We analysed 102 video-recorded pe...