Abstract The project Rischio Implicito – Norme Tecniche per le Costruzioni (RINTC) assessed the seismic structural reliability, in terms of annual rate earthquakes causing failure, a large set code‐conforming buildings, designed to be located three different sites, representative low, mid, and high hazard Italy. It was found that reliability tends decrease significantly as site's increases, des...

Safety validation of changes to an individual organization’s local ATM system has become common practice in Europe. However, the SESAR program is planning changes in air traffic operations in Europe that go much further than changes to a local ATM system. This paper identifies the issues on which safety validation approaches need extensions, in order to move from safety validation of changes to...

Based on a loss network model, we present an adaptive source routing scheme for a large, hierarchicallyorganized network. To represent the “available” capacity of a peer group (subnetwork), we compute the average implied cost to go through or into the peer group. Such implied costs reflect the congestion in the peer group as well as the interdependencies among traffic streams in the network. We...

The market's risk neutral probability distribution for the value of an asset on a future date can be extracted from the prices of a set of options that mature on that date, but two key technical problems arise. In order to obtain a full well-behaved density, the option market prices must be smoothed and interpolated, and some way must be found to complete the tails beyond the range spanned by t...

Implied volatilities of interest rate derivatives present some distinctive features, like the inverse relation with the underlying rates and the humped or decreasing shape of their term structure. The objective of this paper is to analyze and explain such features in a Gaussian framework. We will use an approximate relation which separates in a simple and natural way the effects on the implied ...

The effects of drunk driving are a significant risk to public health and safety. Accordingly, the federal government and the states have enacted laws that permit law enforcement to identify offenders and to apply various levels of sanctions. There is no constitutional requirement that evidence of drunkenness be permitted in defense of criminal behavior. In practice, citizens who undertake to op...