We introduce a model for the evolution of emissions and price allowances in carbon market, such as European Union Emissions Trading System (EU ETS). The accounts multiple trading periods, or phases, with times at which compliance can occur. At end each period, participating firms must surrender their made during that additional be used following periods. show multiperiod allowance pricing probl...

In this paper a new credit risk model for credit derivatives is presented. The model is based upon the ‘Libor market’ modelling framework for default-free interest rates. We model effective default-free forward rates and effective forward credit spreads as lognormal diffusion processes, and recovery is modelled as a fraction of the par value of the defaulted claim. The newly introduced survival...

D-Form is a special piece-wise developable surface formed by aligning the boundaries of two planar domains. It has been widely used in different design scenarios. In this paper, we study how to computationally and intuitively model D-Forms. We present an optimisation-based framework that can efficiently generate shapes. Our D-Forms with approaches based on user inputs, including forward modelli...

The amplitude and morphology of light curves solar-like stars change substantially with increasing rotation rate: brightness variations get amplified become more regular, which has so far not been explained. We develop a modelling approach for calculating various rates use it to explain observed trends in stellar photometric variability. combine numerical simulations magnetic Flux Emergence And...