The multi-state life insurance contract is reconsidered in a framework of securitization where insurance claims may be priced by the principle of no arbitrage. This way a generalized version of Thiele’s differential equation (TDE) is obtained for insurance contracts linked to indices, possibly marketed securities. The equation is exemplified by a traditional policy, a simple unit-linked policy ...

A novel approach is presented for acoustic localization based on Time Delay Estimation (TDE). The proposed method relies on the observation that the spectrum of many real-world ambient noise types sufficiently satisfies the assumption of sinusoid stationarity. By employing noise phase spectrum projection, we approximate the phase information of the equivalent clean source signals received by th...

This paper describes an algorithm for robust time-delay estimation (TDE) in situations where a large amount of additive noise and reverberation is present. In [1] an adaptive eigenvalue decomposition algorithm has been developed for TDE between two microphones in highly reverberant acoustic environments. In this paper we extend this algorithm to highly noisy and reverberant environments, by usi...

Consider the query: Does a binary treatment X have a causal effect on a response Y through a causal pathway that does not involve the intermediate variable M? This query is often rephrased as: Does X have a direct causal effect on Y not through M? Direct effects have been formally defined in three different ways: the controlled direct effects (CDE), the natural direct effects (i.e. pure and tot...

In order to fabrication of transparent glass-ceramics with Li-mica nano crystals, the glasses with chemical composition of 94.9 mass% Li(1+x)Mg3AlSi3(1+x)F2 (x=0.5) with 5.1 mass% MgF2 were crystallized. The glasses were fabricated via the conventional melt-quenching technique. Mica crystals were precipitated in the glass phase by later heat treatment. Glass samples had glass transition tempera...