Implied option volatility averages about 19% per year, while the unconditional return volatility is only about 16%. The difference, coined the volatility premium, is substantial and translates into large returns for sellers of index options. This paper studies a general equilibrium model based on long-run risk which in an effort to explain the premium. In estimating the model on past data of st...

Figure 1. Mean value standard deviation change of total retinal thickness (microns) from baseline in the Comparison of AMD Treatments Trials (CATT). The efficacy of the intravitreal anti-vascular endothelial growth factor (anti-VEGF) agents bevacizumab and ranibizumab has revolutionized the treatment of neovascular age-related macular degeneration. Results from the Comparison of AMD Treatments ...

Islands and their problems have elicited a dominant place in maritime historiography. Whether vital stations along important shipping routes or marginal places often by-passed by civilizations and history, their role and condition, their subsistence, their centrality to the flow of goods and the diffusion of cultures and, most prominently, their supposed isolation have much intrigued scholars o...

In the context of multicriteria decision making whose aggregation process is based on the Choquet integral, bi-capacities can be regarded as a natural extension of capacities when the underlying evaluation scale is bipolar. The notion of entropy, recently generalized to capacities to measure their uniformity, is now extended to bi-capacities. We show that the resulting entropy measure has a ver...

Yurij Holovatch, Dmytro Ivaneyko and Bertrand Delamotte 1 Institute for Condensed Matter Physics and Ivan Franko National University of Lviv, UA–79011 Lviv, Ukraine 2 Institute für Theoretische Physik, Johannes Kepler Universität Linz, A-4040 Linz, Austria 3 Ivan Franko National University of Lviv, UA–79005 Lviv, Ukraine 4 Laboratoire de Physique Théorique et Hautes Energies, Universités Paris ...

IVAN MARUSIC, D. D. JOSEPH and KRISHNAN MAHESH Journal of Fluid Mechanics / Volume 570 / January 2007, pp 467 ­ 477 DOI: 10.1017/S0022112006003247, Published online: 03 January 2007 Link to this article: http://journals.cambridge.org/abstract_S0022112006003247 How to cite this article: IVAN MARUSIC, D. D. JOSEPH and KRISHNAN MAHESH (2007). Laminar and turbulent comparisons for channel flow and ...