Groundwater is the natural resource most extracted in the world. It supplies 50% of the total potable water requirements, 40% of the industry take, and 20% of agriculture groundwater is a strategic resource for every country. That common-pool resources are highly susceptible to lead to a tragedy of the commons is a well-known fact. We claim that a combination of groundwater modeling, optimizati...

This paper develops a bi-objective portfolio selection problem that maximizes returns and minimizes a risk measure called conditional Drawdown (CDD). The drawdown measures include the maximal Drawdown and Average Drawdown as its limiting case. The CDD family of risk functional is similar to conditional value at Risk (CVaR). In this paper, the fuzzy method has been used to solve the bi-objec...

In large regions of Europe and North America, peatlands have been exposed to elevated rates of atmospheric nitrogen (N) deposition. We investigated the fate of experimentally added N (NH(4)(15)NO3) at two different N loads (1.2 and 4.7 g N m(-2) yr(-1)) and water tables (1 and 32 cm) in intact cores from two peatlands, located in Central and Eastern Canada. The sites receive an estimated total ...

One measure of riskiness of an investment is “drawdown”, defined, most often in the asset management space, as the decline in net asset value from a historic high point. Mathematically, if the net asset value is denoted by Vt , t ≥ 0, then the current “peak-to-trough” drawdown is given by Dt = Vt − max0≤u≤t Vu. The maximum drawdown, max0≤u≤t Du, is a statistic that the CFTC forces managed futur...

The notion of drawdown is central to active portfolio management. Conditional Drawdown-at-Risk (CDaR) is defined as the average of a specified percentage of the largest drawdowns over an investment horizon and includes maximum and average drawdowns as particular cases. The necessary optimality conditions for a portfolio optimization problem with CDaR yield the capital asset pricing model (CAPM)...

It is over two decades that groundwater flow models are routinely implemented for better management of groundwater resources.Modeling groundwater flow with the help of the ground water modeling system (GMS) in the Damghan plain aquifer in northern Iran,which experiences declining levels and numerous environmental hazards, has demonstrated that, (a) in the worst case scenario theaquifer will fac...

Maximum drawdown is a risk measure that plays an important role in portfolio management. In this paper, we address the question of computing the expected value of the maximum drawdown using a partial differential equation (PDE) approach. First, we derive a two-dimensional convection-diffusion pricing equation for the maximum drawdown in the Black-Scholes framework. Due to the properties of the ...

A new one-parameter family of risk measures called Conditional Drawdown (CDD) has been proposed. These measures of risk are functionals of the portfolio drawdown (underwater) curve considered in active portfolio management. For some value of the tolerance parameter α, in the case of a single sample path, drawdown functional is defined as the mean of the worst (1 − α) ∗ 100% drawdowns. The CDD m...

water is the main option of any development, so having an accurate management of groundwater is necessary. this study has been done in damghan sedimentary plain in iran, which is located in northwest of semnan province. the main objective of this research was to estimate the rate and right site of recharge in damghan plain to prevent the aquifer from decreasing the water table. for this purpose...