Academic literature on the topic 'Modelling options and assumptions'
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Journal articles on the topic "Modelling options and assumptions"
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Broekaert, Jan, Irina Basieva, Pawel Blasiak, and Emmanuel M. Pothos. "Quantum-like dynamics applied to cognition: a consideration of available options." Philosophical Transactions of the Royal Society A: Mathematical, Physical and Engineering Sciences 375, no. 2106 (October 2, 2017): 20160387. http://dx.doi.org/10.1098/rsta.2016.0387.
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Quantum probability theory (QPT) has provided a novel, rich mathematical framework for cognitive modelling, especially for situations which appear paradoxical from classical perspectives. This work concerns the dynamical aspects of QPT, as relevant to cognitive modelling. We aspire to shed light on how the mind's driving potentials (encoded in Hamiltonian and Lindbladian operators) impact the evolution of a mental state. Some existing QPT cognitive models do employ dynamical aspects when considering how a mental state changes with time, but it is often the case that several simplifying assumptions are introduced. What kind of modelling flexibility does QPT dynamics offer without any simplifying assumptions and is it likely that such flexibility will be relevant in cognitive modelling? We consider a series of nested QPT dynamical models, constructed with a view to accommodate results from a simple, hypothetical experimental paradigm on decision-making. We consider Hamiltonians more complex than the ones which have traditionally been employed with a view to explore the putative explanatory value of this additional complexity. We then proceed to compare simple models with extensions regarding both the initial state (e.g. a mixed state with a specific orthogonal decomposition; a general mixed state) and the dynamics (by introducing Hamiltonians which destroy the separability of the initial structure and by considering an open-system extension). We illustrate the relations between these models mathematically and numerically. This article is part of the themed issue ‘Second quantum revolution: foundational questions’.
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De La Peña, Victor H., Rustam Ibragimov, and Steve Jordan. "Option bounds." Journal of Applied Probability 41, A (2004): 145–56. http://dx.doi.org/10.1239/jap/1082552196.
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In this paper, we obtain sharp estimates for the expected payoffs and prices of European call options on an asset with an absolutely continuous price in terms of the price density characteristics. These techniques and results complement other approaches to the derivative pricing problem. Exact analytical solutions to option-pricing problems and to Monte-Carlo techniques make strong assumptions on the underlying asset's distribution. In contrast, our results are semi-parametric. This allows the derivation of results without knowing the entire distribution of the underlying asset's returns. Our results can be used to test different modelling assumptions. Finally, we derive bounds in the multiperiod binomial option-pricing model with time-varying moments. Our bounds reduce the multiperiod setup to a two-period setting, which is advantageous from a computational perspective.
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De La Peña, Victor H., Rustam Ibragimov, and Steve Jordan. "Option bounds." Journal of Applied Probability 41, A (2004): 145–56. http://dx.doi.org/10.1017/s0021900200112264.
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In this paper, we obtain sharp estimates for the expected payoffs and prices of European call options on an asset with an absolutely continuous price in terms of the price density characteristics. These techniques and results complement other approaches to the derivative pricing problem. Exact analytical solutions to option-pricing problems and to Monte-Carlo techniques make strong assumptions on the underlying asset's distribution. In contrast, our results are semi-parametric. This allows the derivation of results without knowing the entire distribution of the underlying asset's returns. Our results can be used to test different modelling assumptions. Finally, we derive bounds in the multiperiod binomial option-pricing model with time-varying moments. Our bounds reduce the multiperiod setup to a two-period setting, which is advantageous from a computational perspective.
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MacLeod, N. D., B. S. Nelson, J. G. McIvor, and J. P. Corfield. "Wet season resting - economic insights from scenario modelling." Rangeland Journal 31, no. 1 (2009): 143. http://dx.doi.org/10.1071/rj08043.
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Pasture degradation, particularly that attributable to overgrazing, is a significant problem across the northern Australian rangelands. Although grazing studies have identified the scope for wet season resting strategies to be used to rehabilitate degraded pastures, the economic outcome of these strategies has not been extensively demonstrated. An exploratory study of the prospective economic value of wet season resting is presented using an economic simulation model of a 28 000 ha beef enterprise located in the Charters Towers region of north-eastern Australia to explore seven hypothetical scenarios centred on the projected performance of a wet season resting strategy. A series of 20-year simulations for a range of pasture recovery profiles, stocking capacity, animal productivity responses, beef prices and agistment options are compared with a baseline scenario of taking no action. Estimates of the net present value of the 20-year difference in total enterprise gross margins between the various resting options and the ‘do nothing’ option identify that wet season resting can offer a positive economic return for the range of scenarios examined, although this is contingent on the assumptions that are made concerning the trajectories of change in carrying capacity and animal productivity. Some implications for management and policy making to support the practical implementation of wet season resting strategies are discussed.
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VIET, A. F., C. FOURICHON, and H. SEEGERS. "Review and critical discussion of assumptions and modelling options to study the spread of the bovine viral diarrhoea virus (BVDV) within a cattle herd." Epidemiology and Infection 135, no. 5 (November 17, 2006): 706–21. http://dx.doi.org/10.1017/s095026880600745x.
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SUMMARYRelevance of epidemiological models depends on assumptions on the population structure and dynamics, on the biology of the host–parasite interaction, and on mathematical modelling. In this paper we reviewed published models of the bovine viral diarrhoea virus (BVDV) spread within a herd. Modelling options and assumptions on herd dynamics and BVDV transmission were discussed. A cattle herd is a population with a controlled size. Animals are separated into subgroups according to their age or their physiological status inducing heterogeneity of horizontal transmission. Complexity of models results from: (1) horizontal and vertical virus transmission, (2) birth of persistently infected animals, (3) excretion by transiently and persistently infected animals. Areas where there was a lack of knowledge were identified. Assumptions on the force of infection used to model the horizontal virus transmission were presented and discussed. We proposed possible ways of improving models (e.g. force of infection, validation) and essential model features for further BVDV models.
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Soust-Verdaguer, B., E. Hoxha, C. Llatas, and A. Passer. "How Transport Modelling affects the building Life Cycle Assessment (LCA) results: A Case Study Analysis." IOP Conference Series: Earth and Environmental Science 1078, no. 1 (September 1, 2022): 012096. http://dx.doi.org/10.1088/1755-1315/1078/1/012096.
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Abstract The Life Cycle Assessment (LCA) of a building involves the use of various types of information about the building, including the products, processes, and services related to the building throughout its life cycle. The modelling of the transport process can be complex and may be performed based on a variety of approaches and assumptions. With existing approaches, the most accurate results those closest to the real scenario, are calculated once the building has already been built. Other approaches are based on estimations at the design stage using generic scenarios and data sources. The variation of the LCA results when employing different modelling options for transport modules is studied herein. To this end, and to identify the possible errors or dispersion of the LCA results related to the various transport modelling options, transport impacts are calculated using a case study, whereby five different modelling options are compared. The results show that the transport impact difference between the lowest values (the real scenario) and the highest values (normalised detailed scenario) is approximately 30%. To conclude, efforts should be made to better define the default scenarios, especially regarding transport distances and the correction for volumetric capacity of the transport vessels, adapted to the real scenario.
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Bianco Mauthe Degerfeld, Franz, Giovanna De Luca, Ilaria Ballarini, and Vincenzo Corrado. "Modelling of heat generators: technical standards vs detailed dynamic simulation tools." E3S Web of Conferences 343 (2022): 04005. http://dx.doi.org/10.1051/e3sconf/202234304005.
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In the last years, international technical standards have introduced several procedures for modelling the heat generation sub-system, both providing new calculation methods and updating the old ones. A still open issue concerns the modelling of these sub-systems, by adapting the standard procedure – usually founded on simplified assumptions – to the structure of a detailed dynamic simulation tool. In this paper, the main procedures introduced by the international technical standards issued under the Mandate M/480 EN of 2010 on the heat generation sub-systems are presented, with a focus on combustion systems, chillers, and heat pumps. Simplifications and assumptions are analysed, by pointing out the limits related to the simplified modelling based on empirical correlations and tabulated values. The heat generation standardised models are compared with the ones used in detailed simulation tools, such as EnergyPlus. The main differences in the input data and in the model options are presented, and advices for the completion of the information commonly found in technical data sheets are provided. The paper is aimed both at promoting an effective application of the standards in the building design field and at contributing to the standardisation activity for the achievement of more accurate calculation models.
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Geer, Alan J. "Physical characteristics of frozen hydrometeors inferred with parameter estimation." Atmospheric Measurement Techniques 14, no. 8 (August 6, 2021): 5369–95. http://dx.doi.org/10.5194/amt-14-5369-2021.
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Abstract. Frozen hydrometeors are found in a huge range of shapes and sizes, with variability on much smaller scales than those of typical model grid boxes or satellite fields of view. Neither models nor in situ measurements can fully describe this variability, so assumptions have to be made in applications including atmospheric modelling and radiative transfer. In this work, parameter estimation has been used to optimise six different assumptions relevant to frozen hydrometeors in passive microwave radiative transfer. This covers cloud overlap, convective water content and particle size distribution (PSD), the shapes of large-scale snow and convective snow, and an initial exploration of the ice cloud representation (particle shape and PSD combined). These parameters were simultaneously adjusted to find the best fit between simulations from the European Centre for Medium-range Weather Forecasts (ECMWF) assimilation system and near-global microwave observations covering the frequency range 19 to 190 GHz. The choices for the cloud overlap and the convective particle shape were particularly well constrained (or identifiable), and there was even constraint on the cloud ice PSD. The practical output is a set of improved assumptions to be used in version 13.0 of the Radiative Transfer for TOVS microwave scattering package (RTTOV-SCATT), taking into account newly available particle shapes such as aggregates and hail, as well as additional PSD options. The parameter estimation explored the full parameter space using an efficient assumption of linearly additive perturbations. This helped illustrate issues such as multiple minima in the cost function, and non-Gaussian errors, that would make it hard to implement the same approach in a standard data assimilation system for weather forecasting. Nevertheless, as modelling systems grow more complex, parameter estimation is likely to be a necessary part of the development process.
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Xu, Weijun, Guifang Liu, and Xiaojian Yu. "A Binomial Tree Approach to Pricing Vulnerable Option in a Vague World." International Journal of Uncertainty, Fuzziness and Knowledge-Based Systems 26, no. 01 (January 31, 2018): 143–62. http://dx.doi.org/10.1142/s0218488518500083.
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The aim of this paper is pricing the vulnerable options in a vague world. Due to the vulnerability of financial markets and the economy environment in the real world, investors cannot always have precise information about firm value and default recovery rate in vulnerable option pricing. Therefore, following the framework of Klein in 1996, a fuzzy binomial tree pricing model is derived by modelling the firm value and default recovery rate as fuzzy numbers. The numerical results show that the precise information assumption about the firm value and recovery rate in Klein model may lead to underestimate the credit risk on the values of vulnerable options. This study aims to provide insights for future research on defaultable options pricing under imprecise market information.
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Webb, William. "Modelling small cell deployments within a macrocell." Digital Policy, Regulation and Governance 20, no. 1 (January 8, 2018): 14–22. http://dx.doi.org/10.1108/dprg-07-2017-0038.
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Purpose Small cells, or microcells, are often seen as a way to substantially enhance the capacity of cellular networks. Previous assumptions have been that by deploying a dense layer of small cells within a macrocell, capacity can be improved by an order of magnitude or more. However, there are complexities such as the need to share frequencies between macrocell and small cells, varying patterns of users, the balance between indoor and outdoor subscribers and the different options available within 4G for balancing loading. The purpose of this study is to understand the impact these real-world constraints have on the capacity enhancements that small cells can provide. Design/methodology/approach This paper describes a model that simulates the impact of small cell deployments in macrocells in a typical 4G network. Findings It shows that, in some cases, small cells can actually reduce capacity, while in the best case, maximum capacity gains are less than 100 per cent. Originality/value It shows that, in some cases, small cells can actually reduce capacity contrary to perceived wisdom.
Dissertations / Theses on the topic "Modelling options and assumptions"
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Ziegler, Lee. "Tests of distributional assumptions and the informational content of agricultural futures options." Thesis, Montana State University, 1997. http://etd.lib.montana.edu/etd/1997/ziegler/ZieglerL1997.pdf.
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It has been proposed that agricultural futures options contain information which may be used by those involved in agriculture, such as rate setting for crop (revenue) insurance. Specifically, it is proposed that these options may be used to predict the variance and perhaps higher moments of the distribution of the respective futures prices. This thesis first tests distributional assumptions maintained by the Black-Scholes analysis. It is found that many of these assumptions, such as the commonly used lognormality, are empirically rejected. Furthermore, it is found that futures price change standard deviations and futures options implied volatilities display seasonal patterns. Second, this thesis tests whether com, soybean, and spring wheat futures options implied volatilities obtained from the Black formula are accurate predictors of futures price variance. Empirically, these implied volatilities are found to be very poor predictors of subsequent futures price variance. Furthermore, there is no empirical support to show that the agricultural futures options market has become more efficient since it first started trading in the mid-1980's.
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Smith, Neil. "Reducing the need for assumptions in the automated modelling of physical systems." Thesis, De Montfort University, 1998. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.391565.
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Mafu, Thandile John. "Modelling of multi-state panel data : the importance of the model assumptions." Thesis, Stellenbosch : Stellenbosch University, 2014. http://hdl.handle.net/10019.1/95994.
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Thesis (MCom)--Stellenbosch University, 2014.ENGLISH ABSTRACT: A multi-state model is a way of describing a process in which a subject moves through a series of states in continuous time. The series of states might be the measurement of a disease for example in state 1 we might have subjects that are free from disease, in state 2 we might have subjects that have a disease but the disease is mild, in state 3 we might have subjects having a severe disease and in last state 4 we have those that die because of the disease. So Markov models estimates the transition probabilities and transition intensity rates that describe the movement of subjects between these states. The transition might be for example a particular subject or patient might be slightly sick at age 30 but after 5 years he or she might be worse. So Markov model will estimate what probability will be for that patient for moving from state 2 to state 3. Markov multi-state models were studied in this thesis with the view of assessing the Markov models assumptions such as homogeneity of the transition rates through time, homogeneity of the transition rates across the subject population and Markov property or assumption. The assessments of these assumptions were based on simulated panel or longitudinal dataset which was simulated using the R package named msm package developed by Christopher Jackson (2014). The R code that was written using this package is attached as appendix. Longitudinal dataset consists of repeated measurements of the state of a subject and the time between observations. The period of time with observations in longitudinal dataset is being made on subject at regular or irregular time intervals until the subject dies then the study ends.
AFRIKAANSE OPSOMMING: ’n Meertoestandmodel is ’n manier om ’n proses te beskryf waarin ’n subjek in ’n ononderbroke tydperk deur verskeie toestande beweeg. Die verskillende toestande kan byvoorbeeld vir die meting van siekte gebruik word, waar toestand 1 uit gesonde subjekte bestaan, toestand 2 uit subjekte wat siek is, dog slegs matig, toestand 3 uit subjekte wat ernstig siek is, en toestand 4 uit subjekte wat aan die siekte sterf. ’n Markov-model raam die oorgangswaarskynlikhede en -intensiteit wat die subjekte se vordering deur hierdie toestande beskryf. Die oorgang is byvoorbeeld wanneer ’n bepaalde subjek of pasiënt op 30-jarige ouderdom net lig aangetas is, maar na vyf jaar veel ernstiger siek is. Die Markov-model raam dus die waarskynlikheid dat so ’n pasiënt van toestand 2 tot toestand 3 sal vorder. Hierdie tesis het ondersoek ingestel na Markov-meertoestandmodelle ten einde die aannames van die modelle, soos die homogeniteit van oorgangstempo’s oor tyd, die homogeniteit van oorgangstempo’s oor die subjekpopulasie en tipiese Markov-eienskappe, te beoordeel. Die beoordeling van hierdie aannames was gegrond op ’n gesimuleerde paneel of longitudinale datastel wat met behulp van Christopher Jackson (2014) se R-pakket genaamd msm gesimuleer is. Die R-kode wat met behulp van hierdie pakket geskryf is, word as bylae aangeheg. Die longitudinale datastel bestaan uit herhaalde metings van die toestand waarin ’n subjek verkeer en die tydsverloop tussen waarnemings. Waarnemings van die longitudinale datastel word met gereelde of ongereelde tussenposes onderneem totdat die subjek sterf, wanneer die studie dan ook ten einde loop.
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Figueroa, Marcelo Gustavo. "Modelling electricity markets : swing options and hybrid models." Thesis, Birkbeck (University of London), 2007. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.439778.
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Ivkovic, Karen Marie-Jeanne, and kardami@optusnet com au. "Modelling Groundwater-River Interactions for Assessing Water Allocation Options." The Australian National University. Centre for Resources, Environment and Society, 2007. http://thesis.anu.edu.au./public/adt-ANU20080901.134545.
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The interconnections between groundwater and river systems remain poorly understood in many catchments throughout the world, and yet they are fundamental to effectively
managing water resources. Groundwater extraction from aquifers that are connected to river systems will reduce river flows, and this has implications for riverine ecosystem
health, water security, aesthetic and cultural values, as well as water allocation and water management policies more generally. The decline in river flows as a consequence
of groundwater extractions has the potential to threaten river basin industries and communities reliant on water resources.
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In this thesis the connectivity between groundwater and river systems and the impact that groundwater extractions have on river flows were studied in one of Australias most developed irrigation areas, the Namoi River catchment in New South Wales.
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Gauged river reaches in the Namoi River catchment were characterised according to three levels of information: 1) presence of hydraulic connection between aquifer-river
systems; 2) dominant direction of aquifer-river flux; and 3) the potential for groundwater extraction to impact on river flows. The methods used to characterise the river reaches included the following analyses: 1) a comparison of groundwater and river
channel base elevations using a GIS/Database; 2) stream hydrographs and the application of a baseflow separation filter; 3) flow duration curves and the percentage of
time a river flows; 4) vertical aquifer connectivity from nested piezometer sites; and 5) paired stream and groundwater hydrographs.
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The theoretical responses for gaining, losing and variably gaining-losing river reaches were conceptualised along with the processes that operate in these systems. Subsequently, a map was prepared for the Namoi River catchment river reaches
indicating aquifer-river connectivity and dominant direction of flux. Large areas of the Upper Namoi River catchment were found to have connected aquifer-river systems,
with groundwater extraction bores located in close proximity to the rivers. Accordingly, the potential for groundwater extraction to impact on river flows in these areas was
considered significant. The Lower Namoi was assessed as having mostly disconnected aquifer-river systems.
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In order to investigate the impacts of groundwater extraction on river flows in
connected aquifer-river systems, a simple integrated aquifer-river model entitled IHACRES_GW was developed for use at the catchment scale. The IHACRES_GW model includes a dynamic, spatially-lumped rainfall-runoff model, IHACRES, combined with a simple groundwater bucket model that maintains a continuous water
balance account of groundwater storage volumes for the upstream catchment area relative to the base of the stream, assumed to be the stream gauging station. The IHACRES_GW model was developed primarily: 1) to improve upon existing water
allocation models by incorporating aquifer-river interactions; 2) to quantify the impacts of groundwater extraction on river flows within unregulated, connected aquifer-river
systems; 3) to inform water policy on groundwater extraction; and 4) to be able to utilise the model in future integrated assessment of water allocations options at the catchment scale.
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The IHACRES_GW model was applied within the Coxs Creek subcatchment in order to test its validity. The model was used to simulate a range of extraction scenarios which enabled the impacts of groundwater extractions on river flows to be assessed. In
particular, the historical impacts of groundwater extraction on the timing, magnitude and frequency of baseflow events were quantified over a 15-year (1988-2003) simulation period. The IHACRES_GW model was also used to evaluate the implications of water sharing plans for the Coxs Creek subcatchment.
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A spatially-lumped modelling approach in the management of water resources has a number of limitations, including those arising from the lack of spatial considerations. However, it offers a number of advantages including facilitating a better understanding
of large-scale water management issues, assessing the impacts of water allocation and groundwater extraction on river flows at the catchment scale, and informing water sharing plans. In particular, this type of modelling approach lends itself to integrated
assessments of water allocation options in which hydrological, ecological and socioeconomic
data sets are combined, and where data is commonly aggregated to a larger scale of interest in response to the requirements of policy makers. The research findings from this thesis provide some insights into how to better manage the impacts of
groundwater extraction in connected aquifer-river systems.
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Scannell, Michael Francis. "The modelling of career options and Continuing Professional Development." Thesis, University of Bedfordshire, 1998. http://hdl.handle.net/10547/333009.
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The aim of the research was to generate a model of the interactions between career options and the concept of continuing professional development. Professional development has, in many professions and organisations, become synonymous with managerial development, but the developmental needs of individuals who wish to remain in a professional role may differ from the developmental needs of individuals in a management role. Teachers were chosen as the professional group to be tested. Fifty-four teachers, all volunteers, from six secondary schools were separately interviewed under a structured format, and were also invited to complete a number of questionnaires. From analysis of the interviews and questionnaires a model of teachers' career options was produced which identified three main categories of teachers: senior managers (headteachers or deputy headteachers); aspirants to a senior manager's role; and classroom teachers. The analysis also identified a number of main factors, and sub-factors, that affected the obtaining of one of the three categories and each of the factors was developed through a targeted literature search and through analysis of the structured interviews. An additional number of factors that related only to classroom teachers were also analysed in a similar manner. Also investigated are how teachers plan their career, and the value of continuing professional development. The model of career options was then tested on members of two similar professions -midwives and nurses. Completion of the research resulted in a proposed model of career options and recommendations for continuing professional development for each option. Together the model and recommendations represent an original contribution to knowledge.
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Boussabah, Laith. "Impact of engineering modelling assumptions on assessing the seismic performance of Montgomery Block building." Thesis, University of Ottawa (Canada), 1993. http://hdl.handle.net/10393/6587.
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This study focuses on the Montgomery Block building, built in 1853 and which survived the 1906 San Francisco earthquake of magnitude 8.3 despite being roughly 15 km from the ruptured San Andreas fault (Freeman 1932). After a review of the existing literature on the seismic performance of unreinforced masonry structures, a summary of the lessons to be learned and an identification of the areas that require further research is presented. Then, an assessment of the range of predicted seismic capacities as estimated from traditional and conservative methods to the most liberal ones for the selected Montgomery building is conducted. Finally, a comparison of these capacities is performed to illustrate the impact of structural engineering modelling decisions on the predicted seismic performance of URM buildings. From this study, it is clear that depending on the structural model selected by the engineer, considerable differences of nearly an order of magnitude in some cases may exist in the seismic performance assessments of URM buildings.
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Rout, Sweta. "The mathematical modelling and numerical solution of options pricing problems." Thesis, University of Greenwich, 2005. http://gala.gre.ac.uk/6285/.
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Accurate and efficient numerical solutions have been described for a selection of financial options pricing problems. The methods are based on finite difference discretisation coupled with optimal solvers of the resulting discrete systems. Regular Cartesian meshes have been combined with orthogonal co-ordinate transformations chosen for numerical accuracy rather than reduction of the differential operator to constant coefficient form. They allow detailed resolution in the regions of interest where accuracy is most desired, and grid coarsening where there is least interest. These transformations are shown to be effective in producing accurate solutions on modest computational grids. The spatial discretisation strategy is chosen to meet accuracy requirements as sell as to produce coefficient matrices with favourable sparsity and stability properties. In the case of single factor European options, a modified Crank-Nicolson, second order accurate finite difference scheme is presented, which uses adaptive upwind differences when the mesh Peclet conditions are violated. The resulting tridiagonal system of equations is solved using a direct solver. A careful study of grid refinement displays convergence towards the true solution and demonstrates a high level of accuracy can be obtained with this approach. Laplace inversion methods are also implemented as an alternative solution approach for the one-factor European option. Results are compared to those produced by the direct solver algorithm and are shown to be favourable. It is shown how Semi-Lagrange time-integration can solve the path-dependent Asian pricing problem, by integrating out the average price term and simplifying the finite difference equations into a parameterised Black-Scholes form. The implicit equations that result are unconditionally stable, second order accurate and can be solved using standard tridiagonal solvers. The Semi-Lagrange method is shown to be easily used in conjunction with co-ordinate transformations applied in both spatial directions. A variable time-stepping scheme is implemented in the algorithm. Early exercise is also easily incorporated, the resulting linear complementarity problem can be solved using a projection or penalty method (the penalty method is shown to be slightly more efficient). Second order accuracy has been confirmed for Asian options that must be held to maturity. A comparison with published results for continuous-average-rate put and call options, with and without early exercise, shows that the method achieves basis point accuracy and that Richardson extrapolation can also be applied.
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Alsolami, Majdi. "Mathematical modelling of mid-term options price of Ijārah Sukūk." Thesis, University of Sussex, 2018. http://sro.sussex.ac.uk/id/eprint/77864/.
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The main aim of this thesis is to study the pricing of options of Ijārah Sukūk for lifespan. The pricing formulae of mid-term call and put options are derived by computing the expected value under the risk neutral measure and using an appropriate condition of exercising the option at mid-term. The mid-term option prices with continuous Ijārah obtained using these formulae are compared with the prices of European and American options with dividend for lifespan. The comparison is done both analytically and numerically. The same analysis is done for callable and puttable Sukūk with Ijārah and compared with the prices of European and American callable and puttable bond with coupon for lifespan. We also study the relationship between callable Sukūk price and Ijārah rate by computing the duration and convexity of the callable Sukūk price. The same analysis is done for puttable Sukūk.
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Campbell, Dana. "Sustainable assumptions : modelling the ecological impacts of pre-pottery Neolithic farming communities in the Levant." Thesis, University of Liverpool, 2009. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.501734.
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During the Pre-Pottery Neolithic - Pottery Neolithic transition in the Levant, several centuries after the widespread adoption of agriculture and shortly after the adoption of mixed farming, a number of large, formerly successful communities seem to have been abandoned. These apparent settlement transformations are reported to have occurred alongside changes in technology and production, ideological behaviour and the treatment of the dead, and subsistence economy. Whether one views these purported changes as evidence of 'collapse' or not, particular transformations do seem to have taken place and require explanation. Several proposed models attempt to explain why these changes may have occurred, but the anthropogenically induced ecological degradation argument is the most pervasive. While this model has already been tested in a preliminary manner, detailed evaluation of the degradation argument partly based on agronomic research on the ecological impacts of mixed farming is still due.
Books on the topic "Modelling options and assumptions"
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Pace, Scott. National Aerospace Plane Program: Principal assumptions, findings, and policy options. Santa Monica, CA: Rand, 1986.
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Modelling fixed income securities and interest rate options. New York: McGraw-Hill, 1996.
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Smith, Neil. Reducing the need for assumptions in the automated modelling of physical systems. Leicester: De Montfort University, 1998.
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Musiela, Marek. Martingale methods in financial modelling. 2nd ed. Berlin: Springer, 2010.
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1952-, Rutkowski Marek, ed. Martingale methods in financial modelling. Berlin: Springer, 1997.
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1952-, Rutkowski Marek, ed. Martingale methods in financial modelling. 2nd ed. Berlin: Springer, 2005.
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Advanced financial modelling. Berlin: Walter de Gruyter, 2009.
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Ncube, Mthuli. Modelling UK mortgage defaults using a hazard approach based on American options. Cambridge: Department of Applied Economics, University of cambridge, 1994.
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Leach, Matthew. Options for a low carbon future: Review of modelling activities and an update. [London]: Department of Trade and Industry, 2005.
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Real options valuation: The importance of interest rate modelling in theory and practice. 2nd ed. Heidelberg: Springer, 2010.
Find full textBook chapters on the topic "Modelling options and assumptions"
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Walters, David, and Dominic Laffy. "Modelling Performance Options." In Managing Retail Productivity and Profitability, 134–60. London: Macmillan Education UK, 1996. http://dx.doi.org/10.1007/978-1-349-24621-2_6.
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Buckland, S. T., D. R. Anderson, K. P. Burnham, and J. L. Laake. "Assumptions and modelling philosophy." In Distance Sampling, 29–51. Dordrecht: Springer Netherlands, 1993. http://dx.doi.org/10.1007/978-94-011-1572-8_2.
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Buckland, S. T., D. R. Anderson, K. P. Burnham, and J. L. Laake. "Assumptions and modelling philosophy." In Distance Sampling, 29–51. Dordrecht: Springer Netherlands, 1993. http://dx.doi.org/10.1007/978-94-011-1574-2_2.
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Schöne, Max. "Modelling commodity prices." In Real Options Valuation, 40–66. Wiesbaden: Springer Fachmedien Wiesbaden, 2014. http://dx.doi.org/10.1007/978-3-658-07493-7_4.
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Musiela, Marek, and Marek Rutkowski. "American Options." In Martingale Methods in Financial Modelling, 183–204. Berlin, Heidelberg: Springer Berlin Heidelberg, 1997. http://dx.doi.org/10.1007/978-3-662-22132-7_8.
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Musiela, Marek, and Marek Rutkowski. "Exotic Options." In Martingale Methods in Financial Modelling, 205–28. Berlin, Heidelberg: Springer Berlin Heidelberg, 1997. http://dx.doi.org/10.1007/978-3-662-22132-7_9.
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Musiela, Marek, and Marek Rutkowski. "Exotic Options." In Stochastic Modelling and Applied Probability, 229–52. Berlin, Heidelberg: Springer Berlin Heidelberg, 2005. http://dx.doi.org/10.1007/3-540-26653-4_6.
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Walters, Glenn D. "Definitions and Major Assumptions." In Modelling the Criminal Lifestyle, 27–51. Cham: Springer International Publishing, 2017. http://dx.doi.org/10.1007/978-3-319-57771-5_2.
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Henrard, Marc. "Options and Spread Modelling." In Interest Rate Modelling in the Multi-curve Framework, 105–44. London: Palgrave Macmillan UK, 2014. http://dx.doi.org/10.1057/9781137374660_7.
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Castellano, Rosella, and Rosella Giacometti. "Improving Portfolio Performances Using Options Strategies*." In Financial Modelling, 125–42. Heidelberg: Physica-Verlag HD, 2000. http://dx.doi.org/10.1007/978-3-642-57652-2_9.
Full textConference papers on the topic "Modelling options and assumptions"
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Hill, Ramona. "Integrated Network Modelling to Accurately Predict Asset Performance and Evaluate Options." In SPE Canadian Energy Technology Conference and Exhibition. SPE, 2023. http://dx.doi.org/10.2118/212728-ms.
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Abstract Modern energy asset planning requires the synthesis of many multi-disciplinary inputs to translate reservoir data into coherent simulations and their associated economic forecasts for effective decision making. Utilizing a nodal network model to integrate well forecasts with the asset's operational considerations allows for improved accuracy of the simulations, better guidance and generation of insights that allow for subsequent optimization of plans and more effective capital allocation. A novel asset development planning workflow is presented which combines type curves with pad scheduling logic, surface flow constraints, costs, ownership, and price forecasts to model the cash flow of the asset through its full life. Flow capacities, costs, shrinkages, liquid yields, and carbon emissions are input at their representative nodes, enabling dynamic and accurate incremental evaluation. Existing base production and corporate type curve databases are leveraged to streamline the workflow, and several scenarios and sensitivities are examined. The novel workflow is compared against a more traditional method using average infrastructure costs and high level capacity assumptions. As a result of enabling more nuanced operational inputs, the nodal network was able to predictively simulate an asset's value within the given constraints and dynamically re-evaluate the full model after inputs were adjusted. For example, the model could automatically reroute production when a constraint was hit, then evaluate the liquid extraction and fee structure based on the new routing. Each iteration's production forecast included the latest base production, well forecasts, drilling schedule shifts, facility throughput constraints, shut-ins expected due to nearby scheduled fracs, third party offtake and fee structures, carbon emission costs, liquid extractions, and "take or pay" penalties. The outcome was a more accurate representation of incremental economics associated with development options, insight into potential optimizations, and improved quality of capital allocation decisions. In addition, the novel workflow was less cumbersome to manage than the traditional workflow. In the conventional process, obtaining accurate network inputs first requires assumption of the flow path. Any subsequent adjustment to the drilling schedule or type curve can change the production timing and routing, requiring the analysis to be manually redone. The traditional method of planning from the type well database alone does not allow a practical means of incorporating schedule and flow details, especially when the plan changes frequently or when considering multiple scenarios. The resulting forecast relies upon broad assumptions that may be materially incorrect in some cases, preventing optimization of planning decisions. Recent systems integrations allow sharing of data between tools which enables more powerful computational methods for improved forecasting and decision making.
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Seel, Kevin, Massimo Dragan, Moise Coulombe-Pontbriand, Colleen Simpson Laird, and Curtis Campbell. "A Spatial Multi-Criteria Analysis Process to Optimize and Better Defend the Pipeline Route Selection Process." In 2014 10th International Pipeline Conference. American Society of Mechanical Engineers, 2014. http://dx.doi.org/10.1115/ipc2014-33221.
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Linear infrastructure routing experts struggle with providing rationale for final route selections that are defensible, transparent, open to two-way stakeholder communication, and ultimately scientifically rigorous and repeatable. Likewise, proponents are wise to adopt a front-end, risk-based approach to proactively identify, mitigate or possibly avoid routing decisions that may result in stakeholder opposition and costly permitting and/or approval delays. This paper discusses an approach using Geographic Information Systems (GIS) and a highly structured multi-criteria spatial analysis (MCA) to identify potentially optimal corridors and routes based on best available environmental, social, economic and technical spatial datasets. This approach can be used by multidisciplinary project teams to systematically capture, explore and record routing protocols and assumptions, and then extrapolate these considerations through GIS modelling into simulated corridor and route options which can then be quantitatively analyzed, compared, documented and communicated. Early identification and mitigation of project routing risks may help reduce or avoid costly project delays at later stages. Stakeholder communication and consultation can be incorporated at each stage in order to inform routes and explore trade-offs, as well as communicate routing rationale in an open, constructive and meaningful way. The resulting benefits of this approach include a robust and comprehensive rationale, providing proponents with a clear and compelling “story” in support of public and stakeholder consultation as well as the regulatory approval process.
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Allan, Paul, and Richard Brogan. "Energy Transition: Optimizing Existing E&P Value and Clean Energy Potential." In SPE Annual Technical Conference and Exhibition. SPE, 2021. http://dx.doi.org/10.2118/206175-ms.
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Abstract Reduction of CO2 emissions has become a key component of many E&P company strategies, reflecting the accelerating demands of interest groups, activist investors, and country specific legislation for specific targets and measures of carbon footprint reduction. Underlying this requirement for change are the existing investments and cash flows resulting from the core ‘conventional’ business opportunities, that while potentially carbon heavy generate the cashflows needed to sustain and grow the business. Our work with several major energy firms has shown that assumptions and decisions impacting the pace of needed change need to be carefully tested, as many of the optimal decisions are counter intuitive. An example at a large integrated company was the insight that expansion of its shale resource investments accelerated the transition to a lower carbon footprint, given the cashflow generation and potential to advance low carbon alternatives in parallel. A portfolio model has been developed that replicates many of the options a company might assess in developing a strategy for carbon reduction and energy transition. This includes estimations of carbon generation from existing businesses as well as carbon reducing strategies ranging from carbon capture to new clean energy sources such as wind, solar, or hydrogen. A case study is used to represent the existing performance delivery and expectations for a large, integrated oil firm as it ‘transitions’ into a cleaner, low-carbon company. This modelling provides a window into the complexity of timing trade-offs, criticality in specific early investments, and drivers to the decisions surrounding a transitional business. The impacts of stasis, premature ‘forced’ transition, and errors in new clean energy ‘bets’ are assessed and tested, providing insights into risk mitigation strategies and alternatives. The case study clarifies the complexity in trade-offs within what appears to be a ‘simple’ energy transition strategy. This highlights the value and insights resulting from quantitative modelling of these decision structures. This paper provides examples of current methods of quantifying and assessing carbon reducing strategies. As the actual costs of generation depends on political considerations and societal demands, a wide range of typical company assumptions is outlined. In assessing alternative sources, the paper outlines the related ‘costs’ in the most touted clean-energy alternatives, both in the costs of implementation as well as the possible costs or charges resulting from future carbon generation. While most integrated energy companies have considered carbon reduction within their strategic plans for many years now, the investments in carbon reduction are for the most part negligible in comparison to conventional investments. International attention to carbon reduction and changes in societal expectations are putting additional pressures on companies to adapt more rapidly. However, transition introduces additional uncertainty, as seen by the possibility of a reduction in the credit ratings of some companies. Planning and understanding the proposed path is key to success.
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Vines, Sarah, and David Lever. "An Integrated Approach to Geological Disposal of UK Wastes Containing Carbon-14." In ASME 2013 15th International Conference on Environmental Remediation and Radioactive Waste Management. American Society of Mechanical Engineers, 2013. http://dx.doi.org/10.1115/icem2013-96342.
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Carbon-14 is a key radionuclide in the assessment of the safety of a geological disposal facility for radioactive waste because of the calculated assessment of the radiological consequences of gaseous carbon-14 bearing species [i]. It may be that such calculations are based on overly conservative assumptions and that better understanding could lead to considerably reduced assessment of the radiological consequences from these wastes. Alternatively, it may be possible to mitigate the impact of these wastes through alternative treatment, packaging or design options. The Radioactive Waste Management Directorate of the UK’s Nuclear Decommissioning Authority (NDA RWMD) has established an integrated project team in which the partners are working together to develop a holistic approach to carbon-14 management in the disposal system [ii]. For a waste stream containing carbon-14 to be an issue: • There must be a significant inventory of carbon-14 in the waste stream; AND • That waste stream has to generate carbon-14 bearing gas; AND • A bulk gas phase has to entrain the carbon-14 bearing gas: AND • These gases must migrate through the engineered barriers in significant quantities; AND • These gases must migrate through the overlying geological environment (either as a distinct gas phase or as dissolved gas); AND • These gases must interact with materials in the biosphere (i.e. plants) in a manner that leads to significant doses and risks to exposed groups or potentially exposed groups. The project team has developed and used this “AND” approach to structure and prioritise the technical work and break the problem down in a manageable way. We have also used it to develop our approach to considering alternative treatment, packaging and design options. For example, it may be possible to pre-treat some wastes to remove some of the inventory or to segregate other wastes so that they are removed from any bulk gas phase which might facilitate migration through the geosphere. Initially, the project team has undertaken a six month programme of work to examine the current understanding of these aspects and has captured this in the Phase 1 report [ii], in a modelling basis spreadsheet and in scoping assessments, which help us better understand the potential significance of carbon-14. Using the current modelling basis, but ignoring any potential benefits from the geosphere in retarding or preventing gas from reaching the surface, the calculated release of carbon-14 is dominated by: corrosion of irradiated reactive metals (in the operational and early post-closure time frame); corrosion of irradiated stainless steel and leaching of irradiated graphite (in the longer term). The Phase 1 work has shown that there is considerable scope for reducing the calculated radiological consequence for these wastes and a roadmap has been developed for a second Phase of work.
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Allan, Paul. "Into the Unknown: Expert System Guides Energy Transition Strategy." In SPE Symposium: Leveraging Artificial Intelligence to Shape the Future of the Energy Industry. SPE, 2023. http://dx.doi.org/10.2118/214458-ms.
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Abstract Most E&P companies have publicly stated some form of ‘carbon reduction’ planning as they communicate their strategies to stakeholders. Internal efforts for reducing carbon generation might include reduced flaring, pipeline integrity improvements, or carbon sequestration for which E&P companies have the experience and skill sets to adequately evaluate. Other companies have committed to more extensive and fundamental changes to their business models – potentially necessitating a need to expand into historically ‘non-E&P’ energy sectors, such as wind, solar, or hydrogen businesses. The expertise to explore these types of strategic decisions can potentially be acquired through hiring or acquisitions but is often insufficient from within the ranks of typical E&P firms. This can make the initial exploration into these ‘possible’ alternatives risky and / or inadequately informed. As an aid to companies entering the renewables space, the following paper describes a portfolio modelling approach to assessing clean energy business alternatives. Renewable energy characteristics, including investment profiles, cost structures, and location specific efficiencies and returns (economics) are incorporated into a portfolio model as based on ‘expert guidance’ and publicly available data sets. This model makes it possible to capture the characteristics of the existing hydrocarbon business (production, cash flows, capital investments, etc.) and layer in ‘possible’ alternatives for wind, solar, or carbon offset investment alternatives. This modelling allows decision makers to begin exploring possible investments in these sectors without the requirements for large investments in new personnel, acquisitions, or other costly steps. A simple portfolio model representing a conventional E&P organization has been developed and expanded to include possible sampling of renewable energy projects. This model provides a means of selecting from various investment options (either manually or utilizing a linear optimization routine) and assessing the performance characteristics across multiple metrics. The model includes operational and economic descriptions of renewable energy investment alternatives, including investments in onshore wind, offshore wind, solar photovoltaics, concentrated solar, and carbon offset and sequestration projects. The key drivers and assumptions for these investment alternatives are based on current industry trends and cost structures and are clearly noted and open for revision or customization to a company's specific location or existing business knowledge as needed. This paper will demonstrate how these techniques can assist in positioning company decision makers for more informed entry or exploration of new business options as these opportunities evolve. The methods combine proven techniques in portfolio assessment (utilizing linear optimization and Monte Carlo simulation) with ‘expert’ guidance as to the characteristics of clean energy businesses. A process for continuous model refinements and improvements is outlined, allowing decision makers to maintain an ‘evergreen’ perspective of potential strategic alternatives in renewables.
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Stewart, Samuel R., John E. Wentz, and Joseph T. Allison. "Experimental and Computational Fluid Dynamic Analysis of Melt Flow Behavior in Fused Deposition Modelling of Poly(lactic) Acid." In ASME 2015 International Mechanical Engineering Congress and Exposition. American Society of Mechanical Engineers, 2015. http://dx.doi.org/10.1115/imece2015-52261.
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Fused deposition modelling (FDM) creates three-dimensional parts by feeding a rigid thermoplastic filament through a heated barrel to achieve a semi-fluid state and then extruding it layer-by-layer to create a part geometry. The melt flow behavior within FDM must be analyzed in order to correctly understand the temperature gradients within the system to promote part quality, process control, and efficiency. The presented research consists of analyzing the melt flow behavior of polymer poly(lactic) acid (PLA) within FDM. This includes an experimental analysis of the power output of the resistive heat source, a theoretical analysis of external coefficients of heat-transfer, and an experimental validation of liquefier temperatures. A three-dimensional fluid-flow model is created using the accurate geometry of the extruder assembly, calculated conditions from initial experimental results, and referenced material properties. Results of this research include a significant temperature difference between the areas of the liquefier assembly close in proximity to the power source to those further away such as the inlet and outlet, suggesting that external heat transfer mechanisms play a significant role in liquefier dynamics, contrary to the more common assumption of constant wall temperature or constant heat flux used in modeling. The research presented provides new information regarding the melt flow of PLA, a method of modeling external heat transfer, and a way of understanding power consumption that can lead to liquefier design improvements. The process itself will also aid in identifying modeling considerations for further investigations of melt flow involving various extruder designs and material options. Specifically, the use of this type of comprehensive model is of interest to the additive manufacturing community with respect to thermally sensitive component specification and heating and cooling needs within process based on changing system parameters such as extrusion temperature and mass flow rates (i.e. material feed rate and/or change in extrusion diameter).
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Szaz, Janos, and Agnes Vidovics-Dancs. "Options With Stochastic Strike Prices." In 32nd Conference on Modelling and Simulation. ECMS, 2018. http://dx.doi.org/10.7148/2018-0041.
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Edelev, Aleksey V., and Valeriy I. Zorkaltsev. "The combinatorial modelling of energy development options." In 2017 Tenth International Conference Management of Large-Scale System Development (MLSD). IEEE, 2017. http://dx.doi.org/10.1109/mlsd.2017.8109614.
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Chen, Li-ming. "Evaluation Modelling and Optimization of Investment Options." In 2008 International Workshop on Modelling, Simulation and Optimization. IEEE, 2008. http://dx.doi.org/10.1109/wmso.2008.18.
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Liučvaitienė, Aušra, and Kęstutis Peleckis. "Development Of Competitiveness Advantage In Global Market: Theoretical Assumptions And Assessment Options." In Contemporary Issues in Business, Management and Education ‘2012. Vilnius, Lithuania: Vilnius Gediminas Technical University Publishing House Technika, 2012. http://dx.doi.org/10.3846/cibme.2012.25.
Full textReports on the topic "Modelling options and assumptions"
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Visaria, Leela, and Pravin Visaria. Prospective population growth and policy options for India, 1991–2101. Population Council, 1996. http://dx.doi.org/10.31899/rh1996.1023.
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India, the second most populous country in the world, experienced an accelerated decline in fertility during the 1980s. As a result, India’s total fertility rate (TFR) in 1993, 3.5 births per woman, is below the level presumed in the population projections of the United Nations and the World Bank. This favorable development has occurred as India is attempting to reorient its family planning program to focus on the reproductive health of women and the health and welfare of children. The method-specific targets for contraceptive acceptors assigned to every grassroots health worker were abandoned in April 1996. Against this backdrop, this paper seeks to analyze the components of future population growth in India based on a series of hypothetical projections using alternative assumptions about the future decline in fertility. Only one assumption is made about the pace of mortality decline. The likely consequences of the prospective population growth and the policy options for accelerating fertility decline are also discussed.
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McGarrigle, M. Embedding Building Information Modelling into Construction Technology and Documentation Courses. Unitec ePress, November 2014. http://dx.doi.org/10.34074/rsrp.005.
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The aim of this research is to generate a resource to assist construction lecturers in identifying opportunities where Building Information Modelling [BIM] could be employed to augment the delivery of subject content within individual courses on construction technology programmes. The methodology involved a detailed analysis of the learning objectives and underpinning knowledge of the course content by topic area, within the residential Construction Systems 1 course presently delivered at Unitec on the National Diplomas in Architectural Technology[NDAT], Construction Management [NDCM] and Quantity Surveying [NDQS]. The objective is to aid students’ understanding of specific aspects such as planning controls or sub-floor framing by using BIM models, and investigate how these could enhance delivery modes using image,animation and interactive student activity. A framework maps the BIM teaching opportunities against each topic area highlighting where these could be embedded into construction course delivery. This template also records software options and could be used in similar analyses of other courses within similar programmes to assist with embedding BIM in subject delivery.
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McGarrigle, M. Embedding Building Information Modelling into Construction Technology and Documentation Courses. Unitec ePress, November 2014. http://dx.doi.org/10.34074/rsrp.005.
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The aim of this research is to generate a resource to assist construction lecturers in identifying opportunities where Building Information Modelling [BIM] could be employed to augment the delivery of subject content within individual courses on construction technology programmes. The methodology involved a detailed analysis of the learning objectives and underpinning knowledge of the course content by topic area, within the residential Construction Systems 1 course presently delivered at Unitec on the National Diplomas in Architectural Technology[NDAT], Construction Management [NDCM] and Quantity Surveying [NDQS]. The objective is to aid students’ understanding of specific aspects such as planning controls or sub-floor framing by using BIM models, and investigate how these could enhance delivery modes using image,animation and interactive student activity. A framework maps the BIM teaching opportunities against each topic area highlighting where these could be embedded into construction course delivery. This template also records software options and could be used in similar analyses of other courses within similar programmes to assist with embedding BIM in subject delivery.
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Cristia, Julian P., Pedro Bernal, Julieth Santamaria, Paula Algarra, Carolina Bernal, Lisseth Escalante, Andrés Gallegos, et al. A Cost-Benefit Analysis of Selected Digital Projects in Latin America and the Caribbean. Inter-American Development Bank, November 2022. http://dx.doi.org/10.18235/0004525.
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The increase in access to digital technologies is opening up opportunities for governments in Latin America and the Caribbean to offer digital public services. However, there is scarce evidence regarding the benefits and costs of potential projects which makes it difficult for governments in the region to prioritize digital projects for implementation. As part of the report titled “Digitalizing Public Services: Opportunities for Latin America and the Caribbean,” produced by the Inter-American Development Bank (Cristia and Vlaicu, 2022), a set of cost-benefit analyses of the digital public services were performed. The present document complements the mentioned report by presenting the methodology, assumptions, and results of these cost-benefit analyses. To increase the comparability of the results across digital public services evaluated, common assumptions and a standardized methodology were used. Moreover, contextual conditions were fixed across projects by estimating results for a base country, Peru. The robustness of the results were examined by replicating the analysis for Chile, El Salvador, and Jamaica. Digital public services were evaluated in three sectors: education, health and government administrative services (e.g. production of identity cards). For each sector, the benefits and costs of two digital projects were estimated. For some these digital projects, only one policy option was assessed but, in other cases, several policy options were analyzed. A total of 11 policy options were assessed as part of this exercise. Results indicate that, in general, the policy options analyzed produced positive net present values. However, there is wide variation in the net present value across policy options suggesting that governments should carefully evaluate which digital public services they should prioritize for implementation.
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Management options for a resident Barnacle Goose (Branta leucopsis) population in Flanders. A comparison of different scenarios using population modelling. Instituut voor Natuur- en Bosonderzoek, 2020. http://dx.doi.org/10.21436/inbor.17611440.
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Public investment profile for climate risk reduction in Barbados: a macroeconomic cost-benefit analysis for reducing the socio-economic risk of coastal erosion. Inter-American Development Bank, December 2021. http://dx.doi.org/10.18235/0003915.
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The “Study on Disaster Risk Management A macroeconomic cost-benefit analysis for reducing the socio-economic risk of coastal erosion”, a dynamic modelling approach was developed to quantify the macroeconomic costs and benefits of investment in disaster risk reduction. The goal of the developed tool was multifaceted, with emphasis on assessing mixes of disaster risk reduction and financial protection instruments, and with a focus on addressing shortfalls in current disaster risk modelling methods. This work serves as the final report of the project and presents the results of an application of the developed Dynamic Model of Multi-hazard Mitigation Co-benefits (DYNAMMICs) framework to the country case of Barbados, demonstrating the applicability of the approach through empirical assessment of DRR investment options to combat coastal hazards facing the island country.
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CHARACTERISATION OF THE BEHAVIOUR OF BEAM-TO-COLUMN STEEL JOINTS UP TO FAILURE. The Hong Kong Institute of Steel Construction, September 2022. http://dx.doi.org/10.18057/ijasc.2022.18.3.5.
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The design of steel joints is currently dealt with in Eurocode 3 through the well-known “component method”. In particular, Part 1-8 of this standard provides guidance on how to apply the method to a wide range of joint configurations allowing to assess the latter’s initial rotational stiffness and resistance. Nonetheless, whenever a global structural plastic analysis is contemplated, provisions of Eurocode 3 are insufficient since no clear guidance on how to determine the ultimate resistance and the ultimate rotation capacity of joints is provided. In this paper, the full-range behaviour of beam-to-column steel joints is investigated using experimental, analytical, and numerical methods. A new analytical approach based on the component method is proposed and validated against five physical experiments. Through additional analytical expressions for the characterisation of basic components of steel joints, the proposed approach extends the applicability of the component method such that strain-hardening and ductility of components are accounted for. The results show a good agreement between the analytical prediction and the experimental results and also highlight specific limitations of the classical component method. Three-dimensional finite element (FE) models are also employed to simulate the behaviour of the tested beam-to-column joints. The results prove the accuracy of numerical models to simulate the non-linear response of steel joints emphasizing, however, the importance of proper modelling assumptions.