Search results for "Option"

A Sequential Quadratic Programming Method for Volatility Estimation in Option Pricing

2006

Our goal is to identify the volatility function in Dupire's equation from given option prices. Following an optimal control approach in a Lagrangian framework, we propose a globalized sequential quadratic programming (SQP) algorithm with a modified Hessian - to ensure that every SQP step is a descent direction - and implement a line search strategy. In each level of the SQP method a linear-quadratic optimal control problem with box constraints is solved by a primal-dual active set strategy. This guarantees L^1 constraints for the volatility, in particular assuring its positivity. The proposed algorithm is founded on a thorough first- and second-order optimality analysis. We prove the existe…

Un homosexuel célibataire ne peut adopter. - Familles monoparentales et égalité fiscale

1997

International audience

Analyzing the Influence of Diffusion of Innovation Attributes on Lecturers’ Attitude Towards Information and Communication Technologies

2012

This study investigated the influence of the five attributes of diffusion of innovation theory—relative advantage, complexity, compatibility, trialability, and observability—on lecturers’ use of information and communication technologies. A structured questionnaire was used to collect data from 213 lecturers across the seven faculties and one institute at the National University of Lesotho (NUL). Cronbach’s alpha reliability coefficient was used to determine the internal consistency of the instrument; the reliability of the multiple item scales ranged between 0.71 and 0.97. Collected data were first structured into grouped frequency distributions, and stepwise multiple regressions were used…

The Actual Adoption and Use of Mobile Apps : The Case of a Higher Education Context

2020

Mobile applications have gained wide acceptance in several sectors, including eCommerce and education. In higher education, mobile apps are being used not only for mobile learning but also for creating smart campus environments in which physical campuses are augmented with digital services. Mobile apps for smart campus initiatives usually have several features that students and educators are expected to adopt and use. However, although prior studies have investigated the adoption of mobile apps, most of such studies are on the user's intention to use or continue using mobile apps, leaving gaps in our understanding of how actual use occurs. Drawing on a case study of a mobile app for a smart…

The Role of the Exchange Rate Regime in the Process of Real and Nominal Convergence

2013

During the last decade, economists have intensively searched for evidence on the importance of the Balassa-Samuelson (B-S) hypothesis in explaining nominal convergence. One general result is that B-S can at best explain only part of the excess inflation observed in the European catching-up countries, which suggests that other factors may be at play. In these and related studies, however, the potential role of the exchange rate regime in affecting price convergence in Europe has been overlooked. In this respect, we claim that the choice of the exchange rate regime has decisively affected the path of nominal convergence. To show this, we first model the (endogenous) choice of the exchange rat…

Risky choices in strategic environments: An experimental investigation of a real options game

2019

Managers frequently make decisions under conditions of fundamental uncertainty due the stochastic nature of the outcomes and competitive rivalry. In this study, we experimentally test a theoretical model under fundamental uncertainty and competitive rivalry by designing a sequential interaction game between two players. The first mover can decide either to choose a sure outcome that assigns a risky outcome to the second mover or to pass the decision to the second mover. If the second player gets the chance to decide, she can choose between a sure outcome, conditioned by the assignment of a risky payoff to the first mover, or the sharing of the risky outcome with the first mover. We then int…

A real options game of alliance timing decisions in biopharmaceutical research and development

2017

Abstract In this article we examine the alliance timing trade-off facing both pharmaceutical and biotech firms in a stochastic and competitive environment. Specifically, we introduce a real options game (ROG), where a pharmaceutical company can choose between two competing biotech firms by sequentially offering a licensing deal early or late in the new drug development process. We find that, when the alliance raises the drug market value significantly, the agreement is signed late in the drug development process. This suggests that the postponement effect implied by the use of real options prevails over the biotech firms’ competition effect, which would instead play in favor of an early agr…

ProQuest datubāzes lietojamības, derīguma un informācijas meklēšanas iespēju novērtējums

2022

Bakalaura darba ‘’ProQuest datubāzes lietojamības, derīguma un informācijas meklēšanas iespēju novērtējums’’ mērķis bija izpētīt šīs datubāzes lietojamību no studentu viedokļa. Pētījums tika balstīts uz pragmatisma teoriju un Mijiedarbības trīs komponentu modeli. Kā pētīšanas metodes tika izmantotas kontentanalīze un verbālais protokols. Pētījuma rezultāti apstiprināja hipotēzi, ka datubāze ir lietotājiem draudzīga ar plašām meklēšanas iespējām, kuru respondenti pēc uzdevumu veikšanas atzina par noderīgu.

Introducing media education into school teaching. An empirical research among public school teachers in Palermo, Italy

2010

Analysis of the adopting process of a new retailing formule : contribution of the organizational socialisation

2013

This thesis focuses on the analysis of a retailing innovation adoption process by customers. More in particular it examines the effect of Customer Organizational Socialization on the relationship between Relational Satisfaction and Customer Loyalty to a new form of selling.Towards this end, we conducted an exploratory study to identify variables promoting the success of a retailing innovation as well as the adoption and learning processes of a new form of selling. The advantage of our approach lies not only on having surveyed various customers and non-customers groups but also on having observed employees of a "Click and Collect". The first part led to a model of the adoption of a retailing…