Erent Models Research Articles

GARCH option pricing models in a South African equity context

In this paper, di erent univariate GARCH option pricing models are applied to the FTSE/JSE Top 40 index to determine the best performing model when modelling the implied South African Volatility Index (SAVI). Three di erent GARCH models (one symmetric and two asymmetric) are considered and three di erent log-likelihood functions are used in the model parameter estimation. Furthermore, the accuracy of each model is tested by comparing the GARCH implied SAVI to the historical SAVI. In addition, the pricing performance of each model is tested by comparing the GARCH implied price to market option prices. The empirical results indicate that the models incorporating asymmetric e ects outperform competing models in terms of pricing performance. Key words: Econometrics, nancial markets, pricing, stochastic processes.

SWITZERLAND AND INDIA AS DIFFERENT MODELS OF ETHNIC FEDERALISM

The ethnic factor is important in the development of federalism. ethno-linguistic architecture and cultural-religious structure are the main elements. Switzerland and India are diff erent models of ethnic federalism. The Swiss model of federalism is cantonal-communal. Switzerland consists of 26 cantons; there is a multi-ethnic composition of the population. Switzerland escaped ethnic separatism. The state has centuries of experience in reconciling linguistic and cultural diff erences. The Indian model is postcolonial. The state is multi-ethnic. Indian federalism is highly centralized. India has a unique ethnic, linguistic and religious composition.

Impact and Benefit Agreement (IBA) Revenue Allocation Strategies for Indigenous Community Development

The Northern Review 47 (2018): 9–29This article analyzes the diff erent modes of resource revenue distribution and their impacts on Indigenous communities and sustainable development. After a literature review of the diff erent distribution models and their positive and negative impacts for communities, we assess each model’s level of sustainability. In the second section, we present the results of a survey and follow-up interviews conducted with twenty-one representatives of the forty-two Canadian First Nations that had signed an Impact and Benefit Agreement by 2016. In most surveyed communities, the trust funds are directly managed by the political authority thus providing no insulation from political influence. The survey also shows that some Indigenous communities are investing in programs that should be funded by the federal and provincial or territorial governments, which attests to the chronic lack of investment in Indigenous communities in Canada. Finally, whatever the choice of distribution mode, in order to foster sustainable development communities need to ensure that the lost natural capital—both non-renewable resources depletion and the environmental damage created by the operations—will be replaced for future generations.

Análisis comparativo y derecho constitucional

El presente trabajo nos presenta una breve –mas no por ello rudimentaria–perspectiva de las bases, los presupuestos, las posibilidades y las limitaciones de lo que la comparación jurídica depara al Derecho constitucional, ofreciéndonos algunos ejemplos concretos.Señalando la comparación jurídica y la viabilidad de una comparación jurídica de corte teórico y otro práctico, pasando por oportunas observaciones de corte metodológico, el maestro boloñés sobresale otorgándonos anotaciones agudas sobre la naturaleza de la comparación jurídica, la definición de su campo.Jurista veterano, de Vergottini resalta las diferentes funciones de los numerosos operadores jurídicos, su papel al utilizar la comparatistica en sus oficios y las prácticas de sustentación y argumentación que emplean, así como lo diferentes modelos y tradiciones que se ha desarrollado alrededor de la materia.

A PRACTICAL APPROACH TO THE GROUND OSCILLATION VELOCITY MEASUREMENT METHOD

The use of an explosive’s energy during blasting includes undesired eff ects on the environment. The seismic infl uence of a blast, as a major undesired eff ect, is determined by many national standards, recommendations and calculations where the main parameter is ground oscillation velocity at the field measurement location. There are a few approaches and methods for calculation of expected ground oscillation velocities according to charge weight per delay and the distance from the blast to the point of interest. Utilizations of these methods and formulas do not provide satisfactory results, thus the measured values on diverse distance from the blast fi eld more or less diff er from values given by previous calculations. Since blasting works are executed in diverse geological conditions, the aim of this research is the development ofa practical and reliable approach which will give a diff erent model for each construction site where blasting works have been or will be executed. The approach is based on a greater number of measuring points in line from the blast fi eld at predetermined distances. This new approach has been compared with other generally used methods and formulas through the use of measurements taken during research along with measurements from several previously executed projects. The results confi rmed that the suggested model gives more accurate values.

Профессионально-личностные компетентности педагога и система учительского роста в условиях обновления практики обучения и воспитания

The article presents a vision of the relationship, the interdependence of the competence paradigm of education and the solution of the problem of professional and personal growth of the teacher, the coordination of diff erent models, stages and forms of teacher training as a result of accumulated and meaningful innovation experience. The necessity of revision of teaching technologies and directions of development of the educational space of the educational organization is underlined. The professionally signifi cant personal qualities of the teacher are revealed. Attention is drawn to the educational aspect and the psychological and pedagogical grounds for the formation of various competencies, to the problems and risks of this approach in modern pedagogical conditions. In this regard, an attempt is made to show the direction of the development of the student’s personality, including through individualization and an individual approach.

Probabilistic seismic hazard analysis using reliability methods

By considering uncertainties in the input parameters (e.g., magnitude, location, wave path, etc.), the Probabilistic Seismic Hazard Analysis (PSHA) aims to compute annual rate of various exceeding ground motions at a site or a map of sites of all anticipated given earthquakes. Uncertainties may be originated due to inherent randomness of the phenomena or variability in the mean values of di erent models parameters, mainly due to use of nite-sample size of observations. The rst, in literature reviews, is commonly named aleatory uncertainty; the second is known as epistemic uncertainty. The total probability numerical integration, generally employed to calculate PSHA, only considers aleatory uncertainties, and variability in the models' parameters is neglected to simplify calculation. In this paper, as an alternative to the total probability numerical integration, matured and standard reliability methods tailored to e ortlessly consider both types ofuncertainties are put forward to compute site-speci c PSHA. Then, as an application study, the peak ground acceleration hazard curve for the site, at which a historical bridge is located, is developed and compared with those obtained from the total probability numerical integration.

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The article is based on the description of the author�s vision of designing a network of educational interaction in the context of socio-pedagogical partnership between the general and further education in line with the realization of extracurricular activities in the conditions of the introduction of the FSES. The paper describes the stages of a network between educational institutions and supplementary education in the fi eld of extracurricular activities teaching, the content of which need a good idea of planning to become a party to the educational network. Performance criteria of socio-pedagogical partnership in the interaction of the general and supplementary education in the conditions of the introduction of the FSES is the availability of functioning network interaction of educational institutions for the implementation of extracurricular activities in the framework of the FSES, involving teaching, psychological and pedagogical, professional, material and technical resources of educational institutions of diff erent levels; development and implementation of educational programs extracurricular activities FSES-based schools; positive dynamics of development of students involved in extracurricular activities; enhance the professional competence of teachers involved in networking through the organization of extracurricular activities in the Context of the FSES. Socio-pedagogical collaboration between the general and further education, the diff erent models of networking between educational institutions in the conditions of the introduction of the FSES helps to provide opportunities for the development of each child on a variety of activities taking into account the orientation of the individual; eff ective organization of extracurricular activities of students in the development of the FSES; empowerment to improve the professional competence of school teachers; meet the requests of professional participants in the educational process. Perspective and practical importance of this activity, which can be called innovative in the light of the modernization of education is the ability to design and realization of diff erent models of network of educational interaction in the framework of the extracurricular activities of students in the conditions of the introduction of the GEF in the educational space of city, region.

Внеурочная деятельность как сфера социально-педагогического партнерства в системе взаимодействия общего и дополнительного образования в условиях введения ФГОС

Article is based on the description of the author’s vision of designing a network of educational interaction in the context of socio-pedagogical partnership between the general and further education in line with the realization of extracurricular activities in the conditions of the introduction of the Federal State Educational Standard (FSES). The paper describes the stages of a network between educational institutions and supplementary education in the fi eld of extracurricular activities teaching, the content of which need a good idea of planning to become a party to the educational network. Performance criteria of socio-pedagogical partnership in the interaction of the general and supplementary education in the introduction of the FSES is
 the availability of functioning network interaction of educational institutions for the implementation of extracurricular activities in the framework of the FSES, involving teaching, psychological and pedagogical, professional, material and technical resources of educational institutions of diff erent levels;
 development and implementation of educational programs extracurricular activities FSES-based schools; positive dynamics of development of students involved in extracurricular activities; enhance the professional competence of teachers involved in networking through the organization of extracurricular activities in the context of the FSESSocio-pedagogical collaboration between the general and further education, the diff erent models of networking between educational institutions in the conditions of the introduction of the FSES helps to provide opportunities for the development of each child on a variety of activities taking into account
 the orientation of the individual; eff ective organization of extracurricular activities of students in the development of the FSES; empowerment to improve the professional competence of school teachers; meet the requests of professional participants in the educational process. Perspective and practical importance of this activity, which can be called innovative in the light of the modernization of education is the ability to design
 and realization of diff erent models of network of educational interaction in the framework of the extracurricular activities of students in the conditions of the introduction of the FSES in the educational space of city, region.

NUMERICAL INVESTIGATION OF INFLUENCE OF HEAT EXCHANGER СHANNEL CURVATURE ON HEAT TRANSFER

In this paper the infl uence of the curvature of the portion of the heat exchanger on heat exchange with the use of software systems Salome Meca and Code Saturne is numerically studied the verifi cation of the numerical model by comparing with experimental data of other researchers without taking into account heat exchange is made. The solution is held for an average fl ow rate equal to 11 m/s. To investigate the infl uence on heat transfer of the curvature of the channel carried out the construction of the computational domain in the form of the heat exchanger of the same length with diff erent turn radius. For discretization of the computational domain were used tetrahedral grids containing approximately 850 thousand of elements with local refi nement near the surface of the channel. As a result of simulation values of the fl ow temperature at the outlet of the channels are obtained. It is revealed that the design of heat exchanger channel, of course, aff ects the heat transfer, as well as data on the applicability of diff erent turbulence models for this type of task are collected.

THE STUDY OF DECOMPOSITION KINETICS OF SUPERCOOLED AUSTENITE OF POWDER STEELS WITH DIFFERENT POROSITY BY SIMULATION MODELING

Thermokinetic diagrams of austenite decomposition are necessary to determine regimes of thermal treatment of steel. Building-up of these diagrams by experiments is diffi cult and labour intensive process. In this work the simulation model of process of phase transformations, taking into account the structure of powder steels, and the methodology for computer experiments with diff erent models of steel cooling are off ered. The proposed model allows to determine the kinetic parameters of austenite decomposition for two values of porosity steel according to the isothermal diagrams, and to predict the kinetics of the transformations in this steel as isothermal and continuous cooling. The adequacy of the model was tested on steels with diff erent porosity using published experimental data.

Fusion: a General Framework for Hierarchical Tilings

One well studied way to construct quasicrystalline tilings is via in ate-and-subdivide (a.k.a. substitution) rules. These produce self-similar tilings the Penrose, octagonal, and pinwheel tilings are famous examples. We present a di erent model for generating hierarchical tilings we call fusion rules . In ate-and-subdivide rules are a special case of fusion rules, but general fusion rules are more exible and allow for defects, changes in geometry, and even constrained randomness. A condition that produces homogeneous structures and a method for computing frequency for fusion tiling spaces are discussed.

Modeling Technological Change in Economic Models of Climate Change: A Survey

The assessment of climate change mitigation policies through economic modeling depends crucially on assumptions under which technological change has been incorporated in the model. Earlier climate-energy-economics modeling attempts heavily relied on the assumption of exogenous technological change. In this case, technological change is a function solely of time. However, such an approach seems insu cient, especially given developments in other elds of economic research that have helped to explain in more detail the process of technological change. A lot of research has been done hence on endogenizing technological change in large-scale models. The purpose of this paper is to summarize these e orts. We describe di erent model types and their treatment of exogenous technological change (autonomous energy e ciency improvements and backstop technologies) and endogenous technological change (including price inducement, learning-by-doing, investments in R & D and directed technical change). We conclude with some open questions and suggestions for future research.

Observing Quantum Level Interference Effects with Electron Spectrometer

The existence of Young-type interference patterns has been recently searched in triple di erential cross-sections for single ionization of H2 molecules by electron impact, and theoretically supported by calculations obtained by di erent models. The appearance of interference e ects arising from the two-centre geometry of diatomic molecule. These e ects seen in triple di erential cross-sections are described by interference factor in analogy with light waves. In this work, we discuss about that the interference factor for molecular structure of H2 may reproduce Young-type interference patterns depending on scattering angle, initial and ejected electron energies in triple di erential cross-sections. Di erences are expected in the triple di erential cross-sections spectra of ejected electrons according to kinematical conditions imposed by scattering angle and electron energy.

Non-SM Exotic Higgs: Beyond SM and MSSM

A review of the searches for exotic Higgs boson beyond standard model and minimal supersymmetric standard model (MSSM), from experiments at the Tevatron and LHC, is presented. Several di erent models have been considered, including extensions to standard model with fourth generation of fermions, fermiophobic Higgs, next-to-MSSM models, seesaw type-II, and rare decay of Higgs boson to hidden sector. For next-to- MSSM models several final states have been considered, including light pseudo-scalar Higgs decay into taus, muons, and photons, as well as charged Higgs boson. The searches has been performed with re-interpretation of results from standard model Higgs search as well as on new signatures.

Testing gravity on Large Scales

We show how it is possible to test general relativity and di erent models of gravity via Redshift-Space Distortions using forthcoming cosmological galaxy surveys. However, the theoretical models currently used to interpret the data often rely on simpli- fications that make them not accurate enough for precise measurements. We will discuss improvements to the theoretical modeling at very large scales, including wide-angle and general relativistic corrections; we then show that for wide and deep surveys those cor- rections need to be taken into account if we want to measure the growth of structures at a few percent level, and so perform tests on gravity, without introducing systematic errors. Finally, we report the results of some recent cosmological model tests carried out using those precise models.

Characterization of quasi-projectiles produced in symmetric collisions studied with INDRA. Comparison with models

The characterization of hot quasi-projectiles produced in symmetric or quasi-symmetric reactions (Au + Au, Xe + Sn, Ni + Ni, Ar + KCl) at di erent incident energies are estimated by means of two di erent procedures. The advantages and disadvantages of each method are analyzed on the basis of simulations using events produced by two slightly di erent models: HIPSE and ELIE.

Data envelopment analysis with outputs uncertainty

This paper presents two diff erent models for Data Envelopment Analysis with uncertain outputs. The corresponding deterministic formulations are obtained via a scenario approach which does not depend on the underlying distribution of data. These models are compared with similar formulations based on an expected value approach and a full computational test is carried out in order to validate them

Comparison of Diff erent Models in Genetic Analysis of Dystocia

Comparison of Diff erent Models in Genetic Analysis of Dystocia

Heat Conduction of 2D Composite Materials with Symmetric Inclusions: a Model and Reduction to a Vector-Matrix Problem

We consider steady potential heat conduction of a cylindrical composite material with the special geometry. The matrix is modelling by the unit disc with di®erent conductivity of six equal sectors. Inclusions (having di®erent conductivity too) are symmetrically situated discs non-intersecting boundary of sectors. Mixed boundary conditions on parts of the boundary of matrix and matrix-inclusions leads to di®erent model of composite materials. A new method to study the corresponding mathematical model is proposed. It is based on the reduction of the problem to the vector-matrix boundary value problem for analytic vectors. The method is connected with the approach by Zhorovina and Mityushev to the study of R-linear boundary value on a fan-shaped domain.