A model-free approach to continuous-time finance [PDF]
Mathematical Finance (2023), 2022 We present a non-probabilistic, pathwise approach to continuous-time finance based on causal functional calculus. We introduce a definition of self-financing, free from any integration concept and show that the value of a self-financing portfolio is a pathwise integral (every self-financing strategy is a gradient) and that generic domain of functional ...
arxiv +1 more source
International Trade Finance from the Origins to the Present: Market Structures, Regulation and Governance [PDF]
Eric Brousseau, Jean-Michel Glachant, J{\'e}r{\^o}me Sgard. The
Oxford Handbook of Institutions of International Economic Governance and
Market Regulation, Oxford University Press, In press, 9780190900571, 2020 This chapter presents a history of international trade finance - the oldest domain of international finance - from its emergence in the Middle Ages up to today. We describe how the structure and governance of the global trade finance market changed over time and how trade credit instruments evolved.
arxiv +1 more source
The rise of digital finance: Financial inclusion or debt trap [PDF]
Finance Research Letters, 2021, 102604, 2022 This study focuses on the impact of digital finance on households. While digital finance has brought financial inclusion, it has also increased the risk of households falling into a debt trap. We provide evidence that supports this notion and explain the channel through which digital finance increases the likelihood of financial distress.
arxiv +1 more source
Potential utilization of Battery Energy Storage Systems (BESS) in the major European electricity markets [PDF]
, 2021 Given the declining cost of battery technology in the last decade, nowadays BESS becomes a more attractive solution in electrical power systems. The objective of this work is to analyze the potential utilization of BESS in the major European electricity markets.
arxiv +1 more source
Hoyle-Lyttleton Accretion onto Accretion Disks [PDF]
Publ.Astron.Soc.Jap. 51 (1999) 151, 1999 We investigate Hoyle-Lyttleton accretion for the case where the central source is a luminous accretion disk. %In classical Hoyle-Lyttleton accretion onto a ``spherical'' source, accretion takes place in an axially symmetric manner around a so-called accretion axis. The accretion rate of the classical Hoyle-Lyttleton accretion onto a non-luminous object
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Hybrid methods in planetesimal dynamics: Formation of protoplanetary systems and the mill condition [PDF]
, 2013 The formation and evolution of protoplanetary discs remains a challenge from both a theoretical and numerical standpoint. In this work we first perform a series of tests of our new hybrid algorithm presented in Glaschke, Amaro-Seoane and Spurzem 2011 ...
Amaro-Seoane, Pau +2 more
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Boosted Tidal Disruption by Massive Black Hole Binaries During Galaxy Mergers FROM The View of N-Body Simulation [PDF]
, 2016 Supermassive black hole binaries (SMBHBs) are productions of the hierarchical galaxy formation model. There are many close connections between central SMBH and its host galaxy because the former plays very important roles on the formation and evolution ...
Berczik, Peter +3 more
core +3 more sources
Incorporating sufficient physical information into artificial neural networks: a guaranteed improvement via physics-based Rao-Blackwellization [PDF]
arXiv, 2023 The concept of Rao-Blackwellization is employed to improve predictions of artificial neural networks by physical information. The error norm and the proof of improvement are transferred from the original statistical concept to a deterministic one, using sufficient information on physics-based conditions.
arxiv
Long Term Spectral Evolution of Tidal Disruption Candidates Selected by Strong Coronal Lines [PDF]
, 2013 We present results of follow-up optical spectroscopic observations of seven rare, extreme coronal line emitting galaxies reported by Wang et al. (2012) with Multi-Mirror Telescope (MMT). Large variations in coronal lines are found in four objects, making
Ferland, Gary +5 more
core +3 more sources
Effects of rotation and magnetic field on the revival of a stalled shock in supernova explosions [PDF]
, 2018 We investigate axisymmetric steady solutions of (magneto)hydrodynamics equations that describe approximately accretion flows through a standing shock wave and discuss the effects of rotation and magnetic field on the revival of the stalled shock wave in supernova explosions. We develop a new powerful numerical method to calculate the 2-dimensional (2D)
arxiv +1 more source