Document
... • ChildCut of node x is TRUE iff one of the children of node x was cut off after the most recent time x was made the child of its current parent. • Whenever a delete or decrease-key operation deletes a node q that is not a min tree root from its doubly linked list, then the cascading cut step is inv ...
... • ChildCut of node x is TRUE iff one of the children of node x was cut off after the most recent time x was made the child of its current parent. • Whenever a delete or decrease-key operation deletes a node q that is not a min tree root from its doubly linked list, then the cascading cut step is inv ...
The Effect of Interest Rate Options Hedging on Term
... rate volatility risk to trade and transfer this risk to someone else. In practice, the “someone else” has proved to be the trading units of large financial intermediaries that acquire exposure to interest rate volatility by selling interest rate options to their customers and are more likely to hedg ...
... rate volatility risk to trade and transfer this risk to someone else. In practice, the “someone else” has proved to be the trading units of large financial intermediaries that acquire exposure to interest rate volatility by selling interest rate options to their customers and are more likely to hedg ...
Presentation
... An AR(1) stochastic component to log earnings with r = 0.95 and s drawn from a uniform distribution on [0.05, 0.20] Backcast to 21 and forecast to 67. Even for a single cohort, this is a very stylized model. ...
... An AR(1) stochastic component to log earnings with r = 0.95 and s drawn from a uniform distribution on [0.05, 0.20] Backcast to 21 and forecast to 67. Even for a single cohort, this is a very stylized model. ...
Lecture 5 (linked lists and vectors)
... In operation insertAtRank(r, o), we need to make room for the new element by shifting forward the n − r elements V[r], …, V[n − 1] In the worst case (r = 0), this takes O(n) time ...
... In operation insertAtRank(r, o), we need to make room for the new element by shifting forward the n − r elements V[r], …, V[n − 1] In the worst case (r = 0), this takes O(n) time ...
Algoritmos y Programacion II
... A dynamic array is a data structure that allocates all elements contiguously in memory, and keeps a count of the current number of elements. If the space reserved for the dynamic array is exceeded, it is reallocated and (possibly) copied, an expensive operation. Linked lists have several advantages ...
... A dynamic array is a data structure that allocates all elements contiguously in memory, and keeps a count of the current number of elements. If the space reserved for the dynamic array is exceeded, it is reallocated and (possibly) copied, an expensive operation. Linked lists have several advantages ...
Income as the Source of Long-Term Returns
... significantly if long term is redefined from five years to 20 years or more. While our data would allow even longer horizons than 20 years, we consider that length of period to be a reasonable practical maximum for most institutional and individual investors. For reference, all return series measure ...
... significantly if long term is redefined from five years to 20 years or more. While our data would allow even longer horizons than 20 years, we consider that length of period to be a reasonable practical maximum for most institutional and individual investors. For reference, all return series measure ...
5 Binary Trees
... tends to be error prone. While preorder2 insures that no recursive calls will be made on empty subtrees, it will fail if the initial call passes in a NULL pointer. This would occur if the original tree is empty. To avoid the bug, either preorder2 needs an additional test for a NULL pointer at the be ...
... tends to be error prone. While preorder2 insures that no recursive calls will be made on empty subtrees, it will fail if the initial call passes in a NULL pointer. This would occur if the original tree is empty. To avoid the bug, either preorder2 needs an additional test for a NULL pointer at the be ...
Data Structures and Algorithms
... A traversal (circumnavigation) algorithm is a method for processing a data structure that applies a given operation to each element of the structure. For example, if the operation is to print the contents of the element, then the traversal would print every element in the structure. The process of a ...
... A traversal (circumnavigation) algorithm is a method for processing a data structure that applies a given operation to each element of the structure. For example, if the operation is to print the contents of the element, then the traversal would print every element in the structure. The process of a ...
An Equilibrium Model of Catastrophe Insurance Futures and Spreads
... reinsurance arrangements, insurance futures do not focus on a particular type of policy but rather on particular types of losses. Losses included in the pool consist of all property losses incurred by the reporting companies arising from perils of windstrom, hail, earthquake, riot, and flood. Report ...
... reinsurance arrangements, insurance futures do not focus on a particular type of policy but rather on particular types of losses. Losses included in the pool consist of all property losses incurred by the reporting companies arising from perils of windstrom, hail, earthquake, riot, and flood. Report ...
State-dependent fees for variable annuity guarantees
... All authors acknowledge support from NSERC and from the Society of Actuaries Centers of Actuarial Excellence Research Grant. A. MacKay also acknowledges the support of the FQRNT and of the Hickman scholarship of the Society of Actuaries. The authors would like to thank A. Kolkiewicz, I. Karatzas, F. ...
... All authors acknowledge support from NSERC and from the Society of Actuaries Centers of Actuarial Excellence Research Grant. A. MacKay also acknowledges the support of the FQRNT and of the Hickman scholarship of the Society of Actuaries. The authors would like to thank A. Kolkiewicz, I. Karatzas, F. ...
Option Pricing Theory and Applications
... Minority active holdings, in which case the share of equity income is shown in the income statements Majority active holdings, in which case the financial statements are consolidated. ...
... Minority active holdings, in which case the share of equity income is shown in the income statements Majority active holdings, in which case the financial statements are consolidated. ...
From Cash-in-the-Market Pricing to Financial Fragility
... consumers, who only value immediate consumption, or late consumers, who only value future consumption. (iii) Intermediaries are modeled as risksharing institutions that provide liquidity insurance to consumers. Intermediaries pool the consumers’ endowments and invest them in a mixture of short-term ...
... consumers, who only value immediate consumption, or late consumers, who only value future consumption. (iii) Intermediaries are modeled as risksharing institutions that provide liquidity insurance to consumers. Intermediaries pool the consumers’ endowments and invest them in a mixture of short-term ...
AVL Trees Extra - Classes
... Standard input (stdin): usually input from the keyboard. Standard output (stdout): usually output to the text terminal (the screen). Standard error (stderr): to output error messages or diagnostics. Usually output to the screen also. ...
... Standard input (stdin): usually input from the keyboard. Standard output (stdout): usually output to the text terminal (the screen). Standard error (stderr): to output error messages or diagnostics. Usually output to the screen also. ...
James-MacKinnon-Presentation
... How much money could we lose today? You need a time period, a confidence level, and a loss amount What is possibility that a portfolio could lose a certain amount of money over the next 24 hours with a 95% probability? - Example: a portfolio with a one-day 95% VaR of $ 1 MM: there is a 0.05 pr ...
... How much money could we lose today? You need a time period, a confidence level, and a loss amount What is possibility that a portfolio could lose a certain amount of money over the next 24 hours with a 95% probability? - Example: a portfolio with a one-day 95% VaR of $ 1 MM: there is a 0.05 pr ...
The move to multi-factor investing: what every investor
... schemes, the limits of space require us to simplify the question: do you optimise or not? At a high level, the optimisation question can be regarded in the same light as the factor definition question: there is either a simple and transparent way of defining the problem, or a more sophisticated and ...
... schemes, the limits of space require us to simplify the question: do you optimise or not? At a high level, the optimisation question can be regarded in the same light as the factor definition question: there is either a simple and transparent way of defining the problem, or a more sophisticated and ...
SVP-SV and Rising Interest Rates.indd
... Stable value seeks to achieve its objectives by investing in short-to-intermediate duration fixed income securities paired with stable value investment contracts (also commonly known in the industry as “wrap” agreements). Given that market interest rates are near all time lows, many investors see a ...
... Stable value seeks to achieve its objectives by investing in short-to-intermediate duration fixed income securities paired with stable value investment contracts (also commonly known in the industry as “wrap” agreements). Given that market interest rates are near all time lows, many investors see a ...
Lattice model (finance)
For other meanings, see lattice model (disambiguation)In finance, a lattice model [1] is a technique applied to the valuation of derivatives, where, because of path dependence in the payoff, 1) a discretized model is required and 2) Monte Carlo methods fail to account for optimal decisions to terminate the derivative by early exercise. For equity options, a typical example would be pricing an American option, where a decision as to option exercise is required at ""all"" times (any time) before and including maturity. A continuous model, on the other hand, such as Black Scholes, would only allow for the valuation of European options, where exercise is on the option's maturity date. For interest rate derivatives lattices are additionally useful in that they address many of the issues encountered with continuous models, such as pull to par.