Quanto options allow the buyer to exchange the foreign currency payoff into the domestic currency at a fixed exchange rate. We investigate quanto options with multiple underlying assets valued in different foreign cur...Quanto options allow the buyer to exchange the foreign currency payoff into the domestic currency at a fixed exchange rate. We investigate quanto options with multiple underlying assets valued in different foreign currencies each with a different strike price in the payoff function. We carry out a comparative performance analysis of different stochastic volatility (SV), stochastic correlation (SC), and stochastic exchange rate (SER) models to determine the best combination of these models for Monte Carlo (MC) simulation pricing. In addition, we test the performance of all model variants with constant correlation as a benchmark. We find that a combination of GARCH-Jump SV, Weibull SC, and Ornstein Uhlenbeck (OU) SER performs best. In addition, we analyze different discretization schemes and their results. In our simulations, the Milstein scheme yields the best balance between execution times and lower standard deviations of price estimates. Furthermore, we find that incorporating mean reversion into stochastic correlation and stochastic FX rate modeling is beneficial for MC simulation pricing. We improve the accuracy of our simulations by implementing antithetic variates variance reduction. Finally, we derive the correlation risk parameters Cora and Gora in our framework so that correlation hedging of quanto options can be performed.展开更多
In this paper,we incorporate Markov regime-switching into a two-factor stochastic volatility jump-diffusion model to enhance the pricing of power options.Furthermore,we assume that the interest rates and the jump inte...In this paper,we incorporate Markov regime-switching into a two-factor stochastic volatility jump-diffusion model to enhance the pricing of power options.Furthermore,we assume that the interest rates and the jump intensities of the assets are stochastic.Under the proposed framework,first,we derive the analytical pricing formula for power options by using Fourier transform technique,Esscher transform and characteristic function.Then we provide the efficient approximation to calculate the analytical pricing formula of power options by using the FFT approach and examine the accuracy of the approximation by Monte Carlo simulation.Finally,we provide some sensitivity analysis of the model parameters to power options.Numerical examples show this model is suitable for empirical work in practice.展开更多
The aim of this paper is to price power option with its underlying asset price following exponential normal inverse gaussian(NIG)process.We first find the risk neutral equivalent martingale measure Q by Esscher transf...The aim of this paper is to price power option with its underlying asset price following exponential normal inverse gaussian(NIG)process.We first find the risk neutral equivalent martingale measure Q by Esscher transform.Then,using the Fourier transform and its inverse,we derive the analytical pricing formulas of power options which are expressed in the form of Fourier integral.In addition,the fast Fourier transform(FFT)algorithm is applied to calculate these pricing formulas.Finally,Shangzheng 50ETF options are chosen to test our results.Estimating the parameters in NIG process by maximum likelihood method,we show that the NIG prices are much closer to market prices than the Black-Scholes-Merton(BSM)ones.展开更多
This paper employs the PPO(Proximal Policy Optimization) algorithm to study the risk hedging problem of the Shanghai Stock Exchange(SSE) 50ETF options. First, the action and state spaces were designed based on the cha...This paper employs the PPO(Proximal Policy Optimization) algorithm to study the risk hedging problem of the Shanghai Stock Exchange(SSE) 50ETF options. First, the action and state spaces were designed based on the characteristics of the hedging task, and a reward function was developed according to the cost function of the options. Second, combining the concept of curriculum learning, the agent was guided to adopt a simulated-to-real learning approach for dynamic hedging tasks, reducing the learning difficulty and addressing the issue of insufficient option data. A dynamic hedging strategy for 50ETF options was constructed. Finally, numerical experiments demonstrate the superiority of the designed algorithm over traditional hedging strategies in terms of hedging effectiveness.展开更多
From AR-enhanced picture books to eco-friendly smart toys,the items now filling children’s shopping carts are more than just products-they epitomize the transformation of consumption in the new era.
时序抽象作为分层强化学习的重要研究内容,允许分层强化学习智能体在不同的时间尺度上学习策略,可以有效解决深度强化学习难以处理的稀疏奖励问题。如何端到端地学习到优秀的时序抽象策略一直是分层强化学习研究面临的挑战。Option-Crit...时序抽象作为分层强化学习的重要研究内容,允许分层强化学习智能体在不同的时间尺度上学习策略,可以有效解决深度强化学习难以处理的稀疏奖励问题。如何端到端地学习到优秀的时序抽象策略一直是分层强化学习研究面临的挑战。Option-Critic(OC)框架在Option框架的基础上,通过策略梯度理论,可以有效解决此问题。然而,在策略学习过程中,OC框架会出现Option内部策略动作分布变得十分相似的退化问题。该退化问题影响了OC框架的实验性能,导致Option的可解释性变差。为了解决上述问题,引入互信息知识作为内部奖励,并提出基于互信息优化的Option-Critic算法(Option-Critic Algorithm with Mutual Information Optimization,MIOOC)。MIOOC算法结合了近端策略Option-Critic(Proximal Policy Option-Critic,PPOC)算法,可以保证下层策略的多样性。为了验证算法的有效性,把MIOOC算法和几种常见的强化学习方法在连续实验环境中进行对比实验。实验结果表明,MIOOC算法可以加快模型学习速度,实验性能更优,Option内部策略更有区分度。展开更多
In this paper,we consider the price of catastrophe options with credit risk in a regime-switching model.We assume that the macroeconomic states are described by a continuous-time Markov chain with a finite state space...In this paper,we consider the price of catastrophe options with credit risk in a regime-switching model.We assume that the macroeconomic states are described by a continuous-time Markov chain with a finite state space.By using the measure change technique,we derive the price expressions of catastrophe put options.Moreover,we conduct some numerical analysis to demonstrate how the parameters of the model affect the price of the catastrophe put option.展开更多
The Optional Protocol to the International Covenant on Economic,Social and Cultural Rights(hereinafter referred to as the“Optional Protocol”),aimed at resolving the challenges surrounding the justiciability of econo...The Optional Protocol to the International Covenant on Economic,Social and Cultural Rights(hereinafter referred to as the“Optional Protocol”),aimed at resolving the challenges surrounding the justiciability of economic,social and cultural rights(ESCR),has been in effect for 11 years.However,this does not signify a definitive resolution of the justiciability dilemma.A review of the Covenant’s negotiation history reveals that states reached a valuable consensus on the justiciability of ESCR in domestic law.However,significant concerns persist,regarding the scope,methods,and standards of admissibility,as well as substantive issues in international the justiciability in international law.Since the adoption of the Optional Protocol,its acceptance and the operation of individual communication procedures have been far from ideal,further exacerbating the justiciability challenges of ESCR in international law.To address these challenges,individual communication procedures concerning ESCR must strike a balance between international oversight and national sovereignty.In terms of procedural issues,the Committee on Economic,Social and Cultural Rights(“the Committee”)should fully leverage admissibility criteria to screen individual communications and ensure procedural safeguards,while adhering to the boundaries of responsibilities within international human rights monitoring mechanisms.In terms of substantive issues,the Committee should further clarify the“reasonableness standard”as the substantive review criterion,avoiding ceiling-like requirements for contract states and minimizing interference with their discretion.This approach would allow the development of a predictable standard of review that combines stability and flexibility.展开更多
Based on option-critic algorithm,a new adversarial algorithm named deterministic policy network with option architecture is proposed to improve agent's performance against opponent with fixed offensive algorithm.A...Based on option-critic algorithm,a new adversarial algorithm named deterministic policy network with option architecture is proposed to improve agent's performance against opponent with fixed offensive algorithm.An option network is introduced in upper level design,which can generate activated signal from defensive and of-fensive strategies according to temporary situation.Then the lower level executive layer can figure out interactive action with guidance of activated signal,and the value of both activated signal and interactive action is evaluated by critic structure together.This method could release requirement of semi Markov decision process effectively and eventually simplified network structure by eliminating termination possibility layer.According to the result of experiment,it is proved that new algorithm switches strategy style between offensive and defensive ones neatly and acquires more reward from environment than classical deep deterministic policy gradient algorithm does.展开更多
BACKGROUND Unroofed coronary sinus(UCS)is a rare subtype of atrial septal defect.It is frequently associated with a persistent left superior vena cava and is often part of a more intricate cardiac malformation.CASE SU...BACKGROUND Unroofed coronary sinus(UCS)is a rare subtype of atrial septal defect.It is frequently associated with a persistent left superior vena cava and is often part of a more intricate cardiac malformation.CASE SUMMARY This report describes a rare case of an adolescent patient with UCS featuring atrial situs solitus,absence of the right superior vena cava and a persistent left superior vena cava draining into the left atrium consistent with total unroofing of the coronary sinus.This was associated with concurrent severe mitral insufficiency secondary to redundant and prolapsing leaflets,and a substantial left-to-right shunt across the coronary sinus orifice.A comprehensive examination of the existing literature is included,shedding light on the diagnostic challenges of UCS and describing the available surgical options within the context of mitral valve surgery.CONCLUSION UCS is a complex condition requiring careful consideration of associated anomalies and a tailored surgical approach.展开更多
Spatio-temporal variability and dynamics in Sahelian agro-pastoral zones make each local situation a special case. These specificities must be considered to guide the dissemination of agricultural options with a view ...Spatio-temporal variability and dynamics in Sahelian agro-pastoral zones make each local situation a special case. These specificities must be considered to guide the dissemination of agricultural options with a view to sustainable development. The territorial scale of municipalities is not sufficient for this necessary contextualization;the scale of the “village terroir” seems to be a better option. This is the hypothesis we put forward in the framework of the Global Collaboration for Resilient Food Systems program (CRFS), i.e. local context is spatially defined by village terroir. The study is based on data collected through participatory mapping and surveys in “village terroirs” in three regions of Niger (Maradi, Dosso and Tillabéri). Then the links between farm managers and their cultivated land, as well as the spatio-temporal dynamics of local context are analyzed. This study provides evidence of the existence and functional usefulness of the village terroir for farmers, their land management and their activities. It demonstrates the usefulness of contextualizing agricultural options at this scale. Their analysis elucidates the links between “terroirs village” and the specific functioning of the agrosocio-ecosystems acting on each of them, thus laying the systemic and geographical foundations for a model of the spatio- temporal dynamics of “village terroirs”. This initial work has opened up new perspectives in modeling and sustainable development.展开更多
Transdermal medications are an useful yet underutilized tool in the field of psychiatry.Despite numerous advantages of using this route of medication delivery,transdermal medications remain less popular compared to ot...Transdermal medications are an useful yet underutilized tool in the field of psychiatry.Despite numerous advantages of using this route of medication delivery,transdermal medications remain less popular compared to other routes of medication administration such as oral and intramuscular routes in the management of various psychiatric conditions.In this editorial,we examine the advantages of transdermal medications with a brief overview of transdermal being used in psychiatry and other medical specialties.We discuss the factors that play a role in their limited usage in psychiatry.We highlight certain patient categories who can specifically benefit from them and discuss potential solutions that can broaden the perspective of treating clinicians making this an intriguing avenue in the field of psychiatry.展开更多
Over the past 20 years,the incidence and prevalence of type 2 diabetes mellitus(T2DM)in children and adolescents have increased,particularly in racial and ethnic minorities.Despite the rise in T2DM in children and ado...Over the past 20 years,the incidence and prevalence of type 2 diabetes mellitus(T2DM)in children and adolescents have increased,particularly in racial and ethnic minorities.Despite the rise in T2DM in children and adolescents,the pathophysiology and progression of disease in this population are not clearly understood.Youth-onset T2DM has a more adverse clinical course than is seen in those who develop T2DM in adulthood or those with T1DM.Furthermore,the available therapeutic options are more limited for children and adolescents with T2DM compared to adult patients,mostly due to the challenges of implementing clinical trials.A better understanding of the mechanisms underlying the development and aggressive disease phenotype of T2DM in youth is important to finding effective prevention and management strategies.This review highlights the key evidence about T2DM in children and adolescents and its current burden and challenges both in clinical care and research activities.展开更多
The yield on the 10-year U.S.Treasury Note is among the most cited interest rates by investors,policymakers,and financial institutions.We show that the 10-year Treasury yield’s forward-looking volatility,a VIX-style ...The yield on the 10-year U.S.Treasury Note is among the most cited interest rates by investors,policymakers,and financial institutions.We show that the 10-year Treasury yield’s forward-looking volatility,a VIX-style measure that is a proxy for uncertainty about future interest rates,is a useful state variable capable of predicting the returns and volatility of crude oil prices over the near term.Using monthly data from 2003 to 2020,we document that higher implied volatility in the 10-year U.S.Treasury derivatives market predicts declining oil prices and higher forward-looking volatility in those prices.Our results are robust to different subsamples and various empirical designs.展开更多
Venture capital investments are characterized by high input,high yield,and high risk.Due to the complexity of the market environment,stage-by-stage investment is becoming increasingly important.Traditional evaluation ...Venture capital investments are characterized by high input,high yield,and high risk.Due to the complexity of the market environment,stage-by-stage investment is becoming increasingly important.Traditional evaluation methods like comparison,proportion,maturity,internal rate of return,scenario analysis,decision trees,and net present value cannot fully consider the uncertainty and stage characteristics of the project.The fuzzy real options method addresses this by combining real option theory,fuzzy number theory,and composite option theory to provide a more accurate and objective evaluation of Public-Private Partnership(PPP)projects.It effectively considers the interaction of options and the ambiguity of project parameters,making it a valuable tool for project evaluation in the context of venture capital investment.展开更多
In the FinTech era,we contribute to the literature by studying the pricing of Bitcoin options,which is timely and important given that both Nasdaq and the CME Group have started to launch a variety of Bitcoin derivati...In the FinTech era,we contribute to the literature by studying the pricing of Bitcoin options,which is timely and important given that both Nasdaq and the CME Group have started to launch a variety of Bitcoin derivatives.We find pricing errors in the presence of market smiles in Bitcoin options,especially for short-maturity ones.Long-maturity options display more of a“smirk”than a smile.Additionally,the ARJI-EGARCH model provides a better overall fit for the pricing of Bitcoin options than the other ARJI-GARCH type models.We also demonstrate that the ARJI-GARCH model can provide more precise pricing of Bitcoin and its options than the SVCJ model in term of the goodness-of-fit in forecasting.Allowing for jumps is crucial for modeling Bitcoin options as we find evidence of time-varying jumps.Our empirical results demonstrate that the realized jump variation can describe the volatility behavior and capture the jump risk dynamics in Bitcoin and its options.展开更多
There has been a growing trend toward fast food consumption in Saudi Arabia, especially among students. Although fast foods are high in calories, they are not nutritious. So, the frequent intake or consumption of fast...There has been a growing trend toward fast food consumption in Saudi Arabia, especially among students. Although fast foods are high in calories, they are not nutritious. So, the frequent intake or consumption of fast food is associated with many health problems, such as obesity, type 2 diabetes, and other cardiovascular diseases. As fast food consumption significantly increases, obesity and other health conditions become prevalent. This research aims to identify the intake and frequency of fast food meals among the students at the health campus (Jazan University) and its impact on their health. The researchers conducted a cross-sectional study at the health campus of Jazan University, Saudi Arabia, to investigate female college students’ consumption and frequency of fast-food meals. Fast food is a common activity among female students at The Health Campus in Jazan, with only 15% of students being overweight or obese. Studies have found that college students consume much fast food, particularly twice a week, and choose lower-fat options to limit their fat intake.展开更多
文摘Quanto options allow the buyer to exchange the foreign currency payoff into the domestic currency at a fixed exchange rate. We investigate quanto options with multiple underlying assets valued in different foreign currencies each with a different strike price in the payoff function. We carry out a comparative performance analysis of different stochastic volatility (SV), stochastic correlation (SC), and stochastic exchange rate (SER) models to determine the best combination of these models for Monte Carlo (MC) simulation pricing. In addition, we test the performance of all model variants with constant correlation as a benchmark. We find that a combination of GARCH-Jump SV, Weibull SC, and Ornstein Uhlenbeck (OU) SER performs best. In addition, we analyze different discretization schemes and their results. In our simulations, the Milstein scheme yields the best balance between execution times and lower standard deviations of price estimates. Furthermore, we find that incorporating mean reversion into stochastic correlation and stochastic FX rate modeling is beneficial for MC simulation pricing. We improve the accuracy of our simulations by implementing antithetic variates variance reduction. Finally, we derive the correlation risk parameters Cora and Gora in our framework so that correlation hedging of quanto options can be performed.
文摘In this paper,we incorporate Markov regime-switching into a two-factor stochastic volatility jump-diffusion model to enhance the pricing of power options.Furthermore,we assume that the interest rates and the jump intensities of the assets are stochastic.Under the proposed framework,first,we derive the analytical pricing formula for power options by using Fourier transform technique,Esscher transform and characteristic function.Then we provide the efficient approximation to calculate the analytical pricing formula of power options by using the FFT approach and examine the accuracy of the approximation by Monte Carlo simulation.Finally,we provide some sensitivity analysis of the model parameters to power options.Numerical examples show this model is suitable for empirical work in practice.
基金Supported by National Natural Science Foundation of China(11571089,11501164)Natural Science Founda-tion of Hebei Province(A2019205299)+1 种基金the Foundation of Hebei Education Department(ZD2018065,ZD2019053)Hebei Normal University(L2019Z01).
文摘The aim of this paper is to price power option with its underlying asset price following exponential normal inverse gaussian(NIG)process.We first find the risk neutral equivalent martingale measure Q by Esscher transform.Then,using the Fourier transform and its inverse,we derive the analytical pricing formulas of power options which are expressed in the form of Fourier integral.In addition,the fast Fourier transform(FFT)algorithm is applied to calculate these pricing formulas.Finally,Shangzheng 50ETF options are chosen to test our results.Estimating the parameters in NIG process by maximum likelihood method,we show that the NIG prices are much closer to market prices than the Black-Scholes-Merton(BSM)ones.
基金supported by the Foundation of Key Laboratory of System Control and Information Processing,Ministry of Education,China,Scip20240111Aeronautical Science Foundation of China,Grant 2024Z071108001the Foundation of Key Laboratory of Traffic Information and Safety of Anhui Higher Education Institutes,Anhui Sanlian University,KLAHEI18018.
文摘This paper employs the PPO(Proximal Policy Optimization) algorithm to study the risk hedging problem of the Shanghai Stock Exchange(SSE) 50ETF options. First, the action and state spaces were designed based on the characteristics of the hedging task, and a reward function was developed according to the cost function of the options. Second, combining the concept of curriculum learning, the agent was guided to adopt a simulated-to-real learning approach for dynamic hedging tasks, reducing the learning difficulty and addressing the issue of insufficient option data. A dynamic hedging strategy for 50ETF options was constructed. Finally, numerical experiments demonstrate the superiority of the designed algorithm over traditional hedging strategies in terms of hedging effectiveness.
文摘From AR-enhanced picture books to eco-friendly smart toys,the items now filling children’s shopping carts are more than just products-they epitomize the transformation of consumption in the new era.
文摘时序抽象作为分层强化学习的重要研究内容,允许分层强化学习智能体在不同的时间尺度上学习策略,可以有效解决深度强化学习难以处理的稀疏奖励问题。如何端到端地学习到优秀的时序抽象策略一直是分层强化学习研究面临的挑战。Option-Critic(OC)框架在Option框架的基础上,通过策略梯度理论,可以有效解决此问题。然而,在策略学习过程中,OC框架会出现Option内部策略动作分布变得十分相似的退化问题。该退化问题影响了OC框架的实验性能,导致Option的可解释性变差。为了解决上述问题,引入互信息知识作为内部奖励,并提出基于互信息优化的Option-Critic算法(Option-Critic Algorithm with Mutual Information Optimization,MIOOC)。MIOOC算法结合了近端策略Option-Critic(Proximal Policy Option-Critic,PPOC)算法,可以保证下层策略的多样性。为了验证算法的有效性,把MIOOC算法和几种常见的强化学习方法在连续实验环境中进行对比实验。实验结果表明,MIOOC算法可以加快模型学习速度,实验性能更优,Option内部策略更有区分度。
基金supported by the Jiangsu University Philosophy and Social Science Research Project(Grant No.2019SJA1326).
文摘In this paper,we consider the price of catastrophe options with credit risk in a regime-switching model.We assume that the macroeconomic states are described by a continuous-time Markov chain with a finite state space.By using the measure change technique,we derive the price expressions of catastrophe put options.Moreover,we conduct some numerical analysis to demonstrate how the parameters of the model affect the price of the catastrophe put option.
基金a phased achievement of the general project of National Social Science Fund “Research on the Implementation of the Right to Health in the Context of the Synchronous Protection in Public and Private Law”(Project Approval Number 2021BFX169)supported by the Funding Program for the “Peak-Climbing Strategy” in Discipline Development of the Chinese Academy of Social Sciences (Number:DF2023YS34)。
文摘The Optional Protocol to the International Covenant on Economic,Social and Cultural Rights(hereinafter referred to as the“Optional Protocol”),aimed at resolving the challenges surrounding the justiciability of economic,social and cultural rights(ESCR),has been in effect for 11 years.However,this does not signify a definitive resolution of the justiciability dilemma.A review of the Covenant’s negotiation history reveals that states reached a valuable consensus on the justiciability of ESCR in domestic law.However,significant concerns persist,regarding the scope,methods,and standards of admissibility,as well as substantive issues in international the justiciability in international law.Since the adoption of the Optional Protocol,its acceptance and the operation of individual communication procedures have been far from ideal,further exacerbating the justiciability challenges of ESCR in international law.To address these challenges,individual communication procedures concerning ESCR must strike a balance between international oversight and national sovereignty.In terms of procedural issues,the Committee on Economic,Social and Cultural Rights(“the Committee”)should fully leverage admissibility criteria to screen individual communications and ensure procedural safeguards,while adhering to the boundaries of responsibilities within international human rights monitoring mechanisms.In terms of substantive issues,the Committee should further clarify the“reasonableness standard”as the substantive review criterion,avoiding ceiling-like requirements for contract states and minimizing interference with their discretion.This approach would allow the development of a predictable standard of review that combines stability and flexibility.
基金the National Natural Science Foundation of China (No.61673265)the National Key Research and Development Program (No.2020YFC1512203)the Shanghai Commercial Aircraft System Engineering Joint Research Fund (No.CASEF-2022-Z05)。
文摘Based on option-critic algorithm,a new adversarial algorithm named deterministic policy network with option architecture is proposed to improve agent's performance against opponent with fixed offensive algorithm.An option network is introduced in upper level design,which can generate activated signal from defensive and of-fensive strategies according to temporary situation.Then the lower level executive layer can figure out interactive action with guidance of activated signal,and the value of both activated signal and interactive action is evaluated by critic structure together.This method could release requirement of semi Markov decision process effectively and eventually simplified network structure by eliminating termination possibility layer.According to the result of experiment,it is proved that new algorithm switches strategy style between offensive and defensive ones neatly and acquires more reward from environment than classical deep deterministic policy gradient algorithm does.
文摘BACKGROUND Unroofed coronary sinus(UCS)is a rare subtype of atrial septal defect.It is frequently associated with a persistent left superior vena cava and is often part of a more intricate cardiac malformation.CASE SUMMARY This report describes a rare case of an adolescent patient with UCS featuring atrial situs solitus,absence of the right superior vena cava and a persistent left superior vena cava draining into the left atrium consistent with total unroofing of the coronary sinus.This was associated with concurrent severe mitral insufficiency secondary to redundant and prolapsing leaflets,and a substantial left-to-right shunt across the coronary sinus orifice.A comprehensive examination of the existing literature is included,shedding light on the diagnostic challenges of UCS and describing the available surgical options within the context of mitral valve surgery.CONCLUSION UCS is a complex condition requiring careful consideration of associated anomalies and a tailored surgical approach.
文摘Spatio-temporal variability and dynamics in Sahelian agro-pastoral zones make each local situation a special case. These specificities must be considered to guide the dissemination of agricultural options with a view to sustainable development. The territorial scale of municipalities is not sufficient for this necessary contextualization;the scale of the “village terroir” seems to be a better option. This is the hypothesis we put forward in the framework of the Global Collaboration for Resilient Food Systems program (CRFS), i.e. local context is spatially defined by village terroir. The study is based on data collected through participatory mapping and surveys in “village terroirs” in three regions of Niger (Maradi, Dosso and Tillabéri). Then the links between farm managers and their cultivated land, as well as the spatio-temporal dynamics of local context are analyzed. This study provides evidence of the existence and functional usefulness of the village terroir for farmers, their land management and their activities. It demonstrates the usefulness of contextualizing agricultural options at this scale. Their analysis elucidates the links between “terroirs village” and the specific functioning of the agrosocio-ecosystems acting on each of them, thus laying the systemic and geographical foundations for a model of the spatio- temporal dynamics of “village terroirs”. This initial work has opened up new perspectives in modeling and sustainable development.
文摘Transdermal medications are an useful yet underutilized tool in the field of psychiatry.Despite numerous advantages of using this route of medication delivery,transdermal medications remain less popular compared to other routes of medication administration such as oral and intramuscular routes in the management of various psychiatric conditions.In this editorial,we examine the advantages of transdermal medications with a brief overview of transdermal being used in psychiatry and other medical specialties.We discuss the factors that play a role in their limited usage in psychiatry.We highlight certain patient categories who can specifically benefit from them and discuss potential solutions that can broaden the perspective of treating clinicians making this an intriguing avenue in the field of psychiatry.
文摘Over the past 20 years,the incidence and prevalence of type 2 diabetes mellitus(T2DM)in children and adolescents have increased,particularly in racial and ethnic minorities.Despite the rise in T2DM in children and adolescents,the pathophysiology and progression of disease in this population are not clearly understood.Youth-onset T2DM has a more adverse clinical course than is seen in those who develop T2DM in adulthood or those with T1DM.Furthermore,the available therapeutic options are more limited for children and adolescents with T2DM compared to adult patients,mostly due to the challenges of implementing clinical trials.A better understanding of the mechanisms underlying the development and aggressive disease phenotype of T2DM in youth is important to finding effective prevention and management strategies.This review highlights the key evidence about T2DM in children and adolescents and its current burden and challenges both in clinical care and research activities.
文摘The yield on the 10-year U.S.Treasury Note is among the most cited interest rates by investors,policymakers,and financial institutions.We show that the 10-year Treasury yield’s forward-looking volatility,a VIX-style measure that is a proxy for uncertainty about future interest rates,is a useful state variable capable of predicting the returns and volatility of crude oil prices over the near term.Using monthly data from 2003 to 2020,we document that higher implied volatility in the 10-year U.S.Treasury derivatives market predicts declining oil prices and higher forward-looking volatility in those prices.Our results are robust to different subsamples and various empirical designs.
基金The research was funded by VSB-Technical University of Ostrava,the SGS Projects SP2022/58,SP2023/008.Huanyu Li,Ing.,Economic Faculty,VSB-TUO,Ostrava,Czech Republic。
文摘Venture capital investments are characterized by high input,high yield,and high risk.Due to the complexity of the market environment,stage-by-stage investment is becoming increasingly important.Traditional evaluation methods like comparison,proportion,maturity,internal rate of return,scenario analysis,decision trees,and net present value cannot fully consider the uncertainty and stage characteristics of the project.The fuzzy real options method addresses this by combining real option theory,fuzzy number theory,and composite option theory to provide a more accurate and objective evaluation of Public-Private Partnership(PPP)projects.It effectively considers the interaction of options and the ambiguity of project parameters,making it a valuable tool for project evaluation in the context of venture capital investment.
文摘In the FinTech era,we contribute to the literature by studying the pricing of Bitcoin options,which is timely and important given that both Nasdaq and the CME Group have started to launch a variety of Bitcoin derivatives.We find pricing errors in the presence of market smiles in Bitcoin options,especially for short-maturity ones.Long-maturity options display more of a“smirk”than a smile.Additionally,the ARJI-EGARCH model provides a better overall fit for the pricing of Bitcoin options than the other ARJI-GARCH type models.We also demonstrate that the ARJI-GARCH model can provide more precise pricing of Bitcoin and its options than the SVCJ model in term of the goodness-of-fit in forecasting.Allowing for jumps is crucial for modeling Bitcoin options as we find evidence of time-varying jumps.Our empirical results demonstrate that the realized jump variation can describe the volatility behavior and capture the jump risk dynamics in Bitcoin and its options.
文摘There has been a growing trend toward fast food consumption in Saudi Arabia, especially among students. Although fast foods are high in calories, they are not nutritious. So, the frequent intake or consumption of fast food is associated with many health problems, such as obesity, type 2 diabetes, and other cardiovascular diseases. As fast food consumption significantly increases, obesity and other health conditions become prevalent. This research aims to identify the intake and frequency of fast food meals among the students at the health campus (Jazan University) and its impact on their health. The researchers conducted a cross-sectional study at the health campus of Jazan University, Saudi Arabia, to investigate female college students’ consumption and frequency of fast-food meals. Fast food is a common activity among female students at The Health Campus in Jazan, with only 15% of students being overweight or obese. Studies have found that college students consume much fast food, particularly twice a week, and choose lower-fat options to limit their fat intake.
