• Title/Summary/Keyword: Options

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Options Study for the Neutralization of Elemental Sodium During the Pyroprocessing of Used Nuclear Fuel

  • Westphal, Brian;Tolman, David;Tolman, Kevin;Frank, Steven;Herrmann, Steve;Warmann, Stephen;Marsden, Kenneth;Patterson, Michael
    • Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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    • v.18 no.2
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    • pp.113-118
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    • 2020
  • An options study was performed for the treatment of residual elemental sodium in driver plenums following the chopping operation during the pyroprocessing of used nuclear fuel. Given the pending availability of a multi-function furnace for distillation and consolidation operations in the Fuel Conditioning Facility, the furnace was considered for the processing of driver plenums. Although two options (oxidation and distillation) could be performed in the multi-function furnace, neither option has been developed sufficiently to date to warrant the use of the furnace for treatment operations. Thus, it was decided to defer the treatment of elemental sodium from driver plenums in the multi-function furnace until more developed technologies and/or furnaces become available. In the interim, storage of the plenums and characterization efforts are recommended.

A SURVEY ON AMERICAN OPTIONS: OLD APPROACHES AND NEW TRENDS

  • Ahn, Se-Ryoong;Bae, Hyeong-Ohk;Koo, Hyeng-Keun;Lee, Ki-Jung
    • Bulletin of the Korean Mathematical Society
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    • v.48 no.4
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    • pp.791-812
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    • 2011
  • This is a survey on American options. An American option allows its owner the privilege of early exercise, whereas a European option can be exercised only at expiration. Because of this early exercise privilege American option pricing involves an optimal stopping problem; the price of an American option is given as a free boundary value problem associated with a Black-Scholes type partial differential equation. Up until now there is no simple closed-form solution to the problem, but there have been a variety of approaches which contribute to the understanding of the properties of the price and the early exercise boundary. These approaches typically provide numerical or approximate analytic methods to find the price and the boundary. Topics included in this survey are early approaches(trees, finite difference schemes, and quasi-analytic methods), an analytic method of lines and randomization, a homotopy method, analytic approximation of early exercise boundaries, Monte Carlo methods, and relatively recent topics such as model uncertainty, backward stochastic differential equations, and real options. We also provide open problems whose answers are expected to contribute to American option pricing.

A Modified Real Options Valuation Model for Early Stage Start-Ups in the Game Industry (초기 게임개발사 특성을 고려한 가치평가 모형 연구)

  • Yoo, Changsok;Poe, Baek
    • Journal of Korea Game Society
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    • v.13 no.3
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    • pp.69-76
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    • 2013
  • The financial value of early stage start-up has a tendency to depend more on the non-financial factors, but these are not efficiently reflected in the traditional valuation models. Therefore, most of valuation practices for early stage start-ups heavily relied on the guts of experts. To remedy this, this study suggests a model to directly reflect the non-financial factors especially for the real options approach. Actual process of valuation and the adjustment way were developed considering the characteristics of early stage start-ups in the game industry.

A Study on the Prescriptions in the Five Viscera Section (五臟門) of Euibangyuchui (醫方類聚) - Focusing on the Form of Delivery for Medicinal Prescriptions - (『의방유취(醫方類聚)·오장문(五臟門)』의 처방 분석 -처방 제형을 중심으로 -)

  • Jung, Ji-Hun
    • The Journal of Korean Medical History
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    • v.31 no.1
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    • pp.105-122
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    • 2018
  • Most of the prescriptions currently used by Korean medicine institutions to treat patients are delivered in the form of decoctions. The author reviewed the five-viscera section (五臟門) of Euibangyoochui (醫方類聚), which is composed of theory, medicinals, diet, taboo, acupuncture and moxibustion, and exercises. The medicinals cover a total of 1,144 prescriptions cited from 14 medical books, and provides a wide range of prescriptions and delivery options, including decoctions, powders and pills. Of the 1,144 prescriptions, the author notes that among them, 577 prescriptions which use powders (41%) are the most popular; 444 are pills (31%) and are the second most popular; 329 decoctions (23%) are the third most popular, and 64 other prescriptions are 5 percent. Expanding treatment options and delivery of medicinal prescriptions presented in the five-viscera section (五臟門) of Euibangyoochui (醫方類聚), is beneficial to both patients and doctors. The author suggests that expansion of herbal treatment options will provide opportunities to overcome current treatment limitations in the Korean medical service industry.

2nd Study : A Financial Model to Select the Size of Theme Park (주제공원의 규모결정을 위한 재무적 손익모형 II -에버랜드, 서울랜드, 드림랜드 비교-)

  • 이양주;유병림
    • Journal of the Korean Institute of Landscape Architecture
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    • v.24 no.3
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    • pp.109-114
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    • 1996
  • Generally, the size of our recreation sites is selected through use demand at the peak day. At same time, scale economic and diseconomic are applied to a recreation site. If you are a rational decision-maker, you would like to select the size of your park at profit-maximization point. This study is the first try for modelling a Gain-Loss by the size options of a theme park. For testing the validity of a financial model to select the size of theme parks. Ever-Land, Seoul-Land, Dream-Land's operating size was analyzed. By the size options, the revenue of each park was compared with cost. The profit-maximization point and break-even point of each park were found. Ever-Land and Dream-Land's size was selected between the profit-maximization point and the break-even point. In contrast with Ever-Land and Dream-Land's, Seoul-Land's was selected upper the break-even point. To increase the utility of this model in selecting the size of a theme park, a decision-maker must keep in mind a few limits of this study. That is, 1) this model can not be applied at public parks. 2) Sometimes the others can be more important than financial revenue and cost. Finally, there is the validity of Gain-Loss Model in estimating only the financial revenues and costs through the size options.

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Re-examination of Response Compatability Hypothesis in Decision-Making (결정에서 반응 조화설의 재검증)

  • Ahn, Sang-Ji;Lee, Young-Ai
    • Korean Journal of Cognitive Science
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    • v.20 no.2
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    • pp.197-223
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    • 2009
  • Three studies re-examined Shafer's(1993) response compatibility hypothesis in decision making. This hypothesis proposes that participants choose or reject an option when its features are compatible with either a selection or a rejection response. By changing the description of options into sentences and by the prior presentation of either a selection or a rejection question, we obtained results fairly consistent with the predictions of the response compatibility hypothesis. Based on the analysis of both previous and present results, we discussed the importance of preference elicitation methods when constructing options. Our results were compared to those of recent studies.

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Online Catalog Organization for the Effectiveness of Information Acces (정보접근의 효율성을 위한 온라인 목록의 구성)

  • Kwak Chul-Wan
    • Journal of the Korean Society for Library and Information Science
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    • v.30 no.3
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    • pp.25-36
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    • 1996
  • The purpose of the study is to identify what search options are used to decide how to search on the online catalog system, and to suggest a format of the initial screen NOTIS and Dynix systems were used. Data collection was conducted in accordance with a $'2\times2'$ design. The study shows the effect on user choices of the initial men formal especially where the arrangement and breadth of search options are concerned. The availability of search options provides various users' search option selection The results of the study suggest that users can input only search term(s) on the initial screen without choice of search option Then, users may select search fields depending upon the results of searching. This method can reduce the search fail when users select wrong search option on the online catalog.

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A Study on Career Barriers and Career Options with Fisheries and Marine Sciences College Students (수·해양대학생들의 진로선택과 진로탐색장애에 관한 연구)

  • PARK, Jong-Un;CHA, Ta-Soon
    • Journal of Fisheries and Marine Sciences Education
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    • v.21 no.3
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    • pp.459-469
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    • 2009
  • The purpose of this study was to examine the relation between career options and career barriers of fisheries and marine science college students. The subjects in this study were 1,309 students(male 628, female 681), who were analyzed with 6 career items and career barrier inventory. Data analyses were conducted using t-test, One-way Analysis of Variance, Two-way Analysis of Variance. The results of the research are as follows. First, the career barriers factors that students experienced a lot were future anxiety and lack of career informations. Accoding to sex, there was no meaningful differences on the career barriers, but accoding to grades, there was meaningful differences on the career barriers. Second, career barriers showed high level in case that students chose their majors accoding to the factors of professors, score level and others' admonition. And career barriers was higher in cases of the students who had the level of below the common satisfaction on their majors, who had a minor or temporary absence from school because their majors were unsatisfied, who took courses with their pals, who chose their jobs in terms of pay level and working region, and who had uncertainty on their apptitude and interesting.

Experimental Study on the Cooling Performance Improvement of a Two-stage Compression $CO_2$ Cycle (2단압축 이산화탄소 사이클의 냉방성능 향상 특성에 대한 실험적 연구)

  • Cho Hong-Hyun;Lee Ho-Seong;Kim Yong-Chan
    • Korean Journal of Air-Conditioning and Refrigeration Engineering
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    • v.18 no.10
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    • pp.835-841
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    • 2006
  • A $CO_2$ system using the two-stage compression cycle was tested by varying $1^{st}-2^{nd}$ compressor frequencies in the cooling mode. To improve the cooling performance of the two-stage compression $CO_2$ cycle, the following cycle options were applied: a basic cycle, a cycle with an intercooler, a cycle with an IHX (internal heat exchanger), and a cycle with an intercooler and IHX. The cycle with the intercooler-IHX showed the highest cooling capacity improvement among the cycle options at all compressor frequencies. The cycle with the intercooler, the cycle with the IHX, and the cycle with the intercooler-IHX improved the cooling COP by 7, 12, and 15%, respectively, over the basic $CO_2$ cycle when the compressor frequencies for the first and second compressors were 50 Hz and 30 Hz, respectively. In addition, the applications of the selected cycle options enhanced system reliability.

Development of integrated waste management options for irradiated graphite

  • Wareing, Alan;Abrahamsen-Mills, Liam;Fowler, Linda;Grave, Michael;Jarvis, Richard;Metcalfe, Martin;Norris, Simon;Banford, Anthony William
    • Nuclear Engineering and Technology
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    • v.49 no.5
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    • pp.1010-1018
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    • 2017
  • The European Treatment and Disposal of Irradiated Graphite and other Carbonaceous Waste project sought to develop best practices in the retrieval, treatment, and disposal of irradiated graphite including other irradiated carbonaceous waste such as structural material made of graphite, nongraphitized carbon bricks, and fuel coatings. Emphasis was given on legacy irradiated graphite, as this represents a significant inventory in respective national waste management programs. This paper provides an overview of the characteristics of graphite irradiated during its use, primarily as a moderator material, within nuclear reactors. It describes the potential techniques applicable to the retrieval, treatment, recycling/reuse, and disposal of these graphite wastes. Considering the lifecycle of nuclear graphite, from manufacture to final disposal, a number of waste management options have been developed. These options consider the techniques and technologies required to address each stage of the lifecycle, such as segregation, treatment, recycle, and ultimate disposal in a radioactive waste repository, providing a toolbox to aid operators and regulators to determine the most appropriate management strategy. It is noted that national waste management programs currently have, or are in the process of developing, respective approaches to irradiated graphite management. The output of the Treatment and Disposal of Irradiated Graphite and other Carbonaceous Waste project is intended to aid these considerations, rather than dictate them.