• Management Science and Financial Engineering
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• v.22 no.1
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• pp.13-20
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• 2016

We investigate the optimal consumption and investment problem when a working debtor has an option to file for bankruptcy. By applying the duality approach, the closed-form solutions are obtained for the case of CRRA utility function. The optimal bankruptcy time is determined by the first hitting time when the financial wealth hits the wealth threshold derived from the optimal stopping time problem. Moreover, the numerical results show that the investment increases as the wealth approaches the threshold and the value gain from the bankruptcy option is vanished as wealth increases.

• East Asian mathematical journal
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• v.26 no.3
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• pp.351-363
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• 2010

We introduce a special class of real recurrent polynomials $f_m$$($m{\geq}1$) of degree m+1, with positive roots $s_m$, which are decreasing as m increases. The first root $s_1$, as well as the last one denoted by $s_{\infty}$ are expressed in closed form, and enclose all $s_m$ (m > 1). This technique is also used to find weaker than before [6] sufficient convergence conditions for some popular iterative processes converging to solutions of equations.

• Journal of applied mathematics & informatics
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• v.28 no.3_4
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• pp.863-875
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• 2010

In this paper we apply the martingale approach, which has been widely used in mathematical finance, to investigate the optimal investment problem for an insurer under the criterion of mean-variance. When the risk and security assets are described by the L$\acute{e}$vy processes, the closed form solutions to the maximization problem are obtained. The mean-variance efficient strategies and frontier are also given.

• Journal of Electrical Engineering and information Science
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• v.2 no.6
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• pp.56-63
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• 1997

Under most system assumptions, closed form solutions of performance measures for ATM switches with input queueing are not available. In this paper, we present expressions and bounds for the derivatives of cell loss probabilities with respect to the arrival rate evaluated at a zero arrival rate. These bounds are used to give an approximation by Taylor expansion, thereby providing an economical way to estimate cell loss probabilities in light traffic.

• Journal of the Chungcheong Mathematical Society
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• v.33 no.2
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• pp.293-300
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• 2020

In this paper we study an optimal consumption, investment and retirement time choice problem of an investor who receives labor income before her voluntary retirement. And we assume that there is a negative wealth constraint which is a general version of borrowing constraint. Using convex-duality method, we provide the closed-form solutions of the optimization problem.

• ETRI Journal
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• v.30 no.4
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• pp.609-611
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• 2008

We address the outage performance for the opportunistic amplify-and-forward relaying strategies under Nakagami-m fading channels. A closed-form expression for the outage probability is derived. Simulation results verify our theoretical solutions.

• Journal of The Korean Astronomical Society
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• v.9 no.1
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• pp.9-14
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• 1976

Godel models of the universe filled with fluid are studied in the framework of the Einstein-Cartan theory of gravitation. It is assumed that the models admit a group of motions simply transitive on space-time. The combined effects of spin and rotation(vorticity) are studied with a particular attention to whether the held equations impose any restriction on alignement of spin direction (a polarized spin distribution). The solutions are found explicitly in a closed form, which show that spin components are vanishingly small except in the direction of z-axis (the compass of inertia) in which they can assume an arbitrary distribution.

• Journal of the Chungcheong Mathematical Society
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• v.32 no.2
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• pp.215-224
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• 2019

We investigate the optimal consumption and investment decision problem of an agent whose time preference is time-inconsistent. Specifically, for a time-separable utility function, the agent's subjective discount factor is supposed to be changed randomly in the future. We provide closed-form solutions in the presence of income process. The method can be extended into the case with a stochastic income process.

• Journal of the Korean Institute of Gas
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• v.20 no.6
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• pp.31-36
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• 2016

The flash point is one of the most important indicators of the flammability of liquid solutions. The flash point is the lowest temperature at which there is enough concentration of flammable vapor to form an ignitable mixture with air. In this study the flash points of ternary liquid solutions, n-nonane+n-decane+n-dodecane system, were measured using Seta flash closed cup tester. The measured values were compared with the calculated values using Raoult's law and empirical equation. The calculated data by empirical equation described the measured values more effectively than those calculated by Raoult's law.

• Advances in aircraft and spacecraft science
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• v.1 no.3
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• pp.253-271
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• 2014

A linearised buckling analysis of thin-walled beams is addressed in this paper. Beam theories formulated according to a unified approach are presented. The displacement unknown variables on the cross-section of the beam are approximated via Mac Laurin's polynomials. The governing differential equations and the boundary conditions are derived in terms of a fundamental nucleo that does not depend upon the expansion order. Classical beam theories such as Euler-Bernoulli's and Timoshenko's can be retrieved as particular cases. Slender and deep beams are investigated. Flexural, torsional and mixed buckling modes are considered. Results are assessed toward three-dimensional finite element solutions. The numerical investigations show that classical and lower-order theories are accurate for flexural buckling modes of slender beams only. When deep beams or torsional buckling modes are considered, higher-order theories are required.