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Article
Publication date: 28 March 2022

Subhasree Dutta, Somnath Bhattacharyya and Ioan Pop

The purpose of this study is to analyze the nonhomogeneous model on the mixed convection of Al2O3–Fe3O4 Bingham plastic hybrid nanofluid in a ventilated enclosure subject to an…

Abstract

Purpose

The purpose of this study is to analyze the nonhomogeneous model on the mixed convection of Al2O3–Fe3O4 Bingham plastic hybrid nanofluid in a ventilated enclosure subject to an externally imposed uniform magnetic field. Entropy generation and the pressure drop are determined to analyze the performance of the heat transfer. The significance of Joule heating arising due to the applied magnetic field on the heat transfer of the yield stress fluid is described.

Design/methodology/approach

The ventilation in the enclosure of heated walls is created by an opening on one vertical wall through which cold fluid is injected and another opening on the opposite vertical wall through which fluid can flow out.

Findings

This study finds that the inclusion of Fe3O4 nanoparticles with the Al2O3-viscoplastic nanofluid augments the heat transfer. This rate of enhancement in heat transfer is higher than the rate by which the entropy generation is increased as well as the enhancement in the pressure drop. The yield stress has an adverse effect on the heat transfer; however, it favors thermal mixing. The magnetic field, which is acting opposite to the direction of the inlet jet, manifests heat transfer of the viscoplastic hybrid nanofluid. The horizontal jet of cold fluid produces the optimal heat transfer.

Originality/value

The objective of this study is to analyze the impact of the inclined cold jet of viscoplastic electrically conducting hybrid nanofluid on heat transfer from the enclosure in the presence of a uniform magnetic field. The combined effect of hybrid nanoparticles and a magnetic field to enhance heat transfer of a viscoplastic fluid in a ventilated enclosure has not been addressed before.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 32 no. 9
Type: Research Article
ISSN: 0961-5539

Keywords

Open Access
Article
Publication date: 16 February 2021

Rim Amami, Monique Pontier and Hani Abidi

The purpose of this paper is to show the existence results for adapted solutions of infinite horizon doubly reflected backward stochastic differential equations with jumps. These…

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Abstract

Purpose

The purpose of this paper is to show the existence results for adapted solutions of infinite horizon doubly reflected backward stochastic differential equations with jumps. These results are applied to get the existence of an optimal impulse control strategy for an infinite horizon impulse control problem.

Design/methodology/approach

The main methods used to achieve the objectives of this paper are the properties of the Snell envelope which reduce the problem of impulse control to the existence of a pair of right continuous left limited processes. Some numerical results are provided to show the main results.

Findings

In this paper, the authors found the existence of a couple of processes via the notion of doubly reflected backward stochastic differential equation to prove the existence of an optimal strategy which maximizes the expected profit of a firm in an infinite horizon problem with jumps.

Originality/value

In this paper, the authors found new tools in stochastic analysis. They extend to the infinite horizon case the results of doubly reflected backward stochastic differential equations with jumps. Then the authors prove the existence of processes using Envelope Snell to find an optimal strategy of our control problem.

Content available
Book part
Publication date: 15 September 2017

Abstract

Details

Advances in Pacific Basin Business Economics and Finance
Type: Book
ISBN: 978-1-78743-409-7

Open Access
Article
Publication date: 7 June 2022

Manoj Kumar

In this paper, the author presents a hybrid method along with its error analysis to solve (1+2)-dimensional non-linear time-space fractional partial differential equations (FPDEs).

Abstract

Purpose

In this paper, the author presents a hybrid method along with its error analysis to solve (1+2)-dimensional non-linear time-space fractional partial differential equations (FPDEs).

Design/methodology/approach

The proposed method is a combination of Sumudu transform and a semi-analytc technique Daftardar-Gejji and Jafari method (DGJM).

Findings

The author solves various non-trivial examples using the proposed method. Moreover, the author obtained the solutions either in exact form or in a series that converges to a closed-form solution. The proposed method is a very good tool to solve this type of equations.

Originality/value

The present work is original. To the best of the author's knowledge, this work is not done by anyone in the literature.

Details

Arab Journal of Mathematical Sciences, vol. 30 no. 1
Type: Research Article
ISSN: 1319-5166

Keywords

Content available
Book part
Publication date: 10 December 2018

George Levy

Abstract

Details

Energy Power Risk
Type: Book
ISBN: 978-1-78743-527-8

Content available
Book part
Publication date: 28 October 2019

Angelo Corelli

Abstract

Details

Understanding Financial Risk Management, Second Edition
Type: Book
ISBN: 978-1-78973-794-3

Open Access
Article
Publication date: 7 September 2021

Freddy H. Marín-Sánchez, Julián A. Pareja-Vasseur and Diego Manzur

The purpose of this article is to propose a detailed methodology to estimate, model and incorporate the non-constant volatility onto a numerical tree scheme, to evaluate a real…

Abstract

Purpose

The purpose of this article is to propose a detailed methodology to estimate, model and incorporate the non-constant volatility onto a numerical tree scheme, to evaluate a real option, using a quadrinomial multiplicative recombination.

Design/methodology/approach

This article uses the multiplicative quadrinomial tree numerical method with non-constant volatility, based on stochastic differential equations of the GARCH-diffusion type to value real options when the volatility is stochastic.

Findings

Findings showed that in the proposed method with volatility tends to zero, the multiplicative binomial traditional method is a particular case, and results are comparable between these methodologies, as well as to the exact solution offered by the Black–Scholes model.

Originality/value

The originality of this paper lies in try to model the implicit (conditional) market volatility to assess, based on that, a real option using a quadrinomial tree, including into this valuation the stochastic volatility of the underlying asset. The main contribution is the formal derivation of a risk-neutral valuation as well as the market risk premium associated with volatility, verifying this condition via numerical test on simulated and real data, showing that our proposal is consistent with Black and Scholes formula and multiplicative binomial trees method.

Details

Journal of Economics, Finance and Administrative Science, vol. 26 no. 52
Type: Research Article
ISSN: 2218-0648

Keywords

Open Access
Article
Publication date: 25 July 2022

Cara Greta Kolb, Maja Lehmann, Johannes Kriegler, Jana-Lorena Lindemann, Andreas Bachmann and Michael Friedrich Zaeh

This paper aims to present a requirements analysis for the processing of water-based electrode dispersions in inkjet printing.

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Abstract

Purpose

This paper aims to present a requirements analysis for the processing of water-based electrode dispersions in inkjet printing.

Design/methodology/approach

A detailed examination of the components and the associated properties of the electrode dispersions has been carried out. The requirements of the printing process and the resulting performance characteristics of the electrode dispersions were analyzed in a top–down approach. The product and process side were compared, and the target specifications of the dispersion components were derived.

Findings

Target ranges have been identified for the main component properties, balancing the partly conflicting goals between the product and the process requirements.

Practical implications

The findings are expected to assist with the formulation of electrode dispersions as printing inks.

Originality/value

Little knowledge is available regarding the particular requirements arising from the systematic qualification of aqueous electrode dispersions for inkjet printing. This paper addresses these requirements, covering both product and process specifications.

Details

Rapid Prototyping Journal, vol. 28 no. 11
Type: Research Article
ISSN: 1355-2546

Keywords

Open Access
Article
Publication date: 13 February 2024

Felipa de Mello-Sampayo

This survey explores the application of real options theory to the field of health economics. The integration of options theory offers a valuable framework to address these…

Abstract

Purpose

This survey explores the application of real options theory to the field of health economics. The integration of options theory offers a valuable framework to address these challenges, providing insights into healthcare investments, policy analysis and patient care pathways.

Design/methodology/approach

This research employs the real options theory, a financial concept, to delve into health economics challenges. Through a systematic approach, three distinct models rooted in this theory are crafted and analyzed. Firstly, the study examines the value of investing in emerging health technology, factoring in future advantages, associated costs and unpredictability. The second model is patient-centric, evaluating the choice between immediate treatment switch and waiting for more clarity, while also weighing the associated risks. Lastly, the research assesses pandemic-related government policies, emphasizing the importance of delaying decisions in the face of uncertainties, thereby promoting data-driven policymaking.

Findings

Three different real options models are presented in this study to illustrate their applicability and value in aiding decision-makers. (1) The first evaluates investments in new technology, analyzing future benefits, discount rates and benefit volatility to determine investment value. (2) In the second model, a patient has the option of switching treatments now or waiting for more information before optimally switching treatments. However, waiting has its risks, such as disease progression. By modeling the potential benefits and risks of both options, and factoring in the time value, this model aids doctors and patients in making informed decisions based on a quantified assessment of potential outcomes. (3) The third model concerns pandemic policy: governments can end or prolong lockdowns. While awaiting more data on the virus might lead to economic and societal strain, the model emphasizes the economic value of deferring decisions under uncertainty.

Practical implications

This research provides a quantified perspective on various decisions in healthcare, from investments in new technology to treatment choices for patients to government decisions regarding pandemics. By applying real options theory, stakeholders can make more evidence-driven decisions.

Social implications

Decisions about patient care pathways and pandemic policies have direct societal implications. For instance, choices regarding the prolongation or ending of lockdowns can lead to economic and societal strain.

Originality/value

The originality of this study lies in its application of real options theory, a concept from finance, to the realm of health economics, offering novel insights and analytical tools for decision-makers in the healthcare sector.

Details

Journal of Economic Studies, vol. 51 no. 9
Type: Research Article
ISSN: 0144-3585

Keywords

Content available
Book part
Publication date: 20 August 2020

Satya R. Chakravarty and Palash Sarkar

Abstract

Details

An Introduction to Algorithmic Finance, Algorithmic Trading and Blockchain
Type: Book
ISBN: 978-1-78973-894-0

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