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We propose a new numerical algorithm for pricing the Equity linked Security which is a financial derivative. Our algorithm utilizes FDM with the Exit-Probability. Through numerical examples, we validate that our algorithm is more accurate than the conventional method.

The purpose of this paper is to propose a high‐mobility in‐pipe robot platform and its navigation strategy for navigating in T‐branch pipes efficiently.

For high mobility, this robot is developed based on inchworm locomotion. An extensor mechanism with flexible links and clamper mechanisms enable the robot to conduct both steering and inchworm locomotion. The locomotion of the robot is modeled based on a pseudo‐rigid‐body model. From the developed model, this paper introduces a navigation strategy based on defining relay points and generating a path from a main pipe to a T‐branch pipe.

With this navigation strategy, the robot can avoid collisions and enter T‐branch pipes effectively. The path generation algorithm is verified by experiment. In addition, both the navigation strategy and mobility of the robot are demonstrated by experiments conducted in a commercial pipe configuration.

This paper describes the mechanism of an inchworm‐type in‐pipe robot that is able to steer and adapt to pipe diameter changes. This paper also describes navigation strategy that enables a robot to avoid collisions and enter T‐branch pipes effectively. This research will help the construction of a fully autonomous in‐pipe robot that can navigate through various types of pipes.

This paper investigates a retrospective on the Journal of Derivatives and Quantitative Studies (JDQS) on its 30th anniversary based on bibliometric. JDQSs yearly publications, citations, impact factors, and centrality indices grew up in early 2010s, and diminished in 2020. Keyword network analysis reveals the JDQS's main keywords including behavioral finance, implied volatility, information asymmetry, price discovery, KOSPI200 futures, volatility, and KOSPI200 options. Citations of JDQS articles are mainly driven by article age, demeaned age squared, conference, nonacademic authors and language. In comparison between number of views and downloads for JDQS articles, we find that recent changes in publisher and editorial and publishing policies have increased visibility of JDQS.

The purpose of this paper is to test the dual frames of reference theory. For the test, the reference point hypothesis examines whether the difference in the quality of social conditions between the home and host countries determines the variations of immigrants’ trust in the institutions of their host country.

By using hierarchical linear modeling analysis, the current study examines whether “difference of homicide rate from South Korea” or “difference of level of democracy from South Korea” influences immigrants’ confidence in the police. Using data collected from nine different immigrant groups in South Korea, the current study examined both country-level factors as well as individual-level factors.

According to the analysis results, the difference of level of democracy from South Korea significantly influenced immigrants’ confidence in the South Korean police. Specifically, when immigrants came from democratically under-developed countries, they showed a relatively high level of confidence in the South Korean police.

Confidence in the police among the first generation of immigrants has recently attracted increasing attention. However, no previous studies have examined immigrants’ confidence in the police within an Asian country. Thus, the current study might contribute to generating better police performances toward first-generation immigrants who tend to be discriminated against and are also vulnerable to various forms of victimization because of their new status in a new society.