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We present an approach for pricing American put options with a regime-switching volatility. Our method reveals that the option price can be expressed as the sum of two components: the price of a European put option and the premium associated with the early exercise privilege. Our analysis demonstrates that, under these conditions, the perpetual put option consistently commands a higher price during periods of high volatility compared to those of low volatility. Moreover, we establish that the optimal exercise boundary is lower in high-volatility regimes than in low-volatility regimes. Additionally, we develop an analytical framework to describe American puts with an Erlang-distributed random-time horizon, which allows us to propose a numerical technique for approximating the value of American puts with finite expiry. We also show that a combined approach involving randomization and Richardson extrapolation can be a robust numerical algorithm for estimating American put prices with finite expiry.

A novel type of heat transfer fluid known as hybrid nanofluids is used to improve the efficiency of heat exchangers. It is observed from literature evidence that hybrid nanofluids outperform single nanofluids in terms of thermal performance. This study aims to address the stagnation point flow induced by Williamson hybrid nanofluids across a vertical plate. This fluid is drenched under the influence of mixed convection in a Darcy–Forchheimer porous medium with heat source/sink and entropy generation.

By applying the proper similarity transformation, the partial differential equations that represent the leading model of the flow problem are reduced to ordinary differential equations. For the boundary value problem of the fourth-order code (bvp4c), a built-in MATLAB finite difference code is used to tackle the flow problem and carry out the dual numerical solutions.

The shear stress decreases, but the rate of heat transfer increases because of their greater influence on the permeability parameter and Weissenberg number for both solutions. The ability of hybrid nanofluids to strengthen heat transfer with the incorporation of a porous medium is demonstrated in this study.

The findings may be highly beneficial in raising the energy efficiency of thermal systems.

The originality of the research lies in the investigation of the Darcy–Forchheimer stagnation point flow of a Williamson hybrid nanofluid across a vertical plate, considering buoyancy forces, which introduces another layer of complexity to the flow problem. This aspect has not been extensively studied before. The results are verified and offer a very favorable balance with the acknowledged papers.

Accurately evaluating fluid flow behaviors and determining permeability for deforming porous media is time-consuming and remains challenging. This paper aims to propose a novel machine-learning method for the rapid estimation of permeability of porous media at different deformation stages constrained by hydro-mechanical coupling analysis.

A convolutional neural network (CNN) is proposed in this paper, which is guided by the results of finite element coupling analysis of equilibrium equation for mechanical deformation and Boltzmann equation for fluid dynamics during the hydro-mechanical coupling process [denoted as Finite element lattice Boltzmann model (FELBM) in this paper]. The FELBM ensures the Lattice Boltzmann analysis of coupled fluid flow with an unstructured mesh, which varies with the corresponding nodal displacement resulting from mechanical deformation. It provides reliable label data for permeability estimation at different stages using CNN.

The proposed CNN can rapidly and accurately estimate the permeability of deformable porous media, significantly reducing processing time. The application studies demonstrate high accuracy in predicting the permeability of deformable porous media for both the test and validation sets. The corresponding correlation coefficients (R²) is 0.93 for the validation set, and the R² for the test set A and test set B are 0.93 and 0.94, respectively.

This study proposes an innovative approach with the CNN to rapidly estimate permeability in porous media under dynamic deformations, guided by FELBM coupling analysis. The fast and accurate performance of CNN underscores its promising potential for future applications.

The purpose of this paper is to improve autonomous flight performance of a fixed-wing unmanned aerial vehicle (UAV) via simultaneous morphing wingtip and control system design conducted with optimization, computational fluid dynamics (CFD) and machine learning approaches.

The main wing of the UAV is redesigned with morphing wingtips capable of dihedral angle alteration by means of folding. Aircraft dynamic model is derived as equations depending only on wingtip dihedral angle via Nonlinear Least Squares regression machine learning algorithm. Data for the regression analyses are obtained by numerical (i.e. CFD) and analytical approaches. Simultaneous perturbation stochastic approximation (SPSA) is incorporated into the design process to determine the optimal wingtip dihedral angle and proportional-integral-derivative (PID) coefficients of the control system that maximizes autonomous flight performance. The performance is defined in terms of trajectory tracking quality parameters of rise time, settling time and overshoot. Obtained optimal design parameters are applied in flight simulations to test both longitudinal and lateral reference trajectory tracking.

Longitudinal and lateral autonomous flight performances of the UAV are improved by redesigning the main wing with morphing wingtips and simultaneous estimation of PID coefficients and wingtip dihedral angle with SPSA optimization.

This paper originally discusses the simultaneous design of innovative morphing wingtip and UAV flight control system for autonomous flight performance improvement. The proposed simultaneous design idea is conducted with the SPSA optimization and a machine learning algorithm as a novel approach.

A novel method for modelling permanent magnets is investigated based on numerical approximations with rational functions. This study aims to introduce the AAA algorithm and other recently developed, cutting-edge mathematical tools, which provide outstandingly fast and accurate numerical computation of potentials and vector fields.

First, the AAA algorithm is briefly introduced along with its main variants and other advanced mathematical tools involved in the modelling. Then, the analysis of a circular Halbach array with a one-pole pair is carried out by means of the AAA-least squares method, focusing on vector potential and flux density in the bore and validating results by means of classic finite element software. Finally, the investigation is completed by a finite difference analysis.

AAA methods for field analysis prove to be strikingly fast and accurate. Results are in excellent agreement with those provided by the finite element model, and the very good agreement with those from finite differences suggests future improvements. They are also easy programming; the MATLAB code is less than 200 lines. This indicates they can provide an effective tool for rapid analysis.

AAA methods in magnetostatics are novel, but their extension to analogous physical problems seems straightforward. Being a meshless method, it is unlikely that local non-linearities can be considered. An aspect of particular interest, left for future research, is the capability of handling inhomogeneous domains, i.e. solving general interface problems.

The authors use cutting-edge mathematical tools for the modelling of complex physical objects in magnetostatics.

Perspiration and heat are produced by the body and must be eliminated to maintain a stable body temperature. Sweat, heat and air must pass through the fabric to be comfortable. The cloth absorbs sweat and then releases it, allowing the body to chill down. By capillary action, moisture is driven away from fabric pores or sucked out of yarns. Convectional air movement improves sweat drainage, which may aid in body temperature reduction. Clothing reduces the skin's ability to transport heat and moisture to the outside. Excessive moisture makes clothing stick to the skin, whereas excessive heat induces heat stress, making the user uncomfortable. Wet heat loss is significantly more difficult to understand than dry heat loss. The purpose of this study is to provided a good compilation of complete information on wet thermal comfort of textile and technological elements to be consider while constructing protective apparel.

This paper aims to critically review studies on the thermal comfort of textiles in wet conditions and assess the results to guide future research.

Several recent studies focused on wet textiles' impact on comfort. Moisture reduces the fabric's thermal insulation value while also altering its moisture characteristics. Moisture and heat conductivity were linked. Sweat and other factors impact fabric comfort. So, while evaluating a fabric's comfort, consider both external and inside moisture.

The systematic literature review in this research focuses on wet thermal comfort and technological elements to consider while constructing protective apparel.

Static inverters are very important for the emergency energy distribution system of aircraft and similar machines. At the same time, the electrical energy produced at high frequency for electrical devices is used to reduce the weight of the cables in the aircraft and spacecraft because of the skin effect. In the high-frequency system, a thinner cable cross-section is used, and a great weight reduction occurs in the aircraft. So, fuel economy, less and late wear of the materials (landing gear, etc.) can be obtained with decreasing weight. This paper aims to present the development of a functional multilevel inverter (FMLI) with fractional sinus pulse width modulation (FSPWM) and a reduced number of switches to provide high-frequency and quality electrical energy conversion.

After the production of FSPWM for FMLI with a reduced component, which, to the best of the authors’ knowledge, is presented for the first time in this study, is explained step by step, and eight operating states are given according to different FSPWMs operating the circuit. The designed inverter and modulation technique are compared by testing the conventional modular multilevel inverter on different loads.

According to application results, it is seen that there is a 50% reduction in cross-section from 100 Hz to 400 Hz with the skin effect. At 1000 Hz, there is a 90% cross-section reduction. The decrease can be in cable weights that may occur in aircraft from 10 kg to 100 kg according to different frequencies. It causes less harmonic distortion than conventional converters. This supports the safer operation of the system. Compared to the traditional system, the proposed system provides more amplitude in converting the source to alternating voltage and increases the efficiency.

FSPWM is developed for multilevel inverters with reduced components at the high frequency and cascaded switching studies in the power electronics of aircraft.

Although the proposed system has less current and power loss as mentioned in the previous sections, it contains fewer power elements than conventional inverters that are equivalent for different hardware levels. This not only reduces the cost of the system but also provides ease of maintenance. To reduce the cable load in aircraft and create more efficient working conditions, 400 Hz alternative voltage is used. The proposed system causes less losses and lower harmonic distortions than traditional systems. This will reduce possible malfunctions and contribute to aircraft reliability for passengers and cargo. As technology develops, it is revealed that the proposed inverter system will be more efficient than traditional inverters when devices operating at frequencies higher than 400 Hz are used. With the proposed inverter, safer operation will be ensured, while there will be less energy loss, less fuel consumption and less carbon emissions to the environment.

The proposed inverter structure shows that it can provide energy transmission for electrical devices in space and aircraft by using the skin effect. It also contains less power elements than the traditional inverters, which are equivalent for different levels of hardware.

Abnormal vibrations often occur in the liquid oxygen kerosene transmission pipelines of rocket engines, which seriously threaten their safety. Improper handling can result in failed rocket launches and significant economic losses. Therefore, this paper aims to examine vibrations in transmission pipelines.

In this study, a three-dimensional high-pressure pipeline model composed of corrugated pipes, multi-section bent pipes, and other auxiliary structures was established. The fluid–solid coupling method was used to analyse vibration characteristics of the pipeline under various external excitations. The simulation results were visualised using MATLAB, and their validity was verified via a thermal test.

In this study, the vibration mechanism of a complex high-pressure pipeline was examined via a visualisation method. The results showed that the low-frequency vibration of the pipe was caused by fluid self-excited pressure pulsation, whereas the vibration of the engine system caused a high-frequency vibration of the pipeline. The excitation of external pressure pulses did not significantly affect the vibrations of the pipelines. The visualisation results indicated that the severe vibration position of the pipeline thermal test is mainly concentrated between the inlet and outlet and between the two bellows.

The results of this study aid in understanding the causes of abnormal vibrations in rocket engine pipelines.

The causes of different vibration frequencies in the complex pipelines of rocket engines and the propagation characteristics of external vibration excitation were obtained.

This study aims to highlight that security and flexibilities remain the main points of contention in the cordiality business. This research points to planning a framework that empowers hotel users to get to the room using a mobile access key. Advancing secured facilities, mobile phone “Near Field Communication” (NFC) innovation as the entrance device by carrying out an application containing an imitated mobile key for explicit verification access is used.

The proposed system is evaluated by triangulation of experimental, numerical and rational evaluation using partial least square structural equation modeling (PLS-SEM) with Malaysian hotel guests and employees.

The discoveries with the hypothesis supported validated that the suggested solution can eliminate physical cards, boost protection and encourage a contactless ecosystem. Theoretical, management and societal contributions are discussed here.

This experiment comes with the constraints that it was conducted in only two hotels and does not fully reflect the choices of a wider range of travellers. Secondly, the cost of existing NFC smart locks is still relatively high, and along with the development of technology, the price will decrease when supply exceeds demand.

To promote high-security attributes, NFC technology as the access system by implementing an application containing an emulated smart key for specific authentication access is used. The host-card emulation enables cost-effectiveness profit and initiating a defence system in the pandemic era.

To promote high-security attributes, NFC technology is used as the access system by implementing an application containing an emulated smart key for specific authentication access. The host-card emulation enables cost-effectiveness profit and initiating a defence system in the pandemic era.

The novelty of this study comes from the use of commonly available smartphone NFC features that are yet to be applied in the tourism ecosystem. The research provokes the applied concept of mobile smartkeys.

Distribution network design involves a set of strategic decisions in supply chains because of their long-term impacts on the total logistics cost and environment. To incorporate a trade-off between financial and environmental aspects of these decisions, this paper aims to determine an optimal location, among candidate locations, of a new logistics center, its capacity, as well as optimal network flows for an existing distribution network, while concurrently minimizing the total logistics cost and gas emission. In addition, uncertainty in transportation and warehousing costs are considered.

The problem is formulated as a fuzzy multiobjective mathematical model. The effectiveness of this model is demonstrated using an industrial case study. The problem instance is a four-echelon distribution network with 22 products and a planning horizon of 20 periods. The model is solved by using the min–max and augmented ε-constraint methods with CPLEX as the solver. In addition to illustrating model’s applicability, the effect of choosing a new warehouse in the model is investigated through a scenario analysis.

For the applicability of the model, the results indicate that the augmented ε-constraint approach provides a set of Pareto solutions, which represents the ideal trade-off between the total logistics cost and gas emission. Through a case study problem instance, the augmented ε-constraint approach is recommended for similar network design problems. From a scenario analysis, when the operational cost of the new warehouse is within a specific fraction of the warehousing cost of third-party warehouses, the solution with the new warehouse outperforms that without the new warehouse with respective to financial and environmental objectives.

The proposed model is an effective decision support tool for management, who would like to assess the impact of network planning decisions on the performance of their supply chains with respect to both financial and environmental aspects under uncertainty.