Pricing a Bermudan Swaption with a Short Rate Lattice Method

This paper presents the tree construction approach to pricing a Bermudan swaption. The Bermudan swaption is an option, which at each date in a schedule of exercise dates gives the holder the right to enter an interest swap, provided that this right has not been exercised at any previous time in the schedule. Assuming a common diffusion short rate dynamics, the Hull-White model, we propose a dynamic programming approach for their risk neutral evaluation. This framework is suited to a calibration from an observed initial yield curve and market price data of discount bonds and European swaptions.Bermudan swaption, swap rate, risk neutral evaluation, dynamic programming, Hull-White model, calibration.

<Readers’ Forum> Further Remarks Concerning the Noun \u27Sujet\u27 in French

AbstractThis short commentary seeks to give some further thoughts on the discussion concerning the noun sujet in the French language as taken up in Inter Faculty, vol.7, Fragmentation and Divergence, by the articles of Berque, Wieviorka, and more expecially from a linguistic point of view, that of Lebaud

Various Features of the Chooser Flexible Cap

In this paper, we theoretically look into various features of a chooser flexible cap. The chooser flexible cap is a financial instrument written on an underlying market interest rate index, LIBOR (London Inter-Bank Offer Rate). The chooser flexible cap allows a right for a buyer to exercise a limited and pre-determined number of the interim period caplets in a multiple-period cap agreement. While the chooser flexible cap is more flexible and cheaper instrument than the normal cap, its pricing is more complicated than the cap's because of its flexibility. So it may take long time for its price calculation. We can use the features to cut down the calculation time. At the same time the option holder can use the features for exercise strategies.chooser flexible cap, LIBOR, dynamic programming, exercise strategy.

Modular symmetry and non-Abelian discrete flavor symmetries in string compactification

We study the modular symmetry in magnetized D-brane models on $T^2$. Non-Abelian flavor symmetry $D_4$ in the model with magnetic flux $M=2$ (in a certain unit) is a subgroup of the modular symmetry. We also study the modular symmetry in heterotic orbifold models. The $T^2/Z_4$ orbifold model has the same modular symmetry as the magnetized brane model with $M=2$, and its flavor symmetry $D_4$ is a subgroup of the modular symmetry.Comment: 28 page

Aplikasi Theory Of Planned Behavior untuk Memprediksi Perilaku Mahasiswa Membeli Laptop Lenovo (Studi Kasus: Mahasiswa Fe- Unika Santo Thomas Su)

The purpose of this study to analyze the application of theory of planned behavior to predict student behavior to buy Lenovo laptops. Benefits This study provides input to other researchers in conducting further research on the same topic and add insight and knowledge of researchers in the field of consumer behavior, especially about the application of theory of planned behavior to predict student behavior to buy a laptop lenovo. Total sample 96 respondents, data collection method through questioner and documentation, Descriptive analysis technique. The results showed based on the observed variables that: Attitudes, subjective norms and control behaviors felt by students FE Unika St. Thomas SU on average gives a positive influence on the behavior to buy branded Lenovo laptops. This is in line with the behavioral interest equation = BI = 0.44Ab + 0.16SN + 0.40PC. That is, the behavior of FE Unika St. Thomas SU to buy larger brand Lenovo laptops is influenced by attitudes of 0.44 (44%) than perceived behavioral controls of 0.40 (40% and subjective norms 0.16 (16%)). attributes that students place to win competition and preferably, laptop manufacturers increase the influence of subjective norms and perceived behavioral control by offering various benefits to consumer

Kontribusi Kearifan Lokal Terhadap Konservasi Lahan Kritis

Tujuan dari penelitian ini adalah: 1) mengetahui penerapan kearifan lokal dalam konservasi lahan kritis di Desa Batur Tengah; dan 2) mengetahui kontribusi kearifan lokal dalam konservasi lahan kritis di Desa Batur Tengah. Populasi penelitian ini adalah seluruh petani yang ada diwilayah Desa Batur Tengah. Pengambilan sampel dilakukan dengan metode quota sampling, yaitu sebanyak 30 orang petani yang tergabung dalam kelompok tani dan 30 orang petani yang tidak tergabung dalam kelompok taniBerdasarkan hasil penelitian ini, maka dapat disimpulkan sebagai berikut. 1) Penerapan kearifan lokal dalam konservasi lahan kritis di Desa Batur Tengah berada dalam kategori baik. 2) Kontribusi penerapan kearifan lokal dalam konservasi lahan kritis di Desa Batur Tengah berada dalam kategori cukup tinggi. 3) Faktor pendukung penerapan kearifan lokal dalam konservasi lahan kritis di Desa Batur Tengah adalah faktor dukungan masyarakat, pemerintah, pengamalan warga terhadap falsafah Tri Hita Karana dan landasan operasional “paras paros selulung subayantaka sarpanayaâ€. 4) Faktor penghambat penerapan kearifan lokal dalam konservasi lahan kritis di Desa Batur Tengah adalah hambatan ekonomi, teknologi, kelembagaan dan hambatan fisik. Berdasarkan kesimpulan di atas, maka dapat disarankan sebagai berikut. Kepada warga masyarakat agar meningkatkan kualitas penerapan kearifan lokal dalam konservasi lahan kritis sehingga kontribusi penerapan kearifan lokal dalam konservasi lahan kritis menjadi lebih tinggi Kepada Bendesa adat agar melaksanakan kearifan local secara lebih bijaksana. Kepada Pemerintah Daerah melalui Camat Kintamani agar lebih intensif memantau penerapan kearifan local dalam konservasi lahan kritis