Capital ages and must eventually be replaced. We propose a theory of financing in which firms borrow to finance investment and deleverage as capital ages to have enough financial slack to finance replacement investments. To achieve these dynamics, firms is ...
This article derives a closed-form pricing formula for European exchange options under a non-Gaussianframework for the underlying assets, intending to resolve mispricing associated with a geometric Brownianmotion. The dynamics of each of the two correlated ...
This thesis focuses on non-parametric covariance estimation for random surfaces, i.e.~functional data on a two-dimensional domain. Non-parametric covariance estimation lies at the heart of functional data analysis, and
considerations of statistical and com ...
This article shows that the inability to use monetary policy for macroeconomic stabilization leaves a government more vulnerable to a rollover crisis. We study a sovereign default model with self-fulfilling rollover crises, foreign currency debt, and nomin ...
Metabolism is the process by which cells and organisms obtain nutrients and energy to perform their functions. In the last years, many human diseases, including cancer, diabetes, and cardiac diseases, have been associated with altered metabolism. Understan ...
In this thesis, we explored on-chip high-resolution imaging of the fate of intestinal bacteria and bacterial products in Caenorhabditis elegans (C. elegans). In the first part, we carried out high-resolution z-stack fluorescent imaging of Red Fluorescent P ...
Discount is the difference between the face value of a bond and its present value. We propose an arbitrage-free dynamic framework for discount models, which provides an alternative to the Heath-Jarrow-Morton framework for forward rates. We derive general c ...
Omnichannel retail has emerged as the new standard in today's commerce landscape, with retailers integrating their physical and online channels to enhance the customer shopping experience. However, such integration presents significant challenges for retai ...
Nonlinear optical frequency conversion is of fundamental importance in photonics and underpins countless of its applications: Sum- and difference-frequency generation in media with quadratic nonlinearity permits reaching otherwise inaccessible wavelength r ...
The free expansion of a planar plasma surface is a fundamental non-equilibrium process relevant for various fields but as-yet experimentally still difficult to capture. The significance of the associated spatiotemporal plasma motion ranges from astrophysic ...
