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A basket option is an option on a portfolio of multiple risky assets. There is no analytical solution for basket option pricing, because the payoff of a basket option is determined by the weighted average of the prices of the multiple underlying assets. This study presents an approximation approach for valuing basket options by the algorithms of piecewise lognormal interpolation. The idea is to partition...
This paper proposed the optimal portfolio model maximizing returns and minimizing the risk expressed as CvaR under the assumption that the portfolio return subjects to heavy tail. With linear weighted sum method, we solved the multi-objectives model, and compared the model results to the case under the assumption of normal distribution portfolio return, which is based on the portfolio VAR. In an empirical...
Developing learner autonomy has been one of goals for teaching. In the new teaching mode which is backed up by on-line techniques, Web-based learner autonomy and its development are essential to learners. The traditional evaluation - summative evaluation only attends to the grades and results in neglecting the learning process and thus can't encourage learners to learn autonomously. This paper discusses...
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