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Irreversible investments with largest outlay made with incomplete information are the mainstay of the oilfield development. Real Options Analysis (ROA) is a useful tool for making investment decisions under market uncertainty. Normal information generates continuous mean-reverting process for oil prices, whereas random abnormal information generates discrete jumps of random size. We evaluate an oilfield...
The oilfield development is a high-risk venture and requires the largest outlay which is not Irreversible. This paper proposes a new model, based on Real Option Pricing with Mean-Reverting jump, to find an optimal decision rule for alternatives of investment regarding the development of an oil field under market uncertainty. The objective of this new model is to help decision-making in the following...
This paper presents an artificial ant colony approach to distributed sensor wakeup control (SWC) in wireless sensor networks (WSN) to accomplish the joint task of surveillance and target tracking. Each sensor node is modeled as an ant, and the problem of target detection is modeled as the food locating by ants. Once the food is found, the ant will release pheromone. The communication, invalidation,...
The performance improvement of hydraulic simulator is effected by dynamic nonlinear friction. A nonlinear adaptive frication compensation method based on LuGre friction model is proposed to acquire good low-speed performance of hydraulic simulator after analyzing dynamic friction of hydraulic simulator and building LuGre friction model of hydraulic simulator. Dual nonlinear observers are constructed...
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