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  • 1
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Real estate economics 22 (1994), S. 0 
    ISSN: 1540-6229
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper analyzes the opportunity for early termination of a mortgage contract. We consider the possibility of defaulting on the property and explore the rules that are used by a value-maximizing borrower in exercising this option to default. The discussion centers on the value of waiting to make such a decision and the consequences of this rational inertia. We show that the observed delay in default usually attributed to transaction costs can instead be explained as entirely rational choice in a dynamic environment.
    Type of Medium: Electronic Resource
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  • 2
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Real estate economics 15 (1987), S. 0 
    ISSN: 1540-6229
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper examines the performance of alternative mortgage instruments in an environment of stochastic price fluctuations. The two most widely discussed contracts that deal with inflation are the adjustable-rate mortgage (ARM) and the price level-adjusted mortgage (PLAM). The former compensates for inflation by paying the nominal interest rate, which contains a component reflecting the rate of inflation. Nonetheless, even without explicit nominal amortization, this results in real amortization and hence a tilting effect. In addition, the inflation component of the nominal interest rate is shown to reflect only anticipated and not actual inflation, and so the real value of an ARM fluctuates due to unanticipated inflation. A PLAM suffers from none of these defects. To the extent that one is interested in a mortgage whose properties reflect the underlying real environment, the price level-adjusted mortgage is the ideal instrument.
    Type of Medium: Electronic Resource
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  • 3
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Real estate economics 21 (1993), S. 0 
    ISSN: 1540-6229
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The same option-based methodology now commonly used to value mortgages and their termination features also can be applied to calculate the probabilities that mortgage default will occur. This paper pursues that idea, and furthermore, enriches the idealized option-based approach by introducing both transaction costs and “suboptimal” termination. These latter features capture the individual considerations that cause a mortgage holder's actions to differ from what rationality would indicate based solely on the market value of the mortgage. These features are of considerable importance if the results of options-based models are to be made comparable to those calculations of default probabilities occurring in the empirical literature.
    Type of Medium: Electronic Resource
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  • 4
    Electronic Resource
    Electronic Resource
    s.l. ; Stafa-Zurich, Switzerland
    Materials science forum Vol. 449-452 (Mar. 2004), p. 417-420 
    ISSN: 1662-9752
    Source: Scientific.Net: Materials Science & Technology / Trans Tech Publications Archiv 1984-2008
    Topics: Mechanical Engineering, Materials Science, Production Engineering, Mining and Metallurgy, Traffic Engineering, Precision Mechanics
    Notes: Recently, magnesium alloy is in the limelight as ECological material with high ability of recycling and lightweight property. Especially, because of outstanding properties as a structural material, the magnesium alloy is in great demand. Under these circumstances, the technical researches and developments of welding process for magnesium alloy welding have great significance to expand industrial application of magnesium. In magnesium alloy welding, arc welding process is generally used. However, heat input by the welding arc affects the magnesium alloy plates, and as the result it makes wide heat affected zone and large distortion of the welded joint. As one of the possible means to improve quality of the welded joint, application of laser welding process may be recommended. However, the low boiling point of magnesium generates some weld defects, such as porosity and solidification cracking. Furthermore, the small laser beam diameter is very sensitive to edge preparation in butt joint. Accordingly, application of laser/ arc hybrid welding process to magnesium alloy welding was proposed. The laser/ arc hybrid welding process is a new process combining the laser beam and the arc as welding heat source. The laser beam and arc influence and assist one another. By application of hybrid welding, synergistic effects are achievable, and disadvantage of the respective processes can be compensated. In this study, welding of AZ31B magnesium alloy thin plates using YAG laser/ TIG arc hybrid welding process was investigated. In order to confirm the properties of the welded joints, tensile testing was performed
    Type of Medium: Electronic Resource
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  • 5
    Electronic Resource
    Electronic Resource
    Springer
    The journal of real estate finance and economics 7 (1993), S. 221-228 
    ISSN: 1573-045X
    Keywords: Timing of prepayment ; prepayment
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This article develops the analytical methods necessary to determine the prepayment patterns of a mortgage contract. The most obvious measure of how many years a mortgage is likely to last is the expected time to termination. It is this measure that we most fully explore. However, since the method employed is able to characterize the probability of prepayment in any given time period, the means is provided to determine any measure of the time to termination.
    Type of Medium: Electronic Resource
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  • 6
    Electronic Resource
    Electronic Resource
    Springer
    The journal of real estate finance and economics 2 (1989), S. 239-251 
    ISSN: 1573-045X
    Keywords: game theory ; winner's curse ; buyer's remorse
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Taking advantage of recent developments in bargaining theory, we examine the bidding process for residential real estate. Within this game theoretic context, we consider whether the phenomenon of buyer's remorse is compatible with the rationality required of participants.
    Type of Medium: Electronic Resource
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  • 7
    Electronic Resource
    Electronic Resource
    Springer
    The journal of real estate finance and economics 4 (1991), S. 273-281 
    ISSN: 1573-045X
    Keywords: Equilibrium asset pricing models ; consumption-based CAPM ; interest-dependent rates of service flow ; contingent claim analysis
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Recently there has been much research treating housing and other real assets as financial claims, primarily in order to value their derivative assets, such as mortgages and mortgage-backed securities. Real asset prices are then typically modeled as a lognormal process, in the same manner that has traditionally been applied to firm value. The service flow or implicit value of a house is thus considered, in analogy with stock dividends, to be a fixed proportion of the fluctuating house price. We consider the appropriateness of this formulation and draw some distinctions between real assets, such as a house, and investment enterprises, such as a firm. We then propose an alternative method of formulating the service flow and the price of real assets which seems more appropriate to the economic characteristic of such assets.
    Type of Medium: Electronic Resource
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  • 8
    Publication Date: 2023-07-21
    Description: Science Board Meeting 2022 — Note from the Science Board Chair. FUTURE SSC’s 8th Annual Meeting ~ Highlights. PICES-2022 and the first hybrid annual meeting. Featuring PICES-2022 Award recipients: (Chair Award, Wooster Award, Zhu-Peterson Award, PICES Ocean Monitoring Service Award, ECS Best Presentation Awards). PICES-2022 Workshop Reports: (W1: Distributions of pelagic, demersal, and benthic species associated with seamounts in the North Pacific Ocean and factors influencing their distributions, W2: Integrated Ecosystem Assessment (IEA) to understand the present and future of the Central Arctic Ocean (CAO) and Northern Bering and Chukchi Seas (NBS-CS), W3: SmartNet: Promoting PICES and ICES Leadership in the UN Decade of Ocean Science for Sustainable Development, W4: Exploring Engagement Opportunities for Early Career Ocean Professionals (ECOPs) within PICES and Internationally, W5: Integrating biological research, fisheries science and management of broadly distributed flatfish species across the North Pacific Ocean in the face of climate and environmental variability, W7: Anthropogenic stressors, mechanisms and potential impacts on Marine Birds, Mammals, and Sea Turtles, W8: Science Communication Training: How to Create Memorable PICES Science Stories, W10: A TCODE Workshop on “Openly Discoverable, Accessible, and Reusable Data and Information in the U.N. Decade”). PICES AP-NPCOOS "Ocean Big Data" Summer School. PICES AP-CREAMS Virtual Summer School on Ocean Turbulence: From Observing to Research. Science and Innovation to Scale Up Ocean Action: UN Ocean Conference 2022. ECOP Perspective on the 4th Early Career Scientist Conference (ECSC4). Symposium in Lisbon Re-unites the Global Community Investigating Small Pelagic Fish. SPF2022 Symposium Workshop Reports: (1: Application of Genetics to Small Pelagic Fish, 2: The Devil’s in the Details of Using Species Distribution Models to Inform Multispecies and Ecosystem Models, 3: Small Pelagics for Whom? Challenges and Opportunities for the Equitable Distribution of Nutritional Benefits, 4: Evaluating Inter-Sectoral Tradeoffs and Community-Level Response to Spatio-Temporal Changes in Forage Distribution and Abundance, 5: Recent Advances in the Daily Egg Production Method (DEPM): Challenges and Opportunities, 6: Small Pelagic Fish Reproductive Resilience). SOLAS Open Science Conference, 2022. Early Career Scientist Participation in SOLAS Open Science Conference, 2022. PICES SeaTurtle researchers find clues linking derelict fishing lines of “Urban Fishermen” to sea turtle stranding. NPAFC's IYS Synthesis Symposium - Key Takeaways. The Bering Sea: Current Status and Recent Trends. Western North Pacific: Current status and recent topic: Sea Surface Temperature during the 2022 warm season, The Northeast Pacific: Update on marine heatwave status and trends. PICES Events Calendar. PICES by the Numbers, and an Invitation to join SG-GREEN. Open call for PICES Press submissions | About PICES Press
    Description: Published
    Description: Non Refereed
    Repository Name: AquaDocs
    Type: Book/Monograph/Conference Proceedings
    Format: 111
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  • 9
    Publication Date: 2007-12-27
    Print ISSN: 1550-7998
    Electronic ISSN: 1550-2368
    Topics: Physics
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  • 10
    Publication Date: 2005-05-25
    Print ISSN: 1550-7998
    Electronic ISSN: 1550-2368
    Topics: Physics
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