ALBERT

All Library Books, journals and Electronic Records Telegrafenberg

feed icon rss

Your email was sent successfully. Check your inbox.

An error occurred while sending the email. Please try again.

Proceed reservation?

Proceed order?

Export
  • 1
    facet.materialart.
    Unknown
    Frankfurt a. M.: Johann Wolfgang Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften
    Publication Date: 2017-03-15
    Description: In der heutigen Theorie der Optionsbewertung wird davon ausgegangen, daß die Markterwartungen genau berechenbar sind. Die Unsicherheit besteht lediglich darin, welcher Aktienkurs sich letztlich realisiert, die Eintrittswahrscheinlichkeiten sind bekannt. Dabei treten jedoch erhebliche Probleme auf, denn theoretisch erwartete Preise entsprechen oft nicht den am Markt beobachteten. Ziel dieser Arbeit ist es, zu untersuchen, ob auch dann eine Optionsbewertung möglich ist, wenn die Unsicherheit nicht nur auf die Stochastik reduziert wird, sondern wenn zusätzlich angenommen wird, daß Marktteilnehmer nur unscharfes Wissen über künftige Preisentwicklungen haben. Hierbei dient die Fuzzy Set Theorie zur Modellierung der nur größenordnungsmäßig bekannten künftigen Aktienkurse. Es wird in dieser Arbeit zwischen der Optionspreistheorie und der Fuzzy Set Theorie eine Verbindung geschaffen, die es zukünftig erlauben wird, die Unsicherheit im Markt besser zu modellieren, als dies mit heute dominierenden Methoden der Optionsbewertung möglich ist.
    Description: The classical option pricing theory assumes that the future payoffs are known; uncertain is only which payoff will be realized. The probability distribution is given too. But this model leads to a mismatch of theoretical prices and observable market prices. Moreover, it is not reasonable, why everyone should have the same set of crisp payoffs. In this paper we will show that options can also be valued when uncertainty is not reduced to probabilities of payoffs. In our approach the basic model is extended to the case that payoffs are described by fuzzy numbers. By connecting option pricing theory and fuzzy set theory we get a better model of real financial markets. This allows us to establish modern portfolio instruments in a fuzzy environment.
    Keywords: D82 ; G14 ; ddc:330 ; Arbitragebewertung ; Derivate Finanzinstrumente ; Fuzzy-Logik ; Zeitstetige Optionsbewertung Arbitrage ; Contingent claims ; Fuzzy logic ; Options ; Time continuous valuation ; Optionspreistheorie ; Börsenkurs ; Stochastischer Prozess ; Fuzzy Sets ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: German
    Type: doc-type:workingPaper
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
  • 2
    ISSN: 1573-4919
    Keywords: Na+/H+ antiporter ; ethylisopropylamiloride ; human check cell ; buccal epithelium ; saliva ; ionophore
    Source: Springer Online Journal Archives 1860-2000
    Topics: Biology , Chemistry and Pharmacology , Medicine
    Notes: Abstract Proton-dependent, ethylisopropylamiloride (EIPA)-sensitive Na+ uptake (Na+/H+ antiporter) studies were performed to examine if saliva, and ionophores which alter cellular electrolyte balance, could influence the activity of the cheek cell Na+/H+ antiporter. Using the standard conditions of 1 mmol/1 Na+, and a 65:1 (inside:outside) proton gradient in the assay, the uniport ionophores valinomycin (K+) and gramicidin (Na+) increased EIPA-sensitive Na+ uptake by 177% (p 〈 0.01) and 227% (p 〈 0.01), respectively. The dual antiporter ionophore nigericin (K+-H+) increased EIPA-sensitive Na+ uptake by 654% (p 〈 0.01), with maximal Na+ uptake achieved by 1 min and at an ionophore concentration of 50 μmol/l, with an EC 50 value 6.4 μmol/l. Preincubation of cheek cells with saliva or the low molecular weight (MW) components of saliva (saliva activating factors, SAF) for 2 h at 37°C, also significantly stimulated EIPA-sensitive Na+ uptake. This stimulation could be mimicked by pre-incubation with 25 mmol/l KCl or K+-phosphate buffer. Pre-incubating cheek cells with SAF and the inclusion of 20 μmol/1 nigericin in the assay, produced maximum EIPA-sensitive Na+ uptake. After pre-incubation with water, 25 mmol/1 K+-phosphate or SAF, with nigericin in all assays, the initial rate of proton-gradient dependent, EIPA-sensitive Na+ uptake was saturable with respect to external Na+ with Km values of 0.9, 1.7, and 1.8 mmol/l, and V max values of 13.4, 25.8, and 31.1 nmol/mg protein/30 sec, respectively. With 20 μmol/1 nigericin in the assay, Na+ uptake was inhibited by either increasing the [K+]o in the assay, with an ID 50 of 3 mmol/l. These results indicate that nigericin can facilitate K+ i exchange for H+ o and the attending re-acidification of the cheek cell amplifies IINa+ uptake via the Na+/H+ antiporter. The degree of stimulation of proton-dependent, EIPA-sensitive Na+ uptake is therefore dependent, in part, on the intracellular K+ i.
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
Close ⊗
This website uses cookies and the analysis tool Matomo. More information can be found here...