Statistics for Finance develops students’ professional skills in statistics with applications in finance. Developed from the authors’ courses at the Technical University of Denmark and Lund University, the text bridges the gap between classical, rigorous treatments of financial mathematics that rarely connect concepts to data and books on econometrics and time series analysis that do not cover specific problems related to option valuation. The book discusses applications of financial derivatives pertaining to risk assessment and elimination. The authors cover various statistical and mathematical techniques, including linear and nonlinear time series analysis, stochastic calculus models, stochastic differential equations, Itō’s formula, the Black–Scholes model, the generalized method-of-moments, and the Kalman filter. They explain how these tools are used to price financial derivatives, identify interest rate models, value bonds, estimate parameters, and much more. This textbook will help students understand and manage empirical research in financial engineering. It includes examples of how the statistical tools can be used to improve value-at-risk calculations and other issues. In addition, end-of-chapter exercises develop students’ financial reasoning skills.
Bridging the gap between theory and practice for modern statistical model building, Introduction to General and Generalized Linear Models presents likelihood-based techniques for statistical modelling using various types of data. Implementations using R are provided throughout the text, although other software packages are also discussed. Numerous
This addition to the ISOR series addresses the analytics of the operations of electric energy systems with increasing penetration of stochastic renewable production facilities, such as wind- and solar-based generation units. As stochastic renewable production units become ubiquitous throughout electric energy systems, an increasing level of flexible backup provided by non-stochastic units and other system agents is needed if supply security and quality are to be maintained. Within the context above, this book provides up-to-date analytical tools to address challenging operational problems such as: • The modeling and forecasting of stochastic renewable power production. • The characterization of the impact of renewable production on market outcomes. • The clearing of electricity markets with high penetration of stochastic renewable units. • The development of mechanisms to counteract the variability and unpredictability of stochastic renewable units so that supply security is not at risk. • The trading of the electric energy produced by stochastic renewable producers. • The association of a number of electricity production facilities, stochastic and others, to increase their competitive edge in the electricity market. • The development of procedures to enable demand response and to facilitate the integration of stochastic renewable units. This book is written in a modular and tutorial manner and includes many illustrative examples to facilitate its comprehension. It is intended for advanced undergraduate and graduate students in the fields of electric energy systems, applied mathematics and economics. Practitioners in the electric energy sector will benefit as well from the concepts and techniques explained in this book.
Why are some regional development strategies adopted and others rejected? Only limited systematic attention has been paid to the politics of regional policy, including the role of institutions, discourse, and political debate in shaping this major area of public policy. The book develops an institutionalist approach to the study of regional policy, capable of spanning major European development paradigms and accounting for the dynamic relationship between organisations, policies and political discourse. This conceptual framework is then applied to the Scottish Development Agency, a development body famed across Europe for its innovative policies but surrounded by political controversy in Scotland. A detailed study of corporate strategies, policy implementation, and the wider British environment questions existing interpretations of the organisation which tend to vilify anti-interventionist Thatcherites or glorify shrewd development professionals. Instead the author proposes an alternative synthesis which highlights the interplay between institutions, discourse and regional development in the politics of regional policy.
When it comes to images, we are all animists. Deep down, we all know that images can – at least potentially – be alive or come to life. Nowadays, we may tend to rationalize our ingrained animism and explain it away as a mere projection only happening in the space between image and viewer. In the Middle Ages, however, imagery made enthusiastic use of magical, miraculous and mechanical means of animation, empowered and ensouled by both natural and supernatural principles of life. This animist book investigates magic, miracles and mechanics as motors of animation and seeks to understand the living image in solidarity with medieval experience rather than dismissive alienation of it. Effigies did bleed, weep or lactate, either through divine intervention or through hydraulic machinery. Statues did move or speak, either as demonic oracles or as talking heads with implanted speaking tubes. Marvels made by magic or by miracles were real, as real as the wonders of physical mechanics moving bodily matter. We just need to look and listen more carefully to comprehend these fluid realities, even when – especially when – they challenge our received worldview. Animation was by no means uncontested or uncontradicted, but even its stiffest critics knew that gods and demons could intervene in inanimate matter to set it in motion, to speak in tongues and exude the liquids of life.
Flexible, Reliable Software: Using Patterns and Agile Development guides students through the software development process. By describing practical stories, explaining the design and programming process in detail, and using projects as a learning context, the text helps readers understand why a given technique is required and why techniques must be combined to overcome the challenges facing software developers. The presentation is pedagogically organized as a realistic development story in which customer requests require introducing new techniques to combat ever-increasing software complexity. After an overview and introduction of basic terminology, the book presents the core practices, concepts, tools, and analytic skills for designing flexible and reliable software, including test-driven development, refactoring, design patterns, test doubles, and responsibility driven and compositional design. It then provides a collection of design patterns leading to a thorough discussion of frameworks, exemplified by a graphical user interface frramework (MiniDraw). The author also discusses the important topics of configuration management and systematic testing. In the last chapter, projects lead students to design and implement their own frameworks, resulting in a reliable and usable implementation of a large and complex software system complete with a graphical user interface. This text teaches how to design, program, and maintain flexible and reliable software. Installation guides, source code for the examples, exercises, and projects can be found on the author’s website.
In this new edition of Renewable Energy Systems: A Smart Energy Systems Approach to the Choice and Modeling of Fully Decarbonized Societies, globally recognized renewable energy researcher and professor, Henrik Lund, sets forth a straightforward, comprehensive methodology for comparing different energy systems' abilities to integrate fluctuating and intermittent renewable energy sources and achieve a fully decarbonized society. The book does this by presenting an energy system analysis methodology, providing the results of more than 15 comprehensive energy system analysis studies, examining the large-scale integration of renewable energy into the present system, and presenting concrete design examples derived from a dozen renewable energy systems around the globe. Renewable Energy Systems, Third Edition also undertakes the socio-political realities governing the implementation of renewable energy systems by introducing a theoretical framework approach aimed at understanding how major technological changes, such as renewable energy, can be implemented at both the national and international levels. This is a valuable resource for researchers, scientists, engineers, project managers, policy makers, consultants, and graduate students with an interest in planning, modelling, and implementation of renewable energy systems. - Provides an introduction to the technical design of renewable energy systems - Demonstrates how to analyze the feasibility and efficiency of large-scale systems to help implementers avoid costly trial and error - Addresses the socio-political challenge of implementing the shift to renewables - Features a dozen extensive case studies from around the globe that provide real-world templates for new installations
At the height of his powers, Per Sidenius, the son of a poor religious minister, is a fortunate man. He has the whole of the approaching twentieth century in his grasp: a fabulously rich Jewish heiress as a soon-to-be wife, burgeoning fame as a forward- and free-thinking man of the ‘New Age’ and success in having put his sorry childhood behind him. But just as he reaches the lofty heights of bourgeois success, Per begins to deeply question his life. A series of events then unfold which Nobel Prize–winning author Henrik Pontoppidan describes with unflinching honesty and intensely human passion. Here is the hectic foment of social and religious debate, the unrepentant greed of finance sharks, the hot coals of pure and illicit love. Then the biggest questions of all – who am I and what have I to do? With A Fortunate Man (1898–1904) one of Denmark’s greatest ever writers manages not only to sound the depths of his nation’s soul but also to paint a huge European canvas stretching from vintage Copenhagen to the sultry heat of Rome at the turn of the nineteenth century. Heralded by such influential figures as Thomas Mann and Georg Lukács as a seminal work, this is a truly breathtaking novel which places Henrik Pontoppidan as one of the true greats of modern European literature.
The political party Danish Unity originated in 1936 and can be seen in the context of general European Fascism. It was impressed by German National Socialism, but also held important reservations against it due to Danish Unity's own Christian and national standpoint. During the German occupation 1940-1945, Danish Unity contributed substantially to the resistance movement, and after the liberation it tried to re-define its ideology under inspiration from the Christian democratic parties in France, Italy and Germany.
Denmark and Switzerland are small and successful countries with exceptionally content populations. However, they have very different political institutions and economic models. They have followed the general tendency in the West toward economic convergence, but both countries have managed to stay on top. They both have a strong liberal tradition, but otherwise their economic strategies are a welfare state model for Denmark and a safe haven model for Switzerland. The Danish welfare state is tax-based, while the expenditures for social welfare are insurance-based in Switzerland. The political institutions are a multiparty unicameral system in Denmark, and a permanent coalition system with many referenda and strong local government in Switzerland. Both approaches have managed to ensure smoothly working political power-sharing and economic systems that allocate resources in a fairly efficient way. To date, they have also managed to adapt the economies to changes in the external environment with a combination of stability and flexibility.
Over the past five decades, the European Union (EU) has developed into the most legally and politically authoritative regional organization in the world, wielding significant influence across a wide range of issue areas. European Union and Environmental Governance focuses on the growing global role of EU environmental and sustainable development policies. Written in a concise and accessible manner, this book introduces and examines the major European and global environmental issues, debates, and policies and provides a critical, evidence-based evaluation of the achievements and shortcomings to date in EU environmental and sustainability governance. Providing both an historical overview and a discussion of the major future legal, political and economic challenges to the realization of EU goals related to better environmental governance, the authors offer a comprehensive introduction to this key issue. This book will be useful reading for students of global environmental politics, comparative environmental politics and policy, international organizations, European politics, and environmental studies.
Upon its release, Don't Break the Oath charted fifth on the official British heavy metal album list and was supported by a two month long sold-out American tour in early 1985. The band's controversial stage appearance with burning crosses, a microphone stand formed as a cross made of two human leg bones, as well as other blasphemous rituals attracted the attention of the then newly formed PRMC (Parental Resource Music Center) committee, ironically reassuring the band its position on the charts. But though the album was hugely popular in the anglophone metal scene, it was conceived in peripheral Denmark. This book discusses the relationship between center and periphery. It juxtaposes the Anglophone reticent of heavy metal with the rather marginalized location of Copenhagen, and examines Mercyful Fate's relation to the Nordic region more generally. It also takes a close look at the methods involved in the production of King Diamond's vocals, and emphasizes the role of the vocalist as just as an important part of the over-all soundscape as the instrumental contributions.
This book contributes to the expanding field of cross-cultural and comparative management, and addresses the issue of whether the main Scandinavian countries – Denmark, Norway and Sweden – exhibit such similarities in management style and practice as to constitute a country cluster. It is based on a qualitative, interview-driven study of managers in companies matched by industry in the three countries and seeks to contextualise the research findings in a general discussion of the Scandinavian countries, showing their intertwined histories and similar institutions and values. The book argues that the central values of these managers are equality, informality, decency, and conflict avoidance; it shows that the behaviour of Scandinavian managers is inspired by these values and that they can be attributed to national culture and not to the peculiarities of any particular industry. Management in Scandinavia will be of interest to students and teachers of international management, as well as practitioners of business and management.
A true neglected classic, this sweeping 1904 novel is a Modernist masterpiece and arguably "the great Danish novel"-- but is only newly available in English. Lucky Per is a bildungsroman about the ambitious son of a clergyman who rejects his faith and flees his restricted life in the Danish countryside for the capital city. Per is a gifted young man who arrives in Copenhagen believing that "you had to hunt down luck as if it were a wild creature, a crooked-fanged beast . . . and capture and bind it." Per's love interest, a Jewish heiress, is both the strongest character in the book and one of the greatest Jewish heroines of European literature. Per becomes obsessed with a grand engineering scheme that he believes will reshape both Denmark's landscape and its minor place in the world; eventually, both his personal and his career ambitions come to grief. At its heart, the story revolves around the question of the relationship of "luck" to "happiness" (the Danish word in the title can have both meanings), a relationship Per comes to see differently by the end of his life.
For the first time in over 30 years, a new ethnographic study emerges on the Bugkalot tribe, more widely known as the Ilongot of the northern Philippines. Exploring the notion of masculinity among the Bugkalot, Cutting Cosmos is not only an experimental, anthropological study of the paradoxes around which Bugkalot society revolves, but also a reflection on anthropological theory and writing. Focusing on the transgressive acts through which masculinity is performed, this book explores the idea of the cosmic cut, the ritual act that enables the Bugkalot man to momentarily hold still the chaotic flows of his world.
Escrita a caballo entre el siglo XIX y el siglo XX, nos sumerge de lleno en la crisis cultural y social que sacude al continente con la irrupción de la modernidad y que no es sino un preámbulo de la crisis de identidad del hombre actual. Por la maestría en la disección de toda una época, la novela de Pontoppidan es sólo comparable a las del alemán Thomas Mann, pero la complejidad de sus personajes y la furia con que se debaten contra su destino la emparentan sobre todo con la obra de Dostoievski, el gran novelista ruso.
Variations on the theme of the ornament in Kracauer's urban writings, suggesting ways in which the subjective can reappropraite urban life. For Siegfried Kracauer, the urban ornament was not just an aspect of design; it was the medium through which city dwellers interpreted the metropolis itself. In Ornaments of the Metropolis, Henrik Reeh traces variations on the theme of the ornament in Kracauer's writings on urbanism, from his early journalism in Germany between the wars to his "sociobiography" of Jacques Offenbach in Paris. Kracauer (1889-1966), often associated with the Frankfurt School and the intellectual milieu of Walter Benjamin, is best known for his writings on cinema and the philosophy of history. Reeh examines Kracauer's lesser-known early work, much of it written for the trendsetting newspaper Frankfurter Zeitung in the 1920s and early 1930s, and analyzes Kracauer's continuing reflections on modern urban life, through the pivotal idea of ornament. Kracauer deciphers the subjective experience of the city by viewing fragments of the city as dynamic ornaments; an employment exchange, a day shelter for the homeless, a movie theater, and an amusement park become urban microcosms. Reeh focuses on three substantial works written by Kracauer before his emigration to the United States in 1940. In the early autobiographical novel Ginster, Written by Himself, a young architect finds aesthetic pleasure in the ornamental forms that are largely unused in the profession of the time. The collection Streets of Berlin and Elsewhere, with many essays from Kracauer's years in Berlin, documents the subjectiveness of urban life. Finally, Jacques Offenbach and the Paris of His Time shows how the superficial—in a sense, ornamental—milieu of the operetta evolved into a critical force during the Second Empire. Reeh argues that Kracauer's novel, essays, and historiography all suggest ways in which the subjective can reappropriate urban life. The book also includes a series of photographs by the author that reflect the ornamental experience of the metropolis in Paris, Frankfurt, and other cities.
The Nordic Voter is the first book-length comparative analysis of voting behaviour in the five Nordic countries: Denmark, Finland, Norway, Sweden, and Iceland. Leading scholars from national election studies teams present a detailed account of voter turnout, party identification, satisfaction with democracy, preferential voting, government support and party choice. The five-nation study is based on a comparative data set prepared uniquely for this book that allows for comprehensive analysis of the diversity in voting behaviour in the Nordic countries, as well as discrepancies between Nordic and non-Nordic countries. The book counters the widespread tendency for comparative analyses to lump Nordic countries together. Its general claim, substantiated by a unique and extensive empirical analysis of voter behaviour, is that the differences between the Nordic countries are in fact so large – in terms of institutional settings and micro-level voting behaviour – that there is no justification for making general claims about a typical ‘Nordic voter’. The authors challenge presumptions about ‘remarkable similarities’ between Nordic voters, revealing numerous examples of remarkable dissimilarities between voters in the Nordic countries.
Seize your place in a new era in commerce and industry In Strategy in The Age of Disruption, a team of dedicated strategists delivers an exciting and practical guide to Industry 4.0, a commercial transformation that’s impacting every facet of the market, the environment, and our social lives. You’ll learn what Industry 4.0 is, what it means for you and your company, and how you—as a leader, manager, expert, entrepreneur, or investor—can capitalize on it and put it into practice. This is a complete handbook on strategic execution. It’s a step-by-step tutorial designed to get you to clearly see your strategic position, the choices available to you, and how to execute on those choices. You’ll also find: Ways to move beyond outdated business models that no longer serve the companies that follow them Common myths about strategy and how to put them to bed for good Deep and insightful explanations of the fourth industrial revolution and what it means for your sector and company Highly visual and endlessly engaging, Strategy in The Age of Disruption will systematically guide you through how to manage the challenges of the present and the promise of the future.
This volume is an enlarged edition of a classic textbook on complex analysis. In addition to the classical material of the first edition it provides a concise and accessible treatment of Loewner theory, both in the disc and in the half-plane. Some of the new material has been described in research papers only or appears here for the first time. Each chapter ends with exercises.
The book is an introduction to quantum mechanics at a level suitable for the second year in a European university (junior or senior year in an American college). The matrix formulation of quantum mechanics is emphasized throughout, and the student is introduced to Dirac notation from the start. A number of major examples illustrate the workings of quantum mechanics. Several of these examples are taken from solid state physics, with the purpose of showing that quantum mechanics forms the common basis for understanding atoms, molecules and condensed matter. The book contains an introductory chapter which puts the concepts of quantum mechanics into a historical framework. The solid-state applications discussed in this text include the quantum Hall effect, spin waves, quantum wells and energy bands. Other examples feature the two-dimensional harmonic oscillator, coherent states, two-electron atoms, the ammonia molecule and the chemical bond. A large number of homework problems are included.
This volume provides an accessible and coherent introduction to some of the scientific progress on functional equations on groups in the last two decades. It presents the latest methods of treating the topic and contains new and transparent proofs. Its scope extends from the classical functional equations on the real line to those on groups, in particular, non-abelian groups. This volume presents, in careful detail, a number of illustrative examples like the cosine equation on the Heisenberg group and on the group SL(2, ℝ). Some of the examples are not even seen in existing monographs. Thus, it is an essential source of reference for further investigations.
This book provides an authoritative analysis of how increasing globalization in the maritime sector challenges the entwined shipping communities of traditional maritime nations. Through an empirical analysis of developments in labor mobility within the maritime sector in Denmark it shows that the shipping companies have been significant providers of competence to the national maritime skills base, but also that their current global factor sourcing choices threaten to dissolve this skills base. These findings have important implications regarding productivity, growth and competitiveness for policy makers and companies in the maritime domain."--Publisher's website
A concise reference to the C# programming language, expanded and updated, with a look ahead at C# 5.0. C# is an object-oriented programming language that is similar to Java in many respects but more comprehensive and different in most details. This book offers a quick and accessible reference for anyone who wants to know C# in more detail than that provided by a standard textbook. It will be particularly useful for C# learners who are familiar with Java. This second edition has been updated and expanded, reflecting the evolution and extension of the C# programming language. It covers C# versions 3.0 and 4.0 and takes a look ahead at some of the innovations of version 5.0. In particular, it describes asynchronous programming as found in 5.0. Despite the new material, C# Precisely remains compact and easy to navigate. It describes C# in detail but informally and concisely, presenting lambda expressions, extension methods, anonymous object expressions, object initializers, collection initializers, local variable type inference, type dynamic, type parameter covariance and contravariance, and Linq (language integrated query), among other topics, all in aabout 250 pages. The book offers more than 250 examples to illustrate both common use and subtle points. Two-page spreads show general rules on the left and relevant examples on the right, maximizing the amount of information accessible at a glance. The complete, ready-to-run example programs are available at the book's Web site, http://www.itu.dk/people/sestoft/csharpprecisely/
Bridging the gap between theory and practice for modern statistical model building, Introduction to General and Generalized Linear Models presents likelihood-based techniques for statistical modelling using various types of data. Implementations using R are provided throughout the text, although other software packages are also discussed. Numerous
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