As human life expectancy continues to increase, longevity risk has become a major concern for pension plan sponsors and annuity providers. To hedge the risk, longevity-linked securities have been developed. Since these securities often have payoffs linked to mortality rates of multiple populations, it is important to investigate the relationship between them. In this thesis, we use England and Wales (EW) and Canadian mortality data for illustration. We consider the long-term equilibrium between the mortality indexes of the two populations through cointegration analysis. Our test shows that structural change occurred in the equilibrium. To capture changes in both equilibrium and autoregression structure, we adopt the Threshold Vector Error Correction Model (TVECM). We find that the TVECM model provides adequate fit to our data. This model is further applied to pricing an illustrative longevity bond. Our numerical results indicate that the changes in the long-term equilibrium have a significant impact on longevity bond prices. / October 2016

The unifying theme of all three chapters of this dissertation is incomplete information games. Each chapter investigates two essential components, namely beliefs and knowledge, of incomplete information games. In particular, the first two chapter studies an alternative equilibrium notion of Sakovics (2001)- mirage equilibrium- and the final chapter introduces a new notion of metric to measure the distance between partitions. All relevant notations and definitions are defined for each chapter so that any of them can be read independently. In the first chapter, I restudy the Purification theorem of Harsanyi (1973) by relaxing the common knowledge assumption on priors for 2 x 2 games. I show that the limit of the (Mirage) equilibrium points in perturbed games generically converge to a pure strategy of the original complete information. This result, unlike the original one in which the limit is a mixed equilibrium point, is reminiscent of risk dominance criterion of Carlsson and van Damme (1993). I also study the conditions for different hierarchy levels that yields risk dominant outcome for coordination games. That is, I give conditions (first order stochastic dominance and monotone likelihood ratio order) that yield the risk dominant outcome of a coordination game as the limit of perturbed game ´a la Harsanyi (1973). In the second chapter, I attempt to provide a generalization of mirage equilibrium for dynamic games in the context of Cournot duopoly in which costs are private information. The task of extending the definition of mirage equilibrium is a nontrivial issue since it is not clear on which level of finite hierarchies of beliefs the update takes place. I take a short-cut to tackle this problem and instead of working on beliefs (probability distributions) directly, I work on the support of them. Broadly speaking, players update their beliefs by eliminating the support of ”types” that do not explain the opponents’ behavior. I show that the limit of this update process converges to a Nash equilibrium of the corresponding complete information game. I also show that the rate of convergence is linear. In the third chapter, I define a new metric to measure the distance between the partitions of a given finite set. I compare the proposed metric with the ones in the literature through examples.

by Wang, Wei Vivian. / Thesis (Ph.D.)--Chinese University of Hong Kong, 1996. / Includes bibliographical references (leaves 237-266). / ACKNOWLEDGEMENTS --- p.viii / SUMMARY --- p.ix / PUBLICATION --- p.xiv / STATEMENT OF ORIGINALITY --- p.xv / LIST OF ABBREVIATIONS --- p.xvi / Chapter CHAPTER 1 --- INTRODUCTION --- p.3 / Chapter 1.1 --- Preamble --- p.3 / Chapter 1.2 --- Free oxygen radicals --- p.7 / Chapter 1.2.1 --- Free oxygen radicals and mechanism of radical damage / Chapter 1.2.1.1 --- What is a free radical? / Chapter 1.2.1.2 --- Mechanism of free radical damage / Chapter 1.2.2 --- Detection and characterisation of free radical species / Chapter 1.2.2.1 --- Direct methods / Chapter 1.2.2.1.1 --- Electron spin resonance (ESR) spectroscopy / Chapter 1.2.2.1.2 --- Chemiluminescence / Chapter 1.2.2.2 --- Indirect methods / Chapter 1.2.2.2.1 --- Lipid peroxidation / Chapter 1.2.2.2.2 --- Protein and DNA oxidation / Chapter 1.2.2.2.3 --- Purine and pyrimidine metabolites / Chapter 1.2.3 --- Free oxygen radicals and major disease / Chapter 1.2.4 --- Oxygen-derived free radicals and fetal hypoxia / Chapter 1.3 --- Acid-base status in cord blood --- p.41 / Chapter 1.3.1 --- Correlation between obstetric clinical events and cord blood acid-base / Chapter 1.3.2 --- Practical implications of cord blood acid-base studies / Chapter 1.4 --- Intrapartum cardiotocography (CTG) analysis --- p.58 / Chapter 1.4.1 --- Base line / Chapter 1.4.1.1 --- Baseline rate / Chapter 1.4.1.2 --- Baseline variability / Chapter 1.4.2 --- Accelerations and decelerations / Chapter 1.4.3 --- Fetal outcome of labour / Chapter 1.4.3.1 --- Fetal heart rate (FHR) changes during labour / Chapter 1.4.3.2 --- Acidaemia during labour / Chapter 1.4.4 --- Computerised analysis of cardiotocogram / Chapter 1.5 --- Intrapartum complications --- p.83 / Chapter 1.5.1 --- Meconium stained amniotic fluid / Chapter 1.5.2 --- Nuchal cord entanglement / Chapter 1.5.3 --- Prolonged 1st and 2nd stage of labour / Chapter 1.6 --- Objectives of project --- p.93 / Chapter CHAPTER 2 --- MATERIALS AND METHODS --- p.98 / Chapter 2.1 --- Materials --- p.98 / Chapter 2.1.1 --- Clinical materials / Chapter 2.1.2 --- Chemicals and reagents / Chapter 2.1.2.1 --- The measurement of malondialdehyde (MDA) / Chapter 2.1.2.2 --- The measurement of organic hydroperoxides (OHP) / Chapter 2.1.2.3 --- The measurement of purine and pyrimidine metabolites / Chapter 2.1.3 --- Equipment / Chapter 2.1.3.1 --- Fetal monitor / Chapter 2.1.3.2 --- Fetal heart rate analysis system / Chapter 2.1.3.3 --- Blood gas analyser / Chapter 2.1.3.4 --- UV-VIS Spectrophotometer / Chapter 2.1.3.5 --- Fluorescence Spectrophotometer / Chapter 2.1.3.6 --- High Performance Liquid Chromatography (HPLC) / Chapter 2.2 --- Investigation Methods --- p.105 / Chapter 2.2.1 --- Blood gas / Chapter 2.2.2 --- Lipid peroxidation in umbilical cord blood / Chapter 2.2.2.1 --- The measurement of MDA / Chapter 2.2.2.2 --- The measurement of OHP / Chapter 2.2.3 --- Purine and pyrimidine metabolites in umbilical cord blood / Chapter 2.2.4 --- Computer analysis of CTG / Chapter 2.2.4.1 --- Data and signal processing / Chapter 2.2.4.2 --- The algorithm / Chapter 2.3 --- Statistical analysis --- p.112 / Chapter CHAPTER 3 --- RESULTS --- p.116 / Chapter 3.1 --- Umbilical blood pH and gas measurements --- p.118 / Chapter 3.2 --- Lipid peroxidation in cord blood plasma --- p.121 / Chapter 3.2.1 --- Validation of assay / Chapter 3.2.1.1 --- Performance characteristics of the MDA assay / Chapter 3.2.1.2 --- Performance characteristics of the OHP assay / Chapter 3.2.2 --- "Inter-relationship among MDA, OHP and acid-base status" / Chapter 3.3 --- Nucleotide metabolites in cord blood plasma --- p.142 / Chapter 3.3.1 --- Calibration of assay / Chapter 3.3.2 --- Inter-relationship among nucleotides and acid-base status / Chapter 3.4 --- Analysis of FHR patterns --- p.150 / Chapter 3.4.1 --- Umbilical blood gas and CTG analysis / Chapter 3.4.2 --- Biochemical parameters and CTG analysis / Chapter 3.5 --- "Relations of umbilical arterial blood pH and gas, lipid peroxidation, purine or pyrimidine metabolites and FHR patterns with intrapartum complications" --- p.166 / Chapter 3.5.1 --- Meconium stained amniotic fluid / Chapter 3.5.1.1 --- Clinical features / Chapter 3.5.1.2 --- Relationship between meconium stained amniotic fluid and biochemical parameters / Chapter 3.5.1.3 --- Relationship between meconium stained amniotic fluid and FHR patterns / Chapter 3.5.2 --- Nuchal cord / Chapter 3.5.2.1 --- Clinical features / Chapter 3.5.2.2 --- Relationship between nuchal cord and biochemical parameters / Chapter 3.5.2.3 --- Relationship between nuchal cord and FHR patterns / Chapter 3.5.3 --- The length of second stage of labour / Chapter 3.5.3.1 --- Clinical features / Chapter 3.5.3.2 --- Relationship between the length of second stage and acidaemia or FHR patterns / Chapter 3.5.4 --- Apgar scores / Chapter 3.5.4.1 --- Clinical features / Chapter 3.5.4.2 --- Relationship between Apgar scores and biochemical parameters / Chapter 3.5.4.3 --- Relationship between Apgar scores and FHR patterns / Chapter 3.5.4.4 --- "Relationship between Apgar scores and nuchal cord, meconium or second stage of labour" / Chapter CHAPTER 4 --- DISCUSSION --- p.189 / Chapter 4.1 --- Blood pH and gas in fetal asphyxia --- p.189 / Chapter 4.2 --- Lipid peroxidation in cord blood at birth --- p.194 / Chapter 4.2.1 --- Method for measurement of the cord plasma MDA / Chapter 4.2.2 --- Method for measurement of the cord plasma OHP / Chapter 4.2.3 --- Relationship between the fetal asphyxia and lipid peroxidation in cord plasma / Chapter 4.3 --- Purine and pyrimidine metabolites in cord blood at birth --- p.203 / Chapter 4.3.1 --- Limitations imposed by the tcchniqucs used / Chapter 4.3.2 --- Relationship between the fetal asphyxia and purine and pyrimidine metabolites in cord plasma / Chapter 4.4 --- Computerised analysis of CTG --- p.210 / Chapter 4.4.1 --- CTG patterns and cord blood acid base balance / Chapter 4.4.2 --- CTG patterns and cord blood biochemical parameters / Chapter 4.5 --- "Intrapartum complications 2,9" / Chapter 4.5.1 --- Meconium stained amniotic fluid / Chapter 4.5.2 --- Nuchal cord / Chapter 4.5.3 --- The length of second stage / Chapter 4.5.4 --- Apgar scores / Chapter CHAPTER 5 --- CONCLUSION --- p.233 / REFERENCES --- p.237

Gasoline spills are sources of groundwater contamination. In the event of a spill, timely remediation efforts can advert most of the potential groundwater contamination due to the immiscibility of gasoline in water. Ethanol functions as a cosolvent that can increase the solubility of gasoline in water. Therefore, the risk of groundwater contamination in the event of a fuel spill increases as the ethanol content in automobile fuels increases. This study examines the effect fuel spill size and ethanol content has on the quantities of toluene, ethylbenzene, m-xylene and o-xylene (TEMO) that dissolve into the aqueous phase at equilibrium. Laboratory experiments were preformed to determine the mass fractions of TEMO in waters that were in contact with various volumes of gasoline and ethanol. UNIFAC is a model capable of predicting the concentrations of TEMO in the aqueous phase of a gasoline-ethanol-water system at equilibrium. In this study, the generalized UNIFAC-LLE method, designed for chemical engineering applications, was used to model the laboratory experiments. New UNIFAC-LLE parameters were developed to improve the model's accuracy in predicting the solubilities of aromatic species in ethanol-water mixtures. The new UNIFAC-LLE parameters were also used to model the laboratory experiments. The modeled results were compared to the analogous laboratory experiments. The UNIFAC-LLE parameters developed in this study improved the model's accuracy in predicting the solubilities of TEMO when the aqueous ethanol mass fraction was between 0.114 and 0.431.

"Excessive discharge of heavy metals has been one of the major causes of water pollution worldwide. Various traditional methods of heavy metal removal have been devised but certain drawbacks like high cost, high energy requirement, and the production of toxic sludge have limited their use. Hence, biosorption is one of the alternative methodologies. This study combined biosorption and diafiltration in an attempt to optimize Polymer Enhanced Diafiltration to study copper removal from aqueous solutions by the use of a biopolymer, lambda-carrageenan. Lambda-carrageenan was studied as a biosorbent owing to properties such as low cost, good water solubility, non-gelling nature and the presence of sulfate groups which can sequester cations. Conditions for binding such as pH, temperature and concentration of copper and lambda-carrageenan were studied. Equilibrium dialysis experiments were performed to study the metal ion membrane transport kinetics and to determine the metal ion binding capacity and strength of the copper-biopolymer association. Rheological measurements were performed to determine how the viscosity of lambda-carrageenan changes with increase in shear stress and with increase in metal concentration. The solution was found to be shear thinning. However, with increase in metal concentration, viscosity was found to increase when high concentrations of polymer (8 g/L and 12 g/L) were used. Solution viscosity was found to decrease with increase in metal concentration when 4 g/L of polymer was used. Polymer Enhanced Diafiltration studies showed no leakage of the polymer through the membrane and no significant binding elsewhere in the PEDF system. It also showed an impressive retention of copper inspite of a rather high metal ion-polymer dissociation constant suggesting a yet not understood series of events occurring on the membrane of the PEDF system. Lambda-carrageenan is a linear polysaccharide, which might be stacking up on the membrane after forming layers, and not allowing any free metal ion to escape. Other reasons could be the sieving effect, degradation of the polymer due to shear and compaction of molecule on metal binding such that the polymer is not itself escaping through the membrane, but also not allowing the free metal ion to escape. Hence, this study suggests the need for more information on the metal-polymer interactions on the surface of the membrane by designing a direct observation experiment with a mini-tangential flow filtration system."

Presale of residential units refers to putting the units on sale before they are completed. The value of presale to the developer comes from the flexibility of timing the presale launch so as to optimize the expected payoff. We model the developer's optimal launch timing as a real option, and the purchaser's series of presale payments with the flexibility to default as compound options. By assuming a stochastic property price process, we derive model frameworks that a risk-averse developer should adopt in launching the presale under single and multiple payment schemes. The frameworks solve the optimal conditions, contract structures, and prices for the launch. We then extend the model to optimize developers' payoffs in monopolistic and imperfect market equilibria. Finally, by assuming a jump-diffusion demand shock process and based on game theoretic approach, we derive sub-game Nash equilibrium optimal strategies that determine when and at what price developers should launch for presale with stochastic or deterministic rare market events. All the models thus derived are subject to probabilities of purchaser defaults, which will happen if the contract prices are too high when compared to market prices. Our model frameworks confirm that the launch option values increase with increases in price growth rates and variances, but decrease in risk-free rates. Furthermore, developers tend to delay the launch when good events are anticipated, while launching presale earlier at lower prices in times of expected bad events. The equilibrium strategies also provide an alternative explanation to oversupply in property markets. We further illustrate effects of rare events on presale launching strategies through government intervention (particularly public housing and housing subsidies) and output flow uncertainty in competitive equilibrium. Our general optimal strategic models are robust in a few aspects. First, we include the time factor that is crucial for some real options. Second, only slight adjustments are required to cope with market changes, or jumps. Finally, the strategies thus derived can be extensively and flexibly applied to other real options which incur multi-stage contingent payoffs, and whose price processes are characterized by stochastic jump-diffusion process. / Lai Neng. / "October 2000." / Source: Dissertation Abstracts International, Volume: 62-01, Section: A, page: 0270. / Supervisor: Ko Wang. / Thesis (Ph.D.)--Chinese University of Hong Kong, 2000. / Includes bibliographical references (p. 184-192). / Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Electronic reproduction. Ann Arbor, MI : ProQuest dissertations and theses, [200-] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / School code: 1307.

Luk Tze Chung. / "August 2003." / Thesis (Ph.D.)--Chinese University of Hong Kong, 2003. / Includes bibliographical references (p. 79-105). / Available also through the Internet via Dissertations & theses @ Chinese University of Hong Kong. / Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Electronic reproduction. Ann Arbor, MI : ProQuest Information and Learning Company, [200-] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Abstracts in English and Chinese. / Luk Tze Chung.

This thesis cover two separate topics related to the function of the mammalian inner ear. Acoustic sensitivity of the vestibular system. Data are presented showing facilitation of the auditory startle response by tones outside the range of the mouse cochlea. The sensation of these low frequency tones is demonstrated to be mediated via the acoustically sensitive sacculus of the vestibular system by data collected from Nox3-/- mice. These mice lack the otoconia of the vestibular system and, unlike the wild-type mice, only show facilitation to tones within the range of the mouse cochlea, and not in response to tones <4 kHz. The mechanical properties of the tectorial membrane (TM). The mechanical properties of the TM are investigated using a laser interferometer-based method for tracking the longitudinal propagation of a radially shearing travelling wave in segments of TM isolated from the basal and apical regions of the wild-type cochlea. The properties of these travelling waves (wave propagation velocity and wave amplitude decay) are tracked over a range of stimulus frequencies (1-20 kHz). The viscoelastic properties, shear storage modulus (G') and shear viscosity (η), are estimated over this frequency range and are found to be lower in the apical TM segments compared to the basal TM segments, indicating the apical region of the TM is less stiff than the basal region. These data are compared to data collected from TM segments isolated from the basal cochlear region of three mutant groups, each lacking expression of TM-specific proteins; α-tectorin (TectaY1870C/+), β-tectorin (Tectb-/-) and otoancorin (OtoaEGFP/EGFP), using the same laser interferometer-based method. The viscoelastic properties are estimated for each of the mutants and indicate varying degrees of loss of structural integrity in their respective TM segments. Reflective difference between the wild-types and mutants are also observed and compared.

No description available.

Magmas experiencing pressure changes can follow equilibrium or nonequilibrium degassing paths that determine the rate of gas exsolution and the composition of gases exsolved. Many variables influence timescales of equilibration between vapor and melt after a perturbation in pressure, temperature, or other factors, and the magnitude of this equilibration time determines whether the system experiences equilibrium degassing or not. In order to create a simplified framework for assessing degassing regime, we constructed a numerical diffusion model to test the sensitivity of equilibration time to variables such as bubble size, spacing, melt temperature, initial and final system pressures, and water content. We then determined the degassing regime for a range of bubble-spacing and decompression rates as an initial simplified framework to build on. We also attempted the first mixed-volatile continuous decompression experiments in order validate our model and further improve analyses and interpretations of volatile gradients in natural samples.