New Releases by Ron Chan

Quand le Dr Zomboss cherche à détruire les jardins de la ville et à faire en sorte que les plantes se retrouvent sans abri et sans endroit pour pousser, c'est à Tom, Patty, Dave le dingo et aux plantes de trouver un plan pour l’arrêter ! Cependant, il va s’avérer que ce plan inclue : des chiens, des chats, des lapins, des paresseux et autres animaux de compagnie et quelques dinosaures rendant les choses encores plus dingues !

Minulosť, budúcnosť... A zombie! Už zasa! Geniálny vynálezca a prvotriedny strážca susedstva, ubrblaný blázon Dave, pomôže svojej neteri Patrícii a mladému dobrodruhovi Natovi odraziť ďalší nápor zombií pod vedením desivého Zombossa. Trojica hrdinov za výdatnej pomoci armády rastliniek tentokrát nazrie do minulosti i budúcnosti, pretože zombie sa nevyhýbajú ani cestovaniu časom.

This paper applies an algorithm for the convolution of compactly supported Legendre series (the CONLeg method) (cf. Hale and Townsend 2014a), to pricing/hedging European-type, early-exercise and discrete- monitored barrier options under a Lévy process. The paper employs Chebfun (cf. Trefethen et al. 2014) in computational finance and provides a quadrature-free approach by applying the Chebyshev series in financial modelling. A significant advantage of using the CONLeg method is to formulate option pricing and option Greek curves rather than individual prices/values. Moreover, the CONLeg method can yield high accuracy in option pricing and hedging when the risk-free smooth probability density function (PDF) is smooth/non-smooth. Finally, we show that our method can accurately price/hedge options deep in/out of the money and with very long/short maturities. Compared with existing techniques, the CONLeg method performs either favourably or comparably in numerical experiments.

We introduce a new numerical method called the complex Fourier series (CFS) method proposed by Chan (2017) to price options with an early-exercise feature -- American, Bermudan and discretely monitored barrier options -- under exponential Lévy asset dynamics. This new method allows us to quickly and accurately compute the values of early-exercise options and their Greeks. We also provide an error analysis to demonstrate that, in many cases, we can achieve an exponential convergence rate in the pricing method as long as we choose the correct truncated computational interval. Our analysis indicates that the CFS method is computationally more efficient than the methods currently available. Finally, the superiority of the CFS method is illustrated with real financial data by considering the Standard & Poor's depositary receipts (SPDR) exchange-traded fund (ETF) on the S&P 500 R index options, which are American options traded from November 2017 to February 2018.

There are a range of private financial benefits of residential solar photovoltaic (PV) installation, such as a reduced electricity bill, tax incentives and a feed-in tariff for generated electricity. To empirically analyze how rising electricity prices affect household adoption decisions, we use the 2011 Fukushima nuclear disaster as a natural experiment. The shutdown of nuclear power plants across Japan led to a sizable increase in electricity prices that varied by region, allowing us to identify the effect of electricity prices on household PV system adoption. We find that higher electricity prices are significantly more influential on PV adoption on existing homes than on newly-built homes. Our estimated electricity price elasticity of PV systems ranges from 0.9 to 1.2 for existing homes and is much smaller and statistically insignificant for newly-built homes. We discuss behavioral mechanisms explaining this difference and implications for policies stimulating residential adoption of renewables.

Tretie pokračovanie bláznivého komiksu... Tentokrát so siedmimi bonusovými príbehmi Mladí dobrodruhovia Patrícia a Nate spoločne s ubrblaným strážcom susedstva bláznivým Davom bojovali so zombiami v minulosti i v budúcnosti. Sú však pripravení na novú vlnu akademicky vzdelaných protivníkov? Dokážu čeliť nielen diabolskému plánu Zombossa, ale i ďalšej skupine zombií s ešte diabolskejšími úmyslami? „V kníške sa naučíte kopec zaujímavých vecí. Zombije sú lepčie ako rastliny. Časti s rastlinámi račej preskočte. Tie so zombijami sú omnoho lepšé.“ – recenzia v Zombie News

We apply a new numerical method, the singular Fourier-Pade (SFP) method invented by Driscoll and Fornberg (2001, 2011), to price European-type options in Levy and affine processes. The motivation behind this application is to reduce the ineffciency of current Fourier techniques when they are used to approximate piecewise continuous (non-smooth) probability density functions. When techniques such as fast Fourier transforms and Fourier series are applied to price and hedge options with non-smooth probability density functions, they cause the Gibbs phenomenon; accordingly, the techniques converge slowly for density functions with jumps in value or derivatives. This seriously adversely affects the efficiency and accuracy of these techniques. In this paper, we derive pricing formulae and their option Greeks using the SFP method to resolve the Gibbs phenomenon and restore the global spectral convergence rate. Moreover, we show that our method requires a small number of terms to yield fast error convergence, and it is able to accurately price any European-type option deep in/out of the money and with very long/short maturities. Furthermore, we conduct an error-bound analysis of the SFP method in option pricing. This new method performs favourably in numerical experiments compared with existing techniques.

This paper examines the effect of energy costs on industry export competitiveness. Most studies in the literature use direct energy consumption (energy consumption at the final stage of production) and domestic energy prices to compute energy costs faced by domestic industries. Using multi-country input-output information, this study measures the effect of aggregate energy costs on export performance, where aggregate energy costs include not only direct energy costs, but also indirect energy costs passed on through the upstream supply chain. This study develops a theoretical trade model that incorporates tradable intermediate goods to inform its empirical strategy. It then estimates a reduced-form model using a panel data for 10 manufacturing sectors in 43 countries from 1991 to 2012. The analysis finds that ignoring input-output relationships can lead to significant over- or underestimates of the effect of energy price shocks on exports, depending on intermediate factor intensities and trade relationships. Using estimated trade elasticities, the study simulates the economic consequences of energy cross-subsidies and carbon taxes. The results show that energy cross-subsidies that raise energy tariffs on industry to support lower rates for households and farmers in India could reduce the country's net manufacturing exports by.

This paper develops a complex Fourier series (CFS) expansion pricing formula for evaluating European-type (call/put) options -- asset-or-nothing options, cash-or-nothing options, forward-start options, ratchet options and vanilla options -- when these risky assets are driven by Levy processes, time-changed Levy processes or stochastic volatility with or without jumps. This novel pricing formula is an extension of the original CFS expansion method proposed in Chan (2016). The major contribution of this paper is to derive a CFS pricing formula for both forward-start and ratchet options. In this paper, we also conduct an error-bound analysis of the CFS expansion pricing formula. In most cases, we can obtain an exponential convergence rate when we have an appropriate definite integration range for pricing European-type options. Moreover, based on the pricing formula, we can also derive different option Greeks. Finally, in follow-up papers, we will present the application of this pricing formula to options with early-exercise features (such as American options and barrier options) and path-dependent features (such as Asian options).

Young adventurers Patrice and Nate have followed neighborhood defender Crazy Dave throughout time--but are they ready to investigate a school campus to keep the streets safe from zombies? In Plants vs. Zombies: Bully For You, they'll be visiting a very strange college in an attempt to take down Dr. Zomboss yet again--and any school visit's tolerable if you get to battle zombies! Paul Tobin (Prometheus, Bandette) and Ron Chan (The Guild, X-Men) join forces with the mysterious Anti-Bully Squad to deliver a hilarious, all-ages romp to your school! Featuring special bonus stories illustrated by acclaimed creators Dustin Nguyen, Jennifer Meyer, and Peter Bagge! Praise for previous volumes of the Dark Horse Plants vs. Zombies graphic novel series: "Wonderful fun and silliness await you in this book, and you'll be sure to leave it with a smile on your face and zombie bits on your lawn." -Fanboy Comics "This is one of the more fun video game adaptations that I've read and the most fun I've had with a zombie story since Zombieland." -Front Towards Gamer "If you like Plants vs. Zombies this comic adds to its appeal. It's a good clean read for all ages." -Eat Your Comics

This study quantifies the cost savings from the Acid Rain Program (ARP) compared with a command-and-control alternative and also examines the impact of trading under the ARP on health damages. To quantify cost savings, we compare compliance costs for non-NSPS (New Source Performance Standards) coal-fired Electricity Generating Units (EGUs) under the ARP with compliance costs under a uniform performance standard that achieves the same aggregate emissions. We do this for the year 2002, the third year of Phase II of the program. We find annual cost savings of approximately $240 million (1995$). To examine the health effects of trading, we compute the health damages associated with observed sulfur dioxide (SO2) emissions from all units regulated under the ARP in 2002--approximately 10.2 million tons--and compare them with damages from a No-Trade counterfactual in which each unit emits SO2 at a rate equal to its allocation of permits for the year 2002, plus any drawdown of its allowance bank. Damages under the ARP are $2.4 billion (2000$) higher than under the No-Trade. This reflects the transfer of allowances from EGUs west of the Mississippi River to units in the eastern US with higher exposed populations.

Vous n’avez rien à perdre...si ce n’est votre cervelle !

Boys being boys. Idiots being idiots. Buddies being buddies. Roy's Boys is one comic by two artists. Follow along as best buddies Roy and Shane take turns forming one semi-autobiographical look into their sad little lives. This book collects the third and final year of the twice-weekly webcomic (www.roysboyscomic.com). Share in the jubilation, the heartbreak, the violence, and the dick and fart jokes, all over again, or for the very first time! Warning! Roy's Boys contains crude humor and foul language!

The confusing-yet-brilliant inventor known only as Crazy Dave helps his niece, Patrice, and young adventurer Nate Timely fend off a "fun-dead" neighborhood invasion in Plants vs. Zombies: Lawnmageddon!

Alors qu'il sillonne la Galaxie en compagnie de ses amis Gryph, Jarael et Rohlan, Zayne Carrick croise la route et les intérêts de la plus cruelle organisation criminelle qui soit : le Creuset. Pour sauver son amie Jarael de son obscur passé esclavagiste, le jeune Jedi n'aura d'autre choix que d'infiltrer les rangs de cette impitoyable organisation en tant qu'esclave. Il n'y a pas de peur, il n'y a que la Force... Avant-dernier tome de cette série mythique située dans le lointain passé de la saga et dans lequel sont révélés des épisodes inédits de la vie de Malak et Revan. personnages emblématiques du jeu vidéo Star Wars Knights of the Old Republic.

Do you dare find out what's happening behind the counters of your neighborhood fast-food joint? Then grab a bucket and dive into one of the creepiest graphic novels of the year! Supersized: Strange Tales from a Fast-Food Culture is an entertaining—and at times gut-wrenching—series of stories focusing on America's ubiquitous and potentially destructive fast-food culture. A perfect companion to Super Size Me, the graphic novel bridges the gaps between humor, fact, and heart, while peering behind the scenes of the fast-food world. • Written by Morgan Spurlock with writer Jeremy Barlow and drawn by a variety of creators, Supersized: Strange Tales from a Fast-Food Culture is an original graphic-novel companion to the Academy Award-nominated movie and expands on some of the bizarre stories not featured in the original film. • The creative brain trust behind The Simpsons chose Morgan Spurlock (Super Size Me, 30 Days, Where in the World Is Osama bin Laden?) to direct the Simpsons twentieth-anniversary documentary.

Wouldn’t it be great if you could have two of the world’s most accomplished and sought-after graphic artists sitting next to you at your computer as you navigate the infinite possibilities of Adobe Illustrator CS2? How to Wow with Illustrator CS2 is the next-best thing. Two Illustrator powerhouses—Ron Chan and Barbara Obermeier—both renowned graphic designers and trainers, have developed an effective way to help you reach your full creative potential. Ron and Barbara guide you step-by-step through real-world techniques, with an emphasis on uncompromising quality, last-minute flexibility, and go-home-at-night speed! You’ll learn tips and techniques on everything from sophisticated typography to commercial graphics approaches using Illustrator CS2. You’re given the inspiration and know-how at every stage of the creative process in order to learn How to Wow! This book begins with the essentials of Illustrator, including effectively working with layers and tools and integrating with other applications, and then moves on to innovative ideas for making your graphics and typography dazzle the eye. You’ll encounter fascinating techniques for giving your work that competitive, professional edge.

Knights of the Old Republic: Destroyer begins with an untold chapter from the lives of Malak and Revan -- stars of the KotOR video game! From there, it takes us to a death-defying shootout on the face of a comet and into the heart of one of the cruelest organizations in the galaxy -- the Crucible. Former Padawan Zayne Carrick risks not just his life, but also his sanity, to help his friend Jarael face her dark past. Zayne may have set off for adventure, but what he finds are irreversible consequences for himself and his crew in a dangerous, unforgiving galaxy. * Featuring Malak and Revan from the Knights of the Old Republic video game!