The 7 Habits of Highly Effective People: Conversation Cards from TableTalk: Conversation Starters for Highly Effective Living

Book Description

Weather Derivative Valuation is the first book to cover all the meteorological, statistical, financial and mathematical issues that arise in the pricing and risk management of weather derivatives. There are chapters on meteorological data and data cleaning, the modelling and pricing of single weather derivatives, the modelling and valuation of portfolios, the use of weather and seasonal forecasts in the pricing of weather derivatives, arbitrage pricing for weather derivatives, risk management, and the modelling of temperature, wind and precipitation. Specific issues covered in detail include the analysis of uncertainty in weather derivative pricing, time-series modelling of daily temperatures, the creation and use of probabilistic meteorological forecasts and the derivation of the weather derivative version of the Black-Scholes equation of mathematical finance. Written by consultants who work within the weather derivative industry, this book is packed with practical information and theoretical insight into the world of weather derivative pricing.

Customer Reviews:

An effective introduction.......2005-12-06

Many businesses, particularly ones that specialize in energy and agriculture, can be subjected to severe financial impact by changes in the weather. Techniques from financial engineering can be used to manage the financial risk involved in these changes, and are structured as swap, call, and put contracts based on `weather indices'. These financial instruments are referred to as `weather derivatives' and are the subject of this book. The weather indices are typically the `heating degree day' (HDD), and the `cooling degree day' (CDD), but could also be such quantities as precipitation, snowfall, and humidity. The HDD (for a particular day) is usually defined as the maximum difference (bounded below by zero) between a chosen baseline temperature and the average temperature. The CDD is the difference between the average temperature and a baseline (again bounded below by zero).

A perfect weather derivative would be designed so as to eliminate all risk due to the weather. For example, if the temperature is to be the index of choice, then one would like to be able to `hedge' so successfully so as to make, as far as the affected industry is concerned, the weather effectively irrelevant. This of course is not possible, due to the unavailability of perfect forecasts. However, one can enter into weather derivative contracts that will enable the affected industry to manage their weather risk in a manner that that makes use of what can actually be predicted in weather forecasts, with the remaining uncertainty being hedged. Possible lost revenue due to adverse weather can be hedged for example by a weather derivative that will give a revenue stream that is based on the forecast error.

Like all other financial instruments, there will be a cost associated with weather derivative contracts. Within the scope of propriety, the authors have given an excellent introduction to the methodologies used to price weather derivatives, and how to perform risk management of portfolios based on weather derivatives. Since the underlying weather indices are not traded, pricing based on arbitrage is more involved for the case of weather derivatives. The authors though show how arbitrage pricing can be done, and also give in-depth discussion on other pricing strategies, these being classified as `actuarial' and `market-based' pricing. Actuarial pricing, as the name implies, involves calculating the probabilities of all future outcomes of a contract or portfolio of contracts, while market-based pricing is based on the actual prices that are observed in the market. Arbitrage pricing can be done in locations where the option is actively traded. Otherwise, the authors show how a swap contract defined on the index can be used to obtain dynamic hedging. However, they remark that this pricing strategy is not widely done at the time of writing. Actuarial pricing thus dominates the discussions in the book.

The mathematical modeling involved in weather derivatives can be difficult, due in part to the fact that the underlying weather indices are nonstationary, i.e. they are characterized by variations and trends with scales greater than the length of the historical record. In addition, the weather indices exhibit a high degree of autocorrelation. Also, the actual measurement of volatility can be problematic, due to sparse data sets or even the unavailability of data. Further, arriving at a general method for estimating volatility is difficult since the exposure to weather risk is highly variable between different companies.

One method of valuing single contracts discussed early on in the book is called `burn analysis', and can be viewed as a step above a quick back-of-the-envelope calculation. It attempts to value a contract based on how it would have performed in the past. The authors estimate the fair strike for a swap, i.e. the strike that gives an expected value of zero, using burn analysis. This involves using the (detrended) historical index values and the calculation of the mean of this data to estimate the expected index. The authors show how to incorporate `risk loading' to model more closely what is actually going on in the trading of swaps. They also show how to apply the burn analysis to options, calculating the `fair premium' by using the historical pay-offs, with the mean of this data being the expected pay-off.

The most interesting part of the book is the one on arbitrage pricing models. The price charged for a weather contract will be influenced by the possibility of hedging, which is different from actuarial pricing, which is based on diversification. The arbitrage pricing mechanism that the authors discuss is restricted to weather swaps, and they review arbitrage theory both from the standpoint of partial stochastic differential equations and from measure theory. The swaps are all assumed to be linear and based on linear degree days. The authors derive the stochastic differential equations for the swap price to obtain a version of the Black-Scholes equation for weather swaps trading with a premium. They also derive, using a hedging strategy based on forward contracts, the partial differential equation satisfied by the price of the weather option. The solution of this equation gives the arbitrage price, which interestingly turns out to be the same as the actuarial fair price without risk loading. This is due to the absence of drift in the discounted swap price and also the fact that there is no expected loss on the swaps. The authors' algorithm for calculating the arbitrage price for options consists of taking the market swap price to be the expected index, using this to calculate the expected pay-off, and then discounting this quantity to give the arbitrage price. This algorithm is done assuming knowledge of the standard deviation of the settlement index. Their algorithm is interesting, but its validation is not discussed in the book. Readers will have to consult the references for further discussion on this important issue. To gain confidence in the efficacy of the algorithm will of course require it be used in real-life trading or risk management.

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Explores the close relationship between judicial institutions and the social fabric of early modern Quito

Book Description

Irrigation continues to be a vital component of human existence. The study of irrigation bureaucracy, however, is a new field for study. Defining and shaping this area of inquiry, Managing Irrigation offers analytical and prescriptive conclusions to improve the performance of bureaucracies responsible for irrigation management in developing countries. Uphoff and his colleagues envision irrigation as both a socio-technical and organizational-managerial enterprise; that considering cultural and organizational factors are as important as technological ones. Managing Irrigation develops a typology of irrigation systems and looks at differences in structures; considers objectives of irrigation management; and suggests alternatives, principles, and past experience to make irrigation agencies more effective. As such, policymakers, administrators, students, and scholars in development studies, Third World studies, political science, and sociology will find this volume most useful. "This book makes no claims to be definitive or complete: It emphasizes pragmatic approaches to problems which will be shaped by the physical, political and social characteristics of each specific irrigation scheme. This modest and sympathetic approach seems likely to reach and to influence its intended audience, and the authors are to be warmly congratulated." --Journal of Peasant Studies "It emphasizes pragmatic approaches to problems which will be shaped by the physical, political, and social characteristics of each specific irrigation scheme. This modest and sympathetic approach seems likely to reach and to influence its intended audience, and the authors are to be warmly congratulated." --Journal of Peasant Studies

The Irrigation Sector (South Asia Rural Development Series)

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The Irrigation Sector (South Asia Rural Development Series)

Manufacturer: World Bank
ProductGroup: Book
Binding: Paperback

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Water Supply & Land Use | Nature & Ecology | Science | Subjects | Books

General | Agricultural Sciences | Science | Subjects | Books

Agricultural | Economics | Business & Investing | Subjects | Books
ASIN: 0821344641

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The Irrigation Sector (South Asia Rural Development Series)

Manufacturer: World Bank Publications
ProductGroup: Book
Binding: Hardcover

General | Real Estate | Business & Investing | Subjects | Books
ASIN: 8170239052

Irrigation Training in the Public Sector: Guidelines for Preparing Strategies and Programs (E D I Technical Materials)

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Irrigation Training in the Public Sector: Guidelines for Preparing Strategies and Programs (E D I Technical Materials)

Manufacturer: World Bank Publications
ProductGroup: Book
Binding: Paperback

General | Popular Economics | Business & Investing | Subjects | Books

Water Supply & Land Use | Nature & Ecology | Science | Subjects | Books

General | Agricultural Sciences | Science | Subjects | Books

Agronomy | Agricultural Sciences | Science | Subjects | Books

Crop Science | Agricultural Sciences | Science | Subjects | Books

ABU DHABI - The Power Sector.: An article from: APS Review Downstream Trends

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ABU DHABI - The Power Sector.: An article from: APS Review Downstream Trends

Manufacturer: Pam Stein/Input Solutions
ProductGroup: Book
Binding: Digital

General | Business & Investing | Subjects | Books

Book Description

This digital document is an article from APS Review Downstream Trends, published by Pam Stein/Input Solutions on January 3, 2005. The length of the article is 1955 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: ABU DHABI - The Power Sector.
Publication: APS Review Downstream Trends (Newsletter)
Date: January 3, 2005
Publisher: Pam Stein/Input Solutions
Volume: 64 Issue: 1

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Building Hong Kong: Nepalese labour in the construction sector (1).: An article from: Journal of Contemporary Asia

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Building Hong Kong: Nepalese labour in the construction sector (1).: An article from: Journal of Contemporary Asia
Stephen Frost
Manufacturer: Journal of Contemporary Asia Publishers
ProductGroup: Book
Binding: Digital

Management | Management & Leadership | Business & Investing | Subjects | Books

Hong Kong | Asia | History | Subjects | Books

Nepal | Asia | History | Subjects | Books

Book Description

This digital document is an article from Journal of Contemporary Asia, published by Journal of Contemporary Asia Publishers on August 1, 2004. The length of the article is 6904 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Building Hong Kong: Nepalese labour in the construction sector (1).
Author: Stephen Frost
Publication: Journal of Contemporary Asia (Refereed)
Date: August 1, 2004
Publisher: Journal of Contemporary Asia Publishers
Volume: 34 Issue: 3 Page: 364(13)

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Environmental and socio-economic impacts of institutional reforms on the agricultural sector of Vietnam [An article from: Agriculture, Ecosystems and Environment]

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Environmental and socio-economic impacts of institutional reforms on the agricultural sector of Vietnam [An article from: Agriculture, Ecosystems and Environment]
D. D'haeze , J. Deckers , D. Raes , T.A. Phong , and Loi
Manufacturer: Elsevier
ProductGroup: Book
Binding: Digital

Water Supply & Land Use | Nature & Ecology | Science | Subjects | Books

Elsevier | By Publisher | e-Docs | Formats | Books
ASIN: B000RR1Q2W

Book Description

This digital document is a journal article from Agriculture, Ecosystems and Environment, published by Elsevier in 2005. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
After the reunion of North and South Vietnam in 1975, the area under small-holder, irrigated cultivation of Robusta coffee increased by a factor of 10 in the Central Highlands. The actual coffee acreage in Dak Lak province is estimated to be over 260,000ha, representing 60% of the national production, with 405,000tyear^-^1 for the world market. Vietnam is presently the second largest exporter worldwide and expansion is still going on. In cooperation with the National Institute for Agricultural Planning and Projection (NIAPP), a 5-year development project ''Land Evaluation for Land Use Planning and Development of Sustainable Agriculture in the Central Highlands of South Vietnam'' was set up, with a goal of diagnosing the sustainability of the rapidly expanding Robusta coffee sector in Central Vietnam. This paper describes the reasons for this quick expansion and investigates the consequences in ecological and social terms. This is done based on a large-scale natural resources inventory, land suitability analysis for Robusta coffee and participatory rural appraisal combined with secondary statistical records from Dak Gan commune. It is representative of the Central Highlands in terms of geomorphological and pedological variability, ethnic identity and with regard to trade-offs between forest conservation and coffee expansion at the cost of available water stocks. Local institutional reforms in the eighties have accelerated coffee expansion in three ways: demographic resettlement, socio-economic liberalization and legislation towards land ownership. Interaction between these three factors has induced a second spontaneous migration flow towards the Highlands in the nineties. Forest area declined by 19% and was converted to coffee plantations, encouraged by the high economic return of this cash crop. The results indicate that this has happened in an haphazard manner and led to a mismatch between the present land use pattern and the natural resource base. Unsustainable land use manifests itself at four levels. (i) The areal limits for sustainable coffee production have been exceeded. (ii) As a consequence over 74% of the present coffee stand is situated on sub-optimal land units. (iii) An excessive coffee area in combination with over-irrigation is likely to deplete groundwater resources. (iv) And paradoxically 24.3% of suitable soils for coffee production is still under forest in Dak Gan. In turn this leads to large-scale environmental and socio-economic decline: soil erosion, water scarcity and social inequity resulting in conflicts between migrants and the indigenous tribes. Besides local reforms, world trade liberalization changed the global coffee market in the late nineties from a regulated system to a free trade market. This fostered global oversupply, which in combination with a stagnant coffee demand suppressed the world market price. Since Vietnam became the second world producer of Robusta, prices have declined by a factor of 3, not only affecting the local sector but households worldwide.

Terrorism and security issues facing the water infrastructure sector.: An article from: Congressional Research Service (CRS) Reports and Issue Briefs

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Terrorism and security issues facing the water infrastructure sector.: An article from: Congressional Research Service (CRS) Reports and Issue Briefs
Claudia Copeland , and Besty A. Cody
Manufacturer: Thomson Gale
ProductGroup: Book
Binding: Digital

Book Description

This digital document is an article from Congressional Research Service (CRS) Reports and Issue Briefs, published by Thomson Gale on May 1, 2006. The length of the article is 7976 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Terrorism and security issues facing the water infrastructure sector.
Author: Claudia Copeland
Publication: Congressional Research Service (CRS) Reports and Issue Briefs (Report)
Date: May 1, 2006
Publisher: Thomson Gale
Page: NA

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Capacitacion para riego en el sector publico: Lineamientos para la preparacion de estrategias y programas (Documento tecnico del IDE)

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Capacitacion para riego en el sector publico: Lineamientos para la preparacion de estrategias y programas (Documento tecnico del IDE)

Manufacturer: El Banco
ProductGroup: Book
Binding: Unknown Binding

Water Supply & Land Use | Nature & Ecology | Science | Subjects | Books

General | Agricultural Sciences | Science | Subjects | Books

Spanish | Foreign Language Nonfiction | Nonfiction | Subjects | Books

Recursos Naturales | Al Aire Libre y La Naturaleza | Libros en español | Formats | Books

The diffusion of photovoltaics: Background, modeling and initial reaction of the agricultural - irrigation sector (MIT Energy Laboratory report)

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The diffusion of photovoltaics: Background, modeling and initial reaction of the agricultural - irrigation sector (MIT Energy Laboratory report)
Gary L Lilien
Manufacturer: Massachusetts Institute of Technology, Energy Laboratory in association with the Sloan School of Management and the Dept. of Urban Studies and Planning
ProductGroup: Book
Binding: Unknown Binding
ASIN: B0006X2DDS

Book Description

Much new data and many new ideas have emerged in the area of ore geology and industrial minerals since publication of the second edition of this successful text in 1987. The overriding philosophy behind this new edition is the inclusion and integration of this material within the established framework of the text. The third edition is re-presented in the modern, favoured double-column format. Non-metallic deposits of industrial and bulk materials are fully covered to meet the changing emphasis of courses in applied geology. Chapter I has been considerably enlarged to include a section on mineral economics covering metals, industrial minerals and bulk materials. In this section, the various aspects of economic exploitation of industrial and bulk materials are compared with those of metallic deposits. Other major revisions and additions include a section on fluid inclusions; expansion of the section on wall rock alteration; expansion of the material on isotope studies; and the inclusion of a section on hydraulic fracturing and seismic pumping.

Book Description

TEACH YOURSELF PHYSICS

This comprehensive introduction to the main branches of physics is specifically targeted to those who have no prior knowledge of the subject. Easy-to-follow diagrams and clear, concise examples help newcomers grasp major concepts and essential formulas. The text highlights important recent discoveries in physics and relates scientific theories to familiar and practical situations.

Customer Reviews:

I made a mistake. Don't make the same one yourself........2004-02-03

I cannot warn you strongly enough against buying this book. Were it possible, I would rate this at 0 stars. Supposedly it is written by an experienced professor and lecturer. If this is in fact true, I hope he no longer is employed by any reputable university. As a sophomore who has been away from school for some time, I bought this sight unseen from Amazon.com, intending to use it as a refresher prior to the end of my military service and before I re-entered college. I have found it riddled with factual errors, lacking in its depth and misguided in its focus.

The book attempts to introduce the reader to chemistry, then produces a table with the first 11 elements and their valences, leaving the rest unknown. It does the same for molecular physics, then states that an electron is 2000 times more massive than a proton. It touches on astronomy, then claims the Grand Canyon was created by a meteorite impact. It tries to discuss Einstein's concept of space-time, but does absolutely nothing for relating the actual formulae or demonstrating the concept in any way to help the reader understand it. The book does however waste the paper to discuss what would happen if the sun's mass was turned into a black hole, and how even though Sol's mass is unchanged, it would mysteriously begin sucking in nearby stars. It talks about the speed of light and refraction through a clear substance, then mentions two theories, one which claims light travels slower through denser materials, one which claims light moves faster- and never states which is correct.

Patrick from Sydney apparently meant to review another book, because this is certainly not a 500 page textbook. The 240 pages of material are in a comfortably large font, with little enough real information that each chapter can be read without difficulty in about the same time it takes to read a magazine article. There is no math beyond the most basic of algebra, with a single page devoted to the definition of sine, cosine and tangent so that Snell's law of refraction can even be brought up. The primary focus of this book seems to be a cursorary history of physics, but I would prefer reading a decent encyclopedia's individual entries than the thin overview presented in "Teach Yourself Physics." For the irrelevant discussion on the future of power generation in England and "blue sky research" that was out of date when this book went to the publisher, I would rather pick up a copy of Nature, Smithsonian or Omni.

I thoroughly regret wasting my money and time on this book and urge you not to do so as well.

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GCSE Physics (Teach Yourself Revision Guides)
Jim Breithaupt , and Tony Buzan
Manufacturer: Teach Yourself Books
ProductGroup: Book
Binding: Paperback

Physics | Science, Nature & How It Works | Children's Books | Subjects | Books
General | Education | Nonfiction | Subjects | Books
ASIN: 0340663901

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General Certificate of Secondary Education Physics (Teach Yourself Study Aids)
Brian Arnold
Manufacturer: Teach Yourself Books
ProductGroup: Book
Binding: Paperback

Physics | Science, Nature & How It Works | Children's Books | Subjects | Books
General | Physics | Science | Subjects | Books
ASIN: 0340491582

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A Layman's Guide to Atomic Physics [previously published as Teach Yourself Atomic Power]
J. M. Valentine
Manufacturer: English Universities Press Ltd
ProductGroup: Book
Binding: Paperback
ASIN: B000HCQCCG

Product Description

This book is intended to cover in language as simple as possible, and with the minimum of mathematics, those parts of physics which are concerned with the structure of the atom, the bahavior of electrons and of atomic nuclei. Some members of the public are inclined to dwell on the military aspects when considering the application of atomic energy, and although there is a chapter on "The Bomb," more space is rightly given to the peaceful applications. In this field, Dr. Valentine is an authority, particularly on applications to medicine, diagnostic and curative. [Originally published as "Teach Yourself Atomic Physics"]

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Physics (Teach Yourself 101 Key Ideas)
Jim Breithaupt
Manufacturer: Teach Yourself Books
ProductGroup: Book
Binding: Paperback

General | Science | Subjects | Books

General | Physics | Science | Subjects | Books
ASIN: 0340790482

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Physics (Teach yourself books)
William Railston
Manufacturer: Teach Yourself Books
ProductGroup: Book
Binding: Unknown Binding

General | Physics | Science | Subjects | Books
ASIN: B0007IUAJQ

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Physics (Teach Yourself)
David Bryant
Manufacturer: Hodder and Stoughton
ProductGroup: Book
Binding: Paperback

Physics | Science, Nature & How It Works | Children's Books | Subjects | Books

Physics Teach Yourself Book (Teach Yourself)

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Physics Teach Yourself Book (Teach Yourself)
David Bryant
Manufacturer: Dover Pubns
ProductGroup: Book
Binding: Paperback

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Teach Yourself 101 Key Ideas: Physics
Jim Breithaupt
Manufacturer: McGraw-Hill Companies
ProductGroup: Book
Binding: Paperback

General | Self-Help | Health, Mind & Body | Subjects | Books

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General | Physics | Science | Subjects | Books

Book Description

The subject of physics encompasses topics including black holes, quasars, nuclear reactors, superconductors and thermodynamics. Teach Yourself 101 Key Ideas: Physics contains short accounts of 101 key ideas in physics arranged in alphabetical order. Each account gives an informative sunmmary of the term.

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TEACH YOURSELF PHYSICS
W. RAILSTON
Manufacturer: HODDER & STOUGHTON
ProductGroup: Book
Binding: Hardcover
ASIN: B000SBZMTU

Book Description

This is the first modernized and edited version of the 1622 text of Othello. It consists of a detailed introduction, quarto text, select collation and textual notes and is an important book for scholars in Shakespeare and Elizabethan-Jacobean drama, with wide ramifications for other Shakespeare textual studies and for students of early theatre history.

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