This paper aims to derive the Black-Scholes equation for readers without advanced knowledge in finance and mathematics. To succeed, this paper contains a theoretical chapter in which concepts such as options, interest rate, differential equations and stochastic variable are explained. This paper also presents the theory of stochastic processes such as the Wiener process and Ito process. In the chapter on the Black-Scholes model the Ito process is used to describe price of shares and with the help of Ito's lemma Black-Scholes equation can be derived. In the paper, assumptions are listed that apply to the Black-Scholes model and then uses the Black-Scholes equation to calculate the price of a European call option.

This paper aims to derive the Black-Scholes equation for readers without advanced knowledge in finance and mathematics. To succeed, this paper contains a theoretical chapter in which concepts such as options, interest rate, differential equations and stochastic variable are explained. This paper also presents the theory of stochastic processes such as the Wiener process and Ito process. In the chapter on the Black-Scholes model the Ito process is used to describe price of shares and with the help of Ito's lemma Black-Scholes equation can be derived. In the paper, assumptions are listed that apply to the Black-Scholes model and then uses the Black-Scholes equation to calculate the price of a European call option.

The purpose with this masters thesis was to model the scanner in a system for laser bathymetry. The model was then used to develop a controller for the scanner so a good search pattern was achieved. Two different types of models have been tested, a physical model and a Black box model of Box Jenkins type. The physical model has been derived from Lagranges equations. Identification experiments have been used to compute the Black box model and to find the unknown parameters in the physical model.

PURPOSE: To find out how identity creating and community utter within the Black Metal culture, to get an insight of why people are drawn to Black Metal, and what function it fills to the adherents/practicians.METHOD: Analyses of interviews done by the authors. In addition to them literature, mainly in book form, is used for theories.RESULT: We have seen that there are shared Black Metal values, despite a strong individualism within the culture. And death is important for the survival of the culture and the individuals..

In this paper I have sought a suitable level of abstraction in my models describing the landscape; the models are made to be viewed from eyelevel. Because of the spectator being ?in the model? the objects included need a certain degree of realism. I have sought what is needed in the model to be able to comprehend that the model is showing a landscape. Some details might be unnecessary.

Min uppsats har visat på black metal-stilens betydelse för fyra ungdomars identitetsskapande. Jag har med koppling till teoretiska infallsvinkar och begrepp rörande stilars och kulturers betydelse diskuterat black metal-kulturen med fokus på dess stilmässiga uttryck, dess symbolanvändande och dess innebörd för ungdomarnas självbild.I min studie har jag diskuterat och redogjort för hur black metal-kulturen kan te sig genom att förklara hur musiken låter och hur stilens uttryck i form av kläder och frisyrer kan se ut. Uppsatsen har visat på hur symboler och kodsystem används av ungdomarna inom ramen för kulturen för att markera och positionera sin identitet. Jag har i min studie även visat hur black metal-stilen kan vara ett existentiellt ställningstagande mot kommersialism och mainstreamkultur..

Evaporation is a part of the chemical recovery department at wood pulping mills. The purpose of evaporation is to remove water from the black liquor, which makes the liquor combustible. The process is very energy demanding, and having a well-functioning model of the system is of greatest interest. The model can then be used to study energy consumption and to test different control strategies. Two models have been developed during the master thesis.

En sammanfattning av uppsatsen på maximalt 8000 tecken..

AbstractRelationships between white women and black men have become a topic of interest in various discussion forums. By examining different arguments within certain discourses, it becomes clear that discourses that have a distinct autocrat outline, i.e. a closed and declaring nature which excludes alternative discursive arguments, also define these relationships as different and deviant in comparison to relationships that does not encompass and include the constellation white women and black men. As a result of the use of autocrat discourses the white women and black men who enter into relationships are displaced and positioned as subaltern. A position which, on the one hand, allows for uninhibited criticism, but, on the other hand, and most importantly, it is a position from where they can be defined by others.

I uppsatsen studeras diskrepansen mellan Black-Scholes prissättningsmodell och prissättningen på marknaden för OMXS30-optioner ? i ett delta hedging-perspektiv.Resultaten i uppsatsen antyder att Black-Scholes modell ger för höga D -värden för OMXS30 köpoptioner och likaså ger modellen för höga D -värden för OMXS30 säljoptioner gentemot verkligheten, under testperioden..

A common problem in forestry is plant death caused by frost. The risk of frost is highest on wind protected, flat or low-lying areas in the terrain. Here you often have regeneration problems with Norwegian spruce which is especially sensitive to spring frost. Swedish tree experiments have shown that the black spruce can be a suitable alternative on these areas, for example on moisture frost prone areas. The species originates from North America and its pioneer tree characteristics make it more frost hardy than Norwegian spruce.

Black nightshade (Solanum nigrum L.) is a major problem in gardenpea cultivations contracted by Findus AB, a Swedish food processing company. The main problem is that the nightshade berries contain solanin and, thus, are not tolerated in the marketed product, which is fresh frozen peas. In addition, berries have the same size and color as the peas and cannot be separated at the factory. Black nightshades have the last ten years become a more common weed in field grown vegetables in the southern parts of Sweden. This MSc thesis presents an experiment conducted in 2005, aiming at developing a tool for predicting the need for control of black nightshade in peas.

Syftet med denna uppsats är att med tre GARCH-modeller skatta volatiliteten för fjorton aktier med t- och normalfördelade slumptermer. Dessa volatiliteter implementeras sedan i Black-Scholes modell samt i Monte-Carlo simuleringar och utfallen av dessa två värderingsmetoder jämförs.Författarna har kommit fram till att GARCH-modeller behövs för att skatta volatiliteten för de aktier som ingår i arbetet då modellerna tar hänsyn till den föreliggande heteroskedasticiteten.De skillnader som uppstår mellan Monte-Carlo simuleringar och Black-Scholes modell beror främst på skillnader mellan normal- och t-fördelningen samt att volatiliteten ger större effekt i Monte-Carlo simuleringarna. Författarna kan inte uttala sig om huruvida Monte-Carlo skattningarna ger bättre resultat än den vedertagna Black-Scholes modell, däremot är Monte-Carlo mer teoretiskt korrekt..

This study examines the background and nature of the credit default index swaption (CDIS) and presentsrelevant methods for modelling credit risk. A CDIS is a credit derivative contract that gives the buyerright to enter into a credit default index swap (CDS index) contract at a given point in time. ACDS index, in turn, is a multi-name credit default swap (CDS). Within the eld of research, thisthesis identi es the CDIS pricing models presented by Jackson (2005), Rutkowski & Armstrong (2009)and Morini & Brigo (2011) as the most recognized and developed. These models are evaluated byreconstruction in a numerical software environment.

This work investigates the breeding success of the Black-throated Diver, Gavia arctica, related to the water quality in three lakes located in the Vallentuna area, north of Stockholm, Sweden.For more than 30 years, I have studied the bird life around these three and other nearby lakes, and noticed that the Black-throated Diver breeds in some lakes, but not in others.The results confirm that the deep and clear lakes Tärnan and Stora Harsjön have good water quality regarding pH, alkalinity, aluminium and Secchi disk values. As expected, the Black-throated Diver shows breeding success in those two lakes, but does not breed in the shallow and eutrophic lake Mysslingen. .