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Da Fonseca J.,Auckland University of Technology | Gnoatto A.,Ludwig Maximilians University of Munich | Grasselli M.,University of Padua | Grasselli M.,Leonard Of Vinci Pole University | Grasselli M.,Quanta Finanza S.r.l.
Operations Research Letters | Year: 2015

This paper provides the pricing for a new class of derivatives with different affine stochastic volatility models. These products are characterized by payoffs depending on both stock and its volatility. We provide closed-form solutions for different products and two multivariate Wishart-based stochastic volatility models. The methodology is independent of the dimension of the problem. Overall, our results highlight the great flexibility and tractability of Wishart-based stochastic volatility models to develop multivariate extensions of the Heston model. © 2015 Elsevier B.V. All rights reserved. Source


Fakhoury R.,United Nations Development Programme Office | Aubert B.,Leonard Of Vinci Pole University
International Journal of Information Management | Year: 2015

Active citizenship and trustworthiness may affect behavioural intentions to use e-government services. Such uses of information and communication technologies may improve public administration, yet adoption of e-government systems by end users has remained far below expectations, despite continued efforts in many countries. The low adoption and use of e-government services by end users thus remain major barriers to successful e-government implementation that might be addressed by greater trust in government, the Internet, and technology, as well as increased citizenship beliefs and actions. Active citizenship implies empowered, engaged, participatory citizens. The results of this quantitative study, conducted in the unique setting of Lebanon, show that by developing trustworthiness and active citizenship, citizens will increase their behavioural intention to use of e-government services. Thus, intentions to use public e-services grow stronger when the government foster trustworthiness and empowers average, passive citizens. © 2015 Elsevier Ltd. All rights reserved. Source

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