Jean-Pierre Fouque – författare

The past decade has witnessed a considerable upsurge of clinical and research interest in the problems of developmentally and physically the fields of psychology, disabled persons. Indeed, professionals from special education, rehabilitation, psychiatry, and social work have all directed attention to the development and implementation of evaluation and remedial programs. The heightened activity in this area is in part a result of early assessment research with these popUlations, which provided preliminary evidence of difficulties in social and emotional adjustment in many disabled individuals. In response to these findings, many intervention efforts have been implemented to deal with these issues and improve the life situation of the disabled. Also, there were indications that developmentally and physically disabled children often were deprived of adequate educations. As a result, legal and legislative initiatives have been enacted in recent years to make public education available to all students irrespective of disability. Central to all therapeutic and psychoeducational endeavors with the disabled is psychological evaluation. Only through careful and com­ prehensive psychological evaluation can areas of deficit as well as strengths be identified. Once treatment targets and goals have been ascertained, psychological evaluation is needed to determine the efficacy of intervention strategies. However, the field of psychological evalua­ tion, in general, and with disabled persons, in particular, has become highly specialized. This is largely a function of the changing roles of psychological evaluators.

Our motivation for writing this book is twofold: First, the theory of waves propagating in randomly layered media has been studied extensively during the last thirty years but the results are scattered in many di?erent papers. This theory is now in a mature state, especially in the very interesting regime of separation of scales as introduced by G. Papanicolaou and his coauthors and described in [8], which is a building block for this book. Second, we were motivatedbythe time-reversalexperimentsofM. Finkandhis groupinParis. They were done with ultrasonic waves and have attracted considerable att- tion because of the surprising e?ects of enhanced spatial focusing and time compression in random media. An exposition of this work and its appli- tions is presented in [56]. Time reversal experiments were also carried out with sonar arrays in shallow water by W. Kuperman [113] and his group in San Diego. The enhanced spatial focusing and time compression of signals in time reversal in randommedia have many diverse applications in detection and in focused energy delivery on small targets as, for example, in the - struction of kidney stones. Enhanced spatial focusing is also useful in sonar and wireless communications for reducing interference. Time reversal ideas have played an important role in the development of new methods for array imaging in random media as presented in [19].

This book, first published in 2000, addresses problems in financial mathematics of pricing and hedging derivative securities in an environment of uncertain and changing market volatility. These problems are important to investors from large trading institutions to pension funds. It presents mathematical and statistical tools that exploit the bursty nature of market volatility. The mathematics is introduced through examples and illustrated with simulations and the modeling approach that is described is validated and tested on market data. The material is suitable for a one semester course for graduate students who have had exposure to methods of stochastic modeling and arbitrage pricing theory in finance. It is easily accessible to derivatives practitioners in the financial engineering industry.

Building upon the ideas introduced in their previous book, Derivatives in Financial Markets with Stochastic Volatility, the authors study the pricing and hedging of financial derivatives under stochastic volatility in equity, interest-rate, and credit markets. They present and analyze multiscale stochastic volatility models and asymptotic approximations. These can be used in equity markets, for instance, to link the prices of path-dependent exotic instruments to market implied volatilities. The methods are also used for interest rate and credit derivatives. Other applications considered include variance-reduction techniques, portfolio optimization, forward-looking estimation of CAPM 'beta', and the Heston model and generalizations of it. 'Off-the-shelf' formulas and calibration tools are provided to ease the transition for practitioners who adopt this new method. The attention to detail and explicit presentation make this also an excellent text for a graduate course in financial and applied mathematics.

There is a great deal of research into wave propagation in random media, in such fields as applied mathematics, acoustics, optics, materials science, atomic physics and geophysics. This book provides theoretical and practical introductions at research level to topics such as localization of waves, band gap materials, random matrices, dielectric media, laser cooled atoms, wave scattering from rough surfaces, randomly layered media, seismic waves and imaging the earth.

There is a great deal of research into wave propagation in random media, in such fields as applied mathematics, acoustics, optics, materials science, atomic physics and geophysics. This book provides theoretical and practical introductions at research level to topics such as localization of waves, band gap materials, random matrices, dielectric media, laser cooled atoms, wave scattering from rough surfaces, randomly layered media, seismic waves and imaging the earth.

Our motivation for writing this book is twofold: First, the theory of waves propagating in randomly layered media has been studied extensively during the last thirty years but the results are scattered in many di?erent papers. This theory is now in a mature state, especially in the very interesting regime of separation of scales as introduced by G. Papanicolaou and his coauthors and described in [8], which is a building block for this book. Second, we were motivatedbythe time-reversalexperimentsofM. Finkandhis groupinParis. They were done with ultrasonic waves and have attracted considerable att- tion because of the surprising e?ects of enhanced spatial focusing and time compression in random media. An exposition of this work and its appli- tions is presented in [56]. Time reversal experiments were also carried out with sonar arrays in shallow water by W. Kuperman [113] and his group in San Diego. The enhanced spatial focusing and time compression of signals in time reversal in randommedia have many diverse applications in detection and in focused energy delivery on small targets as, for example, in the - struction of kidney stones. Enhanced spatial focusing is also useful in sonar and wireless communications for reducing interference. Time reversal ideas have played an important role in the development of new methods for array imaging in random media as presented in [19].

The past decade has witnessed a considerable upsurge of clinical and research interest in the problems of developmentally and physically the fields of psychology, disabled persons. Indeed, professionals from special education, rehabilitation, psychiatry, and social work have all directed attention to the development and implementation of evaluation and remedial programs. The heightened activity in this area is in part a result of early assessment research with these popUlations, which provided preliminary evidence of difficulties in social and emotional adjustment in many disabled individuals. In response to these findings, many intervention efforts have been implemented to deal with these issues and improve the life situation of the disabled. Also, there were indications that developmentally and physically disabled children often were deprived of adequate educations. As a result, legal and legislative initiatives have been enacted in recent years to make public education available to all students irrespective of disability. Central to all therapeutic and psychoeducational endeavors with the disabled is psychological evaluation. Only through careful and com­ prehensive psychological evaluation can areas of deficit as well as strengths be identified. Once treatment targets and goals have been ascertained, psychological evaluation is needed to determine the efficacy of intervention strategies. However, the field of psychological evalua­ tion, in general, and with disabled persons, in particular, has become highly specialized. This is largely a function of the changing roles of psychological evaluators.

The main theme of this volume is credit risk and credit derivatives. Recent developments in financial markets show that appropriate modeling and quantification of credit risk is fundamental in the context of modern complex structured financial products. The reader will find several points of view on credit risk when looked at from the perspective of Econometrics and Financial Mathematics. The volume consists of eleven contributions by both practitioners and theoreticians with expertise in financial markets, in general, and econometrics and mathematical finance in particular. The challenge of modeling defaults and their correlations is addressed, and new results on copula, reduced form and structural models, and the top-down approach are presented. After the so-called subprime crisis that hit global markets in the summer of 2007, the volume is very timely and will be useful to researchers in the area of credit risk.