a b s t r a c tThe present study introduces a novel and simple analytical method for the solution of fractional order Riccati differential equation. In this approach, the solution considered as a Taylor series expansion converges rapidly to the nonlinear problem. New homotopy perturbation method (NHPM) depends only on two components of the homotopy series. The method is illustrated by applications and the results obtained are compared with those of the exact solution. Moreover, comparing the methodology with some known techniques shows that the present approach is relatively easy and efficient.
In the present paper, we employ a wavelets optimization method is employed for the elucidations of fractional partial differential equations of pricing European option accompanied by a Lévy model. We apply the Legendre wavelets optimization method (LWOM) to optimize the governing problem. The novelty of the proposed method is the inclusion of differential evolution algorithm (DE) in the Legendre wavelets method for the optimized approximations of the unknown terms of the Legendre wavelets. Sequentially, the functions and components of the pricing models are discretized by utilizing the operational matrix of fractional integration of Legendre wavelets. Illustratively, the implementation of the LWOM is exemplified on a pricing European option Lévy model and successfully depicted the stock paths. Moreover, comparison analysis of the Black-Scholes model with a class of Lévy model and LWOM with q-homotopy analysis transform method (q-HATM) is also deliberated out. Accordingly, the technique is found to be appropriate for financial models that can be expressed as partial differential equations of integer and fractional orders, subjected to initial or boundary conditions.
We construct the approximate solutions of the time-fractional Schrödinger equations, with zero and nonzero trapping potential, by homotopy analysis method (HAM). The fractional derivatives, in the Caputo sense, are used. The method is capable of reducing the size of calculations and handles nonlinear-coupled equations in a direct manner. The results show that HAM is more promising, convenient, efficient and less computational than differential transform method (DTM), and easy to apply in spaces of higher dimensions as well.
The aim of this article is to introduce the Laplace-Adomian-Padé method (LAPM) to the Riccati differential equation of fractional order. This method presents accurate and reliable results and has a great perfection in the Adomian decomposition method (ADM) truncated series solution which diverges promptly as the applicable domain increases. The approximate solutions are obtained in a broad range of the problem domain and are compared with the generalized Euler method (GEM). The comparison shows a precise agreement between the results, the applicable one of which needs fewer computations.
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