The distribution of the returns for a stock are not well described by a normal probability density function (pdf). Student's t-distributions, which have fat tails, are known to fit the distributions of the returns. We present pricing of European call or put options using a log Student's t-distribution, which we call a Gosset approach in honour of W.S. Gosset, the author behind the nom de plume Student. The approach that we present can be used to price European options using other distributions and yields the Black-Scholes formula for returns described by a normal pdf.

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A method for quantifying the degree to which the uneven carrier distribution affects the operation of multiple quantum well (MQW) lasers is developed by comparing the net gains of wells in mirror image asymmetric MQW structures. The uneven carrier distribution is found to affect the performance of devices with as few as two quantum wells and decreases the net gain for wells on the n side of a ten quantum well structure by more than a factor of two.

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