Five systems which use solar energy to heat houses are discussed and evaluated for thermal performance and cost‐effectiveness by the use of a computer simulation model based on a typical Irish house. It is shown that such systems are currently unviable when compared with systems using oil, gas and off‐peak electricity. the most economic solar system is that which uses rock as storage medium. Further, it is demonstrated that thermal performance is relatively insensitive to changes in storage volume.
Abstract. In this paper, we shall validate the optimal payoff of an investment with an N-step utility function, [6,7], such that H* is the payoff at time N in every possible state say 2n; in an N period market setting. Negative exponential, logarithm, square root and power utility functions were considered as the market structures change according to a Markov chain. These models were used to predict the performances of some selected companies in the Nigeria Capital Market. The estimates for models design parameters p, q, p', q' correspond to halving or doubling of investment. The performance of any utility function is determined by the ratio q: q' of the probability of rising to falling as well as the ratio p: p' of the risk neutral probability measure of rising to the falling.
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