17504 research outputs found
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The Impact of Liquidity on Real-World Option Pricing
No full textThe options market plays a critical role in price discovery and risk management. This study examines how option liquidity and Greeks influence implied volatility and market efficiency. Using a comprehensive dataset of option contracts across varying volatility levels, we analyze the effects of open interest, trading volume, moneyness, and time to expiration on implied volatility. Multiple regression models differentiate between call and put options, incorporating interaction terms to capture variations across moneyness and expiration horizons. Results indicate that liquidity significantly impacts implied volatility, with notable distinctions between calls and puts. The findings suggest that liquidity-adjusted measures enhance model accuracy, highlighting the options market’s role in underlying security pricing. Overall, this study contributes to the existing literature by reinforcing the role of the options market in explaining efficiency in the underlying security market. The results highlight the importance of liquidity in options pricing and suggest that implied volatility serves as a valuable metric for assessing market conditions. These insights have implications for investors, traders, and policymakers seeking to understand the interplay between derivative instruments and the broader financial markets
Analyzing a Pioneering Reef Community Following a Disconformity at the Silurian-Devonian Boundary of Central Ohio
No full textUnderstanding how reef communities may respond to dramatic environmental changes is paramount for current observation of modern-day reefs. This study aims to provide insights into regional ecological change, paleogeographic change, and sea level change following the disconformity at the Silurian-Devonian boundary of Ohio. Eastern and central Ohio underwent a series of slow and rapid transgressions from the late Silurian to the early Devonian due to global tectonic movement and lithospheric flexure related to the Acadian orogeny. At the Silurian-Devonian boundary, a disconformity separates the Bass Islands Dolomite from the Columbus Limestone. The Bass Islands Dolomite is an Upper Silurian dolostone while the Columbus Limestone is a Middle Devonian limestone made up of the Bellepoint, the Eversole, and the Delhi Members. The Bellepoint Member is a brown magnesian limestone divided into three zones: Zone A, Zone B, and Zone C (“the Coral Zone”). Nineteen lithologic hand samples and one hundred and fifteen fossil samples were collected from five localities in Delaware County, Ohio, west of the town of Bellepoint. At the scale of the exposure at Mill Creek, the sequence boundary was continuous and had a slightly irregular surface. Dominant phyla within the Coral Zone were solitary and fasciculate rugose corals and massive tabulate corals. Other phyla include echinoderms, stromatoporoids, mollusks, and brachiopods. The sequence boundary is likely the result of erosion following the transgression of Devonian epeiric seas onto land; this transgression was likely brought about by tectonism related to the Acadian orogeny and development of the western Appalachian Basin. The existence of a bioclastic wackestone and stromatoporoid-rich bindstone 50 centimeters below the Coral Zone suggests an attempt by pioneering organisms at reef development and may suggest repositioning the Coral Zone boundary. The Coral Zone likely represents a developing reef of pioneering, opportunistic species, potentially undergoing rapid autogenic succession
Positively Medieval: Constructing the Middle Ages in Literature and the Museum
No full textWhy do the Middle Ages occupy both a realm of magic and fantasy and a coarse, barbaric past in our imaginations? The Middle Ages are simultaneously virtuous and squalid, religious and vulgar, chivalrous and gruesome. These opposing perceptions create a dichotomy between a grotesque “medieval” characterized by vulgarity, suffering, and violence, and a romantic “medieval” characterized by piety, luxury, and passion. Such stereotypes are part of a broader, collective cultural memory, a realm in which communities make sense of their present by constructing narratives about the past. This independent study explores the various modes and tools by which art museums and literature construct and represent the Middle Ages as a cultural memory and how these constructions of the past reinforce narratives about modern cultural concepts and expectations. My textual analysis of two literary case studies reveals a shared use of the grotesque to criticize contemporary social and political issues by complicating temporal boundaries between the medieval and the modern. Using visual analysis and ethnographic interviews, I find that my museum case study constructs a monolithically European, Christian, patriarchal, and heteronormative Middle Ages, but also challenges this hegemonic depiction with a special exhibition that takes a more multicultural and holistic approach to representing the medieval
A Comparison of Belief Structures and Practices Found in Ancient Greek and Roman Society in the Works of Livy, Herodotus, and the Archaeological Record.
No full textIn the classical world, religion and belief played a major role in the lives of both the ancient Greeks and Romans. Often, ancient Greeks would go about their day, walking past and interacting with many temples and other formats of belief, like the Athenians seeing the Parthenon on top of the Acropolis every day. Similarly, the Romans would have interacted with temples and other parts of belief as well, seeing temples as they went to the forum, baths, or the theater. While temples were a great center of religion and belief in Rome and Greece, religion and belief were also seen through divination and curse tablets. These other examples of belief in the classical world highlight the extent of belief structures throughout civilizations in the classical period. Several ancient scholars discuss divination in their works, like Herodotus referencing prophecies given by the Oracle of Delphi and Livy highlighting examples of omens and sacrifices. Alongside this, examples of curse tablets allow a lens into the beliefs of people forgotten by historical scholars, such as the bakers and the blacksmiths of ancient Greece and Rome. This paper examines and compares ancient Greek and Roman belief structures, made up of divination and curse tablets, and investigates how they are similar and different by looking into the examples given by curse tablets found from the periods and passages from Herodotus and Livy
Rethinking Urban Sustainability: Integrating Ecology into City Ranking Systems
No full textIn an era of accelerating ecological collapse, cities are increasingly evaluated through sustainability rankings that claim to measure environmental resilience for the future. However, these rankings prioritize anthropocentric infrastructure metrics while failing to adequately assess ecological integrity. My Independent Study research critiques traditional sustainability ranking models and introduces the Viability Index for Ecologically Sustainable and Thriving Urban Areas (VISTA) model, an alternative framework that centers ecological integrity rather than economic privilege. Findings show that urban sustainability is not the achievement of a single indicator but a balance of interconnected ecological systems. This research ultimately argues that true sustainability cannot be measured by human convenience alone but must instead reflect a city’s ability to function as part of a larger ecosystem, ensuring the survival of both urban and nonhuman systems in an era of profound environmental disaster
We Didn’t Start the Fire: Natural Disaster Planning in Informal Settlements
No full textInformal Settlements are a growing reality in urban spaces. These marginalized areas are
often at the forefront of environmental hazards. Settlements can experience flooding,
earthquakes, and landslides among other disasters. In this paper, I will explore how the
composition of informal communities in the Chilean city of Valparaíso are affected by urban
wildfires. My analysis makes use of data from over 20,000 informal residents in the Valparaíso
Region, as well as spatial data on fire appearances from 2023 to 2024 to find a correlation
between settlement characteristics and their proximity to wildfires.
High fire risk areas were less educated, contained a high proportion of bought and rented
parcels, and that these parcels were further developed compared to low fire risk areas. I suggest
that, to promote effective disaster risk reduction within informal spaces, the state must fully
legalize these areas and encourage community action to improve settlement conditions
Self-Directed Sexual and Reproductive Health Education: A Demonstration of the Need for Intervention Based on Historical Precedent of Shame, Misinformation, and Concealment
No full textHow can the need for a self-directed sexual and reproductive educational tool be demonstrated in a historical context, and how should this tool be created? Books from Roman, medieval, and contemporary periods narrate a lengthy tradition of sexual and reproductive health education research. These sources all point to or give historical context for deficits in knowledge and negative perceptions of sexual and reproductive health experienced by women today, while supporting statements are also given for the need for self-directed education in these areas. The principles of design thinking and app design are then explored in order to develop a self-directed educational tool, culminating in the final product of the storyboard of an educational app targeted toward young women
Effects of Foreign Aid on Economic Growth
No full textThis paper examines the effects of foreign aid on economic growth in low-income nations. Though its effectiveness is still up for discussion, foreign aid is generally considered to be an essential instrument for fostering economic progress in low-income countries. This study uses a panel dataset of 16 aid-recipient nations from 1985 to 2023 to investigate the correlation between foreign aid and economic growth. The Keynesian Aggregate Expenditure Model, the Harrod-Domar Model, and the Solow Growth Model are among the theoretical frameworks used in the analysis to evaluate the effects of foreign aid on capital accumulation, investment, and consumption. Empirical evidence contradicts the models\u27 suggestion that foreign aid and economic growth are positively correlated. The results of this study, which used panel data regression models, show that foreign aid has a statistically insignificant impact on GDP growth. On the other hand, elements like gross domestic savings and foreign direct investment (FDI) have a more robust and steady positive influence on economic growth. These findings are consistent with earlier studies like Burnside and Dollar. That suggested foreign aid might not work in countries with weak institutions, bad governance, and inefficient aid use. The results have important policy implications, suggesting that rather than depending on foreign aid, governments in low-income nations should put more effort into boosting their own financial resources and draw in more foreign direct investment. Maximizing the potential advantages of foreign aid requires structural economic reforms, better governance, and openness in aid distribution. This study adds to the current discussion on the efficacy of aid and raises the possibility that internal investment and financial stability may be more important for sustainable economic growth than reliance on outside assistance
Cultural Exploration Through Animation: A 2D Narrative of Mexican Free-Tailed Bats in Austin
No full textThe Ann W. Richards Congress Avenue Bridge, located in the heart of downtown Austin, hosts the largest urban bat colony in the world, estimated at 1.5 million bats. It is a maternity colony and female Mexican free-tailed bats that raise an estimated 750,000 pups each year at the bridge. Every sunset during summer, the bats emerge from under the bridge toward the east to find daily food, creating a fascinating sight for the people of Austin.
Inspired by this popular Congress Avenue Bridge bat-watching activity, I produced a 2D animated short film to tell a whimsical and personified story of this mammal colony in the melting-pot Meso-American culture of Austin. In making this piece, I conducted research into the physical and habitual characteristics of Mexican free-tailed bats and Mexican folk art. Additionally, I learnt to use Procreate Dreams — an all-in-one 2D animation software for iPad based on the famous Procreate drawing software – to composite the final animation. Through blending together creative arts and digital technology, I hope Once Upon an ATX will be a delightful love letter to the unique qualities of urban bats that helps the audience see more of the hidden beauty within our urban ecology
