OPUS Collection:

Indifference pricing of mortality-linked securities using backward stochastic differential equations

Title: Indifference pricing of mortality-linked securities using backward stochastic differential equations Authors: Garces, LPD; Gómez, F; Tang, Q Abstract: Abstract Consider a general mortality-linked security (MLS) with a bounded payoff contingent on the evolution of the underlying mortality rate and the performance of associated risky assets. The mortality rate and asset prices are assumed to jointly follow a multivariate Itô process, driven by both a multivariate Brownian motion and a Poisson point process. We follow the utility indifference approach to pricing this MLS under the physical measure. To this end, we employ backward stochastic differential equations (BSDEs) to characterize the optimal investment strategy and the value function for the involved optimization problems. We then solve the resulting nonlinear BSDEs with a non-Lipschitz generator. This methodology, which combines the utility indifference approach with BSDE techniques, provides numerical tractability through Monte Carlo simulations. Finally, we conduct comprehensive numerical studies on the valuation of several concrete MLSs, with a focus on the sensitivity analysis of the indifference prices against various key model parameters, including, in particular, the correlation between the underlying mortality rate and asset price.

On groups with EDT0L word problem

Title: On groups with EDT0L word problem Authors: Bishop, A; Elder, M; Evetts, A; Gallot, P; Levine, A Abstract: We prove that the word problem for the infinite cyclic group is not EDT0L, and obtain as a corollary that a finitely generated group with EDT0L word problem must be torsion. In addition, we show that the property of having an EDT0L word problem is invariant under change of generating set, and passing to finitely generated subgroups. This represents significant progress towards the conjecture that all groups with EDT0L word problem are finite (i.e. precisely the groups with regular word problem).

Adolescents’ educational aspirations and expectations: the interaction between school experiences, region, and financial disadvantage

2025-12-01T00:00:00Z

Title: Adolescents’ educational aspirations and expectations: the interaction between school experiences, region, and financial disadvantage Authors: O’Donnell, AW; Redmond, G; Zhou, H; Skattebol, J; Wang, JJJ; Reynolds, KJ; MacDougall, C Abstract: Adolescents residing in regional areas, and those from more financially disadvantaged families, traditionally have worse academic outcomes relative to their counterparts in metropolitan communities. A key mechanism that may account for these differences is how far individuals would like to progress in the educational system (aspirations) and how far they actually think they will progress (expectations). These plans are shaped by social background and schooling experiences, which can either reduce or amplify educational inequalities. Using two large Australian samples, we found that adolescents from metropolitan and financially advantaged families reported higher aspirations (Study 1, N = 3,896) and expectations (Study 2, N = 3,956) than their regional and more disadvantaged peers. In both studies, the school environment moderated the effects of family financial background on educational plans. School satisfaction (Study 1) and belonging (Study 2) amplified socioeconomic disparities, with gaps in educational future plans widening among students who felt more positive about school. These findings suggest that positive school environments may also inadvertently reinforce structural inequalities when broader barriers remain unaddressed.

Ketogenic Diet as an Epigenetic Therapy in SETD1B ‐Related Epilepsy

Title: Ketogenic Diet as an Epigenetic Therapy in SETD1B ‐Related Epilepsy Authors: Tsang, E; Gloss, BS; Hayes, JP; Holland, AJA; Menezes, MP; Branson, JA; Mohammad, SS; Yan, JJ; Patel, S; Han, VX; Dale, RC Abstract: ABSTRACT Histone lysine methyltransferases such as SETD1B regulate chromatin structure and gene transcription. Ketone bodies, including butyrate, act as histone deacetylase inhibitors. We report a 4‐year‐old boy with SETD1B ‐related absence epilepsy, refractory to conventional medications, who achieved sustained > 90% seizure reduction on the Modified Atkins ketogenic diet. Single‐cell RNA sequencing of 25,159 peripheral mononuclear cells across 3 samples: baseline, 3 months on‐diet and age‐matched control, revealed widespread dysregulation of the patient's chromatin, ribosomal, immune and mitochondrial pathways at baseline, which were reversed with ketogenic therapy. These findings suggest that the ketogenic diet can improve gene regulation in chromatin‐mediated brain disorders.