The stochastic alpha beta rho model is a stochastic volatility model for forward prices commonly used in the modelling of interest rate derivatives. The alpha, beta and rho in the name are parameters to be calibrated. Alpha describes the magnitude of the volatility in the price of the underlying asset; beta describes the sensitivity of […]
Stochastic process is a process or system that is driven by random variables, or variables that can undergo random movements. For instance, stock prices are subject to chance movements and hence can be forecasted using a stochastic process. An example of a stochastic process is the random walk that is described by a path created […]
Stochastic volatility is volatility that varies over time at random. Stochastic volatility is used in the pricing of derivatives, mostly options. Such pricing models assume that the volatility of the underlying asset’s price fluctuates at random, with the random process driving the volatility sometimes correlated with the random process driving the asset price. Stochastic volatility […]
A certificate issued by an irrigation company representing ownerhsip in the assets of the company including water rights. An ASSESSMENT is required, based on shares owned, to pay the operating expenses of the company.
Impoundment, the principal purpose of which is to supply water to livestock.
A general term for the quantity of trees on an area, especially with reference to some management objective.
Stonewashing is a technique that creates a worn-look effect by washing garments with detergents and natural pumice or a synthetic stone. The process requires higher energy and water use than conventional textile laundering and it also decreases the lifespan of the washing machines used. A newer alternative, bio-stoning, uses enzymes (usually cellulase, a natural protein) […]
Beams placed on top of each other across a channel with their ends held in guides on each side of a channel or conduit to raise the upstream water level.
Water artificially impounded in surface or underground reservoirs for future use; water naturally detained in a drainage basin.
Volume of water that can be stored at the elevation of the primary spillway, including both active and dead storage.
