Optimal risk management considering environmental and climatic changes

Climate change presents challenges to policy and economic stability, necessitating effective trading strategies to reduce environmental risks. This article addresses gaps in existing studies by using a Markov-switching model to consider climate risk. Backward stochastic differential equations are used to optimize utility with three hedging strategies based on the concept of risk aversion. Numerical scenarios confirm the model's superiority in incorporating exogenous events, with our risk-averse strategy outperforming classical approaches. Our strategy outperforms classical strategies by taking a flexible risk trading when investors face risk-averse behavior due to climate risk events. The findings presented in this article have important implications for the development of more resilient investment portfolios and can contribute to climate policy.

Epidemiology and Scenario Simulations of the Middle East Respiratory Syndrome Corona Virus (MERS-CoV) Disease Spread and Control for Dromedary Camels in United Arab Emirates (UAE)

Middle East Respiratory Syndrome (MERS-CoV) is a coronavirus-caused viral respiratory infection initially detected in Saudi Arabia in 2012. In UAE, high seroprevalence (97.1) of MERS-CoV in camels was reported in several Emirate of Abu Dhabi studies, including camels in zoos, public escorts, and slaughterhouses. The objectives of this research include simulation of MERS-CoV spread using a customized animal disease spread model (i.e., customized stochastic model for the UAE; analyzing the MERS-CoV spread and prevalence based on camels age groups and identifying the optimum control MERS-CoV strategy. This study found that controlling animal mobility is the best management technique for minimizing epidemic length and the number of affected farms. This study also found that disease dissemination differs amongst camels of three ages: camel kids under the age of one, young camels aged one to four, and adult camels aged four and up; because of their immunological state, kids, as well as adults, had greater infection rates. To save immunization costs, it is advised that certain age groups be targeted and that intense ad hoc unexpected vaccinations be avoided. According to the study, choosing the best technique must consider both efficacy and cost.

Correlated stochastic epidemic model for the dynamics of SARS-CoV-2 with vaccination

In this paper, we propose a mathematical model to describe the influence of the SARS-CoV-2 virus with correlated sources of randomness and with vaccination. The total human population is divided into three groups susceptible, infected, and recovered. Each population group of the model is assumed to be subject to various types of randomness. We develop the correlated stochastic model by considering correlated Brownian motions for the population groups. As the environmental reservoir plays a weighty role in the transmission of the SARS-CoV-2 virus, our model encompasses a fourth stochastic differential equation representing the reservoir. Moreover, the vaccination of susceptible is also considered. Once the correlated stochastic model, the existence and uniqueness of a positive solution are discussed to show the problem’s feasibility. The SARS-CoV-2 extinction, as well as persistency, are also examined, and sufficient conditions resulted from our investigation. The theoretical results are supported through numerical/graphical findings.

Stochastic covid-19 model with fractional global and classical piecewise derivative

Several methodologies have been advocated in the last decades with the aim to better understand behaviours displayed by some real-world problems. Among which, stochastics modelling and fractional modelling, fuzzy and others. These methodologies have been suggested to threat specific problems; however, It have been noticed that some problems exhibit different patterns as time passes by. Randomness and nonlocality can be combined to depict complex real-world behaviours. It has been observed that, covid-19 virus spread does not follow a single pattern; sometimes we obtained stochastic behaviours, another nonlocal behaviour and others. In this paper, we shall consider a covid-19 model with fractional stochastic behaviours. More precisely a covid-19 model, where the model considers nonlocalities and randomness is suggested. Then a comprehensive analysis of the model is conducted. Numerical simulations and illustrations are done to show the efficiency of the model.

Modeling the dynamics of novel coronavirus (COVID-19) via stochastic epidemic model

In this article we propose a stochastic model to discuss the dynamics of novel corona virus disease. We formulate the model to study the long run behavior in varying population environment. For this purposes we divided the total human population into three epidemiological compartments: the susceptible, covid-19 infected, recovered and recovered along with one class of reservoir. The existence and uniqueness of the newly formulated model will be studied to show the well-possedness of the model. Moreover, we investigate the extinction analysis as well as the persistence analysis to find the disease extinction and disease persistence conditions. At the end we perform simulation to justify the investigation of analytical work with the help of graphical representations.