Dynamic optimisation of a recombinant BHK-21 culture based on elementary flux analysis and hybrid parametric/nonparametric modeling
Although MFA and MPA techniques have been mainly used for metabolic engineering [1], they may also be useful in other phases of the bioprocess development cycle, namely for advanced bioreactor monitoring and control [2,3]. A number of methods have been developed to study the structure of biochemical networks. From a process optimisation and control point of view, the elementary flux modes (EFMs) method is particularly attractive since it reduces network complexity to a minimal set of reactions. EFMs are unique for a given network and can be considered as nondecomposable steady state flux distributions using a minimal set of reactions.
The objective of this paper is to study the arbitrage free pricing of the covariance swap for Barndorff–Nielsen and Shephard (BN–S) type Levy process driven financial markets. One of the major challenges in arbitrage free pricing of swap is to obtain an accurate pricing expression which can be used with good computational accuracy. In this paper, we obtain analytic expressions for the pricing of the covariance swap. We show that with the analytic expressions obtained from the BN–S model, the error estimation in fitting the delivery price is much less than the existing models with comparable parameters. The models and pricing formulas proposed in this paper are computable in real time and hence can be efficiently used in practical applications.