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of infrastructure are aware that the government, owners and users become more and
more concerned about negative environmental impacts of tunnels, so environmental
assessment of tunnels are becoming an issue in the process of tunnel design. In
this study, to assess tunnels in construction and operation phases, the matrix method,
through which the “Impacting Factors” and “Environmental Components” are determined,
is also outlined. The affected environment was divided into thirteen components,
such as Ecology, Surface water, Air quality, etc. In this paper, matrix method was
applied to evaluate the impact of tunneling in three typical tunnels and compare
them with standard diagrams of Environmental Components that were derived and introduced.
These tunnels were: Urban Utility tunnel in Tehran, Eurasia tunnel in Istanbul and
Tsuen Wan drainage tunnel in Hong Kong. Based on the acquired results, the present
paper finally concluded that among three cases, Tsuen Wan drainage tunnel affects
the environment in construction phase more than others, while Eurasia tunnel effects
on air quality are more significant in operation phase.
This paper describes optimal investment strategies for kinked utility functions. One example is a CRRA utility function with a kink at a maximum wealth, which leads a covered call “like” strategy and the other is a CRRA utility function with a kink at a minimum wealth, which leads a protective put “like” strategy. This paper introduces analytic mathematical solutions providing a mathematical explanation of a dual utility where Black-Sholes assumption is utilized in the solutions. The intuitive solutions are clear for cases of those kinked utilities but minute mathematical explanation is described. Also a numerical simulation is performed for a covered call like strategy case.