On the basis of elemental composition, optical properties in the visible region, infrared spectra and thermal analysis (TG, DTG, DTA), humic acids of tundra soils in Spitsbergen are found to be more similar to fulvic acids than to humic acids of soils from other soil-climatic zones. The authors claim that it results from climatic conditions (low temperature, considerable humidity, alternation of freezing and thawing) and specific biochemical composition of tundra plants (predominance of plants devoid of lignin) which constitute substratum of the studied humic acids.
In this paper we show that in the lognormal discrete-time stochastic volatility model with predictable conditional expected returns, the conditional expected value of the discounted payoff of a European call option is infinite. Our empirical illustration shows that the characteristics of the predictive distributions of the discounted payoffs, obtained using Monte Carlo methods, do not indicate directly that the expected discounted payoffs are infinite.