It is well known that the Black-Scholes model is used to establish the behavior of the option pricing in the financial market. In this paper, we propose the modified version of Black-Scholes model with two assets based on the Liouville-Caputo fractional derivative. The analytical solution of the proposed model is investigated by the Laplace transform homotopy perturbation method.

In the finance market, the Black–Scholes equation is used to model the price change of the underlying fractal transmission system. Moreover, the fractional differential equations recently are accepted by researchers that fractional differential equations are a powerful tool in studying fractal geometry and fractal dynamics. Fractional differential equations are used in modeling the various important situations or phenomena in the real world such as fluid flow, acoustics, electromagnetic, electrochemistry and material science. There is an important question in finance: “Can the fractional differential equation be applied in the financial market?”. The answer is “Yes”. Due to the self-similar property of the fractional derivative, it can reply to the long-range dependence better than the integer-order derivative. Thus, these advantages are beneficial to manage the fractal structure in the financial market. In this article, the classical Black–Scholes equation with two assets for the European call option is modified by replacing the order of ordinary derivative with the fractional derivative order in the Caputo type Katugampola fractional derivative sense. The analytic solution of time-fractional Black–Scholes European call option pricing equation with two assets is derived by using the generalized Laplace homotopy perturbation method. The used method is the combination of the homotopy perturbation method and generalized Laplace transform. The analytic solution of the time-fractional Black–Scholes equation is carried out in the form of a Mittag–Leffler function. Finally, the effects of the fractional-order in the Caputo type Katugampola fractional derivative to change of a European call option price are shown.

The Black Scholes model is a well-known and useful mathematical model in financial markets. In this paper, the two-dimensional Black Scholes equation with European call option is studied. The explicit solution of this problem is carried out in the form of a Mellin–Ross function by using Laplace transform homotopy perturbation method. The solution example demonstrates that the proposed scheme is effective.

The recent outbreak of mosquito-borne Zika virus (ZIKV) in Brazil, with estimated cases surpassing 1.5 million, has gained attention due to its rapid spread and neurological complications associated with the infection such as microcephaly and Guillain-Barré syndrome. Beside vector transmission, primarily via Aedes mosquitoes, sexual transmission also contributes to the virus outbreak. The epidemiological patterns of these viruses suggest that Zika virus could cause other outbreaks, particularly in tropical regions with high vector concentration. To plan and prepare for a counter-control measure, it is important to study the previous cases. Hence, the control model is proposed from the deterministic model of Zika virus infection. Regarding control measures, the control functions for these strategies; vector elimination, vector-to-human contact reduction, and human-to-human contact reduction are introduced into the system. The necessary conditions for the optimal controls are determined using Pontryagin’s maximum principle and the optimality system is solved using Rung-Kutta fourth order scheme. Consequently, numerical results of the system with control and the system without control are shown and discussed.

This study concerns the COVID-19 pandemic in Thailand related to social isolation and vaccination policies. The behavior of disease spread is described by an epidemic model via a system of ordinary differential equations. The invariant region and equilibrium point of the model, as well as the basic reproduction number, are also examined. Moreover, the model is fitted to real data for the second wave and the third wave of the pandemic in Thailand by a sum square error method in order to forecast the future spread of infectious diseases at each time. Furthermore, the model predictive control technique with quadratic programming is used to investigate the schedule of preventive measures over a time horizon. As a result, firstly, the plan results are proposed to solve the limitation of ICU capacity and increase the survival rate of patients. Secondly, the plan to control the outbreak without vaccination shows a strict policy that is difficult to do practically. Finally, the vaccination plan significantly prevents disease transmission, since the populations who get the vaccination have immunity against the virus. Moreover, the outbreak is controlled in 28 weeks. The results of a measurement strategy for preventing the disease are examined and compared with a control and without a control. Thus, the schedule over a time horizon can be suitably used for controlling.

A static mixer is a fidelity engineered device for the continuous mixing of fluid/solid materials. To meet the requirements for mixing purpose, a proper design of the static mixer is important. In this study, we proposed various designs of static mixer based on the blade geometry. Six blade patterns including four twisted blades, four elliptical blades and other four combined geometries of two twisted blades and two elliptical blades are chosen to investigate its mixing performance. Mathematical model of the two-phase flow with fluid/solid interaction in the static mixer is presented. Numerical solution of the flow patterns of particulate solids, and the velocity and the pressure fields of the fluid in the static mixer with different blade geometries are carried out. To evaluate the quality of the mixing performance, the results obtained from six blade designs are compared via the relative standard deviation and the amount of pressure drop along the mixing path.