In this study, we consider option pricing under a Markov regime-switching GARCH-jump (RS-GARCH-jump) model. More specifically, we derive the risk neutral dynamics and propose a lattice algorithm to price European and American options in this framework. We also provide a method of parameter estimation in our RS-GARCH-jump setting using historical data on the underlying time series. To measure the pricing performance of the proposed algorithm, we investigate the convergence of the tree-based results to the true option values and show that this algorithm exhibits good convergence. By comparing the pricing results of RS-GARCH-jump model with regime-switching GARCH (RS-GARCH) model, GARCH-jump model, GARCH model, Black–Scholes (BS) model, and Regime-Switching (RS) model, we show that accommodating jump effect and regime switching substantially changes the option prices. The empirical results also show that the RS-GARCH-jump model performs well in explaining option prices and confirm the importance of allowing for both jump components and regime switching.

Oracle bone script developed into a sophisticated writing system in Shang Dynasty of China more than 3000 years ago. The systematic scientific dating of oracle bones had not been previously reported. Here we present radiocarbon (14C) dates measured from the sequential samples of oracle bones that pertain to the Shang kings. The results indicate that King Wu Ding (who is called Wu Ting in some literature) reigned during 1254 BC to 1197 BC, and the Shang Dynasty terminated around 1041 BC. It also points that the Li group in the sequence of oracle bones is most probably related to the time of King Wu Ding and Zu Geng.

Although the streaked optical pyrometer (SOP) system has been widely adopted in shock temperature measurements, its reliability has always been of concern. Here, two calibrated Planckian radiators with different color temperatures were used to calibrate and verify the SOP system by comparing the two calibration standards using both multi-channel and single-channel methods. A high-color-temperature standard lamp and a multi-channel filter were specifically designed for the measurement system. To verify the reliability of the SOP system, the relative deviation between the measured data and the standard value of less than 5% was calibrated out, which demonstrates the reliability of the SOP system. Furthermore, a method to analyze the uncertainty and sensitivity of the SOP system is proposed. A series of laser-induced shock experiments were conducted at the ‘Shenguang-II’ laser facility to verify the reliability of the SOP system for temperature measurements at tens of thousands of kelvin. The measured temperature of the quartz in our experiments agreed fairly well with previous works, which serves as evidence for the reliability of the SOP system.

Actin depolymerizing factors regulate actin dynamics involved in cellular processes such as morphogenesis, motility, development and infection. Here, a novel actin depolymerizing factor gene (CiADF2) was cloned from the cDNA library of Cryptocaryon irritans, a parasitic ciliate causing cryptocaryonosis. The full-length cDNA of CiADF2 was 531 bp. Its open reading frame (ORF) was 417 bp, encoding a polypeptide of 138 aa with typical features of the ADF/cofilin family. Reverse transcription-PCR suggested that CiADF2 is expressed in all stages of the life cycle. After site-directed mutagenesis of a non-universal genetic code, the ORF was subcloned in Escherichia coli. The bacteria were induced with the addition of isopropylthio-β-D-galactoside to express a fusion protein of recombinant CiADF2 (rCiADF2) with glutathione S transferase. Sodium dodecyl sulfate polyacrylamide gel electrophoresis and Western blot confirmed the predicted molecular mass of rCiADF2 of 16·2 kDa. A mouse antibody against rCiADF2 recognized native CiADF2, and rCiADF2 reacted with mouse antisera against C. irritans trophonts. CiADF2 was abundant in the plasma around cytostomes, suggesting that CiADF2 is involved in ciliate movement. Moreover, rCiADF2 showed F-actin binding and depolymerizing activity. This study will help to clarify the pathogenic biology of the parasite and develop effective control measures for cryptocaryonosis.

Animal bones and tortoise shells were used for divination by the Chinese royal family during the Shang Dynasty (∼16th–11th century BC), and the divination results were recorded as inscriptions on oracle bones and shells, which are very valuable cultural remains and record many important events in the Shang Dynasty period. Thus, radiocarbon dating of oracle bones was used to build a precise chronology of the late Shang Dynasty. Due to their original burial conditions and the fact that in subsequent decades the pieces were traded or archived in museums, oracle bones are expected to be contaminated with exogenous materials from the environment and the conservation process. During dating, we found that some samples were contaminated by conservation chemical reagents. The contaminated samples were purified by removing exogenous chemicals with a series of organic solvents, in a method modified from Bruhn et al. (2001). Both whole bone and gelatin samples were processed with this purification method, resulting in satisfactory improvements in dating results.

Xinzhai is an important archaeological site discovered 40 yr ago and recently re-excavated in the Henan Province, China. It is believed that the cultural characteristics of the Xinzhai site correspond to the Xia dynasty, the first ancient dynasty of China. Radiocarbon measurements on bone samples from this site were performed at the Peking University AMS facility (PKU-AMS) and the Vienna University AMS facility (VERA). Calibrated ages were obtained with the computer program OxCal. The results of these measurements are presented and the related chronology is discussed.

The Fengxi site is near the Feng River in Shaanxi Province, China. Feng City was the capital of the vassal state of Zhou, and the Zhou people lived in this area until the end of the Western Zhou. Serial samples of charcoal, bone, and charred millet were collected from the site and dated by accelerator mass spectrometry (AMS). A sequence model with 6 phases of the Western Zhou dynasty was constructed and the 14C ages were calibrated with OxCal v 3.9. The results showed that the site was used from 1170–1070 BC until 825–755 BC, and the Conquest of Shang by King Wu most probably occurred during 1060–1000 BC.

The chronology study of the cemetery of Marquises of Jin is valuable to improving the chronological table of Marquis of Jin family. It is also helpful for improving the chronological table of the Zhou Dynasty. The samples were measured at Peking University (PKUAMS). We also made an interlaboratory check with Isotrace to ensure the accuracy. By careful analysis of archaeological information, we built different models and calibrated by OxCal. The calibration results, both sampling contexts and estimations, are in very good agreement with the historical record. Because the dates of some events correspond to the special part of the curve, the calibration gets very high precision. The calibration result of tomb M93 suggests that its host is Marquis Shangshu instead of Marquis Wen.

Tianma-Qucun is the biggest site of Western Zhou Dynasty discovered in Shanxi Province, China. It has been recognized as the early capital of Jin, a vassal state of Western Zhou. The territories were granted to the first Marquis of Jin with the title in the early days of Western Zhou. Bone sample series from the site were radiocarbon-dated by accelerator mass spectrometry (AMS) and calibrated with the Oxford calibration program OxCal 3.5. Bayesian analysis of the calibrated ages shows that the earliest residents of the Western Zhou came to Tianma-Qucun area in 1020–940 BC and the lower boundary of the Western Zhou is 796–754 BC, which corresponds well to the historical record 770 BC.

AMS radiocarbon measurements were started at Peking University in 1992 with a modified HICONEX 834 ion source. Some archaeological samples were measured at a sensitivity of 10−14 with ca. 1.7% precision for modern samples. We have made many improvements in our first two years of operation: a high-intensity Cs sputtering ion source was installed; the graphite sample preparation technique was investigated; and the system stability has been improved. The blank sample background is currently ca. 0.006 MC and a precision within 1% can be reached for modern samples. Geological, archaeological, environmental and biomedical samples can be measured routinely. We present some typical applications.

To study the transition from the Paleolithic to the Neolithic period and its duration, samples of charcoal, bone, flowstone and shells excavated from Bailiandong and Miaoyan caves, Guangxi Zhuang autonomous region, South China were dated using the Peking University AMS facility and liquid scintillation counter. The remains excavated from these sites show typical characteristics of the transition from the Paleolithic to the Neolithic. Radiocarbon dating results show a rapid transition from ca. 20 to 10 ka bp.