The Kelvin–Helmholtz flow is a shearing instability that occurs at the interface between two fluids moving with different speeds. Here, the two fluids are each of finite depth, but are highly viscous. Consequently, their motion is caused by the horizontal speeds of the two walls above and below each fluid layer. The motion of the fluids is assumed to be governed by the Stokes approximation for slow viscous flow, and the fluid motion is thus responsible for movement of the interface between them. A linearized solution is presented, from which the decay rate and the group speed of the wave system may be obtained. The nonlinear equations are solved using a novel spectral representation for the streamfunctions in each of the two fluid layers, and the exact boundary conditions are applied at the unknown interface location. Results are presented for the wave profiles, and the behaviour of the curvature of the interface is discussed. These results are compared to the Boussinesq–Stokes approximation which is also solved by a novel spectral technique, and agreement between the results supports the numerical calculations.

Financial contracts with options that allow the holder to extend the contract maturity by paying an additional fixed amount have found many applications in finance. Closed-form solutions for the price of these options have appeared in the literature for the case when the contract for the underlying asset follows a geometric Brownian motion with constant interest rate, volatility and nonnegative dividend yield. In this paper, option price is derived for the case of the underlying asset that follows a geometric Brownian motion with time-dependent drift and volatility, which is more important for real life applications. The option price formulae are derived for the case of a drift that includes nonnegative or negative dividend. The latter yields a solution type that is new to the literature. A negative dividend corresponds to a negative foreign interest rate for foreign exchange options, or storage costs for commodity options. It may also appear in pricing options with transaction costs or real options, where the drift is larger than the interest rate.

Because of its central role in the global carbon cycle, quantifying the biomass of photosynthetic microalgae in the oceans is crucial to our ability to estimate the oceans’ carbon drawdown. Many traditional methods of primary production assessment have proven to be extremely time consuming and, consequently, have handled only very small sample sizes. The recent advent of in situ bio-optical sensors, such as the water quality monitor (WQM), is now providing lower cost and higher throughput data on these crucial biological communities. These WQMs, however, only quantify the total fluorescence of all individual cells within their optical sample windows, irrespective of size. In this paper, we further develop an established model, based on Pareto random variables, of the size structure of the microalgae community to understand the effect of the WQMs’ sampling and data pooling on their estimates of algal biomass. Unfortunately, evaluating sums of Pareto variables is a notoriously difficult problem. Here, we utilize an approximation for the right-tail of the resulting distribution to derive parameter estimates for the underlying size structure of the microalgae community.

The problem of reflection and refraction of elastic waves due to an incident quasi-primary $(qP)$ wave at a plane interface between two dissimilar nematic elastomer half-spaces has been investigated. The expressions for the phase velocities corresponding to primary and secondary waves are given. It is observed that these phase velocities depend on the angle of propagation of the elastic waves. The reflection and refraction coefficients corresponding to the reflected and refracted waves, respectively, are derived by using appropriate boundary conditions. The energy transmission of the reflected and refracted waves is obtained, and the energy ratios and the reflection and refraction coefficients are computed numerically.

This paper analyses the steady-state operation of a generalized bioreactor model that encompasses a continuous-flow bioreactor and an idealized continuous-flow membrane bioreactor as limiting cases. A biodegradation of organic materials is modelled using Contois growth kinetics. The bioreactor performance is analysed by finding the steady-state solutions of the model and determining their stability as a function of the dimensionless residence time. We show that an effective recycle parameter improves the performance of the bioreactor at moderate values of the dimensionless residence time. However, at sufficiently large values of the dimensionless residence time, the performance of the bioreactor is independent of the recycle ratio.