id	sid	tid	token	lemma	pos
dem-1052	1	1	dynamic	dynamic	ADJ
dem-1052	1	2	econometric	econometric	ADJ
dem-1052	1	3	models	model	NOUN
dem-1052	1	4	©	©	PROPN
dem-1052	1	5	2012	2012	NUM
dem-1052	1	6	nicolaus	nicolaus	PROPN
dem-1052	1	7	copernicus	copernicus	PROPN
dem-1052	1	8	university	university	PROPN
dem-1052	1	9	press	press	NOUN
dem-1052	1	10	.	.	PUNCT
dem-1052	2	1	all	all	DET
dem-1052	2	2	rights	right	NOUN
dem-1052	2	3	reserved	reserve	VERB
dem-1052	2	4	.	.	PUNCT
dem-1052	3	1	http://www.dem.umk.pl/dem	http://www.dem.umk.pl/dem	PROPN
dem-1052	3	2	dynamic	dynamic	ADJ
dem-1052	3	3	econometric	econometric	ADJ
dem-1052	3	4	models	model	NOUN
dem-1052	3	5	vol	vol	NOUN
dem-1052	3	6	.	.	PROPN
dem-1052	4	1	12	12	NUM
dem-1052	4	2	(	(	PUNCT
dem-1052	4	3	2012	2012	NUM
dem-1052	4	4	)	)	PUNCT
dem-1052	4	5	53−71	53−71	NUM
dem-1052	4	6	submitted	submit	VERB
dem-1052	4	7	october	october	PROPN
dem-1052	4	8	29	29	NUM
dem-1052	4	9	,	,	PUNCT
dem-1052	4	10	2011	2011	NUM
dem-1052	4	11	issn	issn	AUX
dem-1052	4	12	accepted	accept	VERB
dem-1052	4	13	july	july	PROPN
dem-1052	4	14	1	1	NUM
dem-1052	4	15	,	,	PUNCT
dem-1052	4	16	2012	2012	NUM
dem-1052	4	17	1234	1234	NUM
dem-1052	4	18	-	-	SYM
dem-1052	4	19	3862	3862	NUM
dem-1052	4	20	maciej	maciej	PROPN
dem-1052	4	21	kostrzewski	kostrzewski	PROPN
dem-1052	4	22	*	*	PUNCT
dem-1052	4	23	bayesian	bayesian	NOUN
dem-1052	4	24	pricing	pricing	NOUN
dem-1052	4	25	of	of	ADP
dem-1052	4	26	the	the	DET
dem-1052	4	27	optimal	optimal	ADJ
dem-1052	4	28	-	-	PUNCT
dem-1052	4	29	replication	replication	NOUN
dem-1052	4	30	strategy	strategy	NOUN
dem-1052	4	31	for	for	ADP
dem-1052	4	32	european	european	ADJ
dem-1052	4	33	option	option	NOUN
dem-1052	4	34	in	in	ADP
dem-1052	4	35	the	the	DET
dem-1052	4	36	jd(m)j	jd(m)j	PROPN
dem-1052	4	37	model†	model†	PROPN
dem-1052	4	38	a	a	DET
dem-1052	4	39	b	b	PROPN
dem-1052	4	40	s	s	ADP
dem-1052	4	41	t	t	PROPN
dem-1052	4	42	r	r	NOUN
dem-1052	4	43	a	a	DET
dem-1052	4	44	c	c	NOUN
dem-1052	4	45	t.	t.	NOUN
dem-1052	4	46	in	in	ADP
dem-1052	4	47	incomplete	incomplete	ADJ
dem-1052	4	48	markets	market	NOUN
dem-1052	4	49	replication	replication	NOUN
dem-1052	4	50	strategies	strategy	NOUN
dem-1052	4	51	may	may	AUX
dem-1052	4	52	not	not	PART
dem-1052	4	53	exist	exist	VERB
dem-1052	4	54	and	and	CCONJ
dem-1052	4	55	pricing	pricing	NOUN
dem-1052	4	56	of	of	ADP
dem-1052	4	57	derivatives	derivative	NOUN
dem-1052	4	58	is	be	AUX
dem-1052	4	59	not	not	PART
dem-1052	4	60	an	an	DET
dem-1052	4	61	easy	easy	ADJ
dem-1052	4	62	task	task	NOUN
dem-1052	4	63	.	.	PUNCT
dem-1052	5	1	this	this	DET
dem-1052	5	2	paper	paper	NOUN
dem-1052	5	3	presents	present	VERB
dem-1052	5	4	an	an	DET
dem-1052	5	5	application	application	NOUN
dem-1052	5	6	of	of	ADP
dem-1052	5	7	bertsimas	bertsima	NOUN
dem-1052	5	8	,	,	PUNCT
dem-1052	5	9	kogan	kogan	NOUN
dem-1052	5	10	and	and	CCONJ
dem-1052	5	11	lo	lo	PROPN
dem-1052	5	12	’s	’s	PART
dem-1052	5	13	algorithm	algorithm	NOUN
dem-1052	5	14	of	of	ADP
dem-1052	5	15	determining	determine	VERB
dem-1052	5	16	an	an	DET
dem-1052	5	17	optimal	optimal	ADJ
dem-1052	5	18	-	-	PUNCT
dem-1052	5	19	replication	replication	NOUN
dem-1052	5	20	strategy	strategy	NOUN
dem-1052	5	21	.	.	PUNCT
dem-1052	6	1	in	in	ADP
dem-1052	6	2	the	the	DET
dem-1052	6	3	merton	merton	ADJ
dem-1052	6	4	model	model	NOUN
dem-1052	6	5	the	the	DET
dem-1052	6	6	likelihood	likelihood	NOUN
dem-1052	6	7	function	function	NOUN
dem-1052	6	8	is	be	AUX
dem-1052	6	9	a	a	DET
dem-1052	6	10	product	product	NOUN
dem-1052	6	11	of	of	ADP
dem-1052	6	12	a	a	DET
dem-1052	6	13	mixture	mixture	NOUN
dem-1052	6	14	of	of	ADP
dem-1052	6	15	infinite	infinite	ADJ
dem-1052	6	16	number	number	NOUN
dem-1052	6	17	of	of	ADP
dem-1052	6	18	components	component	NOUN
dem-1052	6	19	.	.	PUNCT
dem-1052	7	1	in	in	ADP
dem-1052	7	2	the	the	DET
dem-1052	7	3	paper	paper	NOUN
dem-1052	7	4	this	this	DET
dem-1052	7	5	number	number	NOUN
dem-1052	7	6	is	be	AUX
dem-1052	7	7	assumed	assume	VERB
dem-1052	7	8	to	to	PART
dem-1052	7	9	be	be	AUX
dem-1052	7	10	equal	equal	ADJ
dem-1052	7	11	to	to	ADP
dem-1052	7	12	a	a	DET
dem-1052	7	13	fixed	fix	VERB
dem-1052	7	14	value	value	NOUN
dem-1052	7	15	m+1	m+1	NUM
dem-1052	7	16	.	.	PUNCT
dem-1052	8	1	to	to	PART
dem-1052	8	2	determine	determine	VERB
dem-1052	8	3	the	the	DET
dem-1052	8	4	optimal	optimal	ADJ
dem-1052	8	5	strategy	strategy	NOUN
dem-1052	8	6	,	,	PUNCT
dem-1052	8	7	we	we	PRON
dem-1052	8	8	should	should	AUX
dem-1052	8	9	estimate	estimate	VERB
dem-1052	8	10	unknown	unknown	ADJ
dem-1052	8	11	parameters	parameter	NOUN
dem-1052	8	12	.	.	PUNCT
dem-1052	9	1	to	to	ADP
dem-1052	9	2	this	this	DET
dem-1052	9	3	end	end	NOUN
dem-1052	9	4	we	we	PRON
dem-1052	9	5	resort	resort	VERB
dem-1052	9	6	to	to	ADP
dem-1052	9	7	bayesian	bayesian	NOUN
dem-1052	9	8	estimation	estimation	NOUN
dem-1052	9	9	techniques	technique	NOUN
dem-1052	9	10	.	.	PUNCT
dem-1052	10	1	the	the	DET
dem-1052	10	2	presented	present	VERB
dem-1052	10	3	methodology	methodology	NOUN
dem-1052	10	4	is	be	AUX
dem-1052	10	5	exemplified	exemplify	VERB
dem-1052	10	6	by	by	ADP
dem-1052	10	7	an	an	DET
dem-1052	10	8	empirical	empirical	ADJ
dem-1052	10	9	research	research	NOUN
dem-1052	10	10	.	.	PUNCT
dem-1052	11	1	k	k	PROPN
dem-1052	11	2	e	e	PROPN
dem-1052	11	3	y	y	PROPN
dem-1052	11	4	w	w	NOUN
dem-1052	11	5	o	o	NOUN
dem-1052	11	6	r	r	NOUN
dem-1052	11	7	d	d	PROPN
dem-1052	11	8	s	s	NOUN
dem-1052	11	9	:	:	PUNCT
dem-1052	11	10	incomplete	incomplete	ADJ
dem-1052	11	11	markets	market	NOUN
dem-1052	11	12	,	,	PUNCT
dem-1052	11	13	bayesian	bayesian	NOUN
dem-1052	11	14	inference	inference	NOUN
dem-1052	11	15	,	,	PUNCT
dem-1052	11	16	jump	jump	NOUN
dem-1052	11	17	-	-	PUNCT
dem-1052	11	18	diffusion	diffusion	NOUN
dem-1052	11	19	process	process	NOUN
dem-1052	11	20	,	,	PUNCT
dem-1052	11	21	pricing	pricing	NOUN
dem-1052	11	22	of	of	ADP
dem-1052	11	23	derivatives	derivative	NOUN
dem-1052	11	24	.	.	PUNCT
dem-1052	12	1	j	j	PROPN
dem-1052	12	2	e	e	NOUN
dem-1052	12	3	l	l	NOUN
dem-1052	12	4	classification	classification	NOUN
dem-1052	12	5	:	:	PUNCT
dem-1052	12	6	c11	c11	NOUN
dem-1052	12	7	,	,	PUNCT
dem-1052	12	8	c15	c15	PROPN
dem-1052	12	9	,	,	PUNCT
dem-1052	12	10	c58	c58	PROPN
dem-1052	12	11	,	,	PUNCT
dem-1052	12	12	c61	c61	PROPN
dem-1052	12	13	,	,	PUNCT
dem-1052	12	14	c63	c63	PROPN
dem-1052	12	15	,	,	PUNCT
dem-1052	12	16	g17	g17	NOUN
dem-1052	12	17	introduction	introduction	NOUN
dem-1052	12	18	the	the	DET
dem-1052	12	19	black	black	ADJ
dem-1052	12	20	-	-	PUNCT
dem-1052	12	21	scholes	schole	NOUN
dem-1052	12	22	model	model	NOUN
dem-1052	12	23	assumes	assume	VERB
dem-1052	12	24	a	a	DET
dem-1052	12	25	continuous	continuous	ADJ
dem-1052	12	26	path	path	NOUN
dem-1052	12	27	of	of	ADP
dem-1052	12	28	underlying	underlie	VERB
dem-1052	12	29	instrument	instrument	NOUN
dem-1052	12	30	values	value	NOUN
dem-1052	12	31	.	.	PUNCT
dem-1052	13	1	pricing	price	VERB
dem-1052	13	2	european	european	ADJ
dem-1052	13	3	options	option	NOUN
dem-1052	13	4	under	under	ADP
dem-1052	13	5	the	the	DET
dem-1052	13	6	black	black	ADJ
dem-1052	13	7	-	-	PUNCT
dem-1052	13	8	scholes	schole	NOUN
dem-1052	13	9	model	model	NOUN
dem-1052	13	10	is	be	AUX
dem-1052	13	11	an	an	DET
dem-1052	13	12	easy	easy	ADJ
dem-1052	13	13	task	task	NOUN
dem-1052	13	14	(	(	PUNCT
dem-1052	13	15	black	black	ADJ
dem-1052	13	16	,	,	PUNCT
dem-1052	13	17	scholes	schole	NOUN
dem-1052	13	18	,	,	PUNCT
dem-1052	13	19	1973	1973	NUM
dem-1052	13	20	)	)	PUNCT
dem-1052	13	21	.	.	PUNCT
dem-1052	14	1	unfortunately	unfortunately	ADV
dem-1052	14	2	,	,	PUNCT
dem-1052	14	3	if	if	SCONJ
dem-1052	14	4	we	we	PRON
dem-1052	14	5	additionally	additionally	ADV
dem-1052	14	6	include	include	VERB
dem-1052	14	7	a	a	DET
dem-1052	14	8	component	component	NOUN
dem-1052	14	9	responsible	responsible	ADJ
dem-1052	14	10	for	for	ADP
dem-1052	14	11	jumps	jump	NOUN
dem-1052	14	12	,	,	PUNCT
dem-1052	14	13	we	we	PRON
dem-1052	14	14	obtain	obtain	VERB
dem-1052	14	15	a	a	DET
dem-1052	14	16	model	model	NOUN
dem-1052	14	17	of	of	ADP
dem-1052	14	18	a	a	DET
dem-1052	14	19	risky	risky	ADJ
dem-1052	14	20	instrument	instrument	NOUN
dem-1052	14	21	in	in	ADP
dem-1052	14	22	an	an	DET
dem-1052	14	23	incomplete	incomplete	ADJ
dem-1052	14	24	market	market	NOUN
dem-1052	14	25	.	.	PUNCT
dem-1052	15	1	then	then	ADV
dem-1052	15	2	,	,	PUNCT
dem-1052	15	3	the	the	DET
dem-1052	15	4	pricing	pricing	NOUN
dem-1052	15	5	of	of	ADP
dem-1052	15	6	options	option	NOUN
dem-1052	15	7	is	be	AUX
dem-1052	15	8	more	more	ADJ
dem-1052	15	9	of	of	ADP
dem-1052	15	10	a	a	DET
dem-1052	15	11	challenge	challenge	NOUN
dem-1052	15	12	.	.	PUNCT
dem-1052	16	1	in	in	ADP
dem-1052	16	2	general	general	ADJ
dem-1052	16	3	,	,	PUNCT
dem-1052	16	4	replication	replication	NOUN
dem-1052	16	5	strategies	strategy	NOUN
dem-1052	16	6	do	do	AUX
dem-1052	16	7	not	not	PART
dem-1052	16	8	exist	exist	VERB
dem-1052	16	9	(	(	PUNCT
dem-1052	16	10	lamberton	lamberton	NOUN
dem-1052	16	11	,	,	PUNCT
dem-1052	16	12	lapeyre	lapeyre	NOUN
dem-1052	16	13	,	,	PUNCT
dem-1052	16	14	2000	2000	NUM
dem-1052	16	15	;	;	PUNCT
dem-1052	16	16	shreve	shreve	PROPN
dem-1052	16	17	,	,	PUNCT
dem-1052	16	18	2004	2004	NUM
dem-1052	16	19	)	)	PUNCT
dem-1052	16	20	.	.	PUNCT
dem-1052	17	1	bertsimas	bertsimas	PROPN
dem-1052	17	2	,	,	PUNCT
dem-1052	17	3	kogan	kogan	NOUN
dem-1052	17	4	and	and	CCONJ
dem-1052	17	5	lo	lo	PROPN
dem-1052	17	6	(	(	PUNCT
dem-1052	17	7	2001	2001	NUM
dem-1052	17	8	)	)	PUNCT
dem-1052	17	9	propose	propose	VERB
dem-1052	17	10	an	an	DET
dem-1052	17	11	algorithm	algorithm	NOUN
dem-1052	17	12	of	of	ADP
dem-1052	17	13	determining	determine	VERB
dem-1052	17	14	an	an	DET
dem-1052	17	15	optimal	optimal	ADJ
dem-1052	17	16	-	-	PUNCT
dem-1052	17	17	replication	replication	NOUN
dem-1052	17	18	strategy	strategy	NOUN
dem-1052	17	19	.	.	PUNCT
dem-1052	18	1	the	the	DET
dem-1052	18	2	optimality	optimality	NOUN
dem-1052	18	3	is	be	AUX
dem-1052	18	4	understood	understand	VERB
dem-1052	18	5	in	in	ADP
dem-1052	18	6	a	a	DET
dem-1052	18	7	meansquared	meansquare	VERB
dem-1052	18	8	sense	sense	NOUN
dem-1052	18	9	.	.	PUNCT
dem-1052	19	1	apart	apart	ADV
dem-1052	19	2	from	from	ADP
dem-1052	19	3	the	the	DET
dem-1052	19	4	major	major	ADJ
dem-1052	19	5	drawbacks	drawback	NOUN
dem-1052	19	6	of	of	ADP
dem-1052	19	7	the	the	DET
dem-1052	19	8	strategy	strategy	NOUN
dem-1052	19	9	–	–	PUNCT
dem-1052	19	10	it	it	PRON
dem-1052	19	11	is	be	AUX
dem-1052	19	12	self	self	NOUN
dem-1052	19	13	*	*	PUNCT
dem-1052	19	14	correspondence	correspondence	NOUN
dem-1052	19	15	to	to	ADP
dem-1052	19	16	:	:	PUNCT
dem-1052	19	17	1	1	X
dem-1052	19	18	.	.	X
dem-1052	19	19	maciej	maciej	PROPN
dem-1052	19	20	kostrzewski	kostrzewski	PROPN
dem-1052	19	21	,	,	PUNCT
dem-1052	19	22	department	department	NOUN
dem-1052	19	23	of	of	ADP
dem-1052	19	24	econometrics	econometric	NOUN
dem-1052	19	25	and	and	CCONJ
dem-1052	19	26	operational	operational	ADJ
dem-1052	19	27	research	research	NOUN
dem-1052	19	28	,	,	PUNCT
dem-1052	19	29	cracow	cracow	PROPN
dem-1052	19	30	university	university	PROPN
dem-1052	19	31	of	of	ADP
dem-1052	19	32	economics	economic	NOUN
dem-1052	19	33	,	,	PUNCT
dem-1052	19	34	ul	ul	INTJ
dem-1052	19	35	.	.	PUNCT
dem-1052	20	1	rakowicka	rakowicka	PROPN
dem-1052	20	2	27	27	NUM
dem-1052	20	3	,	,	PUNCT
dem-1052	20	4	31	31	NUM
dem-1052	20	5	-	-	SYM
dem-1052	20	6	510	510	NUM
dem-1052	20	7	krakow	krakow	PROPN
dem-1052	20	8	,	,	PUNCT
dem-1052	20	9	poland	poland	PROPN
dem-1052	20	10	or	or	CCONJ
dem-1052	20	11	1	1	NUM
dem-1052	20	12	.	.	PUNCT
dem-1052	21	1	maciej	maciej	PROPN
dem-1052	21	2	kostrzewski	kostrzewski	PROPN
dem-1052	21	3	,	,	PUNCT
dem-1052	21	4	faculty	faculty	NOUN
dem-1052	21	5	of	of	ADP
dem-1052	21	6	applied	apply	VERB
dem-1052	21	7	mathematics	mathematic	NOUN
dem-1052	21	8	,	,	PUNCT
dem-1052	21	9	agh	agh	PROPN
dem-1052	21	10	university	university	PROPN
dem-1052	21	11	of	of	ADP
dem-1052	21	12	science	science	NOUN
dem-1052	21	13	and	and	CCONJ
dem-1052	21	14	technology	technology	NOUN
dem-1052	21	15	,	,	PUNCT
dem-1052	21	16	al	al	PROPN
dem-1052	21	17	.	.	PUNCT
dem-1052	21	18	mickiewicza	mickiewicza	PROPN
dem-1052	21	19	30	30	NUM
dem-1052	21	20	,	,	PUNCT
dem-1052	21	21	30	30	NUM
dem-1052	21	22	-	-	SYM
dem-1052	21	23	059	059	NUM
dem-1052	21	24	krakow	krakow	PROPN
dem-1052	21	25	,	,	PUNCT
dem-1052	21	26	poland	poland	PROPN
dem-1052	21	27	,	,	PUNCT
dem-1052	21	28	e	e	NOUN
dem-1052	21	29	-	-	NOUN
dem-1052	21	30	mail	mail	NOUN
dem-1052	21	31	:	:	PUNCT
dem-1052	21	32	maciej.kostrzewski@uek.krakow.pl	maciej.kostrzewski@uek.krakow.pl	PROPN
dem-1052	21	33	†	†	PROPN
dem-1052	22	1	the	the	DET
dem-1052	22	2	research	research	NOUN
dem-1052	22	3	was	be	AUX
dem-1052	22	4	supported	support	VERB
dem-1052	22	5	by	by	ADP
dem-1052	22	6	the	the	DET
dem-1052	22	7	polish	polish	PROPN
dem-1052	22	8	ministry	ministry	PROPN
dem-1052	22	9	of	of	ADP
dem-1052	22	10	science	science	PROPN
dem-1052	22	11	and	and	CCONJ
dem-1052	22	12	higher	high	ADJ
dem-1052	22	13	education	education	NOUN
dem-1052	22	14	.	.	PUNCT
dem-1052	23	1	research	research	NOUN
dem-1052	23	2	project	project	NOUN
dem-1052	23	3	2010	2010	NUM
dem-1052	23	4	-	-	SYM
dem-1052	23	5	2012	2012	NUM
dem-1052	23	6	;	;	PUNCT
dem-1052	23	7	no	no	INTJ
dem-1052	23	8	.	.	PUNCT
dem-1052	24	1	n	n	CCONJ
dem-1052	24	2	n111	n111	PROPN
dem-1052	24	3	429139	429139	NUM
dem-1052	24	4	.	.	PUNCT
dem-1052	25	1	maciej	maciej	PROPN
dem-1052	25	2	kostrzewski	kostrzewski	PROPN
dem-1052	25	3	dynamic	dynamic	ADJ
dem-1052	25	4	econometric	econometric	ADJ
dem-1052	25	5	models	model	NOUN
dem-1052	25	6	12	12	NUM
dem-1052	25	7	(	(	PUNCT
dem-1052	25	8	2012	2012	NUM
dem-1052	25	9	)	)	PUNCT
dem-1052	25	10	53–71	53–71	NOUN
dem-1052	25	11	54	54	NUM
dem-1052	25	12	financing	financing	NOUN
dem-1052	26	1	but	but	CCONJ
dem-1052	26	2	it	it	PRON
dem-1052	26	3	is	be	AUX
dem-1052	26	4	not	not	PART
dem-1052	26	5	an	an	DET
dem-1052	26	6	admissible	admissible	ADJ
dem-1052	26	7	strategy	strategy	NOUN
dem-1052	26	8	,	,	PUNCT
dem-1052	26	9	and	and	CCONJ
dem-1052	26	10	its	its	PRON
dem-1052	26	11	calculation	calculation	NOUN
dem-1052	26	12	may	may	AUX
dem-1052	26	13	be	be	AUX
dem-1052	26	14	timeconsuming	timeconsuming	ADJ
dem-1052	26	15	–	–	PUNCT
dem-1052	26	16	it	it	PRON
dem-1052	26	17	plays	play	VERB
dem-1052	26	18	a	a	DET
dem-1052	26	19	significant	significant	ADJ
dem-1052	26	20	role	role	NOUN
dem-1052	26	21	in	in	ADP
dem-1052	26	22	hedging	hedging	NOUN
dem-1052	26	23	and	and	CCONJ
dem-1052	26	24	pricing	pricing	NOUN
dem-1052	26	25	derivatives	derivative	NOUN
dem-1052	26	26	.	.	PUNCT
dem-1052	27	1	to	to	PART
dem-1052	27	2	determine	determine	VERB
dem-1052	27	3	the	the	DET
dem-1052	27	4	optimal	optimal	ADJ
dem-1052	27	5	-	-	PUNCT
dem-1052	27	6	replication	replication	NOUN
dem-1052	27	7	strategy	strategy	NOUN
dem-1052	27	8	,	,	PUNCT
dem-1052	27	9	the	the	DET
dem-1052	27	10	unknown	unknown	ADJ
dem-1052	27	11	parameters	parameter	NOUN
dem-1052	27	12	of	of	ADP
dem-1052	27	13	the	the	DET
dem-1052	27	14	model	model	NOUN
dem-1052	27	15	need	need	VERB
dem-1052	27	16	to	to	PART
dem-1052	27	17	be	be	AUX
dem-1052	27	18	estimated	estimate	VERB
dem-1052	27	19	.	.	PUNCT
dem-1052	28	1	in	in	ADP
dem-1052	28	2	this	this	DET
dem-1052	28	3	paper	paper	NOUN
dem-1052	28	4	we	we	PRON
dem-1052	28	5	resort	resort	VERB
dem-1052	28	6	to	to	ADP
dem-1052	28	7	the	the	DET
dem-1052	28	8	bayesian	bayesian	NOUN
dem-1052	28	9	estimation	estimation	NOUN
dem-1052	28	10	techniques	technique	NOUN
dem-1052	28	11	.	.	PUNCT
dem-1052	29	1	accounting	account	VERB
dem-1052	29	2	for	for	ADP
dem-1052	29	3	the	the	DET
dem-1052	29	4	parameter	parameter	NOUN
dem-1052	29	5	uncertainty	uncertainty	NOUN
dem-1052	29	6	inherent	inherent	ADJ
dem-1052	29	7	to	to	ADP
dem-1052	29	8	the	the	DET
dem-1052	29	9	estimated	estimate	VERB
dem-1052	29	10	parameters	parameter	NOUN
dem-1052	29	11	,	,	PUNCT
dem-1052	29	12	for	for	ADP
dem-1052	29	13	which	which	PRON
dem-1052	29	14	the	the	DET
dem-1052	29	15	bayesian	bayesian	NOUN
dem-1052	29	16	methodology	methodology	NOUN
dem-1052	29	17	is	be	AUX
dem-1052	29	18	widely	widely	ADV
dem-1052	29	19	appreciated	appreciated	ADJ
dem-1052	29	20	,	,	PUNCT
dem-1052	29	21	is	be	AUX
dem-1052	29	22	relevant	relevant	ADJ
dem-1052	29	23	not	not	PART
dem-1052	29	24	only	only	ADV
dem-1052	29	25	to	to	ADP
dem-1052	29	26	the	the	DET
dem-1052	29	27	estimation	estimation	NOUN
dem-1052	29	28	itself	itself	PRON
dem-1052	29	29	,	,	PUNCT
dem-1052	29	30	but	but	CCONJ
dem-1052	29	31	extends	extend	VERB
dem-1052	29	32	also	also	ADV
dem-1052	29	33	to	to	ADP
dem-1052	29	34	the	the	DET
dem-1052	29	35	pricing	pricing	NOUN
dem-1052	29	36	of	of	ADP
dem-1052	29	37	optimal	optimal	ADJ
dem-1052	29	38	strategy	strategy	NOUN
dem-1052	29	39	,	,	PUNCT
dem-1052	29	40	providing	provide	VERB
dem-1052	29	41	the	the	DET
dem-1052	29	42	researcher	researcher	NOUN
dem-1052	29	43	with	with	ADP
dem-1052	29	44	a	a	DET
dem-1052	29	45	full	full	ADJ
dem-1052	29	46	(	(	PUNCT
dem-1052	29	47	posterior	posterior	ADJ
dem-1052	29	48	)	)	PUNCT
dem-1052	29	49	distribution	distribution	NOUN
dem-1052	29	50	of	of	ADP
dem-1052	29	51	the	the	DET
dem-1052	29	52	strategy	strategy	NOUN
dem-1052	29	53	cost	cost	NOUN
dem-1052	29	54	(	(	PUNCT
dem-1052	29	55	instead	instead	ADV
dem-1052	29	56	of	of	ADP
dem-1052	29	57	a	a	DET
dem-1052	29	58	single	single	ADJ
dem-1052	29	59	value	value	NOUN
dem-1052	29	60	)	)	PUNCT
dem-1052	29	61	.	.	PUNCT
dem-1052	30	1	1	1	X
dem-1052	30	2	.	.	X
dem-1052	30	3	the	the	DET
dem-1052	30	4	jump	jump	NOUN
dem-1052	30	5	-	-	PUNCT
dem-1052	30	6	diffusion	diffusion	NOUN
dem-1052	30	7	model	model	NOUN
dem-1052	30	8	with	with	ADP
dem-1052	30	9	m	m	NOUN
dem-1052	30	10	-	-	PUNCT
dem-1052	30	11	jumps	jump	NOUN
dem-1052	30	12	let	let	VERB
dem-1052	30	13	(	(	PUNCT
dem-1052	30	14	)	)	PUNCT
dem-1052	30	15	p,,ℑω	p,,ℑω	NOUN
dem-1052	30	16	denote	denote	VERB
dem-1052	30	17	a	a	DET
dem-1052	30	18	probability	probability	NOUN
dem-1052	30	19	space	space	NOUN
dem-1052	30	20	.	.	PUNCT
dem-1052	31	1	we	we	PRON
dem-1052	31	2	consider	consider	VERB
dem-1052	31	3	a	a	DET
dem-1052	31	4	standard	standard	ADJ
dem-1052	31	5	wiener	wiener	NOUN
dem-1052	31	6	process	process	NOUN
dem-1052	31	7	(	(	PUNCT
dem-1052	31	8	)	)	PUNCT
dem-1052	31	9	0≥=	0≥=	PROPN
dem-1052	31	10	ttww	ttww	NOUN
dem-1052	31	11	,	,	PUNCT
dem-1052	31	12	a	a	DET
dem-1052	31	13	poisson	poisson	NOUN
dem-1052	31	14	process	process	NOUN
dem-1052	31	15	(	(	PUNCT
dem-1052	31	16	)	)	PUNCT
dem-1052	31	17	0≥=	0≥=	PROPN
dem-1052	31	18	ttnn	ttnn	NOUN
dem-1052	31	19	with	with	ADP
dem-1052	31	20	intensity	intensity	NOUN
dem-1052	31	21	0	0	NUM
dem-1052	31	22	>	>	X
dem-1052	31	23	λ	λ	X
dem-1052	31	24	,	,	PUNCT
dem-1052	31	25	and	and	CCONJ
dem-1052	31	26	a	a	DET
dem-1052	31	27	family	family	NOUN
dem-1052	31	28	of	of	ADP
dem-1052	31	29	independent	independent	ADJ
dem-1052	31	30	random	random	ADJ
dem-1052	31	31	variables	variable	NOUN
dem-1052	31	32	{	{	PUNCT
dem-1052	31	33	}	}	PUNCT
dem-1052	31	34	,	,	PUNCT
dem-1052	31	35	...	...	PUNCT
dem-1052	31	36	2,1	2,1	NUM
dem-1052	31	37	:	:	PUNCT
dem-1052	32	1	=	=	X
dem-1052	32	2	=	=	SYM
dem-1052	32	3	jqq	jqq	NOUN
dem-1052	32	4	j	j	PROPN
dem-1052	32	5	.	.	PUNCT
dem-1052	33	1	the	the	DET
dem-1052	33	2	variables	variables	PROPN
dem-1052	33	3	jq	jq	PROPN
dem-1052	33	4	’s	’	VERB
dem-1052	33	5	have	have	VERB
dem-1052	33	6	gaussian	gaussian	ADJ
dem-1052	33	7	distributions	distribution	NOUN
dem-1052	33	8	:	:	PUNCT
dem-1052	33	9	(	(	PUNCT
dem-1052	33	10	)	)	PUNCT
dem-1052	33	11	2,~	2,~	NUM
dem-1052	33	12	qqj	qqj	VERB
dem-1052	33	13	nq	nq	NOUN
dem-1052	33	14	σµ	σµ	NOUN
dem-1052	33	15	.	.	PUNCT
dem-1052	34	1	it	it	PRON
dem-1052	34	2	is	be	AUX
dem-1052	34	3	also	also	ADV
dem-1052	34	4	assumed	assume	VERB
dem-1052	34	5	that	that	SCONJ
dem-1052	34	6	σ	σ	PROPN
dem-1052	34	7	–	–	PUNCT
dem-1052	34	8	algebras	algebras	PROPN
dem-1052	34	9	generated	generate	VERB
dem-1052	34	10	by	by	ADP
dem-1052	34	11	w	w	PROPN
dem-1052	34	12	,	,	PUNCT
dem-1052	34	13	n	n	PROPN
dem-1052	34	14	and	and	CCONJ
dem-1052	34	15	q	q	PROPN
dem-1052	34	16	are	be	AUX
dem-1052	34	17	independent	independent	ADJ
dem-1052	34	18	.	.	PUNCT
dem-1052	35	1	in	in	ADP
dem-1052	35	2	the	the	DET
dem-1052	35	3	merton	merton	ADJ
dem-1052	35	4	model	model	NOUN
dem-1052	35	5	(	(	PUNCT
dem-1052	35	6	merton	merton	PROPN
dem-1052	35	7	,	,	PUNCT
dem-1052	35	8	1976	1976	NUM
dem-1052	35	9	)	)	PUNCT
dem-1052	35	10	the	the	DET
dem-1052	35	11	price	price	NOUN
dem-1052	35	12	of	of	ADP
dem-1052	35	13	a	a	DET
dem-1052	35	14	risky	risky	ADJ
dem-1052	35	15	instrument	instrument	NOUN
dem-1052	35	16	is	be	AUX
dem-1052	35	17	governed	govern	VERB
dem-1052	35	18	by	by	ADP
dem-1052	35	19	a	a	DET
dem-1052	35	20	jump	jump	NOUN
dem-1052	35	21	-	-	PUNCT
dem-1052	35	22	diffusion	diffusion	NOUN
dem-1052	35	23	process	process	NOUN
dem-1052	35	24	(	(	PUNCT
dem-1052	35	25	)	)	PUNCT
dem-1052	35	26	0≥=	0≥=	PROPN
dem-1052	35	27	ttpp	ttpp	NOUN
dem-1052	35	28	which	which	PRON
dem-1052	35	29	is	be	AUX
dem-1052	35	30	the	the	DET
dem-1052	35	31	solution	solution	NOUN
dem-1052	35	32	of	of	ADP
dem-1052	35	33	the	the	DET
dem-1052	35	34	equation	equation	NOUN
dem-1052	35	35	:	:	PUNCT
dem-1052	35	36	(	(	PUNCT
dem-1052	35	37	)	)	PUNCT
dem-1052	35	38	.1	.1	NUM
dem-1052	36	1	tt	tt	PROPN
dem-1052	36	2	q	q	PROPN
dem-1052	36	3	tttt	tttt	PROPN
dem-1052	36	4	dnpedwpdtpdp	dnpedwpdtpdp	ADV
dem-1052	36	5	−++=	−++=	PUNCT
dem-1052	36	6	σµ	σµ	ADV
dem-1052	36	7	the	the	DET
dem-1052	36	8	first	first	ADJ
dem-1052	36	9	two	two	NUM
dem-1052	36	10	elements	element	NOUN
dem-1052	36	11	on	on	ADP
dem-1052	36	12	the	the	DET
dem-1052	36	13	right	right	ADJ
dem-1052	36	14	-	-	PUNCT
dem-1052	36	15	hand	hand	NOUN
dem-1052	36	16	side	side	NOUN
dem-1052	36	17	define	define	VERB
dem-1052	36	18	a	a	DET
dem-1052	36	19	pure	pure	ADJ
dem-1052	36	20	diffusion	diffusion	NOUN
dem-1052	36	21	process	process	NOUN
dem-1052	36	22	.	.	PUNCT
dem-1052	37	1	the	the	DET
dem-1052	37	2	last	last	ADJ
dem-1052	37	3	element	element	NOUN
dem-1052	37	4	corresponds	correspond	VERB
dem-1052	37	5	to	to	PART
dem-1052	37	6	jumps	jump	VERB
dem-1052	37	7	.	.	PUNCT
dem-1052	38	1	(	(	PUNCT
dem-1052	38	2	)	)	PUNCT
dem-1052	38	3	0≥ttp	0≥ttp	NUM
dem-1052	38	4	is	be	AUX
dem-1052	38	5	an	an	DET
dem-1052	38	6	adapted	adapted	ADJ
dem-1052	38	7	and	and	CCONJ
dem-1052	38	8	rightcontinuous	rightcontinuous	ADJ
dem-1052	38	9	process	process	NOUN
dem-1052	38	10	.	.	PUNCT
dem-1052	39	1	it	it	PRON
dem-1052	39	2	can	can	AUX
dem-1052	39	3	be	be	AUX
dem-1052	39	4	shown	show	VERB
dem-1052	39	5	that	that	SCONJ
dem-1052	39	6	:	:	PUNCT
dem-1052	39	7	.	.	PUNCT
dem-1052	40	1	2	2	NUM
dem-1052	40	2	1exp	1exp	NUM
dem-1052	40	3	1	1	NUM
dem-1052	40	4	2	2	NUM
dem-1052	40	5	0	0	NUM
dem-1052	40	6			NOUN
dem-1052	40	7			PROPN
dem-1052	40	8			PROPN
dem-1052	40	9			PROPN
dem-1052	40	10			PROPN
dem-1052	40	11			VERB
dem-1052	40	12			X
dem-1052	40	13			PROPN
dem-1052	40	14	+	+	NOUN
dem-1052	40	15	+	+	NOUN
dem-1052	40	16			NOUN
dem-1052	40	17			PUNCT
dem-1052	41	1			PROPN
dem-1052	41	2			NOUN
dem-1052	41	3			NOUN
dem-1052	41	4			VERB
dem-1052	41	5	−=	−=	VERB
dem-1052	41	6	∑	∑	PROPN
dem-1052	41	7	=	=	SYM
dem-1052	41	8	j	j	PROPN
dem-1052	41	9	n	n	NUM
dem-1052	41	10	j	j	PROPN
dem-1052	41	11	tt	tt	PROPN
dem-1052	41	12	qwtpp	qwtpp	PROPN
dem-1052	41	13	t	t	PROPN
dem-1052	41	14	σσµ	σσµ	PROPN
dem-1052	41	15	the	the	DET
dem-1052	41	16	price	price	NOUN
dem-1052	41	17	between	between	ADP
dem-1052	41	18	consecutive	consecutive	ADJ
dem-1052	41	19	jumps	jump	NOUN
dem-1052	41	20	is	be	AUX
dem-1052	41	21	governed	govern	VERB
dem-1052	41	22	by	by	ADP
dem-1052	41	23	a	a	DET
dem-1052	41	24	geometric	geometric	ADJ
dem-1052	41	25	brownian	brownian	ADJ
dem-1052	41	26	motion	motion	NOUN
dem-1052	41	27	.	.	PUNCT
dem-1052	42	1	the	the	DET
dem-1052	42	2	process	process	NOUN
dem-1052	42	3	p	p	NOUN
dem-1052	42	4	has	have	VERB
dem-1052	42	5	a	a	DET
dem-1052	42	6	finite	finite	ADJ
dem-1052	42	7	number	number	NOUN
dem-1052	42	8	of	of	ADP
dem-1052	42	9	jumps	jump	NOUN
dem-1052	42	10	on	on	ADP
dem-1052	42	11	each	each	DET
dem-1052	42	12	interval	interval	NOUN
dem-1052	42	13	[	[	PUNCT
dem-1052	42	14	]	]	X
dem-1052	42	15	t,0	t,0	NUM
dem-1052	42	16	.	.	PUNCT
dem-1052	43	1	the	the	DET
dem-1052	43	2	logarithm	logarithm	NOUN
dem-1052	43	3	of	of	ADP
dem-1052	43	4	the	the	DET
dem-1052	43	5	price	price	NOUN
dem-1052	43	6	is	be	AUX
dem-1052	43	7	the	the	DET
dem-1052	43	8	solution	solution	NOUN
dem-1052	43	9	of	of	ADP
dem-1052	43	10	the	the	DET
dem-1052	43	11	equation	equation	NOUN
dem-1052	43	12	:	:	PUNCT
dem-1052	43	13	.	.	PUNCT
dem-1052	44	1	2	2	NUM
dem-1052	44	2	1ln	1ln	NOUN
dem-1052	44	3	2	2	NUM
dem-1052	44	4	ttt	ttt	NOUN
dem-1052	44	5	qdndwdtpd	qdndwdtpd	VERB
dem-1052	44	6	+	+	NOUN
dem-1052	44	7	+	+	NOUN
dem-1052	44	8			NOUN
dem-1052	44	9			PUNCT
dem-1052	45	1			PROPN
dem-1052	45	2			NOUN
dem-1052	45	3			PROPN
dem-1052	45	4			PROPN
dem-1052	45	5	−=	−=	NOUN
dem-1052	45	6	σσµ	σσµ	PROPN
dem-1052	45	7	hence	hence	ADV
dem-1052	45	8	,	,	PUNCT
dem-1052	45	9	for	for	ADP
dem-1052	45	10	a	a	DET
dem-1052	45	11	given	give	VERB
dem-1052	45	12	time	time	NOUN
dem-1052	45	13	step	step	NOUN
dem-1052	45	14	0>∆	0>∆	NOUN
dem-1052	45	15	we	we	PRON
dem-1052	45	16	obtain	obtain	VERB
dem-1052	45	17	:	:	PUNCT
dem-1052	45	18	(	(	PUNCT
dem-1052	45	19	)	)	PUNCT
dem-1052	45	20	(	(	PUNCT
dem-1052	45	21	)	)	PUNCT
dem-1052	45	22	(	(	PUNCT
dem-1052	45	23	)	)	PUNCT
dem-1052	45	24	.	.	PUNCT
dem-1052	46	1	2	2	NUM
dem-1052	46	2	1lnln	1lnln	NUM
dem-1052	46	3	1	1	NUM
dem-1052	46	4	2	2	NUM
dem-1052	46	5	j	j	PROPN
dem-1052	46	6	n	n	CCONJ
dem-1052	46	7	nj	nj	PROPN
dem-1052	46	8	tttt	tttt	PROPN
dem-1052	46	9	qwwpp	qwwpp	PROPN
dem-1052	46	10	t	t	PROPN
dem-1052	46	11	t	t	PROPN
dem-1052	46	12	∑	∑	PUNCT
dem-1052	46	13	∆+	∆+	PUNCT
dem-1052	46	14	+	+	PROPN
dem-1052	46	15	=	=	X
dem-1052	46	16	∆+∆+	∆+∆+	X
dem-1052	46	17	+	+	NOUN
dem-1052	46	18	−+∆	−+∆	PROPN
dem-1052	46	19			PROPN
dem-1052	46	20			PROPN
dem-1052	46	21			NOUN
dem-1052	47	1			PROPN
dem-1052	47	2			X
dem-1052	47	3	−+=	−+=	ADJ
dem-1052	47	4	σσµ	σσµ	NOUN
dem-1052	47	5	it	it	PRON
dem-1052	47	6	follows	follow	VERB
dem-1052	47	7	that	that	SCONJ
dem-1052	47	8	the	the	DET
dem-1052	47	9	probability	probability	NOUN
dem-1052	47	10	density	density	NOUN
dem-1052	47	11	function	function	NOUN
dem-1052	47	12	of	of	ADP
dem-1052	47	13	logarithmic	logarithmic	ADJ
dem-1052	47	14	rates	rate	NOUN
dem-1052	47	15	of	of	ADP
dem-1052	47	16	return	return	NOUN
dem-1052	47	17	is	be	AUX
dem-1052	47	18	given	give	VERB
dem-1052	47	19	by	by	ADP
dem-1052	47	20	(	(	PUNCT
dem-1052	47	21	hanson	hanson	PROPN
dem-1052	47	22	,	,	PUNCT
dem-1052	47	23	westman	westman	NOUN
dem-1052	47	24	,	,	PUNCT
dem-1052	47	25	2002	2002	NUM
dem-1052	47	26	):	):	PUNCT
dem-1052	47	27	bayesian	bayesian	NOUN
dem-1052	47	28	pricing	pricing	NOUN
dem-1052	47	29	of	of	ADP
dem-1052	47	30	the	the	DET
dem-1052	47	31	optimal	optimal	ADJ
dem-1052	47	32	-	-	PUNCT
dem-1052	47	33	replication	replication	NOUN
dem-1052	47	34	strategy	strategy	NOUN
dem-1052	47	35	for	for	ADP
dem-1052	47	36	the	the	DET
dem-1052	47	37	european	european	ADJ
dem-1052	47	38	option	option	NOUN
dem-1052	47	39	…	…	PUNCT
dem-1052	47	40	dynamic	dynamic	ADJ
dem-1052	47	41	econometric	econometric	ADJ
dem-1052	47	42	models	model	NOUN
dem-1052	47	43	12	12	NUM
dem-1052	47	44	(	(	PUNCT
dem-1052	47	45	2012	2012	NUM
dem-1052	47	46	)	)	PUNCT
dem-1052	47	47	53–71	53–71	NOUN
dem-1052	47	48	55	55	NUM
dem-1052	47	49	(	(	PUNCT
dem-1052	47	50	)	)	PUNCT
dem-1052	47	51	(	(	PUNCT
dem-1052	47	52	)	)	PUNCT
dem-1052	47	53	(	(	PUNCT
dem-1052	47	54	)	)	PUNCT
dem-1052	47	55	(	(	PUNCT
dem-1052	47	56	)	)	PUNCT
dem-1052	47	57	(	(	PUNCT
dem-1052	47	58	)	)	PUNCT
dem-1052	47	59	(	(	PUNCT
dem-1052	47	60	)	)	PUNCT
dem-1052	47	61	kkxxp	kkxxp	PROPN
dem-1052	47	62	qqkk	qqkk	PROPN
dem-1052	47	63	k	k	PROPN
dem-1052	47	64	tp	tp	PROPN
dem-1052	47	65	tp	tp	ADP
dem-1052	47	66	222	222	NUM
dem-1052	47	67	2	2	NUM
dem-1052	47	68	1	1	NUM
dem-1052	47	69	!	!	PUNCT
dem-1052	48	1	0ln	0ln	NOUN
dem-1052	48	2	,	,	PUNCT
dem-1052	48	3	;	;	PUNCT
dem-1052	48	4	exp	exp	NOUN
dem-1052	48	5	σσµσµφλ	σσµσµφλ	PROPN
dem-1052	48	6	λ	λ	PROPN
dem-1052	48	7	+	+	PROPN
dem-1052	48	8	∆+∆−∆−∑=	∆+∆−∆−∑=	NOUN
dem-1052	48	9	∆	∆	PROPN
dem-1052	48	10	∞	∞	PROPN
dem-1052	48	11	=	=	SYM
dem-1052	48	12	∆+	∆+	NUM
dem-1052	48	13	,	,	PUNCT
dem-1052	48	14	(	(	PUNCT
dem-1052	48	15	1	1	X
dem-1052	48	16	)	)	PUNCT
dem-1052	48	17	where	where	SCONJ
dem-1052	48	18	(	(	PUNCT
dem-1052	48	19	)	)	PUNCT
dem-1052	48	20	2	2	NUM
dem-1052	48	21	,	,	PUNCT
dem-1052	48	22	;	;	PUNCT
dem-1052	48	23	sm⋅φ	sm⋅φ	NOUN
dem-1052	48	24	denotes	denote	VERB
dem-1052	48	25	the	the	DET
dem-1052	48	26	density	density	NOUN
dem-1052	48	27	of	of	ADP
dem-1052	48	28	a	a	DET
dem-1052	48	29	normal	normal	ADJ
dem-1052	48	30	distribution	distribution	NOUN
dem-1052	48	31	with	with	ADP
dem-1052	48	32	mean	mean	NOUN
dem-1052	48	33	m	m	NOUN
dem-1052	48	34	and	and	CCONJ
dem-1052	48	35	variance	variance	VERB
dem-1052	48	36	2s	2s	X
dem-1052	48	37	.	.	PUNCT
dem-1052	49	1	therefore	therefore	ADV
dem-1052	49	2	,	,	PUNCT
dem-1052	49	3	the	the	DET
dem-1052	49	4	likelihood	likelihood	NOUN
dem-1052	49	5	function	function	NOUN
dem-1052	49	6	is	be	AUX
dem-1052	49	7	given	give	VERB
dem-1052	49	8	by	by	ADP
dem-1052	49	9	the	the	DET
dem-1052	49	10	product	product	NOUN
dem-1052	49	11	of	of	ADP
dem-1052	49	12	an	an	DET
dem-1052	49	13	infinite	infinite	ADJ
dem-1052	49	14	mixture	mixture	NOUN
dem-1052	49	15	of	of	ADP
dem-1052	49	16	normal	normal	ADJ
dem-1052	49	17	densities	density	NOUN
dem-1052	49	18	,	,	PUNCT
dem-1052	49	19	which	which	PRON
dem-1052	49	20	highly	highly	ADV
dem-1052	49	21	complicates	complicate	VERB
dem-1052	49	22	the	the	DET
dem-1052	49	23	statistical	statistical	ADJ
dem-1052	49	24	inference	inference	NOUN
dem-1052	49	25	for	for	ADP
dem-1052	49	26	the	the	DET
dem-1052	49	27	model	model	NOUN
dem-1052	49	28	.	.	PUNCT
dem-1052	50	1	in	in	ADP
dem-1052	50	2	order	order	NOUN
dem-1052	50	3	to	to	PART
dem-1052	50	4	define	define	VERB
dem-1052	50	5	a	a	DET
dem-1052	50	6	jump	jump	NOUN
dem-1052	50	7	-	-	PUNCT
dem-1052	50	8	diffusion	diffusion	NOUN
dem-1052	50	9	model	model	NOUN
dem-1052	50	10	with	with	ADP
dem-1052	50	11	m	m	PROPN
dem-1052	50	12	jumps	jump	NOUN
dem-1052	50	13	,	,	PUNCT
dem-1052	50	14	let	let	VERB
dem-1052	50	15	us	we	PRON
dem-1052	50	16	consider	consider	VERB
dem-1052	50	17	a	a	DET
dem-1052	50	18	finite	finite	ADJ
dem-1052	50	19	approximation	approximation	NOUN
dem-1052	50	20	of	of	ADP
dem-1052	50	21	series	series	NOUN
dem-1052	50	22	(	(	PUNCT
dem-1052	50	23	1	1	NUM
dem-1052	50	24	)	)	PUNCT
dem-1052	50	25	:	:	PUNCT
dem-1052	50	26	(	(	PUNCT
dem-1052	50	27	)	)	PUNCT
dem-1052	50	28	(	(	PUNCT
dem-1052	50	29	)	)	PUNCT
dem-1052	50	30			PROPN
dem-1052	50	31			PUNCT
dem-1052	51	1			PROPN
dem-1052	52	1			INTJ
dem-1052	52	2			NOUN
dem-1052	52	3			VERB
dem-1052	52	4	+	+	SYM
dem-1052	52	5	∆+∆	∆+∆	X
dem-1052	52	6			PUNCT
dem-1052	53	1			PROPN
dem-1052	53	2			NOUN
dem-1052	53	3			NOUN
dem-1052	53	4			NOUN
dem-1052	53	5	−	−	ADP
dem-1052	53	6	∆	∆	PROPN
dem-1052	53	7	∆−∑	∆−∑	NOUN
dem-1052	54	1	∞	∞	PROPN
dem-1052	54	2	=	=	SYM
dem-1052	54	3	kkx	kkx	PROPN
dem-1052	55	1	k	k	PROPN
dem-1052	55	2	qq	qq	PROPN
dem-1052	55	3	k	k	PROPN
dem-1052	56	1	k	k	PROPN
dem-1052	56	2	222	222	NUM
dem-1052	56	3	0	0	NUM
dem-1052	56	4	,	,	PUNCT
dem-1052	56	5	2	2	NUM
dem-1052	56	6	1	1	NUM
dem-1052	56	7	;	;	PUNCT
dem-1052	56	8	!	!	PUNCT
dem-1052	57	1	exp	exp	NOUN
dem-1052	57	2	σσµσµφλλ	σσµσµφλλ	NOUN
dem-1052	57	3	,	,	PUNCT
dem-1052	57	4	(	(	PUNCT
dem-1052	57	5	)	)	PUNCT
dem-1052	57	6	(	(	PUNCT
dem-1052	57	7	)	)	PUNCT
dem-1052	57	8	,	,	PUNCT
dem-1052	57	9	,	,	PUNCT
dem-1052	57	10	2	2	NUM
dem-1052	57	11	1	1	NUM
dem-1052	57	12	;	;	PUNCT
dem-1052	57	13	!	!	PUNCT
dem-1052	58	1	exp	exp	NOUN
dem-1052	58	2	222	222	NUM
dem-1052	58	3	0	0	NUM
dem-1052	58	4			NOUN
dem-1052	58	5			PUNCT
dem-1052	59	1			PROPN
dem-1052	60	1			INTJ
dem-1052	60	2			NOUN
dem-1052	60	3			VERB
dem-1052	60	4	+	+	SYM
dem-1052	60	5	∆+∆	∆+∆	X
dem-1052	60	6			PUNCT
dem-1052	61	1			PROPN
dem-1052	61	2			NOUN
dem-1052	61	3			NOUN
dem-1052	61	4			NOUN
dem-1052	61	5	−	−	NOUN
dem-1052	61	6	∆	∆	PROPN
dem-1052	62	1	∆−≈	∆−≈	PROPN
dem-1052	62	2	∑	∑	PROPN
dem-1052	62	3	=	=	SYM
dem-1052	62	4	kkx	kkx	PROPN
dem-1052	62	5	k	k	PROPN
dem-1052	62	6	qq	qq	PROPN
dem-1052	62	7	km	km	PROPN
dem-1052	62	8	k	k	PROPN
dem-1052	62	9	σσµσµφλλ	σσµσµφλλ	PROPN
dem-1052	62	10	(	(	PUNCT
dem-1052	62	11	2	2	NUM
dem-1052	62	12	)	)	PUNCT
dem-1052	62	13	where	where	SCONJ
dem-1052	62	14	{	{	PUNCT
dem-1052	62	15	}	}	PUNCT
dem-1052	62	16	...	...	PUNCT
dem-1052	62	17	,	,	PUNCT
dem-1052	62	18	2,1,0∈m	2,1,0∈m	NUM
dem-1052	62	19	is	be	AUX
dem-1052	62	20	a	a	DET
dem-1052	62	21	fixed	fix	VERB
dem-1052	62	22	constant	constant	ADJ
dem-1052	62	23	.	.	PUNCT
dem-1052	63	1	in	in	ADP
dem-1052	63	2	the	the	DET
dem-1052	63	3	black	black	ADJ
dem-1052	63	4	-	-	PUNCT
dem-1052	63	5	scholes	schole	NOUN
dem-1052	63	6	framework	framework	NOUN
dem-1052	63	7	,	,	PUNCT
dem-1052	63	8	the	the	DET
dem-1052	63	9	process	process	NOUN
dem-1052	63	10	of	of	ADP
dem-1052	63	11	logarithmic	logarithmic	ADJ
dem-1052	63	12	returns	return	NOUN
dem-1052	63	13	of	of	ADP
dem-1052	63	14	risky	risky	ADJ
dem-1052	63	15	instrument	instrument	NOUN
dem-1052	63	16	is	be	AUX
dem-1052	63	17	governed	govern	VERB
dem-1052	63	18	by	by	ADP
dem-1052	63	19	an	an	DET
dem-1052	63	20	arithmetic	arithmetic	ADJ
dem-1052	63	21	brownian	brownian	ADJ
dem-1052	63	22	motion	motion	NOUN
dem-1052	63	23	which	which	PRON
dem-1052	63	24	is	be	AUX
dem-1052	63	25	a	a	DET
dem-1052	63	26	pure	pure	ADJ
dem-1052	63	27	diffusion	diffusion	NOUN
dem-1052	63	28	process	process	NOUN
dem-1052	63	29	.	.	PUNCT
dem-1052	64	1	under	under	ADP
dem-1052	64	2	0	0	NUM
dem-1052	64	3	=	=	NOUN
dem-1052	64	4	m	m	NUM
dem-1052	64	5	the	the	DET
dem-1052	64	6	above	above	ADJ
dem-1052	64	7	approximation	approximation	NOUN
dem-1052	64	8	collapses	collapse	VERB
dem-1052	64	9	to	to	ADP
dem-1052	64	10	the	the	DET
dem-1052	64	11	density	density	NOUN
dem-1052	64	12	of	of	ADP
dem-1052	64	13	this	this	DET
dem-1052	64	14	arithmetic	arithmetic	ADJ
dem-1052	64	15	brownian	brownian	ADJ
dem-1052	64	16	motion	motion	NOUN
dem-1052	64	17	with	with	ADP
dem-1052	64	18	time	time	NOUN
dem-1052	64	19	step	step	NOUN
dem-1052	64	20	∆	∆	PROPN
dem-1052	64	21	(	(	PUNCT
dem-1052	64	22	kloeden	kloeden	PROPN
dem-1052	64	23	,	,	PUNCT
dem-1052	64	24	platen	platen	NOUN
dem-1052	64	25	,	,	PUNCT
dem-1052	64	26	1992	1992	NUM
dem-1052	64	27	)	)	PUNCT
dem-1052	64	28	.	.	PUNCT
dem-1052	65	1	in	in	ADP
dem-1052	65	2	the	the	DET
dem-1052	65	3	general	general	ADJ
dem-1052	65	4	case	case	NOUN
dem-1052	65	5	the	the	DET
dem-1052	65	6	integral	integral	NOUN
dem-1052	65	7	of	of	ADP
dem-1052	65	8	sum	sum	NOUN
dem-1052	65	9	(	(	PUNCT
dem-1052	65	10	2	2	NUM
dem-1052	65	11	)	)	PUNCT
dem-1052	65	12	may	may	AUX
dem-1052	65	13	not	not	PART
dem-1052	65	14	equal	equal	VERB
dem-1052	65	15	one	one	NUM
dem-1052	65	16	.	.	PUNCT
dem-1052	66	1	therefore	therefore	ADV
dem-1052	66	2	,	,	PUNCT
dem-1052	66	3	to	to	PART
dem-1052	66	4	obtain	obtain	VERB
dem-1052	66	5	a	a	DET
dem-1052	66	6	probability	probability	NOUN
dem-1052	66	7	density	density	NOUN
dem-1052	66	8	function	function	NOUN
dem-1052	66	9	,	,	PUNCT
dem-1052	66	10	let	let	VERB
dem-1052	66	11	us	we	PRON
dem-1052	66	12	normalize	normalize	VERB
dem-1052	66	13	the	the	DET
dem-1052	66	14	approximation	approximation	NOUN
dem-1052	66	15	given	give	VERB
dem-1052	66	16	by	by	ADP
dem-1052	66	17	(	(	PUNCT
dem-1052	66	18	2	2	NUM
dem-1052	66	19	)	)	PUNCT
dem-1052	66	20	:	:	PUNCT
dem-1052	66	21	(	(	PUNCT
dem-1052	66	22	)	)	PUNCT
dem-1052	66	23			PROPN
dem-1052	66	24			PUNCT
dem-1052	67	1			PROPN
dem-1052	68	1			INTJ
dem-1052	68	2			NOUN
dem-1052	68	3			VERB
dem-1052	68	4	+	+	SYM
dem-1052	68	5	∆+∆	∆+∆	X
dem-1052	68	6			PUNCT
dem-1052	69	1			PROPN
dem-1052	69	2			NOUN
dem-1052	69	3			NOUN
dem-1052	69	4			VERB
dem-1052	69	5	−=	−=	NUM
dem-1052	69	6	∑	∑	PUNCT
dem-1052	69	7	=	=	PUNCT
dem-1052	69	8	kkxwxp	kkxwxp	ADJ
dem-1052	69	9	qqik	qqik	NOUN
dem-1052	69	10	m	m	VERB
dem-1052	69	11	k	k	NOUN
dem-1052	69	12	i	i	PRON
dem-1052	69	13	222	222	NUM
dem-1052	69	14	0	0	NUM
dem-1052	69	15	,	,	PUNCT
dem-1052	69	16	2	2	NUM
dem-1052	69	17	1	1	NUM
dem-1052	69	18	;	;	PUNCT
dem-1052	69	19	σσµσµφθ	σσµσµφθ	VERB
dem-1052	69	20	,	,	PUNCT
dem-1052	69	21	(	(	PUNCT
dem-1052	69	22	3	3	X
dem-1052	69	23	)	)	PUNCT
dem-1052	69	24	with	with	ADP
dem-1052	69	25	,	,	PUNCT
dem-1052	69	26	!	!	PUNCT
dem-1052	69	27	)	)	PUNCT
dem-1052	69	28	(	(	PUNCT
dem-1052	69	29	!	!	PUNCT
dem-1052	69	30	)	)	PUNCT
dem-1052	70	1	(	(	PUNCT
dem-1052	70	2	1	1	NUM
dem-1052	70	3	0	0	NUM
dem-1052	70	4	−	−	NOUN
dem-1052	70	5	=	=	PUNCT
dem-1052	71	1			PROPN
dem-1052	71	2			PROPN
dem-1052	71	3			PROPN
dem-1052	71	4			ADJ
dem-1052	71	5			NUM
dem-1052	71	6			NOUN
dem-1052	71	7	∆∆	∆∆	NOUN
dem-1052	71	8	=	=	PUNCT
dem-1052	71	9	∑m	∑m	PROPN
dem-1052	71	10	j	j	PROPN
dem-1052	71	11	jk	jk	PROPN
dem-1052	71	12	k	k	PROPN
dem-1052	71	13	jk	jk	PROPN
dem-1052	71	14	w	w	PROPN
dem-1052	71	15	λλ	λλ	PROPN
dem-1052	71	16	mk	mk	PROPN
dem-1052	71	17	...	...	PUNCT
dem-1052	71	18	,	,	PUNCT
dem-1052	71	19	,	,	PUNCT
dem-1052	71	20	0=	0=	NOUN
dem-1052	71	21	,	,	PUNCT
dem-1052	71	22	being	be	AUX
dem-1052	71	23	the	the	DET
dem-1052	71	24	normalizing	normalizing	ADJ
dem-1052	71	25	weights1	weights1	NOUN
dem-1052	71	26	.	.	PUNCT
dem-1052	72	1	in	in	ADP
dem-1052	72	2	the	the	DET
dem-1052	72	3	paper	paper	NOUN
dem-1052	72	4	the	the	DET
dem-1052	72	5	logarithmic	logarithmic	ADJ
dem-1052	72	6	rates	rate	NOUN
dem-1052	72	7	of	of	ADP
dem-1052	72	8	return	return	NOUN
dem-1052	72	9	(	(	PUNCT
dem-1052	72	10	)	)	PUNCT
dem-1052	72	11			NUM
dem-1052	72	12	,	,	PUNCT
dem-1052	72	13	,	,	PUNCT
dem-1052	72	14	21	21	NUM
dem-1052	72	15	xxx	xxx	NOUN
dem-1052	72	16	=	=	PRON
dem-1052	72	17	are	be	AUX
dem-1052	72	18	assumed	assume	VERB
dem-1052	72	19	to	to	PART
dem-1052	72	20	follow	follow	VERB
dem-1052	72	21	the	the	DET
dem-1052	72	22	distribution	distribution	NOUN
dem-1052	72	23	defined	define	VERB
dem-1052	72	24	by	by	ADP
dem-1052	72	25	(	(	PUNCT
dem-1052	72	26	3	3	NUM
dem-1052	72	27	)	)	PUNCT
dem-1052	72	28	,	,	PUNCT
dem-1052	72	29	and	and	CCONJ
dem-1052	72	30	the	the	DET
dem-1052	72	31	resulting	result	VERB
dem-1052	72	32	model	model	NOUN
dem-1052	72	33	is	be	AUX
dem-1052	72	34	termed	term	VERB
dem-1052	72	35	the	the	DET
dem-1052	72	36	jumpdiffusion	jumpdiffusion	NOUN
dem-1052	72	37	model	model	NOUN
dem-1052	72	38	with	with	ADP
dem-1052	72	39	m	m	PROPN
dem-1052	72	40	jumps	jump	NOUN
dem-1052	72	41	,	,	PUNCT
dem-1052	72	42	or	or	CCONJ
dem-1052	72	43	jd(m)j	jd(m)j	PROPN
dem-1052	72	44	,	,	PUNCT
dem-1052	72	45	in	in	ADP
dem-1052	72	46	short	short	ADJ
dem-1052	72	47	.	.	PUNCT
dem-1052	73	1	the	the	DET
dem-1052	73	2	construction	construction	NOUN
dem-1052	73	3	of	of	ADP
dem-1052	73	4	the	the	DET
dem-1052	73	5	process	process	NOUN
dem-1052	73	6	restricts	restrict	VERB
dem-1052	73	7	the	the	DET
dem-1052	73	8	number	number	NOUN
dem-1052	73	9	of	of	ADP
dem-1052	73	10	jumps	jump	NOUN
dem-1052	73	11	over	over	ADP
dem-1052	73	12	any	any	DET
dem-1052	73	13	time	time	NOUN
dem-1052	73	14	interval	interval	NOUN
dem-1052	73	15	∆	∆	PROPN
dem-1052	73	16	to	to	ADP
dem-1052	73	17	m	m	PRON
dem-1052	73	18	,	,	PUNCT
dem-1052	73	19	with	with	ADP
dem-1052	73	20	the	the	DET
dem-1052	73	21	magnitude	magnitude	NOUN
dem-1052	73	22	of	of	ADP
dem-1052	73	23	each	each	DET
dem-1052	73	24	jump	jump	NOUN
dem-1052	73	25	model	model	NOUN
dem-1052	73	26	with	with	ADP
dem-1052	73	27	normal	normal	ADJ
dem-1052	73	28	distribution	distribution	NOUN
dem-1052	73	29	(	(	PUNCT
dem-1052	73	30	)	)	PUNCT
dem-1052	73	31	2	2	NUM
dem-1052	73	32	,	,	PUNCT
dem-1052	73	33	qqn	qqn	X
dem-1052	73	34	σµ	σµ	NOUN
dem-1052	73	35	.	.	PUNCT
dem-1052	74	1	finally	finally	ADV
dem-1052	74	2	,	,	PUNCT
dem-1052	74	3	let	let	VERB
dem-1052	74	4	us	we	PRON
dem-1052	74	5	note	note	VERB
dem-1052	74	6	that	that	SCONJ
dem-1052	74	7	the	the	DET
dem-1052	74	8	jump	jump	NOUN
dem-1052	74	9	-	-	PUNCT
dem-1052	74	10	diffusion	diffusion	NOUN
dem-1052	74	11	specification	specification	NOUN
dem-1052	74	12	under	under	ADP
dem-1052	74	13	study	study	NOUN
dem-1052	74	14	is	be	AUX
dem-1052	74	15	some	some	DET
dem-1052	74	16	approximation	approximation	NOUN
dem-1052	74	17	to	to	ADP
dem-1052	74	18	the	the	DET
dem-1052	74	19	merton	merton	PROPN
dem-1052	74	20	model	model	NOUN
dem-1052	74	21	.	.	PUNCT
dem-1052	75	1	therefore	therefore	ADV
dem-1052	75	2	,	,	PUNCT
dem-1052	75	3	and	and	CCONJ
dem-1052	75	4	on	on	ADP
dem-1052	75	5	a	a	DET
dem-1052	75	6	more	more	ADV
dem-1052	75	7	statistical	statistical	ADJ
dem-1052	75	8	note	note	NOUN
dem-1052	75	9	,	,	PUNCT
dem-1052	75	10	estimators	estimator	NOUN
dem-1052	75	11	of	of	ADP
dem-1052	75	12	jd(m)j	jd(m)j	PROPN
dem-1052	75	13	model	model	NOUN
dem-1052	75	14	parameters	parameter	NOUN
dem-1052	75	15	could	could	AUX
dem-1052	75	16	be	be	AUX
dem-1052	75	17	treated	treat	VERB
dem-1052	75	18	as	as	ADP
dem-1052	75	19	approximations	approximation	NOUN
dem-1052	75	20	of	of	ADP
dem-1052	75	21	the	the	DET
dem-1052	75	22	merton	merton	ADJ
dem-1052	75	23	model	model	NOUN
dem-1052	75	24	parameters	parameter	NOUN
dem-1052	75	25	.	.	PUNCT
dem-1052	76	1	1	1	NUM
dem-1052	76	2	see	see	VERB
dem-1052	76	3	frühwirth	frühwirth	NOUN
dem-1052	76	4	-	-	PUNCT
dem-1052	76	5	schnatter	schnatter	NOUN
dem-1052	76	6	(	(	PUNCT
dem-1052	76	7	2006	2006	NUM
dem-1052	76	8	)	)	PUNCT
dem-1052	76	9	for	for	ADP
dem-1052	76	10	a	a	DET
dem-1052	76	11	thorough	thorough	ADJ
dem-1052	76	12	exposition	exposition	NOUN
dem-1052	76	13	on	on	ADP
dem-1052	76	14	mixture	mixture	NOUN
dem-1052	76	15	modeling	modeling	NOUN
dem-1052	76	16	.	.	PUNCT
dem-1052	77	1	maciej	maciej	PROPN
dem-1052	77	2	kostrzewski	kostrzewski	PROPN
dem-1052	77	3	dynamic	dynamic	ADJ
dem-1052	77	4	econometric	econometric	ADJ
dem-1052	77	5	models	model	NOUN
dem-1052	77	6	12	12	NUM
dem-1052	77	7	(	(	PUNCT
dem-1052	77	8	2012	2012	NUM
dem-1052	77	9	)	)	PUNCT
dem-1052	77	10	53–71	53–71	NOUN
dem-1052	77	11	56	56	NUM
dem-1052	77	12	2	2	NUM
dem-1052	77	13	.	.	PUNCT
dem-1052	78	1	bayesian	bayesian	NOUN
dem-1052	78	2	inference	inference	NOUN
dem-1052	78	3	for	for	ADP
dem-1052	78	4	the	the	DET
dem-1052	78	5	jd(m)j	jd(m)j	PROPN
dem-1052	78	6	model	model	NOUN
dem-1052	78	7	in	in	ADP
dem-1052	78	8	the	the	DET
dem-1052	78	9	jd(m)j	jd(m)j	PROPN
dem-1052	78	10	model	model	NOUN
dem-1052	78	11	there	there	PRON
dem-1052	78	12	are	be	VERB
dem-1052	78	13	five	five	NUM
dem-1052	78	14	unknown	unknown	ADJ
dem-1052	78	15	parameters	parameter	NOUN
dem-1052	78	16	(	(	PUNCT
dem-1052	78	17	)	)	PUNCT
dem-1052	78	18	θ∈22	θ∈22	INTJ
dem-1052	78	19	,	,	PUNCT
dem-1052	78	20	,	,	PUNCT
dem-1052	78	21	,	,	PUNCT
dem-1052	78	22	,	,	PUNCT
dem-1052	78	23	qq	qq	PROPN
dem-1052	78	24	σµλσµ	σµλσµ	PROPN
dem-1052	78	25	,	,	PUNCT
dem-1052	78	26	where	where	SCONJ
dem-1052	78	27	(	(	PUNCT
dem-1052	78	28	)	)	PUNCT
dem-1052	78	29	(	(	PUNCT
dem-1052	78	30	)	)	PUNCT
dem-1052	78	31	(	(	PUNCT
dem-1052	78	32	)	)	PUNCT
dem-1052	78	33	5,0,0,0	5,0,0,0	NUM
dem-1052	78	34	rrr	rrr	NOUN
dem-1052	78	35	⊂∞××∞×∞×=θ	⊂∞××∞×∞×=θ	NOUN
dem-1052	78	36	.	.	PUNCT
dem-1052	79	1	the	the	DET
dem-1052	79	2	likelihood	likelihood	NOUN
dem-1052	79	3	function	function	NOUN
dem-1052	79	4	is	be	AUX
dem-1052	79	5	given	give	VERB
dem-1052	79	6	by	by	ADP
dem-1052	79	7	:	:	PUNCT
dem-1052	79	8	(	(	PUNCT
dem-1052	79	9	)	)	PUNCT
dem-1052	79	10	.	.	PUNCT
dem-1052	80	1	,	,	PUNCT
dem-1052	80	2	2	2	NUM
dem-1052	80	3	1	1	NUM
dem-1052	80	4	;	;	PUNCT
dem-1052	80	5	222	222	NUM
dem-1052	80	6	01	01	NUM
dem-1052	80	7			NOUN
dem-1052	80	8			PUNCT
dem-1052	81	1			PROPN
dem-1052	82	1			INTJ
dem-1052	82	2			NOUN
dem-1052	82	3			VERB
dem-1052	82	4	+	+	SYM
dem-1052	82	5	∆+∆	∆+∆	X
dem-1052	82	6			PUNCT
dem-1052	83	1			PROPN
dem-1052	83	2			PROPN
dem-1052	83	3			PROPN
dem-1052	83	4			NOUN
dem-1052	83	5	−=	−=	PUNCT
dem-1052	83	6	∑∏	∑∏	NOUN
dem-1052	84	1	=	=	SYM
dem-1052	84	2	=	=	SYM
dem-1052	84	3	kkxwxp	kkxwxp	PROPN
dem-1052	84	4	qqik	qqik	PROPN
dem-1052	84	5	m	m	PROPN
dem-1052	84	6	k	k	NOUN
dem-1052	85	1	n	n	CCONJ
dem-1052	85	2	i	i	PRON
dem-1052	85	3	σσµσµφθ	σσµσµφθ	VERB
dem-1052	85	4	(	(	PUNCT
dem-1052	85	5	4	4	NUM
dem-1052	85	6	)	)	PUNCT
dem-1052	85	7	if	if	SCONJ
dem-1052	85	8	we	we	PRON
dem-1052	85	9	observe	observe	VERB
dem-1052	85	10	a	a	DET
dem-1052	85	11	path	path	NOUN
dem-1052	85	12	of	of	ADP
dem-1052	85	13	some	some	DET
dem-1052	85	14	jd(m)j	jd(m)j	PROPN
dem-1052	85	15	process	process	NOUN
dem-1052	85	16	we	we	PRON
dem-1052	85	17	do	do	AUX
dem-1052	85	18	not	not	PART
dem-1052	85	19	know	know	VERB
dem-1052	85	20	whether	whether	SCONJ
dem-1052	85	21	the	the	DET
dem-1052	85	22	observations	observation	NOUN
dem-1052	85	23	or	or	CCONJ
dem-1052	85	24	which	which	PRON
dem-1052	85	25	of	of	ADP
dem-1052	85	26	them	they	PRON
dem-1052	85	27	have	have	AUX
dem-1052	85	28	resulted	result	VERB
dem-1052	85	29	from	from	ADP
dem-1052	85	30	jumps	jump	NOUN
dem-1052	85	31	.	.	PUNCT
dem-1052	86	1	moreover	moreover	ADV
dem-1052	86	2	,	,	PUNCT
dem-1052	86	3	we	we	PRON
dem-1052	86	4	are	be	AUX
dem-1052	86	5	not	not	PART
dem-1052	86	6	able	able	ADJ
dem-1052	86	7	to	to	PART
dem-1052	86	8	(	(	PUNCT
dem-1052	86	9	directly	directly	ADV
dem-1052	86	10	)	)	PUNCT
dem-1052	86	11	identify	identify	VERB
dem-1052	86	12	an	an	DET
dem-1052	86	13	impact	impact	NOUN
dem-1052	86	14	of	of	ADP
dem-1052	86	15	the	the	DET
dem-1052	86	16	pure	pure	ADJ
dem-1052	86	17	diffusion	diffusion	NOUN
dem-1052	86	18	process	process	NOUN
dem-1052	86	19	and	and	CCONJ
dem-1052	86	20	the	the	DET
dem-1052	86	21	jumps	jump	NOUN
dem-1052	86	22	.	.	PUNCT
dem-1052	87	1	in	in	ADP
dem-1052	87	2	other	other	ADJ
dem-1052	87	3	words	word	NOUN
dem-1052	87	4	,	,	PUNCT
dem-1052	87	5	we	we	PRON
dem-1052	87	6	do	do	AUX
dem-1052	87	7	not	not	PART
dem-1052	87	8	know	know	VERB
dem-1052	87	9	which	which	DET
dem-1052	87	10	component	component	NOUN
dem-1052	87	11	of	of	ADP
dem-1052	87	12	sum	sum	NOUN
dem-1052	87	13	(	(	PUNCT
dem-1052	87	14	3	3	NUM
dem-1052	87	15	)	)	PUNCT
dem-1052	87	16	is	be	AUX
dem-1052	87	17	“	"	PUNCT
dem-1052	87	18	responsible	responsible	ADJ
dem-1052	87	19	”	"	PUNCT
dem-1052	87	20	for	for	ADP
dem-1052	87	21	each	each	DET
dem-1052	87	22	observation	observation	NOUN
dem-1052	87	23	.	.	PUNCT
dem-1052	88	1	to	to	PART
dem-1052	88	2	solve	solve	VERB
dem-1052	88	3	this	this	DET
dem-1052	88	4	problem	problem	NOUN
dem-1052	88	5	we	we	PRON
dem-1052	88	6	introduce	introduce	VERB
dem-1052	88	7	latent	latent	NOUN
dem-1052	88	8	variables	variable	NOUN
dem-1052	88	9	(	(	PUNCT
dem-1052	88	10	)	)	PUNCT
dem-1052	88	11	nzzz	nzzz	PROPN
dem-1052	88	12	...	...	PUNCT
dem-1052	88	13	,	,	PUNCT
dem-1052	88	14	,	,	PUNCT
dem-1052	88	15	1=	1=	NOUN
dem-1052	88	16	such	such	ADJ
dem-1052	88	17	that	that	SCONJ
dem-1052	88	18	{	{	PUNCT
dem-1052	88	19	}	}	PUNCT
dem-1052	88	20	mzi	mzi	NOUN
dem-1052	88	21	...	...	PUNCT
dem-1052	88	22	,	,	PUNCT
dem-1052	88	23	,	,	PUNCT
dem-1052	88	24	1,0∈	1,0∈	NUM
dem-1052	88	25	and	and	CCONJ
dem-1052	88	26	(	(	PUNCT
dem-1052	88	27	)	)	PUNCT
dem-1052	88	28	ji	ji	PROPN
dem-1052	88	29	wjzp	wjzp	NOUN
dem-1052	88	30	=	=	NOUN
dem-1052	88	31	=	=	SYM
dem-1052	88	32	θ	θ	PROPN
dem-1052	88	33	,	,	PUNCT
dem-1052	88	34	where	where	SCONJ
dem-1052	88	35	{	{	PUNCT
dem-1052	88	36	}	}	PUNCT
dem-1052	88	37	ni	ni	PROPN
dem-1052	88	38	...	...	PUNCT
dem-1052	88	39	,	,	PUNCT
dem-1052	88	40	,	,	PUNCT
dem-1052	88	41	1∈	1∈	PROPN
dem-1052	88	42	and	and	CCONJ
dem-1052	88	43	{	{	PUNCT
dem-1052	88	44	}	}	PUNCT
dem-1052	88	45	mj	mj	NOUN
dem-1052	88	46	...	...	PUNCT
dem-1052	88	47	,	,	PUNCT
dem-1052	88	48	,	,	PUNCT
dem-1052	88	49	1,0∈	1,0∈	NUM
dem-1052	88	50	.	.	PUNCT
dem-1052	89	1	by	by	ADP
dem-1052	89	2	means	mean	NOUN
dem-1052	89	3	of	of	ADP
dem-1052	89	4	iz	iz	INTJ
dem-1052	89	5	’s	’s	ADV
dem-1052	89	6	,	,	PUNCT
dem-1052	89	7	we	we	PRON
dem-1052	89	8	can	can	AUX
dem-1052	89	9	assess	assess	VERB
dem-1052	89	10	the	the	DET
dem-1052	89	11	contribution	contribution	NOUN
dem-1052	89	12	made	make	VERB
dem-1052	89	13	by	by	ADP
dem-1052	89	14	the	the	DET
dem-1052	89	15	jumps	jump	NOUN
dem-1052	89	16	(	(	PUNCT
dem-1052	89	17	as	as	ADP
dem-1052	89	18	compared	compare	VERB
dem-1052	89	19	with	with	ADP
dem-1052	89	20	the	the	DET
dem-1052	89	21	pure	pure	ADJ
dem-1052	89	22	diffusion	diffusion	NOUN
dem-1052	89	23	compound	compound	NOUN
dem-1052	89	24	)	)	PUNCT
dem-1052	89	25	to	to	PART
dem-1052	89	26	explain	explain	VERB
dem-1052	89	27	each	each	PRON
dem-1052	89	28	of	of	ADP
dem-1052	89	29	n	n	PRON
dem-1052	89	30	observations	observation	NOUN
dem-1052	89	31	.	.	PUNCT
dem-1052	90	1	increments	increment	NOUN
dem-1052	90	2	of	of	ADP
dem-1052	90	3	the	the	DET
dem-1052	90	4	poisson	poisson	NOUN
dem-1052	90	5	process	process	NOUN
dem-1052	90	6	n	n	PRON
dem-1052	90	7	are	be	AUX
dem-1052	90	8	independent	independent	ADJ
dem-1052	90	9	,	,	PUNCT
dem-1052	90	10	variables	variable	NOUN
dem-1052	90	11	nzz	nzz	NOUN
dem-1052	90	12	,	,	PUNCT
dem-1052	90	13	...	...	PUNCT
dem-1052	90	14	,	,	PUNCT
dem-1052	90	15	1	1	NUM
dem-1052	90	16	are	be	AUX
dem-1052	90	17	also	also	ADV
dem-1052	90	18	independent	independent	ADJ
dem-1052	90	19	.	.	PUNCT
dem-1052	91	1	consequently	consequently	ADV
dem-1052	91	2	,	,	PUNCT
dem-1052	91	3	(	(	PUNCT
dem-1052	91	4	)	)	PUNCT
dem-1052	91	5			PROPN
dem-1052	91	6			PUNCT
dem-1052	92	1			PROPN
dem-1052	93	1			INTJ
dem-1052	93	2			NOUN
dem-1052	93	3			VERB
dem-1052	93	4	+	+	SYM
dem-1052	93	5	∆+∆	∆+∆	X
dem-1052	93	6			PUNCT
dem-1052	94	1			PROPN
dem-1052	94	2			PROPN
dem-1052	94	3			PROPN
dem-1052	94	4			PROPN
dem-1052	94	5	−=	−=	X
dem-1052	94	6	iqiqiii	iqiqiii	PROPN
dem-1052	94	7	zzxzxp	zzxzxp	NOUN
dem-1052	94	8	222	222	NUM
dem-1052	94	9	,	,	PUNCT
dem-1052	94	10	2	2	NUM
dem-1052	94	11	1	1	NUM
dem-1052	94	12	;	;	PUNCT
dem-1052	94	13	,	,	PUNCT
dem-1052	94	14	σσµσµφθ	σσµσµφθ	NOUN
dem-1052	94	15	and	and	CCONJ
dem-1052	94	16	(	(	PUNCT
dem-1052	94	17	)	)	PUNCT
dem-1052	94	18	.	.	PUNCT
dem-1052	95	1	,	,	PUNCT
dem-1052	95	2	2	2	NUM
dem-1052	95	3	1	1	NUM
dem-1052	95	4	;	;	PUNCT
dem-1052	95	5	,	,	PUNCT
dem-1052	95	6	222	222	NUM
dem-1052	95	7	1	1	NUM
dem-1052	95	8			NOUN
dem-1052	95	9			PUNCT
dem-1052	96	1			PROPN
dem-1052	97	1			INTJ
dem-1052	97	2			NOUN
dem-1052	97	3			VERB
dem-1052	97	4	+	+	SYM
dem-1052	97	5	∆+∆	∆+∆	X
dem-1052	97	6			PUNCT
dem-1052	98	1			PROPN
dem-1052	98	2			NOUN
dem-1052	98	3			NOUN
dem-1052	98	4			VERB
dem-1052	98	5	−=∏	−=∏	PROPN
dem-1052	98	6	=	=	PUNCT
dem-1052	98	7	iqiqi	iqiqi	PROPN
dem-1052	99	1	n	n	CCONJ
dem-1052	99	2	i	i	PROPN
dem-1052	99	3	zzxzxp	zzxzxp	NOUN
dem-1052	99	4	σσµσµφθ	σσµσµφθ	VERB
dem-1052	99	5	it	it	PRON
dem-1052	99	6	is	be	AUX
dem-1052	99	7	advisable	advisable	ADJ
dem-1052	99	8	to	to	PART
dem-1052	99	9	consider	consider	VERB
dem-1052	99	10	the	the	DET
dem-1052	99	11	following	follow	VERB
dem-1052	99	12	reparametrization	reparametrization	NOUN
dem-1052	99	13	of	of	ADP
dem-1052	99	14	the	the	DET
dem-1052	99	15	model	model	NOUN
dem-1052	99	16	parameters	parameter	NOUN
dem-1052	99	17	:	:	PUNCT
dem-1052	99	18	∆=	∆=	VERB
dem-1052	99	19	λl	λl	X
dem-1052	99	20	,	,	PUNCT
dem-1052	99	21	2	2	NUM
dem-1052	99	22	1	1	NUM
dem-1052	99	23	σσ	σσ	ADP
dem-1052	99	24	=	=	NOUN
dem-1052	99	25	h	h	NOUN
dem-1052	99	26	,	,	PUNCT
dem-1052	99	27	2	2	NUM
dem-1052	99	28	1	1	NUM
dem-1052	99	29	q	q	PROPN
dem-1052	99	30	qh	qh	NOUN
dem-1052	99	31	σ	σ	PROPN
dem-1052	99	32	=	=	PROPN
dem-1052	99	33	,	,	PUNCT
dem-1052	99	34	under	under	ADP
dem-1052	99	35	which	which	PRON
dem-1052	99	36	vector	vector	NOUN
dem-1052	99	37	of	of	ADP
dem-1052	99	38	all	all	DET
dem-1052	99	39	the	the	DET
dem-1052	99	40	n+15	n+15	PROPN
dem-1052	99	41	unknown	unknown	ADJ
dem-1052	99	42	quantities	quantity	NOUN
dem-1052	99	43	is	be	AUX
dem-1052	99	44	given	give	VERB
dem-1052	99	45	by	by	ADP
dem-1052	99	46	:	:	PUNCT
dem-1052	99	47	(	(	PUNCT
dem-1052	99	48	)	)	PUNCT
dem-1052	99	49	(	(	PUNCT
dem-1052	99	50	)	)	PUNCT
dem-1052	99	51	.	.	PUNCT
dem-1052	99	52	,	,	PUNCT
dem-1052	99	53	,	,	PUNCT
dem-1052	99	54	,	,	PUNCT
dem-1052	99	55	,	,	PUNCT
dem-1052	99	56	,	,	PUNCT
dem-1052	99	57	...	...	PUNCT
dem-1052	99	58	,	,	PUNCT
dem-1052	99	59	,	,	PUNCT
dem-1052	99	60	,	,	PUNCT
dem-1052	99	61	1	1	NUM
dem-1052	99	62	qqn	qqn	NOUN
dem-1052	99	63	hlhzzz	hlhzzz	NOUN
dem-1052	99	64	µµθ	µµθ	PROPN
dem-1052	99	65	σ=	σ=	NOUN
dem-1052	99	66	the	the	DET
dem-1052	99	67	bayesian	bayesian	NOUN
dem-1052	99	68	model	model	NOUN
dem-1052	99	69	is	be	AUX
dem-1052	99	70	defined	define	VERB
dem-1052	99	71	by	by	ADP
dem-1052	99	72	the	the	DET
dem-1052	99	73	joint	joint	ADJ
dem-1052	99	74	distribution	distribution	NOUN
dem-1052	99	75	of	of	ADP
dem-1052	99	76	the	the	DET
dem-1052	99	77	observables	observable	NOUN
dem-1052	99	78	x	x	X
dem-1052	99	79	,	,	PUNCT
dem-1052	99	80	the	the	DET
dem-1052	99	81	hidden	hidden	ADJ
dem-1052	99	82	variables	variable	NOUN
dem-1052	99	83	z	z	PROPN
dem-1052	99	84	and	and	CCONJ
dem-1052	99	85	the	the	DET
dem-1052	99	86	parameters	parameter	NOUN
dem-1052	99	87	θ	θ	PROPN
dem-1052	99	88	:	:	PUNCT
dem-1052	99	89	(	(	PUNCT
dem-1052	99	90	)	)	PUNCT
dem-1052	99	91	(	(	PUNCT
dem-1052	99	92	)	)	PUNCT
dem-1052	99	93	(	(	PUNCT
dem-1052	99	94	)	)	PUNCT
dem-1052	99	95	.	.	PUNCT
dem-1052	100	1	,	,	PUNCT
dem-1052	100	2	,	,	PUNCT
dem-1052	100	3	,	,	PUNCT
dem-1052	100	4	,	,	PUNCT
dem-1052	100	5	θθθ	θθθ	NOUN
dem-1052	100	6	zpzxpzxp	zpzxpzxp	NOUN
dem-1052	100	7	=	=	PUNCT
dem-1052	100	8	under	under	ADP
dem-1052	100	9	a	a	DET
dem-1052	100	10	common	common	ADJ
dem-1052	100	11	assumption	assumption	NOUN
dem-1052	100	12	of	of	ADP
dem-1052	100	13	the	the	DET
dem-1052	100	14	mutual	mutual	ADJ
dem-1052	100	15	prior	prior	ADJ
dem-1052	100	16	independence	independence	NOUN
dem-1052	100	17	among	among	ADP
dem-1052	100	18	the	the	DET
dem-1052	100	19	covariates	covariate	NOUN
dem-1052	100	20	of	of	ADP
dem-1052	100	21	θ	θ	PROPN
dem-1052	100	22	,	,	PUNCT
dem-1052	100	23	the	the	DET
dem-1052	100	24	joint	joint	ADJ
dem-1052	100	25	prior	prior	ADJ
dem-1052	100	26	density	density	NOUN
dem-1052	100	27	is	be	AUX
dem-1052	100	28	formed	form	VERB
dem-1052	100	29	:	:	PUNCT
dem-1052	100	30	(	(	PUNCT
dem-1052	100	31	)	)	PUNCT
dem-1052	100	32	(	(	PUNCT
dem-1052	100	33	)	)	PUNCT
dem-1052	100	34	(	(	PUNCT
dem-1052	100	35	)	)	PUNCT
dem-1052	100	36	(	(	PUNCT
dem-1052	100	37	)	)	PUNCT
dem-1052	100	38	(	(	PUNCT
dem-1052	100	39	)	)	PUNCT
dem-1052	100	40	(	(	PUNCT
dem-1052	100	41	)	)	PUNCT
dem-1052	100	42	(	(	PUNCT
dem-1052	100	43	)	)	PUNCT
dem-1052	100	44	(	(	PUNCT
dem-1052	100	45	)	)	PUNCT
dem-1052	100	46	(	(	PUNCT
dem-1052	100	47	)	)	PUNCT
dem-1052	100	48	,	,	PUNCT
dem-1052	100	49	,	,	PUNCT
dem-1052	100	50	1	1	NUM
dem-1052	100	51	θµµθθθ	θµµθθθ	NOUN
dem-1052	100	52	σ	σ	NOUN
dem-1052	101	1	i	i	PRON
dem-1052	102	1	n	n	VERB
dem-1052	103	1	i	i	PRON
dem-1052	103	2	qq	qq	VERB
dem-1052	103	3	zphpplphpppzpzp	zphpplphpppzpzp	X
dem-1052	104	1	=	=	SYM
dem-1052	105	1	∏==	∏==	PROPN
dem-1052	105	2	bayesian	bayesian	NOUN
dem-1052	105	3	pricing	pricing	NOUN
dem-1052	105	4	of	of	ADP
dem-1052	105	5	the	the	DET
dem-1052	105	6	optimal	optimal	ADJ
dem-1052	105	7	-	-	PUNCT
dem-1052	105	8	replication	replication	NOUN
dem-1052	105	9	strategy	strategy	NOUN
dem-1052	105	10	for	for	ADP
dem-1052	105	11	the	the	DET
dem-1052	105	12	european	european	ADJ
dem-1052	105	13	option	option	NOUN
dem-1052	105	14	…	…	PUNCT
dem-1052	105	15	dynamic	dynamic	ADJ
dem-1052	105	16	econometric	econometric	ADJ
dem-1052	105	17	models	model	NOUN
dem-1052	105	18	12	12	NUM
dem-1052	105	19	(	(	PUNCT
dem-1052	105	20	2012	2012	NUM
dem-1052	105	21	)	)	PUNCT
dem-1052	105	22	53–71	53–71	NOUN
dem-1052	105	23	57	57	NUM
dem-1052	105	24	where	where	SCONJ
dem-1052	105	25	:	:	PUNCT
dem-1052	105	26	(	(	PUNCT
dem-1052	105	27	)	)	PUNCT
dem-1052	105	28	(	(	PUNCT
dem-1052	105	29	)	)	PUNCT
dem-1052	105	30	(	(	PUNCT
dem-1052	105	31	)	)	PUNCT
dem-1052	105	32	,	,	PUNCT
dem-1052	105	33	,	,	PUNCT
dem-1052	105	34	,	,	PUNCT
dem-1052	105	35	0for	0for	PROPN
dem-1052	105	36	!	!	PUNCT
dem-1052	105	37	!	!	PUNCT
dem-1052	106	1	,	,	PUNCT
dem-1052	106	2	1	1	NUM
dem-1052	106	3	0	0	NUM
dem-1052	106	4	mk	mk	PROPN
dem-1052	106	5	jk	jk	PROPN
dem-1052	106	6	wwjzp	wwjzp	PROPN
dem-1052	106	7	jm	jm	PROPN
dem-1052	106	8	j	j	PROPN
dem-1052	106	9	k	k	PROPN
dem-1052	106	10	kji	kji	PRON
dem-1052	106	11	=	=	NOUN
dem-1052	106	12			PROPN
dem-1052	106	13			PROPN
dem-1052	106	14			PROPN
dem-1052	106	15			PROPN
dem-1052	106	16			ADJ
dem-1052	106	17			ADJ
dem-1052	106	18			NUM
dem-1052	106	19			NOUN
dem-1052	106	20	∆∆	∆∆	NOUN
dem-1052	107	1	=	=	NOUN
dem-1052	107	2	=	=	SYM
dem-1052	107	3	=	=	SYM
dem-1052	107	4	−	−	PROPN
dem-1052	107	5	=	=	PUNCT
dem-1052	107	6	∑	∑	PUNCT
dem-1052	107	7	λλθ	λλθ	ADJ
dem-1052	107	8	(	(	PUNCT
dem-1052	107	9	)	)	PUNCT
dem-1052	107	10	(	(	PUNCT
dem-1052	107	11	)	)	PUNCT
dem-1052	107	12	,	,	PUNCT
dem-1052	107	13	,	,	PUNCT
dem-1052	107	14	;	;	PUNCT
dem-1052	107	15	2	2	NUM
dem-1052	107	16	µµµφµ	µµµφµ	ADJ
dem-1052	107	17	smp	smp	NOUN
dem-1052	107	18	=	=	SYM
dem-1052	107	19	(	(	PUNCT
dem-1052	107	20	)	)	PUNCT
dem-1052	107	21	(	(	PUNCT
dem-1052	107	22	)	)	PUNCT
dem-1052	107	23	(	(	PUNCT
dem-1052	107	24	)	)	PUNCT
dem-1052	107	25	,	,	PUNCT
dem-1052	107	26	2	2	NUM
dem-1052	107	27	/	/	SYM
dem-1052	107	28	exp2/2	exp2/2	PROPN
dem-1052	107	29	σ	σ	NOUN
dem-1052	107	30	ν	ν	NOUN
dem-1052	107	31	σσ	σσ	ADP
dem-1052	107	32	σ	σ	PROPN
dem-1052	107	33	ahhhp	ahhhp	NOUN
dem-1052	107	34	−∝	−∝	PROPN
dem-1052	107	35	−	−	PROPN
dem-1052	107	36	(	(	PUNCT
dem-1052	107	37	)	)	PUNCT
dem-1052	107	38	(	(	PUNCT
dem-1052	107	39	)	)	PUNCT
dem-1052	107	40	(	(	PUNCT
dem-1052	107	41	)	)	PUNCT
dem-1052	107	42	,	,	PUNCT
dem-1052	107	43	2	2	NUM
dem-1052	107	44	/	/	SYM
dem-1052	107	45	exp2/2	exp2/2	VERB
dem-1052	107	46	lllp	lllp	NOUN
dem-1052	107	47	l	l	NOUN
dem-1052	107	48	−∝	−∝	NOUN
dem-1052	107	49	−ν	−ν	NOUN
dem-1052	107	50	(	(	PUNCT
dem-1052	107	51	)	)	PUNCT
dem-1052	107	52	(	(	PUNCT
dem-1052	107	53	)	)	PUNCT
dem-1052	107	54	,	,	PUNCT
dem-1052	107	55	,	,	PUNCT
dem-1052	107	56	;	;	PUNCT
dem-1052	107	57	2	2	NUM
dem-1052	107	58	qqqq	qqqq	NOUN
dem-1052	107	59	smp	smp	PROPN
dem-1052	107	60	µφµ	µφµ	PROPN
dem-1052	107	61	=	=	PUNCT
dem-1052	107	62	(	(	PUNCT
dem-1052	107	63	)	)	PUNCT
dem-1052	107	64	(	(	PUNCT
dem-1052	107	65	)	)	PUNCT
dem-1052	107	66	(	(	PUNCT
dem-1052	107	67	)	)	PUNCT
dem-1052	107	68	.2	.2	NUM
dem-1052	107	69	/	/	SYM
dem-1052	107	70	exp2/2	exp2/2	VERB
dem-1052	107	71	qqq	qqq	NOUN
dem-1052	107	72	bhhhp	bhhhp	NOUN
dem-1052	107	73	q	q	PROPN
dem-1052	108	1	−∝	−∝	PROPN
dem-1052	108	2	−ν	−ν	NOUN
dem-1052	108	3	such	such	DET
dem-1052	108	4	a	a	DET
dem-1052	108	5	choice	choice	NOUN
dem-1052	108	6	of	of	ADP
dem-1052	108	7	the	the	DET
dem-1052	108	8	prior	prior	ADJ
dem-1052	108	9	structure	structure	NOUN
dem-1052	108	10	(	(	PUNCT
dem-1052	108	11	normal	normal	ADJ
dem-1052	108	12	distributions	distribution	NOUN
dem-1052	108	13	for	for	ADP
dem-1052	108	14	µ	µ	NOUN
dem-1052	108	15	and	and	CCONJ
dem-1052	108	16	qµ	qµ	ADP
dem-1052	108	17	,	,	PUNCT
dem-1052	108	18	the	the	DET
dem-1052	108	19	gamma	gamma	NOUN
dem-1052	108	20	distributions	distribution	NOUN
dem-1052	108	21			NOUN
dem-1052	108	22			PUNCT
dem-1052	109	1			PROPN
dem-1052	109	2			NOUN
dem-1052	109	3			NOUN
dem-1052	109	4			NOUN
dem-1052	109	5	2	2	NUM
dem-1052	109	6	,	,	PUNCT
dem-1052	109	7	2	2	NUM
dem-1052	109	8	agamma	agamma	NOUN
dem-1052	109	9	σν	σν	NOUN
dem-1052	109	10	and	and	CCONJ
dem-1052	109	11			PROPN
dem-1052	109	12			PUNCT
dem-1052	110	1			PROPN
dem-1052	111	1			INTJ
dem-1052	111	2			NOUN
dem-1052	111	3			VERB
dem-1052	111	4	2	2	NUM
dem-1052	111	5	,	,	PUNCT
dem-1052	111	6	2	2	NUM
dem-1052	111	7	bgamma	bgamma	VERB
dem-1052	111	8	qν	qν	PRON
dem-1052	111	9	for	for	ADP
dem-1052	111	10	σh	σh	PROPN
dem-1052	111	11	and	and	CCONJ
dem-1052	111	12	qh	qh	NOUN
dem-1052	111	13	,	,	PUNCT
dem-1052	111	14	respectively	respectively	ADV
dem-1052	111	15	,	,	PUNCT
dem-1052	111	16	and	and	CCONJ
dem-1052	111	17	the	the	DET
dem-1052	111	18	2	2	NUM
dem-1052	111	19	lνχ	lνχ	NOUN
dem-1052	111	20	distribution	distribution	NOUN
dem-1052	111	21	for	for	ADP
dem-1052	111	22	l	l	NOUN
dem-1052	111	23	)	)	PUNCT
dem-1052	111	24	densities	density	NOUN
dem-1052	111	25	guarantees	guarantee	VERB
dem-1052	111	26	that	that	SCONJ
dem-1052	111	27	the	the	DET
dem-1052	111	28	posterior	posterior	ADJ
dem-1052	111	29	density	density	NOUN
dem-1052	111	30	is	be	AUX
dem-1052	111	31	a	a	DET
dem-1052	111	32	bounded	bounded	ADJ
dem-1052	111	33	function	function	NOUN
dem-1052	111	34	even	even	ADV
dem-1052	111	35	though	though	SCONJ
dem-1052	111	36	the	the	DET
dem-1052	111	37	likelihood	likelihood	NOUN
dem-1052	111	38	function	function	NOUN
dem-1052	111	39	is	be	AUX
dem-1052	111	40	unbounded	unbounded	ADJ
dem-1052	111	41	(	(	PUNCT
dem-1052	111	42	lin	lin	PROPN
dem-1052	111	43	,	,	PUNCT
dem-1052	111	44	huang	huang	PROPN
dem-1052	111	45	,	,	PUNCT
dem-1052	111	46	2002	2002	NUM
dem-1052	111	47	)	)	PUNCT
dem-1052	111	48	.	.	PUNCT
dem-1052	112	1	the	the	DET
dem-1052	112	2	prior	prior	ADJ
dem-1052	112	3	structure	structure	NOUN
dem-1052	112	4	is	be	AUX
dem-1052	112	5	determined	determine	VERB
dem-1052	112	6	under	under	ADP
dem-1052	112	7	1==	1==	NUM
dem-1052	112	8	ba	ba	NOUN
dem-1052	112	9	,	,	PUNCT
dem-1052	112	10	∆=	∆=	VERB
dem-1052	112	11	10lν	10lν	ADJ
dem-1052	112	12	,	,	PUNCT
dem-1052	112	13	01.0=µm	01.0=µm	PROPN
dem-1052	112	14	,	,	PUNCT
dem-1052	112	15	12	12	NUM
dem-1052	112	16	=	=	NOUN
dem-1052	112	17	µs	µs	NOUN
dem-1052	112	18	,	,	PUNCT
dem-1052	112	19	5	5	NUM
dem-1052	112	20	=	=	NUM
dem-1052	112	21	σν	σν	NOUN
dem-1052	112	22	,	,	PUNCT
dem-1052	112	23	01.0	01.0	NUM
dem-1052	112	24	=	=	SYM
dem-1052	112	25	qm	qm	PROPN
dem-1052	112	26	,	,	PUNCT
dem-1052	112	27	12	12	NUM
dem-1052	112	28	=	=	NUM
dem-1052	112	29	qs	qs	X
dem-1052	112	30	,	,	PUNCT
dem-1052	112	31	5	5	NUM
dem-1052	112	32	=	=	NOUN
dem-1052	112	33	qν	qν	NOUN
dem-1052	112	34	.	.	PUNCT
dem-1052	113	1	posterior	posterior	ADJ
dem-1052	113	2	characteristics	characteristic	NOUN
dem-1052	113	3	of	of	ADP
dem-1052	113	4	the	the	DET
dem-1052	113	5	unknown	unknown	ADJ
dem-1052	113	6	quantities	quantity	NOUN
dem-1052	113	7	are	be	AUX
dem-1052	113	8	calculated	calculate	VERB
dem-1052	113	9	via	via	ADP
dem-1052	113	10	the	the	DET
dem-1052	113	11	markov	markov	NOUN
dem-1052	113	12	chain	chain	NOUN
dem-1052	113	13	monte	monte	PROPN
dem-1052	113	14	carlo	carlo	PROPN
dem-1052	113	15	(	(	PUNCT
dem-1052	113	16	mcmc	mcmc	PROPN
dem-1052	113	17	)	)	PUNCT
dem-1052	113	18	methods	method	NOUN
dem-1052	113	19	(	(	PUNCT
dem-1052	113	20	gamerman	gamerman	NOUN
dem-1052	113	21	,	,	PUNCT
dem-1052	113	22	lopes	lope	NOUN
dem-1052	113	23	,	,	PUNCT
dem-1052	113	24	2006	2006	NUM
dem-1052	113	25	)	)	PUNCT
dem-1052	113	26	,	,	PUNCT
dem-1052	113	27	combining	combine	VERB
dem-1052	113	28	the	the	DET
dem-1052	113	29	gibbs	gibbs	PROPN
dem-1052	113	30	sampler	sampler	NOUN
dem-1052	113	31	,	,	PUNCT
dem-1052	113	32	the	the	DET
dem-1052	113	33	independence	independence	NOUN
dem-1052	113	34	and	and	CCONJ
dem-1052	113	35	the	the	DET
dem-1052	113	36	sequential	sequential	ADJ
dem-1052	113	37	metropolishastings	metropolishasting	NOUN
dem-1052	113	38	algorithms	algorithm	NOUN
dem-1052	113	39	,	,	PUNCT
dem-1052	113	40	as	as	ADV
dem-1052	113	41	well	well	ADV
dem-1052	113	42	as	as	ADP
dem-1052	113	43	the	the	DET
dem-1052	113	44	acceptance	acceptance	NOUN
dem-1052	113	45	-	-	PUNCT
dem-1052	113	46	rejection	rejection	NOUN
dem-1052	113	47	sampling	sampling	NOUN
dem-1052	113	48	.	.	PUNCT
dem-1052	114	1	for	for	ADP
dem-1052	114	2	more	more	ADJ
dem-1052	114	3	details	detail	NOUN
dem-1052	114	4	on	on	ADP
dem-1052	114	5	the	the	DET
dem-1052	114	6	technicalities	technicality	NOUN
dem-1052	114	7	we	we	PRON
dem-1052	114	8	refer	refer	VERB
dem-1052	114	9	to	to	ADP
dem-1052	114	10	kostrzewski	kostrzewski	PROPN
dem-1052	114	11	(	(	PUNCT
dem-1052	114	12	2011	2011	NUM
dem-1052	114	13	)	)	PUNCT
dem-1052	114	14	.	.	PUNCT
dem-1052	115	1	3	3	X
dem-1052	115	2	.	.	X
dem-1052	115	3	the	the	DET
dem-1052	115	4	optimal	optimal	ADJ
dem-1052	115	5	-	-	PUNCT
dem-1052	115	6	replication	replication	NOUN
dem-1052	115	7	strategy	strategy	NOUN
dem-1052	115	8	pricing	pricing	NOUN
dem-1052	115	9	and	and	CCONJ
dem-1052	115	10	hedging	hedging	NOUN
dem-1052	115	11	derivatives	derivative	NOUN
dem-1052	115	12	are	be	AUX
dem-1052	115	13	among	among	ADP
dem-1052	115	14	investors	investor	NOUN
dem-1052	115	15	’	'	PUNCT
dem-1052	115	16	fundamental	fundamental	ADJ
dem-1052	115	17	problems	problem	NOUN
dem-1052	115	18	.	.	PUNCT
dem-1052	116	1	investors	investor	NOUN
dem-1052	116	2	employ	employ	VERB
dem-1052	116	3	replication	replication	NOUN
dem-1052	116	4	strategies	strategy	NOUN
dem-1052	116	5	to	to	PART
dem-1052	116	6	hedge	hedge	VERB
dem-1052	116	7	derivatives	derivative	NOUN
dem-1052	116	8	.	.	PUNCT
dem-1052	117	1	unfortunately	unfortunately	ADV
dem-1052	117	2	,	,	PUNCT
dem-1052	117	3	in	in	ADP
dem-1052	117	4	the	the	DET
dem-1052	117	5	case	case	NOUN
dem-1052	117	6	of	of	ADP
dem-1052	117	7	incomplete	incomplete	ADJ
dem-1052	117	8	markets	market	NOUN
dem-1052	117	9	such	such	DET
dem-1052	117	10	a	a	DET
dem-1052	117	11	strategy	strategy	NOUN
dem-1052	117	12	may	may	AUX
dem-1052	117	13	not	not	PART
dem-1052	117	14	exist	exist	VERB
dem-1052	117	15	.	.	PUNCT
dem-1052	118	1	some	some	DET
dem-1052	118	2	idea	idea	NOUN
dem-1052	118	3	is	be	AUX
dem-1052	118	4	to	to	PART
dem-1052	118	5	create	create	VERB
dem-1052	118	6	a	a	DET
dem-1052	118	7	self	self	NOUN
dem-1052	118	8	-	-	PUNCT
dem-1052	118	9	financing	financing	NOUN
dem-1052	118	10	strategy	strategy	NOUN
dem-1052	118	11	,	,	PUNCT
dem-1052	118	12	the	the	DET
dem-1052	118	13	value	value	NOUN
dem-1052	118	14	of	of	ADP
dem-1052	118	15	which	which	PRON
dem-1052	118	16	is	be	AUX
dem-1052	118	17	“	"	PUNCT
dem-1052	118	18	close	close	ADJ
dem-1052	118	19	”	"	PUNCT
dem-1052	118	20	(	(	PUNCT
dem-1052	118	21	at	at	ADP
dem-1052	118	22	maturity	maturity	NOUN
dem-1052	118	23	)	)	PUNCT
dem-1052	118	24	to	to	ADP
dem-1052	118	25	the	the	DET
dem-1052	118	26	one	one	NUM
dem-1052	118	27	of	of	ADP
dem-1052	118	28	the	the	DET
dem-1052	118	29	derivative	derivative	NOUN
dem-1052	118	30	’s	’s	PART
dem-1052	118	31	payoff	payoff	NOUN
dem-1052	118	32	function	function	NOUN
dem-1052	118	33	.	.	PUNCT
dem-1052	119	1	we	we	PRON
dem-1052	119	2	apply	apply	VERB
dem-1052	119	3	the	the	DET
dem-1052	119	4	results	result	NOUN
dem-1052	119	5	of	of	ADP
dem-1052	119	6	bertsimas	bertsima	NOUN
dem-1052	119	7	,	,	PUNCT
dem-1052	119	8	kogan	kogan	NOUN
dem-1052	119	9	and	and	CCONJ
dem-1052	119	10	lo	lo	PROPN
dem-1052	119	11	(	(	PUNCT
dem-1052	119	12	2001	2001	NUM
dem-1052	119	13	)	)	PUNCT
dem-1052	119	14	to	to	PART
dem-1052	119	15	define	define	VERB
dem-1052	119	16	and	and	CCONJ
dem-1052	119	17	calculate	calculate	VERB
dem-1052	119	18	the	the	DET
dem-1052	119	19	optimal	optimal	ADJ
dem-1052	119	20	-	-	PUNCT
dem-1052	119	21	replication	replication	NOUN
dem-1052	119	22	strategy	strategy	NOUN
dem-1052	119	23	for	for	ADP
dem-1052	119	24	portfolios	portfolio	NOUN
dem-1052	119	25	comprising	comprise	VERB
dem-1052	119	26	a	a	DET
dem-1052	119	27	risky	risky	ADJ
dem-1052	119	28	asset	asset	NOUN
dem-1052	119	29	and	and	CCONJ
dem-1052	119	30	riskless	riskless	NOUN
dem-1052	119	31	bonds	bond	NOUN
dem-1052	119	32	.	.	PUNCT
dem-1052	120	1	the	the	DET
dem-1052	120	2	approach	approach	NOUN
dem-1052	120	3	involves	involve	VERB
dem-1052	120	4	buying	buying	NOUN
dem-1052	120	5	,	,	PUNCT
dem-1052	120	6	selling	selling	NOUN
dem-1052	120	7	,	,	PUNCT
dem-1052	120	8	borrowing	borrowing	NOUN
dem-1052	120	9	and	and	CCONJ
dem-1052	120	10	lending	lend	VERB
dem-1052	120	11	the	the	DET
dem-1052	120	12	portfolio	portfolio	NOUN
dem-1052	120	13	constituents	constituent	NOUN
dem-1052	120	14	.	.	PUNCT
dem-1052	121	1	let	let	VERB
dem-1052	121	2	tp	tp	NOUN
dem-1052	121	3	and	and	CCONJ
dem-1052	121	4	tb	tb	ADP
dem-1052	121	5	denote	denote	NOUN
dem-1052	121	6	price	price	NOUN
dem-1052	121	7	of	of	ADP
dem-1052	121	8	the	the	DET
dem-1052	121	9	risky	risky	ADJ
dem-1052	121	10	instrument	instrument	NOUN
dem-1052	121	11	and	and	CCONJ
dem-1052	121	12	value	value	NOUN
dem-1052	121	13	of	of	ADP
dem-1052	121	14	the	the	DET
dem-1052	121	15	riskless	riskless	NOUN
dem-1052	121	16	investment	investment	NOUN
dem-1052	121	17	at	at	ADP
dem-1052	121	18	tt	tt	PROPN
dem-1052	121	19	≤≤0	≤≤0	PUNCT
dem-1052	121	20	respectively	respectively	ADV
dem-1052	121	21	.	.	PUNCT
dem-1052	122	1	the	the	DET
dem-1052	122	2	payoff	payoff	NOUN
dem-1052	122	3	of	of	ADP
dem-1052	122	4	an	an	DET
dem-1052	122	5	european	european	ADJ
dem-1052	122	6	option	option	NOUN
dem-1052	122	7	at	at	ADP
dem-1052	122	8	maturity	maturity	NOUN
dem-1052	122	9	t	t	PROPN
dem-1052	122	10	is	be	AUX
dem-1052	122	11	denoted	denote	VERB
dem-1052	122	12	by	by	ADP
dem-1052	122	13	(	(	PUNCT
dem-1052	122	14	)	)	PUNCT
dem-1052	122	15	tpf	tpf	PROPN
dem-1052	122	16	.	.	PUNCT
dem-1052	123	1	finally	finally	ADV
dem-1052	123	2	,	,	PUNCT
dem-1052	123	3	let	let	VERB
dem-1052	123	4	tθ	tθ	PART
dem-1052	123	5	be	be	AUX
dem-1052	123	6	the	the	DET
dem-1052	123	7	amount	amount	NOUN
dem-1052	123	8	of	of	ADP
dem-1052	123	9	stocks	stock	NOUN
dem-1052	123	10	in	in	ADP
dem-1052	123	11	the	the	DET
dem-1052	123	12	portfolio	portfolio	NOUN
dem-1052	123	13	at	at	ADP
dem-1052	123	14	time	time	NOUN
dem-1052	123	15	t.	t.	PROPN
dem-1052	123	16	then	then	ADV
dem-1052	123	17	tttt	tttt	PROPN
dem-1052	123	18	bpv	bpv	NOUN
dem-1052	124	1	+	+	PROPN
dem-1052	124	2	=	=	NOUN
dem-1052	124	3	θ	θ	PROPN
dem-1052	124	4	is	be	AUX
dem-1052	124	5	the	the	DET
dem-1052	124	6	value	value	NOUN
dem-1052	124	7	of	of	ADP
dem-1052	124	8	the	the	DET
dem-1052	124	9	portfolio	portfolio	NOUN
dem-1052	124	10	at	at	ADP
dem-1052	124	11	t.	t.	PROPN
dem-1052	124	12	bertsimas	bertsimas	PROPN
dem-1052	124	13	,	,	PUNCT
dem-1052	124	14	kogan	kogan	NOUN
dem-1052	124	15	and	and	CCONJ
dem-1052	124	16	lo	lo	PROPN
dem-1052	124	17	(	(	PUNCT
dem-1052	124	18	2001	2001	NUM
dem-1052	124	19	)	)	PUNCT
dem-1052	124	20	consider	consider	VERB
dem-1052	124	21	a	a	DET
dem-1052	124	22	mean	mean	ADJ
dem-1052	124	23	-	-	PUNCT
dem-1052	124	24	squared	square	VERB
dem-1052	124	25	-	-	PUNCT
dem-1052	124	26	error	error	NOUN
dem-1052	124	27	criterion	criterion	NOUN
dem-1052	124	28	to	to	PART
dem-1052	124	29	define	define	VERB
dem-1052	124	30	the	the	DET
dem-1052	124	31	optimal	optimal	ADJ
dem-1052	124	32	-	-	PUNCT
dem-1052	124	33	replication	replication	NOUN
dem-1052	124	34	maciej	maciej	PROPN
dem-1052	124	35	kostrzewski	kostrzewski	PROPN
dem-1052	124	36	dynamic	dynamic	ADJ
dem-1052	124	37	econometric	econometric	ADJ
dem-1052	124	38	models	model	NOUN
dem-1052	124	39	12	12	NUM
dem-1052	124	40	(	(	PUNCT
dem-1052	124	41	2012	2012	NUM
dem-1052	124	42	)	)	PUNCT
dem-1052	125	1	53–71	53–71	NOUN
dem-1052	125	2	58	58	NUM
dem-1052	125	3	strategy	strategy	NOUN
dem-1052	125	4	*	*	PUNCT
dem-1052	125	5	tθ	tθ	NOUN
dem-1052	125	6	,	,	PUNCT
dem-1052	125	7	under	under	ADP
dem-1052	125	8	which	which	PRON
dem-1052	125	9	*	*	PUNCT
dem-1052	125	10	tv	tv	NOUN
dem-1052	125	11	is	be	AUX
dem-1052	125	12	the	the	DET
dem-1052	125	13	value	value	NOUN
dem-1052	125	14	of	of	ADP
dem-1052	125	15	the	the	DET
dem-1052	125	16	optimal	optimal	ADJ
dem-1052	125	17	portfolio	portfolio	NOUN
dem-1052	125	18	.	.	PUNCT
dem-1052	126	1	it	it	PRON
dem-1052	126	2	follows	follow	VERB
dem-1052	126	3	that	that	SCONJ
dem-1052	126	4	*	*	PUNCT
dem-1052	127	1	tv	tv	NOUN
dem-1052	127	2	and	and	CCONJ
dem-1052	127	3	*	*	PUNCT
dem-1052	127	4	tθ	tθ	PART
dem-1052	127	5	minimize	minimize	VERB
dem-1052	127	6	:	:	PUNCT
dem-1052	127	7	(	(	PUNCT
dem-1052	127	8	)	)	PUNCT
dem-1052	127	9	[	[	PUNCT
dem-1052	127	10	]	]	X
dem-1052	127	11	(	(	PUNCT
dem-1052	127	12	)	)	PUNCT
dem-1052	127	13	0	0	NUM
dem-1052	127	14	2	2	NUM
dem-1052	127	15	vpfve	vpfve	NOUN
dem-1052	127	16	tt	tt	PROPN
dem-1052	127	17	−	−	PROPN
dem-1052	127	18	over	over	ADP
dem-1052	127	19	{	{	PUNCT
dem-1052	127	20	}	}	PUNCT
dem-1052	127	21	tv	tv	NOUN
dem-1052	127	22	θ,0	θ,0	NOUN
dem-1052	127	23	.	.	PUNCT
dem-1052	128	1	moreover	moreover	ADV
dem-1052	128	2	,	,	PUNCT
dem-1052	128	3	{	{	PUNCT
dem-1052	128	4	}	}	PUNCT
dem-1052	128	5	(	(	PUNCT
dem-1052	128	6	)	)	PUNCT
dem-1052	128	7	[	[	PUNCT
dem-1052	128	8	]	]	X
dem-1052	128	9	(	(	PUNCT
dem-1052	128	10	)	)	PUNCT
dem-1052	128	11	0	0	NUM
dem-1052	128	12	2	2	NUM
dem-1052	128	13	,	,	PUNCT
dem-1052	128	14	0	0	NUM
dem-1052	128	15	min	min	PROPN
dem-1052	128	16	vpfve	vpfve	PROPN
dem-1052	128	17	ttv	ttv	PROPN
dem-1052	128	18	t	t	PROPN
dem-1052	128	19	−=∗	−=∗	NOUN
dem-1052	128	20	θ	θ	PROPN
dem-1052	128	21	ε	ε	PROPN
dem-1052	128	22	constitutes	constitute	VERB
dem-1052	128	23	the	the	DET
dem-1052	128	24	minimum	minimum	NOUN
dem-1052	128	25	replication	replication	NOUN
dem-1052	128	26	error	error	NOUN
dem-1052	128	27	,	,	PUNCT
dem-1052	128	28	that	that	PRON
dem-1052	128	29	is	be	AUX
dem-1052	128	30	an	an	DET
dem-1052	128	31	error	error	NOUN
dem-1052	128	32	of	of	ADP
dem-1052	128	33	fitting	fit	VERB
dem-1052	128	34	the	the	DET
dem-1052	128	35	strategy	strategy	NOUN
dem-1052	128	36	into	into	ADP
dem-1052	128	37	the	the	DET
dem-1052	128	38	payoff	payoff	NOUN
dem-1052	128	39	f	f	PROPN
dem-1052	128	40	at	at	ADP
dem-1052	128	41	t.	t.	PROPN
dem-1052	128	42	if	if	SCONJ
dem-1052	128	43	the	the	DET
dem-1052	128	44	replication	replication	NOUN
dem-1052	128	45	strategy	strategy	NOUN
dem-1052	128	46	exists	exist	VERB
dem-1052	128	47	,	,	PUNCT
dem-1052	128	48	then	then	ADV
dem-1052	128	49	0=∗ε	0=∗ε	NUM
dem-1052	129	1	and	and	CCONJ
dem-1052	129	2	(	(	PUNCT
dem-1052	129	3	)	)	PUNCT
dem-1052	129	4	tt	tt	PROPN
dem-1052	129	5	pfv	pfv	VERB
dem-1052	129	6	=	=	NOUN
dem-1052	129	7	*	*	NOUN
dem-1052	129	8	.	.	PUNCT
dem-1052	130	1	the	the	DET
dem-1052	130	2	error	error	NOUN
dem-1052	130	3	∗ε	∗ε	NOUN
dem-1052	130	4	is	be	AUX
dem-1052	130	5	construed	construe	VERB
dem-1052	130	6	as	as	ADP
dem-1052	130	7	a	a	DET
dem-1052	130	8	relative	relative	ADJ
dem-1052	130	9	measure	measure	NOUN
dem-1052	130	10	of	of	ADP
dem-1052	130	11	the	the	DET
dem-1052	130	12	market	market	NOUN
dem-1052	130	13	incompleteness	incompleteness	NOUN
dem-1052	130	14	,	,	PUNCT
dem-1052	130	15	with	with	SCONJ
dem-1052	130	16	its	its	PRON
dem-1052	130	17	relativity	relativity	NOUN
dem-1052	130	18	justified	justify	VERB
dem-1052	130	19	by	by	ADP
dem-1052	130	20	∗ε	∗ε	NOUN
dem-1052	130	21	corresponding	correspond	VERB
dem-1052	130	22	only	only	ADV
dem-1052	130	23	to	to	ADP
dem-1052	130	24	a	a	DET
dem-1052	130	25	given	give	VERB
dem-1052	130	26	derivative	derivative	NOUN
dem-1052	130	27	and	and	CCONJ
dem-1052	130	28	a	a	DET
dem-1052	130	29	given	give	VERB
dem-1052	130	30	model	model	NOUN
dem-1052	130	31	.	.	PUNCT
dem-1052	131	1	to	to	PART
dem-1052	131	2	evaluate	evaluate	VERB
dem-1052	131	3	the	the	DET
dem-1052	131	4	optimal	optimal	ADJ
dem-1052	131	5	-	-	PUNCT
dem-1052	131	6	replication	replication	NOUN
dem-1052	131	7	strategy	strategy	NOUN
dem-1052	131	8	bertsimas	bertsima	NOUN
dem-1052	131	9	,	,	PUNCT
dem-1052	131	10	kogan	kogan	NOUN
dem-1052	131	11	and	and	CCONJ
dem-1052	131	12	lo	lo	PROPN
dem-1052	131	13	(	(	PUNCT
dem-1052	131	14	2001	2001	NUM
dem-1052	131	15	)	)	PUNCT
dem-1052	131	16	make	make	VERB
dem-1052	131	17	some	some	DET
dem-1052	131	18	additional	additional	ADJ
dem-1052	131	19	assumptions	assumption	NOUN
dem-1052	131	20	:	:	PUNCT
dem-1052	131	21	1	1	X
dem-1052	131	22	.	.	X
dem-1052	131	23	there	there	PRON
dem-1052	131	24	are	be	VERB
dem-1052	131	25	no	no	DET
dem-1052	131	26	taxes	taxis	NOUN
dem-1052	131	27	and	and	CCONJ
dem-1052	131	28	transaction	transaction	NOUN
dem-1052	131	29	costs	cost	NOUN
dem-1052	131	30	.	.	PUNCT
dem-1052	132	1	2	2	X
dem-1052	132	2	.	.	X
dem-1052	132	3	purchasing	purchasing	NOUN
dem-1052	132	4	,	,	PUNCT
dem-1052	132	5	selling	selling	NOUN
dem-1052	132	6	,	,	PUNCT
dem-1052	132	7	borrowing	borrowing	NOUN
dem-1052	132	8	and	and	CCONJ
dem-1052	132	9	shortsale	shortsale	NOUN
dem-1052	132	10	are	be	AUX
dem-1052	132	11	possible	possible	ADJ
dem-1052	132	12	without	without	ADP
dem-1052	132	13	any	any	DET
dem-1052	132	14	restrictions	restriction	NOUN
dem-1052	132	15	.	.	PUNCT
dem-1052	133	1	3	3	X
dem-1052	133	2	.	.	X
dem-1052	133	3	the	the	DET
dem-1052	133	4	borrowing	borrowing	NOUN
dem-1052	133	5	and	and	CCONJ
dem-1052	133	6	lending	lending	NOUN
dem-1052	133	7	interest	interest	NOUN
dem-1052	133	8	rate	rate	NOUN
dem-1052	133	9	r	r	NOUN
dem-1052	133	10	is	be	AUX
dem-1052	133	11	constant	constant	ADJ
dem-1052	133	12	and	and	CCONJ
dem-1052	133	13	equal	equal	ADJ
dem-1052	133	14	zero	zero	NUM
dem-1052	133	15	.	.	PUNCT
dem-1052	134	1	4	4	X
dem-1052	134	2	.	.	X
dem-1052	135	1	p	p	NOUN
dem-1052	135	2	is	be	AUX
dem-1052	135	3	a	a	DET
dem-1052	135	4	markov	markov	NOUN
dem-1052	135	5	process	process	NOUN
dem-1052	135	6	.	.	PUNCT
dem-1052	136	1	5	5	X
dem-1052	136	2	.	.	X
dem-1052	136	3	trading	trading	NOUN
dem-1052	136	4	takes	take	VERB
dem-1052	136	5	place	place	NOUN
dem-1052	136	6	at	at	ADP
dem-1052	136	7	known	know	VERB
dem-1052	136	8	and	and	CCONJ
dem-1052	136	9	fixed	fix	VERB
dem-1052	136	10	times	time	NOUN
dem-1052	136	11	{	{	PUNCT
dem-1052	136	12	}	}	PUNCT
dem-1052	136	13	ni	ni	PROPN
dem-1052	136	14	ttt	ttt	PROPN
dem-1052	136	15	,	,	PUNCT
dem-1052	136	16	...	...	PUNCT
dem-1052	136	17	,	,	PUNCT
dem-1052	136	18	0∈	0∈	NOUN
dem-1052	136	19	,	,	PUNCT
dem-1052	136	20	where	where	SCONJ
dem-1052	136	21	ttt	ttt	PROPN
dem-1052	136	22	n	n	NOUN
dem-1052	136	23	=	=	NOUN
dem-1052	136	24	<	<	X
dem-1052	136	25	=	=	X
dem-1052	136	26	00	00	PUNCT
dem-1052	136	27	.	.	PUNCT
dem-1052	137	1	to	to	PART
dem-1052	137	2	simplify	simplify	VERB
dem-1052	137	3	the	the	DET
dem-1052	137	4	notation	notation	NOUN
dem-1052	137	5	let	let	VERB
dem-1052	137	6	iti	iti	PROPN
dem-1052	137	7	≡	≡	PROPN
dem-1052	137	8	.	.	PUNCT
dem-1052	138	1	the	the	DET
dem-1052	138	2	aim	aim	NOUN
dem-1052	138	3	is	be	AUX
dem-1052	138	4	to	to	PART
dem-1052	138	5	calculate	calculate	VERB
dem-1052	138	6	strategy	strategy	NOUN
dem-1052	138	7	(	(	PUNCT
dem-1052	138	8	)	)	PUNCT
dem-1052	138	9	ii	ii	PROPN
dem-1052	138	10	pvi	pvi	NOUN
dem-1052	138	11	,	,	PUNCT
dem-1052	138	12	,	,	PUNCT
dem-1052	138	13	∗θ	∗θ	NOUN
dem-1052	138	14	,	,	PUNCT
dem-1052	138	15	the	the	DET
dem-1052	138	16	initial	initial	ADJ
dem-1052	138	17	value	value	NOUN
dem-1052	138	18	∗	∗	NOUN
dem-1052	138	19	0v	0v	NOUN
dem-1052	138	20	of	of	ADP
dem-1052	138	21	the	the	DET
dem-1052	138	22	optimal	optimal	ADJ
dem-1052	138	23	portfolio	portfolio	NOUN
dem-1052	138	24	and	and	CCONJ
dem-1052	138	25	the	the	DET
dem-1052	138	26	error	error	NOUN
dem-1052	138	27	∗ε	∗ε	NOUN
dem-1052	138	28	.	.	PUNCT
dem-1052	139	1	let	let	VERB
dem-1052	139	2	ix	ix	PRON
dem-1052	139	3	be	be	AUX
dem-1052	139	4	a	a	DET
dem-1052	139	5	logarithmic	logarithmic	ADJ
dem-1052	139	6	rate	rate	NOUN
dem-1052	139	7	of	of	ADP
dem-1052	139	8	return	return	NOUN
dem-1052	139	9	such	such	ADJ
dem-1052	139	10	that	that	PRON
dem-1052	139	11	(	(	PUNCT
dem-1052	139	12	)	)	PUNCT
dem-1052	139	13	.explnexp	.explnexp	SYM
dem-1052	139	14	1	1	NUM
dem-1052	139	15	1	1	NUM
dem-1052	139	16	ii	ii	NUM
dem-1052	140	1	i	i	PRON
dem-1052	140	2	i	i	PRON
dem-1052	140	3	ii	ii	VERB
dem-1052	141	1	xp	xp	INTJ
dem-1052	141	2	p	p	PROPN
dem-1052	141	3	ppp	ppp	PROPN
dem-1052	141	4	=	=	NOUN
dem-1052	141	5			NOUN
dem-1052	141	6			NOUN
dem-1052	141	7			PUNCT
dem-1052	142	1			PROPN
dem-1052	142	2			PROPN
dem-1052	142	3			NOUN
dem-1052	142	4			NOUN
dem-1052	142	5			VERB
dem-1052	142	6			NOUN
dem-1052	142	7			PUNCT
dem-1052	143	1			PROPN
dem-1052	144	1			INTJ
dem-1052	144	2			NOUN
dem-1052	144	3			VERB
dem-1052	144	4	=	=	SYM
dem-1052	145	1	+	+	PUNCT
dem-1052	145	2	+	+	NUM
dem-1052	145	3	bellman	bellman	NOUN
dem-1052	145	4	’s	’s	PART
dem-1052	145	5	principle	principle	NOUN
dem-1052	145	6	of	of	ADP
dem-1052	145	7	optimality	optimality	NOUN
dem-1052	145	8	(	(	PUNCT
dem-1052	145	9	bertsekas	bertseka	VERB
dem-1052	145	10	,	,	PUNCT
dem-1052	145	11	1995	1995	NUM
dem-1052	145	12	)	)	PUNCT
dem-1052	145	13	yields	yield	VERB
dem-1052	145	14	the	the	DET
dem-1052	145	15	following	follow	VERB
dem-1052	145	16	theorem	theorem	NOUN
dem-1052	145	17	:	:	PUNCT
dem-1052	145	18	theorem	theorem	ADJ
dem-1052	145	19	1	1	NUM
dem-1052	145	20	(	(	PUNCT
dem-1052	145	21	bertsimas	bertsimas	PROPN
dem-1052	145	22	,	,	PUNCT
dem-1052	145	23	kogan	kogan	PROPN
dem-1052	145	24	,	,	PUNCT
dem-1052	145	25	lo	lo	PROPN
dem-1052	145	26	,	,	PUNCT
dem-1052	145	27	2001	2001	NUM
dem-1052	145	28	)	)	PUNCT
dem-1052	145	29	if	if	SCONJ
dem-1052	145	30	(	(	PUNCT
dem-1052	145	31	)	)	PUNCT
dem-1052	145	32	(	(	PUNCT
dem-1052	145	33	)	)	PUNCT
dem-1052	145	34	(	(	PUNCT
dem-1052	145	35	)	)	PUNCT
dem-1052	145	36	(	(	PUNCT
dem-1052	145	37	)	)	PUNCT
dem-1052	145	38	(	(	PUNCT
dem-1052	145	39	)	)	PUNCT
dem-1052	145	40	iinn	iinn	PROPN
dem-1052	145	41	nki	nki	PROPN
dem-1052	145	42	pvkiii	pvkiii	PROPN
dem-1052	145	43	pvpfvepvj	pvpfvepvj	VERB
dem-1052	145	44	kk	kk	PROPN
dem-1052	145	45	,	,	PUNCT
dem-1052	145	46	min	min	PROPN
dem-1052	145	47	,	,	PUNCT
dem-1052	145	48	2	2	NUM
dem-1052	145	49	1	1	NUM
dem-1052	145	50	,	,	PUNCT
dem-1052	145	51	,	,	PUNCT
dem-1052	145	52	−=	−=	VERB
dem-1052	145	53	−≤≤	−≤≤	ADP
dem-1052	145	54	θ	θ	PROPN
dem-1052	145	55	,	,	PUNCT
dem-1052	145	56	then	then	ADV
dem-1052	145	57	:	:	PUNCT
dem-1052	145	58	(	(	PUNCT
dem-1052	145	59	)	)	PUNCT
dem-1052	145	60	(	(	PUNCT
dem-1052	145	61	)	)	PUNCT
dem-1052	145	62	(	(	PUNCT
dem-1052	145	63	)	)	PUNCT
dem-1052	145	64	(	(	PUNCT
dem-1052	145	65	)	)	PUNCT
dem-1052	145	66	(	(	PUNCT
dem-1052	145	67	)	)	PUNCT
dem-1052	145	68	(	(	PUNCT
dem-1052	145	69	)	)	PUNCT
dem-1052	145	70	(	(	PUNCT
dem-1052	145	71	)	)	PUNCT
dem-1052	145	72	,	,	PUNCT
dem-1052	145	73	,	,	PUNCT
dem-1052	145	74	,	,	PUNCT
dem-1052	145	75	min	min	NOUN
dem-1052	145	76	,	,	PUNCT
dem-1052	145	77	,	,	PUNCT
dem-1052	145	78	,	,	PUNCT
dem-1052	145	79	111	111	NUM
dem-1052	145	80	,	,	PUNCT
dem-1052	145	81	,	,	PUNCT
dem-1052	145	82	2	2	NUM
dem-1052	145	83	iiiiipviiii	iiiiipviiii	ADJ
dem-1052	145	84	nnnnn	nnnnn	PROPN
dem-1052	145	85	pvpvjepvj	pvpvjepvj	PROPN
dem-1052	145	86	pfvpvj	pfvpvj	PROPN
dem-1052	145	87	ii	ii	PROPN
dem-1052	146	1	+	+	PROPN
dem-1052	146	2	+	+	PROPN
dem-1052	146	3	+	+	NOUN
dem-1052	146	4	=	=	X
dem-1052	146	5	−=	−=	NUM
dem-1052	146	6	θ	θ	PROPN
dem-1052	146	7	for	for	ADP
dem-1052	146	8	1,	1,	NUM
dem-1052	146	9	...	...	PUNCT
dem-1052	146	10	,0	,0	PUNCT
dem-1052	146	11	−=	−=	VERB
dem-1052	146	12	ni	ni	PROPN
dem-1052	146	13	.	.	PUNCT
dem-1052	147	1	bayesian	bayesian	NOUN
dem-1052	147	2	pricing	pricing	NOUN
dem-1052	147	3	of	of	ADP
dem-1052	147	4	the	the	DET
dem-1052	147	5	optimal	optimal	ADJ
dem-1052	147	6	-	-	PUNCT
dem-1052	147	7	replication	replication	NOUN
dem-1052	147	8	strategy	strategy	NOUN
dem-1052	147	9	for	for	ADP
dem-1052	147	10	the	the	DET
dem-1052	147	11	european	european	ADJ
dem-1052	147	12	option	option	NOUN
dem-1052	147	13	…	…	PUNCT
dem-1052	147	14	dynamic	dynamic	ADJ
dem-1052	147	15	econometric	econometric	ADJ
dem-1052	147	16	models	model	NOUN
dem-1052	147	17	12	12	NUM
dem-1052	147	18	(	(	PUNCT
dem-1052	147	19	2012	2012	NUM
dem-1052	147	20	)	)	PUNCT
dem-1052	147	21	53–71	53–71	NOUN
dem-1052	147	22	59	59	NUM
dem-1052	147	23	theorem	theorem	VERB
dem-1052	147	24	1	1	NUM
dem-1052	147	25	suggests	suggest	VERB
dem-1052	147	26	that	that	SCONJ
dem-1052	147	27	the	the	DET
dem-1052	147	28	strategy	strategy	NOUN
dem-1052	147	29	is	be	AUX
dem-1052	147	30	set	set	VERB
dem-1052	147	31	recursively	recursively	ADV
dem-1052	147	32	.	.	PUNCT
dem-1052	148	1	the	the	DET
dem-1052	148	2	problem	problem	NOUN
dem-1052	148	3	of	of	ADP
dem-1052	148	4	optimal	optimal	ADJ
dem-1052	148	5	replication	replication	NOUN
dem-1052	148	6	is	be	AUX
dem-1052	148	7	solved	solve	VERB
dem-1052	148	8	via	via	ADP
dem-1052	148	9	stochastic	stochastic	ADJ
dem-1052	148	10	dynamic	dynamic	ADJ
dem-1052	148	11	programming	programming	NOUN
dem-1052	148	12	.	.	PUNCT
dem-1052	149	1	the	the	DET
dem-1052	149	2	main	main	ADJ
dem-1052	149	3	results	result	NOUN
dem-1052	149	4	are	be	AUX
dem-1052	149	5	formulated	formulate	VERB
dem-1052	149	6	in	in	ADP
dem-1052	149	7	the	the	DET
dem-1052	149	8	theorem	theorem	NOUN
dem-1052	149	9	below	below	ADV
dem-1052	149	10	.	.	PUNCT
dem-1052	150	1	theorem	theorem	ADJ
dem-1052	150	2	2	2	NUM
dem-1052	150	3	(	(	PUNCT
dem-1052	150	4	bertsimas	bertsimas	PROPN
dem-1052	150	5	,	,	PUNCT
dem-1052	150	6	kogan	kogan	PROPN
dem-1052	150	7	,	,	PUNCT
dem-1052	150	8	lo	lo	PROPN
dem-1052	150	9	,	,	PUNCT
dem-1052	150	10	2001	2001	NUM
dem-1052	150	11	)	)	PUNCT
dem-1052	150	12	under	under	ADP
dem-1052	150	13	the	the	DET
dem-1052	150	14	above	above	ADJ
dem-1052	150	15	assumptions	assumption	NOUN
dem-1052	150	16	:	:	PUNCT
dem-1052	150	17	1	1	X
dem-1052	150	18	.	.	X
dem-1052	150	19	there	there	PRON
dem-1052	150	20	are	be	VERB
dem-1052	150	21	functions	function	NOUN
dem-1052	150	22	:	:	PUNCT
dem-1052	150	23	(	(	PUNCT
dem-1052	150	24	)	)	PUNCT
dem-1052	150	25	ii	ii	PROPN
dem-1052	150	26	pa	pa	PROPN
dem-1052	150	27	,	,	PUNCT
dem-1052	150	28	(	(	PUNCT
dem-1052	150	29	)	)	PUNCT
dem-1052	150	30	ii	ii	NOUN
dem-1052	150	31	pb	pb	ADP
dem-1052	150	32	and	and	CCONJ
dem-1052	150	33	(	(	PUNCT
dem-1052	150	34	)	)	PUNCT
dem-1052	150	35	ipc	ipc	PROPN
dem-1052	150	36	,	,	PUNCT
dem-1052	150	37	such	such	ADJ
dem-1052	150	38	that	that	SCONJ
dem-1052	150	39	:	:	PUNCT
dem-1052	150	40	(	(	PUNCT
dem-1052	150	41	)	)	PUNCT
dem-1052	150	42	(	(	PUNCT
dem-1052	150	43	)	)	PUNCT
dem-1052	150	44	(	(	PUNCT
dem-1052	150	45	)	)	PUNCT
dem-1052	150	46	[	[	PUNCT
dem-1052	150	47	]	]	X
dem-1052	150	48	(	(	PUNCT
dem-1052	150	49	)	)	PUNCT
dem-1052	150	50	iiiiiiiiii	iiiiiiiiii	NOUN
dem-1052	150	51	pcpbvpapvj	pcpbvpapvj	NOUN
dem-1052	150	52	+	+	CCONJ
dem-1052	150	53	−−	−−	NOUN
dem-1052	150	54	2	2	NUM
dem-1052	150	55	,	,	PUNCT
dem-1052	150	56	,	,	PUNCT
dem-1052	150	57	.,	.,	NUM
dem-1052	150	58	...	...	SYM
dem-1052	150	59	,0	,0	PUNCT
dem-1052	150	60	ni	ni	PROPN
dem-1052	150	61	=	=	PROPN
dem-1052	150	62	2	2	PROPN
dem-1052	150	63	.	.	PUNCT
dem-1052	150	64	(	(	PUNCT
dem-1052	150	65	)	)	PUNCT
dem-1052	150	66	(	(	PUNCT
dem-1052	150	67	)	)	PUNCT
dem-1052	150	68	(	(	PUNCT
dem-1052	150	69	)	)	PUNCT
dem-1052	150	70	iiiiiii	iiiiiii	PROPN
dem-1052	150	71	pqvpppvi	pqvpppvi	PROPN
dem-1052	150	72	−=∗	−=∗	NOUN
dem-1052	150	73	,	,	PUNCT
dem-1052	150	74	,	,	PUNCT
dem-1052	150	75	θ	θ	PROPN
dem-1052	150	76	,	,	PUNCT
dem-1052	150	77	where	where	SCONJ
dem-1052	150	78	functions	function	NOUN
dem-1052	150	79	ia	ia	PROPN
dem-1052	150	80	,	,	PUNCT
dem-1052	150	81	ib	ib	INTJ
dem-1052	150	82	,	,	PUNCT
dem-1052	150	83	ic	ic	PROPN
dem-1052	150	84	,	,	PUNCT
dem-1052	150	85	ip	ip	NOUN
dem-1052	150	86	and	and	CCONJ
dem-1052	150	87	iq	iq	PROPN
dem-1052	150	88	are	be	AUX
dem-1052	150	89	evaluated	evaluate	VERB
dem-1052	150	90	recursively	recursively	ADV
dem-1052	150	91	.	.	PUNCT
dem-1052	151	1	starting	start	VERB
dem-1052	151	2	with	with	ADP
dem-1052	151	3	1	1	NUM
dem-1052	151	4	)	)	PUNCT
dem-1052	151	5	(	(	PUNCT
dem-1052	151	6	=	=	NOUN
dem-1052	151	7	nn	nn	X
dem-1052	151	8	pa	pa	PROPN
dem-1052	151	9	,	,	PUNCT
dem-1052	151	10	)	)	PUNCT
dem-1052	151	11	(	(	PUNCT
dem-1052	151	12	)	)	PUNCT
dem-1052	151	13	(	(	PUNCT
dem-1052	151	14	nnn	nnn	NOUN
dem-1052	151	15	pfpb	pfpb	NOUN
dem-1052	151	16	=	=	PUNCT
dem-1052	151	17	,	,	PUNCT
dem-1052	151	18	0	0	NUM
dem-1052	151	19	)	)	PUNCT
dem-1052	151	20	(	(	PUNCT
dem-1052	151	21	=	=	NOUN
dem-1052	151	22	nn	nn	X
dem-1052	151	23	pc	pc	NOUN
dem-1052	151	24	,	,	PUNCT
dem-1052	151	25	the	the	DET
dem-1052	151	26	calculations	calculation	NOUN
dem-1052	151	27	for	for	ADP
dem-1052	151	28	0,	0,	NUM
dem-1052	151	29	...	...	PUNCT
dem-1052	151	30	,1−=	,1−=	PUNCT
dem-1052	151	31	ni	ni	PROPN
dem-1052	151	32	proceed	proceed	VERB
dem-1052	151	33	as	as	SCONJ
dem-1052	151	34	follows	follow	VERB
dem-1052	151	35	:	:	PUNCT
dem-1052	151	36	(	(	PUNCT
dem-1052	151	37	)	)	PUNCT
dem-1052	151	38	(	(	PUNCT
dem-1052	151	39	)	)	PUNCT
dem-1052	151	40	(	(	PUNCT
dem-1052	151	41	)	)	PUNCT
dem-1052	151	42	(	(	PUNCT
dem-1052	151	43	)	)	PUNCT
dem-1052	151	44	[	[	PUNCT
dem-1052	151	45	]	]	X
dem-1052	151	46	(	(	PUNCT
dem-1052	151	47	)	)	PUNCT
dem-1052	151	48	(	(	PUNCT
dem-1052	151	49	)	)	PUNCT
dem-1052	151	50	[	[	PUNCT
dem-1052	151	51	]	]	X
dem-1052	151	52	,	,	PUNCT
dem-1052	151	53	2	2	NUM
dem-1052	151	54	111	111	NUM
dem-1052	151	55	11111	11111	NUM
dem-1052	151	56	iiiii	iiiii	NOUN
dem-1052	151	57	iiiiiii	iiiiiii	PROPN
dem-1052	152	1	ppppae	ppppae	PROPN
dem-1052	152	2	ppppbpae	ppppbpae	PROPN
dem-1052	152	3	ii	ii	PROPN
dem-1052	153	1	pp	pp	ADV
dem-1052	153	2	−⋅	−⋅	ADV
dem-1052	153	3	−⋅⋅	−⋅⋅	PUNCT
dem-1052	154	1	+	+	PUNCT
dem-1052	154	2	+	+	PROPN
dem-1052	154	3	+	+	ADJ
dem-1052	154	4	+	+	ADJ
dem-1052	154	5	+	+	ADJ
dem-1052	154	6	+	+	ADJ
dem-1052	154	7	+	+	ADJ
dem-1052	154	8	+	+	NOUN
dem-1052	154	9	=	=	X
dem-1052	154	10	(	(	PUNCT
dem-1052	154	11	)	)	PUNCT
dem-1052	154	12	(	(	PUNCT
dem-1052	154	13	)	)	PUNCT
dem-1052	154	14	(	(	PUNCT
dem-1052	154	15	)	)	PUNCT
dem-1052	154	16	[	[	PUNCT
dem-1052	154	17	]	]	X
dem-1052	154	18	(	(	PUNCT
dem-1052	154	19	)	)	PUNCT
dem-1052	154	20	(	(	PUNCT
dem-1052	154	21	)	)	PUNCT
dem-1052	154	22	[	[	PUNCT
dem-1052	154	23	]	]	X
dem-1052	154	24	,	,	PUNCT
dem-1052	154	25	2	2	NUM
dem-1052	154	26	111	111	NUM
dem-1052	154	27	111	111	NUM
dem-1052	154	28	iiiii	iiiii	NOUN
dem-1052	154	29	iiiii	iiiii	NOUN
dem-1052	154	30	ppppae	ppppae	NOUN
dem-1052	154	31	ppppae	ppppae	PROPN
dem-1052	154	32	ii	ii	PROPN
dem-1052	155	1	pq	pq	INTJ
dem-1052	156	1	−⋅	−⋅	ADV
dem-1052	156	2	−⋅	−⋅	ADV
dem-1052	157	1	+	+	PUNCT
dem-1052	157	2	+	+	ADJ
dem-1052	157	3	+	+	ADJ
dem-1052	157	4	+	+	ADJ
dem-1052	157	5	+	+	ADJ
dem-1052	157	6	+	+	NOUN
dem-1052	157	7	=	=	X
dem-1052	157	8	(	(	PUNCT
dem-1052	157	9	)	)	PUNCT
dem-1052	157	10	(	(	PUNCT
dem-1052	157	11	)	)	PUNCT
dem-1052	157	12	(	(	PUNCT
dem-1052	157	13	)	)	PUNCT
dem-1052	157	14	(	(	PUNCT
dem-1052	157	15	)	)	PUNCT
dem-1052	157	16	(	(	PUNCT
dem-1052	157	17	)	)	PUNCT
dem-1052	157	18	]	]	X
dem-1052	157	19	,	,	PUNCT
dem-1052	157	20	1	1	X
dem-1052	157	21	[	[	SYM
dem-1052	157	22	2	2	NUM
dem-1052	157	23	111	111	NUM
dem-1052	157	24	iiiiiiiii	iiiiiiiii	NOUN
dem-1052	157	25	ppppqpaepa	ppppqpaepa	NOUN
dem-1052	157	26	−⋅−⋅=	−⋅−⋅=	PROPN
dem-1052	157	27	+	+	PROPN
dem-1052	157	28	+	+	PROPN
dem-1052	157	29	+	+	NUM
dem-1052	157	30	(	(	PUNCT
dem-1052	157	31	)	)	PUNCT
dem-1052	157	32	(	(	PUNCT
dem-1052	157	33	)	)	PUNCT
dem-1052	157	34	(	(	PUNCT
dem-1052	157	35	)	)	PUNCT
dem-1052	157	36	(	(	PUNCT
dem-1052	157	37	)	)	PUNCT
dem-1052	157	38	(	(	PUNCT
dem-1052	157	39	)	)	PUNCT
dem-1052	157	40	(	(	PUNCT
dem-1052	157	41	)	)	PUNCT
dem-1052	157	42	(	(	PUNCT
dem-1052	157	43	)	)	PUNCT
dem-1052	157	44	⋅−⋅−⋅⋅=	⋅−⋅−⋅⋅=	VERB
dem-1052	157	45	+	+	PROPN
dem-1052	157	46	+	+	ADJ
dem-1052	157	47	+	+	ADJ
dem-1052	157	48	+	+	ADJ
dem-1052	157	49	+	+	ADJ
dem-1052	157	50	iiiiiiiipaii	iiiiiiiipaii	PROPN
dem-1052	157	51	pppppbpaepb	pppppbpaepb	PROPN
dem-1052	157	52	ii	ii	PROPN
dem-1052	157	53	11111	11111	NUM
dem-1052	157	54	1	1	NUM
dem-1052	157	55	[	[	PUNCT
dem-1052	157	56	(	(	PUNCT
dem-1052	157	57	)	)	PUNCT
dem-1052	157	58	(	(	PUNCT
dem-1052	157	59	)	)	PUNCT
dem-1052	157	60	(	(	PUNCT
dem-1052	157	61	)	)	PUNCT
dem-1052	157	62	]	]	PUNCT
dem-1052	157	63	,	,	PUNCT
dem-1052	157	64	1	1	NUM
dem-1052	157	65	1	1	NUM
dem-1052	157	66	iiiii	iiiii	NOUN
dem-1052	157	67	ppppq	ppppq	VERB
dem-1052	157	68	−⋅−⋅	−⋅−⋅	X
dem-1052	158	1	+	+	CCONJ
dem-1052	158	2	(	(	PUNCT
dem-1052	158	3	)	)	PUNCT
dem-1052	158	4	(	(	PUNCT
dem-1052	158	5	)	)	PUNCT
dem-1052	158	6	(	(	PUNCT
dem-1052	158	7	)	)	PUNCT
dem-1052	158	8	(	(	PUNCT
dem-1052	158	9	)	)	PUNCT
dem-1052	159	1	(	(	PUNCT
dem-1052	159	2	)	)	PUNCT
dem-1052	159	3	(	(	PUNCT
dem-1052	159	4	)	)	PUNCT
dem-1052	160	1	+	+	ADP
dem-1052	160	2	−⋅−⋅=	−⋅−⋅=	NOUN
dem-1052	160	3	+	+	ADJ
dem-1052	160	4	+	+	ADJ
dem-1052	160	5	+	+	ADJ
dem-1052	160	6	+	+	ADJ
dem-1052	160	7	+	+	ADJ
dem-1052	160	8	]	]	X
dem-1052	160	9	[	[	PUNCT
dem-1052	160	10	2	2	NUM
dem-1052	160	11	11111	11111	NUM
dem-1052	160	12	iiiiiiiiiii	iiiiiiiiiii	NOUN
dem-1052	160	13	ppppppbpaepc	ppppppbpaepc	NOUN
dem-1052	160	14	(	(	PUNCT
dem-1052	160	15	)	)	PUNCT
dem-1052	160	16	(	(	PUNCT
dem-1052	160	17	)	)	PUNCT
dem-1052	160	18	(	(	PUNCT
dem-1052	160	19	)	)	PUNCT
dem-1052	160	20	.	.	PUNCT
dem-1052	160	21	]	]	X
dem-1052	161	1	[	[	X
dem-1052	161	2	]	]	X
dem-1052	161	3	[	[	PUNCT
dem-1052	161	4	2	2	NUM
dem-1052	161	5	11	11	NUM
dem-1052	161	6	iiiiiii	iiiiiii	NOUN
dem-1052	161	7	pbpappce	pbpappce	PROPN
dem-1052	161	8	⋅−+	⋅−+	X
dem-1052	162	1	+	+	PROPN
dem-1052	162	2	+	+	PROPN
dem-1052	162	3	3	3	NUM
dem-1052	162	4	.	.	PUNCT
dem-1052	163	1	(	(	PUNCT
dem-1052	163	2	)	)	PUNCT
dem-1052	163	3	0	0	X
dem-1052	163	4	>	>	SYM
dem-1052	163	5	ii	ii	X
dem-1052	163	6	pa	pa	PROPN
dem-1052	163	7	,	,	PUNCT
dem-1052	163	8	(	(	PUNCT
dem-1052	163	9	)	)	PUNCT
dem-1052	163	10	0≥ii	0≥ii	PROPN
dem-1052	163	11	pc	pc	NOUN
dem-1052	163	12	for	for	ADP
dem-1052	163	13	0,	0,	NUM
dem-1052	163	14	...	...	PUNCT
dem-1052	163	15	,1−=	,1−=	PUNCT
dem-1052	163	16	ni	ni	PROPN
dem-1052	163	17	.	.	PROPN
dem-1052	164	1	4	4	NUM
dem-1052	164	2	.	.	X
dem-1052	165	1	under	under	ADP
dem-1052	165	2	the	the	DET
dem-1052	165	3	optimal	optimal	ADJ
dem-1052	165	4	-	-	PUNCT
dem-1052	165	5	replication	replication	NOUN
dem-1052	165	6	strategy	strategy	NOUN
dem-1052	165	7	(	(	PUNCT
dem-1052	165	8	)	)	PUNCT
dem-1052	165	9	ii	ii	PROPN
dem-1052	165	10	pvi	pvi	NOUN
dem-1052	165	11	,	,	PUNCT
dem-1052	165	12	,	,	PUNCT
dem-1052	165	13	∗θ	∗θ	NOUN
dem-1052	165	14	we	we	PRON
dem-1052	165	15	obtain	obtain	VERB
dem-1052	165	16	:	:	PUNCT
dem-1052	165	17	(	(	PUNCT
dem-1052	165	18	)	)	PUNCT
dem-1052	165	19	(	(	PUNCT
dem-1052	165	20	)	)	PUNCT
dem-1052	165	21	(	(	PUNCT
dem-1052	165	22	)	)	PUNCT
dem-1052	165	23	[	[	PUNCT
dem-1052	165	24	]	]	X
dem-1052	165	25	(	(	PUNCT
dem-1052	165	26	)	)	PUNCT
dem-1052	165	27	,	,	PUNCT
dem-1052	165	28	,	,	PUNCT
dem-1052	165	29	00	00	NUM
dem-1052	165	30	2	2	NUM
dem-1052	165	31	00000000	00000000	NUM
dem-1052	165	32	pcpbvpapvj	pcpbvpapvj	NOUN
dem-1052	165	33	+	+	ADV
dem-1052	165	34	−=	−=	PUNCT
dem-1052	165	35	(	(	PUNCT
dem-1052	165	36	)	)	PUNCT
dem-1052	165	37	000	000	NUM
dem-1052	165	38	pbv	pbv	VERB
dem-1052	165	39	=	=	NOUN
dem-1052	165	40	∗	∗	NOUN
dem-1052	165	41	and	and	CCONJ
dem-1052	165	42	(	(	PUNCT
dem-1052	165	43	)	)	PUNCT
dem-1052	165	44	.00	.00	NUM
dem-1052	165	45	pc=∗ε	pc=∗ε	NOUN
dem-1052	165	46	properties	property	NOUN
dem-1052	165	47	(	(	PUNCT
dem-1052	165	48	bertsimas	bertsimas	PROPN
dem-1052	165	49	,	,	PUNCT
dem-1052	165	50	kogan	kogan	PROPN
dem-1052	165	51	,	,	PUNCT
dem-1052	165	52	lo	lo	PROPN
dem-1052	165	53	,	,	PUNCT
dem-1052	165	54	2001	2001	NUM
dem-1052	165	55	)	)	PUNCT
dem-1052	165	56	a	a	X
dem-1052	165	57	)	)	PUNCT
dem-1052	165	58	the	the	DET
dem-1052	165	59	error	error	NOUN
dem-1052	165	60	of	of	ADP
dem-1052	165	61	replication	replication	NOUN
dem-1052	165	62	(	(	PUNCT
dem-1052	165	63	)	)	PUNCT
dem-1052	165	64	00	00	PUNCT
dem-1052	165	65	pc=∗ε	pc=∗ε	ADV
dem-1052	165	66	is	be	AUX
dem-1052	165	67	the	the	DET
dem-1052	165	68	same	same	ADJ
dem-1052	165	69	for	for	ADP
dem-1052	165	70	put	put	VERB
dem-1052	165	71	and	and	CCONJ
dem-1052	165	72	call	call	VERB
dem-1052	165	73	options	option	NOUN
dem-1052	165	74	.	.	PUNCT
dem-1052	166	1	b	b	X
dem-1052	166	2	)	)	PUNCT
dem-1052	166	3	if	if	SCONJ
dem-1052	166	4	prices	price	NOUN
dem-1052	166	5	tp	tp	PART
dem-1052	166	6	follow	follow	VERB
dem-1052	166	7	a	a	DET
dem-1052	166	8	geometric	geometric	ADJ
dem-1052	166	9	brownian	brownian	ADJ
dem-1052	166	10	motion	motion	NOUN
dem-1052	166	11	and	and	CCONJ
dem-1052	166	12	∞→n	∞→n	PROPN
dem-1052	166	13	,	,	PUNCT
dem-1052	166	14	then	then	ADV
dem-1052	166	15	the	the	DET
dem-1052	166	16	cost	cost	NOUN
dem-1052	166	17	∗	∗	NOUN
dem-1052	166	18	0v	0v	NOUN
dem-1052	166	19	of	of	ADP
dem-1052	166	20	the	the	DET
dem-1052	166	21	optimal	optimal	ADJ
dem-1052	166	22	-	-	PUNCT
dem-1052	166	23	replication	replication	NOUN
dem-1052	166	24	strategy	strategy	NOUN
dem-1052	166	25	converges	converge	VERB
dem-1052	166	26	to	to	ADP
dem-1052	166	27	the	the	DET
dem-1052	166	28	black	black	ADJ
dem-1052	166	29	-	-	PUNCT
dem-1052	166	30	scholes	schole	NOUN
dem-1052	166	31	price	price	NOUN
dem-1052	166	32	.	.	PUNCT
dem-1052	167	1	c	c	X
dem-1052	167	2	)	)	PUNCT
dem-1052	167	3	(	(	PUNCT
dem-1052	167	4	)	)	PUNCT
dem-1052	167	5	00	00	PUNCT
dem-1052	168	1	pb	pb	ADP
dem-1052	168	2	meets	meet	VERB
dem-1052	168	3	the	the	DET
dem-1052	168	4	put	put	NOUN
dem-1052	168	5	-	-	PUNCT
dem-1052	168	6	call	call	NOUN
dem-1052	168	7	parity	parity	NOUN
dem-1052	168	8	.	.	PUNCT
dem-1052	169	1	d	d	X
dem-1052	169	2	)	)	PUNCT
dem-1052	169	3	(	(	PUNCT
dem-1052	169	4	)	)	PUNCT
dem-1052	169	5	ii	ii	NOUN
dem-1052	169	6	pvi	pvi	NOUN
dem-1052	169	7	,	,	PUNCT
dem-1052	169	8	,	,	PUNCT
dem-1052	169	9	∗θ	∗θ	NOUN
dem-1052	169	10	is	be	AUX
dem-1052	169	11	the	the	DET
dem-1052	169	12	self	self	NOUN
dem-1052	169	13	-	-	PUNCT
dem-1052	169	14	financing	financing	NOUN
dem-1052	169	15	strategy	strategy	NOUN
dem-1052	169	16	which	which	PRON
dem-1052	169	17	does	do	AUX
dem-1052	169	18	not	not	PART
dem-1052	169	19	guarantee	guarantee	VERB
dem-1052	169	20	0≥∗	0≥∗	PUNCT
dem-1052	169	21	iv	iv	NOUN
dem-1052	169	22	.	.	PUNCT
dem-1052	170	1	e	e	X
dem-1052	170	2	)	)	PUNCT
dem-1052	170	3	the	the	DET
dem-1052	170	4	value	value	NOUN
dem-1052	170	5	of	of	ADP
dem-1052	170	6	the	the	DET
dem-1052	170	7	optimal	optimal	ADJ
dem-1052	170	8	-	-	PUNCT
dem-1052	170	9	replication	replication	NOUN
dem-1052	170	10	strategy	strategy	NOUN
dem-1052	170	11	could	could	AUX
dem-1052	170	12	be	be	AUX
dem-1052	170	13	lower	low	ADJ
dem-1052	170	14	or	or	CCONJ
dem-1052	170	15	higher	high	ADJ
dem-1052	170	16	at	at	ADP
dem-1052	170	17	maturity	maturity	NOUN
dem-1052	170	18	t	t	NOUN
dem-1052	170	19	than	than	ADP
dem-1052	170	20	the	the	DET
dem-1052	170	21	value	value	NOUN
dem-1052	170	22	of	of	ADP
dem-1052	170	23	the	the	DET
dem-1052	170	24	payoff	payoff	NOUN
dem-1052	170	25	function	function	NOUN
dem-1052	170	26	.	.	PUNCT
dem-1052	171	1	maciej	maciej	PROPN
dem-1052	171	2	kostrzewski	kostrzewski	PROPN
dem-1052	171	3	dynamic	dynamic	ADJ
dem-1052	171	4	econometric	econometric	ADJ
dem-1052	171	5	models	model	NOUN
dem-1052	171	6	12	12	NUM
dem-1052	171	7	(	(	PUNCT
dem-1052	171	8	2012	2012	NUM
dem-1052	171	9	)	)	PUNCT
dem-1052	171	10	53–71	53–71	NOUN
dem-1052	171	11	60	60	NUM
dem-1052	171	12	the	the	DET
dem-1052	171	13	optimal	optimal	ADJ
dem-1052	171	14	-	-	PUNCT
dem-1052	171	15	replication	replication	NOUN
dem-1052	171	16	strategy	strategy	NOUN
dem-1052	171	17	could	could	AUX
dem-1052	171	18	be	be	AUX
dem-1052	171	19	less	less	ADV
dem-1052	171	20	or	or	CCONJ
dem-1052	171	21	more	more	ADV
dem-1052	171	22	attractive	attractive	ADJ
dem-1052	171	23	than	than	ADP
dem-1052	171	24	other	other	ADJ
dem-1052	171	25	strategies	strategy	NOUN
dem-1052	171	26	,	,	PUNCT
dem-1052	171	27	e.g.	e.g.	ADV
dem-1052	171	28	the	the	DET
dem-1052	171	29	delta	delta	NOUN
dem-1052	171	30	-	-	PUNCT
dem-1052	171	31	hedging	hedge	VERB
dem-1052	171	32	strategy	strategy	NOUN
dem-1052	171	33	.	.	PUNCT
dem-1052	172	1	it	it	PRON
dem-1052	172	2	is	be	AUX
dem-1052	172	3	because	because	SCONJ
dem-1052	172	4	the	the	DET
dem-1052	172	5	optimal	optimal	ADJ
dem-1052	172	6	-	-	PUNCT
dem-1052	172	7	replication	replication	NOUN
dem-1052	172	8	strategy	strategy	NOUN
dem-1052	172	9	is	be	AUX
dem-1052	172	10	optimal	optimal	ADJ
dem-1052	172	11	only	only	ADV
dem-1052	172	12	in	in	ADP
dem-1052	172	13	the	the	DET
dem-1052	172	14	mean	mean	ADJ
dem-1052	172	15	-	-	PUNCT
dem-1052	172	16	squared	square	VERB
dem-1052	172	17	-	-	PUNCT
dem-1052	172	18	error	error	NOUN
dem-1052	172	19	sense	sense	NOUN
dem-1052	172	20	.	.	PUNCT
dem-1052	173	1	in	in	ADP
dem-1052	173	2	general	general	ADJ
dem-1052	173	3	,	,	PUNCT
dem-1052	173	4	calculation	calculation	NOUN
dem-1052	173	5	of	of	ADP
dem-1052	173	6	expectations	expectation	NOUN
dem-1052	173	7	defined	define	VERB
dem-1052	173	8	in	in	ADP
dem-1052	173	9	theorem	theorem	ADJ
dem-1052	173	10	2	2	NUM
dem-1052	173	11	may	may	AUX
dem-1052	173	12	not	not	PART
dem-1052	173	13	be	be	AUX
dem-1052	173	14	straightforward	straightforward	ADJ
dem-1052	173	15	.	.	PUNCT
dem-1052	174	1	in	in	ADP
dem-1052	174	2	the	the	DET
dem-1052	174	3	case	case	NOUN
dem-1052	174	4	of	of	ADP
dem-1052	174	5	the	the	DET
dem-1052	174	6	jd(m)j	jd(m)j	PROPN
dem-1052	174	7	models	model	NOUN
dem-1052	174	8	numerical	numerical	ADJ
dem-1052	174	9	techniques	technique	NOUN
dem-1052	174	10	should	should	AUX
dem-1052	174	11	be	be	AUX
dem-1052	174	12	employed	employ	VERB
dem-1052	174	13	to	to	PART
dem-1052	174	14	approximate	approximate	VERB
dem-1052	174	15	their	their	PRON
dem-1052	174	16	values	value	NOUN
dem-1052	174	17	.	.	PUNCT
dem-1052	175	1	to	to	PART
dem-1052	175	2	calculate	calculate	VERB
dem-1052	175	3	the	the	DET
dem-1052	175	4	cost	cost	NOUN
dem-1052	175	5	of	of	ADP
dem-1052	175	6	the	the	DET
dem-1052	175	7	optimal	optimal	ADJ
dem-1052	175	8	-	-	PUNCT
dem-1052	175	9	replication	replication	NOUN
dem-1052	175	10	strategy	strategy	NOUN
dem-1052	175	11	*	*	PUNCT
dem-1052	175	12	0v	0v	NOUN
dem-1052	175	13	and	and	CCONJ
dem-1052	175	14	the	the	DET
dem-1052	175	15	relative	relative	ADJ
dem-1052	175	16	measure	measure	NOUN
dem-1052	175	17	of	of	ADP
dem-1052	175	18	market	market	NOUN
dem-1052	175	19	incompleteness	incompleteness	NOUN
dem-1052	175	20	∗ε	∗ε	ADP
dem-1052	175	21	the	the	DET
dem-1052	175	22	conditional	conditional	ADJ
dem-1052	175	23	expectations	expectation	NOUN
dem-1052	175	24	defined	define	VERB
dem-1052	175	25	in	in	ADP
dem-1052	175	26	theorem	theorem	ADJ
dem-1052	175	27	2	2	NUM
dem-1052	175	28	need	need	VERB
dem-1052	175	29	to	to	PART
dem-1052	175	30	be	be	AUX
dem-1052	175	31	evaluated	evaluate	VERB
dem-1052	175	32	.	.	PUNCT
dem-1052	176	1	obviously	obviously	ADV
dem-1052	176	2	,	,	PUNCT
dem-1052	176	3	these	these	PRON
dem-1052	176	4	are	be	AUX
dem-1052	176	5	given	give	VERB
dem-1052	176	6	by	by	ADP
dem-1052	176	7	relevant	relevant	ADJ
dem-1052	176	8	integrals	integral	NOUN
dem-1052	176	9	,	,	PUNCT
dem-1052	176	10	as	as	ADP
dem-1052	176	11	for	for	ADP
dem-1052	176	12	instance	instance	NOUN
dem-1052	176	13	:	:	PUNCT
dem-1052	176	14	(	(	PUNCT
dem-1052	176	15	)	)	PUNCT
dem-1052	176	16	(	(	PUNCT
dem-1052	176	17	)	)	PUNCT
dem-1052	176	18	[	[	PUNCT
dem-1052	176	19	]=	]=	X
dem-1052	176	20	−⋅	−⋅	X
dem-1052	176	21	+	+	ADJ
dem-1052	176	22	+	+	ADJ
dem-1052	176	23	+	+	ADJ
dem-1052	176	24	iiiii	iiiii	NOUN
dem-1052	176	25	ppppae	ppppae	NOUN
dem-1052	176	26	111	111	NUM
dem-1052	176	27	(	(	PUNCT
dem-1052	176	28	)	)	PUNCT
dem-1052	176	29	(	(	PUNCT
dem-1052	176	30	)	)	PUNCT
dem-1052	176	31	(	(	PUNCT
dem-1052	176	32	)	)	PUNCT
dem-1052	176	33	(	(	PUNCT
dem-1052	176	34	)	)	PUNCT
dem-1052	176	35	(	(	PUNCT
dem-1052	176	36	)	)	PUNCT
dem-1052	176	37	=	=	NOUN
dem-1052	176	38	⋅−⋅∫=	⋅−⋅∫=	NOUN
dem-1052	176	39	+	+	CCONJ
dem-1052	176	40	∞	∞	NUM
dem-1052	176	41	∞−	∞−	PROPN
dem-1052	176	42	dxpxppxpxpa	dxpxppxpxpa	NOUN
dem-1052	176	43	iiiii	iiiii	NOUN
dem-1052	176	44	expexp1	expexp1	NOUN
dem-1052	176	45	(	(	PUNCT
dem-1052	176	46	)	)	PUNCT
dem-1052	176	47	(	(	PUNCT
dem-1052	176	48	)	)	PUNCT
dem-1052	176	49	(	(	PUNCT
dem-1052	176	50	)	)	PUNCT
dem-1052	176	51	(	(	PUNCT
dem-1052	176	52	)	)	PUNCT
dem-1052	176	53	(	(	PUNCT
dem-1052	176	54	)	)	PUNCT
dem-1052	176	55	,	,	PUNCT
dem-1052	176	56	2	2	NUM
dem-1052	176	57	1	1	NUM
dem-1052	176	58	exp	exp	NOUN
dem-1052	176	59	2exp2exp	2exp2exp	NUM
dem-1052	176	60	0	0	NUM
dem-1052	176	61	dy	dy	NOUN
dem-1052	176	62	y	y	PROPN
dem-1052	176	63	pympympaw	pympympaw	PROPN
dem-1052	176	64	m	m	PROPN
dem-1052	176	65	k	k	PROPN
dem-1052	176	66	ikkikkiik	ikkikkiik	PROPN
dem-1052	176	67	−+⋅+∞	−+⋅+∞	PUNCT
dem-1052	176	68	∞−	∞−	X
dem-1052	176	69	=	=	PUNCT
dem-1052	176	70	+	+	NUM
dem-1052	176	71	∫=	∫=	PROPN
dem-1052	176	72	∑	∑	PUNCT
dem-1052	176	73	σσ	σσ	ADP
dem-1052	176	74	π	π	PROPN
dem-1052	176	75	where	where	SCONJ
dem-1052	176	76	(	(	PUNCT
dem-1052	176	77	)	)	PUNCT
dem-1052	176	78	(	(	PUNCT
dem-1052	176	79	)	)	PUNCT
dem-1052	176	80	[	[	PUNCT
dem-1052	176	81	]	]	X
dem-1052	176	82	1	1	NUM
dem-1052	176	83	!	!	SYM
dem-1052	176	84	0	0	NUM
dem-1052	176	85	!	!	PUNCT
dem-1052	177	1	−	−	NOUN
dem-1052	178	1	∆	∆	X
dem-1052	178	2	=	=	NOUN
dem-1052	178	3	∆	∆	PROPN
dem-1052	178	4	∑=	∑=	X
dem-1052	179	1	j	j	PROPN
dem-1052	179	2	m	m	VERB
dem-1052	179	3	jkk	jkk	PROPN
dem-1052	179	4	jk	jk	PROPN
dem-1052	179	5	w	w	PROPN
dem-1052	179	6	λλ	λλ	PROPN
dem-1052	179	7	,	,	PUNCT
dem-1052	179	8	(	(	PUNCT
dem-1052	179	9	)	)	PUNCT
dem-1052	179	10	km	km	NOUN
dem-1052	179	11	qk	qk	ADP
dem-1052	179	12	µσµ	µσµ	NOUN
dem-1052	180	1	+	+	PROPN
dem-1052	180	2	∆−=	∆−=	PROPN
dem-1052	180	3	2	2	NUM
dem-1052	180	4	2	2	NUM
dem-1052	180	5	1	1	NUM
dem-1052	180	6	and	and	CCONJ
dem-1052	180	7	kqk	kqk	VERB
dem-1052	180	8	222	222	NUM
dem-1052	180	9	σσσ	σσσ	NOUN
dem-1052	180	10	+	+	NOUN
dem-1052	180	11	∆=	∆=	ADJ
dem-1052	180	12	.	.	PUNCT
dem-1052	181	1	analytical	analytical	ADJ
dem-1052	181	2	calculations	calculation	NOUN
dem-1052	181	3	of	of	ADP
dem-1052	181	4	such	such	ADJ
dem-1052	181	5	formulae	formulae	NOUN
dem-1052	181	6	are	be	AUX
dem-1052	181	7	difficult	difficult	ADJ
dem-1052	181	8	or	or	CCONJ
dem-1052	181	9	positively	positively	ADV
dem-1052	181	10	impossible	impossible	ADJ
dem-1052	181	11	,	,	PUNCT
dem-1052	181	12	which	which	PRON
dem-1052	181	13	is	be	AUX
dem-1052	181	14	why	why	SCONJ
dem-1052	181	15	numerical	numerical	ADJ
dem-1052	181	16	approximations	approximation	NOUN
dem-1052	181	17	,	,	PUNCT
dem-1052	181	18	such	such	ADJ
dem-1052	181	19	as	as	ADP
dem-1052	181	20	the	the	DET
dem-1052	181	21	piecewise	piecewise	NOUN
dem-1052	181	22	cubic	cubic	ADJ
dem-1052	181	23	hermite	hermite	ADJ
dem-1052	181	24	interpolation	interpolation	NOUN
dem-1052	181	25	and	and	CCONJ
dem-1052	181	26	gauss	gauss	ADJ
dem-1052	181	27	-	-	PUNCT
dem-1052	181	28	hermit	hermit	NOUN
dem-1052	181	29	quadrature	quadrature	NOUN
dem-1052	181	30	,	,	PUNCT
dem-1052	181	31	are	be	AUX
dem-1052	181	32	utilized	utilize	VERB
dem-1052	181	33	.	.	PUNCT
dem-1052	182	1	all	all	DET
dem-1052	182	2	numerical	numerical	ADJ
dem-1052	182	3	calculations	calculation	NOUN
dem-1052	182	4	are	be	AUX
dem-1052	182	5	carried	carry	VERB
dem-1052	182	6	out	out	ADP
dem-1052	182	7	in	in	ADP
dem-1052	182	8	r	r	NOUN
dem-1052	182	9	using	use	VERB
dem-1052	182	10	the	the	DET
dem-1052	182	11	pracma	pracma	NOUN
dem-1052	182	12	and	and	CCONJ
dem-1052	182	13	glmmml	glmmml	NOUN
dem-1052	182	14	packages	package	NOUN
dem-1052	182	15	.	.	PUNCT
dem-1052	183	1	4	4	X
dem-1052	183	2	.	.	X
dem-1052	183	3	empirical	empirical	ADJ
dem-1052	183	4	studies	study	NOUN
dem-1052	183	5	in	in	ADP
dem-1052	183	6	this	this	DET
dem-1052	183	7	section	section	NOUN
dem-1052	183	8	we	we	PRON
dem-1052	183	9	present	present	VERB
dem-1052	183	10	the	the	DET
dem-1052	183	11	results	result	NOUN
dem-1052	183	12	of	of	ADP
dem-1052	183	13	bayesian	bayesian	NOUN
dem-1052	183	14	estimation	estimation	NOUN
dem-1052	183	15	,	,	PUNCT
dem-1052	183	16	model	model	NOUN
dem-1052	183	17	comparison	comparison	NOUN
dem-1052	183	18	and	and	CCONJ
dem-1052	183	19	pricing	pricing	NOUN
dem-1052	183	20	of	of	ADP
dem-1052	183	21	the	the	DET
dem-1052	183	22	optimal	optimal	ADJ
dem-1052	183	23	-	-	PUNCT
dem-1052	183	24	replication	replication	NOUN
dem-1052	183	25	strategy	strategy	NOUN
dem-1052	183	26	.	.	PUNCT
dem-1052	184	1	the	the	DET
dem-1052	184	2	calculations	calculation	NOUN
dem-1052	184	3	are	be	AUX
dem-1052	184	4	performed	perform	VERB
dem-1052	184	5	for	for	SCONJ
dem-1052	184	6	two	two	NUM
dem-1052	184	7	stock	stock	NOUN
dem-1052	184	8	market	market	NOUN
dem-1052	184	9	indices	index	NOUN
dem-1052	184	10	wig20	wig20	VERB
dem-1052	184	11	and	and	CCONJ
dem-1052	184	12	s&p100	s&p100	NOUN
dem-1052	184	13	.	.	PUNCT
dem-1052	185	1	the	the	DET
dem-1052	185	2	wig20	wig20	PROPN
dem-1052	185	3	is	be	AUX
dem-1052	185	4	a	a	DET
dem-1052	185	5	stock	stock	NOUN
dem-1052	185	6	market	market	NOUN
dem-1052	185	7	index	index	NOUN
dem-1052	185	8	comprising	comprise	VERB
dem-1052	185	9	20	20	NUM
dem-1052	185	10	biggest	big	ADJ
dem-1052	185	11	and	and	CCONJ
dem-1052	185	12	most	most	ADV
dem-1052	185	13	liquid	liquid	ADJ
dem-1052	185	14	companies	company	NOUN
dem-1052	185	15	on	on	ADP
dem-1052	185	16	the	the	DET
dem-1052	185	17	warsaw	warsaw	PROPN
dem-1052	185	18	stock	stock	PROPN
dem-1052	185	19	exchange	exchange	PROPN
dem-1052	185	20	(	(	PUNCT
dem-1052	185	21	wse)2	wse)2	PROPN
dem-1052	185	22	.	.	PUNCT
dem-1052	186	1	the	the	DET
dem-1052	186	2	considered	consider	VERB
dem-1052	186	3	time	time	NOUN
dem-1052	186	4	series	series	PROPN
dem-1052	186	5	x	x	PROPN
dem-1052	186	6	consists	consist	VERB
dem-1052	186	7	of	of	ADP
dem-1052	186	8	946	946	NUM
dem-1052	186	9	daily	daily	ADJ
dem-1052	186	10	logarithmic	logarithmic	ADJ
dem-1052	186	11	rates	rate	NOUN
dem-1052	186	12	of	of	ADP
dem-1052	186	13	return	return	NOUN
dem-1052	186	14	on	on	ADP
dem-1052	186	15	the	the	DET
dem-1052	186	16	wig20	wig20	PROPN
dem-1052	186	17	index	index	NOUN
dem-1052	186	18	closing	closing	NOUN
dem-1052	186	19	quotations	quotation	NOUN
dem-1052	186	20	from	from	ADP
dem-1052	186	21	june	june	PROPN
dem-1052	186	22	5	5	NUM
dem-1052	186	23	,	,	PUNCT
dem-1052	186	24	2007	2007	NUM
dem-1052	186	25	to	to	ADP
dem-1052	186	26	march	march	PROPN
dem-1052	186	27	11	11	NUM
dem-1052	186	28	,	,	PUNCT
dem-1052	186	29	20113	20113	NUM
dem-1052	186	30	.	.	PUNCT
dem-1052	187	1	the	the	DET
dem-1052	187	2	s&p100	s&p100	ADJ
dem-1052	187	3	index	index	NOUN
dem-1052	187	4	includes	include	VERB
dem-1052	187	5	100	100	NUM
dem-1052	187	6	leading	lead	VERB
dem-1052	187	7	us	us	PROPN
dem-1052	187	8	stocks	stock	NOUN
dem-1052	187	9	recorded	record	VERB
dem-1052	187	10	by	by	ADP
dem-1052	187	11	standard	standard	PROPN
dem-1052	187	12	&	&	CCONJ
dem-1052	187	13	poor	poor	PROPN
dem-1052	187	14	’s	’s	PART
dem-1052	187	15	.	.	PUNCT
dem-1052	188	1	the	the	DET
dem-1052	188	2	considered	consider	VERB
dem-1052	188	3	data	datum	NOUN
dem-1052	188	4	x	x	PUNCT
dem-1052	188	5	contains	contain	VERB
dem-1052	188	6	1,077	1,077	NUM
dem-1052	188	7	daily	daily	ADJ
dem-1052	188	8	log	log	NOUN
dem-1052	188	9	-	-	PUNCT
dem-1052	188	10	returns	return	NOUN
dem-1052	188	11	on	on	ADP
dem-1052	188	12	the	the	DET
dem-1052	188	13	index	index	NOUN
dem-1052	188	14	over	over	ADP
dem-1052	188	15	a	a	DET
dem-1052	188	16	period	period	NOUN
dem-1052	188	17	from	from	ADP
dem-1052	188	18	april	april	PROPN
dem-1052	188	19	2	2	NUM
dem-1052	188	20	,	,	PUNCT
dem-1052	188	21	2007	2007	NUM
dem-1052	188	22	to	to	ADP
dem-1052	188	23	july	july	PROPN
dem-1052	188	24	8	8	NUM
dem-1052	188	25	,	,	PUNCT
dem-1052	188	26	20114	20114	NUM
dem-1052	188	27	.	.	PUNCT
dem-1052	189	1	daily	daily	ADJ
dem-1052	189	2	closing	closing	NOUN
dem-1052	189	3	quotations	quotation	NOUN
dem-1052	189	4	of	of	ADP
dem-1052	189	5	the	the	DET
dem-1052	189	6	wig20	wig20	PROPN
dem-1052	189	7	and	and	CCONJ
dem-1052	189	8	s&p100	s&p100	NOUN
dem-1052	189	9	indices	index	NOUN
dem-1052	189	10	are	be	AUX
dem-1052	189	11	presented	present	VERB
dem-1052	189	12	in	in	ADP
dem-1052	189	13	figure	figure	NOUN
dem-1052	189	14	1	1	NUM
dem-1052	189	15	,	,	PUNCT
dem-1052	189	16	whereas	whereas	SCONJ
dem-1052	189	17	figure	figure	NOUN
dem-1052	189	18	2	2	NUM
dem-1052	189	19	plots	plot	NOUN
dem-1052	189	20	the	the	DET
dem-1052	189	21	logarithmic	logarithmic	ADJ
dem-1052	189	22	rates	rate	NOUN
dem-1052	189	23	of	of	ADP
dem-1052	189	24	return	return	NOUN
dem-1052	189	25	.	.	PUNCT
dem-1052	190	1	2	2	NUM
dem-1052	190	2	www.gpw.pl	www.gpw.pl	NOUN
dem-1052	190	3	.	.	PROPN
dem-1052	191	1	3	3	NUM
dem-1052	191	2	the	the	DET
dem-1052	191	3	data	datum	NOUN
dem-1052	191	4	were	be	AUX
dem-1052	191	5	downloaded	download	VERB
dem-1052	191	6	from	from	ADP
dem-1052	191	7	www.gpwinfostrefa.pl	www.gpwinfostrefa.pl	PROPN
dem-1052	191	8	.	.	PUNCT
dem-1052	192	1	4	4	NUM
dem-1052	192	2	the	the	DET
dem-1052	192	3	data	datum	NOUN
dem-1052	192	4	were	be	AUX
dem-1052	192	5	downloaded	download	VERB
dem-1052	192	6	from	from	ADP
dem-1052	192	7	http://finance.yahoo.com/.	http://finance.yahoo.com/.	ADJ
dem-1052	192	8	bayesian	bayesian	NOUN
dem-1052	192	9	pricing	pricing	NOUN
dem-1052	192	10	of	of	ADP
dem-1052	192	11	the	the	DET
dem-1052	192	12	optimal	optimal	ADJ
dem-1052	192	13	-	-	PUNCT
dem-1052	192	14	replication	replication	NOUN
dem-1052	192	15	strategy	strategy	NOUN
dem-1052	192	16	for	for	ADP
dem-1052	192	17	the	the	DET
dem-1052	192	18	european	european	ADJ
dem-1052	192	19	option	option	NOUN
dem-1052	192	20	…	…	PUNCT
dem-1052	192	21	dynamic	dynamic	ADJ
dem-1052	192	22	econometric	econometric	ADJ
dem-1052	192	23	models	model	NOUN
dem-1052	192	24	12	12	NUM
dem-1052	192	25	(	(	PUNCT
dem-1052	192	26	2012	2012	NUM
dem-1052	192	27	)	)	PUNCT
dem-1052	192	28	53–71	53–71	NOUN
dem-1052	192	29	61	61	NUM
dem-1052	192	30	wig20	wig20	ADJ
dem-1052	192	31	s&p100	s&p100	NOUN
dem-1052	192	32	figure	figure	NOUN
dem-1052	192	33	1	1	NUM
dem-1052	192	34	.	.	PUNCT
dem-1052	192	35	daily	daily	ADJ
dem-1052	192	36	closing	closing	NOUN
dem-1052	192	37	quotations	quotation	NOUN
dem-1052	192	38	of	of	ADP
dem-1052	192	39	the	the	DET
dem-1052	192	40	wig20	wig20	PROPN
dem-1052	192	41	and	and	CCONJ
dem-1052	192	42	s&p100	s&p100	NOUN
dem-1052	192	43	indices	indice	VERB
dem-1052	192	44	the	the	DET
dem-1052	192	45	horizontal	horizontal	ADJ
dem-1052	192	46	lines	line	NOUN
dem-1052	192	47	present	present	VERB
dem-1052	192	48	bands	band	NOUN
dem-1052	192	49	of	of	ADP
dem-1052	192	50	plus	plus	CCONJ
dem-1052	192	51	/	/	SYM
dem-1052	192	52	minus	minus	CCONJ
dem-1052	192	53	two	two	NUM
dem-1052	192	54	or	or	CCONJ
dem-1052	192	55	three	three	NUM
dem-1052	192	56	standard	standard	ADJ
dem-1052	192	57	deviations	deviation	NOUN
dem-1052	192	58	(	(	PUNCT
dem-1052	192	59	dashed	dash	VERB
dem-1052	192	60	and	and	CCONJ
dem-1052	192	61	dotted	dotted	ADJ
dem-1052	192	62	lines	line	NOUN
dem-1052	192	63	,	,	PUNCT
dem-1052	192	64	respectively	respectively	ADV
dem-1052	192	65	)	)	PUNCT
dem-1052	192	66	.	.	PUNCT
dem-1052	193	1	wig20	wig20	VERB
dem-1052	193	2	s&p100	s&p100	NOUN
dem-1052	193	3	figure	figure	NOUN
dem-1052	193	4	2	2	NUM
dem-1052	193	5	.	.	PUNCT
dem-1052	193	6	daily	daily	ADJ
dem-1052	193	7	logarithmic	logarithmic	ADJ
dem-1052	193	8	rates	rate	NOUN
dem-1052	193	9	of	of	ADP
dem-1052	193	10	return	return	NOUN
dem-1052	193	11	on	on	ADP
dem-1052	193	12	the	the	DET
dem-1052	193	13	wig20	wig20	PROPN
dem-1052	193	14	and	and	CCONJ
dem-1052	193	15	s&p100	s&p100	NOUN
dem-1052	193	16	closing	closing	NOUN
dem-1052	193	17	quotations	quotation	NOUN
dem-1052	193	18	as	as	SCONJ
dem-1052	193	19	evidenced	evidence	VERB
dem-1052	193	20	in	in	ADP
dem-1052	193	21	figure	figure	NOUN
dem-1052	193	22	2	2	NUM
dem-1052	193	23	the	the	DET
dem-1052	193	24	outlying	outlying	ADJ
dem-1052	193	25	log	log	NOUN
dem-1052	193	26	-	-	PUNCT
dem-1052	193	27	returns	return	NOUN
dem-1052	193	28	on	on	ADP
dem-1052	193	29	the	the	DET
dem-1052	193	30	s&p100	s&p100	NOUN
dem-1052	193	31	index	index	NOUN
dem-1052	193	32	are	be	AUX
dem-1052	193	33	more	more	ADV
dem-1052	193	34	prominent	prominent	ADJ
dem-1052	193	35	than	than	ADP
dem-1052	193	36	the	the	DET
dem-1052	193	37	ones	one	NOUN
dem-1052	193	38	featured	feature	VERB
dem-1052	193	39	by	by	ADP
dem-1052	193	40	the	the	DET
dem-1052	193	41	wig20	wig20	PROPN
dem-1052	193	42	series	series	NOUN
dem-1052	193	43	,	,	PUNCT
dem-1052	193	44	which	which	PRON
dem-1052	193	45	may	may	AUX
dem-1052	193	46	hint	hint	VERB
dem-1052	193	47	at	at	ADP
dem-1052	193	48	the	the	DET
dem-1052	193	49	jump	jump	NOUN
dem-1052	193	50	component	component	NOUN
dem-1052	193	51	playing	play	VERB
dem-1052	193	52	a	a	DET
dem-1052	193	53	more	more	ADV
dem-1052	193	54	crucial	crucial	ADJ
dem-1052	193	55	role	role	NOUN
dem-1052	193	56	in	in	ADP
dem-1052	193	57	modeling	model	VERB
dem-1052	193	58	the	the	DET
dem-1052	193	59	former	former	ADJ
dem-1052	193	60	.	.	PROPN
dem-1052	194	1	4.1	4.1	NUM
dem-1052	194	2	.	.	PUNCT
dem-1052	195	1	wig20	wig20	VERB
dem-1052	195	2	it	it	PRON
dem-1052	195	3	is	be	AUX
dem-1052	195	4	assumed	assume	VERB
dem-1052	195	5	that	that	SCONJ
dem-1052	195	6	time	time	NOUN
dem-1052	195	7	interval	interval	NOUN
dem-1052	195	8	between	between	ADP
dem-1052	195	9	consecutive	consecutive	ADJ
dem-1052	195	10	observations	observation	NOUN
dem-1052	195	11	equals	equal	VERB
dem-1052	195	12	=	=	PRON
dem-1052	195	13	∆	∆	PROPN
dem-1052	195	14	1/252	1/252	NUM
dem-1052	195	15	.	.	PUNCT
dem-1052	196	1	for	for	ADP
dem-1052	196	2	the	the	DET
dem-1052	196	3	wig20	wig20	PROPN
dem-1052	196	4	series	series	NOUN
dem-1052	196	5	we	we	PRON
dem-1052	196	6	restrict	restrict	VERB
dem-1052	196	7	the	the	DET
dem-1052	196	8	analysis	analysis	NOUN
dem-1052	196	9	to	to	ADP
dem-1052	196	10	two	two	NUM
dem-1052	196	11	model	model	NOUN
dem-1052	196	12	specifications	specification	NOUN
dem-1052	196	13	:	:	PUNCT
dem-1052	196	14	jd(0)j	jd(0)j	PROPN
dem-1052	196	15	(	(	PUNCT
dem-1052	196	16	i.e.	i.e.	X
dem-1052	196	17	a	a	DET
dem-1052	196	18	pure	pure	ADJ
dem-1052	196	19	diffusion	diffusion	NOUN
dem-1052	196	20	process	process	NOUN
dem-1052	196	21	)	)	PUNCT
dem-1052	196	22	and	and	CCONJ
dem-1052	196	23	jd(1)j	jd(1)j	NOUN
dem-1052	196	24	(	(	PUNCT
dem-1052	196	25	i.e.	i.e.	X
dem-1052	196	26	the	the	DET
dem-1052	196	27	one	one	NOUN
dem-1052	196	28	allowing	allow	VERB
dem-1052	196	29	for	for	ADP
dem-1052	196	30	a	a	DET
dem-1052	196	31	single	single	ADJ
dem-1052	196	32	jump	jump	NOUN
dem-1052	196	33	over	over	ADP
dem-1052	196	34	a	a	DET
dem-1052	196	35	given	give	VERB
dem-1052	196	36	time	time	NOUN
dem-1052	196	37	interval	interval	NOUN
dem-1052	196	38	∆	∆	PROPN
dem-1052	196	39	)	)	PUNCT
dem-1052	196	40	.	.	PUNCT
dem-1052	197	1	maciej	maciej	PROPN
dem-1052	197	2	kostrzewski	kostrzewski	PROPN
dem-1052	197	3	dynamic	dynamic	ADJ
dem-1052	197	4	econometric	econometric	ADJ
dem-1052	197	5	models	model	NOUN
dem-1052	197	6	12	12	NUM
dem-1052	197	7	(	(	PUNCT
dem-1052	197	8	2012	2012	NUM
dem-1052	197	9	)	)	PUNCT
dem-1052	197	10	53–71	53–71	NOUN
dem-1052	197	11	62	62	NUM
dem-1052	197	12	4.1.1	4.1.1	NUM
dem-1052	197	13	.	.	PUNCT
dem-1052	198	1	general	general	ADJ
dem-1052	198	2	results	result	NOUN
dem-1052	198	3	table	table	NOUN
dem-1052	198	4	1	1	NUM
dem-1052	198	5	presents	present	NOUN
dem-1052	198	6	posterior	posterior	ADJ
dem-1052	198	7	means	mean	NOUN
dem-1052	198	8	and	and	CCONJ
dem-1052	198	9	standard	standard	ADJ
dem-1052	198	10	deviations	deviation	NOUN
dem-1052	198	11	(	(	PUNCT
dem-1052	198	12	in	in	ADP
dem-1052	198	13	parentheses	parenthesis	NOUN
dem-1052	198	14	)	)	PUNCT
dem-1052	198	15	of	of	ADP
dem-1052	198	16	the	the	DET
dem-1052	198	17	parameters	parameter	NOUN
dem-1052	198	18	.	.	PUNCT
dem-1052	199	1	the	the	DET
dem-1052	199	2	results	result	NOUN
dem-1052	199	3	are	be	AUX
dem-1052	199	4	based	base	VERB
dem-1052	199	5	on	on	ADP
dem-1052	199	6	600,000	600,000	NUM
dem-1052	199	7	and	and	CCONJ
dem-1052	199	8	1,000,000	1,000,000	NUM
dem-1052	199	9	draws	draw	NOUN
dem-1052	199	10	of	of	ADP
dem-1052	199	11	posterior	posterior	ADJ
dem-1052	199	12	distributions	distribution	NOUN
dem-1052	199	13	,	,	PUNCT
dem-1052	199	14	preceded	precede	VERB
dem-1052	199	15	by	by	ADP
dem-1052	199	16	10,000	10,000	NUM
dem-1052	199	17	and	and	CCONJ
dem-1052	199	18	300,000	300,000	NUM
dem-1052	199	19	burn	burn	NOUN
dem-1052	199	20	-	-	PUNCT
dem-1052	199	21	in	in	ADP
dem-1052	199	22	passes	pass	NOUN
dem-1052	199	23	for	for	ADP
dem-1052	199	24	m=0	m=0	PROPN
dem-1052	199	25	and	and	CCONJ
dem-1052	199	26	m=1	m=1	PROPN
dem-1052	199	27	,	,	PUNCT
dem-1052	199	28	respectively	respectively	ADV
dem-1052	199	29	.	.	PUNCT
dem-1052	200	1	the	the	DET
dem-1052	200	2	results	result	NOUN
dem-1052	200	3	of	of	ADP
dem-1052	200	4	the	the	DET
dem-1052	200	5	mcmc	mcmc	PROPN
dem-1052	200	6	sampler	sampler	NOUN
dem-1052	200	7	are	be	AUX
dem-1052	200	8	robust	robust	ADJ
dem-1052	200	9	to	to	ADP
dem-1052	200	10	the	the	DET
dem-1052	200	11	choice	choice	NOUN
dem-1052	200	12	of	of	ADP
dem-1052	200	13	the	the	DET
dem-1052	200	14	starting	starting	NOUN
dem-1052	200	15	points	point	NOUN
dem-1052	200	16	.	.	PUNCT
dem-1052	201	1	convergence	convergence	NOUN
dem-1052	201	2	of	of	ADP
dem-1052	201	3	the	the	DET
dem-1052	201	4	chains	chain	NOUN
dem-1052	201	5	is	be	AUX
dem-1052	201	6	confirmed	confirm	VERB
dem-1052	201	7	by	by	ADP
dem-1052	201	8	the	the	DET
dem-1052	201	9	cumsum	cumsum	NOUN
dem-1052	201	10	statistics	statistic	NOUN
dem-1052	201	11	(	(	PUNCT
dem-1052	201	12	yu	yu	PROPN
dem-1052	201	13	,	,	PUNCT
dem-1052	201	14	mykland	mykland	NOUN
dem-1052	201	15	,	,	PUNCT
dem-1052	201	16	1998	1998	NUM
dem-1052	201	17	)	)	PUNCT
dem-1052	201	18	,	,	PUNCT
dem-1052	201	19	as	as	ADV
dem-1052	201	20	well	well	ADV
dem-1052	201	21	as	as	ADP
dem-1052	201	22	the	the	DET
dem-1052	201	23	ergodic	ergodic	ADJ
dem-1052	201	24	means	mean	NOUN
dem-1052	201	25	and	and	CCONJ
dem-1052	201	26	standard	standard	ADJ
dem-1052	201	27	deviations	deviation	NOUN
dem-1052	201	28	plots	plot	NOUN
dem-1052	201	29	.	.	PUNCT
dem-1052	202	1	noteworthy	noteworthy	ADJ
dem-1052	202	2	,	,	PUNCT
dem-1052	202	3	posterior	posterior	ADJ
dem-1052	202	4	characteristics	characteristic	NOUN
dem-1052	202	5	of	of	ADP
dem-1052	202	6	the	the	DET
dem-1052	202	7	pure	pure	ADJ
dem-1052	202	8	diffusion	diffusion	NOUN
dem-1052	202	9	parameters	parameter	NOUN
dem-1052	202	10	,	,	PUNCT
dem-1052	202	11	i.e.	i.e.	X
dem-1052	202	12	µ	µ	NUM
dem-1052	202	13	and	and	CCONJ
dem-1052	202	14	2σ	2σ	NOUN
dem-1052	202	15	,	,	PUNCT
dem-1052	202	16	are	be	AUX
dem-1052	202	17	close	close	ADJ
dem-1052	202	18	to	to	ADP
dem-1052	202	19	their	their	PRON
dem-1052	202	20	jd(1)j	jd(1)j	NOUN
dem-1052	202	21	counterparts	counterpart	NOUN
dem-1052	202	22	,	,	PUNCT
dem-1052	202	23	which	which	PRON
dem-1052	202	24	may	may	AUX
dem-1052	202	25	hint	hint	VERB
dem-1052	202	26	at	at	ADP
dem-1052	202	27	there	there	PRON
dem-1052	202	28	being	be	AUX
dem-1052	202	29	no	no	DET
dem-1052	202	30	need	need	NOUN
dem-1052	202	31	for	for	SCONJ
dem-1052	202	32	jumps	jump	NOUN
dem-1052	202	33	to	to	PART
dem-1052	202	34	be	be	AUX
dem-1052	202	35	accounted	account	VERB
dem-1052	202	36	for	for	ADP
dem-1052	202	37	.	.	PUNCT
dem-1052	203	1	the	the	DET
dem-1052	203	2	conclusion	conclusion	NOUN
dem-1052	203	3	is	be	AUX
dem-1052	203	4	also	also	ADV
dem-1052	203	5	supported	support	VERB
dem-1052	203	6	by	by	ADP
dem-1052	203	7	the	the	DET
dem-1052	203	8	close	close	ADJ
dem-1052	203	9	to	to	ADP
dem-1052	203	10	zero	zero	NUM
dem-1052	203	11	posterior	posterior	ADJ
dem-1052	203	12	mean	mean	NOUN
dem-1052	203	13	of	of	ADP
dem-1052	203	14	the	the	DET
dem-1052	203	15	jump	jump	NOUN
dem-1052	203	16	intensity	intensity	NOUN
dem-1052	203	17	λ	λ	PROPN
dem-1052	203	18	,	,	PUNCT
dem-1052	203	19	accompanied	accompany	VERB
dem-1052	203	20	with	with	ADP
dem-1052	203	21	relatively	relatively	ADV
dem-1052	203	22	large	large	ADJ
dem-1052	203	23	posterior	posterior	ADJ
dem-1052	203	24	dispersion	dispersion	NOUN
dem-1052	203	25	of	of	ADP
dem-1052	203	26	the	the	DET
dem-1052	203	27	parameters	parameter	NOUN
dem-1052	203	28	table	table	VERB
dem-1052	203	29	1	1	NUM
dem-1052	203	30	.	.	PUNCT
dem-1052	203	31	posterior	posterior	ADJ
dem-1052	203	32	means	mean	NOUN
dem-1052	203	33	and	and	CCONJ
dem-1052	203	34	standard	standard	ADJ
dem-1052	203	35	deviations	deviation	NOUN
dem-1052	203	36	(	(	PUNCT
dem-1052	203	37	in	in	ADP
dem-1052	203	38	parentheses	parenthesis	NOUN
dem-1052	203	39	)	)	PUNCT
dem-1052	203	40	of	of	ADP
dem-1052	203	41	the	the	DET
dem-1052	203	42	parameters	parameter	NOUN
dem-1052	203	43	for	for	ADP
dem-1052	203	44	the	the	DET
dem-1052	203	45	wig20	wig20	PROPN
dem-1052	203	46	index	index	NOUN
dem-1052	203	47	parameters	parameter	NOUN
dem-1052	203	48	jd(0)j	jd(0)j	PROPN
dem-1052	203	49	jd(1)j	jd(1)j	PROPN
dem-1052	203	50	λ	λ	PROPN
dem-1052	203	51	–	–	PUNCT
dem-1052	203	52	0.0557	0.0557	NUM
dem-1052	203	53	(	(	PUNCT
dem-1052	203	54	0.3053	0.3053	NUM
dem-1052	203	55	)	)	PUNCT
dem-1052	203	56	µ	µ	NOUN
dem-1052	203	57	-0.0364	-0.0364	NOUN
dem-1052	203	58	(	(	PUNCT
dem-1052	203	59	0.1556	0.1556	NUM
dem-1052	203	60	)	)	PUNCT
dem-1052	203	61	-0.0346	-0.0346	NOUN
dem-1052	203	62	(	(	PUNCT
dem-1052	203	63	0.1545	0.1545	NUM
dem-1052	203	64	)	)	PUNCT
dem-1052	203	65	µq	µq	PROPN
dem-1052	203	66	–	–	PUNCT
dem-1052	203	67	0.0085	0.0085	NUM
dem-1052	203	68	(	(	PUNCT
dem-1052	203	69	0.9770	0.9770	NUM
dem-1052	203	70	)	)	PUNCT
dem-1052	203	71	σ2	σ2	NOUN
dem-1052	203	72	0.0917	0.0917	NUM
dem-1052	203	73	(	(	PUNCT
dem-1052	203	74	0.0042	0.0042	NUM
dem-1052	203	75	)	)	PUNCT
dem-1052	203	76	0.0919	0.0919	NUM
dem-1052	203	77	(	(	PUNCT
dem-1052	203	78	0.0044	0.0044	NUM
dem-1052	203	79	)	)	PUNCT
dem-1052	203	80	σ2	σ2	NOUN
dem-1052	203	81	q	q	PROPN
dem-1052	203	82	–	–	PUNCT
dem-1052	203	83	0.3520	0.3520	NUM
dem-1052	203	84	(	(	PUNCT
dem-1052	203	85	1.3100	1.3100	NUM
dem-1052	203	86	)	)	PUNCT
dem-1052	203	87	we	we	PRON
dem-1052	203	88	now	now	ADV
dem-1052	203	89	focus	focus	VERB
dem-1052	203	90	on	on	ADP
dem-1052	203	91	the	the	DET
dem-1052	203	92	choice	choice	NOUN
dem-1052	203	93	of	of	ADP
dem-1052	203	94	the	the	DET
dem-1052	203	95	appropriate	appropriate	ADJ
dem-1052	203	96	value	value	NOUN
dem-1052	203	97	of	of	ADP
dem-1052	203	98	m.	m.	NOUN
dem-1052	203	99	the	the	DET
dem-1052	203	100	model	model	NOUN
dem-1052	203	101	with	with	ADP
dem-1052	203	102	the	the	DET
dem-1052	203	103	highest	high	ADJ
dem-1052	203	104	posterior	posterior	ADJ
dem-1052	203	105	probability	probability	NOUN
dem-1052	203	106	is	be	AUX
dem-1052	203	107	referred	refer	VERB
dem-1052	203	108	to	to	ADP
dem-1052	203	109	as	as	ADP
dem-1052	203	110	the	the	DET
dem-1052	203	111	best	good	ADJ
dem-1052	203	112	one	one	NUM
dem-1052	203	113	.	.	PUNCT
dem-1052	204	1	the	the	DET
dem-1052	204	2	best	good	ADJ
dem-1052	204	3	model	model	NOUN
dem-1052	204	4	points	point	VERB
dem-1052	204	5	the	the	DET
dem-1052	204	6	value	value	NOUN
dem-1052	204	7	of	of	ADP
dem-1052	204	8	m.	m.	NOUN
dem-1052	204	9	we	we	PRON
dem-1052	204	10	have	have	VERB
dem-1052	204	11	to	to	PART
dem-1052	204	12	compare	compare	VERB
dem-1052	204	13	:	:	PUNCT
dem-1052	204	14	(	(	PUNCT
dem-1052	204	15	)	)	PUNCT
dem-1052	204	16	(	(	PUNCT
dem-1052	204	17	)	)	PUNCT
dem-1052	204	18	(	(	PUNCT
dem-1052	204	19	)	)	PUNCT
dem-1052	204	20	(	(	PUNCT
dem-1052	204	21	)	)	PUNCT
dem-1052	204	22	(	(	PUNCT
dem-1052	204	23	)	)	PUNCT
dem-1052	204	24	(	(	PUNCT
dem-1052	205	1	)	)	PUNCT
dem-1052	205	2	(	(	PUNCT
dem-1052	205	3	)	)	PUNCT
dem-1052	205	4	jjdxpjjdpjjdxpjjdp	jjdxpjjdpjjdxpjjdp	NOUN
dem-1052	205	5	jjdxpjjdp	jjdxpjjdp	NOUN
dem-1052	205	6	xjjdp	xjjdp	ADV
dem-1052	205	7	)	)	PUNCT
dem-1052	205	8	1()1()0()0	1()1()0()0	NUM
dem-1052	205	9	(	(	PUNCT
dem-1052	205	10	)	)	PUNCT
dem-1052	205	11	0()0	0()0	PROPN
dem-1052	205	12	(	(	PUNCT
dem-1052	205	13	)	)	PUNCT
dem-1052	205	14	0	0	NUM
dem-1052	205	15	(	(	PUNCT
dem-1052	205	16	+	+	CCONJ
dem-1052	205	17	=	=	SYM
dem-1052	205	18	and	and	CCONJ
dem-1052	205	19	(	(	PUNCT
dem-1052	205	20	)	)	PUNCT
dem-1052	205	21	(	(	PUNCT
dem-1052	205	22	)	)	PUNCT
dem-1052	205	23	.)0(1)1	.)0(1)1	PROPN
dem-1052	205	24	(	(	PUNCT
dem-1052	205	25	xjjdpxjjdp	xjjdpxjjdp	AUX
dem-1052	205	26	−=	−=	VERB
dem-1052	205	27	the	the	DET
dem-1052	205	28	newton	newton	PROPN
dem-1052	205	29	-	-	PUNCT
dem-1052	205	30	raftery	raftery	PROPN
dem-1052	205	31	estimators	estimator	NOUN
dem-1052	205	32	(	(	PUNCT
dem-1052	205	33	newton	newton	PROPN
dem-1052	205	34	,	,	PUNCT
dem-1052	205	35	raftery	raftery	NOUN
dem-1052	205	36	,	,	PUNCT
dem-1052	205	37	1994	1994	NUM
dem-1052	205	38	;	;	PUNCT
dem-1052	205	39	raftery	raftery	PROPN
dem-1052	205	40	,	,	PUNCT
dem-1052	205	41	newton	newton	PROPN
dem-1052	205	42	,	,	PUNCT
dem-1052	205	43	satagopan	satagopan	NOUN
dem-1052	205	44	,	,	PUNCT
dem-1052	205	45	krivitsky	krivitsky	PROPN
dem-1052	205	46	,	,	PUNCT
dem-1052	205	47	2007	2007	NUM
dem-1052	205	48	)	)	PUNCT
dem-1052	205	49	are	be	AUX
dem-1052	205	50	employed	employ	VERB
dem-1052	205	51	to	to	PART
dem-1052	205	52	assess	assess	VERB
dem-1052	205	53	the	the	DET
dem-1052	205	54	posterior	posterior	ADJ
dem-1052	205	55	probabilities	probability	NOUN
dem-1052	205	56	(	(	PUNCT
dem-1052	205	57	)	)	PUNCT
dem-1052	205	58	jjdxp	jjdxp	PROPN
dem-1052	205	59	)	)	PUNCT
dem-1052	205	60	0	0	NUM
dem-1052	205	61	(	(	PUNCT
dem-1052	205	62	and	and	CCONJ
dem-1052	205	63	(	(	PUNCT
dem-1052	205	64	)	)	PUNCT
dem-1052	205	65	jjdxp	jjdxp	PROPN
dem-1052	205	66	)	)	PUNCT
dem-1052	205	67	1	1	NUM
dem-1052	205	68	(	(	PUNCT
dem-1052	205	69	.	.	PUNCT
dem-1052	206	1	these	these	DET
dem-1052	206	2	estimators	estimator	NOUN
dem-1052	206	3	are	be	AUX
dem-1052	206	4	consistent	consistent	ADJ
dem-1052	206	5	,	,	PUNCT
dem-1052	206	6	but	but	CCONJ
dem-1052	206	7	their	their	PRON
dem-1052	206	8	asymptotic	asymptotic	ADJ
dem-1052	206	9	variances	variance	NOUN
dem-1052	206	10	do	do	AUX
dem-1052	206	11	not	not	PART
dem-1052	206	12	exist	exist	VERB
dem-1052	206	13	.	.	PUNCT
dem-1052	207	1	in	in	ADP
dem-1052	207	2	practice	practice	NOUN
dem-1052	207	3	,	,	PUNCT
dem-1052	207	4	the	the	DET
dem-1052	207	5	values	value	NOUN
dem-1052	207	6	of	of	ADP
dem-1052	207	7	the	the	DET
dem-1052	207	8	estimator	estimator	NOUN
dem-1052	207	9	may	may	AUX
dem-1052	207	10	not	not	PART
dem-1052	207	11	stable	stable	VERB
dem-1052	207	12	.	.	PUNCT
dem-1052	208	1	a	a	DET
dem-1052	208	2	longer	long	ADJ
dem-1052	208	3	monte	monte	PROPN
dem-1052	208	4	carlo	carlo	PROPN
dem-1052	208	5	chain	chain	NOUN
dem-1052	208	6	(	(	PUNCT
dem-1052	208	7	of	of	ADP
dem-1052	208	8	1,000,000	1,000,000	NUM
dem-1052	208	9	draws	draw	NOUN
dem-1052	208	10	)	)	PUNCT
dem-1052	208	11	was	be	AUX
dem-1052	208	12	generated	generate	VERB
dem-1052	208	13	to	to	PART
dem-1052	208	14	increase	increase	VERB
dem-1052	208	15	the	the	DET
dem-1052	208	16	credibility	credibility	NOUN
dem-1052	208	17	of	of	ADP
dem-1052	208	18	the	the	DET
dem-1052	208	19	estimator	estimator	NOUN
dem-1052	208	20	.	.	PUNCT
dem-1052	209	1	bayesian	bayesian	NOUN
dem-1052	209	2	pricing	pricing	NOUN
dem-1052	209	3	of	of	ADP
dem-1052	209	4	the	the	DET
dem-1052	209	5	optimal	optimal	ADJ
dem-1052	209	6	-	-	PUNCT
dem-1052	209	7	replication	replication	NOUN
dem-1052	209	8	strategy	strategy	NOUN
dem-1052	209	9	for	for	ADP
dem-1052	209	10	the	the	DET
dem-1052	209	11	european	european	ADJ
dem-1052	209	12	option	option	NOUN
dem-1052	209	13	…	…	PUNCT
dem-1052	209	14	dynamic	dynamic	ADJ
dem-1052	209	15	econometric	econometric	ADJ
dem-1052	209	16	models	model	NOUN
dem-1052	209	17	12	12	NUM
dem-1052	209	18	(	(	PUNCT
dem-1052	209	19	2012	2012	NUM
dem-1052	209	20	)	)	PUNCT
dem-1052	209	21	53–71	53–71	NOUN
dem-1052	209	22	63	63	NUM
dem-1052	209	23	under	under	ADP
dem-1052	209	24	equal	equal	ADJ
dem-1052	209	25	prior	prior	ADJ
dem-1052	209	26	probabilities	probability	NOUN
dem-1052	209	27	of	of	ADP
dem-1052	209	28	each	each	DET
dem-1052	209	29	model	model	NOUN
dem-1052	209	30	,	,	PUNCT
dem-1052	209	31	i.e.	i.e.	X
dem-1052	209	32	(	(	PUNCT
dem-1052	209	33	)	)	PUNCT
dem-1052	209	34	(	(	PUNCT
dem-1052	209	35	)	)	PUNCT
dem-1052	209	36	jjdpjjdp	jjdpjjdp	PROPN
dem-1052	209	37	)	)	PUNCT
dem-1052	209	38	1()0	1()0	NUM
dem-1052	209	39	(	(	PUNCT
dem-1052	209	40	=	=	NOUN
dem-1052	209	41	,	,	PUNCT
dem-1052	209	42	we	we	PRON
dem-1052	209	43	obtain	obtain	VERB
dem-1052	209	44	(	(	PUNCT
dem-1052	209	45	)	)	PUNCT
dem-1052	209	46	(	(	PUNCT
dem-1052	209	47	)	)	PUNCT
dem-1052	209	48	.|)1(|)0	.|)1(|)0	PROPN
dem-1052	209	49	(	(	PUNCT
dem-1052	209	50	xjjdpxjjdp	xjjdpxjjdp	ADP
dem-1052	210	1	≈	≈	PROPN
dem-1052	210	2	however	however	ADV
dem-1052	210	3	,	,	PUNCT
dem-1052	210	4	invoking	invoke	VERB
dem-1052	210	5	occam	occam	PROPN
dem-1052	210	6	’s	’s	PART
dem-1052	210	7	razor	razor	NOUN
dem-1052	210	8	that	that	PRON
dem-1052	210	9	promotes	promote	VERB
dem-1052	210	10	parsimony	parsimony	NOUN
dem-1052	210	11	(	(	PUNCT
dem-1052	210	12	and	and	CCONJ
dem-1052	210	13	thereby	thereby	ADV
dem-1052	210	14	models	model	VERB
dem-1052	210	15	with	with	ADP
dem-1052	210	16	lower	low	ADJ
dem-1052	210	17	number	number	NOUN
dem-1052	210	18	of	of	ADP
dem-1052	210	19	parameters	parameter	NOUN
dem-1052	210	20	)	)	PUNCT
dem-1052	210	21	we	we	PRON
dem-1052	210	22	set	set	VERB
dem-1052	210	23	(	(	PUNCT
dem-1052	210	24	)	)	PUNCT
dem-1052	210	25	22)0	22)0	NUM
dem-1052	210	26	(	(	PUNCT
dem-1052	210	27	−∝jjdp	−∝jjdp	NOUN
dem-1052	210	28	and	and	CCONJ
dem-1052	210	29	(	(	PUNCT
dem-1052	210	30	)	)	PUNCT
dem-1052	210	31	52)1	52)1	NUM
dem-1052	210	32	(	(	PUNCT
dem-1052	210	33	−∝jjdp	−∝jjdp	PROPN
dem-1052	210	34	,	,	PUNCT
dem-1052	210	35	which	which	PRON
dem-1052	210	36	results	result	VERB
dem-1052	210	37	in	in	ADP
dem-1052	210	38	(	(	PUNCT
dem-1052	210	39	)	)	PUNCT
dem-1052	210	40	9.0|)0	9.0|)0	NUM
dem-1052	210	41	(	(	PUNCT
dem-1052	210	42	≈xjjdp	≈xjjdp	NOUN
dem-1052	210	43	.	.	PUNCT
dem-1052	211	1	the	the	DET
dem-1052	211	2	jd(0)j	jd(0)j	PROPN
dem-1052	211	3	model	model	NOUN
dem-1052	211	4	is	be	AUX
dem-1052	211	5	more	more	ADV
dem-1052	211	6	likely	likely	ADJ
dem-1052	211	7	a	a	DET
dem-1052	211	8	posteriori	posteriori	NOUN
dem-1052	211	9	than	than	ADP
dem-1052	211	10	the	the	DET
dem-1052	211	11	jd(1)j	jd(1)j	NOUN
dem-1052	211	12	specification	specification	NOUN
dem-1052	211	13	.	.	PUNCT
dem-1052	212	1	in	in	ADP
dem-1052	212	2	other	other	ADJ
dem-1052	212	3	words	word	NOUN
dem-1052	212	4	,	,	PUNCT
dem-1052	212	5	jumps	jump	VERB
dem-1052	212	6	are	be	AUX
dem-1052	212	7	non	non	ADJ
dem-1052	212	8	-	-	ADJ
dem-1052	212	9	essential	essential	ADJ
dem-1052	212	10	in	in	ADP
dem-1052	212	11	modeling	model	VERB
dem-1052	212	12	dynamics	dynamic	NOUN
dem-1052	212	13	of	of	ADP
dem-1052	212	14	daily	daily	ADJ
dem-1052	212	15	(	(	PUNCT
dem-1052	212	16	closing	closing	NOUN
dem-1052	212	17	)	)	PUNCT
dem-1052	212	18	quotations	quotation	NOUN
dem-1052	212	19	of	of	ADP
dem-1052	212	20	the	the	DET
dem-1052	212	21	wig20	wig20	PROPN
dem-1052	212	22	index5	index5	NOUN
dem-1052	212	23	.	.	PUNCT
dem-1052	213	1	4.1.2	4.1.2	X
dem-1052	213	2	.	.	NOUN
dem-1052	213	3	calculating	calculate	VERB
dem-1052	213	4	the	the	DET
dem-1052	213	5	optimal	optimal	ADJ
dem-1052	213	6	-	-	PUNCT
dem-1052	213	7	replication	replication	NOUN
dem-1052	213	8	strategy	strategy	NOUN
dem-1052	213	9	cost	cost	NOUN
dem-1052	213	10	under	under	ADP
dem-1052	213	11	market	market	NOUN
dem-1052	213	12	completeness	completeness	NOUN
dem-1052	213	13	of	of	ADP
dem-1052	213	14	the	the	DET
dem-1052	213	15	black	black	ADJ
dem-1052	213	16	-	-	PUNCT
dem-1052	213	17	scholes	schole	NOUN
dem-1052	213	18	model	model	NOUN
dem-1052	213	19	replication	replication	NOUN
dem-1052	213	20	strategies	strategy	NOUN
dem-1052	213	21	do	do	AUX
dem-1052	213	22	exist	exist	VERB
dem-1052	213	23	.	.	PUNCT
dem-1052	214	1	continuous	continuous	ADJ
dem-1052	214	2	trading	trading	NOUN
dem-1052	214	3	opportunity	opportunity	NOUN
dem-1052	214	4	is	be	AUX
dem-1052	214	5	one	one	NUM
dem-1052	214	6	of	of	ADP
dem-1052	214	7	the	the	DET
dem-1052	214	8	model	model	NOUN
dem-1052	214	9	’s	’s	PART
dem-1052	214	10	underlying	underlie	VERB
dem-1052	214	11	assumptions	assumption	NOUN
dem-1052	214	12	.	.	PUNCT
dem-1052	215	1	however	however	ADV
dem-1052	215	2	,	,	PUNCT
dem-1052	215	3	in	in	ADP
dem-1052	215	4	practice	practice	NOUN
dem-1052	215	5	this	this	DET
dem-1052	215	6	assumption	assumption	NOUN
dem-1052	215	7	is	be	AUX
dem-1052	215	8	quite	quite	ADV
dem-1052	215	9	unrealistic	unrealistic	ADJ
dem-1052	215	10	.	.	PUNCT
dem-1052	216	1	if	if	SCONJ
dem-1052	216	2	we	we	PRON
dem-1052	216	3	limit	limit	VERB
dem-1052	216	4	trading	trading	NOUN
dem-1052	216	5	opportunities	opportunity	NOUN
dem-1052	216	6	to	to	PART
dem-1052	216	7	discrete	discrete	VERB
dem-1052	216	8	times	time	NOUN
dem-1052	216	9	we	we	PRON
dem-1052	216	10	get	get	VERB
dem-1052	216	11	an	an	DET
dem-1052	216	12	incomplete	incomplete	ADJ
dem-1052	216	13	model	model	NOUN
dem-1052	216	14	(	(	PUNCT
dem-1052	216	15	bertsimas	bertsimas	PROPN
dem-1052	216	16	,	,	PUNCT
dem-1052	216	17	kogan	kogan	PROPN
dem-1052	216	18	,	,	PUNCT
dem-1052	216	19	lo	lo	PROPN
dem-1052	216	20	,	,	PUNCT
dem-1052	216	21	2001	2001	NUM
dem-1052	216	22	)	)	PUNCT
dem-1052	216	23	.	.	PUNCT
dem-1052	217	1	in	in	ADP
dem-1052	217	2	the	the	DET
dem-1052	217	3	jd(0)j	jd(0)j	PROPN
dem-1052	217	4	framework	framework	NOUN
dem-1052	217	5	and	and	CCONJ
dem-1052	217	6	under	under	ADP
dem-1052	217	7	the	the	DET
dem-1052	217	8	assumption	assumption	NOUN
dem-1052	217	9	of	of	ADP
dem-1052	217	10	the	the	DET
dem-1052	217	11	fixed	fix	VERB
dem-1052	217	12	time	time	NOUN
dem-1052	217	13	δ	δ	PROPN
dem-1052	217	14	between	between	ADP
dem-1052	217	15	consecutive	consecutive	ADJ
dem-1052	217	16	trading	trading	NOUN
dem-1052	217	17	times	time	NOUN
dem-1052	217	18	,	,	PUNCT
dem-1052	217	19	the	the	DET
dem-1052	217	20	replication	replication	NOUN
dem-1052	217	21	strategy	strategy	NOUN
dem-1052	217	22	may	may	AUX
dem-1052	217	23	not	not	PART
dem-1052	217	24	exist	exist	VERB
dem-1052	217	25	.	.	PUNCT
dem-1052	218	1	further	far	ADV
dem-1052	218	2	,	,	PUNCT
dem-1052	218	3	we	we	PRON
dem-1052	218	4	calculate	calculate	VERB
dem-1052	218	5	the	the	DET
dem-1052	218	6	costs	cost	NOUN
dem-1052	218	7	and	and	CCONJ
dem-1052	218	8	errors	error	NOUN
dem-1052	218	9	of	of	ADP
dem-1052	218	10	the	the	DET
dem-1052	218	11	optimal	optimal	ADJ
dem-1052	218	12	strategies	strategy	NOUN
dem-1052	218	13	for	for	ADP
dem-1052	218	14	some	some	DET
dem-1052	218	15	european	european	ADJ
dem-1052	218	16	options	option	NOUN
dem-1052	218	17	.	.	PUNCT
dem-1052	219	1	let	let	VERB
dem-1052	219	2	us	we	PRON
dem-1052	219	3	consider	consider	VERB
dem-1052	219	4	two	two	NUM
dem-1052	219	5	european	european	ADJ
dem-1052	219	6	call	call	NOUN
dem-1052	219	7	options	option	NOUN
dem-1052	219	8	.	.	PUNCT
dem-1052	220	1	the	the	DET
dem-1052	220	2	date	date	NOUN
dem-1052	220	3	of	of	ADP
dem-1052	220	4	pricing	price	VERB
dem-1052	220	5	the	the	DET
dem-1052	220	6	optimal	optimal	ADJ
dem-1052	220	7	strategy	strategy	NOUN
dem-1052	220	8	is	be	AUX
dem-1052	220	9	march	march	PROPN
dem-1052	220	10	14	14	NUM
dem-1052	220	11	,	,	PUNCT
dem-1052	220	12	2011	2011	NUM
dem-1052	220	13	,	,	PUNCT
dem-1052	220	14	and	and	CCONJ
dem-1052	220	15	the	the	DET
dem-1052	220	16	maturity	maturity	NOUN
dem-1052	220	17	date	date	NOUN
dem-1052	220	18	t	t	NOUN
dem-1052	220	19	is	be	AUX
dem-1052	220	20	march	march	PROPN
dem-1052	220	21	18	18	NUM
dem-1052	220	22	,	,	PUNCT
dem-1052	220	23	2011	2011	NUM
dem-1052	220	24	.	.	PUNCT
dem-1052	221	1	strike	strike	NOUN
dem-1052	221	2	prices	price	NOUN
dem-1052	221	3	are	be	AUX
dem-1052	221	4	equal	equal	ADJ
dem-1052	221	5	2700	2700	NUM
dem-1052	221	6	=	=	SYM
dem-1052	221	7	k	k	PROPN
dem-1052	221	8	and	and	CCONJ
dem-1052	221	9	2800	2800	NUM
dem-1052	221	10	=	=	SYM
dem-1052	221	11	k	k	X
dem-1052	221	12	.	.	PUNCT
dem-1052	222	1	the	the	DET
dem-1052	222	2	closing	closing	NOUN
dem-1052	222	3	quotation	quotation	NOUN
dem-1052	222	4	value	value	NOUN
dem-1052	222	5	of	of	ADP
dem-1052	222	6	the	the	DET
dem-1052	222	7	wig20	wig20	PROPN
dem-1052	222	8	index	index	NOUN
dem-1052	222	9	on	on	ADP
dem-1052	222	10	march	march	PROPN
dem-1052	222	11	14	14	NUM
dem-1052	222	12	,	,	PUNCT
dem-1052	222	13	2011	2011	NUM
dem-1052	222	14	equals	equal	VERB
dem-1052	222	15	2757.76	2757.76	NUM
dem-1052	222	16	.	.	PUNCT
dem-1052	223	1	the	the	DET
dem-1052	223	2	first	first	ADJ
dem-1052	223	3	option	option	NOUN
dem-1052	223	4	is	be	AUX
dem-1052	223	5	in	in	ADP
dem-1052	223	6	the	the	DET
dem-1052	223	7	money	money	NOUN
dem-1052	223	8	and	and	CCONJ
dem-1052	223	9	the	the	DET
dem-1052	223	10	second	second	ADJ
dem-1052	223	11	one	one	NOUN
dem-1052	223	12	is	be	AUX
dem-1052	223	13	out	out	ADP
dem-1052	223	14	of	of	ADP
dem-1052	223	15	the	the	DET
dem-1052	223	16	money	money	NOUN
dem-1052	223	17	.	.	PUNCT
dem-1052	224	1	the	the	DET
dem-1052	224	2	riskless	riskless	NOUN
dem-1052	224	3	interest	interest	NOUN
dem-1052	224	4	rate	rate	NOUN
dem-1052	224	5	is	be	AUX
dem-1052	224	6	arbitrarily	arbitrarily	ADV
dem-1052	224	7	set	set	VERB
dem-1052	224	8	at	at	ADP
dem-1052	224	9	0362.0	0362.0	NUM
dem-1052	224	10	=	=	NOUN
dem-1052	224	11	r	r	NOUN
dem-1052	224	12	(	(	PUNCT
dem-1052	224	13	r	r	NOUN
dem-1052	224	14	equals	equal	VERB
dem-1052	224	15	an	an	DET
dem-1052	224	16	arithmetic	arithmetic	ADJ
dem-1052	224	17	mean	mean	NOUN
dem-1052	224	18	of	of	ADP
dem-1052	224	19	wibid	wibid	NOUN
dem-1052	224	20	on	on	ADP
dem-1052	224	21	and	and	CCONJ
dem-1052	224	22	wibor	wibor	NOUN
dem-1052	224	23	on	on	ADP
dem-1052	224	24	on	on	ADP
dem-1052	224	25	march	march	PROPN
dem-1052	224	26	14	14	NUM
dem-1052	224	27	,	,	PUNCT
dem-1052	224	28	2011	2011	NUM
dem-1052	224	29	)	)	PUNCT
dem-1052	224	30	.	.	PUNCT
dem-1052	225	1	the	the	DET
dem-1052	225	2	theory	theory	NOUN
dem-1052	225	3	of	of	ADP
dem-1052	225	4	optimal	optimal	ADJ
dem-1052	225	5	-	-	PUNCT
dem-1052	225	6	replication	replication	NOUN
dem-1052	225	7	strategy	strategy	NOUN
dem-1052	225	8	was	be	AUX
dem-1052	225	9	originally	originally	ADV
dem-1052	225	10	presented	present	VERB
dem-1052	225	11	under	under	ADP
dem-1052	225	12	the	the	DET
dem-1052	225	13	restriction	restriction	NOUN
dem-1052	225	14	of	of	ADP
dem-1052	225	15	0	0	NUM
dem-1052	225	16	=	=	NOUN
dem-1052	225	17	r	r	NOUN
dem-1052	225	18	,	,	PUNCT
dem-1052	225	19	but	but	CCONJ
dem-1052	225	20	,	,	PUNCT
dem-1052	225	21	fortunately	fortunately	ADV
dem-1052	225	22	,	,	PUNCT
dem-1052	225	23	it	it	PRON
dem-1052	225	24	could	could	AUX
dem-1052	225	25	be	be	AUX
dem-1052	225	26	generalized	generalize	VERB
dem-1052	225	27	so	so	SCONJ
dem-1052	225	28	as	as	SCONJ
dem-1052	225	29	to	to	PART
dem-1052	225	30	incorporate	incorporate	VERB
dem-1052	225	31	any	any	DET
dem-1052	225	32	constant	constant	ADJ
dem-1052	225	33	riskless	riskless	NOUN
dem-1052	225	34	rate	rate	NOUN
dem-1052	225	35	0	0	NUM
dem-1052	225	36	>	>	X
dem-1052	225	37	r	r	NOUN
dem-1052	225	38	.	.	PUNCT
dem-1052	226	1	the	the	DET
dem-1052	226	2	pillar	pillar	NOUN
dem-1052	226	3	of	of	ADP
dem-1052	226	4	the	the	DET
dem-1052	226	5	extension	extension	NOUN
dem-1052	226	6	is	be	AUX
dem-1052	226	7	normalization	normalization	NOUN
dem-1052	226	8	of	of	ADP
dem-1052	226	9	all	all	DET
dem-1052	226	10	prices	price	NOUN
dem-1052	226	11	with	with	ADP
dem-1052	226	12	the	the	DET
dem-1052	226	13	price	price	NOUN
dem-1052	226	14	of	of	ADP
dem-1052	226	15	a	a	DET
dem-1052	226	16	zero	zero	NUM
dem-1052	226	17	-	-	PUNCT
dem-1052	226	18	coupon	coupon	NOUN
dem-1052	226	19	bond	bond	NOUN
dem-1052	226	20	(	(	PUNCT
dem-1052	226	21	bertsimas	bertsimas	PROPN
dem-1052	226	22	,	,	PUNCT
dem-1052	226	23	kogan	kogan	PROPN
dem-1052	226	24	,	,	PUNCT
dem-1052	226	25	lo	lo	PROPN
dem-1052	226	26	,	,	PUNCT
dem-1052	226	27	2001	2001	NUM
dem-1052	226	28	)	)	PUNCT
dem-1052	226	29	.	.	PUNCT
dem-1052	227	1	figures	figure	NOUN
dem-1052	227	2	3	3	NUM
dem-1052	227	3	and	and	CCONJ
dem-1052	227	4	4	4	NUM
dem-1052	227	5	display	display	NOUN
dem-1052	227	6	posterior	posterior	ADJ
dem-1052	227	7	distributions	distribution	NOUN
dem-1052	227	8	of	of	ADP
dem-1052	227	9	the	the	DET
dem-1052	227	10	optimal	optimal	ADJ
dem-1052	227	11	-	-	PUNCT
dem-1052	227	12	replication	replication	NOUN
dem-1052	227	13	strategy	strategy	NOUN
dem-1052	227	14	cost	cost	NOUN
dem-1052	227	15	*	*	PUNCT
dem-1052	228	1	0v	0v	NOUN
dem-1052	228	2	and	and	CCONJ
dem-1052	228	3	the	the	DET
dem-1052	228	4	relative	relative	ADJ
dem-1052	228	5	measure	measure	NOUN
dem-1052	228	6	of	of	ADP
dem-1052	228	7	the	the	DET
dem-1052	228	8	market	market	NOUN
dem-1052	228	9	incompleteness	incompleteness	NOUN
dem-1052	228	10	∗ε	∗ε	PROPN
dem-1052	228	11	for	for	ADP
dem-1052	228	12	each	each	DET
dem-1052	228	13	strike	strike	NOUN
dem-1052	228	14	price	price	NOUN
dem-1052	228	15	.	.	PUNCT
dem-1052	229	1	the	the	DET
dem-1052	229	2	histograms	histogram	NOUN
dem-1052	229	3	are	be	AUX
dem-1052	229	4	calculated	calculate	VERB
dem-1052	229	5	on	on	ADP
dem-1052	229	6	the	the	DET
dem-1052	229	7	basis	basis	NOUN
dem-1052	229	8	of	of	ADP
dem-1052	229	9	1,000	1,000	NUM
dem-1052	229	10	states	state	NOUN
dem-1052	229	11	of	of	ADP
dem-1052	229	12	markov	markov	NOUN
dem-1052	229	13	chains	chain	NOUN
dem-1052	229	14	.	.	PUNCT
dem-1052	230	1	the	the	DET
dem-1052	230	2	maturity	maturity	NOUN
dem-1052	230	3	t	t	PROPN
dem-1052	230	4	is	be	AUX
dem-1052	230	5	specified	specify	VERB
dem-1052	230	6	as	as	ADP
dem-1052	230	7	252/4	252/4	NUM
dem-1052	230	8	,	,	PUNCT
dem-1052	230	9	which	which	PRON
dem-1052	230	10	may	may	AUX
dem-1052	230	11	appear	appear	VERB
dem-1052	230	12	a	a	DET
dem-1052	230	13	short	short	ADJ
dem-1052	230	14	period	period	NOUN
dem-1052	230	15	of	of	ADP
dem-1052	230	16	time	time	NOUN
dem-1052	230	17	,	,	PUNCT
dem-1052	230	18	but	but	CCONJ
dem-1052	230	19	is	be	AUX
dem-1052	230	20	long	long	ADV
dem-1052	230	21	enough	enough	ADV
dem-1052	230	22	to	to	PART
dem-1052	230	23	judge	judge	VERB
dem-1052	230	24	the	the	DET
dem-1052	230	25	convergence	convergence	NOUN
dem-1052	230	26	of	of	ADP
dem-1052	230	27	the	the	DET
dem-1052	230	28	optimal	optimal	ADJ
dem-1052	230	29	-	-	PUNCT
dem-1052	230	30	replication	replication	NOUN
dem-1052	230	31	strategy	strategy	NOUN
dem-1052	230	32	to	to	ADP
dem-1052	230	33	the	the	DET
dem-1052	230	34	replication	replication	NOUN
dem-1052	230	35	strategy	strategy	NOUN
dem-1052	230	36	(	(	PUNCT
dem-1052	230	37	the	the	DET
dem-1052	230	38	strategy	strategy	NOUN
dem-1052	230	39	exists	exist	VERB
dem-1052	230	40	in	in	ADP
dem-1052	230	41	black	black	ADJ
dem-1052	230	42	-	-	PUNCT
dem-1052	230	43	scholes	schole	NOUN
dem-1052	230	44	framework	framework	NOUN
dem-1052	230	45	)	)	PUNCT
dem-1052	230	46	.	.	PUNCT
dem-1052	231	1	for	for	ADP
dem-1052	231	2	the	the	DET
dem-1052	231	3	time	time	NOUN
dem-1052	231	4	being	be	AUX
dem-1052	231	5	let	let	VERB
dem-1052	231	6	us	we	PRON
dem-1052	231	7	assume	assume	VERB
dem-1052	231	8	that	that	SCONJ
dem-1052	231	9	the	the	DET
dem-1052	231	10	unknown	unknown	ADJ
dem-1052	231	11	parameters	parameter	NOUN
dem-1052	231	12	equal	equal	VERB
dem-1052	231	13	the	the	DET
dem-1052	231	14	assessed	assessed	ADJ
dem-1052	231	15	posterior	posterior	ADJ
dem-1052	231	16	means	mean	NOUN
dem-1052	231	17	,	,	PUNCT
dem-1052	231	18	i.e.	i.e.	X
dem-1052	231	19	03644597.0−=µ	03644597.0−=µ	NUM
dem-1052	231	20	and	and	CCONJ
dem-1052	231	21	09171522.02	09171522.02	NUM
dem-1052	231	22	=	=	SYM
dem-1052	231	23	σ	σ	PROPN
dem-1052	231	24	.	.	PUNCT
dem-1052	232	1	let	let	VERB
dem-1052	232	2	l	l	NOUN
dem-1052	232	3	denote	denote	VERB
dem-1052	232	4	the	the	DET
dem-1052	232	5	number	number	NOUN
dem-1052	232	6	of	of	ADP
dem-1052	232	7	times	time	NOUN
dem-1052	232	8	the	the	DET
dem-1052	232	9	portfolio	portfolio	NOUN
dem-1052	232	10	changes	change	VERB
dem-1052	232	11	over	over	ADP
dem-1052	232	12	the	the	DET
dem-1052	232	13	duration	duration	NOUN
dem-1052	232	14	of	of	ADP
dem-1052	232	15	the	the	DET
dem-1052	232	16	5	5	NUM
dem-1052	232	17	the	the	DET
dem-1052	232	18	barndorff	barndorff	NOUN
dem-1052	232	19	-	-	PUNCT
dem-1052	232	20	nielsen	nielsen	PROPN
dem-1052	232	21	and	and	CCONJ
dem-1052	232	22	shephard	shephard	PROPN
dem-1052	232	23	’s	’s	PART
dem-1052	232	24	nonparametric	nonparametric	PROPN
dem-1052	232	25	test	test	NOUN
dem-1052	232	26	also	also	ADV
dem-1052	232	27	rejects	reject	VERB
dem-1052	232	28	jumps	jump	VERB
dem-1052	232	29	in	in	ADP
dem-1052	232	30	the	the	DET
dem-1052	232	31	considered	consider	VERB
dem-1052	232	32	time	time	NOUN
dem-1052	232	33	series	series	PROPN
dem-1052	232	34	(	(	PUNCT
dem-1052	232	35	barndorff	barndorff	PROPN
dem-1052	232	36	-	-	PUNCT
dem-1052	232	37	nielsen	nielsen	PROPN
dem-1052	232	38	,	,	PUNCT
dem-1052	232	39	shephard	shephard	NOUN
dem-1052	232	40	,	,	PUNCT
dem-1052	232	41	2006	2006	NUM
dem-1052	232	42	)	)	PUNCT
dem-1052	232	43	.	.	PUNCT
dem-1052	233	1	maciej	maciej	PROPN
dem-1052	233	2	kostrzewski	kostrzewski	PROPN
dem-1052	233	3	dynamic	dynamic	ADJ
dem-1052	233	4	econometric	econometric	ADJ
dem-1052	233	5	models	model	NOUN
dem-1052	233	6	12	12	NUM
dem-1052	233	7	(	(	PUNCT
dem-1052	233	8	2012	2012	NUM
dem-1052	233	9	)	)	PUNCT
dem-1052	233	10	53–71	53–71	NOUN
dem-1052	233	11	64	64	NUM
dem-1052	233	12	v0	v0	NOUN
dem-1052	233	13	*	*	PUNCT
dem-1052	233	14	for	for	ADP
dem-1052	233	15	k=2700	k=2700	PROPN
dem-1052	233	16	75	75	NUM
dem-1052	233	17	76	76	NUM
dem-1052	233	18	77	77	NUM
dem-1052	233	19	78	78	NUM
dem-1052	233	20	79	79	NUM
dem-1052	233	21	80	80	NUM
dem-1052	233	22	81	81	NUM
dem-1052	233	23	0	0	NUM
dem-1052	233	24	.	.	NOUN
dem-1052	233	25	0	0	NUM
dem-1052	233	26	0	0	NUM
dem-1052	233	27	.	.	NOUN
dem-1052	233	28	1	1	NUM
dem-1052	233	29	0	0	NUM
dem-1052	233	30	.	.	NOUN
dem-1052	233	31	2	2	NUM
dem-1052	233	32	0	0	NUM
dem-1052	233	33	.	.	NOUN
dem-1052	233	34	3	3	NUM
dem-1052	233	35	0	0	NUM
dem-1052	233	36	.	.	NOUN
dem-1052	233	37	4	4	NUM
dem-1052	233	38	ε	ε	PROPN
dem-1052	233	39	*	*	VERB
dem-1052	233	40	for	for	ADP
dem-1052	233	41	k=2700	k=2700	NOUN
dem-1052	233	42	figure	figure	NOUN
dem-1052	233	43	3	3	NUM
dem-1052	233	44	.	.	PUNCT
dem-1052	234	1	histograms	histogram	NOUN
dem-1052	234	2	of	of	ADP
dem-1052	234	3	the	the	DET
dem-1052	234	4	posterior	posterior	ADJ
dem-1052	234	5	distributions	distribution	NOUN
dem-1052	234	6	of	of	ADP
dem-1052	234	7	*	*	PUNCT
dem-1052	234	8	0v	0v	NOUN
dem-1052	234	9	and	and	CCONJ
dem-1052	234	10	∗ε	∗ε	NOUN
dem-1052	234	11	for	for	ADP
dem-1052	234	12	2700	2700	NUM
dem-1052	234	13	=	=	SYM
dem-1052	234	14	k	k	PROPN
dem-1052	234	15	v0	v0	PROPN
dem-1052	234	16	*	*	PUNCT
dem-1052	234	17	for	for	ADP
dem-1052	234	18	k=2800	k=2800	PROPN
dem-1052	234	19	23	23	NUM
dem-1052	234	20	24	24	NUM
dem-1052	234	21	25	25	NUM
dem-1052	234	22	26	26	NUM
dem-1052	234	23	27	27	NUM
dem-1052	234	24	28	28	NUM
dem-1052	234	25	0.0	0.0	NUM
dem-1052	234	26	0.1	0.1	NUM
dem-1052	234	27	0.2	0.2	NUM
dem-1052	234	28	0.3	0.3	NUM
dem-1052	234	29	0.4	0.4	NUM
dem-1052	234	30	ε	ε	PROPN
dem-1052	234	31	*	*	PROPN
dem-1052	234	32	for	for	ADP
dem-1052	234	33	k=2800	k=2800	PROPN
dem-1052	234	34	14.5	14.5	NUM
dem-1052	234	35	15.0	15.0	NUM
dem-1052	234	36	15.5	15.5	NUM
dem-1052	234	37	16.0	16.0	NUM
dem-1052	234	38	16.5	16.5	NUM
dem-1052	234	39	17.0	17.0	NUM
dem-1052	234	40	17.5	17.5	NUM
dem-1052	234	41	18.0	18.0	NUM
dem-1052	234	42	0.0	0.0	NUM
dem-1052	234	43	0.1	0.1	NUM
dem-1052	234	44	0.2	0.2	NUM
dem-1052	234	45	0.3	0.3	NUM
dem-1052	234	46	0.4	0.4	NUM
dem-1052	234	47	0.5	0.5	NUM
dem-1052	234	48	0.6	0.6	NUM
dem-1052	234	49	0.7	0.7	NUM
dem-1052	234	50	figure	figure	NOUN
dem-1052	234	51	4	4	NUM
dem-1052	234	52	.	.	PUNCT
dem-1052	235	1	histograms	histogram	NOUN
dem-1052	235	2	of	of	ADP
dem-1052	235	3	the	the	DET
dem-1052	235	4	posterior	posterior	ADJ
dem-1052	235	5	distributions	distribution	NOUN
dem-1052	235	6	of	of	ADP
dem-1052	235	7	*	*	PUNCT
dem-1052	235	8	0v	0v	NOUN
dem-1052	235	9	and	and	CCONJ
dem-1052	235	10	∗ε	∗ε	NOUN
dem-1052	235	11	for	for	ADP
dem-1052	235	12	2800	2800	NUM
dem-1052	235	13	=	=	SYM
dem-1052	235	14	k	k	NOUN
dem-1052	235	15	options	option	NOUN
dem-1052	235	16	(	(	PUNCT
dem-1052	235	17	a	a	DET
dem-1052	235	18	strategy	strategy	NOUN
dem-1052	235	19	is	be	AUX
dem-1052	235	20	a	a	DET
dem-1052	235	21	sequence	sequence	NOUN
dem-1052	235	22	of	of	ADP
dem-1052	235	23	portfolios	portfolio	NOUN
dem-1052	235	24	)	)	PUNCT
dem-1052	235	25	.	.	PUNCT
dem-1052	236	1	tables	table	NOUN
dem-1052	236	2	2	2	NUM
dem-1052	236	3	and	and	CCONJ
dem-1052	236	4	3	3	NUM
dem-1052	236	5	present	present	VERB
dem-1052	236	6	the	the	DET
dem-1052	236	7	cost	cost	NOUN
dem-1052	236	8	of	of	ADP
dem-1052	236	9	the	the	DET
dem-1052	236	10	optimal	optimal	ADJ
dem-1052	236	11	-	-	PUNCT
dem-1052	236	12	replication	replication	NOUN
dem-1052	236	13	strategy	strategy	NOUN
dem-1052	236	14	*	*	PUNCT
dem-1052	237	1	0v	0v	NOUN
dem-1052	237	2	and	and	CCONJ
dem-1052	237	3	the	the	DET
dem-1052	237	4	relative	relative	ADJ
dem-1052	237	5	measure	measure	NOUN
dem-1052	237	6	of	of	ADP
dem-1052	237	7	the	the	DET
dem-1052	237	8	market	market	NOUN
dem-1052	237	9	incompleteness	incompleteness	NOUN
dem-1052	237	10	∗ε	∗ε	PROPN
dem-1052	237	11	for	for	ADP
dem-1052	237	12	each	each	DET
dem-1052	237	13	strike	strike	NOUN
dem-1052	237	14	price	price	NOUN
dem-1052	237	15	k.	k.	NOUN
dem-1052	238	1	the	the	DET
dem-1052	238	2	prices	price	NOUN
dem-1052	238	3	of	of	ADP
dem-1052	238	4	options	option	NOUN
dem-1052	238	5	calculated	calculate	VERB
dem-1052	238	6	under	under	ADP
dem-1052	238	7	the	the	DET
dem-1052	238	8	black	black	ADJ
dem-1052	238	9	-	-	PUNCT
dem-1052	238	10	scholes	schole	NOUN
dem-1052	238	11	assumptions	assumption	NOUN
dem-1052	238	12	are	be	AUX
dem-1052	238	13	presented	present	VERB
dem-1052	238	14	in	in	ADP
dem-1052	238	15	the	the	DET
dem-1052	238	16	last	last	ADJ
dem-1052	238	17	row	row	NOUN
dem-1052	238	18	of	of	ADP
dem-1052	238	19	table	table	NOUN
dem-1052	238	20	2	2	NUM
dem-1052	238	21	.	.	X
dem-1052	238	22	recall	recall	VERB
dem-1052	238	23	that	that	SCONJ
dem-1052	238	24	the	the	DET
dem-1052	238	25	market	market	NOUN
dem-1052	238	26	completeness	completeness	NOUN
dem-1052	238	27	of	of	ADP
dem-1052	238	28	the	the	DET
dem-1052	238	29	black	black	ADJ
dem-1052	238	30	-	-	PUNCT
dem-1052	238	31	scholes	schole	NOUN
dem-1052	238	32	model	model	NOUN
dem-1052	238	33	warrants	warrant	NOUN
dem-1052	238	34	a	a	DET
dem-1052	238	35	zero	zero	NUM
dem-1052	238	36	replication	replication	NOUN
dem-1052	238	37	error	error	NOUN
dem-1052	238	38	,	,	PUNCT
dem-1052	238	39	i.e.	i.e.	X
dem-1052	238	40	0=∗ε	0=∗ε	NUM
dem-1052	238	41	.	.	PUNCT
dem-1052	239	1	we	we	PRON
dem-1052	239	2	note	note	VERB
dem-1052	239	3	that	that	SCONJ
dem-1052	239	4	as	as	SCONJ
dem-1052	239	5	the	the	DET
dem-1052	239	6	number	number	NOUN
dem-1052	239	7	l	l	NOUN
dem-1052	239	8	of	of	ADP
dem-1052	239	9	times	time	NOUN
dem-1052	239	10	the	the	DET
dem-1052	239	11	portfolio	portfolio	NOUN
dem-1052	239	12	changes	change	VERB
dem-1052	239	13	over	over	ADP
dem-1052	239	14	the	the	DET
dem-1052	239	15	option	option	NOUN
dem-1052	239	16	duration	duration	NOUN
dem-1052	239	17	increases	increase	VERB
dem-1052	239	18	the	the	DET
dem-1052	239	19	optimal	optimal	ADJ
dem-1052	239	20	-	-	PUNCT
dem-1052	239	21	replication	replication	NOUN
dem-1052	239	22	strategy	strategy	NOUN
dem-1052	239	23	cost	cost	VERB
dem-1052	239	24	converges	converge	NOUN
dem-1052	239	25	to	to	ADP
dem-1052	239	26	the	the	DET
dem-1052	239	27	blackscholes	blackschole	NOUN
dem-1052	239	28	price	price	NOUN
dem-1052	239	29	.	.	PUNCT
dem-1052	240	1	the	the	DET
dem-1052	240	2	relation	relation	NOUN
dem-1052	240	3	is	be	AUX
dem-1052	240	4	accompanied	accompany	VERB
dem-1052	240	5	by	by	ADP
dem-1052	240	6	a	a	DET
dem-1052	240	7	systematic	systematic	ADJ
dem-1052	240	8	decrease	decrease	NOUN
dem-1052	240	9	in	in	ADP
dem-1052	240	10	the	the	DET
dem-1052	240	11	replication	replication	NOUN
dem-1052	240	12	error	error	NOUN
dem-1052	240	13	(	(	PUNCT
dem-1052	240	14	see	see	VERB
dem-1052	240	15	table	table	NOUN
dem-1052	240	16	3	3	NUM
dem-1052	240	17	)	)	PUNCT
dem-1052	240	18	,	,	PUNCT
dem-1052	240	19	indicating	indicate	VERB
dem-1052	240	20	that	that	SCONJ
dem-1052	240	21	the	the	DET
dem-1052	240	22	market	market	NOUN
dem-1052	240	23	is	be	AUX
dem-1052	240	24	“	"	PUNCT
dem-1052	240	25	nearing	near	VERB
dem-1052	240	26	”	"	PUNCT
dem-1052	240	27	completeness	completeness	NOUN
dem-1052	240	28	.	.	PUNCT
dem-1052	241	1	the	the	DET
dem-1052	241	2	prices	price	NOUN
dem-1052	241	3	of	of	ADP
dem-1052	241	4	the	the	DET
dem-1052	241	5	options	option	NOUN
dem-1052	241	6	on	on	ADP
dem-1052	241	7	march	march	PROPN
dem-1052	241	8	14	14	NUM
dem-1052	241	9	,	,	PUNCT
dem-1052	241	10	2011	2011	NUM
dem-1052	241	11	equaled	equal	VERB
dem-1052	241	12	52	52	NUM
dem-1052	241	13	and	and	CCONJ
dem-1052	241	14	5	5	NUM
dem-1052	241	15	,	,	PUNCT
dem-1052	241	16	for	for	ADP
dem-1052	241	17	strike	strike	NOUN
dem-1052	241	18	prices	price	NOUN
dem-1052	241	19	k=2700	k=2700	X
dem-1052	241	20	and	and	CCONJ
dem-1052	241	21	k=2800	k=2800	PROPN
dem-1052	241	22	,	,	PUNCT
dem-1052	241	23	respectively	respectively	ADV
dem-1052	241	24	.	.	PUNCT
dem-1052	242	1	posterior	posterior	ADJ
dem-1052	242	2	histograms	histogram	NOUN
dem-1052	242	3	and	and	CCONJ
dem-1052	242	4	expected	expect	VERB
dem-1052	242	5	values	value	NOUN
dem-1052	242	6	of	of	ADP
dem-1052	242	7	*	*	PUNCT
dem-1052	243	1	0v	0v	NOUN
dem-1052	243	2	suggest	suggest	VERB
dem-1052	243	3	that	that	SCONJ
dem-1052	243	4	hedging	hedging	NOUN
dem-1052	243	5	of	of	ADP
dem-1052	243	6	the	the	DET
dem-1052	243	7	options	option	NOUN
dem-1052	243	8	by	by	ADP
dem-1052	243	9	the	the	DET
dem-1052	243	10	optimal	optimal	ADJ
dem-1052	243	11	-	-	PUNCT
dem-1052	243	12	replication	replication	NOUN
dem-1052	243	13	is	be	AUX
dem-1052	243	14	13	13	NUM
dem-1052	243	15	14	14	NUM
dem-1052	243	16	15	15	NUM
dem-1052	243	17	16	16	NUM
dem-1052	243	18	17	17	NUM
dem-1052	243	19	18	18	NUM
dem-1052	243	20	0.0	0.0	NUM
dem-1052	243	21	0.2	0.2	NUM
dem-1052	243	22	0.4	0.4	NUM
dem-1052	243	23	0.6	0.6	NUM
dem-1052	243	24	0.8	0.8	NUM
dem-1052	243	25	bayesian	bayesian	NOUN
dem-1052	243	26	pricing	pricing	NOUN
dem-1052	243	27	of	of	ADP
dem-1052	243	28	the	the	DET
dem-1052	243	29	optimal	optimal	ADJ
dem-1052	243	30	-	-	PUNCT
dem-1052	243	31	replication	replication	NOUN
dem-1052	243	32	strategy	strategy	NOUN
dem-1052	243	33	for	for	ADP
dem-1052	243	34	the	the	DET
dem-1052	243	35	european	european	ADJ
dem-1052	243	36	option	option	NOUN
dem-1052	243	37	…	…	PUNCT
dem-1052	243	38	dynamic	dynamic	ADJ
dem-1052	243	39	econometric	econometric	ADJ
dem-1052	243	40	models	model	NOUN
dem-1052	243	41	12	12	NUM
dem-1052	243	42	(	(	PUNCT
dem-1052	243	43	2012	2012	NUM
dem-1052	243	44	)	)	PUNCT
dem-1052	243	45	53–71	53–71	NOUN
dem-1052	243	46	65	65	NUM
dem-1052	243	47	table	table	NOUN
dem-1052	243	48	2	2	NUM
dem-1052	243	49	.	.	PUNCT
dem-1052	243	50	values	value	NOUN
dem-1052	243	51	of	of	ADP
dem-1052	243	52	*	*	PUNCT
dem-1052	244	1	0v	0v	NOUN
dem-1052	244	2	calculated	calculate	VERB
dem-1052	244	3	under	under	ADP
dem-1052	244	4	03644597.0−=µ	03644597.0−=µ	NUM
dem-1052	244	5	and	and	CCONJ
dem-1052	244	6	09171522.02	09171522.02	NUM
dem-1052	245	1	=	=	NOUN
dem-1052	245	2	σ	σ	NOUN
dem-1052	245	3	for	for	ADP
dem-1052	245	4	increasing	increase	VERB
dem-1052	245	5	values	value	NOUN
dem-1052	245	6	of	of	ADP
dem-1052	245	7	l	l	NOUN
dem-1052	245	8	,	,	PUNCT
dem-1052	245	9	along	along	ADP
dem-1052	245	10	with	with	ADP
dem-1052	245	11	the	the	DET
dem-1052	245	12	black	black	NOUN
dem-1052	245	13	-	-	PUNCT
dem-1052	245	14	scholes	schole	NOUN
dem-1052	245	15	(	(	PUNCT
dem-1052	245	16	bs	bs	NOUN
dem-1052	245	17	)	)	PUNCT
dem-1052	245	18	prices	price	NOUN
dem-1052	245	19	l	l	NOUN
dem-1052	245	20	*	*	PUNCT
dem-1052	246	1	0v	0v	NOUN
dem-1052	246	2	k=2700	k=2700	PROPN
dem-1052	246	3	k=2800	k=2800	PROPN
dem-1052	246	4	1	1	NUM
dem-1052	246	5	77.7705	77.7705	NUM
dem-1052	246	6	26.1447	26.1447	NUM
dem-1052	246	7	4	4	NUM
dem-1052	246	8	77.7768	77.7768	NUM
dem-1052	246	9	24.7248	24.7248	NUM
dem-1052	246	10	10	10	NUM
dem-1052	246	11	77.7477	77.7477	NUM
dem-1052	246	12	25.0945	25.0945	NUM
dem-1052	246	13	30	30	NUM
dem-1052	246	14	77.7488	77.7488	NUM
dem-1052	246	15	25.0621	25.0621	NUM
dem-1052	246	16	bs	b	NOUN
dem-1052	246	17	77.7427	77.7427	NUM
dem-1052	246	18	25.0372	25.0372	NUM
dem-1052	246	19	table	table	NOUN
dem-1052	246	20	3	3	NUM
dem-1052	246	21	.	.	PUNCT
dem-1052	246	22	values	value	NOUN
dem-1052	246	23	of	of	ADP
dem-1052	246	24	∗ε	∗ε	NOUN
dem-1052	246	25	calculated	calculate	VERB
dem-1052	246	26	under	under	ADP
dem-1052	246	27	03644597.0−=µ	03644597.0−=µ	NUM
dem-1052	246	28	and	and	CCONJ
dem-1052	246	29	09171522.02	09171522.02	NUM
dem-1052	246	30	=	=	NOUN
dem-1052	246	31	σ	σ	NOUN
dem-1052	246	32	for	for	ADP
dem-1052	246	33	increasing	increase	VERB
dem-1052	246	34	values	value	NOUN
dem-1052	246	35	of	of	ADP
dem-1052	246	36	l	l	NOUN
dem-1052	246	37	l	l	X
dem-1052	246	38	∗ε	∗ε	PROPN
dem-1052	246	39	k=2700	k=2700	PROPN
dem-1052	246	40	k=2800	k=2800	PROPN
dem-1052	246	41	1	1	NUM
dem-1052	246	42	27.8907	27.8907	NUM
dem-1052	246	43	28.6173	28.6173	NUM
dem-1052	246	44	4	4	NUM
dem-1052	246	45	15.1117	15.1117	NUM
dem-1052	246	46	16.6562	16.6562	NUM
dem-1052	246	47	10	10	NUM
dem-1052	246	48	9.8949	9.8949	NUM
dem-1052	246	49	10.5713	10.5713	NUM
dem-1052	246	50	30	30	NUM
dem-1052	246	51	5.8611	5.8611	NUM
dem-1052	246	52	6.2656	6.2656	NUM
dem-1052	246	53	100	100	NUM
dem-1052	246	54	3.2616	3.2616	NUM
dem-1052	246	55	3.4959	3.4959	NUM
dem-1052	246	56	200	200	NUM
dem-1052	246	57	2.3230	2.3230	NUM
dem-1052	246	58	2.4952	2.4952	NUM
dem-1052	246	59	500	500	NUM
dem-1052	246	60	1.4778	1.4778	NUM
dem-1052	246	61	1.5844	1.5844	NUM
dem-1052	246	62	bs	b	NOUN
dem-1052	246	63	0	0	NUM
dem-1052	246	64	0	0	NUM
dem-1052	246	65	strategy	strategy	NOUN
dem-1052	246	66	expensive	expensive	ADJ
dem-1052	246	67	in	in	ADP
dem-1052	246	68	comparison	comparison	NOUN
dem-1052	246	69	with	with	ADP
dem-1052	246	70	the	the	DET
dem-1052	246	71	prices	price	NOUN
dem-1052	246	72	of	of	ADP
dem-1052	246	73	the	the	DET
dem-1052	246	74	options	option	NOUN
dem-1052	246	75	.	.	PUNCT
dem-1052	247	1	note	note	VERB
dem-1052	247	2	that	that	SCONJ
dem-1052	247	3	the	the	DET
dem-1052	247	4	above	above	ADJ
dem-1052	247	5	results	result	NOUN
dem-1052	247	6	depend	depend	VERB
dem-1052	247	7	on	on	ADP
dem-1052	247	8	estimation	estimation	NOUN
dem-1052	247	9	of	of	ADP
dem-1052	247	10	the	the	DET
dem-1052	247	11	model	model	NOUN
dem-1052	247	12	’s	’s	PART
dem-1052	247	13	parameters	parameter	NOUN
dem-1052	247	14	and	and	CCONJ
dem-1052	247	15	the	the	DET
dem-1052	247	16	choice	choice	NOUN
dem-1052	247	17	of	of	ADP
dem-1052	247	18	the	the	DET
dem-1052	247	19	observation	observation	NOUN
dem-1052	247	20	set	set	NOUN
dem-1052	247	21	.	.	PUNCT
dem-1052	248	1	if	if	SCONJ
dem-1052	248	2	the	the	DET
dem-1052	248	3	estimation	estimation	NOUN
dem-1052	248	4	is	be	AUX
dem-1052	248	5	based	base	VERB
dem-1052	248	6	on	on	ADP
dem-1052	248	7	a	a	DET
dem-1052	248	8	shorter	short	ADJ
dem-1052	248	9	series	series	NOUN
dem-1052	248	10	,	,	PUNCT
dem-1052	248	11	avoiding	avoid	VERB
dem-1052	248	12	the	the	DET
dem-1052	248	13	period	period	NOUN
dem-1052	248	14	of	of	ADP
dem-1052	248	15	time	time	NOUN
dem-1052	248	16	with	with	ADP
dem-1052	248	17	more	more	ADV
dem-1052	248	18	volatile	volatile	ADJ
dem-1052	248	19	changes	change	NOUN
dem-1052	248	20	of	of	ADP
dem-1052	248	21	the	the	DET
dem-1052	248	22	index	index	NOUN
dem-1052	248	23	,	,	PUNCT
dem-1052	248	24	the	the	DET
dem-1052	248	25	estimation	estimation	NOUN
dem-1052	248	26	and	and	CCONJ
dem-1052	248	27	pricing	pricing	NOUN
dem-1052	248	28	results	result	NOUN
dem-1052	248	29	are	be	AUX
dem-1052	248	30	affected	affect	VERB
dem-1052	248	31	.	.	PUNCT
dem-1052	249	1	we	we	PRON
dem-1052	249	2	additionally	additionally	ADV
dem-1052	249	3	consider	consider	VERB
dem-1052	249	4	a	a	DET
dem-1052	249	5	dataset	dataset	NOUN
dem-1052	249	6	from	from	ADP
dem-1052	249	7	may	may	PROPN
dem-1052	249	8	5	5	NUM
dem-1052	249	9	,	,	PUNCT
dem-1052	249	10	2010	2010	NUM
dem-1052	249	11	to	to	ADP
dem-1052	249	12	march	march	PROPN
dem-1052	249	13	11	11	NUM
dem-1052	249	14	,	,	PUNCT
dem-1052	249	15	2011	2011	NUM
dem-1052	249	16	.	.	PUNCT
dem-1052	250	1	then	then	ADV
dem-1052	250	2	the	the	DET
dem-1052	250	3	values	value	NOUN
dem-1052	250	4	of	of	ADP
dem-1052	250	5	the	the	DET
dem-1052	250	6	relative	relative	ADJ
dem-1052	250	7	measure	measure	NOUN
dem-1052	250	8	of	of	ADP
dem-1052	250	9	market	market	NOUN
dem-1052	250	10	incompleteness	incompleteness	PROPN
dem-1052	250	11	∗ε	∗ε	PROPN
dem-1052	250	12	are	be	AUX
dem-1052	250	13	smaller	small	ADJ
dem-1052	250	14	than	than	ADP
dem-1052	250	15	in	in	ADP
dem-1052	250	16	the	the	DET
dem-1052	250	17	case	case	NOUN
dem-1052	250	18	of	of	ADP
dem-1052	250	19	the	the	DET
dem-1052	250	20	full	full	ADJ
dem-1052	250	21	sample	sample	NOUN
dem-1052	250	22	,	,	PUNCT
dem-1052	250	23	and	and	CCONJ
dem-1052	250	24	so	so	ADV
dem-1052	250	25	is	be	AUX
dem-1052	250	26	the	the	DET
dem-1052	250	27	posterior	posterior	ADJ
dem-1052	250	28	mean	mean	NOUN
dem-1052	250	29	of	of	ADP
dem-1052	250	30	the	the	DET
dem-1052	250	31	volatility	volatility	NOUN
dem-1052	250	32	parameter	parameter	PROPN
dem-1052	250	33	σ	σ	PROPN
dem-1052	250	34	,	,	PUNCT
dem-1052	250	35	with	with	ADP
dem-1052	250	36	its	its	PRON
dem-1052	250	37	value	value	NOUN
dem-1052	250	38	declining	decline	VERB
dem-1052	250	39	from	from	ADP
dem-1052	250	40	0.03	0.03	NUM
dem-1052	250	41	in	in	ADP
dem-1052	250	42	the	the	DET
dem-1052	250	43	case	case	NOUN
dem-1052	250	44	of	of	ADP
dem-1052	250	45	the	the	DET
dem-1052	250	46	full	full	ADJ
dem-1052	250	47	sample	sample	NOUN
dem-1052	250	48	model	model	NOUN
dem-1052	250	49	to	to	ADP
dem-1052	250	50	0.02	0.02	NUM
dem-1052	250	51	for	for	ADP
dem-1052	250	52	the	the	DET
dem-1052	250	53	trimmed	trim	VERB
dem-1052	250	54	series	series	NOUN
dem-1052	250	55	.	.	PUNCT
dem-1052	251	1	figure	figure	VERB
dem-1052	251	2	5	5	NUM
dem-1052	251	3	presents	present	VERB
dem-1052	251	4	the	the	DET
dem-1052	251	5	costs	cost	NOUN
dem-1052	251	6	of	of	ADP
dem-1052	251	7	the	the	DET
dem-1052	251	8	optimal	optimal	ADJ
dem-1052	251	9	-	-	PUNCT
dem-1052	251	10	replication	replication	NOUN
dem-1052	251	11	strategy	strategy	NOUN
dem-1052	251	12	*	*	PUNCT
dem-1052	252	1	0v	0v	NOUN
dem-1052	252	2	for	for	ADP
dem-1052	252	3	a	a	DET
dem-1052	252	4	strike	strike	NOUN
dem-1052	252	5	price	price	NOUN
dem-1052	252	6	k=2700	k=2700	X
dem-1052	252	7	and	and	CCONJ
dem-1052	252	8	two	two	NUM
dem-1052	252	9	sets	set	NOUN
dem-1052	252	10	of	of	ADP
dem-1052	252	11	observations	observation	NOUN
dem-1052	252	12	.	.	PUNCT
dem-1052	253	1	however	however	ADV
dem-1052	253	2	,	,	PUNCT
dem-1052	253	3	the	the	DET
dem-1052	253	4	cost	cost	NOUN
dem-1052	253	5	of	of	ADP
dem-1052	253	6	the	the	DET
dem-1052	253	7	new	new	ADJ
dem-1052	253	8	strategy	strategy	NOUN
dem-1052	253	9	is	be	AUX
dem-1052	253	10	still	still	ADV
dem-1052	253	11	high	high	ADJ
dem-1052	253	12	(	(	PUNCT
dem-1052	253	13	or	or	CCONJ
dem-1052	253	14	the	the	DET
dem-1052	253	15	price	price	NOUN
dem-1052	253	16	of	of	ADP
dem-1052	253	17	the	the	DET
dem-1052	253	18	option	option	NOUN
dem-1052	253	19	is	be	AUX
dem-1052	253	20	low	low	ADJ
dem-1052	253	21	)	)	PUNCT
dem-1052	253	22	.	.	PUNCT
dem-1052	254	1	4.2	4.2	NUM
dem-1052	254	2	.	.	PUNCT
dem-1052	254	3	s&p100	s&p100	NOUN
dem-1052	254	4	let	let	VERB
dem-1052	254	5	us	we	PRON
dem-1052	254	6	consider	consider	VERB
dem-1052	254	7	the	the	DET
dem-1052	254	8	s&p100	s&p100	NOUN
dem-1052	254	9	index	index	NOUN
dem-1052	254	10	and	and	CCONJ
dem-1052	254	11	three	three	NUM
dem-1052	254	12	model	model	NOUN
dem-1052	254	13	specifications	specification	NOUN
dem-1052	254	14	:	:	PUNCT
dem-1052	254	15	jd(0)j	jd(0)j	PROPN
dem-1052	254	16	,	,	PUNCT
dem-1052	254	17	jd(1)j	jd(1)j	NOUN
dem-1052	254	18	and	and	CCONJ
dem-1052	254	19	jd(10)j	jd(10)j	PROPN
dem-1052	254	20	.	.	PUNCT
dem-1052	255	1	it	it	PRON
dem-1052	255	2	is	be	AUX
dem-1052	255	3	assumed	assume	VERB
dem-1052	255	4	that	that	SCONJ
dem-1052	255	5	the	the	DET
dem-1052	255	6	time	time	NOUN
dem-1052	255	7	interval	interval	NOUN
dem-1052	255	8	between	between	ADP
dem-1052	255	9	consecutive	consecutive	ADJ
dem-1052	255	10	observations	observation	NOUN
dem-1052	255	11	equals	equal	VERB
dem-1052	255	12	252/1=∆	252/1=∆	NOUN
dem-1052	255	13	.	.	PUNCT
dem-1052	256	1	maciej	maciej	PROPN
dem-1052	256	2	kostrzewski	kostrzewski	PROPN
dem-1052	256	3	dynamic	dynamic	ADJ
dem-1052	256	4	econometric	econometric	ADJ
dem-1052	256	5	models	model	NOUN
dem-1052	256	6	12	12	NUM
dem-1052	256	7	(	(	PUNCT
dem-1052	256	8	2012	2012	NUM
dem-1052	256	9	)	)	PUNCT
dem-1052	256	10	53–71	53–71	NOUN
dem-1052	256	11	66	66	NUM
dem-1052	256	12	v0	v0	NOUN
dem-1052	256	13	*	*	PUNCT
dem-1052	256	14	(	(	PUNCT
dem-1052	256	15	05	05	NUM
dem-1052	256	16	-	-	PUNCT
dem-1052	256	17	jun-2007	jun-2007	NOUN
dem-1052	256	18	to	to	ADP
dem-1052	256	19	11	11	NUM
dem-1052	256	20	-	-	PUNCT
dem-1052	256	21	mar-2011	mar-2011	NOUN
dem-1052	256	22	)	)	PUNCT
dem-1052	257	1	75	75	NUM
dem-1052	257	2	76	76	NUM
dem-1052	257	3	77	77	NUM
dem-1052	257	4	78	78	NUM
dem-1052	257	5	79	79	NUM
dem-1052	257	6	80	80	NUM
dem-1052	257	7	81	81	NUM
dem-1052	257	8	0.0	0.0	NUM
dem-1052	257	9	0.1	0.1	NUM
dem-1052	257	10	0.2	0.2	NUM
dem-1052	257	11	0.3	0.3	NUM
dem-1052	257	12	0.4	0.4	NUM
dem-1052	257	13	v0	v0	NOUN
dem-1052	257	14	*	*	PUNCT
dem-1052	257	15	(	(	PUNCT
dem-1052	257	16	05	05	NUM
dem-1052	257	17	-	-	PUNCT
dem-1052	257	18	may-2010	may-2010	NOUN
dem-1052	257	19	to	to	ADP
dem-1052	257	20	11	11	NUM
dem-1052	257	21	-	-	PUNCT
dem-1052	257	22	mar-2011	mar-2011	NOUN
dem-1052	257	23	)	)	PUNCT
dem-1052	257	24	65	65	NUM
dem-1052	257	25	66	66	NUM
dem-1052	257	26	67	67	NUM
dem-1052	257	27	68	68	NUM
dem-1052	257	28	69	69	NUM
dem-1052	257	29	0.0	0.0	NUM
dem-1052	257	30	0.1	0.1	NUM
dem-1052	257	31	0.2	0.2	NUM
dem-1052	257	32	0.3	0.3	NUM
dem-1052	257	33	0.4	0.4	NUM
dem-1052	257	34	0.5	0.5	NUM
dem-1052	257	35	figure	figure	NOUN
dem-1052	257	36	5	5	NUM
dem-1052	257	37	.	.	PUNCT
dem-1052	257	38	costs	cost	NOUN
dem-1052	257	39	of	of	ADP
dem-1052	257	40	the	the	DET
dem-1052	257	41	optimal	optimal	ADJ
dem-1052	257	42	-	-	PUNCT
dem-1052	257	43	replication	replication	NOUN
dem-1052	257	44	strategy	strategy	NOUN
dem-1052	257	45	*	*	PUNCT
dem-1052	257	46	0v	0v	NOUN
dem-1052	257	47	for	for	ADP
dem-1052	257	48	the	the	DET
dem-1052	257	49	strike	strike	NOUN
dem-1052	257	50	price	price	NOUN
dem-1052	257	51	k=2700	k=2700	X
dem-1052	257	52	and	and	CCONJ
dem-1052	257	53	two	two	NUM
dem-1052	257	54	sets	set	NOUN
dem-1052	257	55	of	of	ADP
dem-1052	257	56	observations	observation	NOUN
dem-1052	257	57	:	:	PUNCT
dem-1052	257	58	05	05	NUM
dem-1052	257	59	-	-	PUNCT
dem-1052	257	60	jun-2007	jun-2007	NOUN
dem-1052	257	61	to	to	ADP
dem-1052	257	62	11	11	NUM
dem-1052	257	63	-	-	PUNCT
dem-1052	257	64	mar-2011	mar-2011	NOUN
dem-1052	257	65	and	and	CCONJ
dem-1052	257	66	05	05	NUM
dem-1052	257	67	-	-	PUNCT
dem-1052	257	68	may-2010	may-2010	NOUN
dem-1052	257	69	to	to	ADP
dem-1052	257	70	11	11	NUM
dem-1052	257	71	-	-	PUNCT
dem-1052	257	72	mar-2011	mar-2011	NOUN
dem-1052	257	73	4.2.1	4.2.1	NOUN
dem-1052	257	74	.	.	PUNCT
dem-1052	258	1	general	general	ADJ
dem-1052	258	2	results	result	NOUN
dem-1052	258	3	table	table	NOUN
dem-1052	258	4	4	4	NUM
dem-1052	258	5	contains	contain	VERB
dem-1052	258	6	results	result	NOUN
dem-1052	258	7	of	of	ADP
dem-1052	258	8	bayesian	bayesian	NOUN
dem-1052	258	9	estimation	estimation	NOUN
dem-1052	258	10	posterior	posterior	ADJ
dem-1052	258	11	means	mean	NOUN
dem-1052	258	12	and	and	CCONJ
dem-1052	258	13	standard	standard	ADJ
dem-1052	258	14	deviations	deviation	NOUN
dem-1052	258	15	(	(	PUNCT
dem-1052	258	16	in	in	ADP
dem-1052	258	17	parentheses	parenthesis	NOUN
dem-1052	258	18	)	)	PUNCT
dem-1052	258	19	.	.	PUNCT
dem-1052	259	1	the	the	DET
dem-1052	259	2	outcomes	outcome	NOUN
dem-1052	259	3	are	be	AUX
dem-1052	259	4	based	base	VERB
dem-1052	259	5	on	on	ADP
dem-1052	259	6	1,000,000	1,000,000	NUM
dem-1052	259	7	draws	draw	NOUN
dem-1052	259	8	of	of	ADP
dem-1052	259	9	the	the	DET
dem-1052	259	10	markov	markov	NOUN
dem-1052	259	11	chain	chain	NOUN
dem-1052	259	12	and	and	CCONJ
dem-1052	259	13	25,000	25,000	NUM
dem-1052	259	14	burn	burn	NOUN
dem-1052	259	15	-	-	PUNCT
dem-1052	259	16	in	in	ADP
dem-1052	259	17	passes	pass	NOUN
dem-1052	259	18	.	.	PUNCT
dem-1052	260	1	the	the	DET
dem-1052	260	2	results	result	NOUN
dem-1052	260	3	of	of	ADP
dem-1052	260	4	the	the	DET
dem-1052	260	5	mcmc	mcmc	PROPN
dem-1052	260	6	sampler	sampler	NOUN
dem-1052	260	7	are	be	AUX
dem-1052	260	8	robust	robust	ADJ
dem-1052	260	9	to	to	ADP
dem-1052	260	10	the	the	DET
dem-1052	260	11	choice	choice	NOUN
dem-1052	260	12	of	of	ADP
dem-1052	260	13	the	the	DET
dem-1052	260	14	starting	starting	NOUN
dem-1052	260	15	points	point	NOUN
dem-1052	260	16	.	.	PUNCT
dem-1052	261	1	convergence	convergence	NOUN
dem-1052	261	2	of	of	ADP
dem-1052	261	3	the	the	DET
dem-1052	261	4	chains	chain	NOUN
dem-1052	261	5	is	be	AUX
dem-1052	261	6	confirmed	confirm	VERB
dem-1052	261	7	by	by	ADP
dem-1052	261	8	the	the	DET
dem-1052	261	9	cumsum	cumsum	NOUN
dem-1052	261	10	statistics	statistic	NOUN
dem-1052	261	11	(	(	PUNCT
dem-1052	261	12	yu	yu	PROPN
dem-1052	261	13	,	,	PUNCT
dem-1052	261	14	mykland	mykland	NOUN
dem-1052	261	15	,	,	PUNCT
dem-1052	261	16	1998	1998	NUM
dem-1052	261	17	)	)	PUNCT
dem-1052	261	18	,	,	PUNCT
dem-1052	261	19	as	as	ADV
dem-1052	261	20	well	well	ADV
dem-1052	261	21	as	as	ADP
dem-1052	261	22	the	the	DET
dem-1052	261	23	ergodic	ergodic	ADJ
dem-1052	261	24	means	mean	NOUN
dem-1052	261	25	and	and	CCONJ
dem-1052	261	26	standard	standard	ADJ
dem-1052	261	27	deviations	deviation	NOUN
dem-1052	261	28	plots	plot	NOUN
dem-1052	261	29	.	.	PUNCT
dem-1052	262	1	posterior	posterior	ADJ
dem-1052	262	2	means	mean	NOUN
dem-1052	262	3	of	of	ADP
dem-1052	262	4	the	the	DET
dem-1052	262	5	pure	pure	ADJ
dem-1052	262	6	diffusion	diffusion	NOUN
dem-1052	262	7	parameters	parameter	NOUN
dem-1052	262	8	µ	µ	PROPN
dem-1052	262	9	and	and	CCONJ
dem-1052	262	10	2σ	2σ	NUM
dem-1052	262	11	calculated	calculate	VERB
dem-1052	262	12	in	in	ADP
dem-1052	262	13	the	the	DET
dem-1052	262	14	jd(1)j	jd(1)j	NOUN
dem-1052	262	15	and	and	CCONJ
dem-1052	262	16	jd(10)j	jd(10)j	PROPN
dem-1052	262	17	models	model	NOUN
dem-1052	262	18	–	–	PUNCT
dem-1052	262	19	though	though	SCONJ
dem-1052	262	20	almost	almost	ADV
dem-1052	262	21	identical	identical	ADJ
dem-1052	262	22	across	across	ADP
dem-1052	262	23	the	the	DET
dem-1052	262	24	two	two	NUM
dem-1052	262	25	specifications	specification	NOUN
dem-1052	262	26	–	–	PUNCT
dem-1052	262	27	differ	differ	VERB
dem-1052	262	28	quite	quite	ADV
dem-1052	262	29	substantially	substantially	ADV
dem-1052	262	30	from	from	ADP
dem-1052	262	31	their	their	PRON
dem-1052	262	32	counterparts	counterpart	NOUN
dem-1052	262	33	in	in	ADP
dem-1052	262	34	the	the	DET
dem-1052	262	35	jd(0)j	jd(0)j	PROPN
dem-1052	262	36	model	model	NOUN
dem-1052	262	37	(	(	PUNCT
dem-1052	262	38	i.e.	i.e.	X
dem-1052	262	39	the	the	DET
dem-1052	262	40	one	one	NOUN
dem-1052	262	41	that	that	PRON
dem-1052	262	42	precludes	preclude	VERB
dem-1052	262	43	any	any	DET
dem-1052	262	44	jumps	jump	NOUN
dem-1052	262	45	)	)	PUNCT
dem-1052	262	46	.	.	PUNCT
dem-1052	263	1	particularly	particularly	ADV
dem-1052	263	2	,	,	PUNCT
dem-1052	263	3	note	note	VERB
dem-1052	263	4	that	that	SCONJ
dem-1052	263	5	e	e	NOUN
dem-1052	263	6	(	(	PUNCT
dem-1052	263	7	2σ	2σ	X
dem-1052	263	8	|y	|y	NOUN
dem-1052	263	9	,	,	PUNCT
dem-1052	263	10	jd(0)j	jd(0)j	PROPN
dem-1052	263	11	)	)	PUNCT
dem-1052	263	12	=	=	PUNCT
dem-1052	264	1	0.0677	0.0677	NUM
dem-1052	264	2	as	as	SCONJ
dem-1052	264	3	opposed	oppose	VERB
dem-1052	264	4	to	to	ADP
dem-1052	264	5	e	e	PROPN
dem-1052	264	6	(	(	PUNCT
dem-1052	264	7	2σ	2σ	X
dem-1052	264	8	|y	|y	NOUN
dem-1052	264	9	,	,	PUNCT
dem-1052	264	10	jd(m)j	jd(m)j	PROPN
dem-1052	264	11	)	)	PUNCT
dem-1052	264	12	=	=	SYM
dem-1052	264	13	0.047	0.047	NUM
dem-1052	264	14	for	for	ADP
dem-1052	264	15	m=1	m=1	PROPN
dem-1052	264	16	and	and	CCONJ
dem-1052	264	17	m=10	m=10	NOUN
dem-1052	264	18	.	.	PUNCT
dem-1052	265	1	the	the	DET
dem-1052	265	2	difference	difference	NOUN
dem-1052	265	3	is	be	AUX
dem-1052	265	4	justified	justify	VERB
dem-1052	265	5	by	by	ADP
dem-1052	265	6	the	the	DET
dem-1052	265	7	jump	jump	NOUN
dem-1052	265	8	component	component	NOUN
dem-1052	265	9	“	"	PUNCT
dem-1052	265	10	absorbing	absorb	VERB
dem-1052	265	11	”	"	PUNCT
dem-1052	265	12	some	some	PRON
dem-1052	265	13	of	of	ADP
dem-1052	265	14	the	the	DET
dem-1052	265	15	log	log	NOUN
dem-1052	265	16	-	-	PUNCT
dem-1052	265	17	returns	return	NOUN
dem-1052	265	18	’	'	PUNCT
dem-1052	265	19	volatility	volatility	NOUN
dem-1052	265	20	,	,	PUNCT
dem-1052	265	21	whereas	whereas	SCONJ
dem-1052	265	22	exclusion	exclusion	NOUN
dem-1052	265	23	of	of	ADP
dem-1052	265	24	jumps	jump	NOUN
dem-1052	265	25	in	in	ADP
dem-1052	265	26	the	the	DET
dem-1052	265	27	jd(0)j	jd(0)j	PROPN
dem-1052	265	28	specification	specification	NOUN
dem-1052	265	29	is	be	AUX
dem-1052	265	30	compensated	compensate	VERB
dem-1052	265	31	with	with	ADP
dem-1052	265	32	a	a	DET
dem-1052	265	33	higher	high	ADJ
dem-1052	265	34	value	value	NOUN
dem-1052	265	35	of	of	ADP
dem-1052	265	36	the	the	DET
dem-1052	265	37	volatility	volatility	NOUN
dem-1052	265	38	parameter	parameter	NOUN
dem-1052	265	39	’s	’s	PART
dem-1052	265	40	posterior	posterior	ADJ
dem-1052	265	41	mean	mean	NOUN
dem-1052	265	42	.	.	PUNCT
dem-1052	266	1	noteworthy	noteworthy	ADJ
dem-1052	266	2	,	,	PUNCT
dem-1052	266	3	the	the	DET
dem-1052	266	4	posterior	posterior	ADJ
dem-1052	266	5	results	result	VERB
dem-1052	266	6	for	for	ADP
dem-1052	266	7	the	the	DET
dem-1052	266	8	jd(m)j	jd(m)j	PROPN
dem-1052	266	9	specifications	specification	NOUN
dem-1052	266	10	featuring	feature	VERB
dem-1052	266	11	m>0	m>0	NOUN
dem-1052	266	12	are	be	AUX
dem-1052	266	13	very	very	ADV
dem-1052	266	14	close	close	ADJ
dem-1052	266	15	,	,	PUNCT
dem-1052	266	16	which	which	PRON
dem-1052	266	17	may	may	AUX
dem-1052	266	18	be	be	AUX
dem-1052	266	19	indicative	indicative	ADJ
dem-1052	266	20	of	of	ADP
dem-1052	266	21	there	there	PRON
dem-1052	266	22	being	be	AUX
dem-1052	266	23	no	no	DET
dem-1052	266	24	empirical	empirical	ADJ
dem-1052	266	25	need	need	NOUN
dem-1052	266	26	for	for	ADP
dem-1052	266	27	allowing	allow	VERB
dem-1052	266	28	for	for	ADP
dem-1052	266	29	more	more	ADJ
dem-1052	266	30	than	than	ADP
dem-1052	266	31	a	a	DET
dem-1052	266	32	single	single	ADJ
dem-1052	266	33	jump	jump	NOUN
dem-1052	266	34	per	per	ADP
dem-1052	266	35	∆.	∆.	NOUN
dem-1052	266	36	particularly	particularly	ADV
dem-1052	266	37	,	,	PUNCT
dem-1052	266	38	posterior	posterior	ADJ
dem-1052	266	39	means	mean	NOUN
dem-1052	266	40	of	of	ADP
dem-1052	266	41	the	the	DET
dem-1052	266	42	jump	jump	NOUN
dem-1052	266	43	intensity	intensity	NOUN
dem-1052	266	44	parameter	parameter	PROPN
dem-1052	266	45	λ	λ	PROPN
dem-1052	266	46	in	in	ADP
dem-1052	266	47	both	both	CCONJ
dem-1052	266	48	the	the	DET
dem-1052	266	49	jd(1)j	jd(1)j	NOUN
dem-1052	266	50	and	and	CCONJ
dem-1052	266	51	the	the	DET
dem-1052	266	52	jd(10)j	jd(10)j	PROPN
dem-1052	266	53	model	model	NOUN
dem-1052	266	54	consistently	consistently	ADV
dem-1052	266	55	imply	imply	VERB
dem-1052	266	56	that	that	SCONJ
dem-1052	266	57	on	on	ADP
dem-1052	266	58	average	average	ADJ
dem-1052	266	59	there	there	PRON
dem-1052	266	60	are	be	VERB
dem-1052	266	61	4	4	NUM
dem-1052	266	62	jumps	jump	NOUN
dem-1052	266	63	per	per	ADP
dem-1052	266	64	year	year	NOUN
dem-1052	266	65	.	.	PUNCT
dem-1052	267	1	bayesian	bayesian	NOUN
dem-1052	267	2	pricing	pricing	NOUN
dem-1052	267	3	of	of	ADP
dem-1052	267	4	the	the	DET
dem-1052	267	5	optimal	optimal	ADJ
dem-1052	267	6	-	-	PUNCT
dem-1052	267	7	replication	replication	NOUN
dem-1052	267	8	strategy	strategy	NOUN
dem-1052	267	9	for	for	ADP
dem-1052	267	10	the	the	DET
dem-1052	267	11	european	european	ADJ
dem-1052	267	12	option	option	NOUN
dem-1052	267	13	…	…	PUNCT
dem-1052	267	14	dynamic	dynamic	ADJ
dem-1052	267	15	econometric	econometric	ADJ
dem-1052	267	16	models	model	NOUN
dem-1052	267	17	12	12	NUM
dem-1052	267	18	(	(	PUNCT
dem-1052	267	19	2012	2012	NUM
dem-1052	267	20	)	)	PUNCT
dem-1052	267	21	53–71	53–71	NOUN
dem-1052	267	22	67	67	NUM
dem-1052	267	23	table	table	NOUN
dem-1052	267	24	4	4	NUM
dem-1052	267	25	.	.	PUNCT
dem-1052	267	26	posterior	posterior	ADJ
dem-1052	267	27	means	mean	NOUN
dem-1052	267	28	and	and	CCONJ
dem-1052	267	29	standard	standard	ADJ
dem-1052	267	30	deviations	deviation	NOUN
dem-1052	267	31	(	(	PUNCT
dem-1052	267	32	in	in	ADP
dem-1052	267	33	parentheses	parenthesis	NOUN
dem-1052	267	34	)	)	PUNCT
dem-1052	267	35	of	of	ADP
dem-1052	267	36	the	the	DET
dem-1052	267	37	jd(m)j	jd(m)j	PROPN
dem-1052	267	38	models	model	NOUN
dem-1052	267	39	’	'	PUNCT
dem-1052	267	40	parameters	parameter	NOUN
dem-1052	267	41	for	for	ADP
dem-1052	267	42	the	the	DET
dem-1052	267	43	s&p100	s&p100	ADJ
dem-1052	267	44	index	index	NOUN
dem-1052	267	45	parameters	parameter	NOUN
dem-1052	267	46	jd(0)j	jd(0)j	PROPN
dem-1052	267	47	jd(1)j	jd(1)j	NOUN
dem-1052	268	1	jd(10)j	jd(10)j	PROPN
dem-1052	268	2	λ	λ	PROPN
dem-1052	268	3	–	–	PUNCT
dem-1052	268	4	4.4234	4.4234	NUM
dem-1052	268	5	(	(	PUNCT
dem-1052	268	6	1.3363	1.3363	NUM
dem-1052	268	7	)	)	PUNCT
dem-1052	268	8	4.3507	4.3507	NUM
dem-1052	268	9	(	(	PUNCT
dem-1052	268	10	1.3030	1.3030	NUM
dem-1052	268	11	)	)	PUNCT
dem-1052	268	12	µ	µ	NOUN
dem-1052	268	13	0.0145	0.0145	NUM
dem-1052	268	14	(	(	PUNCT
dem-1052	268	15	0.1256	0.1256	NUM
dem-1052	268	16	)	)	PUNCT
dem-1052	268	17	0.0426	0.0426	NUM
dem-1052	268	18	(	(	PUNCT
dem-1052	268	19	0.1089	0.1089	NUM
dem-1052	268	20	)	)	PUNCT
dem-1052	268	21	0.0430	0.0430	NUM
dem-1052	268	22	(	(	PUNCT
dem-1052	268	23	0.1085	0.1085	NUM
dem-1052	268	24	)	)	PUNCT
dem-1052	268	25	µq	µq	PROPN
dem-1052	268	26	–	–	PUNCT
dem-1052	268	27	-0.0090	-0.0090	NOUN
dem-1052	268	28	(	(	PUNCT
dem-1052	268	29	0.1850	0.1850	NUM
dem-1052	268	30	)	)	PUNCT
dem-1052	268	31	-0.0087	-0.0087	NOUN
dem-1052	268	32	(	(	PUNCT
dem-1052	268	33	0.1845	0.1845	NUM
dem-1052	268	34	)	)	PUNCT
dem-1052	268	35	σ2	σ2	NOUN
dem-1052	268	36	0.0677	0.0677	NUM
dem-1052	268	37	(	(	PUNCT
dem-1052	268	38	0.0029	0.0029	NUM
dem-1052	268	39	)	)	PUNCT
dem-1052	268	40	0.0470	0.0470	NUM
dem-1052	268	41	(	(	PUNCT
dem-1052	268	42	0.0028	0.0028	NUM
dem-1052	268	43	)	)	PUNCT
dem-1052	268	44	0.0470	0.0470	NUM
dem-1052	268	45	(	(	PUNCT
dem-1052	268	46	0.0028	0.0028	NUM
dem-1052	268	47	)	)	PUNCT
dem-1052	268	48	σ2	σ2	NOUN
dem-1052	268	49	q	q	PROPN
dem-1052	268	50	–	–	PUNCT
dem-1052	268	51	0.5440	0.5440	NUM
dem-1052	268	52	(	(	PUNCT
dem-1052	268	53	1.1183	1.1183	NUM
dem-1052	268	54	)	)	PUNCT
dem-1052	268	55	0.5451	0.5451	NUM
dem-1052	268	56	(	(	PUNCT
dem-1052	268	57	1.3625	1.3625	NUM
dem-1052	268	58	)	)	PUNCT
dem-1052	268	59	turning	turn	VERB
dem-1052	268	60	to	to	ADP
dem-1052	268	61	the	the	DET
dem-1052	268	62	formal	formal	ADJ
dem-1052	268	63	pair	pair	NOUN
dem-1052	268	64	-	-	PUNCT
dem-1052	268	65	wise	wise	ADJ
dem-1052	268	66	model	model	NOUN
dem-1052	268	67	comparison	comparison	NOUN
dem-1052	268	68	,	,	PUNCT
dem-1052	268	69	we	we	PRON
dem-1052	268	70	calculate	calculate	VERB
dem-1052	268	71	decimal	decimal	ADJ
dem-1052	268	72	logarithms	logarithm	NOUN
dem-1052	268	73	of	of	ADP
dem-1052	268	74	bayes	bayes	PROPN
dem-1052	268	75	factors	factor	NOUN
dem-1052	268	76	(	(	PUNCT
dem-1052	268	77	bernardo	bernardo	NOUN
dem-1052	268	78	,	,	PUNCT
dem-1052	268	79	smith	smith	PROPN
dem-1052	268	80	,	,	PUNCT
dem-1052	268	81	2002	2002	NUM
dem-1052	268	82	)	)	PUNCT
dem-1052	268	83	:	:	PUNCT
dem-1052	268	84	(	(	PUNCT
dem-1052	268	85	)	)	PUNCT
dem-1052	268	86	(	(	PUNCT
dem-1052	268	87	)	)	PUNCT
dem-1052	268	88	,	,	PUNCT
dem-1052	268	89	17	17	NUM
dem-1052	268	90	|jjd(0	|jjd(0	NUM
dem-1052	268	91	)	)	PUNCT
dem-1052	268	92	|jjd(1)log)(log	|jjd(1)log)(log	VERB
dem-1052	268	93	100,110	100,110	NUM
dem-1052	268	94	≈	≈	NOUN
dem-1052	268	95			PUNCT
dem-1052	269	1			PROPN
dem-1052	270	1			INTJ
dem-1052	270	2			NOUN
dem-1052	270	3			VERB
dem-1052	270	4	=	=	SYM
dem-1052	270	5	xp	xp	ADV
dem-1052	270	6	xpb	xpb	NOUN
dem-1052	270	7	(	(	PUNCT
dem-1052	270	8	)	)	PUNCT
dem-1052	270	9	(	(	PUNCT
dem-1052	270	10	)	)	PUNCT
dem-1052	270	11	(	(	PUNCT
dem-1052	270	12	)	)	PUNCT
dem-1052	270	13	.7.1	.7.1	PUNCT
dem-1052	271	1	|jjd(10	|jjd(10	VERB
dem-1052	271	2	)	)	PUNCT
dem-1052	271	3	|jjd(1)loglog	|jjd(1)loglog	PROPN
dem-1052	271	4	1010,110	1010,110	NUM
dem-1052	271	5	≈	≈	PROPN
dem-1052	271	6			PUNCT
dem-1052	272	1			PROPN
dem-1052	273	1			INTJ
dem-1052	273	2			NOUN
dem-1052	273	3			VERB
dem-1052	273	4	=	=	SYM
dem-1052	273	5	xp	xp	INTJ
dem-1052	273	6	xpb	xpb	VERB
dem-1052	273	7	it	it	PRON
dem-1052	273	8	appears	appear	VERB
dem-1052	273	9	that	that	SCONJ
dem-1052	273	10	the	the	DET
dem-1052	273	11	jd(1)j	jd(1)j	NOUN
dem-1052	273	12	specification	specification	NOUN
dem-1052	273	13	beats	beat	VERB
dem-1052	273	14	the	the	DET
dem-1052	273	15	competition	competition	NOUN
dem-1052	273	16	,	,	PUNCT
dem-1052	273	17	being	be	AUX
dem-1052	273	18	as	as	ADV
dem-1052	273	19	much	much	ADJ
dem-1052	273	20	as	as	ADP
dem-1052	273	21	ca	ca	NOUN
dem-1052	273	22	.	.	PUNCT
dem-1052	274	1	17	17	NUM
dem-1052	274	2	orders	order	NOUN
dem-1052	274	3	of	of	ADP
dem-1052	274	4	magnitude	magnitude	NOUN
dem-1052	274	5	more	more	ADV
dem-1052	274	6	likely	likely	ADJ
dem-1052	274	7	a	a	DET
dem-1052	274	8	posteriori	posteriori	NOUN
dem-1052	274	9	than	than	ADP
dem-1052	274	10	the	the	DET
dem-1052	274	11	simplest	simple	ADJ
dem-1052	274	12	model	model	NOUN
dem-1052	274	13	structure	structure	NOUN
dem-1052	274	14	(	(	PUNCT
dem-1052	274	15	jd(0)j)6	jd(0)j)6	NOUN
dem-1052	274	16	.	.	PUNCT
dem-1052	275	1	although	although	SCONJ
dem-1052	275	2	only	only	ADV
dem-1052	275	3	marginally	marginally	ADV
dem-1052	275	4	,	,	PUNCT
dem-1052	275	5	the	the	DET
dem-1052	275	6	former	former	ADJ
dem-1052	275	7	is	be	AUX
dem-1052	275	8	also	also	ADV
dem-1052	275	9	favored	favor	VERB
dem-1052	275	10	against	against	ADP
dem-1052	275	11	the	the	DET
dem-1052	275	12	other	other	ADJ
dem-1052	275	13	jump	jump	NOUN
dem-1052	275	14	-	-	PUNCT
dem-1052	275	15	diffusion	diffusion	NOUN
dem-1052	275	16	specification	specification	NOUN
dem-1052	275	17	,	,	PUNCT
dem-1052	275	18	i.e.	i.e.	X
dem-1052	275	19	jd(10)j	jd(10)j	PROPN
dem-1052	275	20	,	,	PUNCT
dem-1052	275	21	which	which	PRON
dem-1052	275	22	seems	seem	VERB
dem-1052	275	23	to	to	PART
dem-1052	275	24	be	be	AUX
dem-1052	275	25	penalized	penalize	VERB
dem-1052	275	26	for	for	ADP
dem-1052	275	27	its	its	PRON
dem-1052	275	28	excessively	excessively	ADV
dem-1052	275	29	large	large	ADJ
dem-1052	275	30	number	number	NOUN
dem-1052	275	31	m=10	m=10	NOUN
dem-1052	275	32	of	of	ADP
dem-1052	275	33	jumps	jump	NOUN
dem-1052	275	34	allowed	allow	VERB
dem-1052	275	35	per	per	ADP
dem-1052	275	36	∆.	∆.	X
dem-1052	275	37	admittedly	admittedly	ADV
dem-1052	275	38	,	,	PUNCT
dem-1052	275	39	the	the	DET
dem-1052	275	40	result	result	NOUN
dem-1052	275	41	fits	fit	VERB
dem-1052	275	42	in	in	ADV
dem-1052	275	43	well	well	ADV
dem-1052	275	44	with	with	ADP
dem-1052	275	45	the	the	DET
dem-1052	275	46	overall	overall	ADJ
dem-1052	275	47	pursuit	pursuit	NOUN
dem-1052	275	48	for	for	ADP
dem-1052	275	49	parsimony	parsimony	NOUN
dem-1052	275	50	.	.	PUNCT
dem-1052	276	1	4.2.2	4.2.2	X
dem-1052	276	2	.	.	PUNCT
dem-1052	276	3	calculating	calculate	VERB
dem-1052	276	4	the	the	DET
dem-1052	276	5	optimal	optimal	ADJ
dem-1052	276	6	-	-	PUNCT
dem-1052	276	7	replication	replication	NOUN
dem-1052	276	8	strategy	strategy	NOUN
dem-1052	276	9	cost	cost	NOUN
dem-1052	276	10	we	we	PRON
dem-1052	276	11	confine	confine	VERB
dem-1052	276	12	our	our	PRON
dem-1052	276	13	further	further	ADJ
dem-1052	276	14	considerations	consideration	NOUN
dem-1052	276	15	to	to	ADP
dem-1052	276	16	the	the	DET
dem-1052	276	17	jd(1)j	jd(1)j	NOUN
dem-1052	276	18	model	model	NOUN
dem-1052	276	19	.	.	PUNCT
dem-1052	277	1	it	it	PRON
dem-1052	277	2	is	be	AUX
dem-1052	277	3	known	know	VERB
dem-1052	277	4	that	that	SCONJ
dem-1052	277	5	markets	market	NOUN
dem-1052	277	6	are	be	AUX
dem-1052	277	7	incomplete	incomplete	ADJ
dem-1052	277	8	when	when	SCONJ
dem-1052	277	9	sources	source	NOUN
dem-1052	277	10	of	of	ADP
dem-1052	277	11	randomness	randomness	NOUN
dem-1052	277	12	outnumber	outnumber	ADV
dem-1052	277	13	the	the	DET
dem-1052	277	14	underlying	underlie	VERB
dem-1052	277	15	traded	trade	VERB
dem-1052	277	16	risky	risky	ADJ
dem-1052	277	17	instruments	instrument	NOUN
dem-1052	277	18	(	(	PUNCT
dem-1052	277	19	björk	björk	NOUN
dem-1052	277	20	,	,	PUNCT
dem-1052	277	21	2004	2004	NUM
dem-1052	277	22	)	)	PUNCT
dem-1052	277	23	.	.	PUNCT
dem-1052	278	1	in	in	ADP
dem-1052	278	2	the	the	DET
dem-1052	278	3	jd(1)j	jd(1)j	NOUN
dem-1052	278	4	specification	specification	NOUN
dem-1052	278	5	there	there	PRON
dem-1052	278	6	are	be	VERB
dem-1052	278	7	three	three	NUM
dem-1052	278	8	sources	source	NOUN
dem-1052	278	9	of	of	ADP
dem-1052	278	10	randomness	randomness	NOUN
dem-1052	278	11	–	–	PUNCT
dem-1052	278	12	the	the	DET
dem-1052	278	13	wiener	wiener	NOUN
dem-1052	278	14	process	process	NOUN
dem-1052	278	15	w	w	PROPN
dem-1052	278	16	,	,	PUNCT
dem-1052	278	17	the	the	DET
dem-1052	278	18	poisson	poisson	NOUN
dem-1052	278	19	process	process	NOUN
dem-1052	278	20	n	n	CCONJ
dem-1052	278	21	,	,	PUNCT
dem-1052	278	22	and	and	CCONJ
dem-1052	278	23	random	random	ADJ
dem-1052	278	24	variables	variable	NOUN
dem-1052	278	25	q	q	X
dem-1052	278	26	.	.	PUNCT
dem-1052	279	1	in	in	ADP
dem-1052	279	2	our	our	PRON
dem-1052	279	3	setting	setting	NOUN
dem-1052	279	4	we	we	PRON
dem-1052	279	5	consider	consider	VERB
dem-1052	279	6	a	a	DET
dem-1052	279	7	market	market	NOUN
dem-1052	279	8	with	with	ADP
dem-1052	279	9	only	only	ADV
dem-1052	279	10	one	one	NUM
dem-1052	279	11	risky	risky	ADJ
dem-1052	279	12	underlying	underlying	ADJ
dem-1052	279	13	instrument	instrument	NOUN
dem-1052	279	14	(	(	PUNCT
dem-1052	279	15	a	a	DET
dem-1052	279	16	stock	stock	NOUN
dem-1052	279	17	market	market	NOUN
dem-1052	279	18	index	index	NOUN
dem-1052	279	19	)	)	PUNCT
dem-1052	279	20	accompanied	accompany	VERB
dem-1052	279	21	by	by	ADP
dem-1052	279	22	as	as	ADV
dem-1052	279	23	much	much	ADJ
dem-1052	279	24	as	as	ADP
dem-1052	279	25	three	three	NUM
dem-1052	279	26	sources	source	NOUN
dem-1052	279	27	of	of	ADP
dem-1052	279	28	randomness	randomness	NOUN
dem-1052	279	29	,	,	PUNCT
dem-1052	279	30	so	so	SCONJ
dem-1052	279	31	the	the	DET
dem-1052	279	32	market	market	NOUN
dem-1052	279	33	is	be	AUX
dem-1052	279	34	incomplete	incomplete	ADJ
dem-1052	279	35	.	.	PUNCT
dem-1052	280	1	therefore	therefore	ADV
dem-1052	280	2	,	,	PUNCT
dem-1052	280	3	we	we	PRON
dem-1052	280	4	resort	resort	VERB
dem-1052	280	5	to	to	ADP
dem-1052	280	6	the	the	DET
dem-1052	280	7	optimal	optimal	ADJ
dem-1052	280	8	-	-	PUNCT
dem-1052	280	9	replication	replication	NOUN
dem-1052	280	10	strategies	strategy	NOUN
dem-1052	280	11	for	for	ADP
dem-1052	280	12	selected	select	VERB
dem-1052	280	13	options	option	NOUN
dem-1052	280	14	.	.	PUNCT
dem-1052	281	1	let	let	VERB
dem-1052	281	2	us	we	PRON
dem-1052	281	3	consider	consider	VERB
dem-1052	281	4	two	two	NUM
dem-1052	281	5	european	european	ADJ
dem-1052	281	6	call	call	NOUN
dem-1052	281	7	options	option	NOUN
dem-1052	281	8	.	.	PUNCT
dem-1052	282	1	a	a	DET
dem-1052	282	2	date	date	NOUN
dem-1052	282	3	of	of	ADP
dem-1052	282	4	pricing	pricing	NOUN
dem-1052	282	5	of	of	ADP
dem-1052	282	6	the	the	DET
dem-1052	282	7	optimal	optimal	ADJ
dem-1052	282	8	strategy	strategy	NOUN
dem-1052	282	9	is	be	AUX
dem-1052	282	10	july	july	PROPN
dem-1052	282	11	11	11	NUM
dem-1052	282	12	,	,	PUNCT
dem-1052	282	13	2011	2011	NUM
dem-1052	282	14	,	,	PUNCT
dem-1052	282	15	and	and	CCONJ
dem-1052	282	16	the	the	DET
dem-1052	282	17	maturity	maturity	NOUN
dem-1052	282	18	date	date	NOUN
dem-1052	282	19	t	t	PROPN
dem-1052	282	20	of	of	ADP
dem-1052	282	21	the	the	DET
dem-1052	282	22	options	option	NOUN
dem-1052	282	23	is	be	AUX
dem-1052	282	24	july	july	PROPN
dem-1052	282	25	15	15	NUM
dem-1052	282	26	,	,	PUNCT
dem-1052	282	27	2011	2011	NUM
dem-1052	282	28	.	.	PUNCT
dem-1052	283	1	strike	strike	NOUN
dem-1052	283	2	prices	price	NOUN
dem-1052	283	3	equal	equal	VERB
dem-1052	283	4	590	590	NUM
dem-1052	283	5	=	=	SYM
dem-1052	283	6	k	k	PROPN
dem-1052	283	7	and	and	CCONJ
dem-1052	283	8	610	610	NUM
dem-1052	283	9	=	=	SYM
dem-1052	283	10	k	k	X
dem-1052	283	11	.	.	PUNCT
dem-1052	284	1	the	the	DET
dem-1052	284	2	closing	close	VERB
dem-1052	284	3	quotation	quotation	NOUN
dem-1052	284	4	of	of	ADP
dem-1052	284	5	the	the	DET
dem-1052	284	6	6	6	NUM
dem-1052	284	7	the	the	DET
dem-1052	284	8	barndorff	barndorff	PROPN
dem-1052	284	9	-	-	PUNCT
dem-1052	284	10	nielsen	nielsen	PROPN
dem-1052	284	11	and	and	CCONJ
dem-1052	284	12	shephard	shephard	PROPN
dem-1052	284	13	’s	’s	PART
dem-1052	284	14	nonparametric	nonparametric	PROPN
dem-1052	284	15	test	test	NOUN
dem-1052	284	16	reject	reject	VERB
dem-1052	284	17	the	the	DET
dem-1052	284	18	pure	pure	ADJ
dem-1052	284	19	diffusion	diffusion	NOUN
dem-1052	284	20	at	at	ADP
dem-1052	284	21	significance	significance	NOUN
dem-1052	284	22	level	level	NOUN
dem-1052	284	23	0.05	0.05	NUM
dem-1052	284	24	(	(	PUNCT
dem-1052	284	25	p	p	NOUN
dem-1052	284	26	-	-	PUNCT
dem-1052	284	27	value	value	NOUN
dem-1052	284	28	equals	equal	VERB
dem-1052	284	29	0.011	0.011	NUM
dem-1052	284	30	)	)	PUNCT
dem-1052	284	31	.	.	PUNCT
dem-1052	285	1	maciej	maciej	PROPN
dem-1052	285	2	kostrzewski	kostrzewski	PROPN
dem-1052	285	3	dynamic	dynamic	ADJ
dem-1052	285	4	econometric	econometric	ADJ
dem-1052	285	5	models	model	NOUN
dem-1052	285	6	12	12	NUM
dem-1052	285	7	(	(	PUNCT
dem-1052	285	8	2012	2012	NUM
dem-1052	285	9	)	)	PUNCT
dem-1052	285	10	53–71	53–71	NOUN
dem-1052	285	11	68	68	NUM
dem-1052	285	12	s&p100	s&p100	NOUN
dem-1052	285	13	index	index	NOUN
dem-1052	285	14	on	on	ADP
dem-1052	285	15	july	july	PROPN
dem-1052	285	16	11	11	NUM
dem-1052	285	17	,	,	PUNCT
dem-1052	285	18	2011	2011	NUM
dem-1052	285	19	equals	equal	VERB
dem-1052	285	20	588.15	588.15	NUM
dem-1052	285	21	.	.	PUNCT
dem-1052	286	1	both	both	PRON
dem-1052	286	2	of	of	ADP
dem-1052	286	3	the	the	DET
dem-1052	286	4	options	option	NOUN
dem-1052	286	5	are	be	AUX
dem-1052	286	6	out	out	ADP
dem-1052	286	7	of	of	ADP
dem-1052	286	8	the	the	DET
dem-1052	286	9	money	money	NOUN
dem-1052	286	10	.	.	PUNCT
dem-1052	287	1	the	the	DET
dem-1052	287	2	riskless	riskless	NOUN
dem-1052	287	3	interest	interest	NOUN
dem-1052	287	4	rate	rate	NOUN
dem-1052	287	5	is	be	AUX
dem-1052	287	6	set	set	VERB
dem-1052	287	7	at	at	ADP
dem-1052	287	8	0075.0	0075.0	NUM
dem-1052	287	9	=	=	NOUN
dem-1052	287	10	r	r	NOUN
dem-1052	288	1	and	and	CCONJ
dem-1052	288	2	it	it	PRON
dem-1052	288	3	equals	equal	VERB
dem-1052	288	4	the	the	DET
dem-1052	288	5	fed	fed	PROPN
dem-1052	288	6	funds	fund	NOUN
dem-1052	288	7	discount	discount	NOUN
dem-1052	288	8	rate	rate	NOUN
dem-1052	288	9	at	at	ADP
dem-1052	288	10	the	the	DET
dem-1052	288	11	considered	consider	VERB
dem-1052	288	12	option	option	NOUN
dem-1052	288	13	duration	duration	NOUN
dem-1052	288	14	.	.	PUNCT
dem-1052	289	1	table	table	NOUN
dem-1052	289	2	5	5	NUM
dem-1052	289	3	presents	present	VERB
dem-1052	289	4	posterior	posterior	ADJ
dem-1052	289	5	means	mean	NOUN
dem-1052	289	6	and	and	CCONJ
dem-1052	289	7	standard	standard	ADJ
dem-1052	289	8	deviations	deviation	NOUN
dem-1052	289	9	(	(	PUNCT
dem-1052	289	10	in	in	ADP
dem-1052	289	11	parentheses	parenthesis	NOUN
dem-1052	289	12	)	)	PUNCT
dem-1052	289	13	of	of	ADP
dem-1052	289	14	the	the	DET
dem-1052	289	15	optimal	optimal	ADJ
dem-1052	289	16	-	-	PUNCT
dem-1052	289	17	replication	replication	NOUN
dem-1052	289	18	strategy	strategy	NOUN
dem-1052	289	19	(	(	PUNCT
dem-1052	289	20	initial	initial	ADJ
dem-1052	289	21	)	)	PUNCT
dem-1052	289	22	cost	cost	NOUN
dem-1052	289	23	*	*	PUNCT
dem-1052	290	1	0v	0v	NOUN
dem-1052	290	2	and	and	CCONJ
dem-1052	290	3	the	the	DET
dem-1052	290	4	relative	relative	ADJ
dem-1052	290	5	measure	measure	NOUN
dem-1052	290	6	of	of	ADP
dem-1052	290	7	the	the	DET
dem-1052	290	8	market	market	NOUN
dem-1052	290	9	incompleteness	incompleteness	NOUN
dem-1052	290	10	∗ε	∗ε	PROPN
dem-1052	290	11	for	for	ADP
dem-1052	290	12	each	each	DET
dem-1052	290	13	strike	strike	NOUN
dem-1052	290	14	price	price	NOUN
dem-1052	290	15	.	.	PUNCT
dem-1052	291	1	on	on	ADP
dem-1052	291	2	the	the	DET
dem-1052	291	3	day	day	NOUN
dem-1052	291	4	of	of	ADP
dem-1052	291	5	the	the	DET
dem-1052	291	6	pricing	pricing	NOUN
dem-1052	291	7	,	,	PUNCT
dem-1052	291	8	according	accord	VERB
dem-1052	291	9	to	to	ADP
dem-1052	291	10	our	our	PRON
dem-1052	291	11	knowledge	knowledge	NOUN
dem-1052	291	12	,	,	PUNCT
dem-1052	291	13	there	there	PRON
dem-1052	291	14	were	be	VERB
dem-1052	291	15	no	no	DET
dem-1052	291	16	transactions	transaction	NOUN
dem-1052	291	17	of	of	ADP
dem-1052	291	18	selling	sell	VERB
dem-1052	291	19	the	the	DET
dem-1052	291	20	considered	consider	VERB
dem-1052	291	21	options	option	NOUN
dem-1052	291	22	.	.	PUNCT
dem-1052	292	1	table	table	NOUN
dem-1052	292	2	5	5	NUM
dem-1052	292	3	.	.	PUNCT
dem-1052	292	4	posterior	posterior	ADJ
dem-1052	292	5	means	mean	NOUN
dem-1052	292	6	(	(	PUNCT
dem-1052	292	7	and	and	CCONJ
dem-1052	292	8	standard	standard	ADJ
dem-1052	292	9	deviations	deviation	NOUN
dem-1052	292	10	)	)	PUNCT
dem-1052	292	11	of	of	ADP
dem-1052	292	12	*	*	PUNCT
dem-1052	292	13	0v	0v	NOUN
dem-1052	292	14	and	and	CCONJ
dem-1052	292	15	∗ε	∗ε	NOUN
dem-1052	292	16	calculated	calculate	VERB
dem-1052	292	17	for	for	ADP
dem-1052	292	18	the	the	DET
dem-1052	292	19	s&p100	s&p100	ADJ
dem-1052	292	20	index	index	NOUN
dem-1052	292	21	as	as	ADP
dem-1052	292	22	an	an	DET
dem-1052	292	23	underlying	underlie	VERB
dem-1052	292	24	instrument	instrument	NOUN
dem-1052	292	25	quantity	quantity	NOUN
dem-1052	292	26	k=590	k=590	PROPN
dem-1052	292	27	k=610	k=610	PROPN
dem-1052	292	28	*	*	PUNCT
dem-1052	293	1	0v	0v	NOUN
dem-1052	293	2	12.12	12.12	NUM
dem-1052	293	3	(	(	PUNCT
dem-1052	293	4	2.8927	2.8927	NUM
dem-1052	293	5	)	)	PUNCT
dem-1052	293	6	6.619	6.619	NUM
dem-1052	293	7	(	(	PUNCT
dem-1052	293	8	3.0739	3.0739	NUM
dem-1052	293	9	)	)	PUNCT
dem-1052	293	10	*	*	PUNCT
dem-1052	293	11	ε	ε	PROPN
dem-1052	293	12	35.68	35.68	NUM
dem-1052	293	13	(	(	PUNCT
dem-1052	293	14	11.6726	11.6726	NUM
dem-1052	293	15	)	)	PUNCT
dem-1052	293	16	35.47	35.47	NUM
dem-1052	293	17	(	(	PUNCT
dem-1052	293	18	12.8357	12.8357	NUM
dem-1052	293	19	)	)	PUNCT
dem-1052	293	20	table	table	NOUN
dem-1052	293	21	6	6	NUM
dem-1052	293	22	contains	contain	VERB
dem-1052	293	23	quantiles	quantile	NOUN
dem-1052	293	24	of	of	ADP
dem-1052	293	25	the	the	DET
dem-1052	293	26	posterior	posterior	ADJ
dem-1052	293	27	distributions	distribution	NOUN
dem-1052	293	28	of	of	ADP
dem-1052	293	29	*	*	PUNCT
dem-1052	293	30	0v	0v	NOUN
dem-1052	293	31	and	and	CCONJ
dem-1052	293	32	∗ε	∗ε	NOUN
dem-1052	293	33	.	.	PUNCT
dem-1052	294	1	in	in	ADP
dem-1052	294	2	general	general	ADJ
dem-1052	294	3	,	,	PUNCT
dem-1052	294	4	the	the	DET
dem-1052	294	5	call	call	NOUN
dem-1052	294	6	option	option	NOUN
dem-1052	294	7	with	with	ADP
dem-1052	294	8	a	a	DET
dem-1052	294	9	lower	low	ADJ
dem-1052	294	10	strike	strike	NOUN
dem-1052	294	11	price	price	NOUN
dem-1052	294	12	is	be	AUX
dem-1052	294	13	more	more	ADV
dem-1052	294	14	expensive	expensive	ADJ
dem-1052	294	15	than	than	ADP
dem-1052	294	16	the	the	DET
dem-1052	294	17	option	option	NOUN
dem-1052	294	18	with	with	ADP
dem-1052	294	19	a	a	DET
dem-1052	294	20	higher	high	ADJ
dem-1052	294	21	strike	strike	NOUN
dem-1052	294	22	price	price	NOUN
dem-1052	294	23	.	.	PUNCT
dem-1052	295	1	note	note	VERB
dem-1052	295	2	that	that	SCONJ
dem-1052	295	3	the	the	DET
dem-1052	295	4	cost	cost	NOUN
dem-1052	295	5	of	of	ADP
dem-1052	295	6	the	the	DET
dem-1052	295	7	optimal	optimal	ADJ
dem-1052	295	8	-	-	PUNCT
dem-1052	295	9	replication	replication	NOUN
dem-1052	295	10	strategy	strategy	NOUN
dem-1052	295	11	*	*	PUNCT
dem-1052	296	1	0v	0v	NOUN
dem-1052	296	2	is	be	AUX
dem-1052	296	3	higher	high	ADJ
dem-1052	296	4	for	for	ADP
dem-1052	296	5	the	the	DET
dem-1052	296	6	more	more	ADV
dem-1052	296	7	attractive	attractive	ADJ
dem-1052	296	8	option	option	NOUN
dem-1052	296	9	.	.	PUNCT
dem-1052	297	1	table	table	NOUN
dem-1052	297	2	6	6	NUM
dem-1052	297	3	.	.	PUNCT
dem-1052	298	1	quantiles	quantile	NOUN
dem-1052	298	2	of	of	ADP
dem-1052	298	3	the	the	DET
dem-1052	298	4	posterior	posterior	ADJ
dem-1052	298	5	distributions	distribution	NOUN
dem-1052	298	6	of	of	ADP
dem-1052	298	7	*	*	PUNCT
dem-1052	298	8	0v	0v	NOUN
dem-1052	298	9	and	and	CCONJ
dem-1052	298	10	∗ε	∗ε	NOUN
dem-1052	298	11	calculated	calculate	VERB
dem-1052	298	12	for	for	ADP
dem-1052	298	13	the	the	DET
dem-1052	298	14	s&p100	s&p100	ADJ
dem-1052	298	15	index	index	NOUN
dem-1052	298	16	as	as	ADP
dem-1052	298	17	an	an	DET
dem-1052	298	18	underlying	underlie	VERB
dem-1052	298	19	instrument	instrument	NOUN
dem-1052	298	20	orders	order	NOUN
dem-1052	298	21	of	of	ADP
dem-1052	298	22	the	the	DET
dem-1052	298	23	quantiles	quantile	NOUN
dem-1052	298	24	k=590	k=590	PROPN
dem-1052	298	25	k=610	k=610	X
dem-1052	298	26	*	*	PUNCT
dem-1052	299	1	0v	0v	NOUN
dem-1052	299	2	*	*	PUNCT
dem-1052	299	3	ε	ε	PROPN
dem-1052	299	4	*	*	PUNCT
dem-1052	299	5	0v	0v	NOUN
dem-1052	299	6	*	*	PUNCT
dem-1052	299	7	ε	ε	PROPN
dem-1052	299	8	5	5	NUM
dem-1052	299	9	%	%	NOUN
dem-1052	299	10	8.4071	8.4071	NUM
dem-1052	299	11	20.2538	20.2538	NUM
dem-1052	299	12	2.2598	2.2598	NUM
dem-1052	299	13	16.2821	16.2821	NUM
dem-1052	299	14	25	25	NUM
dem-1052	299	15	%	%	NOUN
dem-1052	299	16	9.9695	9.9695	NUM
dem-1052	299	17	27.0364	27.0364	NUM
dem-1052	299	18	4.6371	4.6371	NUM
dem-1052	299	19	26.7550	26.7550	NUM
dem-1052	299	20	50	50	NUM
dem-1052	299	21	%	%	NOUN
dem-1052	299	22	11.4782	11.4782	NUM
dem-1052	299	23	32.7958	32.7958	NUM
dem-1052	299	24	6.2447	6.2447	NUM
dem-1052	299	25	33.4317	33.4317	NUM
dem-1052	299	26	75	75	NUM
dem-1052	299	27	%	%	NOUN
dem-1052	299	28	13.5252	13.5252	NUM
dem-1052	299	29	42.2325	42.2325	NUM
dem-1052	299	30	8.1295	8.1295	NUM
dem-1052	299	31	43.2222	43.2222	NUM
dem-1052	299	32	95	95	NUM
dem-1052	299	33	%	%	NOUN
dem-1052	299	34	17.8427	17.8427	NUM
dem-1052	299	35	57.2116	57.2116	NUM
dem-1052	299	36	12.6826	12.6826	NUM
dem-1052	299	37	58.7495	58.7495	NUM
dem-1052	299	38	figures	figure	NOUN
dem-1052	299	39	6	6	NUM
dem-1052	299	40	and	and	CCONJ
dem-1052	299	41	7	7	NUM
dem-1052	299	42	display	display	NOUN
dem-1052	299	43	histograms	histogram	NOUN
dem-1052	299	44	of	of	ADP
dem-1052	299	45	the	the	DET
dem-1052	299	46	posterior	posterior	ADJ
dem-1052	299	47	distributions	distribution	NOUN
dem-1052	299	48	of	of	ADP
dem-1052	299	49	the	the	DET
dem-1052	299	50	optimal	optimal	ADJ
dem-1052	299	51	-	-	PUNCT
dem-1052	299	52	replication	replication	NOUN
dem-1052	299	53	strategy	strategy	NOUN
dem-1052	299	54	cost	cost	NOUN
dem-1052	299	55	*	*	PUNCT
dem-1052	300	1	0v	0v	NOUN
dem-1052	300	2	and	and	CCONJ
dem-1052	300	3	the	the	DET
dem-1052	300	4	relative	relative	ADJ
dem-1052	300	5	measure	measure	NOUN
dem-1052	300	6	of	of	ADP
dem-1052	300	7	the	the	DET
dem-1052	300	8	market	market	NOUN
dem-1052	300	9	incompleteness	incompleteness	NOUN
dem-1052	300	10	∗ε	∗ε	PROPN
dem-1052	300	11	.	.	PUNCT
dem-1052	301	1	these	these	DET
dem-1052	301	2	histograms	histogram	NOUN
dem-1052	301	3	are	be	AUX
dem-1052	301	4	based	base	VERB
dem-1052	301	5	on	on	ADP
dem-1052	301	6	(	(	PUNCT
dem-1052	301	7	only	only	ADV
dem-1052	301	8	)	)	PUNCT
dem-1052	301	9	150	150	NUM
dem-1052	301	10	(	(	PUNCT
dem-1052	301	11	randomly	randomly	ADV
dem-1052	301	12	chosen	choose	VERB
dem-1052	301	13	)	)	PUNCT
dem-1052	301	14	states	state	NOUN
dem-1052	301	15	of	of	ADP
dem-1052	301	16	the	the	DET
dem-1052	301	17	markov	markov	NOUN
dem-1052	301	18	chains	chain	NOUN
dem-1052	301	19	.	.	PUNCT
dem-1052	302	1	the	the	DET
dem-1052	302	2	reason	reason	NOUN
dem-1052	302	3	behind	behind	ADP
dem-1052	302	4	such	such	DET
dem-1052	302	5	a	a	DET
dem-1052	302	6	small	small	ADJ
dem-1052	302	7	sample	sample	NOUN
dem-1052	302	8	is	be	AUX
dem-1052	302	9	timeconsuming	timeconsuming	ADJ
dem-1052	302	10	calculations	calculation	NOUN
dem-1052	302	11	of	of	ADP
dem-1052	302	12	the	the	DET
dem-1052	302	13	optimal	optimal	ADJ
dem-1052	302	14	-	-	PUNCT
dem-1052	302	15	replication	replication	NOUN
dem-1052	302	16	strategy	strategy	NOUN
dem-1052	302	17	for	for	ADP
dem-1052	302	18	each	each	DET
dem-1052	302	19	parameter	parameter	NOUN
dem-1052	302	20	vector	vector	NOUN
dem-1052	302	21	.	.	PUNCT
dem-1052	303	1	these	these	DET
dem-1052	303	2	calculations	calculation	NOUN
dem-1052	303	3	took	take	VERB
dem-1052	303	4	about	about	ADV
dem-1052	303	5	twenty	twenty	NUM
dem-1052	303	6	hours	hour	NOUN
dem-1052	303	7	on	on	ADP
dem-1052	303	8	a	a	DET
dem-1052	303	9	standard	standard	ADJ
dem-1052	303	10	pc	pc	NOUN
dem-1052	303	11	.	.	PUNCT
dem-1052	304	1	the	the	DET
dem-1052	304	2	application	application	NOUN
dem-1052	304	3	of	of	ADP
dem-1052	304	4	parallel	parallel	ADJ
dem-1052	304	5	calculations	calculation	NOUN
dem-1052	304	6	reduced	reduce	VERB
dem-1052	304	7	that	that	DET
dem-1052	304	8	time	time	NOUN
dem-1052	304	9	to	to	ADP
dem-1052	304	10	seven	seven	NUM
dem-1052	304	11	hours	hour	NOUN
dem-1052	304	12	.	.	PUNCT
dem-1052	305	1	a	a	DET
dem-1052	305	2	fairly	fairly	ADV
dem-1052	305	3	large	large	ADJ
dem-1052	305	4	dispersion	dispersion	NOUN
dem-1052	305	5	of	of	ADP
dem-1052	305	6	the	the	DET
dem-1052	305	7	posterior	posterior	ADJ
dem-1052	305	8	distributions	distribution	NOUN
dem-1052	305	9	of	of	ADP
dem-1052	305	10	*	*	PUNCT
dem-1052	305	11	0v	0v	NOUN
dem-1052	305	12	and	and	CCONJ
dem-1052	305	13	∗ε	∗ε	NOUN
dem-1052	305	14	may	may	AUX
dem-1052	305	15	stem	stem	VERB
dem-1052	305	16	from	from	ADP
dem-1052	305	17	a	a	DET
dem-1052	305	18	relatively	relatively	ADV
dem-1052	305	19	large	large	ADJ
dem-1052	305	20	parameter	parameter	NOUN
dem-1052	305	21	uncertainty	uncertainty	NOUN
dem-1052	305	22	(	(	PUNCT
dem-1052	305	23	as	as	SCONJ
dem-1052	305	24	evidenced	evidence	VERB
dem-1052	305	25	by	by	ADP
dem-1052	305	26	the	the	DET
dem-1052	305	27	posterior	posterior	ADJ
dem-1052	305	28	standard	standard	ADJ
dem-1052	305	29	deviations	deviation	NOUN
dem-1052	305	30	)	)	PUNCT
dem-1052	305	31	.	.	PUNCT
dem-1052	306	1	bayesian	bayesian	NOUN
dem-1052	306	2	pricing	pricing	NOUN
dem-1052	306	3	of	of	ADP
dem-1052	306	4	the	the	DET
dem-1052	306	5	optimal	optimal	ADJ
dem-1052	306	6	-	-	PUNCT
dem-1052	306	7	replication	replication	NOUN
dem-1052	306	8	strategy	strategy	NOUN
dem-1052	306	9	for	for	ADP
dem-1052	306	10	the	the	DET
dem-1052	306	11	european	european	ADJ
dem-1052	306	12	option	option	NOUN
dem-1052	306	13	…	…	PUNCT
dem-1052	306	14	dynamic	dynamic	ADJ
dem-1052	306	15	econometric	econometric	ADJ
dem-1052	306	16	models	model	NOUN
dem-1052	306	17	12	12	NUM
dem-1052	306	18	(	(	PUNCT
dem-1052	306	19	2012	2012	NUM
dem-1052	306	20	)	)	PUNCT
dem-1052	306	21	53–71	53–71	NOUN
dem-1052	306	22	69	69	NUM
dem-1052	306	23	v0	v0	NOUN
dem-1052	306	24	*	*	PUNCT
dem-1052	306	25	for	for	ADP
dem-1052	306	26	k=590	k=590	PROPN
dem-1052	306	27	5	5	NUM
dem-1052	306	28	10	10	NUM
dem-1052	306	29	15	15	NUM
dem-1052	306	30	20	20	NUM
dem-1052	306	31	25	25	NUM
dem-1052	306	32	0	0	NUM
dem-1052	306	33	.	.	PUNCT
dem-1052	306	34	00	00	NUM
dem-1052	307	1	0	0	NUM
dem-1052	307	2	.	.	PUNCT
dem-1052	308	1	05	05	NUM
dem-1052	308	2	0	0	NUM
dem-1052	308	3	.	.	PUNCT
dem-1052	309	1	10	10	NUM
dem-1052	309	2	0	0	NUM
dem-1052	309	3	.	.	NOUN
dem-1052	309	4	15	15	NUM
dem-1052	309	5	∗ε	∗ε	NOUN
dem-1052	309	6	for	for	ADP
dem-1052	309	7	k=590	k=590	PROPN
dem-1052	309	8	10	10	NUM
dem-1052	309	9	20	20	NUM
dem-1052	309	10	30	30	NUM
dem-1052	309	11	40	40	NUM
dem-1052	309	12	50	50	NUM
dem-1052	309	13	60	60	NUM
dem-1052	309	14	70	70	NUM
dem-1052	309	15	80	80	NUM
dem-1052	309	16	0	0	NUM
dem-1052	309	17	.	.	PUNCT
dem-1052	309	18	00	00	NUM
dem-1052	309	19	0	0	NUM
dem-1052	309	20	0	0	NUM
dem-1052	309	21	.	.	PUNCT
dem-1052	309	22	00	00	NUM
dem-1052	310	1	5	5	NUM
dem-1052	310	2	0	0	NUM
dem-1052	310	3	.	.	PUNCT
dem-1052	311	1	01	01	NUM
dem-1052	311	2	0	0	NUM
dem-1052	311	3	0	0	NUM
dem-1052	311	4	.	.	PUNCT
dem-1052	311	5	01	01	NUM
dem-1052	311	6	5	5	NUM
dem-1052	311	7	0	0	NUM
dem-1052	311	8	.	.	PUNCT
dem-1052	312	1	02	02	NUM
dem-1052	312	2	0	0	NUM
dem-1052	312	3	0	0	NUM
dem-1052	312	4	.	.	PUNCT
dem-1052	312	5	02	02	NUM
dem-1052	312	6	5	5	NUM
dem-1052	312	7	0	0	NUM
dem-1052	312	8	.	.	PUNCT
dem-1052	312	9	03	03	NUM
dem-1052	312	10	0	0	NUM
dem-1052	312	11	figure	figure	NOUN
dem-1052	312	12	6	6	NUM
dem-1052	312	13	.	.	PUNCT
dem-1052	313	1	histograms	histogram	NOUN
dem-1052	313	2	of	of	ADP
dem-1052	313	3	the	the	DET
dem-1052	313	4	posterior	posterior	ADJ
dem-1052	313	5	distributions	distribution	NOUN
dem-1052	313	6	of	of	ADP
dem-1052	313	7	*	*	PUNCT
dem-1052	313	8	0v	0v	NOUN
dem-1052	313	9	and	and	CCONJ
dem-1052	313	10	∗ε	∗ε	NOUN
dem-1052	313	11	for	for	ADP
dem-1052	313	12	590	590	NUM
dem-1052	313	13	=	=	SYM
dem-1052	313	14	k	k	PROPN
dem-1052	313	15	v0	v0	NOUN
dem-1052	313	16	*	*	PUNCT
dem-1052	313	17	for	for	ADP
dem-1052	313	18	k=610	k=610	X
dem-1052	313	19	0	0	NUM
dem-1052	313	20	5	5	NUM
dem-1052	313	21	10	10	NUM
dem-1052	313	22	15	15	NUM
dem-1052	313	23	0	0	NUM
dem-1052	313	24	.	.	PUNCT
dem-1052	313	25	00	00	NUM
dem-1052	313	26	0	0	NUM
dem-1052	313	27	.	.	PUNCT
dem-1052	314	1	05	05	NUM
dem-1052	314	2	0	0	NUM
dem-1052	314	3	.	.	PUNCT
dem-1052	315	1	10	10	NUM
dem-1052	315	2	0	0	NUM
dem-1052	315	3	.	.	NOUN
dem-1052	315	4	15	15	NUM
dem-1052	315	5	∗ε	∗ε	NOUN
dem-1052	315	6	for	for	ADP
dem-1052	315	7	k=610	k=610	X
dem-1052	315	8	0	0	NUM
dem-1052	315	9	20	20	NUM
dem-1052	315	10	40	40	NUM
dem-1052	315	11	60	60	NUM
dem-1052	315	12	80	80	NUM
dem-1052	315	13	0	0	NUM
dem-1052	315	14	.	.	PUNCT
dem-1052	315	15	00	00	NUM
dem-1052	315	16	0	0	NUM
dem-1052	315	17	0	0	NUM
dem-1052	315	18	.	.	PUNCT
dem-1052	315	19	00	00	NUM
dem-1052	316	1	5	5	NUM
dem-1052	316	2	0	0	NUM
dem-1052	316	3	.	.	PUNCT
dem-1052	317	1	01	01	NUM
dem-1052	317	2	0	0	NUM
dem-1052	317	3	0	0	NUM
dem-1052	317	4	.	.	PUNCT
dem-1052	317	5	01	01	NUM
dem-1052	317	6	5	5	NUM
dem-1052	317	7	0	0	NUM
dem-1052	317	8	.	.	PUNCT
dem-1052	318	1	02	02	NUM
dem-1052	318	2	0	0	NUM
dem-1052	318	3	0	0	NUM
dem-1052	318	4	.	.	PUNCT
dem-1052	318	5	02	02	NUM
dem-1052	318	6	5	5	NUM
dem-1052	318	7	0	0	NUM
dem-1052	318	8	.	.	PUNCT
dem-1052	318	9	03	03	NUM
dem-1052	318	10	0	0	NUM
dem-1052	318	11	figure	figure	NOUN
dem-1052	318	12	7	7	NUM
dem-1052	318	13	.	.	PUNCT
dem-1052	319	1	histograms	histogram	NOUN
dem-1052	319	2	of	of	ADP
dem-1052	319	3	the	the	DET
dem-1052	319	4	posterior	posterior	ADJ
dem-1052	319	5	distributions	distribution	NOUN
dem-1052	319	6	of	of	ADP
dem-1052	319	7	*	*	PUNCT
dem-1052	319	8	0v	0v	NOUN
dem-1052	319	9	and	and	CCONJ
dem-1052	319	10	∗ε	∗ε	NOUN
dem-1052	319	11	for	for	ADP
dem-1052	319	12	610	610	NUM
dem-1052	319	13	=	=	SYM
dem-1052	319	14	k	k	PROPN
dem-1052	319	15	5	5	NUM
dem-1052	319	16	.	.	PUNCT
dem-1052	320	1	conclusions	conclusion	NOUN
dem-1052	320	2	this	this	DET
dem-1052	320	3	paper	paper	NOUN
dem-1052	320	4	concerns	concern	VERB
dem-1052	320	5	the	the	DET
dem-1052	320	6	issue	issue	NOUN
dem-1052	320	7	of	of	ADP
dem-1052	320	8	option	option	NOUN
dem-1052	320	9	hedging	hedging	NOUN
dem-1052	320	10	in	in	ADP
dem-1052	320	11	incomplete	incomplete	ADJ
dem-1052	320	12	market	market	NOUN
dem-1052	320	13	models	model	NOUN
dem-1052	320	14	using	use	VERB
dem-1052	320	15	stochastic	stochastic	ADJ
dem-1052	320	16	dynamic	dynamic	ADJ
dem-1052	320	17	programming	programming	NOUN
dem-1052	320	18	and	and	CCONJ
dem-1052	320	19	bayesian	bayesian	NOUN
dem-1052	320	20	statistics	statistic	NOUN
dem-1052	320	21	.	.	PUNCT
dem-1052	321	1	familiar	familiar	ADJ
dem-1052	321	2	models	model	NOUN
dem-1052	321	3	of	of	ADP
dem-1052	321	4	option	option	NOUN
dem-1052	321	5	pricing	pricing	NOUN
dem-1052	321	6	are	be	AUX
dem-1052	321	7	complete	complete	ADJ
dem-1052	321	8	.	.	PUNCT
dem-1052	322	1	unfortunately	unfortunately	ADV
dem-1052	322	2	,	,	PUNCT
dem-1052	322	3	the	the	DET
dem-1052	322	4	assumptions	assumption	NOUN
dem-1052	322	5	these	these	DET
dem-1052	322	6	structures	structure	NOUN
dem-1052	322	7	usually	usually	ADV
dem-1052	322	8	rest	rest	VERB
dem-1052	322	9	upon	upon	SCONJ
dem-1052	322	10	are	be	AUX
dem-1052	322	11	quite	quite	ADV
dem-1052	322	12	unrealistic	unrealistic	ADJ
dem-1052	322	13	.	.	PUNCT
dem-1052	323	1	for	for	ADP
dem-1052	323	2	instance	instance	NOUN
dem-1052	323	3	,	,	PUNCT
dem-1052	323	4	the	the	DET
dem-1052	323	5	black	black	ADJ
dem-1052	323	6	-	-	PUNCT
dem-1052	323	7	scholes	schole	NOUN
dem-1052	323	8	model	model	NOUN
dem-1052	323	9	is	be	AUX
dem-1052	323	10	hinged	hinge	VERB
dem-1052	323	11	upon	upon	SCONJ
dem-1052	323	12	continuous	continuous	ADJ
dem-1052	323	13	trading	trading	NOUN
dem-1052	323	14	and	and	CCONJ
dem-1052	323	15	continuous	continuous	ADJ
dem-1052	323	16	paths	path	NOUN
dem-1052	323	17	of	of	ADP
dem-1052	323	18	a	a	DET
dem-1052	323	19	risky	risky	ADJ
dem-1052	323	20	underlying	underlying	ADJ
dem-1052	323	21	instrument	instrument	NOUN
dem-1052	323	22	.	.	PUNCT
dem-1052	324	1	relaxing	relax	VERB
dem-1052	324	2	these	these	DET
dem-1052	324	3	assumptions	assumption	NOUN
dem-1052	324	4	leads	lead	VERB
dem-1052	324	5	to	to	ADP
dem-1052	324	6	incomplete	incomplete	ADJ
dem-1052	324	7	market	market	NOUN
dem-1052	324	8	models	model	NOUN
dem-1052	324	9	,	,	PUNCT
dem-1052	324	10	such	such	ADJ
dem-1052	324	11	as	as	ADP
dem-1052	324	12	the	the	DET
dem-1052	324	13	jd(m)j	jd(m)j	PROPN
dem-1052	324	14	structures	structure	NOUN
dem-1052	324	15	considered	consider	VERB
dem-1052	324	16	in	in	ADP
dem-1052	324	17	the	the	DET
dem-1052	324	18	present	present	ADJ
dem-1052	324	19	study	study	NOUN
dem-1052	324	20	.	.	PUNCT
dem-1052	325	1	it	it	PRON
dem-1052	325	2	is	be	AUX
dem-1052	325	3	shown	show	VERB
dem-1052	325	4	that	that	SCONJ
dem-1052	325	5	incorporation	incorporation	NOUN
dem-1052	325	6	of	of	ADP
dem-1052	325	7	jumps	jump	NOUN
dem-1052	325	8	in	in	ADP
dem-1052	325	9	modeling	model	VERB
dem-1052	325	10	financial	financial	ADJ
dem-1052	325	11	time	time	NOUN
dem-1052	325	12	series	series	NOUN
dem-1052	325	13	may	may	AUX
dem-1052	325	14	improve	improve	VERB
dem-1052	325	15	the	the	DET
dem-1052	325	16	model	model	NOUN
dem-1052	325	17	fit	fit	ADJ
dem-1052	325	18	(	(	PUNCT
dem-1052	325	19	as	as	ADP
dem-1052	325	20	compared	compare	VERB
dem-1052	325	21	with	with	ADP
dem-1052	325	22	a	a	DET
dem-1052	325	23	pure	pure	ADJ
dem-1052	325	24	diffusion	diffusion	NOUN
dem-1052	325	25	process	process	NOUN
dem-1052	325	26	)	)	PUNCT
dem-1052	325	27	.	.	PUNCT
dem-1052	326	1	unformaciej	unformaciej	PROPN
dem-1052	326	2	kostrzewski	kostrzewski	PROPN
dem-1052	326	3	dynamic	dynamic	ADJ
dem-1052	326	4	econometric	econometric	ADJ
dem-1052	326	5	models	model	NOUN
dem-1052	326	6	12	12	NUM
dem-1052	326	7	(	(	PUNCT
dem-1052	326	8	2012	2012	NUM
dem-1052	326	9	)	)	PUNCT
dem-1052	326	10	53–71	53–71	NOUN
dem-1052	326	11	70	70	NUM
dem-1052	326	12	tunately	tunately	ADV
dem-1052	326	13	,	,	PUNCT
dem-1052	326	14	the	the	DET
dem-1052	326	15	market	market	NOUN
dem-1052	326	16	incompleteness	incompleteness	NOUN
dem-1052	326	17	in	in	ADP
dem-1052	326	18	the	the	DET
dem-1052	326	19	models	model	NOUN
dem-1052	326	20	featuring	feature	VERB
dem-1052	326	21	jumps	jump	NOUN
dem-1052	326	22	(	(	PUNCT
dem-1052	326	23	jd(m)j	jd(m)j	PROPN
dem-1052	326	24	with	with	ADP
dem-1052	326	25	m>0	m>0	PROPN
dem-1052	326	26	)	)	PUNCT
dem-1052	326	27	renders	render	VERB
dem-1052	326	28	the	the	DET
dem-1052	326	29	task	task	NOUN
dem-1052	326	30	of	of	ADP
dem-1052	326	31	pricing	pricing	NOUN
dem-1052	326	32	and	and	CCONJ
dem-1052	326	33	hedging	hedging	NOUN
dem-1052	326	34	derivatives	derivative	NOUN
dem-1052	326	35	more	more	ADV
dem-1052	326	36	demanding	demanding	ADJ
dem-1052	326	37	.	.	PUNCT
dem-1052	327	1	in	in	ADP
dem-1052	327	2	general	general	ADJ
dem-1052	327	3	,	,	PUNCT
dem-1052	327	4	as	as	SCONJ
dem-1052	327	5	the	the	DET
dem-1052	327	6	replication	replication	NOUN
dem-1052	327	7	strategy	strategy	NOUN
dem-1052	327	8	does	do	AUX
dem-1052	327	9	not	not	PART
dem-1052	327	10	exist	exist	VERB
dem-1052	327	11	,	,	PUNCT
dem-1052	327	12	the	the	DET
dem-1052	327	13	investor	investor	NOUN
dem-1052	327	14	needs	need	VERB
dem-1052	327	15	to	to	PART
dem-1052	327	16	resort	resort	VERB
dem-1052	327	17	to	to	ADP
dem-1052	327	18	some	some	DET
dem-1052	327	19	optimal	optimal	ADJ
dem-1052	327	20	strategy	strategy	NOUN
dem-1052	327	21	.	.	PUNCT
dem-1052	328	1	in	in	ADP
dem-1052	328	2	the	the	DET
dem-1052	328	3	study	study	NOUN
dem-1052	328	4	we	we	PRON
dem-1052	328	5	succeeded	succeed	VERB
dem-1052	328	6	in	in	ADP
dem-1052	328	7	employing	employ	VERB
dem-1052	328	8	the	the	DET
dem-1052	328	9	optimalreplication	optimalreplication	NOUN
dem-1052	328	10	strategy	strategy	NOUN
dem-1052	328	11	algorithm	algorithm	NOUN
dem-1052	328	12	,	,	PUNCT
dem-1052	328	13	derived	derive	VERB
dem-1052	328	14	by	by	ADP
dem-1052	328	15	bertsimas	bertsima	NOUN
dem-1052	328	16	,	,	PUNCT
dem-1052	328	17	kogan	kogan	NOUN
dem-1052	328	18	and	and	CCONJ
dem-1052	328	19	lo	lo	PROPN
dem-1052	328	20	(	(	PUNCT
dem-1052	328	21	2001	2001	NUM
dem-1052	328	22	)	)	PUNCT
dem-1052	328	23	,	,	PUNCT
dem-1052	328	24	in	in	ADP
dem-1052	328	25	the	the	DET
dem-1052	328	26	jd(m)j	jd(m)j	PROPN
dem-1052	328	27	framework	framework	NOUN
dem-1052	328	28	.	.	PUNCT
dem-1052	329	1	contrary	contrary	ADJ
dem-1052	329	2	to	to	ADP
dem-1052	329	3	what	what	PRON
dem-1052	329	4	seems	seem	VERB
dem-1052	329	5	a	a	DET
dem-1052	329	6	common	common	ADJ
dem-1052	329	7	practice	practice	NOUN
dem-1052	329	8	in	in	ADP
dem-1052	329	9	the	the	DET
dem-1052	329	10	financial	financial	ADJ
dem-1052	329	11	mathematics	mathematic	NOUN
dem-1052	329	12	works	work	NOUN
dem-1052	329	13	,	,	PUNCT
dem-1052	329	14	where	where	SCONJ
dem-1052	329	15	the	the	DET
dem-1052	329	16	model	model	NOUN
dem-1052	329	17	’s	’s	PART
dem-1052	329	18	parameters	parameter	NOUN
dem-1052	329	19	are	be	AUX
dem-1052	329	20	set	set	VERB
dem-1052	329	21	arbitrarily	arbitrarily	ADV
dem-1052	329	22	,	,	PUNCT
dem-1052	329	23	we	we	PRON
dem-1052	329	24	estimate	estimate	VERB
dem-1052	329	25	the	the	DET
dem-1052	329	26	parameters	parameter	NOUN
dem-1052	329	27	using	use	VERB
dem-1052	329	28	bayesian	bayesian	NOUN
dem-1052	329	29	methodology	methodology	NOUN
dem-1052	329	30	,	,	PUNCT
dem-1052	329	31	taking	take	VERB
dem-1052	329	32	advantage	advantage	NOUN
dem-1052	329	33	of	of	ADP
dem-1052	329	34	its	its	PRON
dem-1052	329	35	accounting	accounting	NOUN
dem-1052	329	36	for	for	ADP
dem-1052	329	37	the	the	DET
dem-1052	329	38	parameters	parameter	NOUN
dem-1052	329	39	uncertainty	uncertainty	NOUN
dem-1052	329	40	.	.	PUNCT
dem-1052	330	1	moreover	moreover	ADV
dem-1052	330	2	,	,	PUNCT
dem-1052	330	3	the	the	DET
dem-1052	330	4	results	result	NOUN
dem-1052	330	5	are	be	AUX
dem-1052	330	6	further	far	ADV
dem-1052	330	7	employed	employ	VERB
dem-1052	330	8	to	to	PART
dem-1052	330	9	infer	infer	VERB
dem-1052	330	10	upon	upon	SCONJ
dem-1052	330	11	the	the	DET
dem-1052	330	12	degree	degree	NOUN
dem-1052	330	13	of	of	ADP
dem-1052	330	14	market	market	NOUN
dem-1052	330	15	incompleteness	incompleteness	NOUN
dem-1052	330	16	as	as	ADV
dem-1052	330	17	well	well	ADV
dem-1052	330	18	as	as	ADP
dem-1052	330	19	to	to	PART
dem-1052	330	20	price	price	VERB
dem-1052	330	21	the	the	DET
dem-1052	330	22	optimalreplication	optimalreplication	NOUN
dem-1052	330	23	strategy	strategy	NOUN
dem-1052	330	24	.	.	PUNCT
dem-1052	331	1	specifically	specifically	ADV
dem-1052	331	2	,	,	PUNCT
dem-1052	331	3	posterior	posterior	ADJ
dem-1052	331	4	densities	density	NOUN
dem-1052	331	5	(	(	PUNCT
dem-1052	331	6	rather	rather	ADV
dem-1052	331	7	than	than	ADP
dem-1052	331	8	point	point	VERB
dem-1052	331	9	values	value	NOUN
dem-1052	331	10	solely	solely	ADV
dem-1052	331	11	)	)	PUNCT
dem-1052	331	12	of	of	ADP
dem-1052	331	13	both	both	CCONJ
dem-1052	331	14	the	the	DET
dem-1052	331	15	optimal	optimal	ADJ
dem-1052	331	16	strategy	strategy	NOUN
dem-1052	331	17	costs	cost	NOUN
dem-1052	331	18	along	along	ADV
dem-1052	331	19	and	and	CCONJ
dem-1052	331	20	its	its	PRON
dem-1052	331	21	relative	relative	ADJ
dem-1052	331	22	error	error	NOUN
dem-1052	331	23	are	be	AUX
dem-1052	331	24	calculated	calculate	VERB
dem-1052	331	25	(	(	PUNCT
dem-1052	331	26	using	use	VERB
dem-1052	331	27	the	the	DET
dem-1052	331	28	mcmc	mcmc	PROPN
dem-1052	331	29	techniques	technique	NOUN
dem-1052	331	30	)	)	PUNCT
dem-1052	331	31	,	,	PUNCT
dem-1052	331	32	providing	provide	VERB
dem-1052	331	33	us	we	PRON
dem-1052	331	34	with	with	ADP
dem-1052	331	35	some	some	DET
dem-1052	331	36	insight	insight	NOUN
dem-1052	331	37	into	into	ADP
dem-1052	331	38	their	their	PRON
dem-1052	331	39	uncertainty	uncertainty	NOUN
dem-1052	331	40	.	.	PUNCT
dem-1052	332	1	acknowledgements	acknowledgement	NOUN
dem-1052	332	2	useful	useful	ADJ
dem-1052	332	3	comments	comment	NOUN
dem-1052	332	4	and	and	CCONJ
dem-1052	332	5	remarks	remark	NOUN
dem-1052	332	6	by	by	ADP
dem-1052	332	7	two	two	NUM
dem-1052	332	8	anonymous	anonymous	ADJ
dem-1052	332	9	referees	referee	NOUN
dem-1052	332	10	are	be	AUX
dem-1052	332	11	highly	highly	ADV
dem-1052	332	12	appreciated	appreciated	ADJ
dem-1052	332	13	.	.	PUNCT
dem-1052	333	1	the	the	DET
dem-1052	333	2	author	author	NOUN
dem-1052	333	3	would	would	AUX
dem-1052	333	4	also	also	ADV
dem-1052	333	5	like	like	VERB
dem-1052	333	6	to	to	PART
dem-1052	333	7	thank	thank	VERB
dem-1052	333	8	łukasz	łukasz	PROPN
dem-1052	333	9	kwiatkowski	kwiatkowski	PROPN
dem-1052	333	10	for	for	ADP
dem-1052	333	11	language	language	NOUN
dem-1052	333	12	verification	verification	NOUN
dem-1052	333	13	of	of	ADP
dem-1052	333	14	the	the	DET
dem-1052	333	15	manuscript	manuscript	NOUN
dem-1052	333	16	.	.	PUNCT
dem-1052	334	1	references	reference	NOUN
dem-1052	334	2	barndorff	barndorff	PROPN
dem-1052	334	3	-	-	PUNCT
dem-1052	334	4	nielsen	nielsen	PROPN
dem-1052	334	5	,	,	PUNCT
dem-1052	334	6	o.e	o.e	PROPN
dem-1052	334	7	.	.	PROPN
dem-1052	334	8	,	,	PUNCT
dem-1052	334	9	shephard	shephard	PROPN
dem-1052	334	10	,	,	PUNCT
dem-1052	334	11	n.	n.	PROPN
dem-1052	334	12	(	(	PUNCT
dem-1052	334	13	2006	2006	NUM
dem-1052	334	14	)	)	PUNCT
dem-1052	334	15	,	,	PUNCT
dem-1052	334	16	econometrics	econometric	NOUN
dem-1052	334	17	of	of	ADP
dem-1052	334	18	testing	testing	NOUN
dem-1052	334	19	for	for	ADP
dem-1052	334	20	jumps	jump	NOUN
dem-1052	334	21	in	in	ADP
dem-1052	334	22	financial	financial	ADJ
dem-1052	334	23	economics	economic	NOUN
dem-1052	334	24	using	use	VERB
dem-1052	334	25	bipower	bipow	ADJ
dem-1052	334	26	variation	variation	NOUN
dem-1052	334	27	,	,	PUNCT
dem-1052	334	28	journal	journal	NOUN
dem-1052	334	29	of	of	ADP
dem-1052	334	30	financial	financial	ADJ
dem-1052	334	31	econometrics	econometric	NOUN
dem-1052	334	32	,	,	PUNCT
dem-1052	334	33	4	4	NUM
dem-1052	334	34	,	,	PUNCT
dem-1052	334	35	1	1	NUM
dem-1052	334	36	,	,	PUNCT
dem-1052	334	37	1–30	1–30	PROPN
dem-1052	334	38	.	.	PUNCT
dem-1052	334	39	bernardo	bernardo	PROPN
dem-1052	334	40	,	,	PUNCT
dem-1052	334	41	j.	j.	PROPN
dem-1052	334	42	m.	m.	PROPN
dem-1052	334	43	,	,	PUNCT
dem-1052	334	44	smith	smith	PROPN
dem-1052	334	45	,	,	PUNCT
dem-1052	334	46	a.	a.	PROPN
dem-1052	334	47	f.	f.	PROPN
dem-1052	334	48	m.	m.	PROPN
dem-1052	334	49	(	(	PUNCT
dem-1052	334	50	2002	2002	NUM
dem-1052	334	51	)	)	PUNCT
dem-1052	334	52	,	,	PUNCT
dem-1052	334	53	bayesian	bayesian	NOUN
dem-1052	334	54	theory	theory	NOUN
dem-1052	334	55	,	,	PUNCT
dem-1052	334	56	wiley	wiley	PROPN
dem-1052	334	57	series	series	PROPN
dem-1052	334	58	in	in	ADP
dem-1052	334	59	probability	probability	NOUN
dem-1052	334	60	and	and	CCONJ
dem-1052	334	61	statistics	statistic	NOUN
dem-1052	334	62	.	.	PUNCT
dem-1052	335	1	bertsekas	bertsekas	PROPN
dem-1052	335	2	,	,	PUNCT
dem-1052	335	3	d.	d.	PROPN
dem-1052	335	4	(	(	PUNCT
dem-1052	335	5	1995	1995	NUM
dem-1052	335	6	)	)	PUNCT
dem-1052	335	7	,	,	PUNCT
dem-1052	335	8	dynamic	dynamic	ADJ
dem-1052	335	9	programming	programming	NOUN
dem-1052	335	10	and	and	CCONJ
dem-1052	335	11	optimal	optimal	ADJ
dem-1052	335	12	control	control	NOUN
dem-1052	335	13	,	,	PUNCT
dem-1052	335	14	vol	vol	NOUN
dem-1052	335	15	.	.	PUNCT
dem-1052	336	1	i	i	PRON
dem-1052	336	2	,	,	PUNCT
dem-1052	336	3	athena	athena	PROPN
dem-1052	336	4	scientific	scientific	PROPN
dem-1052	336	5	,	,	PUNCT
dem-1052	336	6	belmont	belmont	PROPN
dem-1052	336	7	,	,	PUNCT
dem-1052	336	8	ma	ma	PROPN
dem-1052	336	9	.	.	PROPN
dem-1052	336	10	bertsimas	bertsimas	PROPN
dem-1052	336	11	,	,	PUNCT
dem-1052	336	12	d.	d.	PROPN
dem-1052	336	13	,	,	PUNCT
dem-1052	336	14	kogan	kogan	PROPN
dem-1052	336	15	l.	l.	PROPN
dem-1052	336	16	,	,	PUNCT
dem-1052	336	17	lo	lo	PROPN
dem-1052	336	18	,	,	PUNCT
dem-1052	336	19	a.w	a.w	PROPN
dem-1052	336	20	.	.	PROPN
dem-1052	336	21	(	(	PUNCT
dem-1052	336	22	2001	2001	NUM
dem-1052	336	23	)	)	PUNCT
dem-1052	336	24	,	,	PUNCT
dem-1052	336	25	hedging	hedge	VERB
dem-1052	336	26	derivative	derivative	ADJ
dem-1052	336	27	securities	security	NOUN
dem-1052	336	28	and	and	CCONJ
dem-1052	336	29	incomplete	incomplete	ADJ
dem-1052	336	30	markets	market	NOUN
dem-1052	336	31	:	:	PUNCT
dem-1052	336	32	an	an	DET
dem-1052	336	33	ε	ε	PROPN
dem-1052	336	34	-	-	PUNCT
dem-1052	336	35	arbitrage	arbitrage	NOUN
dem-1052	336	36	approach	approach	NOUN
dem-1052	336	37	,	,	PUNCT
dem-1052	336	38	operations	operation	NOUN
dem-1052	336	39	research	research	NOUN
dem-1052	336	40	,	,	PUNCT
dem-1052	336	41	49	49	NUM
dem-1052	336	42	,	,	PUNCT
dem-1052	336	43	3	3	NUM
dem-1052	336	44	,	,	PUNCT
dem-1052	336	45	372–397	372–397	NUM
dem-1052	336	46	.	.	PUNCT
dem-1052	337	1	björk	björk	NOUN
dem-1052	337	2	,	,	PUNCT
dem-1052	337	3	t.	t.	PROPN
dem-1052	337	4	(	(	PUNCT
dem-1052	337	5	2004	2004	NUM
dem-1052	337	6	)	)	PUNCT
dem-1052	337	7	,	,	PUNCT
dem-1052	337	8	arbitrage	arbitrage	NOUN
dem-1052	337	9	theory	theory	NOUN
dem-1052	337	10	in	in	ADP
dem-1052	337	11	continuous	continuous	ADJ
dem-1052	337	12	time	time	NOUN
dem-1052	337	13	,	,	PUNCT
dem-1052	337	14	oxford	oxford	PROPN
dem-1052	337	15	university	university	NOUN
dem-1052	337	16	press	press	NOUN
dem-1052	337	17	.	.	PUNCT
dem-1052	338	1	black	black	ADJ
dem-1052	338	2	,	,	PUNCT
dem-1052	338	3	f.	f.	PROPN
dem-1052	338	4	,	,	PUNCT
dem-1052	338	5	scholes	schole	NOUN
dem-1052	338	6	,	,	PUNCT
dem-1052	338	7	m.	m.	NOUN
dem-1052	338	8	(	(	PUNCT
dem-1052	338	9	1973	1973	NUM
dem-1052	338	10	)	)	PUNCT
dem-1052	338	11	,	,	PUNCT
dem-1052	338	12	the	the	DET
dem-1052	338	13	pricing	pricing	NOUN
dem-1052	338	14	of	of	ADP
dem-1052	338	15	options	option	NOUN
dem-1052	338	16	and	and	CCONJ
dem-1052	338	17	corporate	corporate	ADJ
dem-1052	338	18	liabilities	liability	NOUN
dem-1052	338	19	,	,	PUNCT
dem-1052	338	20	journal	journal	NOUN
dem-1052	338	21	of	of	ADP
dem-1052	338	22	political	political	ADJ
dem-1052	338	23	economy	economy	NOUN
dem-1052	338	24	,	,	PUNCT
dem-1052	338	25	81	81	NUM
dem-1052	338	26	,	,	PUNCT
dem-1052	338	27	637–654	637–654	NUM
dem-1052	338	28	.	.	PUNCT
dem-1052	339	1	frühwirth	frühwirth	NOUN
dem-1052	339	2	-	-	PUNCT
dem-1052	339	3	schnatter	schnatter	NOUN
dem-1052	339	4	,	,	PUNCT
dem-1052	339	5	s.	s.	PROPN
dem-1052	339	6	(	(	PUNCT
dem-1052	339	7	2006	2006	NUM
dem-1052	339	8	)	)	PUNCT
dem-1052	339	9	,	,	PUNCT
dem-1052	339	10	finite	finite	VERB
dem-1052	339	11	mixture	mixture	NOUN
dem-1052	339	12	and	and	CCONJ
dem-1052	339	13	markov	markov	NOUN
dem-1052	339	14	switching	switching	NOUN
dem-1052	339	15	models	model	NOUN
dem-1052	339	16	,	,	PUNCT
dem-1052	339	17	springer	springer	NOUN
dem-1052	339	18	science	science	NOUN
dem-1052	339	19	+	+	CCONJ
dem-1052	339	20	business	business	NOUN
dem-1052	339	21	media	medium	NOUN
dem-1052	339	22	,	,	PUNCT
dem-1052	339	23	lcc	lcc	PROPN
dem-1052	339	24	.	.	PUNCT
dem-1052	339	25	gamerman	gamerman	PROPN
dem-1052	339	26	,	,	PUNCT
dem-1052	339	27	d.	d.	PROPN
dem-1052	339	28	,	,	PUNCT
dem-1052	339	29	lopes	lopes	PROPN
dem-1052	339	30	,	,	PUNCT
dem-1052	339	31	h.f	h.f	PROPN
dem-1052	339	32	.	.	PROPN
dem-1052	339	33	(	(	PUNCT
dem-1052	339	34	2006	2006	NUM
dem-1052	339	35	)	)	PUNCT
dem-1052	339	36	,	,	PUNCT
dem-1052	339	37	markov	markov	NOUN
dem-1052	339	38	chain	chain	NOUN
dem-1052	339	39	monte	monte	PROPN
dem-1052	339	40	carlo	carlo	PROPN
dem-1052	339	41	.	.	PUNCT
dem-1052	340	1	stochastic	stochastic	ADJ
dem-1052	340	2	simulation	simulation	NOUN
dem-1052	340	3	for	for	ADP
dem-1052	340	4	bayesian	bayesian	NOUN
dem-1052	340	5	inference	inference	NOUN
dem-1052	340	6	,	,	PUNCT
dem-1052	340	7	chapman	chapman	PROPN
dem-1052	340	8	&	&	CCONJ
dem-1052	340	9	hall	hall	PROPN
dem-1052	340	10	/	/	SYM
dem-1052	340	11	crc	crc	PROPN
dem-1052	340	12	.	.	PUNCT
dem-1052	341	1	hanson	hanson	PROPN
dem-1052	341	2	,	,	PUNCT
dem-1052	341	3	f.b	f.b	PROPN
dem-1052	341	4	.	.	PROPN
dem-1052	341	5	,	,	PUNCT
dem-1052	341	6	westman	westman	NOUN
dem-1052	341	7	,	,	PUNCT
dem-1052	341	8	j.j	j.j	PROPN
dem-1052	341	9	.	.	PROPN
dem-1052	341	10	(	(	PUNCT
dem-1052	341	11	2002	2002	NUM
dem-1052	341	12	)	)	PUNCT
dem-1052	341	13	,	,	PUNCT
dem-1052	341	14	stochastic	stochastic	ADJ
dem-1052	341	15	analysis	analysis	NOUN
dem-1052	341	16	of	of	ADP
dem-1052	341	17	jump	jump	NOUN
dem-1052	341	18	-	-	PUNCT
dem-1052	341	19	diffusions	diffusion	NOUN
dem-1052	341	20	for	for	ADP
dem-1052	341	21	financial	financial	ADJ
dem-1052	341	22	logreturn	logreturn	NOUN
dem-1052	341	23	processes	process	NOUN
dem-1052	341	24	,	,	PUNCT
dem-1052	341	25	stochastic	stochastic	ADJ
dem-1052	341	26	theory	theory	NOUN
dem-1052	341	27	and	and	CCONJ
dem-1052	341	28	control	control	NOUN
dem-1052	341	29	,	,	PUNCT
dem-1052	341	30	280/2002	280/2002	NUM
dem-1052	341	31	,	,	PUNCT
dem-1052	341	32	169–183	169–183	NUM
dem-1052	341	33	.	.	PUNCT
dem-1052	342	1	kloeden	kloeden	PROPN
dem-1052	342	2	,	,	PUNCT
dem-1052	342	3	p.e	p.e	PROPN
dem-1052	342	4	.	.	PROPN
dem-1052	342	5	,	,	PUNCT
dem-1052	342	6	platen	platen	PROPN
dem-1052	342	7	,	,	PUNCT
dem-1052	342	8	e.	e.	PROPN
dem-1052	342	9	(	(	PUNCT
dem-1052	342	10	1992	1992	NUM
dem-1052	342	11	)	)	PUNCT
dem-1052	342	12	,	,	PUNCT
dem-1052	342	13	numerical	numerical	ADJ
dem-1052	342	14	solution	solution	NOUN
dem-1052	342	15	of	of	ADP
dem-1052	342	16	stochastic	stochastic	ADJ
dem-1052	342	17	differential	differential	ADJ
dem-1052	342	18	equations	equation	NOUN
dem-1052	342	19	,	,	PUNCT
dem-1052	342	20	springer	springer	NOUN
dem-1052	342	21	-	-	PUNCT
dem-1052	342	22	verlag	verlag	PROPN
dem-1052	342	23	,	,	PUNCT
dem-1052	342	24	berlin	berlin	PROPN
dem-1052	342	25	-	-	PUNCT
dem-1052	342	26	heidelberg	heidelberg	PROPN
dem-1052	342	27	-	-	PUNCT
dem-1052	342	28	new	new	PROPN
dem-1052	342	29	york	york	PROPN
dem-1052	342	30	.	.	PUNCT
dem-1052	343	1	kostrzewski	kostrzewski	PROPN
dem-1052	343	2	,	,	PUNCT
dem-1052	343	3	m.	m.	NOUN
dem-1052	343	4	(	(	PUNCT
dem-1052	343	5	2011	2011	NUM
dem-1052	343	6	)	)	PUNCT
dem-1052	343	7	,	,	PUNCT
dem-1052	343	8	bayesian	bayesian	NOUN
dem-1052	343	9	inference	inference	NOUN
dem-1052	343	10	for	for	ADP
dem-1052	343	11	the	the	DET
dem-1052	343	12	jump	jump	NOUN
dem-1052	343	13	-	-	PUNCT
dem-1052	343	14	diffusion	diffusion	NOUN
dem-1052	343	15	model	model	NOUN
dem-1052	343	16	with	with	ADP
dem-1052	343	17	m	m	PROPN
dem-1052	343	18	jumps	jump	NOUN
dem-1052	343	19	,	,	PUNCT
dem-1052	343	20	working	working	NOUN
dem-1052	343	21	paper	paper	NOUN
dem-1052	343	22	:	:	PUNCT
dem-1052	343	23	http://home.agh.edu.pl/	http://home.agh.edu.pl/	NOUN
dem-1052	343	24	kostrzew	kostrzew	PROPN
dem-1052	343	25	/	/	SYM
dem-1052	343	26	bayesianinferencejdmj.pdf	bayesianinferencejdmj.pdf	NUM
dem-1052	343	27	.	.	PUNCT
dem-1052	344	1	lamberton	lamberton	PROPN
dem-1052	344	2	,	,	PUNCT
dem-1052	344	3	d.	d.	PROPN
dem-1052	344	4	,	,	PUNCT
dem-1052	344	5	lapeyre	lapeyre	PROPN
dem-1052	344	6	,	,	PUNCT
dem-1052	344	7	b.	b.	PROPN
dem-1052	344	8	(	(	PUNCT
dem-1052	344	9	2000	2000	NUM
dem-1052	344	10	)	)	PUNCT
dem-1052	344	11	,	,	PUNCT
dem-1052	344	12	introduction	introduction	NOUN
dem-1052	344	13	to	to	ADP
dem-1052	344	14	stochastic	stochastic	ADJ
dem-1052	344	15	calculus	calculus	NOUN
dem-1052	344	16	applied	apply	VERB
dem-1052	344	17	to	to	ADP
dem-1052	344	18	finance	finance	NOUN
dem-1052	344	19	,	,	PUNCT
dem-1052	344	20	chapman	chapman	PROPN
dem-1052	344	21	&	&	CCONJ
dem-1052	344	22	hall	hall	PROPN
dem-1052	344	23	/	/	SYM
dem-1052	344	24	crc	crc	PROPN
dem-1052	344	25	.	.	PUNCT
dem-1052	345	1	bayesian	bayesian	NOUN
dem-1052	345	2	pricing	pricing	NOUN
dem-1052	345	3	of	of	ADP
dem-1052	345	4	the	the	DET
dem-1052	345	5	optimal	optimal	ADJ
dem-1052	345	6	-	-	PUNCT
dem-1052	345	7	replication	replication	NOUN
dem-1052	345	8	strategy	strategy	NOUN
dem-1052	345	9	for	for	ADP
dem-1052	345	10	the	the	DET
dem-1052	345	11	european	european	ADJ
dem-1052	345	12	option	option	NOUN
dem-1052	345	13	…	…	PUNCT
dem-1052	345	14	dynamic	dynamic	ADJ
dem-1052	345	15	econometric	econometric	ADJ
dem-1052	345	16	models	model	NOUN
dem-1052	345	17	12	12	NUM
dem-1052	345	18	(	(	PUNCT
dem-1052	345	19	2012	2012	NUM
dem-1052	345	20	)	)	PUNCT
dem-1052	345	21	53–71	53–71	NOUN
dem-1052	345	22	71	71	NUM
dem-1052	345	23	lin	lin	PROPN
dem-1052	345	24	,	,	PUNCT
dem-1052	345	25	s	s	PROPN
dem-1052	345	26	-	-	PUNCT
dem-1052	345	27	j.	j.	PROPN
dem-1052	345	28	,	,	PUNCT
dem-1052	345	29	huang	huang	PROPN
dem-1052	345	30	,	,	PUNCT
dem-1052	345	31	m	m	PROPN
dem-1052	345	32	-	-	PROPN
dem-1052	345	33	t.	t.	X
dem-1052	345	34	(	(	PUNCT
dem-1052	345	35	2002	2002	NUM
dem-1052	345	36	)	)	PUNCT
dem-1052	345	37	,	,	PUNCT
dem-1052	345	38	estimating	estimate	VERB
dem-1052	345	39	jump	jump	NOUN
dem-1052	345	40	-	-	PUNCT
dem-1052	345	41	diffusion	diffusion	NOUN
dem-1052	345	42	models	model	NOUN
dem-1052	345	43	using	use	VERB
dem-1052	345	44	the	the	DET
dem-1052	345	45	mcmc	mcmc	PROPN
dem-1052	345	46	simulation	simulation	PROPN
dem-1052	345	47	,	,	PUNCT
dem-1052	345	48	national	national	PROPN
dem-1052	345	49	tsing	tsing	PROPN
dem-1052	345	50	hua	hua	PROPN
dem-1052	345	51	university	university	PROPN
dem-1052	345	52	department	department	PROPN
dem-1052	345	53	of	of	ADP
dem-1052	345	54	economics	economics	PROPN
dem-1052	345	55	nthu	nthu	PROPN
dem-1052	345	56	working	working	PROPN
dem-1052	345	57	paper	paper	NOUN
dem-1052	345	58	series	series	NOUN
dem-1052	345	59	,	,	PUNCT
dem-1052	345	60	working	work	VERB
dem-1052	345	61	paper	paper	NOUN
dem-1052	345	62	0215e	0215e	PROPN
dem-1052	345	63	,	,	PUNCT
dem-1052	345	64	october	october	PROPN
dem-1052	345	65	2002	2002	NUM
dem-1052	345	66	.	.	PUNCT
dem-1052	346	1	merton	merton	PROPN
dem-1052	346	2	,	,	PUNCT
dem-1052	346	3	r.c	r.c	PROPN
dem-1052	346	4	.	.	PROPN
dem-1052	346	5	(	(	PUNCT
dem-1052	346	6	1976	1976	NUM
dem-1052	346	7	)	)	PUNCT
dem-1052	346	8	,	,	PUNCT
dem-1052	346	9	option	option	NOUN
dem-1052	346	10	pricing	pricing	NOUN
dem-1052	346	11	when	when	SCONJ
dem-1052	346	12	underlying	underlie	VERB
dem-1052	346	13	stock	stock	NOUN
dem-1052	346	14	return	return	NOUN
dem-1052	346	15	rates	rate	NOUN
dem-1052	346	16	are	be	AUX
dem-1052	346	17	discontinuous	discontinuous	ADJ
dem-1052	346	18	,	,	PUNCT
dem-1052	346	19	journal	journal	NOUN
dem-1052	346	20	of	of	ADP
dem-1052	346	21	financial	financial	ADJ
dem-1052	346	22	economics	economic	NOUN
dem-1052	346	23	,	,	PUNCT
dem-1052	346	24	3	3	NUM
dem-1052	346	25	,	,	PUNCT
dem-1052	346	26	141–183	141–183	NUM
dem-1052	346	27	.	.	PUNCT
dem-1052	347	1	newton	newton	PROPN
dem-1052	347	2	,	,	PUNCT
dem-1052	347	3	m.a	m.a	PROPN
dem-1052	347	4	.	.	PROPN
dem-1052	347	5	,	,	PUNCT
dem-1052	347	6	raftery	raftery	PROPN
dem-1052	347	7	,	,	PUNCT
dem-1052	347	8	a.e	a.e	PROPN
dem-1052	347	9	.	.	PROPN
dem-1052	347	10	(	(	PUNCT
dem-1052	347	11	1994	1994	NUM
dem-1052	347	12	)	)	PUNCT
dem-1052	347	13	,	,	PUNCT
dem-1052	347	14	approximate	approximate	ADJ
dem-1052	347	15	bayesian	bayesian	NOUN
dem-1052	347	16	inference	inference	NOUN
dem-1052	347	17	by	by	ADP
dem-1052	347	18	the	the	DET
dem-1052	347	19	weighted	weight	VERB
dem-1052	347	20	likelihood	likelihood	NOUN
dem-1052	347	21	bootstrap	bootstrap	NOUN
dem-1052	347	22	(	(	PUNCT
dem-1052	347	23	with	with	ADP
dem-1052	347	24	discussion	discussion	NOUN
dem-1052	347	25	)	)	PUNCT
dem-1052	347	26	,	,	PUNCT
dem-1052	347	27	journal	journal	NOUN
dem-1052	347	28	of	of	ADP
dem-1052	347	29	the	the	DET
dem-1052	347	30	royal	royal	ADJ
dem-1052	347	31	statistical	statistical	ADJ
dem-1052	347	32	society	society	NOUN
dem-1052	347	33	b	b	PROPN
dem-1052	347	34	,	,	PUNCT
dem-1052	347	35	56	56	NUM
dem-1052	347	36	(	(	PUNCT
dem-1052	347	37	1	1	NUM
dem-1052	347	38	)	)	PUNCT
dem-1052	347	39	,	,	PUNCT
dem-1052	347	40	3–48	3–48	PROPN
dem-1052	347	41	.	.	PUNCT
dem-1052	348	1	raftery	raftery	PROPN
dem-1052	348	2	,	,	PUNCT
dem-1052	348	3	a.	a.	PROPN
dem-1052	348	4	e.	e.	PROPN
dem-1052	348	5	,	,	PUNCT
dem-1052	348	6	newton	newton	PROPN
dem-1052	348	7	,	,	PUNCT
dem-1052	348	8	m.	m.	NOUN
dem-1052	348	9	a.	a.	PROPN
dem-1052	348	10	,	,	PUNCT
dem-1052	348	11	satagopan	satagopan	NOUN
dem-1052	348	12	,	,	PUNCT
dem-1052	348	13	j.	j.	PROPN
dem-1052	348	14	m.	m.	PROPN
dem-1052	348	15	,	,	PUNCT
dem-1052	348	16	krivitsky	krivitsky	PROPN
dem-1052	348	17	,	,	PUNCT
dem-1052	348	18	p.	p.	PROPN
dem-1052	348	19	n.	n.	PROPN
dem-1052	348	20	(	(	PUNCT
dem-1052	348	21	2007	2007	NUM
dem-1052	348	22	)	)	PUNCT
dem-1052	348	23	,	,	PUNCT
dem-1052	348	24	estimating	estimate	VERB
dem-1052	348	25	the	the	DET
dem-1052	348	26	integrated	integrate	VERB
dem-1052	348	27	likelihood	likelihood	NOUN
dem-1052	348	28	via	via	ADP
dem-1052	348	29	posterior	posterior	ADJ
dem-1052	348	30	simulation	simulation	NOUN
dem-1052	348	31	using	use	VERB
dem-1052	348	32	the	the	DET
dem-1052	348	33	harmonic	harmonic	ADJ
dem-1052	348	34	mean	mean	NOUN
dem-1052	348	35	identity	identity	NOUN
dem-1052	348	36	,	,	PUNCT
dem-1052	348	37	bayesian	bayesian	NOUN
dem-1052	348	38	statistics	statistic	NOUN
dem-1052	348	39	,	,	PUNCT
dem-1052	348	40	8	8	NUM
dem-1052	348	41	,	,	PUNCT
dem-1052	348	42	1–45	1–45	PROPN
dem-1052	348	43	.	.	PUNCT
dem-1052	349	1	schweizer	schweizer	PROPN
dem-1052	349	2	,	,	PUNCT
dem-1052	349	3	m.	m.	NOUN
dem-1052	349	4	(	(	PUNCT
dem-1052	349	5	1992	1992	NUM
dem-1052	349	6	)	)	PUNCT
dem-1052	349	7	,	,	PUNCT
dem-1052	349	8	variance	variance	NOUN
dem-1052	349	9	-	-	ADJ
dem-1052	349	10	optimal	optimal	ADJ
dem-1052	349	11	hedging	hedging	NOUN
dem-1052	349	12	in	in	ADP
dem-1052	349	13	discrete	discrete	ADJ
dem-1052	349	14	time	time	NOUN
dem-1052	349	15	,	,	PUNCT
dem-1052	349	16	mathematics	mathematic	NOUN
dem-1052	349	17	of	of	ADP
dem-1052	349	18	operations	operation	NOUN
dem-1052	349	19	research	research	NOUN
dem-1052	349	20	,	,	PUNCT
dem-1052	349	21	20	20	NUM
dem-1052	349	22	,	,	PUNCT
dem-1052	349	23	1–31	1–31	PROPN
dem-1052	349	24	.	.	PUNCT
dem-1052	350	1	shreve	shreve	PROPN
dem-1052	350	2	,	,	PUNCT
dem-1052	350	3	s.e	s.e	PROPN
dem-1052	350	4	.	.	PROPN
dem-1052	350	5	(	(	PUNCT
dem-1052	350	6	2004	2004	NUM
dem-1052	350	7	)	)	PUNCT
dem-1052	350	8	,	,	PUNCT
dem-1052	350	9	stochastic	stochastic	ADJ
dem-1052	350	10	calculus	calculus	NOUN
dem-1052	350	11	for	for	ADP
dem-1052	350	12	finance	finance	PROPN
dem-1052	350	13	ii	ii	PROPN
dem-1052	350	14	.	.	PUNCT
dem-1052	351	1	continuous	continuous	ADJ
dem-1052	351	2	-	-	PUNCT
dem-1052	351	3	time	time	NOUN
dem-1052	351	4	models	model	NOUN
dem-1052	351	5	,	,	PUNCT
dem-1052	351	6	springer	springer	NOUN
dem-1052	351	7	science+business	science+business	NOUN
dem-1052	351	8	media	medium	NOUN
dem-1052	351	9	,	,	PUNCT
dem-1052	351	10	inc	inc	PROPN
dem-1052	351	11	.	.	PROPN
dem-1052	351	12	yu	yu	PROPN
dem-1052	351	13	,	,	PUNCT
dem-1052	351	14	b.	b.	PROPN
dem-1052	351	15	,	,	PUNCT
dem-1052	351	16	mykland	mykland	NOUN
dem-1052	351	17	,	,	PUNCT
dem-1052	351	18	p.	p.	NOUN
dem-1052	351	19	(	(	PUNCT
dem-1052	351	20	1998	1998	NUM
dem-1052	351	21	)	)	PUNCT
dem-1052	351	22	,	,	PUNCT
dem-1052	351	23	looking	look	VERB
dem-1052	351	24	at	at	ADP
dem-1052	351	25	markov	markov	NOUN
dem-1052	351	26	samplers	sampler	NOUN
dem-1052	351	27	through	through	ADP
dem-1052	351	28	cumsum	cumsum	NOUN
dem-1052	351	29	path	path	NOUN
dem-1052	351	30	plots	plot	NOUN
dem-1052	351	31	:	:	PUNCT
dem-1052	351	32	a	a	DET
dem-1052	351	33	simple	simple	ADJ
dem-1052	351	34	diagnostic	diagnostic	ADJ
dem-1052	351	35	idea	idea	NOUN
dem-1052	351	36	,	,	PUNCT
dem-1052	351	37	statistics	statistic	NOUN
dem-1052	351	38	and	and	CCONJ
dem-1052	351	39	computing	computing	NOUN
dem-1052	351	40	,	,	PUNCT
dem-1052	351	41	8	8	NUM
dem-1052	351	42	,	,	PUNCT
dem-1052	351	43	275–286	275–286	NUM
dem-1052	351	44	.	.	PUNCT
dem-1052	352	1	bayesowska	bayesowska	PROPN
dem-1052	352	2	wycena	wycena	PROPN
dem-1052	352	3	kosztu	kosztu	PROPN
dem-1052	352	4	optymalnej	optymalnej	PROPN
dem-1052	352	5	strategii	strategii	PROPN
dem-1052	352	6	replikującej	replikującej	PROPN
dem-1052	352	7	europejską	europejską	PROPN
dem-1052	352	8	opcję	opcję	PROPN
dem-1052	352	9	w	w	PROPN
dem-1052	352	10	modelu	modelu	PROPN
dem-1052	353	1	jd(m)j	jd(m)j	PROPN
dem-1052	354	1	z	z	PROPN
dem-1052	355	1	a	a	DET
dem-1052	355	2	r	r	NOUN
dem-1052	355	3	y	y	PROPN
dem-1052	355	4	s	s	PROPN
dem-1052	355	5	t	t	NOUN
dem-1052	355	6	r	r	NOUN
dem-1052	355	7	e	e	PROPN
dem-1052	355	8	ś	ś	PROPN
dem-1052	355	9	c	c	PROPN
dem-1052	355	10	i.	i.	PROPN
dem-1052	355	11	wycena	wycena	PROPN
dem-1052	355	12	opcji	opcji	PROPN
dem-1052	355	13	w	w	PROPN
dem-1052	355	14	modelu	modelu	PROPN
dem-1052	355	15	niezupełnym	niezupełnym	PROPN
dem-1052	355	16	jest	jest	PROPN
dem-1052	355	17	nietrywialnym	nietrywialnym	PROPN
dem-1052	355	18	zagadnieniem	zagadnieniem	PROPN
dem-1052	355	19	.	.	PUNCT
dem-1052	356	1	przykładem	przykładem	PROPN
dem-1052	356	2	modelu	modelu	PROPN
dem-1052	356	3	niezupełnego	niezupełnego	PROPN
dem-1052	356	4	jest	jest	PROPN
dem-1052	356	5	wprowadzony	wprowadzony	PROPN
dem-1052	356	6	przez	przez	PROPN
dem-1052	356	7	mertona	mertona	PROPN
dem-1052	356	8	model	model	PROPN
dem-1052	356	9	dyfuzji	dyfuzji	VERB
dem-1052	356	10	ze	ze	PROPN
dem-1052	356	11	skokami	skokami	NOUN
dem-1052	356	12	.	.	PUNCT
dem-1052	357	1	gęstość	gęstość	NOUN
dem-1052	357	2	logarytmu	logarytmu	PROPN
dem-1052	357	3	procesu	procesu	PROPN
dem-1052	357	4	dyfuzji	dyfuzji	VERB
dem-1052	357	5	ze	ze	PROPN
dem-1052	357	6	skokami	skokami	PROPN
dem-1052	357	7	jest	jest	NOUN
dem-1052	357	8	nieskończoną	nieskończoną	VERB
dem-1052	357	9	mieszanką	mieszanką	PROPN
dem-1052	357	10	rozkładów	rozkładów	PROPN
dem-1052	357	11	normalnych	normalnych	NOUN
dem-1052	357	12	.	.	PUNCT
dem-1052	358	1	w	w	PROPN
dem-1052	358	2	badaniu	badaniu	PROPN
dem-1052	358	3	przyjęto	przyjęto	PROPN
dem-1052	358	4	,	,	PUNCT
dem-1052	358	5	że	że	X
dem-1052	358	6	liczba	liczba	VERB
dem-1052	358	7	mieszanek	mieszanek	ADJ
dem-1052	358	8	jest	jest	PROPN
dem-1052	358	9	skończona	skończona	PROPN
dem-1052	358	10	.	.	PUNCT
dem-1052	359	1	otrzymany	otrzymany	ADJ
dem-1052	359	2	w	w	PROPN
dem-1052	359	3	ten	ten	NUM
dem-1052	359	4	sposób	sposób	PROPN
dem-1052	359	5	model	model	NOUN
dem-1052	359	6	nazwano	nazwano	PROPN
dem-1052	359	7	modelem	modelem	NOUN
dem-1052	359	8	jd(m)j	jd(m)j	PROPN
dem-1052	359	9	.	.	PUNCT
dem-1052	360	1	w	w	PROPN
dem-1052	360	2	praktyce	praktyce	PROPN
dem-1052	360	3	parametry	parametry	PROPN
dem-1052	360	4	modelu	modelu	PROPN
dem-1052	360	5	są	są	PROPN
dem-1052	360	6	nieznane	nieznane	PROPN
dem-1052	360	7	i	i	PRON
dem-1052	360	8	wymagają	wymagają	VERB
dem-1052	360	9	estymacji	estymacji	NOUN
dem-1052	360	10	.	.	PUNCT
dem-1052	361	1	w	w	PROPN
dem-1052	361	2	badaniu	badaniu	PROPN
dem-1052	361	3	zastosowano	zastosowano	PROPN
dem-1052	361	4	wnioskowanie	wnioskowanie	PROPN
dem-1052	361	5	bayesowskie	bayesowskie	PROPN
dem-1052	361	6	.	.	PUNCT
dem-1052	362	1	jd(m)j	jd(m)j	PROPN
dem-1052	362	2	jest	jest	NOUN
dem-1052	362	3	modelem	modelem	NOUN
dem-1052	362	4	niezupełnym	niezupełnym	PROPN
dem-1052	362	5	dla	dla	PROPN
dem-1052	362	6	którego	którego	PROPN
dem-1052	362	7	,	,	PUNCT
dem-1052	362	8	w	w	PRON
dem-1052	362	9	ogólnym	ogólnym	PROPN
dem-1052	362	10	przypadku	przypadku	NOUN
dem-1052	362	11	,	,	PUNCT
dem-1052	362	12	nie	nie	PROPN
dem-1052	362	13	można	można	PROPN
dem-1052	362	14	wskazać	wskazać	PROPN
dem-1052	362	15	strategii	strategii	NOUN
dem-1052	362	16	replikujących	replikujących	PROPN
dem-1052	362	17	instrumenty	instrumenty	PROPN
dem-1052	362	18	pochodne	pochodne	PROPN
dem-1052	362	19	.	.	PUNCT
dem-1052	363	1	w	w	PROPN
dem-1052	363	2	badaniu	badaniu	PROPN
dem-1052	363	3	zaprezentowano	zaprezentowano	PROPN
dem-1052	363	4	algorytm	algorytm	PROPN
dem-1052	363	5	wyznaczający	wyznaczający	NOUN
dem-1052	363	6	optymalną	optymalną	PROPN
dem-1052	363	7	w	w	PROPN
dem-1052	363	8	sensie	sensie	PROPN
dem-1052	363	9	średniokwadratowym	średniokwadratowym	PROPN
dem-1052	363	10	strategię	strategię	NOUN
dem-1052	363	11	replikującą	replikującą	VERB
dem-1052	363	12	europejski	europejski	PROPN
dem-1052	363	13	instrument	instrument	NOUN
dem-1052	363	14	pochodny	pochodny	VERB
dem-1052	363	15	.	.	PUNCT
dem-1052	364	1	do	do	VERB
dem-1052	364	2	zilustrowania	zilustrowania	PROPN
dem-1052	364	3	omówionej	omówionej	PROPN
dem-1052	364	4	teorii	teorii	PROPN
dem-1052	364	5	wykorzystano	wykorzystano	PROPN
dem-1052	364	6	indeksy	indeksy	PROPN
dem-1052	365	1	wig20	wig20	PROPN
dem-1052	365	2	i	i	PRON
dem-1052	365	3	s&p100	s&p100	VERB
dem-1052	365	4	.	.	PUNCT
dem-1052	366	1	przedstawiona	przedstawiona	PROPN
dem-1052	366	2	metodologia	metodologia	PROPN
dem-1052	366	3	jest	jest	PROPN
dem-1052	366	4	użyteczna	użyteczna	PROPN
dem-1052	366	5	dla	dla	NOUN
dem-1052	366	6	inwestorów	inwestorów	NOUN
dem-1052	366	7	,	,	PUNCT
dem-1052	366	8	którzy	którzy	VERB
dem-1052	366	9	chcą	chcą	NOUN
dem-1052	366	10	uwzględnić	uwzględnić	ADV
dem-1052	366	11	w	w	PROPN
dem-1052	366	12	wycenie	wycenie	PROPN
dem-1052	366	13	instrumentów	instrumentów	PROPN
dem-1052	366	14	pochodnych	pochodnych	PROPN
dem-1052	366	15	oraz	oraz	PROPN
dem-1052	366	16	analizach	analizach	NOUN
dem-1052	366	17	szacowania	szacowania	NOUN
dem-1052	366	18	ryzyka	ryzyka	NOUN
dem-1052	366	19	,	,	PUNCT
dem-1052	366	20	,	,	PUNCT
dem-1052	366	21	niepewność	niepewność	NOUN
dem-1052	366	22	”	"	PUNCT
dem-1052	366	23	estymacji	estymacji	PROPN
dem-1052	366	24	parametrów	parametrów	PROPN
dem-1052	366	25	modelu	modelu	PROPN
dem-1052	366	26	.	.	PUNCT
dem-1052	367	1	s	s	PART
dem-1052	368	1	ł	ł	PROPN
dem-1052	368	2	o	o	X
dem-1052	368	3	w	w	NOUN
dem-1052	368	4	a	a	DET
dem-1052	368	5	k	k	X
dem-1052	368	6	l	l	NOUN
dem-1052	368	7	u	u	NOUN
dem-1052	369	1	c	c	NOUN
dem-1052	369	2	z	z	NOUN
dem-1052	369	3	o	o	X
dem-1052	369	4	w	w	PROPN
dem-1052	370	1	e	e	NOUN
dem-1052	370	2	:	:	PUNCT
dem-1052	370	3	rynki	rynki	PROPN
dem-1052	370	4	niezupełne	niezupełne	PROPN
dem-1052	370	5	,	,	PUNCT
dem-1052	370	6	wnioskowanie	wnioskowanie	PROPN
dem-1052	370	7	bayesowskie	bayesowskie	NOUN
dem-1052	370	8	,	,	PUNCT
dem-1052	370	9	procesy	procesy	VERB
dem-1052	370	10	dyfuzji	dyfuzji	PROPN
dem-1052	370	11	ze	ze	PROPN
dem-1052	370	12	skokami	skokami	NOUN
dem-1052	370	13	,	,	PUNCT
dem-1052	370	14	wycena	wycena	VERB
dem-1052	370	15	instrumentów	instrumentów	ADJ
dem-1052	370	16	pochodnych	pochodnych	NOUN
dem-1052	370	17	.	.	PUNCT
dem-1052	371	1	introduction	introduction	NOUN
dem-1052	371	2	1	1	NUM
dem-1052	371	3	.	.	PUNCT
dem-1052	372	1	the	the	DET
dem-1052	372	2	jump	jump	NOUN
dem-1052	372	3	-	-	PUNCT
dem-1052	372	4	diffusion	diffusion	NOUN
dem-1052	372	5	model	model	NOUN
dem-1052	372	6	with	with	ADP
dem-1052	372	7	m	m	NOUN
dem-1052	372	8	-	-	PUNCT
dem-1052	372	9	jumps	jump	VERB
dem-1052	372	10	2	2	NUM
dem-1052	372	11	.	.	PUNCT
dem-1052	372	12	bayesian	bayesian	NOUN
dem-1052	372	13	inference	inference	NOUN
dem-1052	372	14	for	for	ADP
dem-1052	372	15	the	the	DET
dem-1052	372	16	jd(m)j	jd(m)j	PROPN
dem-1052	372	17	model	model	NOUN
dem-1052	372	18	3	3	NUM
dem-1052	372	19	.	.	PUNCT
dem-1052	373	1	the	the	DET
dem-1052	373	2	optimal	optimal	ADJ
dem-1052	373	3	-	-	PUNCT
dem-1052	373	4	replication	replication	NOUN
dem-1052	373	5	strategy	strategy	NOUN
dem-1052	373	6	4	4	NUM
dem-1052	373	7	.	.	PUNCT
dem-1052	373	8	empirical	empirical	ADJ
dem-1052	373	9	studies	study	NOUN
dem-1052	373	10	5	5	NUM
dem-1052	373	11	.	.	PUNCT
dem-1052	373	12	conclusions	conclusion	NOUN
dem-1052	373	13	references	reference	NOUN