Seismic hazardA seismic hazard is the probability that an earthquake will occur in a given geographic area, within a given window of time, and with ground motion intensity exceeding a given threshold. With a hazard thus estimated, risk can be assessed and included in such areas as building codes for standard buildings, designing larger buildings and infrastructure projects, land use planning and determining insurance rates.
Seismic analysisSeismic analysis is a subset of structural analysis and is the calculation of the response of a building (or nonbuilding) structure to earthquakes. It is part of the process of structural design, earthquake engineering or structural assessment and retrofit (see structural engineering) in regions where earthquakes are prevalent. As seen in the figure, a building has the potential to 'wave' back and forth during an earthquake (or even a severe wind storm). This is called the 'fundamental mode', and is the lowest frequency of building response.
Seismic retrofitSeismic retrofitting is the modification of existing structures to make them more resistant to seismic activity, ground motion, or soil failure due to earthquakes. With better understanding of seismic demand on structures and with our recent experiences with large earthquakes near urban centers, the need of seismic retrofitting is well acknowledged. Prior to the introduction of modern seismic codes in the late 1960s for developed countries (US, Japan etc.) and late 1970s for many other parts of the world (Turkey, China etc.
Earthquake engineeringEarthquake engineering is an interdisciplinary branch of engineering that designs and analyzes structures, such as buildings and bridges, with earthquakes in mind. Its overall goal is to make such structures more resistant to earthquakes. An earthquake (or seismic) engineer aims to construct structures that will not be damaged in minor shaking and will avoid serious damage or collapse in a major earthquake. A properly engineered structure does not necessarily have to be extremely strong or expensive.
Reinforced concreteReinforced concrete, also called ferroconcrete, is a composite material in which concrete's relatively low tensile strength and ductility are compensated for by the inclusion of reinforcement having higher tensile strength or ductility. The reinforcement is usually, though not necessarily, steel bars (rebar) and is usually embedded passively in the concrete before the concrete sets. However, post-tensioning is also employed as a technique to reinforce the concrete. In terms of volume used annually, it is one of the most common engineering materials.
Strong ground motionIn seismology, strong ground motion is the strong earthquake shaking that occurs close to (less than about 50 km from) a causative fault. The strength of the shaking involved in strong ground motion usually overwhelms a seismometer, forcing the use of accelerographs (or strong ground motion accelerometers) for recording. The science of strong ground motion also deals with the variations of fault rupture, both in total displacement, energy released, and rupture velocity.
Earthquake-resistant structuresEarthquake-resistant or aseismic structures are designed to protect buildings to some or greater extent from earthquakes. While no structure can be entirely impervious to earthquake damage, the goal of earthquake engineering is to erect structures that fare better during seismic activity than their conventional counterparts. According to building codes, earthquake-resistant structures are intended to withstand the largest earthquake of a certain probability that is likely to occur at their location.
ConcreteConcrete is a composite material composed of aggregate bonded together with a fluid cement that cures over time. Concrete is the second-most-used substance in the world after water, and is the most widely used building material. Its usage worldwide, ton for ton, is twice that of steel, wood, plastics, and aluminium combined. When aggregate is mixed with dry Portland cement and water, the mixture forms a fluid slurry that is easily poured and molded into shape.
Seismic intensity scalesSeismic intensity scales categorize the intensity or severity of ground shaking (quaking) at a given location, such as resulting from an earthquake. They are distinguished from seismic magnitude scales, which measure the magnitude or overall strength of an earthquake, which may, or perhaps may not, cause perceptible shaking. Intensity scales are based on the observed effects of the shaking, such as the degree to which people or animals were alarmed, and the extent and severity of damage to different kinds of structures or natural features.
Seismic sourceA seismic source is a device that generates controlled seismic energy used to perform both reflection and refraction seismic surveys. A seismic source can be simple, such as dynamite, or it can use more sophisticated technology, such as a specialized air gun. Seismic sources can provide single pulses or continuous sweeps of energy, generating seismic waves, which travel through a medium such as water or layers of rocks. Some of the waves then reflect and refract and are recorded by receivers, such as geophones or hydrophones.
Seismic riskSeismic risk refers to the risk of damage to a building, system, or other entity from an earthquake. Seismic risk has been defined, for most management purposes, as the potential economic, social and environmental consequences of hazardous events that may occur in a specified period of time. A building located in a region of high seismic hazard is at lower risk if it is built to sound seismic engineering principles. On the other hand, a building located in a region with a history of minor seismicity, in a brick building located on fill subject to liquefaction can be as high or higher risk.
EarthquakeAn earthquake (also known as a quake, tremor or temblor) is the shaking of the surface of the Earth resulting from a sudden release of energy in the Earth's lithosphere that creates seismic waves. Earthquakes can range in intensity, from those that are so weak that they cannot be felt, to those violent enough to propel objects and people into the air, damage critical infrastructure, and wreak destruction across entire cities. The seismic activity of an area is the frequency, type, and size of earthquakes experienced over a particular time.
Real options valuationReal options valuation, also often termed real options analysis, (ROV or ROA) applies option valuation techniques to capital budgeting decisions. A real option itself, is the right—but not the obligation—to undertake certain business initiatives, such as deferring, abandoning, expanding, staging, or contracting a capital investment project. For example, real options valuation could examine the opportunity to invest in the expansion of a firm's factory and the alternative option to sell the factory.
SeismometerA seismometer is an instrument that responds to ground noises and shaking such as caused by quakes, volcanic eruptions, and explosions. They are usually combined with a timing device and a recording device to form a seismograph. The output of such a device—formerly recorded on paper (see picture) or film, now recorded and processed digitally—is a seismogram. Such data is used to locate and characterize earthquakes, and to study the Earth's internal structure.
Option (finance)In finance, an option is a contract which conveys to its owner, the holder, the right, but not the obligation, to buy or sell a specific quantity of an underlying asset or instrument at a specified strike price on or before a specified date, depending on the style of the option. Options are typically acquired by purchase, as a form of compensation, or as part of a complex financial transaction.
Prestressed concretePrestressed concrete is a form of concrete used in construction. It is substantially "prestressed" (compressed) during production, in a manner that strengthens it against tensile forces which will exist when in service. This compression is produced by the tensioning of high-strength "tendons" located within or adjacent to the concrete and is done to improve the performance of the concrete in service. Tendons may consist of single wires, multi-wire strands or threaded bars that are most commonly made from high-tensile steels, carbon fiber or aramid fiber.
Binomial options pricing modelIn finance, the binomial options pricing model (BOPM) provides a generalizable numerical method for the valuation of options. Essentially, the model uses a "discrete-time" (lattice based) model of the varying price over time of the underlying financial instrument, addressing cases where the closed-form Black–Scholes formula is wanting. The binomial model was first proposed by William Sharpe in the 1978 edition of Investments (), and formalized by Cox, Ross and Rubinstein in 1979 and by Rendleman and Bartter in that same year.
Precast concretePrecast concrete is a construction product produced by casting concrete in a reusable mold or "form" which is then cured in a controlled environment, transported to the construction site and maneuvered into place; examples include precast beams, and wall panels for tilt up construction. In contrast, cast-in-place concrete is poured into site-specific forms and cured on site. Recently lightweight expanded polystyrene foam is being used as the cores of precast wall panels, saving weight and increasing thermal insulation.
Option styleIn finance, the style or family of an option is the class into which the option falls, usually defined by the dates on which the option may be exercised. The vast majority of options are either European or American (style) options. These options—as well as others where the payoff is calculated similarly—are referred to as "vanilla options". Options where the payoff is calculated differently are categorized as "exotic options". Exotic options can pose challenging problems in valuation and hedging.
Valuation of optionsIn finance, a price (premium) is paid or received for purchasing or selling options. This article discusses the calculation of this premium in general. For further detail, see: for discussion of the mathematics; Financial engineering for the implementation; as well as generally. This price can be split into two components: intrinsic value, and time value (also called "extrinsic value"). The intrinsic value is the difference between the underlying spot price and the strike price, to the extent that this is in favor of the option holder.
