Model set up Sample Clauses

Model set up. We consider a market consisting of two correlated assets S and V with discounted prices given by t dSt = (µ1 − r)Stdt + σ1StdW 1 t t dVt = (µ2 − r)Vtdt + σ2Vt(ρdW 1 + √1 − ρ2dW 2),
Sample 1
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Model set up. The simplest approximation of the structural model developed in the previous chapter is a single target fault (Porthtowan fault zone) embedded into an impermeable matrix. Despite its simplicity, this type of model appears to be a realistic representation of other EGS reservoirs (Chapter 2.2). Following the numerical modelling approach of Xxxxxx et al. (2010), the conceptual model of the Porthtowan fault zone, represented by a single subvertical rectangular structure, was implemented into a hydro-mechanical numerical model which was set up using the finite element software COMSOL Multiphysics®. With this model, hydraulic pressure diffusion, seismic failure and mechanical stress redistribution can be simulated. The fault structure is intersected by an injection well at a depth of 2500 m and by a production well at a depth of 4500 m. The fault is divided into quadratic patches of 20 m side length that, assuming seismic behaviour, slip whenever the ratio of shear to effective normal stress exceeds the frictional strength of the patch. Each patch may slip independently, but since the patches are mechanically coupled to their neighbours via a so- called “block-spring model”, stress redistribution occurs (see Chapter 3.1.1, Figure 4). This may cause the neighbouring patches to experience overcritical stress conditions, thus triggering further co-seismic slips. With each slip event seismic energy is released, whereas the total amount of energy and, correspondingly, the seismic moment are proportional to the size of the slipped area, i.e. to the sum of slipped patches. During slip, a local stress drop occurs which restores the subcritical state of the patches.
Sample 1

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