We develop a quasi‐analytical pricing method for discretely sampled arithmetic Asian options. We derive an asymptotic approximation of the arithmetic average with the geometric average of lognormal variables. Numerical experiments show that the asymptotic approximation is accurate and the absolute error converges very quickly as the number of observations increases. The absolute error is of the order of 10−5 to 10−6 for daily average. We then derive quasi‐analytical formulas for arithmetic Asian options under the Black–Scholes framework, in which the probability density of the geometric average is used. Extensive experiments are conducted to compare the proposed method with the various existing semianalytical methods. The overall accuracy of the proposed method is better than any other methods tested. The proposed method performs much better than the second best one for at‐the‐money Asian options under high volatility. The mean pricing error of the proposed method for a daily average Asian option is 37.5% less than the second best one. © 2012 Wiley Periodicals, Inc. Jrl Fut Mark 33:1143–1166, 2013

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Under the "Internet +"new normal view, the MIL (media and information literacy) education has become the trend of the integration of Internet, pedagogy, and communication. At the same time, taking MIL education of college teachers as a starting point will be conducive to the advancement of higher education and the construction of network power. This paper clarifies the conceptual connotation of college teachers' MIL, analyzes the research status and existing problems of MIL and college teachers' MIL education from three aspects of government, universities and teachers respectively, and put forward the promotion strategies of college teachers' MIL education.

Abstract-"Senior life enrichment through education" as an old-age social background of the old-age concept, enriches the development of the connotation of education for the elderly. Based on the trends and characteristics of the aging population in China, defines the basic connotation of "senior life enrichment through education", elaborate the relationship between "senior life enrichment through education" and education for the aged education, Based on the concept and development trend of "senior life enrichment through education", puts forward targeted strategies to promote the combination of education and provide for the aged, integrate elderly education into the community, develop wisdom education for older generation, focus on the development of the elderly's spirit and coexist with multiple supply mechanisms.

Although it has been traditionally accepted that quebi 缺筆, one of the name taboo (bihui 避諱) methods, appeared in Tang Gaozong's reign (649 -683), a number of unexamined examples attest that quebi may have appeared in Tang Taizong's reign (626 -649). This advancement enhances the usage of bihui to conduct research and urges us to rethink the 7th-century development of bihui.