A new characterization of comonotonicity and its application in behavioral finance

It is well-known that an Rⁿ${\mathbb{R}}^n$-valued random vector (_X1,_X2,?,_Xn)$(X_1,X_2,?,X_n)$ is comonotonic if and only if (_X1,_X2,?,_Xn)$(X_1,X_2,?,X_n)$ and (_Q1(U),_Q2(U),?,_Qn(U))$(Q_1(U),Q_2(U),?,Q_n(U))$ coincide in distribution, for any random variable U   uniformly distributed on the unit interval (0,1)$(0,1)$, where _Qk(⋅)$Q_k(\cdot )$ are the quantile functions of _Xk$X_k$, k=1,2,?,n$k=1,2,?,n$. It is natural to ask whether (_X1,_X2,?,_Xn)$(X_1,X_2,?,X_n)$ and (_Q1(U),_Q2(U),?,_Qn(U))$(Q_1(U),Q_2(U),?,Q_n(U))$ can coincide almost surely for some special U. In this paper, we give a positive answer to this question by construction. We then apply this result to a general behavioral investment model with a law-invariant preference measure and develop a universal framework to link the problem to its quantile formulation. We show that any optimal investment output should be anti-comonotonic with the market pricing kernel. Unlike previous studies, our approach avoids making the assumption that the pricing kernel is atomless, and consequently, we overcome one of the major difficulties encountered when one considers behavioral economic equilibrium models in which the pricing kernel is a yet-to-be-determined unknown random variable. The method is applicable to general models such as risk sharing model.     

Models for singularity categories

In this article we construct various models for singularity categories of modules over differential graded rings. The main technique is the connection between abelian model structures, cotorsion pairs and deconstructible classes, and our constructions are based on more general results about localization and transfer of abelian model structures. We indicate how recollements of triangulated categories can be obtained model categorically, discussing in detail Krause?s recollement _Kac(Inj(R))→K(Inj(R))→D(R)${\mathrm{K}}_{\mathrm{ac}}(\mathrm{Inj}(R))\to \mathrm{K}(\mathrm{Inj}(R))\to \mathrm{D}(R)$. In the special case of curved mixed Z$\mathbb{Z}$-graded complexes, we show that one of our singular models is Quillen equivalent to Positselski?s contraderived model for the homotopy category of matrix factorizations.     

How rich is the class of multifractional Brownian motions?

The multifractional Brownian motion (MBM) processes are locally self-similar Gaussian processes. They extend the classical fractional Brownian motion processes _BH={_BH(t)_}t∈R$B_H=\{B_H(t){\}}_{t\in \mathbb{R}}$ by allowing their self-similarity parameter H∈(0,1)$H\in (0,1)$ to depend on time.     

Algebra of bounded polynomials on a set Zariski closed at infinity cannot be finitely generated

We prove that if a set S⊂Rⁿ$S\subset {\mathbb{R}}^n$ is Zariski closed at infinity, then the algebra of polynomials bounded on S cannot be finitely generated. It is a new proof of a fact already known to Plaumann and Scheiderer (2012) [1]. On the way we show that if the ring R[_ζ1,…,_ζk]⊂R[X]$\mathbb{R}[{\zeta }_1,\dots ,{\zeta }_k]\subset \mathbb{R}[X]$ contains the ideal (_ζ1,…,_ζk)R[X]$({\zeta }_1,\dots ,{\zeta }_k)\mathbb{R}[X]$, then the mapping (_ζ1,…,_ζk):Rⁿ→R^k$({\zeta }_1,\dots ,{\zeta }_k):{\mathbb{R}}^n\to {\mathbb{R}}^k$ is finite.     

The Schwarz genus of the Stiefel manifold

In this paper we compute: the Schwarz genus of the Stiefel manifold _Vk(Rⁿ)$V_k({\mathbb{R}}^n)$ with respect to the action of the Weyl group _Wk:=(Z/2)^k?_Sk$W_k:={(\mathbb{Z}/2)}^k?{\mathfrak{S}}_k$, and the Lusternik–Schnirelmann category of the quotient space _Vk(Rⁿ)/_Wk$V_k({\mathbb{R}}^n)/W_k$. Furthermore, these results are used in estimating the number of critically outscribed parallelotopes around a strictly convex body, and Birkhoff–James orthogonal bases of a normed finite dimensional vector space.     

Exact finite-difference schemes for two-dimensional linear systems with constant coefficients

An exact finite-difference scheme for a system of two linear differential equations with constant coefficients, (d/dt)x(t)=Ax(t)$(\mathrm{d}/\mathrm{d}t)\mathbf{x}(t)=A\mathbf{x}(t)$, is proposed. The scheme is different from what was proposed by Mickens [Nonstandard Finite Difference Models of Differential Equations, World Scientific, New Jersey, 1994, p. 147], in which the derivatives of the two equations are formed differently. Our exact scheme is in the form of (1/φ(h))(_xk+1-_xk)=A[θ_xk+1+(1-θ)_xk]$(1/\phi (h))({\mathbf{x}}_{k+1}-{\mathbf{x}}_k)=A[\theta {\mathbf{x}}_{k+1}+(1-\theta ){\mathbf{x}}_k]$; both derivatives are in the same form of (_xk+1-_xk)/φ(h)$(x_{k+1}-x_k)/\phi (h)$.     

Simple geometry facilitates iterative solution of a nonlinear equation via a special transformation to accelerate convergence to third order

Direct substitution _xk+1=g(_xk)$x_{k+1}=g(x_k)$ generally represents iterative techniques for locating a root z   of a nonlinear equation f(x)$f(x)$. At the solution, f(z)=0$f(z)=0$ and g(z)=z$g(z)=z$. Efforts continue worldwide both to improve old iterators and create new ones. This is a study of convergence acceleration by generating secondary solvers through the transformation _gm(x)=(g(x)-m(x)x)/(1-m(x))$g_m(x)=(g(x)-m(x)x)/(1-m(x))$ or, equivalently, through partial substitution _gmps(x)=x+G(x)(g-x)$g_{m\mathrm{ps}}(x)=x+G(x)(g-x)$, G(x)=1/(1-m(x))$G(x)=1/(1-m(x))$. As a matter of fact, _gm(x)≡_gmps(x)$g_m(x)\equiv g_{m\mathrm{ps}}(x)$ is the point of intersection of a linearised g   with the g=x$g=x$ line. Aitken's and Wegstein's accelerators are special cases of _gm$g_m$. Simple geometry suggests that m(x)=(g^′(x)+g^′(z))/2$m(x)=(g^{\prime }(x)+g^{\prime }(z))/2$ is a good approximation for the ideal slope of the linearised g  . Indeed, this renders a third-order _gm$g_m$. The pertinent asymptotic error constant has been determined. The theoretical background covers a critical review of several partial substitution variants of the well-known Newton's method, including third-order Halley's and Chebyshev's solvers. The new technique is illustrated using first-, second-, and third-order primaries. A flexible algorithm is added to facilitate applications to any solver. The transformed Newton's method is identical to Halley's. The use of m(x)=(g^′(x)+g^′(z))/2$m(x)=(g^{\prime }(x)+g^{\prime }(z))/2$ thus obviates the requirement for the second derivative of f(x)$f(x)$. Comparison and combination with Halley's and Chebyshev's solvers are provided. Numerical results are from the square root and cube root examples.     

Existence and examples of quantum isometry groups for a class of compact metric spaces

We formulate a definition of isometric action of a compact quantum group (CQG) on a compact metric space, generalizing Banica's definition for finite metric spaces. For metric spaces (X,d)$(X,d)$ which can be isometrically embedded in some Euclidean space, we prove the existence of a universal object in the category of the compact quantum groups acting isometrically on (X,d)$(X,d)$. In fact, our existence theorem applies to a larger class, namely for any compact metric space (X,d)$(X,d)$ which admits a one-to-one continuous map f:X→Rⁿ$f:X\to {\mathbb{R}}^n$ for some n   such that _d0(f(x),f(y))=?(d(x,y))$d_0(f(x),f(y))=?(d(x,y))$ (where _d0$d_0$ is the Euclidean metric) for some homeomorphism ?   of R⁺${\mathbb{R}}^{+}$.     

Global unique continuation from a half space for the Schrödinger equation

We obtain a global unique continuation result for the differential inequality |(i_∂t+Δ)u|?|V(x)u|$|(i{\partial }_t+\mathrm{\Delta })u|?|V(x)u|$ in Rⁿ⁺¹${\mathbb{R}}^{n+1}$. This is the first result on global unique continuation for the Schrödinger equation with time-independent potentials V(x)$V(x)$ in Rⁿ${\mathbb{R}}^n$. Our method is based on a new type of Carleman estimates for the operator i_∂t+Δ$i{\partial }_t+\mathrm{\Delta }$ on Rⁿ⁺¹${\mathbb{R}}^{n+1}$. As a corollary of the result, we also obtain a new unique continuation result for some parabolic equations.     

Rigidity of symmetric products

Given a metric continuum X, we consider the following hyperspaces of X  : 2^X$2^X$, _Cn(X)$C_n(X)$ and _Fn(X)$F_n(X)$ (n∈N$n\in \mathbb{N}$). Let _F1(X)={{x}:x∈X}$F_1(X)=\{\{x\}:x\in X\}$. A hyperspace K(X)$K(X)$ of X   is said to be rigid provided that for every homeomorphism h:K(X)→K(X)$h:K(X)\to K(X)$ we have that h(_F1(X))=_F1(X)$h(F_1(X))=F_1(X)$. In this paper we study under which conditions a continuum X   has a rigid hyperspace _Fn(X)$F_n(X)$.     

A sharp upper bound on the signless Laplacian spectral radius of graphs

Let G be a simple connected graph of order n   with degree sequence _d1,_d2,…,_dn$d_1,d_2,\dots ,d_n$ in non-increasing order. The signless Laplacian spectral radius ρ(Q(G))$\rho (Q(G))$ of G   is the largest eigenvalue of its signless Laplacian matrix Q(G)$Q(G)$. In this paper, we give a sharp upper bound on the signless Laplacian spectral radius ρ(Q(G))$\rho (Q(G))$ in terms of _di$d_i$, which improves and generalizes some known results.     

Inequalities for modified Bessel functions and their integrals

Simple inequalities for some integrals involving the modified Bessel functions _Iν(x)$I_{\nu }(x)$ and _Kν(x)$K_{\nu }(x)$ are established. We also obtain a monotonicity result for _Kν(x)$K_{\nu }(x)$ and a new lower bound, that involves gamma functions, for _K0(x)$K_0(x)$.     

Higher order energy decay for damped wave equations with variable coefficients

Under appropriate assumptions the higher order energy decay rates for the damped wave equations with variable coefficients c(x)_utt−div(A(x)∇u)+a(x)_ut=0$c(x)u_{tt}-\mathrm{div}(A(x)\mathrm{\nabla }u)+a(x)u_t=0$ in Rⁿ${\mathbb{R}}^n$ are established. The results concern weighted (in time) and pointwise (in time) energy decay estimates. We also obtain weighted L²$L^2$ estimates for spatial derivatives.