Portfolio rebalancing model with transaction costs based on fuzzy decision theory

The fuzzy set is one of the powerful tools used to describe an uncertain environment. As well as quantifying any potential return and risk, portfolio liquidity is taken into account and a linear programming model for portfolio rebalancing with transaction costs is proposed. The level of return that an investor might aspire to, the risk and the liquidity of portfolio are vague in an uncertain financial environment. Considering them as fuzzy numbers, we propose a portfolio rebalancing model with transaction costs based on fuzzy decision theory. An example is given to illustrate the behavior of the proposed model using real data from the Shanghai Stock Exchange.     

CONVERGENCE OF CASCADE ALGORITHMS AND SMOOTHNESS OF REFINABLE DISTRIBUTIONS

In this paper, the author at first develops a method to study convergence of the cascade algorithm in a Banach space without stable assumption on the initial (see Theorem 2.1), and then applies the previous result on the convergence to characterizing compactly supported refinable distributions in fractional Sobolev spaces and Holder continuous spaces (see Theorems 3.1, 3.3, and 3.4). Finally the author applies the above characterization to choosing appropriate initial to guarantee the convergence of the cascade algorithm (see Theorem 4.2).     

Approximation of multi-scale elliptic problems using patches of finite elements

In this paper we present a method to solve numerically elliptic problems with multi-scale data using multiple levels of not necessarily nested grids. The method consists in calculating successive corrections to the solution in patches whose discretizations are not necessarily conforming. It resembles the FAC method (see Math. Comp. 46 (174) (1986) 439–456) and its convergence is obtained by a domain decomposition technique (see Math. Comp. 57 (195) (1991) 1–21). However it is of much more flexible use in comparison to the latter. To cite this article: R. Glowinski et al., C. R. Acad. Sci. Paris, Ser. I 337 (2003).     

Smooth Frame-Path Termination for Higher Order Sigma-Delta Quantization

We study the performance of finite frames for the encoding of vectors by applying standard higher-order sigma-delta quantization to the frame coefficients. Our results are valid for any quantizer with accuracy ε > 0 operating in the no-overload regime. The frames under consideration are obtained from regular sampling of a path in a Hilbert space. In order to achieve error bounds that are comparable to results on higher-order sigma-delta for the quantization of oversampled bandlimited functions, we construct frame paths that terminate smoothly in the zero vector, that is, with an appropriate number of vanishing derivatives at the endpoint.     

Winding Numbers and Average Frequencies in Phase Oscillator Networks

We study networks of coupled phase oscillators and show that network architecture can force relations between average frequencies of the oscillators. The main tool of our analysis is the coupled cell theory developed by Stewart, Golubitsky, Pivato, and Torok, which provides precise relations between network architecture and the corresponding class of ODEs in R^M and gives conditions for the flow-invariance of certain polydiagonal subspaces for all coupled systems with a given network architecture. The theory generalizes the notion of fixed-point subspaces for subgroups of network symmetries and directly extends to networks of coupled phase oscillators. For systems of coupled phase oscillators (but not generally for ODEs in R^M, where M ≥ 2), invariant polydiagonal subsets of codimension one arise naturally and strongly restrict the network dynamics. We say that two oscillators i and j coevolve if the polydiagonal θ_i = θ_j is flow-invariant, and show that the average frequencies of these oscillators must be equal. Given a network architecture, it is shown that coupled cell theory provides a direct way of testing how coevolving oscillators form collections with closely related dynamics. We give a generalization of these results to synchronous clusters of phase oscillators using quotient networks, and discuss implications for networks of spiking cells and those connected through buffers that implement coupling dynamics.     

Structure and defects at Y2BaCuO5 interfaces in melt-textured YBa2Cu3Ox superconductors

Y₂BaCuO₅ (211) inclusions are prominent microstructural features found in melt-textured YBa₂Cu₃O_x (123) superconductors. These particles are of interest because the 123/211 interfaces and the interface-associated defects have been proposed to be flux pinning centers. In addition, the 211 particles are believed to be heterogeneous nucleation centers of dislocation which can increase the critical current density of 123. Unfortunately, only limited studies have been performed on these particles to ascertain their roles in flux pinning. In this investigation, 211 particles, the interfacial structure and defects in undeformed and mechanically deformed melt-textured 123 have been studied by transmission electron microscopy. It was found that there appears to be a preferred orientation between large oblong 211 particles and the 123 matrix. In addition, while the 123/211 interfaces in undeformed 123 are sharp and relatively undistorted, the interfaces in deformed 123 samples are much thicker. Also, the distribution of strained regions and dislocations around oblong 211 particles in undeformed 123 is nonuniform; the interfaces of low surface curvature are relatively free of defects while the surfaces of high curvature are abundant in dislocations. In contrast, the 123/211 interfaces in deformed 123 samples contain high density of dislocations regardless of interface curvature.     

The 23 K superconducting phase YPd2B2C

We have carried out a systematic structural, electric, and magnetic study on Y---Pd---B---C samples with different compositions with emphasis on the as-cast and annealed YPd₅B₃C_0.3 which was first reported to superconduct at 23 K by Cava et al. We found that the tetragonal body-centered YPd₂B₂C with lattice parameters a=3.71 Å and c=10.81 Å is the phase responsible for the 23 K superconductivity and that YPd₂B₂C is metastable, which is consistent with the suggestion made by Cava et al. [1]: it is not stable at high temperatures nor stabilizable by Ni doping, although its isostructural compound, YNi₂B₂C, exists. Two new phases with Y:Pd ratios of 1:7 and 2:3, respectively, have also bee detected.     

Intra- and intermolecular fluorescence quenching in 7-(pyridyl)indoles

Three isomeric 7-(pyridyl)indoles reveal very different, solvent-dependent photophysical properties. Due to rapid excited state depopulation involving intramolecular hydrogen bonding, 7-(2′-pyridyl)indole is practically nonfluorescent at room temperature. In nonpolar and polar aprotic solvents, 7-(3′-pyridyl)indole and 7-(4′-pyridyl)indole fluorescence strongly, but the emission is quenched in alcohols. Syn and anti rotameric forms of 7-(3′-pyridyl)indole are detected, each quenched to a different degree. This differential quenching is interpreted as evidence of enhanced S₁ → S₀ internal conversion being more efficient in cyclic solvates, with alcohol molecules forming a bridge between the proton donor and acceptor groups of an excited chromophore.     

Synthesis and structures of zirconium amide-iodide complexes

Zirconium amide-iodide complexes were synthesized for possible use as chemical vapor deposition precursors to zirconium nitride films. The series of six complexes Zr(NR(2))(4-n)I(n)(R = Me or Et; n = 1-3) was prepared by reacting ZrI(4) and Zr(NR(2))(4) in hot toluene. X-ray crystallographic analyses were performed for Zr(NMe(2))(3)I, Zr(NEt(2))(2)I(2), and Zr(NEt(2))I(3). In the solid state, Zr(NMe(2))(3)I and Zr(NEt(2))(2)I(2) are the discrete dimers [Zr(NMe(2))(2)I(mu-NMe(2))](2) and [Zr(NEt(2))(2)I(mu-I)](2), and Zr(NEt(2))I(3) is the polymer of dimers ([Zr(NEt(2))I(2)(mu-I)](2))(n). In solution, Zr(NEt(2))(3)I is proposed to be monomeric on the basis of NMR data and a molecular weight determination. The complex Zr(NEt(2))(3)I is the most promising precursor candidate because of its physical properties.     

Anionic templating: synthesis,structure, and characterization of novel three-dimensional mixed-metal oxychlorides Te(4)M(3)O(15).Cl (M = Nb(5+) or Ta(5+))

Two new three-dimensional oxychlorides are reported, Te(4)M(3)O(15).Cl (M = Nb(5+) or Ta(5+)). The isostructural materials were synthesized by chemical transport reactions utilizing TeO(2), M(2)O(5), and MCl(5) (M = Nb(5+) or Ta(5+)) as reagents. The compounds exhibit a three-dimensional cationic tunnel framework, with Cl(-) anions occupying the tunnels. Crystal data: monoclinic, space group C2/c, a = 18.9944(7) A, b = 7.8314(3) A, c = 21.1658(8) A, beta = 116.6400(10) degrees, Z = 8 (T = 295 K).