The dynamics of speculative behaviour

A number of recent empirical studies cast some doubt on the random walk theory of asset prices and suggest these display significant transitory components and complex chaotic motion. This paper analyses a model of fundamentalists and chartists which can generate a number of dynamic regimes which are compatible with the recent empirical evidence.     

Effect of substrate temperature on MAPLE deposition of synthetic eumelanin films

Eumelanin is an important pigment almost ubiquitous in animals and plants exhibiting interesting charge transport capabilities. Its poor solubility in common solvents represents a severe limitation for preparing thin films. It was recently demonstrated that eumelanin films can be successfully deposited with the MAPLE (Matrix Assisted Pulsed Laser Evaporation) technique starting from a frozen water suspension, using infrared laser radiation. The low laser absorption of ice together with the high absorption of eumelanin suggests that the target ablation is due to laser energy absorbed by the eumelanin molecules, followed by thermal energy transfer, and ejection of ice/water/vapor containing undamaged eumelanin molecules and supramolecular structures.     

Cosmic-muon results from the NUSEX experiment

Summary Muon underground data collected in the NUSEX experiment at Mont Blanc have been analysed concerning the following topics: I) vertical muon intensity, II) prompt muon flux, III) muons from the direction of Cygnus X-3. Preliminary results from the analysis of more than 20 000 muons are presented and discussed.

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Riassunto Gli eventi di muoni rivelati sottoterra nell'esperimento NUSEX al Monte Bianco sono stati analizzati per studiare I) l'intensità verticale dei muoni, II) il flusso di muoni pronti, III) l'eccesso di muoni dalla direzione di Cygnus X-3. In questo lavoro sono presentati c discussi i risultati preliminari ottenuti dal'lanalisi di piú di 20.000 eventi.

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Резюме Был проведен анализ данных, собранных в экспеимемнте NUSEX на Мон Блане. Анализировались следующие вопросы: 1) интенсивность вертикальных мюонов, 2) поток мгновенных (быстрых) мюонов, 3) мюоны, движущиеся в направлении от Лебедь X-3. Приводятся и обсуждаются предварительные результаты анализа для более, чем 20 000 муонов.

     

Limit on monopole flux in the Mont Blanc NUSEX experiment

Summary A trigger dedicated to the search of superheavy monopoles operates since about two years in the NUSEX apparatus, installed in the Mont Blanc tunnel. Monopoles are identified by time of flight and visualization of the pulses involved in a trigger. The present upper limit on monopole flux is 2.3·10⁻¹³ cm⁻² s⁻¹ sr⁻¹ (90% c.l.).

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Riassunto Da circa due anni è operativo sull'apparato NUSEX, installato nel tunnel del Monte Bianco, un trigger dedicato alla ricerca dei monopoli previsti dalle teorie di grande unificazione. L'identificazione dei monopoli è basata sul tempo di volo e sulla localizzazione nello spazio degli impulsi coinvolti nel trigger. Il limite superiore fino ad oggi raggiunto per il flusso di monopoli è 2.3·10⁻¹³ cm⁻²s⁻¹ sr⁻¹ (90% c.l.).

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Резюме Триггерная схема, предназначенная для поиска сверхтяжелых монополей, действует в течение почти двух лет в установке NUSEX, расположенной в туннеле под Мон Бланом. Идентификация монополей основана на времени пролета, а локализация в пространстве осуществляется с помощью импульсов в триггерной схеме. Настоящий верхний предел на поток монополей составляет 2.3· ·10⁻¹³ см⁻² с⁻¹ ср⁻¹ (к 90% вероятностью).

     

Halide and nitrite recognizing hexanuclear metallacycle copper(II) pyrazolates

Halide-centered hexanuclear, anionic copper(II) pyrazolate complexes [trans-Cu(6)((3,5-CF(3))(2)pz)(6)(OH)(6)X](-), X = Cl, Br, I are isolated in a good yield from the redox reaction of the trinuclear copper(I) pyrazolate complex [μ-Cu(3)((3,5-CF(3))(2)pz)(3)] with a halide source such as PPh(3)AuCl or [Bu(4)N]X, X = Cl, Br, or I, in air. X-ray structures of the anion-centered hexanuclear complexes show that the six copper atoms are bridged by bis(3,5-trifluoromethyl)pyrazolate and hydroxyl ligands above and below the six copper atom plane. The anions are located at the center of the cavity and weakly bound to the six copper atoms in a μ(6)-arrangement, Cu-X = ~3.1 ?. A nitrite-centered hexanuclear copper(II) pyrazolate complex [trans-Cu(6)((3,5-CF(3))(2)pz)(6)(OH)(6)(NO(2))](-) was obtained when a solution of [PPN]NO(2) in CH(3)CN was added dropwise to the trinuclear copper(I) pyrazolate complex [μ-Cu(3)((3,5-CF(3))(2)pz)(3)] dissolved in CH(3)CN, in air. Blue crystals are produced by slow evaporation of the acetonitrile solvent. The X-ray structure of [PPN][trans-Cu(6)((3,5-CF(3))(2)pz)(6)(OH)(6)(NO(2))] complex shows the nitrite anion sits in the hexanuclear cavity and is perpendicular to the copper plane with a O-N-O angle of 118.3(7)°. The (19)F and (1)H NMR of the pyrazolate ring atoms are sensitive to the anion present in the ring. Anion exchange of the NO(2)(-) by Cl(-) can be observed easily by (1)H NMR.     

Bounded continuously distributed delays in dynamic oligopolies

This paper introduces a way of modelling bounded continuously distributed time lags in dynamic economic models. Past data are averaged only over a bounded interval thus avoiding the use of very old (“stale”) economic data and hence making dynamic economic models more realistic. Dynamic oligopolies are formulated and then examined under this new type of information lag. Stability analysis is presented and the possibility of the birth of limit cycles is examined. Some special cases are considered, the computational analysis of which illustrates the theoretical findings.     

An integrative approach to 2D-macromodels of growth, price and inventory dynamics

This paper investigates two variants of a Keynesian model of monetary growth with sluggish price and quantity adjustments. The first model integrates the real growth dynamics of Rose's employment cycle, an inflationary dynamics of the Cagan type and Metzler's inventory dynamics. This model is based on intrinsic nonlinearities solely and it implies for the private sector six laws of motion, two for each of the subdynamics stated above. It is shown that the integrated model does not at all preserve the insights obtained from the three prototype subdynamics. Since this model can give rise to global instabilities even for moderate adjustment speeds of prices and quantities, a variant of this model is then introduced which exhibits one fundamental ‘nonintrinsic’ nonlinearity in its wage adjustment mechanism. This nonlinearity makes the considered 6D-dynamics at the same time extremely ‘viable’ and complex, in particular for a high adjustment speed of nominal wages.     

Observation of inclusive η production in ee annihilation at CM energies of 34 GeV

The inclusive production of η mesons at CM energies around 34 GeV has been studied for e⁺e⁻ annihilation into hadrons. The average number of η-mesons per event is found to be 0.72 ± 0.10 (stat.) ± 0.18 (syst.). The abundance of η's is studied as a function of event shape parameters and it is compared to the corresponding π⁰ rates.     

A Control Variate Method for Monte Carlo Simulations of Heath–Jarrow–Morton Models with Jumps

This paper examines the pricing of interest rate derivatives when the interest rate dynamics experience infrequent jump shocks modelled as a Poisson process. The pricing framework adapted was developed by Chiarella and Nikitopoulos to provide an extension of the Heath, Jarrow and Morton model to jump‐diffusions and achieves Markovian structures under certain volatility specifications. Fourier Transform solutions for the price of a bond option under deterministic volatility specifications are derived and a control variate numerical method is developed under a more general state dependent volatility structure, a case in which closed form solutions are generally not possible. In doing so, a novel perspective is provided on control variate methods by going outside a given complex model to a simpler more tractable setting to provide the control variates.