Arithmetic returns for investment performance measurement

This paper introduces new money-weighted metrics for investment performance analysis, based on arithmetic means of holding period rates weighted by the investment’s market values. This approach generates rates of return which measure a fund’s or portfolio’s performance and a fund manager’s performance. It also enables to show that the Internal Rate of Return (IRR) is a weighted mean of holding period rates associated with interim values which differ from market values, so that value additivity is violated. The manager’s Arithmetic Internal Rate of Return (AIRR) is shown to be the true period equivalent of the cumulative Time Weighted Rate of Return (TWRR), whereas the period TWRR (a geometric return) provides a different ranking. The method is easily generalized for coping with varying benchmark rates. We also cope with the practical problem of estimating interim values whenever they are not available.     

L 2 Harmonic 1-Forms on Minimal Submanifolds in Spheres

We study a complete noncompact minimal submanifold M ⁿ in a sphere S ^n+p . We prove there is no nontrivial L ² harmonic 1-form and at most one nonparabolic end on M if the total curvature is bounded from above by a constant depending only on n. The rigidity theorem is a generalized version of Ni’s, Yun’s and the second author’s results on submanifolds in Euclidean spaces and Seo’s result on minimal submanifolds in hyperbolic spaces.     

A Defense of McDowell’s Response to the Sceptic

Crispin Wright argues that John McDowell’s use of disjunctivism to respond to the sceptic misses the point of the sceptic’s argument, for disjunctivism is a thesis about the differing metaphysical natures of veridical and nonveridical experiences, whereas the sceptic’s point is that our beliefs are unjustified because veridical and nonveridical experiences can be phenomenally indistinguishable. In this paper, I argue that McDowell is responsive to the sceptic’s focus on phenomenology, for the point of McDowell’s response is that it is the phenomenal character of experience that makes the belief in disjunctivism rational, and thereby also makes rational the anti-sceptical belief that, other things being equal, the world is the way it appears.     

Brouwer and Euclid

We explore the relationship between Brouwer’s intuitionistic mathematics and Euclidean geometry. Brouwer wrote a paper in 1949 called The contradictority of elementary geometry. In that paper, he showed that a certain classical consequence of the parallel postulate implies Markov’s principle, which he found intuitionistically unacceptable. But Euclid’s geometry, having served as a beacon of clear and correct reasoning for two millennia, is not so easily discarded.Brouwer started from a “theorem” that is not in Euclid, and requires Markov’s principle for its proof. That means that Brouwer’s paper did not address the question whether Euclid’s Elements really requires Markov’s principle. In this paper we show that there is a coherent theory of “non-Markovian Euclidean geometry”. We show in some detail that our theory is an adequate formal rendering of (at least) Euclid’s Book I, and suffices to define geometric arithmetic, thus refining the author’s previous investigations (which include Markov’s principle as an axiom).Philosophically, Brouwer’s proof that his version of the parallel postulate implies Markov’s principle could be read just as well as geometric evidence for the truth of Markov’s principle, if one thinks the geometrical “intersection theorem” with which Brouwer started is geometrically evident.     

Four dimensional matrix that induces the double Gibbs phenomenon

In 1930 Knopp presented the following matrix characterization for the core of ordinary sequences. If A is a nonnegative regular matrix then the core of [Ax] is contained in the core of [x], provided that [Ax] exists. Patterson in 1999 extended Knopp’s results to double sequences via four dimensional matrices. In a manner similar to the Knopp’s and Patterson’s results we present multidimensional extensions of Bustoz’s singular dimensional Gibbs phenomenon results. These results include a notion of what it means for a four dimensional matrix transformation to induce the double Gibbs phenomenon in s. In addition, necessary and sufficient conditions for a four dimensional matrix to induce the double Gibbs phenomenon is also presented.     

Convergence of a continuation method under the Hölder condition of the first derivative

The aim of this paper is to describe a continuation method combining the Chebyshev’s method and the convex acceleration of Newton’s method to solve nonlinear equations in Banach spaces. The semilocal convergence analysis of the method is established using recurrence relations under the assumption that the first Fréchet derivative satisfies the Hölder continuity condition. This condition is milder than the usual Lipschitz condition. The computation of second Fréchet derivative is also avoided. Two real valued functions and a real sequence are used to establish a convergence criterion of R-order (1+p), where p∈(0,1] is the order of the Hölder condition. An existence and uniqueness theorem along with the closed form of error bounds is derived in terms of a real parameter α∈[0,1]. Two numerical examples are worked out to demonstrate the efficacy of our convergence analysis. For both the examples, the convergence conditions hold for the Chebyshev’s method (α=0). However, for the convex acceleration of Newton’s method (α=1), these convergence conditions hold for the first example but fail for the second example. For particular values of α, our method reduces to the Chebyshev’s method (α=0) and the convex acceleration of Newton’s method (α=1).     

Identities and congruences for the general partition and Ramanujan’s tau functions

We present some identities and congruences for the general partition function p _r (n). In particular, we deduce some known identities for Ramanujan’s tau function and find simple proofs of Ramanujan’s famous partition congruences for modulo 5 and 7. Our emphasis throughout this paper is to exhibit the use of Ramanujan’s theta functions to generate identities and congruences for general partition function.     

Refined Young inequalities with Specht’s ratio

In this paper, we show that the ν-weighted arithmetic mean is greater than the product of the ν-weighted geometric mean and Specht’s ratio. As a corollary, we also show that the ν-weighted geometric mean is greater than the product of the ν-weighted harmonic mean and Specht’s ratio. These results give the improvements for the classical Young inequalities, since Specht’s ratio is generally greater than 1. In addition, we give an operator inequality for positive operators, applying our refined Young inequality.     

Kant, Spinoza, and the Metaphysics of the Ontological Proof

This paper provides an interpretation and evaluation of Spinoza’s highly original version of the ontological proof in terms of the concept of substance instead of the concept of perfection in the first book of his Ethics. Taking the lead from Kant’s critique of ontological arguments in the Critique of Pure Reason, the paper explores the underlying ontological and epistemological presuppositions of Spinoza’s proof. The main topics of consideration are the nature of Spinoza’s definitions, the way he conceives of the relation between a substance and its essence, and his conception of existence. Once clarity is shed upon these fundamental issues, it becomes possible to address the proof in its own terms. It is then easy to see that Kant’s objections miss their target and that the same is true of those advanced by another of the ontological argument’s most famous critics, Bertrand Russell. Finally, several interpretations of Spinoza’s proof are proposed and critically evaluated; on all of them, the argument turns out to be either invalid or question-begging.     

Quantum exotic PDE’s

Following the previous works on the Prástaro’s formulation of algebraic topology of quantum (super) PDE’s, it is proved that a canonical Heyting algebra (integral Heyting algebra) can be associated to any quantum PDE. This is directly related to the structure of its global solutions. This allows us to recognize a new inside in the concept of quantum logic for microworlds. Furthermore, the Prástaro’s geometric theory of quantum PDE’s is applied to the new category of quantum hypercomplex manifolds, related to the well-known Cayley–Dickson construction for algebras. Theorems of existence for local and global solutions are obtained for (singular) PDE’s in this new category of noncommutative manifolds. Finally, the extension of the concept of exotic PDE’s, recently introduced by Prástaro, has been extended to quantum PDE’s. Then a smooth quantum version of the quantum (generalized) Poincaré conjecture is given too. These results extend ones for quantum (generalized) Poincaré conjecture, previously given by Prástaro.     

An embedding of semigroups into regular semigroups that preserves structure and finiteness

For any semigroup S a regular semigroup is described here that embeds S and is such that its non-trivial maximal subgroups are isomorphic to the Schützenberger groups of S, its Green’s relations restrict to the corresponding Green’s relations on S and it is finite when S is finite.     

Modules with Nakayama’s property

Modules M _A with Nakayama’s property are studied. In particular, for a right invariant ring A, it is proved that all right A-modules satisfy Nakayama’s property if and only if the ring A is right perfect.     

To be or not to be constructive,that is not the question

In the early twentieth century, L.E.J. Brouwer pioneered a new philosophy of mathematics, called intuitionism. Intuitionism was revolutionary in many respects but stands out – mathematically speaking – for its challenge of Hilbert’s formalist philosophy of mathematics and rejection of the law of excluded middle from the ‘classical’ logic used in mainstream mathematics. Out of intuitionism grew intuitionistic logic and the associated Brouwer–Heyting–Kolmogorov interpretation by which ‘there exists $x$’ intuitively means ‘an algorithm to compute $x$ is given’. A number of schools of constructive mathematics were developed, inspired by Brouwer’s intuitionism and invariably based on intuitionistic logic, but with varying interpretations of what constitutes an algorithm. This paper deals with the dichotomy between constructive and non-constructive mathematics, or rather the absence of such an ‘excluded middle’. In particular, we challenge the ‘binary’ view that mathematics is either constructive or not. To this end, we identify a part of classical mathematics, namely classical Nonstandard Analysis, and show it inhabits the twilight-zone between the constructive and non-constructive. Intuitively, the predicate ‘$x$ is standard’ typical of Nonstandard Analysis can be interpreted as ‘$x$ is computable’, giving rise to computable (and sometimes constructive) mathematics obtained directly from classical Nonstandard Analysis. Our results formalise Osswald’s longstanding conjecture that classical Nonstandard Analysis is locally constructive. Finally, an alternative explanation of our results is provided by Brouwer’s thesis that logic depends upon mathematics.     

Calculation of Bezout’s coefficients for the <Emphasis Type="Italic">k</Emphasis>-ary algorithm of finding GCD

Bezout’s equation is a representation of the greatest common divisor d of integers A and B as a linear combination Ax + By = d, where x and y are integers called Bezout’s coefficients. The task of finding Bezout’s coefficients has numerous applications in the number theory and cryptography, for example, for calculation of multiplicative inverse elements in modular arithmetic. Usually Bezout’s coefficients are caclulated using the extended version of the classical Euclidian algorithm.We elaborate a new algorithm for calculating Bezout’s coefficients based on the k-ary GCD algorithm.     

Funayama’s theorem revisited

Funayama’s theorem states that there is an embedding e of a lattice L into a complete Boolean algebra B such that e preserves all existing joins and meets in L iff L satisfies the join infinite distributive law (JID) and the meet infinite distributive law (MID). More generally, there is a lattice embedding e: L → B preserving all existing joins in L iff L satisfies (JID), and there is a lattice embedding e: L → B preserving all existing meets in L iff L satisfies (MID). Funayama’s original proof is quite involved. There are two more accessible proofs in case L is complete. One was given by Grätzer by means of free Boolean extensions and MacNeille completions, and the other by Johnstone by means of nuclei and Booleanization. We show that Grätzer’s proof has an obvious generalization to the non-complete case, and that in the complete case the complete Boolean algebras produced by Grätzer and Johnstone are isomorphic. We prove that in the non-complete case, the class of lattices satisfying (JID) properly contains the class of Heyting algebras, and we characterize lattices satisfying (JID) and (MID) by means of their Priestley duals. Utilizing duality theory, we give alternative proofs of Funayama’s theorem and of the isomorphism between the complete Boolean algebras produced by Grätzer and Johnstone. We also show that unlike Grätzer’s proof, there is no obvious way to generalize Johnstone’s proof to the non-complete case.     

Mathematics education and democracy

In this paper, we investigate the relationship between mathematics education and the notions of education for all/democracy. In order to proceed with our analysis, we present Marx’s concept of commodity and Jean Baudrillard’s concept of sign value as a theoretical reference in the discussion of how knowledge has become a universal need in today’s society and ideology. After, we engage in showing mathematics education’s historical and epistemological grip to this ideology. We claim that mathematics education appears in the time period that English becomes an international language and the notion of international seems to be a key constructor in the constitution of that ideology. Here, we draw from Derrida’s famous saying that “there is nothing beyond the text”. We conclude that a critique to modern society and education has been developed from an idealistic concept of democracy.     

Conditional Probability on the Kopka＇s D-posets

K?pka’s D-poset is a very important notion in quantum structures. In this paper the conditional probability on the K?pka’s D-posets is studied. The notion of conditional probability is introduced and the basic properties of conditional probability are proved.     

Warfield’s Duality and Malcev’s Matrix

In this work, we investigate relations between Malcev’s matrices of a torsion-free group G of finite rank and Malcev’s matrices of groups Hom(R,G) and Hom(G,R), where G is a locally free group and R is a torsion-free group of rank 1.     

Noncontinuous maps and Devaney’s chaos

Vu Dong Tô has proven in [1] that for any mapping f: X → X, where X is a metric space that is not precompact, the third condition in the Devaney’s definition of chaos follows from the first two even if f is not assumed to be continuous. This paper completes this result by analysing the precompact case. We show that if X is either finite or perfect one can always find a map f: X → X that satisfies the first two conditions of Devaney’s chaos but not the third. Additionally, if X is neither finite nor perfect there is no f: X → X that would satisfy the first two conditions of Devaney’s chaos at the same time.