Calibration of a basket option model applied to company valuation

Applying real options thinking to company valuation seems theoretically and intuitively appealing. However, the real option analogy of a single European option as well as the compound option proxy perform poorly when applied to company valuation. We therefore suggest to rework the building blocks of real option applications to corporate valuation.  We introduce a framework to delineate the distribution of the underlying asset in the risk neutral world, which is important in order to value any derivative. This is achieved by an algorithm to calibrate a basket option model using real world data of observed share prices. The fitting takes account of the class of stable distributions. The index of stability of asymmetric α stable distribution serves as an over-all parameter to characterise the specific distribution.     

Algebraic composition operators

The focus of this paper is on the following problem. Given a linear space F of complex-valued functions on a set X and a polynomial p(z), is there an algebraic composition operator on F whose characteristic polynomial equals p(z)? We show that the supply of all the polynomials p(z) for which the answer to this question is affirmative depends heavily on the structure of the space F.     

High temperature stability of maghemite in partially oxidized basalt lava

Mössbauer spectroscopy of basalt lava samples, exhibiting reversible thermal magnetization (J_S-T) curves with Curie temperatures of about 580°C, has revealed considerable amounts of maghemite (γ-Fe₂O₃) in many samples. In view of the expected instability, of maghemite at temperatures above 350°C, this reversibility is rather surprising. Here we report Mössbauer studies on heated lava samples, showing high content of maghemite. The samples were kept at 600°C in oxidizing, reducing, and inactive atmospheres, respectively, for different lengths of time, and then analyzed with Mössbauer spectroscopy at room temperature. The Mössbauer spectra showed that maghemite is stable in the oxidizing atmosphere for at least several hours. In the inactive atmosphere a considerable amount of maghemite still exists after two hours heating. In the reducing atmosphere maghemite had transformed to magnetite after only 30 minutes.     

Dielectronic Recombination of Very Heavy Lithiumlike Ions

Hyperfine Interactions - An overview of measurements of dielectronic recombination (DR) with the heaviest lithiumlike ions is presented. The experiments have been carried out at the heavy ion...     

Convergence of generalized conjugate partial Fourier integrals

Generalized conjugate partial Fourier integrals are used to find jumps of functions. The rate of convergence is studied and sharp results are obtained.     

About the Linear Stability of the Spherically Symmetric Solution for the Equations of a Barotropic Viscous Fluid under the Influence of Self-Gravitation

This paper is concerned with the question of linear stability of motionless, spherically symmetric equilibrium states of viscous, barotropic, self-gravitating fluids. We prove the linear asymptotic stability of such equilibria with respect to perturbations which leave the angular momentum, momentum, mass and the position of the center of gravity unchanged. We also give some decay estimates for such perturbations, which we derive from resolvent estimates by means of analytic semigroup theory.     

Direct mass measurements of neutron-deficient 152Sm projectile fragments at the FRS-ESR facility

The FRS-ESR facility at GSI provides one of the most efficient methods for direct mass measurements. In the present experiment, exotic nuclei were produced via fragmentation of ¹⁵²Sm projectiles in a thick beryllium target at 500-600 MeV/u, separated in-flight with the fragment separator FRS, and injected into the storage-cooler ring ESR. Time-resolved Schottky Mass Spectrometry was applied for mass measurements of stored and electron-cooled bare and few-electron ions. 373 different nuclides were identified by means of the spectra of their revolution frequencies. Masses for 18 nuclides (⁸⁴Zr, ⁹²Ru, ⁹⁴Rh, ^107,108,110Sb, ^111,112,114I, ¹¹⁸Ba, ^122,123La, ¹²⁴Ce, ¹²⁷Pr, ¹²⁹Nd, ¹³²Pm, ¹³⁴Sm, ¹³⁷Eu) have been determined for the first time. Masses for ^111,112I and ¹¹³Xe have been obtained via known α-decay energies. The experiment and first results will be presented.     

Fourier Analysis of Semistable Distributions

We consider the generalized convolution powers G _α ^*u (x) of an arbitrary semistable distribution function G _α (x) of exponent α∈(0,2), and prove that for all j, k∈{0,1,2,…} and u>0 the derivatives G _α ^(k,j)(x;u)=∂ ^k+j G _α ^*u (x)/∂ x ^k ∂ u ^j , x∈ℝ, are of bounded variation on the whole real line ℝ. The proof, along with an integral recursion in j, is new even in the special case of stable laws, and the result provides a framework for possible asymptotic expansions in merge theorems from the domain of geometric partial attraction of semistable laws. An erratum to this article can be found at     

Time interval distributions of atoms in atomic beams

We report an experimental investigation of two-particle correlations between neutral atoms in a Hanbury Brown and Twiss experiment. Both an atom laser beam and a pseudo-thermal atomic beam are extracted from a Bose–Einstein condensate and the atom flux is measured with a single atom counter. We determine the conditional and the unconditional detection probabilities for the atoms in the beam and find good agreement with the theoretical predictions. PACS 03.75.Pp; 05.30.Jp; 07.77.Gx; 42.50.Pq