Bayesian modeling of financial returns: A relationship between volatility and trading volume

The modified mixture model with Markov switching volatility specification is introduced to analyze the relationship between stock return volatility and trading volume. We propose to construct an algorithm based on Markov chain Monte Carlo simulation methods to estimate all the parameters in the model using a Bayesian approach. The series of returns and trading volume of the British Petroleum stock will be analyzed. Copyright © 2009 John Wiley & Sons, Ltd.     

Young measure solutions of some nonlinear mixed‐type equations

This contribution deals with measure‐valued solutions to two types of nonlinear partial differential equations for which, in general, the results on the existence of classical or weak solutions fail. These are the potential equation for transonic flow and the associated unsteady problem (forward–backward diffusion equation). The solutions are constructed by an iteration scheme (Katchanov method) and additional time discretization (Rothe method) in the second case. The existence is proved in the sense of spatial gradient Young measures. Copyright © 2010 John Wiley & Sons, Ltd.     

Local magnetic field and muon site in CeAs

We report on zero field and longitudinal field μSR experiments on a CeAs single crystal between 3.3 and 12 K. Below the antiferromagnetic transition at 7.5 K a spontaneously precessing signal with a saturation frequency of \approx25 MHz representing the full sample amplitude has been found. From an analysis of the field dependence of the relaxation rate of this signal in \langle 100\rangle and \langle 110\rangle crystal orientation parallel to the muon spin and the applied longitudinal field, a \langle 100\rangle orientation of the local field at the muon site is concluded. This supports an AF‐I single‐\veck magnetic ordering. This revised version was published online in July 2006 with corrections to the Cover Date.     

Measurement of underground motion at the SSRF site

For the Shanghai Synchrotron Radiation Facility (SSRF) and future Shanghai Free‐Electron Laser projects, ground vibration is an important factor and, in order to attenuate it, the construction of a deep tunnel is under consideration. This paper concentrates on the investigation of ground vibration at different underground levels down to 60 m below surface, in order to understand the effect of vibration attenuation with depth. The effect of traffic is also studied using a 10 ton truck, with ground motion compared in different directions. Finally, a summary and some suggestions on these two projects are given.     

Role of cationic gemini surfactants toward enhanced ninhydrin–tryptophan reaction

In this paper we report the effect of dicationic ‘gemini’ surfactants (CH₃)₂C₁₆H₃₃N⁺? (CH₂)_m? N⁺C₁₆H₃₃(CH₃)₂, 2Br^? (where m = 4, 5, 6) on the reaction of ninhydrin with DL ‐tryptophan. The gemini surfactant micellar media are comparatively more effective than their conventional monomeric counterpart cetyltrimethylammonium bromide (CTAB) micelles. Also, whereas typical rate constant (k_ψ) increase and leveling‐off regions, just like CTAB, are observed with geminis, the latter produce a third region of increasing k_ψ at higher concentrations. These subsequent increases are ascribed to changes in micellar morphologies, consistent with changes in ¹H NMR line widths. Quantitative kinetic analysis of the rate constant–[surfactant] data has been performed on the basis of modified pseudophase model. Copyright © 2007 John Wiley & Sons, Ltd.     

Picosecond pulses from a cryogenically cooled, composite amplifier using Yb:YAG and Yb:GSAG

A cryogenic Yb amplifier using two laser materials, Gd3Sc2Al3O12 and Y3Al5O12 (YAG), has been used to obtain 70 W average power at 5 kHz pulse repetition frequency; the output was compressed to 1.6 ps, compared with an input compressible to 1.4 ps. The gain broadening obtained by combining two media enables shorter pulses than using Yb:YAG alone but retains the power-scaling advantages of cryogenic Yb:YAG.     

Rotational CARS N2 thermometry: validation experiments for the influence of nitrogen spectral line broadening by hydrogen

Rotational coherent anti‐Stokes Raman spectroscopy (CARS) in fuel‐rich hydrocarbon flames, with a large content of hydrogen in the product gases (∼20%), has in previous work shown that evaluated temperatures are raised several tens of Kelvin by taking newly derived N₂ H₂ Raman line widths into account. To validate these results, in this work calibrated temperature measurements at around 300, 500 and 700 K were performed in a cell with binary gas mixtures of nitrogen and hydrogen. The temperature evaluation was made with respect to Raman line widths either from self‐broadened nitrogen only, N₂ N₂ [energy‐corrected‐sudden (ECS)], or by also taking nitrogen broadened by hydrogen, N₂ H₂ [Robert–Bonamy (RB)], Raman line widths into account. With increased amount of hydrogen in the cell at constant temperature, the evaluated CARS temperatures were clearly lowered with the use of Raman line widths from self‐broadened nitrogen only, and the case with inclusion of N₂ H₂ Raman line widths was more successful. The difference in evaluated temperatures between the two different sets increases approximately linearly, reaching 20 K (at T ∼ 300 K), 43 K (at T = 500 K) and 61 K (at T = 700 K) at the highest hydrogen concentration (90%). The results from this work further emphasize the importance of using adequate Raman line widths for accurate rotational CARS thermometry. Copyright © 2010 John Wiley & Sons, Ltd.     

Spectroelectrochemical cell for in situ studies of solid oxide fuel cells

Solid oxide fuel cells (SOFCs) are able to produce electricity and heat from hydrogen‐ or carbon‐containing fuels with high efficiencies and are considered important cornerstones for future sustainable energy systems. Performance, activation and degradation processes are crucial parameters to control before the technology can achieve breakthrough. They have been widely studied, predominately by electrochemical testing with subsequent micro‐structural analysis. In order to be able to develop better SOFCs, it is important to understand how the measured electrochemical performance depends on materials and structural properties, preferably at the atomic level. A characterization of these properties under operation is desired. As SOFCs operate at temperatures around 1073 K, this is a challenge. A spectroelectrochemical cell was designed that is able to study SOFCs at operating temperatures and in the presence of relevant gases. Simultaneous spectroscopic and electrochemical evaluation by using X‐ray absorption spectroscopy and electrochemical impedance spectroscopy is possible.     

A thioester substrate binds to the enzyme Arthrobacter thioesterase in two ionization states: evidence from Raman difference spectroscopy

4‐Hydroxybenzoyl‐CoA (4‐HB‐CoA) thioesterase from Arthrobacter is the final enzyme catalyzing the hydrolysis of 4‐HB‐CoA to produce coenzyme A and 4‐hydroxybenzoic acid in the bacterial 4‐chlorobenzoate dehalogenation pathway. Using a mutation E73A that blocks catalysis, stable complexes of the enzyme and its substrate can be analyzed by Raman difference spectroscopy. Here we have used Raman difference spectroscopy, in the non‐resonance regime, to characterize 4‐HB‐CoA bound in the active site of the E73A thioesterase. In addition, we have characterized complexes of the wild‐type enzyme complexed with the unreactive substrate analog 4‐hydroxyphenacyl‐CoA (4‐HP‐CoA). Both sets of complexes show evidence for two forms of the ligand in the active site: one population has the 4‐hydroxy group protonated, 4‐OH; while the second has the group as the hydroxide, 4‐O⁻. For bound 4‐HP‐CoA, X‐ray data show that glutamate 78 is close to the 4‐OH in the complex and it is likely that this is the proton acceptor for the 4‐OH proton. Although the pK_a of the 4‐OH group on the free substrate in aqueous solution is 8.6, the relative populations of ionized and neutral 4‐HB‐CoA bound to E73A remain invariant between pH 7.3 and 9.8. The invariance with pH suggests that the 4‐OH and the ‐COO⁻ of E78 constitute a tightly coupled pair where their separate pK_a ‘s lose their individual qualities. Narrow band profiles are seen in the CO double bond and C‐S regions, suggesting that the hydrolyzable thioester group is rigidly bound in the active site in a syn gauche conformation. Copyright © 2011 John Wiley & Sons, Ltd.     

Low‐temperature Extensions of the Virial Equation of State for Solar Modeling

Low‐order density expansions cannot adequately describe recombination reactions. Therefore, the usefulness of an exact quantum virial expansion truncated at the order of ?^5/2 is limited to the deeper interior of the Sun, where the plasma is nearly fully ionized. Here, intermediate steps towards full‐fledged solar modeling are presented. They are (i) a smooth numerical representation of the quantum virial expansion and (ii) the construction of a smooth transition to the low‐temperature regime (below 50,000 K), where the virial expansions breaks down due to H recombination. These technical steps are realized for a simplified H‐only plasma; the extension to He and heavier elements will be dealt with later. Ultimately, the outcome will be that solar observations can be used to test the accuracy of the virial equation of state and to compare it with current more phenomenological formalisms (© 2011 WILEY‐VCH Verlag GmbH & Co. KGaA, Weinheim)