Radner equilibrium in incomplete Lévy models

We construct continuous-time equilibrium models based on a finite number of exponential utility investors. The investors’ income rates as well as the stock’s dividend rate are governed by discontinuous Lévy processes. Our main result provides the equilibrium (i.e., bond and stock price dynamics) in closed-form. As an application, we show that the equilibrium Sharpe ratio can be increased and the equilibrium interest rate can be decreased (simultaneously) when the investors’ income streams cannot be traded.     

Speciation and legislation – Where are we today and what do we need for tomorrow?

In international legislation concerning trace elements in food, in the environment or in occupational health most regulations are based on the total element contents, and are frequently given as maximum limits or guideline levels. In contrast, only few regulations pay attention to the molecular species in which the elements are bound. The international legislation concerning contaminants in food is presently being established in the Codex Alimentarius, which is an independent United Nations organisation under the joint FAO/WHO Food Standards Programme. Development of the Codex General Standard for Contaminants and Toxins in Food provides the framework for future international legislation on metals as contaminants in food. For certain food additives, which include some essential minerals, speciation is an integral part of the set of specification criteria, because only certain defined chemical compounds are permitted as sources of the essential element. The development of more species-specific analytical and toxicological data, and improved communication with legislators will be necessary before it will become possible to lay down species-specific regulations in all the cases where the specialised scientist will consider it reasonable.     

Aggregation-Induced Emission by Molecular Design: A Route to High-Performance Light-Emitting Electrochemical Cells

The emission efficiency of organic semiconductors (OSCs) often suffers from aggregation caused quenching (ACQ). An elegant solution is aggregation-induced emission (AIE), which constitutes the design of the OSC so that its morphology inhibits quenching π–π interactions and non-radiative motional deactivation. The light-emitting electrochemical cell (LEC) can be sustainably fabricated, but its function depends on motion of bulky ions in proximity of the OSC. It is therefore questionable whether the AIE morphology can be retained during LEC operation. Here, we synthesize two structurally similar OSCs, which are distinguished by that 1 features ACQ while 2 delivers AIE. Interestingly, we find that the AIE-LEC significantly outperforms the ACQ-LEC. We rationalize our finding by showing that the AIE morphology remains intact during LEC operation, and that it can feature appropriately sized free-volume voids for facile ion transport and suppressed non-radiative excitonic deactivation.     

X-ray absorption spectroscopy and density functional theory studies of [(H3buea)FeIII-X]n- (X = S2-, O2-, OH-): comparison of bonding and hydrogen bonding in oxo and sulfido complexes

Iron L-edge, iron K-edge, and sulfur K-edge X-ray absorption spectroscopy was performed on a series of compounds [Fe(III)H(3)buea(X)](n-) (X = S(2-), O(2-), OH(-)). The experimentally determined electronic structures were used to correlate to density functional theory calculations. Calculations supported by the data were then used to compare the metal-ligand bonding and to evaluate the effects of H-bonding in Fe(III)(-)O vs Fe(III)(-)S complexes. It was found that the Fe(III)(-)O bond, while less covalent, is stronger than the Fe(III)(-)S bond. This dominantly reflects the larger ionic contribution to the Fe(III)(-)O bond. The H-bonding energy (for three H-bonds) was estimated to be -25 kcal/mol for the oxo as compared to -12 kcal/mol for the sulfide ligand. This difference is attributed to the larger charge density on the oxo ligand resulting from the lower covalency of the Fe-O bond. These results were extended to consider an Fe(IV)(-)O complex with the same ligand environment. It was found that hydrogen bonding to Fe(IV)(-)O is less energetically favorable than that to Fe(III)(-)O, which reflects the highly covalent nature of the Fe(IV)(-)O bond.     

Enzyme analysis by means of the air-gap electrode-determination of urease and arginase by monitoring of the initial reaction rate

The air-gap electrode has been used in kinetic chemical analysis, illustrated by the assay of the activities of the enzymes urease and arginase. The determinations are based on monitoring the initial reaction rates of the selective release of ammoniacal nitrogen, which in the arginine—arginase system was ensured by adding excess of urease. The reaction rates measured are in the range 2.5 · 10^-5—1.5 · 10^-3M min^-1; the relative standard deviation is ca. 2.8 %.     

Cu-catalyzed tandem C-N bond formation for the synthesis of pyrroles and heteroarylpyrroles

A highly efficient Cu-catalyzed tandem C-N bond-forming reaction of 1,4-dihalo-1,3-dienes has been developed. The transformation allows the synthesis of pyrroles and heteroarylpyrroles with a wide variety of functional groups and substitution patterns from readily available precursors.     

Highly efficient and mild synthesis of variously 5-substituted-4-carbaldehyde-1,2,3-triazole derivatives

Synthesis of variously 5-substituted-4-carbaldehyde-1,2,3-triazole derivatives 2 was accomplished by reacting sodium azide with ,β-acetylenic aldehydes 1 in DMSO at room temperature. Therefore, the reaction remains basic avoiding the generation of the hazardous explosive HN₃, resulting in a safe process. This mild and general reaction was instantaneous and was essentially quantitative.     

Electrochemical and electrocatalytic studies of the N,N′-(1R,2R)-(–)-1,2-cyclohexylenebis(salicylideneiminato)cobalt(II) complex

The electrochemical properties and catalytic activity of a Co(II) complex with the optically active Schiff base derived from (1R,2R)-(–)-cyclohexanediamine and salicylaldehyde have been studied in non-aqueous solutions. When dissolved in deoxygenated non-aqueous solutions, the complex exhibits reversible redox properties for the Co(II)/Co(III) couple. Electrochemical reduction of oxygen and oxidation of cobalt(II) was observed on cyclic voltammograms of solutions containing both dioxygen and the Schiff base-cobalt(II) complex. An anodically formed film on a platinum electrode, studied by means of X-ray photoelectron spectroscopy, revealed the presence of the oxidized Co(III) species. Cyclic voltammetry of oxygenated solutions examined after a period of time indicates an electrochemical activity of coordinated superoxo/peroxo species in the 0.7–1.1 V potential range. In the presence of 4-methyl-1-cyclohexene the cyclic voltammetry curves reveal changes similar to those caused by the removal of oxygen. The GC-MS technique was used to identify some of the products formed by the catalytic oxidation of cyclohexene and 4-methyl-1-cyclohexene. Electronic Publication     

Total synthesis of (+)-hatomarubigin B.

The first total synthesis of (+)-hatomarubigin 3 is described. The tetra-O-acetyl diborate promoted Diels-Alder reaction of 5-hydroxy-8-(2',3',4',6'-tetra-O-acetyl-beta-D-glucopyranosyloxy)-1,4-naphthoquinone 8 and (E, 1R*,5R*)-3-(2'-methoxyvinyl)cyclohex-2-enol (+/-)-7 gave a mixture of four cycloadducts from which (1S,3S,6S,6aR,12aR,12bS)-1,8-dihydroxy-6-dimethoxy-1-hydroxy-3-methyl-11-(2',3',4',6'-tetra-O-acetyl-beta-D-glucopyranosyloxy)-1,2,3,4,6,6a,12a,12b-octahydrobenz[a]anthracene-7,12-dione 12 was isolated in 51% yield. Selective methylation and acetylation of 12 gave (1S,3S,6S,6aR,12aR,12bS)-1-acetoxy-6,8-dimethoxy-3-methyl-11-(2,3,4,6-tetra-O-acetyl-alpha-D-glucopyranosyloxy)-1,2,3,4,6,6a,12a,12b-octahydrobenz[a]anthracene-7,12-dione 10a. Sequential aromatization, photooxidation and hydrolysis of the glucosyl unit gave (+)-3 (98% ee) in an 8% overall yield from 8.     

Fragmentation pathways of organoarsenical compounds by electrospray ion trap multiple mass spectrometry (MS6)

With its detection limit well below 30 pg microl(-1) LC-MS-MS has become a sensitive and thus popular analytical technique for organoarsenical compounds. Collision induced dissociation (CID) is a valuable tool for speciation and facilitates a positive identification of the species detected. However, it is not straightforward to understand the fragmentation pathways of organoarsenical compounds when only CID-MS-MS data is available. In the present paper we have investigated multiple mass spectrometry (MSn, n=1, 2, 3, 4, 5, 6) with electrospray CID fragmentation for a number of organoarsenical compounds likely to occur in the environment. The investigated compounds were tetramethylarsonium, trimethylarsinoxide, monomethylarsonic acid, dimethylarsinic acid, arsenobetaine, arsenocholine, and dimethylarsinoylethanol. By CID of (protonated) organoarsenical cations mostly even-electron fragments are produced after neutral loss processes such as elimination of H2, H2O, CH4, C2H2, C2H4, C2H6, HCHO, CH3OH, C2H5OH, C2H4O, and CH2CO. However, abundant odd-electron fragments are also formed after elimination of radical species. Evidence for reduction of As(V) to As(III) as a driving force in the odd-electron ion formation is obtained.