On the strategic origin of Brownian motion in finance

This paper is concerned with the strategic use of a private information on the stock market. A repeated auction model is used to analyze the evolution of the price system on a market with asymmetric information.  The model turns out to be a zero-sum repeated game with one-sided information, as introduced by Aumann and Maschler.  The stochastic evolution of the price system can be explicitly computed in the n times repeated case. As n grows to ∞, this process tends to a continuous time martingale related to a Brownian Motion.  This paper provides in this way an endogenous justification for the appearance of Brownian Motion in Finance theory. Received: February 2002     

Structure of the Triplet of low-lying states in101Mo

The properties of the triplet of low-lying states in¹⁰¹Mo have been studied through spectroscopy of theγ radiation following thermal neutron capture in¹⁰⁰Mo and β^? decay of¹⁰¹Nb and through a measurement of the proton angular distributions in the¹⁰⁰Mo(d,p) reaction with 14 MeV deuteron energy. The half-lives of the 13.5 keV state and the 57.0 keV 5/2⁺ state have been measured as 226(7) and 133(7)ns, respectively. These values and the quadrupole/dipole mixing ratios of the 13.5 keV and 43.5 keV transitions yield spin and parity 3/2⁺ for the 13.5 keV level. The E2 components in the 13.5 (3/2⁺ →1/2⁺) and 43.5 keV (5/2⁺→3/2⁺) transitions are ≦ 8·10^?4 and 54(9)%, respectively. The possibility of an additional state near to the 57.0 keV level is discussed. IBFM/PTQM calculations, taking into consideration the transitional character of the¹⁰⁰Mo boson core, account for the electromagnetic-transition and transfer-reaction pattern of the triplet of states.     

Quantum General Relativity,Torsion and Uncertainty Relations

It is shown that in gravitational theories with torsion one is led to commutation rules corresponding to Landau-Peierls type uncertainty relations.     

On Matter and Metric in Affine Theory of Gravity

The affine theory was conceived as a geometric model, wherein the connection field is the primary structure of the space-time. According to the program lying on the basis of this theory, metric and some sort of matter are somehow to be deduced from the connection field. In the present paper, we point out classical ways to a realization of this program. It is shown that, even in that case where the introduction of the metric seems to exclude the coupling of gravity to matter, the situation is not so hopeless as one may assume. In particular, for a symmetric Einstein tensor, it is answered the old question as to a self-consistent introduction of a metric and a metrical energy-momentum tensor controversially debated by Einstein, Eddington, and Weyl.     

Wavelength-Resolved 3-Dimensional Fluorescence Lifetime Imaging

We have developed a compact system for wide-field fluorescence imaging, resolved in three spatial dimensions, lifetime and wavelength, that is based on a gated optical intensifier and an all-solid-state diode pumped Cr:LiSAF oscillator-amplifier system. Exploiting spectral separation, the system has been applied to human teeth, obtaining good lifetime contrast between enamel, dentin and caries. Exploiting spectral separation combined with depth resolution, the study of fluorescent microspheres led to an enhancement in both lifetime contrast and lateral resolution.     

Frequency dependence of the freezing temperature in spin glasses: A comparative study of (La, Gd)B6, (Y, Gd)Al2 and (La, Gd)Al2

The frequency dependence of the freezing temperatureT _f() is determined for the dilute spin glass systems (La, Gd)B₆ and (Y, Gd)Al₂ in the frequency range 10–1,000 Hz. While for (La, Gd)B₆,T _f() is found to be weak, for (Y, Gd)Al₂ T _f() is even stronger than for the previously studied system (La, Gd)Al₂. Both, measurements of the temperature dependence of the susceptibility nearT _f and calculations of the RKKY pair interaction, suggest that this difference is correlated with a different sign of the nearest-neighbor interaction, which appears to be antiferromagnetic for (La, Gd)B₆ and ferromagnetic for (Y, Gd)Al₂ as well as (La, Gd)Al₂.     

Enhanced superconductivity in zirconium after H(D) implantation

Zirconium foils (superconducting transition atT _c =0.7 K) were implanted at liquid helium temperatures with hydrogen, deuterium and helium. In all cases a remarkable increase ofT _c was observed. Implantation of the inert He atoms leads only to the introduction of lattice defects, which is known to increaseT _c of Zr. However, the implanted H and D atoms exert an additional influence on the superconducting behavior based on a change of the electronic properties and an increase of the electron-phonon coupling. Introduction of lattice defects seems to account for theT _c increase to 1.49 K after He implantation, whereasT _c is even more enhanced by implantation of the hydrogen isotopes. The maximum values forT _c are 3.14 K for H and 4.65 K for D implantation. The concentration necessary to produce a saturation inT _c for both isotopes is H(D)/Zr0.13. The remarkably highT _c for the heavier isotope corresponds to an extreme inverse isotope effect. A smaller inverse isotope effect was found earlier in the Pd –H(D) system, where it could be explained by anharmonic effects.Dedicated to Prof. Dr. W. Buckel on the occasion of his 60th birthday     

PEGylated Luminescent Gold Nanoclusters: Synthesis,Characterization, Bioconjugation,and Application to One‐ and Two‐Photon Cellular Imaging

Biocompatible, near‐infrared luminescent gold nanoclusters (AuNCs) are synthesized directly in water using poly(ethylene glycol)‐dithiolane ligands terminating in either a carboxyl, amine, azide, or methoxy group. The ≈1.5 nm diameter AuNCs fluoresce at ≈820 nm with quantum yields that range from 4–8%, depending on the terminal functional group present, and display average luminescence lifetimes approaching 1.5 μs. The two‐photon absorption (TPA) cross‐section and two‐photon excited fluorescence (TPEF) properties are also measured. Long‐term testing shows the poly(ethylene glycol) stabilized AuNCs maintain colloidal stability in a variety of media ranging from saline to tissue culture growth medium along with tolerating storage of up to 2 years. DNA and dye‐conjugation reactions confirm that the carboxyl, amine, and azide groups can be utilized on the AuNCs for carbodiimide, succinimidyl ester, and Cu^I‐assisted cycloaddition chemistry, respectively. High signal‐to‐noise one‐ and two‐photon cellular imaging is demonstrated. The AuNCs exhibit outstanding photophysical stability during continuous‐extended imaging. Concomitant cellular viability testing shows that the AuNCs also elicit minimal cytotoxicity. Further biological applications for these luminescent nanoclustered materials are discussed.     

Isotope Studies of Hydrogen and Oxygen in Ground Ice - Experiences with the Equilibration Technique

Abstract

Equilibration technique suitable for a large amount ofsamples is described for hydrogen and oxygen isotope analyses of ground ice, especially ice wedges, including the sampling strategy and the analytical procedure as well as the calibration of the Finnigan MAT Delta-S mass spectrometer in June, 1999. Since for future analyses of ice wedges, a higher sampling resolution with limited sample volume is required, the limit of the equliibration technique for small water samples size of between 0.05 and 5 ml was checked. For water samples smaller than 1ml, corresponding to a molar ratio [H₂O]/[H₂] of smaller than 0.994, a balance correction has to be applied. The experimental errors due to partial evaporation during evacuation, the balance calcultion of the isotope equilibration process, the linearity as well as memory effects of the mass spectrometer for smaples with large differences in δ¹⁸O and δD are tackled in this paper. In the polar regions of Northern Siberia without Late Pleistocene and Holocene glaciation, ground ice is used as an archive for paleoclimate studies. First results of stable isotope measurements on ice wedges clearly show a shift towards heavier isotopes and thus warmer winter temperatures as well as a change in the source of the precipitation between Late Pleistocene and Holocene. These results indicate the high potential of ground ice for paleoclimate studies.