Space-Time Topology (II)—Causality, the Fourth Stiefel–Whitney Class and Space-Time as a Boundary

We show that stable causality is related to the vanishing of the top Stiefel–Whitney class of a space-time manifold M, and that if M is a stably causal space-time manifold, then it is the boundary of a five-dimensional space-time. We then propose a scheme for making it both a necessary and sufficient condition.     

Approximating weak Chebyshev subspaces by Chebyshev subspaces

We examine to what extent finite-dimensional spaces defined on locally compact subsets of the line and possessing various weak Chebyshev properties (involving sign changes, zeros, alternation of best approximations, and peak points) can be uniformly approximated by a sequence of spaces having related properties.     

Minimal, rigid foliations by curves on ℂℙ n

We prove the existence of minimal and rigid singular holomorphic foliations by curves on the projective space ℂℙ ⁿ for every dimension n≥2 and every degree d≥2. Precisely, we construct a foliation ℱ which is induced by a homogeneous vector field of degree d, has a finite singular set and all the regular leaves are dense in the whole of ℂℙ ⁿ . Moreover, ℱ satisfies many additional properties expected from chaotic dynamics and is rigid in the following sense: if ℱ is conjugate to another holomorphic foliation by a homeomorphism sufficiently close to the identity, then these foliations are also conjugate by a projective transformation. Finally, all these properties are persistent for small perturbations of ℱ.?This is done by considering pseudo-groups generated on the unit ball 𝔹 ⁿ ⊆ℂ ⁿ by small perturbations of elements in Diff(ℂ ⁿ ,0). Under open conditions on the generators, we prove the existence of many pseudo-flows in their closure (for the C ⁰-topology) acting transitively on the ball. Dynamical features as minimality, ergodicity, positive entropy and rigidity may easily be derived from this approach. Finally, some of these pseudo-groups are realized in the transverse dynamics of polynomial vector fields in ℂℙ ⁿ . Received March 7, 2002 / final version received November 26, 2002?Published online February 7, 2003 Most of this work has been carried out during a visit of the first author to IMPA/RJ and a visit of the second author to the University of Lille 1. We would like to thank these institutes for hospitality and express our gratitude to CNPq-Brazil and CNRS-France for the financial support which made these visits possible. We are also indebted to Paulo Sad, Marcel Nicolau and the referee whose comments helped us to improve on the preliminary version. Finally, the second author has partially conducted this research for the Clay Mathematics Institute.     

Research problems

This section appears from time to time. Contributions are invited, and should be submitted to R. C. Thompson, Mathematics Department, University of California, Santa Barbara, CA 93106.     

An optimal design of collateralized mortgage obligation with PAC-companion structure using dynamic cash reserve

This paper presents a model for optimally designing a collateralized mortgage obligation (CMO) with a planned amortization class (PAC)-companion structure using dynamic cash reserve. In this structure, the mortgage pool’s cash flow is allocated by rule to the two bond classes such that PAC bondholders receive substantial prepayment protection, that protection being provided by the companion bondholders. The structure we propose provides greater protection to the PAC bondholders than current structures during periods of rising interest rates when this class of bondholders faces greater extension risk. We do so by allowing a portion of the cash flow from the collateral to be reserved to meet the PAC’s scheduled cash flow in subsequent periods. The greater protection is provided by the companion bondholders exposure to interest loss. To tackle this problem, we transform the problem of designing the optimal PAC-companion structure into a standard stochastic linear programming problem which can be solved efficiently. Moreover, we present an extended model by considering the quality of the companion bond and by relaxing the PAC bondholder shortfall constraint. Based on numerical experiments through Monte Carlo simulation, we show the utility of the proposed model.     

Superstable semigroups of operators

In [NR] the authors introduced the notion of superstable operators on a Banach space E using ultrapowers E_u of E. In [HR] this notion was extended to strongly continuous one-parameter semigroups again by means of ultrapowers.It is the aim of the present paper to give an equivalent intrinsic definition of superstability (without the reference to ultrapowers). This definition allows us to improve the results of [NR] as well as of [HR]. We apply our results to semigroups of positive linear operators on Banach lattices and C^*-algebras, respectively.     

Looking at Fokker-Planck dynamics with a noisy instrument

We consider the class of experiments which can be characterized by a Fokker-PIanck dynamics corresponding to the overdamped motion of a state point in a suitable stochastic potential. We assume that the general form of the potential is known (or can be guessed with reasonable accuracy), but that its parameters are to be determined experimentally by measurements made with a noisy instrument. This possible method for determining the potential parameters, which exploits the system's own internal stochastic motion in order to explore rapidly its available parameter space, is substantially more efficient than traditional methods involving time averages of single point measurements, and yet does not appear to have been previously considered. The method could be important when, for example, the experiment must be completed in a limited time owing either to the expense of the experimental materials or to the temporary stationarity of the preparation, situations which are commonly encountered in experimental biochemistry and biology.