Optimal investment with inside information and parameter uncertainty

An optimal investment problem is solved for an insider who has access to noisy information related to a future stock price, but who does not know the stock price drift. The drift is filtered from a combination of price observations and the privileged information, fusing a partial information scenario with enlargement of filtration techniques. We apply a variant of the Kalman–Bucy filter to infer a signal, given a combination of an observation process and some additional information. This converts the combined partial and inside information model to a full information model, and the associated investment problem for HARA utility is explicitly solved via duality methods. We consider the cases in which the agent has information on the terminal value of the Brownian motion driving the stock, and on the terminal stock price itself. Comparisons are drawn with the classical partial information case without insider knowledge. The parameter uncertainty results in stock price inside information being more valuable than Brownian information, and perfect knowledge of the future stock price leads to infinite additional utility. This is in contrast to the conventional case in which the stock drift is assumed known, in which perfect information of any kind leads to unbounded additional utility, since stock price information is then indistinguishable from Brownian information.     

Surface tension of liquid marbles

Effective surface tension of liquid marbles was measured by three independent experimental techniques: vibration, shape analysis, and maximal marble height. Marbles obtained with various powders: polyvinylidene fluoride, polytetrafluoroethylene, polyethylene, and lycopodium, were studied. The effective surface tension depends strongly on the kind of powder coating the marble. The capillary interaction between particles coating the marble was involved for qualitative interpretation of the reported data.     

Hydrazones Possessing a Phenyl-1,2,3,4-tetrahydroquinoline Moiety as Hole Transporting Materials

Summary.  Hydrazones containing 1-phenyl-1,2,3,4-tetrahydroquinoline units were synthesized starting from diphenylamine. These compounds were found to constitute novel hole transporting materials and were characterized by the time of flight method. The hole drift mobility in these compounds exceeds 10⁻⁶ cm² V⁻¹ s⁻¹ at an electric field of 10⁶ V cm⁻¹.     

Synthesis of 2-phosphonylated imidazo[1,2-a]pyridines under catalyst-free conditions

A series of novel 2-phosphonylated imidazo[1,2-a]pyridines was accessed from CN coupling of chloroethynylphosphonates and commercially available N-unsubstituted 2-aminopyridines. The product yield depends on the nature and position of the substituent in the pyridine ring.     

Venom-Derived Neurotoxins Targeting Nicotinic Acetylcholine Receptors

Acetylcholine was the first neurotransmitter described. The receptors targeted by acetylcholine are found within organisms spanning different phyla and position themselves as very attractive targets for predation, as well as for defense. Venoms of snakes within the Elapidae family, as well as those of marine snails within the Conus genus, are particularly rich in proteins and peptides that target nicotinic acetylcholine receptors (nAChRs). Such compounds are invaluable tools for research seeking to understand the structure and function of the cholinergic system. Proteins and peptides of venomous origin targeting nAChR demonstrate high affinity and good selectivity. This review aims at providing an overview of the toxins targeting nAChRs found within venoms of different animals, as well as their activities and the structural determinants important for receptor binding.     

Reliability Importance Measures of the Components in a System Based on Semivalues and Probabilistic Values

The main contribution of this paper consists in providing different ways to value importance measures for components in a given reliability system or in an electronic circuit. The main tool used is a certain type of semivalues and probabilistic values. One of the results given here extends the indices given by Birnbaum [3] and Barlow and Proschan [2], which respectively coincide with the Banzhaf [1] and the Shapley and Shubik [15] indices so well-known in game theory.     

Error growth in the numerical integration of periodic orbits by multistep methods, with application to reversible systems

We study the growth with time of (the coefficients of the asymptoticexpansion of) the error in the numerical integration with linearmultistep methods of periodic solutions of systems of ordinarydifferential equations. Particular attention is devoted to reversiblesystems. It turns out that symmetric linear multistep methodscannot be recommended in spite of the fact that they mimic thereversibility of the true flow. For reversible second-ordersystems, linear multistep methods without parasitic double rootsare useful.     

Measuring the top quark mass in the eµ channel: A study

We describe a simple method to measure the top quark mass in the channel that may be useful in Run II of D? detector. The method is validated by applying it to the Run Ib eμ data.     

Level structures of 95,97Mo — A comparative study

High-spin states of ^95,97Mo (Z=42, N=53,55) nuclei have been investigated through ⁸²Se(¹⁸O, xn) reaction at Eb=60 MeV. The level scheme in ⁹⁵Mo has been observed upto ≏ 10 MeV in the present experiment. The level structure shows mainly single particle character. In ⁹⁷Mo, the ground state level sequence has been extended to ≏ 4.5 MeV while the previous information had been up to 2.4 MeV. A negative parity band built on 1437 keV (11/2⁻) excited state has been extended to 5.5 MeV. The structure seems to show a coexistence of single particle and collective modes of excitation. Properties of both the nuclei have been compared with shell model calculations using OXBASH.