Informational inefficiency in financial markets

The existence of an informational inefficiency in the equity market is identified by analysing information publicly available on the internet. A large volume of blog data is used for this purpose. Informational inefficiency is established by converting company-specific blog sentiment data into a trading strategy and analysing its performance. An information-based model that approximately replicates the strategy is developed to estimate the degree of information disparity. The result shows that an efficient internet search engine can considerably enhance market efficiency, as measured in terms of the information flow rate.     

On optimal shape design of systems governed by mixed Dirichlet-Signorini boundary value problems

A problem for finding optimal shape for systems governed by the mixed unilateral boundary value problem of Dirichlet-Signorini-type is considered. Conditions for the solvability of the problem are stated when a variational inequality formulation and when a penalty method is used for solving the state problem in question. The asymptotic relation of design problems based on these two formulations is presented. The optimal shape design problem is discretized by means of finite element method. The convergence results for the approximation are proved. The discretized versions are then formulated as a non-linear programming problem. Results of practical computations of the problem in question are reported.     

Tunable ultraviolet optical parametric oscillator for differential absorption lidar measurements of tropospheric ozone

A pulsed optical parametric oscillator (OPO) with intracavity sum frequency mixing was developed generating energies of up to 16 mJ in the 281–293 nm wavelength range. Both OPO process and sum frequency mixing are pumped by the harmonics of a single, medium-sized Nd:YAG laser. The system is characterized by a high overall efficiency (∼4% conversion from 1064 nm to the UV), a very compact set-up and stable and reliable operation. This system was successfully employed to measure tropospheric ozone using the differential absorption lidar (DIAL) technique and shows much promise as a lidar transmitter in airborne case studies as well as in unattended lidar systems for long-term monitoring. An unattended ozone profiling system could already be successfully realized. Received: 1 April 2002 / Revised version: 30 May 2002 / Published online: 2 September 2002 RID="*" ID="*"Corresponding author. Fax: +49-8153/28-1271, E-mail: Andreas.Fix@dlr.de     

Electron spin resonance study of radicals generated in cellulose/N-methylmorpholine solutions after flash photolysis at 77 K

The processes of radical formation in N-methylmorpholine-N-oxide monohydrate (NMMO) and cellulose/NMMO solutions were studied by ESR at 77 K under high-power UV (lambda = 248 nm) excimer laser flash photolysis. Radicals mainly generated were attributed to the nitroxide type radicals -CH2-NO*-CH2- and -CH2-NO*-CH3 at the first step and methyl *CH3 and formyl *CHO radicals at the second step of the photoreaction. Kinetic studies of these radicals revealed that formation and recombination rates of the radicals depend on the cellulose concentration in cellulose/NMMO solutions and the concentration of additional ingredients, e.g. Fe(II) and propyl gallate. Even at frozen state temperature, acceleration or quenching of radical reaction processes was found. The proposed scheme of UV light-induced NMMO degradation during irradiation based on ESR data correlates well with independently obtained results based on high-performance liquid chromatography (HPLC). The analysis of degradation products by HPLC, e.g. aminoethanol and acetaldehyde, supports the assumption concerning a radical-initiated ring opening of NMMO.     

The effect of solvent additives on morphology and excited-state dynamics in PCPDTBT:PCBM photovoltaic blends

The dependence of the thin film morphology and excited-state dynamics for the low-bandgap donor-acceptor copolymer poly[2,6-(4,4-bis-(2-ethylhexyl)-4H-cyclopenta[2,1-b;3,4-b']-dithiophene)-alt-4,7-(2,1,3-benzothiadiazole)] (PCPDTBT) in pristine films and in blends (1:2) with [6,6]-phenyl-C(61)-butyric acid methyl ester (PCBM) on the use of the solvent additive 1,8-octanedithiol (ODT) is studied by solid-state nuclear magnetic resonance (NMR) spectroscopy and broadband visible and near-infrared pump-probe transient absorption spectroscopy (TAS) covering a spectral range from 500-2000 nm. The latter allows monitoring of the dynamics of excitons, bound interfacial charge-transfer (CT) states, and free charge carriers over a time range from femto- to microseconds. The broadband pump-probe experiments reveal that excitons are not only generated in the polymer but also in PCBM-rich domains. Depending on the morphology controlled by the use of solvent additives, polymer excitons undergo mainly ultrafast dissociation (<100 fs) in blends prepared without ODT or diffusion-limited dissociation in samples prepared with ODT. Excitons generated in PCBM diffuse slowly to the interface in both samples and undergo dissociation on a time scale of several tens of picoseconds up to hundreds of picoseconds. In both samples a significant fraction of the excitons creates strongly bound interfacial CT states, which exhibit subnanosecond geminate recombination. The total internal quantum efficiency loss due to geminate recombination is estimated to be 50% in samples prepared without ODT and is found to be reduced to 30% with ODT, indicating that more free charges are generated in samples prepared with solvent additives. In samples prepared with ODT, the free charges exhibit clear intensity-dependent recombination dynamics, which can be modeled by Langevin-type recombination with a bimolecular recombination coefficient of 6.3 × 10(-11) cm(3) s(-1). In samples prepared without ODT, an additional nanosecond recombination of polaron pairs is observed in conjunction with an increased intensity-independent trap-assisted nongeminate recombination of charges. Furthermore, a comparison of the triplet-induced absorption spectra of PCPDTBT with the charge-induced absorption in PCPDTBT:PCBM blends reveals that triplets have a very similar excited-state absorption spectrum compared to the free charge carriers, however, in contrast have a distinct intensity-independent lifetime. Overall, our results suggest that whether free charges or strongly bound CT states are created upon dissociation of excitons at the PCPDTBT:PCBM interface is determined instantaneously upon exciton dissociation and that once formed strongly bound CT states rapidly recombine and thus are unlikely to dissociate into free charges. The observation of a significantly larger bimolecular recombination coefficient than previously determined for poly(3-hexylthiophen-2,5-diyl):PCBM (P3HT:PCBM) and PCDTBT:PCBM samples indicates that nongeminate recombination of free charges considerably competes with charge extraction in PCPDTBT:PCBM photovoltaic devices.     

Ferroelectricity of induced S*C phases with novel chiral dopants

Abstract

Induced S*_C phases can be obtained by dissolving chiral dopants in achiral S_C host phases. If the chiral guest molecules bear a transverse dipole, ferroelectricity will occur. The novel dopants under discussion are characterized by chiral centres and the transverse dipole situated not in the alkyl end groups of the mesogenic molecules, but directly in their rigid cores. As a rigid core, analogues of decalin were used. In those dopants, rotation around the molecular long axis is sterically restricted. According to the microscopic model of Zeks, this leads to enhanced values of the spontaneous polarization P _s. The magnitude as well as the sign of the spontaneous polarization P _s of the S*_C phases induced by the novel dopants in different host phases has been investigated. It has been found for the first time that for a given dopant, the polarization as well as the sign of P _s depends on the structure of the host phase. The results are discussed in terms of two microscopic models. They can be understood taking into account the situation that the potential of the restricted long axial rotation is determined by the hard core interactions of the molecules involved or that an orientation of the host dipoles by a guest/host interaction takes place.     

Die Glykoside der Wurzeln von Xysmalobium dilatatum WEIMARCK. 1. Mitteilung: Isolierungen. Glykoside und Aglykone, 327. Mitteilung

The roots of Xysmalobium dilatatum Weimarck contain uzarin and xysmalorin as major glycosides. The same two compounds are also present as main components in the glycoside mixture from the roots of Xysmalobium undulatum. In addition to that, X. dilatatum also contains appreciable amounts of pregnane derivatives, linked to 2-deoxy-sugars. Four such xanthydrolpositive compounds (the dilatoides A, B, C and D) have been isolated in amorphous but pure or nearly pure form; they have not been detected in the roots of X. undulatum.     

Special requirements for calculation methods for soil decontamination processes

Soil decontamination is one of the major problems of industrialized nations. Various soil purification processes together with their characteristic attributes are discussed. Some transport and equilibrium phenomena of the contaminant/soil system are covered and some research needs are outlined which will facilitate better process design and significantly reduce clean-up costs.