QN-spaces, wQN-spaces and covering properties

The main results of the paper are as follows: covering characterizations of wQN-spaces, covering characterizations of QN-spaces and a theorem saying that Cp(X) has the Arkhangel'ski?ˇ property (α₁) provided that X is a QN-space. The latter statement solves a problem posed by M. Scheepers [M. Scheepers, Cp(X) and Arhangel'ski?ˇ's αi-spaces, Topology Appl. 89 (1998) 265-275] and for Tychonoff spaces was independently proved by M. Sakai [M. Sakai, The sequence selection properties of Cp(X), Preprint, April 25, 2006]. As the most interesting result we consider the equivalence that a normal topological space X is a wQN-space if and only if X has the property S₁(Γshr,Γ). Moreover we show that X is a QN-space if and only if Cp(X) has the property (α₀), and for perfectly normal spaces, if and only if X has the covering property (β₃).     

Risk management of a bond portfolio using options

In this paper, we elaborate a formula for determining the optimal strike price for a bond put option, used to hedge a position in a bond. This strike price is optimal in the sense that it minimizes, for a given budget, either Value-at-Risk or Tail Value-at-Risk. Formulas are derived for both zero-coupon and coupon bonds, which can also be understood as a portfolio of bonds. These formulas are valid for any short rate model that implies an affine term structure model and in particular that implies a lognormal distribution of future zero-coupon bond prices. As an application, we focus on the Hull-White one-factor model, which is calibrated to a set of cap prices. We illustrate our procedure by hedging a Belgian government bond, and take into account the possibility of divergence between theoretical option prices and real option prices. This paper can be seen as an extension of the work of Ahn and co-workers [Ahn, D., Boudoukh, J., Richardson, M., Whitelaw, R., 1999. Optimal risk management using options. J. Financ. 54, 359-375], who consider the same problem for an investment in a share.     

On the pivot structure for the weighing matrix W(12,11)

In the present article we concentrate our study on the growth problem for the weighing matrix W(12,11) and show that the unique W(12,11) has three pivot structures. An improved algorithm for extending a k × k (0,+,-) matrix to a W(n,n-1), if possible, has been developed to simplify the proof. For the implementation of the algorithm special emphasis is given to the notions of data structures and parallel processing.     

Almost sure estimates for the concentration neighborhood of Sinai’s walk

We consider Sinai’s random walk in random environment. We prove that infinitely often (i.o.) the size of the concentration neighborhood of this random walk is bounded almost surely. We also get that i.o. the maximal distance between two favorite sites is bounded almost surely.     

On dimensional rigidity of bar-and-joint frameworks

Let V={1,2,…,n}. A mapping p:V→R^r, where p¹,…,pⁿ are not contained in a proper hyper-plane is called an r-configuration. Let G=(V,E) be a simple connected graph on n vertices. Then an r-configuration p together with graph G, where adjacent vertices of G are constrained to stay the same distance apart, is called a bar-and-joint framework (or a framework) in R^r, and is denoted by G(p). In this paper we introduce the notion of dimensional rigidity of frameworks, and we study the problem of determining whether or not a given G(p) is dimensionally rigid. A given framework G(p) in R^r is said to be dimensionally rigid iff there does not exist a framework G(q) in R^s for s?r+1, such that ∥qⁱ-q^j∥²=∥pⁱ-p^j∥² for all (i,j)∈E. We present necessary and sufficient conditions for G(p) to be dimensionally rigid, and we formulate the problem of checking the validity of these conditions as a semidefinite programming (SDP) problem. The case where the points p¹,…,pⁿ of the given r-configuration are in general position, is also investigated.     

On the third largest Laplacian eigenvalue of a graph

In this article, a sharp lower bound for the third largest Laplacian eigenvalue of a graph is given in terms of the third largest degree of the graph.     

Coalgebraic representations of distributive lattices with operators

We present a framework for extending Stone's representation theorem for distributive lattices to representation theorems for distributive lattices with operators. We proceed by introducing the definition of algebraic theory of operators over distributive lattices. Each such theory induces a functor on the category of distributive lattices such that its algebras are exactly the distributive lattices with operators in the original theory. We characterize the topological counterpart of these algebras in terms of suitable coalgebras on spectral spaces. We work out some of these coalgebraic representations, including a new representation theorem for distributive lattices with monotone operators.     

Sur les grands quotients partiels du développement en fraction continue

In this paper we obtain some metrics results about large partial quotients in the continued fraction expansion.