On the role of heterogeneous and imperfect information in a laboratory financial market

In this paper, we analyze the behavior of a group of heterogeneously informed investors in an laboratory asset market. Our experimental setting is inspired by Huber et al. (On the benefit of information in markets with heterogeneously informed traders: an experimental study, 2004). However, instead of their system of cumulative and exogenously given information structure, we introduce an information market where the traders can buy an imperfect prediction of the future value of the dividend with a maximum anticipation of four periods. The accuracy of the prediction decreases with the chosen time horizon, whereas its price remains constant. Our results confirm a non-strictly monotonic increasing value of the information.     

Locality Hypothesis and the Speed of Light

The locality hypothesis is generally considered necessary for the study of the kinematics of non-inertial systems in special relativity. In this paper we discuss this hypothesis, showing the necessity of an improvement, in order to get a more clear understanding of the various concepts involved, like coordinate velocity and standard velocity of light. Concrete examples are shown, where these concepts are discussed.     

Twin Paradox and the Logical Foundation of Relativity Theory

We study the foundation of space-time theory in the framework of first-order logic (FOL). Since the foundation of mathematics has been successfully carried through (via set theory) in FOL, it is not entirely impossible to do the same for space-time theory (or relativity). First we recall a simple and streamlined FOL-axiomatization Specrel of special relativity from the literature. Specrel is complete with respect to questions about inertial motion. Then we ask ourselves whether we can prove the usual relativistic properties of accelerated motion (e.g., clocks in acceleration) in Specrel. As it turns out, this is practically equivalent to asking whether Specrel is strong enough to “handle” (or treat) accelerated observers. We show that there is a mathematical principle called induction (IND) coming from real analysis which needs to be added to Specrel in order to handle situations involving relativistic acceleration. We present an extended version AccRel of Specrel which is strong enough to handle accelerated motion, in particular, accelerated observers. Among others, we show that~the Twin Paradox becomes provable in AccRel, but it is not provable without IND.     

Quintessence and Dark Matter Created by Weyl–Dirac Geometry

A spatially closed universe undergoing at present accelerated expansion, having a non-vanishing cosmological constant, and filled with luminous- and dark matter is described in terms of the Integrable Weyl–Dirac theory. It is shown that, during the dust-dominated period, dark matter and the quintessence pressure, the latter giving rise to acceleration: both are created by the Dirac gauge function. The behavior of two models: a nearly flat one and a well closed are considered in appropriate gauges, and plausible scenarios are obtained. The outcome of the present paper, together with results of a previous work,⁽³¹⁾ provide a geometrically based, classical, singularity-free model of the universe, that has originated from a pure geometric Weyl–Dirac entity, passed a prematter period, the radiation-dominated era, and continues its development in the present dust period.     

Correlation between gravitational-wave detectors and particle detectors during SN1987A

Summary A review of the correlations between gravitational-wave detectors and particle detectors during SN1987A is given. The correlation between the Maryland and Rome g.w. detectors with the Mont Blanc neutrino detector is illustrated. This correlation extends during a period of one or two hours centred at 2∶45 UT of 23 February 1987, with the ?neutrino? signals delayed by (1.1±0.5) s and with a probability of the order of 10⁻⁵ to be accidental. Using the data obtained with the Kamiokande and IMB detectors, with the same statistical choices and procedures for the data analysis used previously, the above result is confirmed with a probability of the order of 10⁻³ or 10⁻⁴ that the additional correlation be accidental. Paper presented at the V Cosmic Physics National Conference, S. Miniato, November 27–30, 1990.     

An adaptive filter for gravitational-wave antennas

Summary We report on the development of an adaptive optimum filter for processing the data of a resonant bar gravitational-wave detector. This filter, based on the matched-filter theory, is adaptive in the sense that the function it realizes is derived from the actual noise spectrum of the data being analysed (instead from an idealized model of the noise). Its implementation is mostly based on frequency domain techniques. We also report on the application of the new filter to the data of the cryogenic antenna Explorer of the Rome group, with particular reference to the comparison between its performance and that of an otpimum filter with fixed values of the parameters.     

Experimental Evaluation of Strain Shielding in Distal Femur in Revision TKA

Theoretical concerns about the use of cemented and press-fit stems in revision total knee arthroplasty (TKA) include stress shielding with adverse effects on prosthesis fixation. Radiological studies have showed distal femoral bone resorption after revision TKA. The revision with use of stems can place abnormal stresses. These stresses can promote the effect of bone stress shielding and may contribute to bone loss. Experimental quantification of strain shielding in the distal synthetic femur following TKA is the main purpose of the present study. Three different constructs of TKA were assessed. The first construct included a stemless femoral component. The other two included a press-fit and a cemented femoral stem. Cortical bone strains were measured experimentally with tri-axial strain gauges in synthetic femurs before and after in-vitro knee surgery. The difference between principal strains of implanted and intact femur was calculated for each strain gauge position. This study indicates that the use of stems in distal femur changes the distribution and magnitude of bone strains. The press-fit stem provoked relevant bone area (stem length) subjected to strain shielding and also originated the highest reduction of strains in the distal region, which can potentially induce bone resorption. The stemless implanted femur produced minor bone strain changes relatively to the intact femur. The use of distal femur stems increases initial stability in the bone, but the observed reduction of strains in this region, relative to the intact femur, provokes strain shielding that can induce bone resorption and may compromise the long term implant stability.     

Effect of Pressure on Fluid Damping in MEMS Torsional Resonators with Flow Ranging from Continuum to Molecular Regime

High quality factor of dynamic structures at micro and nano scale is exploited in various applications of micro electro-mechanical systems (MEMS) and nano electro-mechanical system. The quality factor of such devices can be very high in vacuum. However, when vacuum is not desirable or not possible, the tiny structures must vibrate in air or some other gas at pressure levels that may vary from atmospheric to low vacuum. The interaction of the surrounding fluid with the vibrating structure leads to dissipation, thus bringing down the quality factor. Depending on the ambient fluid pressure or the gap between the vibrating and the fixed structure, the fluid motion can range from continuum flow to molecular flow giving a wide range of dissipation. The relevant fluid flow characteristics are determined by the Knudsen number which is the ratio of the mean free path of the gas molecule to the characteristic flow length of the device. This number is very small for continuum flow and reasonably big for molecular flow. In this paper, we study the effect of fluid pressure on the quality factor by carrying out experiments on a MEMS device that consists of a double gimbaled torsional resonator. Such devices are commonly used in optical cross-connects and switches. We only vary fluid pressure to make the Knudsen number go through the entire range of continuum flow, slip flow, transition flow, and molecular flow. We experimentally determine the quality factor of the torsional resonator at different air pressures ranging from 760 Torr to 0.001 Torr. The variation of this pressure over six orders of magnitude ensures required rarefaction to range over all flow conditions. Finally, we get the variation of quality factor with pressure. The result indicates that the quality factor, Q, follows a power law, Q ∝P ^–r , with different values of the exponent r in different flow regimes. In the second part of the paper, we propose the use of effective viscosity for considering velocity slip conditions in solving Navier–Stokes equation numerically. This concept is validated with analytical results for a simple case and then compared with the experimental results presented in this paper. The study shows that the effective viscosity concept can be used effectively even for the molecular regime if the air-gap to length ratio is sufficiently small (h ₀/L<0.01). As this ratio increases, the range of validity decreases.     

Exact Solution of a Test Particle in Presence of Thick Domain Walls

We have obtained the exact solution of the equations of motion of a test particle near a thick domain walls. From the solution it has been shown that the domain walls have repulsive gravitational fields.     

Analysis of nine rhubarb anthraquinones and bianthrones by micellar electrokinetic chromatography using experimental design

An efficient micellar electrokinetic chromatography (MEKC) method has been developed for the analysis of nine anthraquinones and bianthrones in rhubarb. A chemometric approach was used to search for the optimum conditions of separation. Those factors which were found to be significant with a screening design were further optimized with a central composite face-centered (CCF) design. Acetonitrile concentration was found to be the most influential, not only in resolution, but also in analysis time and peak asymmetry. With the optimized conditions: 15 mM sodium tetraborate/15 mM sodium dihydrogenphosphate buffer, 30 mM sodium deoxycholate, pH 8.6, 17 vol.% acetonitrile and 28 kV, nine tested analytes were baseline-separated within 14 min. The method was validated to analyze the rhubarb material. Solid-phase extraction (SPE) was manipulated to remove interfering substances. Five anthraquinones and two glycosidic bianthrones were detected and quantificated. The method should be suitable for determining these major active principles in rhubarb crude drugs.