“String” formulation of the dynamics of the forward interest rate curve

We propose a formulation of the term structure of interest rates in which the forward curve is seen as the deformation of a string. We derive the general condition that the partial differential equations governing the motion of such string must obey in order to account for the condition of absence of arbitrage opportunities. This condition takes a form similar to a fluctuation-dissipation theorem, albeit on the same quantity (the forward rate), linking the bias to the covariance of variation fluctuations. We provide the general structure of the models that obey this constraint in the framework of stochastic partial (possibly non-linear) differential equations. We derive the general solution for the pricing and hedging of interest rate derivatives within this framework, albeit for the linear case (we also provide in the appendix a simple and intuitive derivation of the standard European option problem). We also show how the “string” formulation simplifies into a standard N-factor model under a Galerkin approximation. Received: 30 January 1998 / Revised: 12 February 1998 / Accepted: 16 February 1998     

Recent developments in the statistical processing of textual data

Statisticians are accustomed to processing numerical, ordinal or nominal data. In many circumstances, such as socio-economic, epidemiologic sample surveys and documentary data bases, this data is juxtaposed with textual data (for example, responses to open questions in surveys). This article presents a series of language-independent procedures based upon applying multivariate techniques (such as correspondence analysis and clustering) to sets of generalized lexical profiles. The generalized lexical profile of a text is a vector whose components are the frequencies of each word (graphical form) or ‘repeated segment’ (sequence of words appearing with a significant frequency in the text). The processing of such large (and often sparse) vectors and matrices requires special algorithms. The main outputs are the following: (1) printouts of the characteristic words and characteristic responses for each category of respondent (these categories are generally derived from available nominal variables); (2) graphical displays of the proximities between words or segments and categories of respondents; (3) when analysing a combination of several texts: graphical displays of proximities between words or segments and each text, or between words or segments and groupings of texts. The systematic use of ‘repeated segments’ provides a valuable help in interpreting the results from a semantic point of view.     

Theoretical and computational studies of vectorial processes in biomolecular systems

Efficient vectorial processes such as the transduction of bioenergy and signals are characteristics that strikingly distinguish living systems from inanimate materials. Recent developments in biophysical and biochemical techniques have provided new information about the structure, dynamics and interaction of biomolecules involved in vectorial life processes at multiple length and temporal scales. This wealth of data makes it possible to carry out theoretical and computational studied of key mechanistic questions associated with complex life processes at an unprecedented level. Using two “vectorial biomolecular machines”, myosin and cytochrome c oxidase, as examples, we discuss the identification of interesting and biologically relevant questions that require thorough theoretical analysis. Technical challenges and recent progress related to these theoretical investigations are briefly summarized     

Pulsed pump: Thermal effects in solid state lasers under super-Gaussian pulses

Solid state laser (SSL) powers can be realistically scaled when pumped by a real, efficient and multimode pulse. In this work, a fourth-order super-Gaussian pulse was assumed as a pump for SSL’s and a complete analytical expression for the thermal phase shift is given. Moreover, the focal length of thermal lens in paraxial ray approximation regime was studied. The results when applied to a Ti: sapphire crystal show an appreciable correction for abberation compared to a top-hat pulse.     

激光二极管泵浦的高重复频率Nd：YAG激光器

报道两个１．５Ｗ连续激光二极管端面泵浦的声光调ＱＮｄ：ＹＡＧ激光器，输出激光脉冲的最高重复频率为３０ｋＨｚ重复频率１ｋＨｚ时，最窄脉宽为１２ｎｓ，最高峰值功率为１２．１ｋＷ。     

半导体激光泵浦预激光锁模调Q固体激光器研究

报道半导体激光侧面泵浦预激光锁模调Ｑ的Ｎｄ：ＹＡＧ固体板条激光器，预激光锁模调Ｑ的激光脉冲宽度为３６ｐｓ，调Ｑ包纤各心的锁模单脉冲能量超过７μＪ，相应的峰值功率达２００ｋＷ。     

Operator stable laws: Series representations and domains of normal attraction

LetX,X ₁,X ₂,... be i.i.d. random vectors in ^d. The limit laws that can arise by suitable affine normalizations of the partial sums,S _n=X ₁+...+X _n, are calledoperator-stable laws. These laws are a natural extension to ^d of the stable laws on. Thegeneralized domain of attraction of [GDOA()] is comprised of all random vectorsX whose partial sums can be affinely normalized to converge to . If the linear part of the affine transformation is restricted to take the formn ^–B for some exponent operatorB naturally associated to thenX is in thegeneralized domain of normal attraction of [GDONA()]. This paper extends the theory of operator-stable laws and their domains of attraction and normal attraction.     

Free energy of the solvable chiral Potts model

Very recently, it has been shown that there are chiralN-state Potts models in statistical mechanics that satisfy the star-triangle relation. Here it is shown that the relation implies that the free energy (and its derivatives) satisfies certain functional relations. These can be used to obtain the free energy: in particular, we expand about the critical case and find that the exponent is 1–2/N.     

Thermodynamic properties of lithium chloride ammonia complexes for application inahigh-lifthigh temperature chemical heat pump

Ammonia absorption by and desorption from lithium chloride at different pressures has been studied using high-pressure differential scanning calorimetry, for application in a high-lift high temperature chemical heat pump. The measurements were performed under isobaric as well as under isothermal circumstances. Clausius–Clapeyron plots were constructed and used to calculate the thermodynamic parameters and to determine the stability regions of the different complexes. Controversies in literature as to the real existing phases are resolved.