Monotone and boolean unitary Brownian motions

The additive monotone (resp. boolean) unitary Brownian motion is a non-commutative stochastic process with monotone (resp. boolean) independent and stationary increments which are distributed according to the arcsine law (resp. Bernoulli law) . We introduce the monotone and booleen unitary Brownian motions and we derive a closed formula for their associated moments. This provides a description of their spectral measures. We prove that, in the monotone case, the multiplicative analog of the arcsine distribution is absolutely continuous with respect to the Haar measure on the unit circle, whereas in the boolean case the multiplicative analog of the Bernoulli distribution is discrete. Finally, we use quantum stochastic calculus to provide a realization of these processes as the stochastic exponential of the correspending additive Brownian motions.Comment: 19 page

Some Ambiguities Concerning the Development of Electronic Money

The aim of this paper is to analyse the economic efficiency of electronic money and to identify different factors hindering its growth. It is argued that electronic money might eventually make paper money obsolete. Nevertheless, prospects for the development of this monetary innovation remain uncertain due to the complexity and ambiguity of electronic money products. In particular, the paper identifies network effects and habit persistence as major factors hindering the adoption and more widespread use of electronic money.e-money, ICT, network externalities, habit persistence.

A Full Balance Sheet Two-modes Optimal Switching problem

We formulate and solve a finite horizon full balance sheet two-modes optimal switching problem related to trade-off strategies between expected profit and cost yields. Given the current mode, this model allows for either a switch to the other mode or termination of the project, and this happens for both sides of the balance sheet. A novelty in this model is that the related obstacles are nonlinear in the underlying yields, whereas, they are linear in the standard optimal switching problem. The optimal switching problem is formulated in terms of a system of Snell envelopes for the profit and cost yields which act as obstacles to each other. We prove existence of a continuous minimal solution of this system using an approximation scheme and fully characterize the optimal switching strategy.Comment: 23 pages. To appear in Stochastic

AMMSE Optimization for Multiuser MISO Systems with Imperfect CSIT and Perfect CSIR

In this paper, we consider the design of robust linear precoders for MU-MISO systems where users have perfect Channel State Information (CSI) while the BS has partial CSI. In particular, the BS has access to imperfect estimates of the channel vectors, in addition to the covariance matrices of the estimation error vectors. A closed-form expression for the Average Minimum Mean Square Error (AMMSE) is obtained using the second order Taylor Expansion. This approximation is used to formulate two fairness-based robust design problems: a maximum AMMSE-constrained problem and a power-constrained problem. We propose an algorithm based on convex optimization techniques to address the first problem, while the second problem is tackled by exploiting the close relationship between the two problems, in addition to their monotonic natures.Comment: IEEE Global Communications Conference (GLOBECOM) 201

A Rate-Splitting Strategy for Max-Min Fair Multigroup Multicasting

We consider the problem of transmit beamforming to multiple cochannel multicast groups. The conventional approach is to beamform a designated data stream to each group, while treating potential inter-group interference as noise at the receivers. In overloaded systems where the number of transmit antennas is insufficient to perform interference nulling, we show that inter-group interference dominates at high SNRs, leading to a saturating max-min fair performance. We propose a rather unconventional approach to cope with this issue based on the concept of Rate-Splitting (RS). In particular, part of the interference is broadcasted to all groups such that it is decoded and canceled before the designated beams are decoded. We show that the RS strategy achieves significant performance gains over the conventional multigroup multicast beamforming strategy.Comment: accepted to the 17th IEEE International workshop on Signal Processing advances in Wireless Communications (SPAWC 2016