Elasticity sampling links thermodynamics to metabolic control

Metabolic networks can be turned into kinetic models in a predefined steady state by sampling the reaction elasticities in this state. Elasticities for many reversible rate laws can be computed from the reaction Gibbs free energies, which are determined by the state, and from physically unconstrained saturation values. Starting from a network structure with allosteric regulation and consistent metabolic fluxes and concentrations, one can sample the elasticities, compute the control coefficients, and reconstruct a kinetic model with consistent reversible rate laws. Some of the model variables are manually chosen, fitted to data, or optimised, while the others are computed from them. The resulting model ensemble allows for probabilistic predictions, for instance, about possible dynamic behaviour. By adding more data or tighter constraints, the predictions can be made more precise. Model variants differing in network structure, flux distributions, thermodynamic forces, regulation, or rate laws can be realised by different model ensembles and compared by significance tests. The thermodynamic forces have specific effects on flux control, on the synergisms between enzymes, and on the emergence and propagation of metabolite fluctuations. Large kinetic models could help to simulate global metabolic dynamics and to predict the effects of enzyme inhibition, differential expression, genetic modifications, and their combinations on metabolic fluxes. MATLAB code for elasticity sampling is freely available

Commercial real estate return distributions: a review of literature and empirical evidence

This paper review the literature on the distribution of commercial real estate returns. There is growing evidence that the assumption of normality in returns is not safe. Distributions are found to be peaked, fat-tailed and, tentatively, skewed. There is some evidence of compound distributions and non-linearity. Public traded real estate assets (such as property company or REIT shares) behave in a fashion more similar to other common stocks. However, as in equity markets, it would be unwise to assume normality uncritically. Empirical evidence for UK real estate markets is obtained by applying distribution fitting routines to IPD Monthly Index data for the aggregate index and selected sub-sectors. It is clear that normality is rejected in most cases. It is often argued that observed differences in real estate returns are a measurement issue resulting from appraiser behaviour. However, unsmoothing the series does not assist in modelling returns. A large proportion of returns are close to zero. This would be characteristic of a thinly-traded market where new information arrives infrequently. Analysis of quarterly data suggests that, over longer trading periods, return distributions may conform more closely to those found in other asset markets. These results have implications for the formulation and implementation of a multi-asset portfolio allocation strategy

Self Duality and Quantization

Quantum theory of the free Maxwell field in Minkowski space is constructed using a representation in which the self dual connection is diagonal. Quantum states are now holomorphic functionals of self dual connections and a decomposition of fields into positive and negative frequency parts is unnecessary. The construction requires the introduction of new mathematical techniques involving ``holomorphic distributions''. The method extends also to linear gravitons in Minkowski space. The fact that one can recover the entire Fock space --with particles of both helicities-- from self dual connections alone provides independent support for a non-perturbative, canonical quantization program for full general relativity based on self dual variables.Comment: 14 page

Volatility forecasting

Volatility has been one of the most active and successful areas of research in time series econometrics and economic forecasting in recent decades. This chapter provides a selective survey of the most important theoretical developments and empirical insights to emerge from this burgeoning literature, with a distinct focus on forecasting applications. Volatility is inherently latent, and Section 1 begins with a brief intuitive account of various key volatility concepts. Section 2 then discusses a series of different economic situations in which volatility plays a crucial role, ranging from the use of volatility forecasts in portfolio allocation to density forecasting in risk management. Sections 3, 4 and 5 present a variety of alternative procedures for univariate volatility modeling and forecasting based on the GARCH, stochastic volatility and realized volatility paradigms, respectively. Section 6 extends the discussion to the multivariate problem of forecasting conditional covariances and correlations, and Section 7 discusses volatility forecast evaluation methods in both univariate and multivariate cases. Section 8 concludes briefly. JEL Klassifikation: C10, C53, G1

Symbolic calculus on the time-frequency half-plane

The study concerns a special symbolic calculus of interest for signal analysis. This calculus associates functions on the time-frequency half-plane f>0 with linear operators defined on the positive-frequency signals. Full attention is given to its construction which is entirely based on the study of the affine group in a simple and direct way. The correspondence rule is detailed and the associated Wigner function is given. Formulas expressing the basic operation (star-bracket) of the Lie algebra of symbols, which is isomorphic to that of the operators, are obtained. In addition, it is shown that the resulting calculus is covariant under a three-parameter group which contains the affine group as subgroup. This observation is the starting point of an investigation leading to a whole class of symbolic calculi which can be considered as modifications of the original one.Comment: 25 pages, Latex, minor changes and more references; to be published in the "Journal of Mathematical Physics" (special issue on "Wavelet and Time-Frequency Analysis"

Gauge sector statistics of intersecting D-brane models

In this article, which is based on the first part of my PhD thesis, I review the statistics of the open string sector in T^6/(Z_2xZ_2) orientifold compactifications of the type IIA string. After an introduction to the orientifold setup, I discuss the two different techniques that have been developed to analyse the gauge sector statistics, using either a saddle point approximation or a direct computer based method. The two approaches are explained and compared by means of eight- and six-dimensional toy models. In the four-dimensional case the results are presented in detail. Special emphasis is put on models containing phenomenologically interesting gauge groups and chiral matter, in particular those containing a standard model or SU(5) part.Comment: 51 pages, 29 figures; v2: ref. added, version to appear in Fortsch. Phys; v3: ref. adde

Metastable states in glassy systems

Truly stable metastable states are an artifact of the mean-field approximation or the zero temperature limit. If such appealing concepts in glass theory as configurational entropy are to have a meaning beyond these approximations, one needs to cast them in a form involving states with finite lifetimes. Starting from elementary examples and using results of Gaveau and Schulman, we propose a simple expression for the configurational entropy and revisit the question of taking flat averages over metastable states. The construction is applicable to finite dimensional systems, and we explicitly show that for simple mean-field glass models it recovers, justifies and generalises the known results. The calculation emphasises the appearance of new dynamical order parameters.Comment: 4 fig., 20 pages, revtex; added references and minor change