A Common Market Measure for Libor and Pricing Caps, Floors and Swaps in a Field Theory of Forward Interest Rates

The main result of this paper that a martingale evolution can be chosen for Libor such that all the Libor interest rates have a common market measure; the drift is fixed such that each Libor has the martingale property. Libor is described using a field theory model, and a common measure is seen to be emerge naturally for such models. To elaborate how the martingale for the Libor belongs to the general class of numeraire for the forward interest rates, two other numeraire's are considered, namely the money market measure that makes the evolution of the zero coupon bonds a martingale, and the forward measure for which the forward bond price is a martingale. The price of an interest rate cap is computed for all three numeraires, and is shown to be numeraire invariant. Put-call parity is discussed in some detail and shown to emerge due to some non-trivial properties of the numeraires. Some properties of swaps, and their relation to caps and floors, are briefly discussed.Comment: 28 pages, 4 figure

Comparison of Field Theory Models of Interest Rates with Market Data

We calibrate and test various variants of field theory models of the interest rate with data from eurodollars futures. A model based on a simple psychological factor are seen to provide the best fit to the market. We make a model independent determination of the volatility function of the forward rates from market data.Comment: 9 figure

Intensive shrimp Penaeus semisulcatus Dee Haan, culture in the Arabian Gulf during the summer

P. semisulcatus juveniles (average weight 9.7g) from Manifa Lagoon on the Arabian Gulf were randomly stocked in tanks (0.8m3) at three stocking density levels (25, 50 and 75 shrimp/m3) in four replicates. The tanks were put together in a flow-through system and were covered with plastic nets. Water flow rates were 1, 2, and 3 litres/min for densities 25, 50 and 75 shrimp/m3, respectively, Filtered aerated seawater (30± 3 °C) was utilized. Fresh water was mixed with the seawater to keep water salinity down to 39%o. The whole system was shaded to reduce water temperature from the direct sun light. Shrimps were fed during the night for six weeks experimental period. No mortality occurred throughout the experimental period. Growth rates were similar in the three stocking densities, under the experimental conditions. Future studies are needed to determine the maximum sustainable stocking densities

Production of indole acetic acid (bioauxin) from Azotobacter sp. isolate and its effect on callus induction of Dieffenbachia maculata cv. Marianne

lndole-3-acetic acid (IAA) in the supernatant of a culture from the strains, Rhizobium leguminosarum biovar viciae, Bradyrhizobium japonicum, Pseudomonas sp. and Azotobacter sp was detected. Azotobacter sp yielded the highest concentrations of IAA. It was shown that the indole-3-acetic acid (IAA) was induced by the presence of tryptophan, which is used as inducer because the plánt provide the bacteria with tryptophan under natural condi-tions. The highest concentration of IAA was produced by Azotobacter sp.(A1) at the end of the logarithmic phase (after 3days). The results obtained in this work provide useful information about the production behavior of IAA under the optimál conditions(temperature 30°C and pH 7) which is of importance fór the application in production Dieffenbachia maculat cv. Marianne plants by using tissue culture technique. This work was alsó conducted to study the effect of somé growth regulators such as 10 mg/l IAA (synthetic), 5 mg/l BA and 10 mg/l IAA (bioauxin) on callus formation of Dieffenbachia maculat cv. Marianne shoot tips and internodal segments were taken from sterilized shoot and cultured on MS médium supplemented with 6 different treatments from growth regulators. Explants cultured on MS médium supplemented with either 10 mg/l IAA +5 mg/l BA or 10 mg/l bioauxin + 5 mg/l BA had the highest callus percentage 97.22 and 93.94%, respectively. MS médium supplemented with 2 mg/l BA + 0.06 mg/l BA was used for callus differentiation

Quantum Field Theory of Forward Rates with Stochastic Volatility

In a recent formulation of a quantum field theory of forward rates, the volatility of the forward rates was taken to be deterministic. The field theory of the forward rates is generalized to the case of stochastic volatility. Two cases are analyzed, firstly when volatility is taken to be a function of the forward rates, and secondly when volatility is taken to be an independent quantum field. Since volatiltiy is a positive valued quantum field, the full theory turns out to be an interacting nonlinear quantum field theory in two dimensions. The state space and Hamiltonian for the interacting theory are obtained, and shown to have a nontrivial structure due to the manifold moving with a constant velocity. The no arbitrage condition is reformulated in terms of the Hamiltonian of the system, and then exactly solved for the nonlinear interacting case.Comment: 7 Figure

(Supersymmetric) Kac-Moody Gauge Fields in 3+1 Dimensions

Lagrangians for gauge fields and matter fields can be constructed from the infinite dimensional Kac-Moody algebra and group. A continuum regularization is used to obtain such generic lagrangians, which contain new nonlinear and asymmetric interactions not present in gauge theories based on compact Lie groups. This technique is applied to deriving the Yang-Mills and Chern-Simons lagrangians for the Kac-Moody case. The extension of this method to D=4, N=(1/2,0) supersymmetric Kac-Moody gauge fields is also made.Comment: 21 pages, no figures, latex. Minor change

Soil Salinity Assessing and Mapping Using Several Statistical and Distribution Techniques in Arid and Semi-Arid Ecosystems, Egypt

Oasis lands in Egypt are commonly described as salty soils; therefore, waterlogging and higher soil salinity are major obstacles to sustainable agricultural development. This study aims to map and assess soil salinization at El-Farafra Oasis in the Egypt Western Desert based on salinity indices, Imaging Spectroscopy (IS), and statistical techniques. The regression model was developed to test the relationship between the electrical conductivity (ECe) of 70 surface soil samples and seven salinity indices (SI 1, SI 2, SI 5, SI 6, SI 7, SI 8, and SI 9) to produce soil salinity maps depending on Landsat-8 (OLI) images. The investigations of soil salinization and salinity indices were validated in a studied area based on 30 soil samples; the obtained results represented that all salinity indices have shown satisfactory correlations between ECe values for each soil sample site and salinity indices, except for the SI 5 index that present non-significant correlations with R2 value of 0.2688. The SI 8 index shows a higher negative significant correlation with ECe and an R2 value of 0.6356. There is a significant positive correlation at the (p < 0.01) level between SI 9 and ECe (r = 0.514), a non-significant correlation at the (p < 0.05) level between soil ECe and SI 1 index (r = 0.495), and the best-verified salinity index was for SI 7 that has a low estimated RMSE error of 8.58. Finally, the highest standard error (R2) was represented as ECe (dS m−1) with an R2 of 0.881, and the lowest one was SI 9 with an R2 of 0.428, according to Tukey’s test analysis. Therefore, observing and investigating soil salinity are essential requirements for appropriate natural resource management plans in the future

A REACTION OF HEART RATE VARIABILITY SPECTRAL PARAMETERS IN THE PHARMACOLOGICAL TEST WITH MEBICAR IN HEALTHY VOLUNTEERS

On 13 conditionally healthy volunteers aged from 18 to 46 years (mean age – 22±7,6 years) the variability of the total power (TP, ms2) of the spectrum, very low frequency (VLF, ms2), low frequency (LF, ms2) and high frequency (HF, ms2) domains of heart rate variability (HRV) in 5 minute intervals of ECG in I standard lead before and 30 minutes after oral admission of 500 mg of mebicar were evaluated. The data were processed by methods of nonparametric statistics. No significant changes in TP, VLF, LF, HF HRV after 30 minutes (maximum time declared by pharmacodynamics action) after administration of 500 mg of mebicar were noted by us. Accordingly, the effectiveness of mebicar as an adaptogen without evidence-based research cannot be postulated

MANAGEMENT OF PATIENTS WITH ACUTE LYMPHOBLASTIC LEUKEMIA

The lecture presents modern data on acute lymphoblastic leukemia as the one of the most common malignant disease of children, youth and the elderly. The data on the major risk factors, causes, pathogenesis, clinical manifestations, as well as the main approaches to the diagnosis and treatment of this disease and possible predictions for patients in different clinical situations are described

A CLINICAL CASE OF CROHN’S DISEASE

The article demonstrates a clinical case of Crohn’s disease. The clinical manifestation of the disease, a diagnostic approach based on laboratory and instrumental methods with discussion of obtained results, and the up-to-date methods of investigation based on the literature data are shown. The significance of lifestyle modification, optimal drug treatment and regular check-ups for improvement of prognosis is emphasized