Evaluation of solar cell materials for a Solar Power Satellite

Alternative solar cell materials being considered for the solar power satellite are described and price, production, and availability projections through the year 2000 are presented. The chief materials considered are silicon and gallium arsenide

Relativistic phase space: dimensional recurrences

We derive recurrence relations between phase space expressions in different dimensions by confining some of the coordinates to tori or spheres of radius $R$ and taking the limit as $R \to \infty$. These relations take the form of mass integrals, associated with extraneous momenta (relative to the lower dimension), and produce the result in the higher dimension.Comment: 13 pages, Latex, to appear in J Phys

Improved Phase Space Treatment of Massive Multi-Particle Final States

In this paper the revised Kajantie-Byckling approach and improved phase space sampling techniques for the massive multi-particle final states are presented. The application of the developed procedures to the processes representative for LHC physics indicates the possibility of a substantial simplification of multi-particle phase space sampling while retaining a respectable weight variance reduction and unweighing efficiencies in the event generation process.Comment: Minor stilistic changes, submitted to EPJ

Drift dependence of optimal trade execution strategies under transient price impact

We give a complete solution to the problem of minimizing the expected liquidity costs in presence of a general drift when the underlying market impact model has linear transient price impact with exponential resilience. It turns out that this problem is well-posed only if the drift is absolutely continuous. Optimal strategies often do not exist, and when they do, they depend strongly on the derivative of the drift. Our approach uses elements from singular stochastic control, even though the problem is essentially non-Markovian due to the transience of price impact and the lack in Markovian structure of the underlying price process. As a corollary, we give a complete solution to the minimization of a certain cost-risk criterion in our setting

Multiscale Random-Walk Algorithm for Simulating Interfacial Pattern Formation

We present a novel computational method to simulate accurately a wide range of interfacial patterns whose growth is limited by a large scale diffusion field. To illustrate the computational power of this method, we demonstrate that it can be used to simulate three-dimensional dendritic growth in a previously unreachable range of low undercoolings that is of direct experimental relevance.Comment: 4 pages RevTex, 6 eps figures; substantial changes in presentation, but results and conclusions remain the sam

Explicitly symmetrical treatment of three-body phase space

We derive expressions for three-body phase space that are explicitly symmetrical in the masses of the three particles. We study geometrical properties of the variables involved in elliptic integrals and demonstrate that it is convenient to use the Jacobian zeta function to express the results in four and six dimensions.Comment: 20 pages, latex, 2 postscript figure

Calibration of optimal execution of financial transactions in the presence of transient market impact

Trading large volumes of a financial asset in order driven markets requires the use of algorithmic execution dividing the volume in many transactions in order to minimize costs due to market impact. A proper design of an optimal execution strategy strongly depends on a careful modeling of market impact, i.e. how the price reacts to trades. In this paper we consider a recently introduced market impact model (Bouchaud et al., 2004), which has the property of describing both the volume and the temporal dependence of price change due to trading. We show how this model can be used to describe price impact also in aggregated trade time or in real time. We then solve analytically and calibrate with real data the optimal execution problem both for risk neutral and for risk averse investors and we derive an efficient frontier of optimal execution. When we include spread costs the problem must be solved numerically and we show that the introduction of such costs regularizes the solution.Comment: 31 pages, 8 figure

Regularity of higher codimension area minimizing integral currents

This lecture notes are an expanded version of the course given at the ERC-School on Geometric Measure Theory and Real Analysis, held in Pisa, September 30th - October 30th 2013. The lectures aim to explain the main steps of a new proof of the partial regularity of area minimizing integer rectifiable currents in higher codimension, due originally to F. Almgren, which is contained in a series of papers in collaboration with C. De Lellis (University of Zurich).Comment: This text will appear in "Geometric Measure Theory and Real Analysis", pp. 131--192, Proceedings of the ERC school in Pisa (2013), L. Ambrosio Ed., Edizioni SNS (CRM Series

Arbitrage and deflators in illiquid markets

This paper presents a stochastic model for discrete-time trading in financial markets where trading costs are given by convex cost functions and portfolios are constrained by convex sets. The model does not assume the existence of a cash account/numeraire. In addition to classical frictionless markets and markets with transaction costs or bid-ask spreads, our framework covers markets with nonlinear illiquidity effects for large instantaneous trades. In the presence of nonlinearities, the classical notion of arbitrage turns out to have two equally meaningful generalizations, a marginal and a scalable one. We study their relations to state price deflators by analyzing two auxiliary market models describing the local and global behavior of the cost functions and constraints