Winning in the long run: a quantified approach to the drivers of sustainable financial value on real estate: Working Paper 2

This working paper describes the first empirical study measuring the impact of sustainability characteristics on the financial performance of European office and retail properties. The authors present the project, the issue and the approach of their ongoing search for a �Green Alpha�. In a joint effort, university experts at Danube University Krems are in cooperation with Kingston University London tackling a robust analysis on hard data from real properties of institutional investment portfolios in the United Kingdom, France, the Netherlands, Germany, Switzerland and Austria. Their first results are expected by the end of 2010

Surface water floods in Switzerland: what insurance claim records tell us about the damage in space and time

Surface water floods (SWFs) have received increasing attention in the recent years. Nevertheless, we still know relatively little about where, when and why such floods occur and cause damage, largely due to a lack of data but to some degree also because of terminological ambiguities. Therefore, in a preparatory step, we summarize related terms and identify the need for unequivocal terminology across disciplines and international boundaries in order to bring the science together. Thereafter, we introduce a large (n = 63 117), long (10–33 years) and representative (48 % of all Swiss buildings covered) data set of spatially explicit Swiss insurance flood claims. Based on registered flood damage to buildings, the main aims of this study are twofold: First, we introduce a method to differentiate damage caused by SWFs and fluvial floods based on the geographical location of each damaged object in relation to flood hazard maps and the hydrological network. Second, we analyze the data with respect to their spatial and temporal distributions aimed at quantitatively answering the fundamental questions of how relevant SWF damage really is, as well as where and when it occurs in space and time. This study reveals that SWFs are responsible for at least 45 % of the flood damage to buildings and 23 % of the associated direct tangible losses, whereas lower losses per claim are responsible for the lower loss share. The Swiss lowlands are affected more heavily by SWFs than the alpine regions. At the same time, the results show that the damage claims and associated losses are not evenly distributed within each region either. Damage caused by SWFs occurs by far most frequently in summer in almost all regions. The normalized SWF damage of all regions shows no significant upward trend between 1993 and 2013. We conclude that SWFs are in fact a highly relevant process in Switzerland that should receive similar attention like fluvial flood hazards. Moreover, as SWF damage almost always coincides with fluvial flood damage, we suggest considering SWFs, like fluvial floods, as integrated processes of our catchments

Permissive Controller Synthesis for Probabilistic Systems

We propose novel controller synthesis techniques for probabilistic systems modelled using stochastic two-player games: one player acts as a controller, the second represents its environment, and probability is used to capture uncertainty arising due to, for example, unreliable sensors or faulty system components. Our aim is to generate robust controllers that are resilient to unexpected system changes at runtime, and flexible enough to be adapted if additional constraints need to be imposed. We develop a permissive controller synthesis framework, which generates multi-strategies for the controller, offering a choice of control actions to take at each time step. We formalise the notion of permissivity using penalties, which are incurred each time a possible control action is disallowed by a multi-strategy. Permissive controller synthesis aims to generate a multi-strategy that minimises these penalties, whilst guaranteeing the satisfaction of a specified system property. We establish several key results about the optimality of multi-strategies and the complexity of synthesising them. Then, we develop methods to perform permissive controller synthesis using mixed integer linear programming and illustrate their effectiveness on a selection of case studies

Measurement of CP asymmetry in Bs0→Ds∓K±B^0_s \rightarrow D^{\mp}_s K^{\pm} decays

We report on measurements of the time-dependent CP violating observables in $B^0_s\rightarrow D^{\mp}_s K^{\pm}$ decays using a dataset corresponding to 1.0 fb$^{-1}$ of pp collisions recorded with the LHCb detector. We find the CP violating observables $C_f=0.53\pm0.25\pm0.04$, $A^{\Delta\Gamma}_f=0.37\pm0.42\pm0.20$, $A^{\Delta\Gamma}_{\bar{f}}=0.20\pm0.41\pm0.20$, $S_f=-1.09\pm0.33\pm0.08$, $S_{\bar{f}}=-0.36\pm0.34\pm0.08$, where the uncertainties are statistical and systematic, respectively. Using these observables together with a recent measurement of the $B^0_s$ mixing phase $-2\beta_s$ leads to the first extraction of the CKM angle $\gamma$ from $B^0_s \rightarrow D^{\mp}_s K^{\pm}$ decays, finding $\gamma$ = (115$_{-43}^{+28}$)$^\circ$ modulo 180$^\circ$ at 68% CL, where the error contains both statistical and systematic uncertainties

Evidence for exotic hadron contributions to Λb0→J/ψpπ−\Lambda_b^0 \to J/\psi p \pi^- decays

A full amplitude analysis of $\Lambda_b^0 \to J/\psi p \pi^-$ decays is performed with a data sample acquired with the LHCb detector from 7 and 8 TeV $pp$ collisions, corresponding to an integrated luminosity of 3 fb$^{-1}$. A significantly better description of the data is achieved when, in addition to the previously observed nucleon excitations $N\to p\pi^-$, either the $P_c(4380)^+$ and $P_c(4450)^+\to J/\psi p$ states, previously observed in $\Lambda_b^0 \to J/\psi p K^-$ decays, or the $Z_c(4200)^-\to J/\psi \pi^-$ state, previously reported in $B^0 \to J/\psi K^+ \pi^-$ decays, or all three, are included in the amplitude models. The data support a model containing all three exotic states, with a significance of more than three standard deviations. Within uncertainties, the data are consistent with the $P_c(4380)^+$ and $P_c(4450)^+$ production rates expected from their previous observation taking account of Cabibbo suppression

Study of B0(s)→K0Sh+h′− decays with first observation of B0s→K0SK±π∓ and B0s→K0Sπ+π−

A search for charmless three-body decays of B 0 and B0s mesons with a K0S meson in the final state is performed using the pp collision data, corresponding to an integrated luminosity of 1.0 fb−1, collected at a centre-of-mass energy of 7 TeV recorded by the LHCb experiment. Branching fractions of the B0(s)→K0Sh+h′− decay modes (h (′) = π, K), relative to the well measured B0→K0Sπ+π− decay, are obtained. First observation of the decay modes B0s→K0SK±π∓ and B0s→K0Sπ+π− and confirmation of the decay B0→K0SK±π∓ are reported. The following relative branching fraction measurements or limits are obtained B(B0→K0SK±π∓)B(B0→K0Sπ+π−)=0.128±0.017(stat.)±0.009(syst.), B(B0→K0SK+K−)B(B0→K0Sπ+π−)=0.385±0.031(stat.)±0.023(syst.), B(B0s→K0Sπ+π−)B(B0→K0Sπ+π−)=0.29±0.06(stat.)±0.03(syst.)±0.02(fs/fd), B(B0s→K0SK±π∓)B(B0→K0Sπ+π−)=1.48±0.12(stat.)±0.08(syst.)±0.12(fs/fd)B(B0s→K0SK+K−)B(B0→K0Sπ+π−)∈[0.004;0.068]at90%CL

Search for CP violation in the decay D+→π−π+π+

A search for CP violation in the phase space of the decay D+→π−π+π+D+→π−π+π+ is reported using pp collision data, corresponding to an integrated luminosity of 1.0 fb−1, collected by the LHCb experiment at a centre-of-mass energy of 7 TeV. The Dalitz plot distributions for 3.1×1063.1×106D+D+ and D−D− candidates are compared with binned and unbinned model-independent techniques. No evidence for CP violation is found

Measurement of the forward energy flow in pp collisions at s√=7 TeV

The energy flow created in pp collisions at TeX is studied within the pseudorapidity range 1.9<η<4.9 with data collected by the LHCb experiment. The measurements are performed for inclusive minimum-bias interactions, hard scattering processes and events with an enhanced or suppressed diffractive contribution. The results are compared to predictions given by Pythia-based and cosmic-ray event generators, which provide different models of soft hadronic interactions

Measurement of the Bˉs0→Ds−Ds+\bar{B}_s^0\to D_s^-D_s^+ and Bˉs0→D−Ds+\bar{B}_s^0\to D^-D_s^+ effective lifetimes

The first measurement of the effective lifetime of the $\bar{B}_s^0$ meson in the decay $\bar{B}_s^0\to D_s^-D_s^+$ is reported using a proton-proton collision dataset, corresponding to an integrated luminosity of 3 fb$^{-1}$, collected by the LHCb experiment. The measured value of the $\bar{B}_s^0\to D_s^-D_s^+$ effective lifetime is $1.379\pm0.026\pm0.017$ ps, where the uncertainties are statistical and systematic, respectively. This lifetime translates into a measurement of the decay width of the light $\bar{B}_s^0$ mass eigenstate of \Gamma_L$=0.725\pm0.014\pm0.009$ ps$^{-1}$. The $\bar{B}_s^0$ lifetime is also measured using the flavor-specific $\bar{B}_s^0\to D^-D_s^+$ decay to be $1.52\pm0.15\pm0.01 {\rm ps}$

Differential branching fraction and angular analysis of the decay B0→K∗0μ+μ−

The angular distribution and differential branching fraction of the decay B 0→ K ∗0 μ + μ − are studied using a data sample, collected by the LHCb experiment in pp collisions at s√=7 TeV, corresponding to an integrated luminosity of 1.0 fb−1. Several angular observables are measured in bins of the dimuon invariant mass squared, q 2. A first measurement of the zero-crossing point of the forward-backward asymmetry of the dimuon system is also presented. The zero-crossing point is measured to be q20=4.9±0.9GeV2/c4 , where the uncertainty is the sum of statistical and systematic uncertainties. The results are consistent with the Standard Model predictions