Finite field-energy of a point charge in QED

We consider a simple nonlinear (quartic in the fields) gauge-invariant modification of classical electrodynamics, which possesses a regularizing ability sufficient to make the field energy of a point charge finite. The model is exactly solved in the class of static central-symmetric electric fields. Collation with quantum electrodynamics (QED) results in the total field energy about twice the electron mass. The proof of the finiteness of the field energy is extended to include any polynomial selfinteraction, thereby the one that stems from the truncated expansion of the Euler-Heisenberg local Lagrangian in QED in powers of the field strenth

Term Structure Movements Implicit in Option Prices

This paper analyzes how including options in the estimation of a dynamic term structure model impacts the way it captures term structure movements. Two versions of a multi-factor Gaussian model are compared: One adopting only bonds data, and the other adopting a joint dataset of bonds and options. Term structure movements extracted under each version behave distinctly, with slope and curvature presenting higher mean reversion rates when options are adopted. The composition of bond risk premium is also affected, with considerably more weight attributed to the level factor when options are included. The inclusion of options in the estimation of the dynamic model also improves the pricing of out-of-sample options.

Identifying Volatility Risk Premium from Fixed Income Asian Options

We provide approximation formulas for at-the-money asian option prices to extract volatility risk premium from a joint dataset of bonds and option prices. The dynamic model generates stochastic volatility and a time-varying volatility risk premium, which explicitly depends on the average cross section of bond yields and on the time series behavior of option prices. When estimated using a joint dataset of Brazilian local bonds and asian options, the model generates bond risk premium strongly correlated (89%) with a widely accepted emerging markets benchmark index, and a negative volatility risk premium implying that investors might be using options as insurance in this market. Volatility premium explains a significant portion (32.5%) of bond premium, confirming that options are indeed important to identify risk premium in dynamic term structure models.

Restoring observed classical behavior of the carbon nanotube field emission enhancement factor from the electronic structure

Experimental Fowler-Nordheim plots taken from orthodoxly behaving carbon nanotube (CNT) field electron emitters are known to be linear. This shows that, for such emitters, there exists a characteristic field enhancement factor (FEF) that is constant for a range of applied voltages and applied macroscopic fields $F_\text{M}$. A constant FEF of this kind can be evaluated for classical CNT emitter models by finite-element and other methods, but (apparently contrary to experiment) several past quantum-mechanical (QM) CNT calculations find FEF-values that vary with $F_\text{M}$. A common feature of most such calculations is that they focus only on deriving the CNT real-charge distributions. Here we report on calculations that use density functional theory (DFT) to derive real-charge distributions, and then use these to generate the related induced-charge distributions and related fields and FEFs. We have analysed three carbon nanostructures involving CNT-like nanoprotrusions of various lengths, and have also simulated geometrically equivalent classical emitter models, using finite-element methods. We find that when the DFT-generated local induced FEFs (LIFEFs) are used, the resulting values are effectively independent of macroscopic field, and behave in the same qualitative manner as the classical FEF-values. Further, there is fair to good quantitative agreement between a characteristic FEF determined classically and the equivalent characteristic LIFEF generated via DFT approaches. Although many issues of detail remain to be explored, this appears to be a significant step forwards in linking classical and QM theories of CNT electrostatics. It also shows clearly that, for ideal CNTs, the known experimental constancy of the FEF value for a range of macroscopic fields can also be found in appropriately developed QM theory.Comment: A slightly revised version has been published - citation below - under a title different from that originally used. The new title is: "Restoring observed classical behavior of the carbon nanotube field emission enhancement factor from the electronic structure

A liquid crystal analogue of the cosmic string

We consider the propagation of light in a anisotropic medium with a topological line defect in the realm of geometrical optics. It is shown that the effective geometry perceived by light propagating in such medium is that of a spacial section of the cosmic string spacetime.Comment: 3 pages, 2 figures. Modern Physics Letters A, accepted for publicatio