The implications of first-order risk aversion for asset market risk premiums

financial risk;international financial markets;capital asset pricing;excahnge rate;general equilibrium

Tensor gauge fields in arbitrary representations of GL(D,R): II. Quadratic actions

Quadratic, second-order, non-local actions for tensor gauge fields transforming in arbitrary irreducible representations of the general linear group in D-dimensional Minkowski space are explicitly written in a compact form by making use of Levi-Civita tensors. The field equations derived from these actions ensure the propagation of the correct massless physical degrees of freedom and are shown to be equivalent to non-Lagrangian local field equations proposed previously. Moreover, these actions allow a frame-like reformulation a la MacDowell-Mansouri, without any trace constraint in the tangent indices.Comment: LaTeX, 53 pages, no figure. Accepted for publication in Communications in Mathematical Physics. Local Fierz-Pauli programme achieved by completing the analysis of Labastid

Current Exchanges for Reducible Higher Spin Multiplets and Gauge Fixing

We compute the current exchanges between triplets of higher spin fields which describe reducible representations of the Poincare group. Through this computation we can extract the propagator of the reducible higher spin fields which compose the triplet. We show how to decompose the triplet fields into irreducible HS fields which obey Fronsdal equations, and how to compute the current-current interaction for the cubic couplings which appear in ArXiv:0708.1399 [hep-th] using the decomposition into irreducible modes. We compare this result with the same computation using a gauge fixed (Feynman) version of the triplet Lagrangian which allows us to write very simple HS propagators for the triplet fields.Comment: 26 pages, 1 table; v3 some clarifications and references added, typos corrected. Published versio

Geometric Lagrangians for massive higher-spin fields

Lagrangians for massive, unconstrained, higher-spin bosons and fermions are proposed. The idea is to modify the geometric, gauge invariant Lagrangians describing the corresponding massless theories by the addition of suitable quadratic polynomials. These polynomials provide generalisations of the Fierz-Pauli mass term containing all possible traces of the basic field. No auxiliary fields are needed.Comment: 50 pages, 3 appendices; typos corrected, comments and references added. To appear in Nucl. Phys.

Strong obstruction of the Berends-Burgers-van Dam spin-3 vertex

In the eighties, Berends, Burgers and van Dam (BBvD) found a nonabelian cubic vertex for self-interacting massless fields of spin three in flat spacetime. However, they also found that this deformation is inconsistent at higher order for any multiplet of spin-three fields. For arbitrary symmetric gauge fields, we severely constrain the possible nonabelian deformations of the gauge algebra and, using these results, prove that the BBvD obstruction cannot be cured by any means, even by introducing fields of spin higher (or lower) than three.Comment: 19 pages, no figur

Consistent couplings between spin-2 and spin-3 massless fields

We solve the problem of constructing consistent first-order cross-interactions between spin-2 and spin-3 massless fields in flat spacetime of arbitrary dimension n > 3 and in such a way that the deformed gauge algebra is non-Abelian. No assumptions are made on the number of derivatives involved in the Lagrangian, except that it should be finite. Together with locality, we also impose manifest Poincare invariance, parity invariance and analyticity of the deformations in the coupling constants.Comment: LaTeX file. 29 pages, no figures. Minor corrections. Accepted for publication in JHE

Geometry and dynamics of higher-spin frame fields

We give a systematic account of unconstrained free bosonic higher-spin fields on D-dimensional Minkowski and (Anti-)de Sitter spaces in the frame formalism. The generalized spin connections are determined by solving a chain of torsion-like constraints. Via a generalization of the vielbein postulate these allow to determine higher-spin Christoffel symbols, whose relation to the de Wit--Freedman connections is discussed. We prove that the generalized Einstein equations, despite being of higher-derivative order, give rise to the AdS Fronsdal equations in the compensator formulation. To this end we derive Damour-Deser identities for arbitrary spin on AdS. Finally we discuss the possibility of a geometrical and local action principle, which is manifestly invariant under unconstrained higher-spin symmetries.Comment: 30 pages, uses youngtab.sty, v2: minor changes, references adde

Higher spin interactions with scalar matter on constant curvature spacetimes: conserved current and cubic coupling generating functions

Cubic couplings between a complex scalar field and a tower of symmetric tensor gauge fields of all ranks are investigated on any constant curvature spacetime of dimension d>2. Following Noether's method, the gauge fields interact with the scalar field via minimal coupling to the conserved currents. A symmetric conserved current, bilinear in the scalar field and containing up to r derivatives, is obtained for any rank r from its flat spacetime counterpart in dimension d+1, via a radial dimensional reduction valid precisely for the mass-square domain of unitarity in (anti) de Sitter spacetime of dimension d. The infinite collection of conserved currents and cubic vertices are summarized in a compact form by making use of generating functions and of the Weyl/Wigner quantization on constant curvature spaces.Comment: 35+1 pages, v2: two references added, typos corrected, enlarged discussions in Subsection 5.2 and in Conclusion, to appear in JHE

A Network Inversion Filter combining GNSS and InSAR for tectonic slip modeling

Studies of the earthquake cycle benefit from long-term time-dependent slip modeling, as it can be a powerful means to improve our understanding on the interaction of earthquake cycle processes such as interseismic, coseismic, postseismic, and aseismic slip. Observations from Interferometric Synthetic Aperture Radar (InSAR) allow us to model slip at depth with a higher spatial resolution than when using GNSS alone. While the temporal resolution of InSAR has typically been limited, the recent fleet of SAR satellites including Sentinel-1, COSMO-SkyMED, and RADARSAT-2 permits the use of InSAR for time-dependent slip modeling, at intervals of a few days when combined. With the vast amount of SAR data available, simultaneous data inversion of all epochs becomes challenging. Here, we expanded the original Network Inversion Filter to include InSAR observations of surface displacements in addition to GNSS. In the NIF framework, geodetic observations are limited to those of a given epoch, with a stochastic model describing slip evolution over time. The combination of the Kalman forward filtering and backward smoothing allows all geodetic observations to constrain the complete observation period. Combining GNSS and InSAR allows modeling of time-dependent slip at unprecedented spatial resolution. We validate the approach with a simulation of the 2006 Guerrero slow slip event. We highlight the importance of including InSAR covariance information, and demonstrate that InSAR provides an additional constraint on the spatial extent of the slow slip