Atlas models of equity markets

Atlas-type models are constant-parameter models of uncorrelated stocks for equity markets with a stable capital distribution, in which the growth rates and variances depend on rank. The simplest such model assigns the same, constant variance to all stocks; zero rate of growth to all stocks but the smallest; and positive growth rate to the smallest, the Atlas stock. In this paper we study the basic properties of this class of models, as well as the behavior of various portfolios in their midst. Of particular interest are portfolios that do not contain the Atlas stock.Comment: Published at http://dx.doi.org/10.1214/105051605000000449 in the Annals of Applied Probability (http://www.imstat.org/aap/) by the Institute of Mathematical Statistics (http://www.imstat.org

Atom Chips: Fabrication and Thermal Properties

Neutral atoms can be trapped and manipulated with surface mounted microscopic current carrying and charged structures. We present a lithographic fabrication process for such atom chips based on evaporated metal films. The size limit of this process is below 1$\mu$m. At room temperature, thin wires can carry more than 10$^7$A/cm$^2$ current density and voltages of more than 500V. Extensive test measurements for different substrates and metal thicknesses (up to 5 $\mu$m) are compared to models for the heating characteristics of the microscopic wires. Among the materials tested, we find that Si is the best suited substrate for atom chips

Deterministic quantum teleportation between distant atomic objects

Quantum teleportation is a key ingredient of quantum networks and a building block for quantum computation. Teleportation between distant material objects using light as the quantum information carrier has been a particularly exciting goal. Here we demonstrate a new element of the quantum teleportation landscape, the deterministic continuous variable (cv) teleportation between distant material objects. The objects are macroscopic atomic ensembles at room temperature. Entanglement required for teleportation is distributed by light propagating from one ensemble to the other. Quantum states encoded in a collective spin state of one ensemble are teleported onto another ensemble using this entanglement and homodyne measurements on light. By implementing process tomography, we demonstrate that the experimental fidelity of the quantum teleportation is higher than that achievable by any classical process. Furthermore, we demonstrate the benefits of deterministic teleportation by teleporting a dynamically changing sequence of spin states from one distant object onto another

Characterization of infectious and defective cloned avian hepadnavirus genomes

The infectivity in vivo, replication competence in vitro, and expression of viral genes of several molecularly cloned duck hepatitis B virus (DHBV) genomes were investigated. In addition, replication competence, core protein expression, and secretion of viral proteins were investigated for a grey heron hepatitis B virus genome. Except two, all DHBV isolates tested induced a systemic infection in Pekin ducks when injected as cloned viral DNA into the liver. After transfection of chicken hepatoma cells, both defective DHBV genomes expressed intracellular nucleocapsid and pre-S envelope proteins and secreted DHBs/pre-S particles into the medium. One of the defective DHBV genomes and HHBV produced within the cells replicative intermediates encapsidated in core particles and secreted virions, whereas the other defective DHBV genome did not and was unable to efficiently encapsidate the RNA pregenome. Comparative sequence analysis was performed to identify potential amino acid changes in viral proteins of both defective DHBV genomes. The data obtained demonstrate that most cloned avian hepadnaviruses are infectious or replication competent and suggest defects in envelope, polymerase or encapsidation function, respectively, in two cloned DHBV genomes

Electrical and Structural Properties of \u3ci\u3ep-n\u3c/i\u3e Junctions in cw Laser Annealed Silicon

Depth profiles of the electrical quality of ion implanted and cw laser annealed p-n junctions in silicon are obtained for the first time by secondary ion mass spectroscopy. A comparison with the crystallographic properties of the surface and the junction as observed by Nomarski optical microscopy as well as cross-sectional and plan view transmission electron microscopy is made. Samples containing slip dislocations show better insulation and a lower reverse bias current across the p-n junction as compared to samples with a perfect surface in agreement with current-voltage characteristics. Small dislocation loops located at the junction are found to degrade the junction quality

How many independent bets are there?

The benefits of portfolio diversification is a central tenet implicit to modern financial theory and practice. Linked to diversification is the notion of breadth. Breadth is correctly thought of as the number of in- dependent bets available to an investor. Conventionally applications us- ing breadth frequently assume only the number of separate bets. There may be a large discrepancy between these two interpretations. We uti- lize a simple singular-value decomposition (SVD) and the Keiser-Gutman stopping criterion to select the integer-valued effective dimensionality of the correlation matrix of returns. In an emerging market such as South African we document an estimated breadth that is considerably lower than anticipated. This lack of diversification may be because of market concentration, exposure to the global commodity cycle and local currency volatility. We discuss some practical extensions to a more statistically correct interpretation of market breadth, and its theoretical implications for both global and domestic investors.Comment: Less technical rewrite. 12 Pages, 6 Figures (.eps

Mesoscopic atomic entanglement for precision measurements beyond the standard quantum limit

Squeezing of quantum fluctuations by means of entanglement is a well recognized goal in the field of quantum information science and precision measurements. In particular, squeezing the fluctuations via entanglement between two-level atoms can improve the precision of sensing, clocks, metrology, and spectroscopy. Here, we demonstrate 3.4 dB of metrologically relevant squeezing and entanglement for ~ 10^5 cold cesium atoms via a quantum nondemolition (QND) measurement on the atom clock levels. We show that there is an optimal degree of decoherence induced by the quantum measurement which maximizes the generated entanglement. A two-color QND scheme used in this paper is shown to have a number of advantages for entanglement generation as compared to a single color QND measurement.Comment: 6 pages+suppl, PNAS forma

Cross-Boarder Teaching and Collaboration

Since the publication of Best Practices for Legal Education, the globalization of both legal education and law practice has exploded. Today’s lawyers increasingly serve border-crossing clients or clients who present with transnational legal issues. As law schools expand their international programs, and enroll increasing numbers of non-U.S. law students, law students transcend cultural and legal borders. As a result, they deepen their understanding of—and sharpen their critical perspective on—their own national systems. Similarly, U.S. law teachers are increasingly called to engage in border-crossing teaching and other academic pursuits. Best Practices did not address these issues. The primary aim of this chapter of Building on Best Practices: Transforming Legal Education in a Changing World (Lexis 2015) is to identify best practices for law teachers engaged with non-U.S. or “international” learners who study or train in a U.S.-style learning environment, either in the United States or abroad. This chapter also addresses collaboration of U.S. law teachers with their counterparts abroad in such areas as developing innovative teaching and clinical legal education, training and research. It identifies eight guiding principles that cut across types of international learning and then applies these principles to three specific contexts: 1) teaching international students in U.S. law school settings; 2) integrating international students in U.S.-based clinics; and 3) collaborating in legal education and reform efforts with law teachers abroad.https://digitalcommons.law.uw.edu/faculty-chapters/1001/thumbnail.jp

Two-dimensional array of microtraps with atomic shift register on a chip

Arrays of trapped atoms are the ideal starting point for developing registers comprising large numbers of physical qubits for storing and processing quantum information. One very promising approach involves neutral atom traps produced on microfabricated devices known as atom chips, as almost arbitrary trap configurations can be realised in a robust and compact package. Until now, however, atom chip experiments have focused on small systems incorporating single or only a few individual traps. Here we report experiments on a two-dimensional array of trapped ultracold atom clouds prepared using a simple magnetic-film atom chip. We are able to load atoms into hundreds of tightly confining and optically resolved array sites. We then cool the individual atom clouds in parallel to the critical temperature required for quantum degeneracy. Atoms are shuttled across the chip surface utilising the atom chip as an atomic shift register and local manipulation of atoms is implemented using a focused laser to rapidly empty individual traps.Comment: 6 pages, 4 figure