138 research outputs found
Price Variations in a Stock Market With Many Agents
Large variations in stock prices happen with sufficient frequency to raise
doubts about existing models, which all fail to account for non-Gaussian
statistics. We construct simple models of a stock market, and argue that the
large variations may be due to a crowd effect, where agents imitate each
other's behavior. The variations over different time scales can be related to
each other in a systematic way, similar to the Levy stable distribution
proposed by Mandelbrot to describe real market indices. In the simplest, least
realistic case, exact results for the statistics of the variations are derived
by mapping onto a model of diffusing and annihilating particles, which has been
solved by quantum field theory methods. When the agents imitate each other and
respond to recent market volatility, different scaling behavior is obtained. In
this case the statistics of price variations is consistent with empirical
observations. The interplay between ``rational'' traders whose behavior is
derived from fundamental analysis of the stock, including dividends, and
``noise traders'', whose behavior is governed solely by studying the market
dynamics, is investigated. When the relative number of rational traders is
small, ``bubbles'' often occur, where the market price moves outside the range
justified by fundamental market analysis. When the number of rational traders
is larger, the market price is generally locked within the price range they
define.Comment: 39 pages (Latex) + 20 Figures and missing Figure 1 (sorry), submitted
to J. Math. Eco
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INSPIRE: A European training network to foster research and training in cardiovascular safety pharmacology
Safety pharmacology is an essential part of drug development aiming to identify, evaluate and investigate undesirable pharmacodynamic properties of a drug primarily prior to clinical trials. In particular, cardiovascular adverse drug reactions (ADR) have halted many drug development programs. Safety pharmacology has successfully implemented a screening strategy to detect cardiovascular liabilities, but there is room for further refinement. In this setting, we present the INSPIRE project, a European Training Network in safety pharmacology for Early Stage Researchers (ESRs), funded by the European Commission's H2020-MSCA-ITN programme. INSPIRE has recruited 15 ESR fellows that will conduct an individual PhD-research project for a period of 36 months. INSPIRE aims to be complementary to ongoing research initiatives. With this as a goal, an inventory of collaborative research initiatives in safety pharmacology was created and the ESR projects have been designed to be complementary to this roadmap. Overall, INSPIRE aims to improve cardiovascular safety evaluation, either by investigating technological innovations or by adding mechanistic insight in emerging safety concerns, as observed in the field of cardio-oncology. Finally, in addition to its hands-on research pillar, INSPIRE will organize a number of summer schools and workshops that will be open to the wider community as well. In summary, INSPIRE aims to foster both research and training in safety pharmacology and hopes to inspire the future generation of safety scientists
Search for non-relativistic Magnetic Monopoles with IceCube
The IceCube Neutrino Observatory is a large Cherenkov detector instrumenting
of Antarctic ice. The detector can be used to search for
signatures of particle physics beyond the Standard Model. Here, we describe the
search for non-relativistic, magnetic monopoles as remnants of the GUT (Grand
Unified Theory) era shortly after the Big Bang. These monopoles may catalyze
the decay of nucleons via the Rubakov-Callan effect with a cross section
suggested to be in the range of to
. In IceCube, the Cherenkov light from nucleon decays
along the monopole trajectory would produce a characteristic hit pattern. This
paper presents the results of an analysis of first data taken from May 2011
until May 2012 with a dedicated slow-particle trigger for DeepCore, a
subdetector of IceCube. A second analysis provides better sensitivity for the
brightest non-relativistic monopoles using data taken from May 2009 until May
2010. In both analyses no monopole signal was observed. For catalysis cross
sections of the flux of non-relativistic
GUT monopoles is constrained up to a level of at a 90% confidence level,
which is three orders of magnitude below the Parker bound. The limits assume a
dominant decay of the proton into a positron and a neutral pion. These results
improve the current best experimental limits by one to two orders of magnitude,
for a wide range of assumed speeds and catalysis cross sections.Comment: 20 pages, 20 figure
Searches for Extended and Point-like Neutrino Sources with Four Years of IceCube Data
We present results on searches for point-like sources of neutrinos using four
years of IceCube data, including the first year of data from the completed
86-string detector. The total livetime of the combined dataset is 1,373 days.
For an E spectrum the median sensitivity at 90\% C.L. is
TeVcms for energies between 1 TeV1 PeV in the northern
sky and TeVcms for energies between 100
TeV 100 PeV in the southern sky. The sensitivity has improved from both the
additional year of data and the introduction of improved reconstructions
compared to previous publications. In addition, we present the first results
from an all-sky search for extended sources of neutrinos. We update results of
searches for neutrino emission from stacked catalogs of sources, and test five
new catalogs; two of Galactic supernova remnants and three of active galactic
nuclei. In all cases, the data are compatible with the background-only
hypothesis, and upper limits on the flux of muon neutrinos are reported for the
sources considered.Comment: 36 pages, 15 figures. Submitted to the Astrophysical Journa
Observation of High-Energy Astrophysical Neutrinos in Three Years of IceCube Data
A search for high-energy neutrinos interacting within the IceCube detector
between 2010 and 2012 provided the first evidence for a high-energy neutrino
flux of extraterrestrial origin. Results from an analysis using the same
methods with a third year (2012-2013) of data from the complete IceCube
detector are consistent with the previously reported astrophysical flux in the
100 TeV - PeV range at the level of per flavor and reject a
purely atmospheric explanation for the combined 3-year data at .
The data are consistent with expectations for equal fluxes of all three
neutrino flavors and with isotropic arrival directions, suggesting either
numerous or spatially extended sources. The three-year dataset, with a livetime
of 988 days, contains a total of 37 neutrino candidate events with deposited
energies ranging from 30 to 2000 TeV. The 2000 TeV event is the highest-energy
neutrino interaction ever observed.Comment: 8 pages, 5 figures. Accepted by PRL. The event catalog, event
displays, and other data tables are included after the final page of the
article. Changed from the initial submission to reflect referee comments,
expanding the section on atmospheric backgrounds, and fixes offsets of up to
0.9 seconds in reported event times. Address correspondence to: J. Feintzeig,
C. Kopper, N. Whitehor
The IceCube Neutrino Observatory Part VI: Ice Properties, Reconstruction and Future Developments
Papers on ice properties, reconstruction and future developments submitted to
the 33nd International Cosmic Ray Conference (Rio de Janeiro 2013) by the
IceCube Collaboration.Comment: 28 pages, 38 figures; Papers submitted to the 33nd International
Cosmic Ray Conference, Rio de Janeiro 2013; version 2 corrects errors in the
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