Pricing Discretely Monitored Barrier Options by a Markov Chain

We propose a Markov chain method for pricing discretely monitored barrier options in both the constant and time-varying volatility valuation frameworks. The method uses a time homogeneous Markov Chain to approximate the underlying asset price process. Our approach provides a natural framework for pricing discretely monitored barrier options because the discrete time step of the Markov chain can be easily matched with the monitoring frequency of the barrier. Furthermore the underlying asset price can also be partitioned to have the barrier suitably placed. Our method is fast, flexible and easy to implement as it reduces the pricing of American and European barrier options to simple matrix operations. Our method can efficiently handle the difficult cases where the barrier is close to the initial asset price. We study both knock-in and knock-out barrier options. Different types of barriers such as single, double and moving barriers are also analyzed. Cette étude propose l'utilisation de chaînes de Markov pour l'évaluation de prix d'options à barrière avec vérification à temps discrets dans des contextes de volatilité constante ou variable. La méthode utilise une chaîne de Markov homogène afin d'approcher le processus stochastique postulé pour l'actif sous-jacent. Cette méthode procure un environnement naturel pour évaluer ce type d'option puisque le pas discret de la chaîne de Markov peut être adapté à la longueur de temps entre les vérifications de la barrière. Le prix du sous-jacent peut aussi être discrétisé de façon optimale par rapport à la barrière. La méthode est rapide, flexible et simple à implanter puisque le calcul de prix d'options européennes et américaines est réalisé à l'aide de multiplications matricielles. De plus, la méthode proposée est précise pour les cas difficiles où la barrière est située près de la valeur du sous-jacent. Les options knock-in et knock-out sont examinées. Différents types de barrières telles les barrières doubles ainsi que les barrières mobiles sont aussi examinés.Barrier options, Markov chain, sparse matrix, American options, knock-in options, knock-out options, Options à barrière, chaînes de Markov, matrices creuses, options américaines, options knock-in, options knock-out

Model-driven analysis of experimentally determined growth phenotypes for 465 yeast gene deletion mutants under 16 different conditions

An iterative approach that integrates high-throughput measurements of yeast deletion mutants and flux balance model predictions improves understanding of both experimental and computational results

Hidden low-temperature magnetic order revealed through magnetotransport in monolayer CrSBr

Magnetic semiconductors are a powerful platform for understanding, utilizing and tuning the interplay between magnetic order and electronic transport. Compared to bulk crystals, two-dimensional magnetic semiconductors have greater tunability, as illustrated by the gate modulation of magnetism in exfoliated CrI$_3$ and Cr$_2$Ge$_2$Te$_6$, but their electrically insulating properties limit their utility in devices. Here we report the simultaneous electrostatic and magnetic control of electronic transport in atomically-thin CrSBr, an A-type antiferromagnetic semiconductor. Through magnetotransport measurements, we find that spin-flip scattering from the interlayer antiferromagnetic configuration of multilayer flakes results in giant negative magnetoresistance. Conversely, magnetoresistance of the ferromagnetic monolayer CrSBr vanishes below the Curie temperature. A second transition ascribed to the ferromagnetic ordering of magnetic defects manifests in a large positive magnetoresistance in the monolayer and a sudden increase of the bulk magnetic susceptibility. We demonstrate this magnetoresistance is tunable with an electrostatic gate, revealing that the ferromagnetic coupling of defects is carrier mediated

Reality Hackers: The Next Wave of Media Revolutionaries

Just as the printing press gave rise to the nation-state, emerging technologies are reshaping collective identities and challenging our understanding of what it means to be human. Should citizens have the right to be truly anonymous on-line? Should we be concerned about the fact that so many people are choosing to migrate to virtual worlds? Are injectible microscopic radio-frequency ID chips a blessing or a curse? Is the use of cognitive enhancing nootropics a human right or an unforgivable transgression? Should genomic data about human beings be hidden away with commercial patents or open-sourced like software? Should hobbyists known as biohackers be allowed to experiment with genetic engineering in their home laboratories? The time-frame for acting on such questions is relatively short, and these decisions are too important to be left up to a small handful of scientists and policymakers. If democracy is to continue as a viable alternative to technocracy, the average citizen must become more involved in these debates. To borrow a line from the computer visionary Ted Nelson, all of us can -- and must -- understand technology now. Challenging the popular stereotype of hackers as ciminal sociopaths, reality hackers uphold the basic tenets of what Steven Levy (1984) terms the hacker ethic. These core principles include a commitment to: sharing, openness, decentralization, public access to information, and the use of new technologies to make the world a better place.https://digitalcommons.trinity.edu/mono/1000/thumbnail.jp

Subchronic toxicity, immunoregulation and anti-breast tumor effect of Nordamnacantal, an anthraquinone extracted from the stems of Morinda citrifolia L.

Background: Morinda citrifolia L. that was reported with immunomodulating and cytotoxic effects has been traditionally used to treat multiple illnesses including cancer. An anthraquinone derived from fruits of Morinda citrifolia L., nordamnacanthal, is a promising agent possessing several in vitro biological activities. However, the in vivo anti-tumor effects and the safety profile of nordamnacanthal are yet to be evaluated. Methods: In vitro cytotoxicity of nordamnacanthal was tested using MTT, cell cycle and Annexin V/PI assays on human MCF-7 and MDA-MB231 breast cancer cells. Mice were orally fed with nordamnacanthal daily for 28 days for oral subchronic toxicity study. Then, the in vivo anti-tumor effect was evaluated on 4T1 murine cancer cells-challenged mice. Changes of tumor size and immune parameters were evaluated on the untreated and nordamnacanthal treated mice. Results: Nordamnacanthal was found to possess cytotoxic effects on MDA-MB231, MCF-7 and 4T1 cells in vitro. Moreover, based on the cell cycle and Annexin V results, nordamnacanthal managed to induce cell death in both MDA-MB231 and MCF-7 cells. Additionally, no mortality, signs of toxicity and changes of serum liver profile were observed in nordamnacanthal treated mice in the subchronic toxicity study. Furthermore, 50 mg/kg body weight of nordamncanthal successfully delayed the progression of 4T1 tumors in Balb/C mice after 28 days of treatment. Treatment with nordamnacanthal was also able to increase tumor immunity as evidenced by the immunophenotyping of the spleen and YAC-1 cytotoxicity assays. Conclusion: Nordamnacanthal managed to inhibit the growth and induce cell death in MDA-MB231 and MCF-7 cell lines in vitro and cease the tumor progression of 4T1 cells in vivo. Overall, nordamnacanthal holds interesting anti-cancer properties that can be further explored

Mutational analysis of the C-terminal FATC domain of Saccharomyces cerevisiae Tra1

Tra1 is a component of the Saccharomyces cerevisiae SAGA and NuA4 complexes and a member of the PIKK family, which contain a C-terminal phosphatidylinositol 3-kinase-like (PI3K) domain followed by a 35-residue FATC domain. Single residue changes of L3733A and F3744A, within the FATC domain, resulted in transcriptional changes and phenotypes that were similar but not identical to those caused by mutations in the PI3K domain or deletions of other SAGA or NuA4 components. The distinct nature of the FATC mutations was also apparent from the additive effect of tra1-L3733A with SAGA, NuA4, and tra1 PI3K domain mutations. Tra1-L3733A associates with SAGA and NuA4 components and with the Gal4 activation domain, to the same extent as wild-type Tra1; however, steady-state levels of Tra1-L3733A were reduced. We suggest that decreased stability of Tra1-L3733A accounts for the phenotypes since intragenic suppressors of tra1-L3733A restored Tra1 levels, and reducing wild-type Tra1 led to comparable growth defects. Also supporting a key role for the FATC domain in the structure/function of Tra1, addition of a C-terminal glycine residue resulted in decreased association with Spt7 and Esa1, and loss of cellular viability. These findings demonstrate the regulatory potential of mechanisms targeting the FATC domains of PIKK proteins

The global distribution of known and undiscovered ant biodiversity

Invertebrates constitute the majority of animal species and are critical for ecosystem functioning and services. Nonetheless, global invertebrate biodiversity patterns and their congruences with vertebrates remain largely unknown. We resolve the first high-resolution (~20-km) global diversity map for a major invertebrate clade, ants, using biodiversity informatics, range modeling, and machine learning to synthesize existing knowledge and predict the distribution of undiscovered diversity. We find that ants and different vertebrate groups have distinct features in their patterns of richness and rarity, underscoring the need to consider a diversity of taxa in conservation. However, despite their phylogenetic and physiological divergence, ant distributions are not highly anomalous relative to variation among vertebrate clades. Furthermore, our models predict that rarity centers largely overlap (78%), suggesting that general forces shape endemism patterns across taxa. This raises confidence that conservation of areas important for small-ranged vertebrates will benefit invertebrates while providing a “treasure map” to guide future discovery.The Okinawa Institute of Science and Technology Graduate University, the Japan Society for the Promotion of Science, Japan Society for the Promotion of Science Postdoctoral Fellowships for Foreign Researchers Program, Japan Ministry of the Environment, Environment Research, and Technology Development Fund no. 4-1904, the Leverhulme Trust, the National Science Foundation, Australian Research Discovery Grant, Foundational Biodiversity Information Programme (South Africa), and the USDA and NIFA support of the Mississippi Entomological Museum.https://www.science.org/journal/sciadvam2023Zoology and Entomolog

Genome-wide association and Mendelian randomisation analysis provide insights into the pathogenesis of heart failure

Heart failure (HF) is a leading cause of morbidity and mortality worldwide. A small proportion of HF cases are attributable to monogenic cardiomyopathies and existing genome-wide association studies (GWAS) have yielded only limited insights, leaving the observed heritability of HF largely unexplained. We report results from a GWAS meta-analysis of HF comprising 47,309 cases and 930,014 controls. Twelve independent variants at 11 genomic loci are associated with HF, all of which demonstrate one or more associations with coronary artery disease (CAD), atrial fibrillation, or reduced left ventricular function, suggesting shared genetic aetiology. Functional analysis of non-CAD-associated loci implicate genes involved in cardiac development (MYOZ1, SYNPO2L), protein homoeostasis (BAG3), and cellular senescence (CDKN1A). Mendelian randomisation analysis supports causal roles for several HF risk factors, and demonstrates CAD-independent effects for atrial fibrillation, body mass index, and hypertension. These findings extend our knowledge of the pathways underlying HF and may inform new therapeutic strategies

Listening to ecosystems: data-rich acoustic monitoring through landscape-scale sensor networks

Ecologists have many ways to measure and monitor ecosystems, each of which can reveal details about the processes unfolding therein. Acoustic recording combined with machine learning methods for species detection can provide remote, automated monitoring of species richness and relative abundance. Such recordings also open a window into how species behave and compete for niche space in the sensory environment. These opportunities are associated with new challenges: the volume and velocity of such data require new approaches to species identification and visualization. Here we introduce a newly-initiated acoustic monitoring network across the subtropical island of Okinawa, Japan, as part of the broader OKEON (Okinawa Environmental Observation Network) project. Our aim is to monitor the acoustic environment of Okinawa’s ecosystems and use these space–time data to better understand ecosystem dynamics. We present a pilot study based on recordings from five field sites conducted over a one-month period in the summer. Our results provide a proof of concept for automated species identification on Okinawa, and reveal patterns of biogenic vs. anthropogenic noise across the landscape. In particular, we found correlations between forest land cover and detection rates of two culturally important species in the island soundscape: the Okinawa Rail and Ruddy Kingfisher. Among the soundscape indices we examined, NDSI, Acoustic Diversity and the Bioacoustic Index showed both diurnal patterns and differences among sites. Our results highlight the potential utility of remote acoustic monitoring practices that, in combination with other methods can provide a holistic picture of biodiversity. We intend this project as an open resource, and wish to extend an invitation to researchers interested in scientific collaboration