A comparative analysis of the value of information in a continuous time market model with partial information: the cases of log-utility and CRRA

We study the question what value an agent in a generalized Black-Scholes model with partial information attributes to the complementary information. To do this, we study the utility maximization problems from terminal wealth for the two cases partial information and full information. We assume that the drift term of the risky asset is a dynamic process of general linear type and that the two levels of observation correspond to whether this drift term is observable or not. Applying methods from stochastic filtering theory we derive an analytical tractable formula for the value of information in the case of logarithmic utility. For the case of constant relative risk aversion (CRRA) we derive a semianalytical formula, which uses as an input the numerical solution of a system of ODEs. For both cases we present a comparative analysis

Ledoux-Convection in Protoneutron Stars --- a Clue to Supernova Nucleosynthesis?

Two-dimensional hydrodynamical simulations of the deleptonization of a newly formed neutron star were performed. Driven by negative lepton fraction and entropy gradients, convection starts near the neutrinosphere about 20-30 ms after core bounce, but moves deeper into the protoneutron star, and after about one second the whole protoneutron star is convective. The deleptonization of the star proceeds much faster than in the corresponding spherically symmetrical model because the lepton flux and the neutrino luminosities increase by up to a factor of two. The convection below the neutrinosphere raises the neutrinospheric temperatures and mean energies of the emitted neutrinos by 10-20%. This can have important implications for the supernova explosion mechanism and changes the detectable neutrino signal from the Kelvin-Helmholtz cooling of the protoneutron star. In particular, the enhanced electron neutrino flux relative to the electron antineutrino flux during the early post-bounce evolution might solve the overproduction problem of certain elements in the neutrino-heated ejecta in models of type-II supernova explosions.Comment: 17 pages, LaTeX, 8 postscript figures, uses epsf.sty. To appear in ApJ 473 (Letters), 1996 December 1

Dynamical Diffraction Theory for Wave Packet Propagation in Deformed Crystals

We develop a theory for the trajectory of an x ray in the presence of a crystal deformation. A set of equations of motion for an x-ray wave packet including the dynamical diffraction is derived, taking into account the Berry phase as a correction to geometrical optics. The trajectory of the wave packet has a shift of the center position due to a crystal deformation. Remarkably, in the vicinity of the Bragg condition, the shift is enhanced by a factor $\omega /\Delta \omega$ ($\omega$: frequency of an x ray, $\Delta\omega$: gap frequency induced by the Bragg reflection). Comparison with the conventional dynamical diffraction theory is also made.Comment: 4 pages, 2 figures. Title change

Parent-only interventions in the treatment of childhood obesity: a systematic review of randomized controlled trials

Background An effective and cost-effective treatment is required for the treatment of childhood obesity. Comparing parent-only interventions with interventions including the child may help determine this. Methods A systematic review of published and ongoing studies until 2013, using electronic database and manual searches. Inclusion criteria: randomized controlled trials, overweight/obese children aged 5-12 years, parent-only intervention compared with an intervention that included the child, 6 months or more follow-up. Outcomes included measures of overweight. Results Ten papers from 6 completed studies, and 2 protocols for ongoing studies, were identified. Parent-only groups are either more effective than or similarly effective as child-only or parent-child interventions, in the change in degree of overweight. Most studies were at unclear risk of bias for randomization, allocation concealment and blinding of outcome assessors. Two trials were at high risk of bias for incomplete outcome data. Four studies showed higher dropout from parent-only interventions. One study examined programme costs and found parent-only interventions to be cheaper. Conclusions Parent-only interventions appear to be as effective as parent-child interventions in the treatment of childhood overweight/obesity, and may be less expensive. Reasons for higher attrition rates in parent-only interventions need further investigatio

Gravitational waves from relativistic rotational core collapse

We present results from simulations of axisymmetric relativistic rotational core collapse. The general relativistic hydrodynamic equations are formulated in flux-conservative form and solved using a high-resolution shock-capturing scheme. The Einstein equations are approximated with a conformally flat 3-metric. We use the quadrupole formula to extract waveforms of the gravitational radiation emitted during the collapse. A comparison of our results with those of Newtonian simulations shows that the wave amplitudes agree within 30%. Surprisingly, in some cases, relativistic effects actually diminish the amplitude of the gravitational wave signal. We further find that the parameter range of models suffering multiple coherent bounces due to centrifugal forces is considerably smaller than in Newtonian simulations.Comment: 4 pages, 3 figure

Field-induced structure transformation in electrorheological solids

We have computed the local electric field in a body-centered tetragonal (BCT) lattice of point dipoles via the Ewald-Kornfeld formulation, in an attempt to examine the effects of a structure transformation on the local field strength. For the ground state of an electrorheological solid of hard spheres, we identified a novel structure transformation from the BCT to the face-centered cubic (FCC) lattices by changing the uniaxial lattice constant c under the hard sphere constraint. In contrast to the previous results, the local field exhibits a non-monotonic transition from BCT to FCC. As c increases from the BCT ground state, the local field initially decreases rapidly towards the isotropic value at the body-centered cubic lattice, decreases further, reaching a minimum value and increases, passing through the isotropic value again at an intermediate lattice, reaches a maximum value and finally decreases to the FCC value. An experimental realization of the structure transformation is suggested. Moreover, the change in the local field can lead to a generalized Clausius-Mossotti equation for the BCT lattices.Comment: Submitted to Phys. Rev.

Forest canopy mortality during the 2018-2020 summer drought years in Central Europe: The application of a deep learning approach on aerial images across Luxembourg

Efficient monitoring of tree canopy mortality requires data that cover large areas and capture changes over time while being precise enough to detect changes at the canopy level. In the development of automated approaches, aerial images represent an under-exploited scale between high-resolution drone images and satellite data. Our aim herein was to use a deep learning model to automatically detect canopy mortality from high-resolution aerial images after severe drought events in the summers 2018–2020 in Luxembourg. We analysed canopy mortality for the years 2017–2020 using the EfficientUNet++, a state-of-the-art convolutional neural network. Training data were acquired for the years 2017 and 2019 only, in order to test the robustness of the model for years with no reference data. We found a severe increase in canopy mortality from 0.64 km2 in 2017 to 7.49 km2 in 2020, with conifers being affected at a much higher rate than broadleaf trees. The model was able to classify canopy mortality with an F1-score of 66%–71% and we found that for years without training data, we were able to transfer the model trained on other years to predict canopy mortality, if illumination conditions did not deviate severely. We conclude that aerial images hold much potential for automated regular monitoring of canopy mortality over large areas at canopy level when analysed with deep learning approaches. We consider the suggested approach a cost-efficient and -effective alternative to drone and field-based sampling

Effects of geometric anisotropy on local field distribution: Ewald-Kornfeld formulation

We have applied the Ewald-Kornfeld formulation to a tetragonal lattice of point dipoles, in an attempt to examine the effects of geometric anisotropy on the local field distribution. The various problems encountered in the computation of the conditionally convergent summation of the near field are addressed and the methods of overcoming them are discussed. The results show that the geometric anisotropy has a significant impact on the local field distribution. The change in the local field can lead to a generalized Clausius-Mossotti equation for the anisotropic case.Comment: Accepted for publications, Journal of Physics: Condensed Matte