Brownian markets

Financial market dynamics is rigorously studied via the exact generalized Langevin equation. Assuming market Brownian self-similarity, the market return rate memory and autocorrelation functions are derived, which exhibit an oscillatory-decaying behavior with a long-time tail, similar to empirical observations. Individual stocks are also described via the generalized Langevin equation. They are classified by their relation to the market memory as heavy, neutral and light stocks, possessing different kinds of autocorrelation functions

Precision of the current methods to measure the alkenone proxy UK'37 and absolute alkenone abundance in sediments : results of an interlaboratory comparison study

Measurements of the UK'37 index and the absolute abundance of alkenones in marine sediments are increasingly used in paleoceanographic research as proxies of past sea surface temperature and haptophyte (mainly coccolith-bearing species) primary productivity, respectively. An important aspect of these studies is to be able to compare reliably data obtained by different laboratories from a wide variety of locations. Hence the intercomparability of data produced by the research community is essential. Here we report results from an anonymous interlaboratory comparison study involving 24 of the leading laboratories that carry out alkenone measurements worldwide. The majority of laboratories produce data that are intercomparable within the considered confidence limits. For the measurement of alkenone concentrations, however, there are systematic biases between laboratories, which might be related to the techniques employed to quantify the components. The maximum difference between any two laboratories for any two single measurements of UK'37 in sediments is estimated, with a probability of 95%, to be <2.18C. In addition, the overall within-laboratory precision for the UK'37 temperature estimates is estimated to be <1.68C (95% probability). Similarly, from the analyses of alkenone concentrations the interlaboratory reproducibility is estimated at 32%, and the repeatability is estimated at 24%. The former is compared to a theoretical estimate of reproducibility and found to be excessively high. Hence there is certainly scope and a demonstrable need to improve reproducibility and repeatability of UK'37 and especially alkenone quantification data across the community of scientists involved in alkenone research

Hydrology in the Sea of Marmara during the last 23 ka : implications for timing of Black Sea connections and sapropel deposition

Author Posting. © American Geophysical Union, 2010. This article is posted here by permission of American Geophysical Union for personal use, not for redistribution. The definitive version was published in Paleoceanography 25 (2010): PA1205, doi:10.1029/2009PA001735.Sediments deposited under lacustrine and marine conditions in the Sea of Marmara hold a Late Quaternary record for water exchange between the Black Sea and the Mediterranean Sea. Here we report a multiproxy data set based on oxygen and strontium isotope results obtained from carbonate shells, major and trace elements, and specific organic biomarker measurements, as well as a micropaleontological study from a 14C-dated sediment core retrieved from the Sea of Marmara. Pronounced changes occurred in δ18O and 87Sr/86Sr values at the fresh and marine water transition, providing additional information in relation to micropaleontological data. Organic biomarker concentrations documented the marine origin of the sapropelic layer while changes in n-alkane concentrations clearly indicated an enhanced contribution for organic matter of terrestrial origin before and after the event. When compared with the Black Sea record, the results suggest that the Black Sea was outflowing to the Sea of Marmara from the Last Glacial Maximum until the warmer Bølling-Allerød. The first marine incursion in the Sea of Marmara occurred at 14.7 cal ka B.P. However, salinification of the basin was gradual, indicating that Black Sea freshwaters were still contributing to the Marmara seawater budget. After the Younger Dryas (which is associated with a high input of organic matter of terrestrial origin) both basins were disconnected, resulting in a salinity increase in the Sea of Marmara. The deposition of organic-rich sapropel that followed was mainly related to enhanced primary productivity characterized by a reorganization of the phytoplankton population.We acknowledge support from INSU and the French Polar Institute IPEV

Precision of the current methods to measure the alkenone proxy U₃₇ K’ and absolute alkenone abundance in sediments: results of an interlaboratory comparison study

Measurements of the U₃₇ K’ index and the absolute abundance of alkenones in marine sediments are increasingly used in paleoceanographic research as proxies of past sea surface temperature and haptophyte (mainly coccolith-bearing species) primary productivity, respectively. An important aspect of these studies is to be able to compare reliably data obtained by different laboratories from a wide variety of locations. Hence the intercomparability of data produced by the research community is essential. Here we report results from an anonymous interlaboratory comparison study involving 24 of the leading laboratories that carry out alkenone measurements worldwide. The majority of laboratories produce data that are intercomparable within the considered confidence limits. For the measurement of alkenone concentrations, however, there are systematic biases between laboratories, which might be related to the techniques employed to quantify the components. The maximum difference between any two laboratories for any two single measurements of U₃₇ K’ in sediments is estimated, with a probability of 95%, to be <2.1°C. In addition, the overall within-laboratory precision for the U₃₇ K’ temperature estimates is estimated to be <1.6°C (95% probability). Similarly, from the analyses of alkenone concentrations the interlaboratory reproducibility is estimated at 32%, and the repeatability is estimated at 24%. The former is compared to a theoretical estimate of reproducibility and found to be excessively high. Hence there is certainly scope and a demonstrable need to improve reproducibility and repeatability of U₃₇ K’ and especially alkenone quantification data across the community of scientists involved in alkenone research

Physikalische Strukturen von Tiefseesedimenten des Südatlantiks und ihre Erfassung in Echolotregistrierungen.

In this thesis geophysical data from two RV METEOR cruises M 6-6 (1988) and M 9-4 (1989) in the Equatorial South Atlantic was used to investigate the genesis of reflections in analogue and digital echosounder records. Analogue black-white paper records of the PARASOUND echosounder system (Krupp Atlas Elektronik) enable a qualitative description of sedimentation- and erosion processes. Three profiles from the Western African continental rise show a decreasing sharpness of the reflection pattern with increasing biogenie productivity and sedimentation rate. Echosounder records from pelagic regions like Walfish Ridge, Angola and Guinea Basin, Mid-Atlantic Ridge and Brasil Basin show clearly stratified reflection patterns, interrupted by topographie highs.Measurements of sediment physical properties on gravity cores allow to calculate synthetic seismogramms and to compare them with analogue PARASOUND echograms and digital PARASOUND seismograms. Detailled core descriptions enable to evaluate the influence of lithologie variations on the reflection patterns in the echosounder records. Acoustic properties like acoustic impedance and reflectivity are mainly controlled by P-wave velocity and wet bulk density. Therefore the dependance of these two parameters on porosity, carbonate and sand content was investigated. Physical properties allow to distinguish between five types of sediment from different depositional environments (continental rise, oceanic highs, deep-sea basins).Terrigeneous turbidite layers produce strong reflection horizons in synthetic seismograms. Smaller variations of the acoustic impedance are caused by carbonate, silt or sand content. Since the carbonate content is linked to glacial/interglacial cycles, acoustic impedance and reflection patterns can contain paleoclimatic signals.Generally there is a good correlation between the synthetic seismograms and analogue and digital PARASOUND records. Additionally, synthetic seismograms and digital echosounder signals provide some semi-quantitative information relating to the amplitudes of reflections, whereas the PARASOUND paper records alone merely shows the energy distribution with depth above a certain threshold level.1

Sea surface temperature and productivity records for the last 240 kyr on the Arabian Sea

International audienceno abstrac

Present status of radiocarbon calibration and comparison records based on Polynesian corals and Iberian Margin sediments

In this paper, we present updated information and results of the radiocarbon records based on Polynesian corals and on Iberian Margin planktonic foraminifera. The latter record was first published by Bard et al. (2004a,b), with the subsequent addition of some data by Shackleton et al. (2004). These data sets are compared with the IntCal98 record (Stuiver et al. 1998) and with data sets based on other archives, such as varves of Lake Suigetsu (Kitagawa and van der Plicht 1998, 2000), speleothems from the Bahamas (Beck et al. 2001), and Cariaco sediments (Hughen et al. 2004). Up to 26,000 cal BP, the Iberian Margin data agree within the errors of the other records. By contrast, in the interval between 33,000 and 41,000 cal BP, the Iberian Margin record runs between the Lake Suigetsu and Bahamian speleothem data sets, but it agrees with the few ImCal98 coral data and the Cariaco record

Sea-surface salinity variations in the northern Caribbean Sea across the Mid-Pleistocene Transition

International audienceBy reconstructing past hydrologic variations in the Northern Caribbean Sea and their influence on the stability of the Atlantic Meridional Overturning Circulation (AMOC) during the last 940 ka, we seek to document climate changes in this tropical area in response to the Mid-Pleistocene Transition (MPT). Using core MD03-2628, we estimated past changes in sea surface salinity (SSS) using Delta delta O-18, the difference between the modern, and the past delta O-18 of seawater (obtained by combining alkenone thermometer data with the delta O-18 of the planktonic foraminifera Globigerinoides ruber (white) and corrected for ice-sheet volume effects). Today, the lowest SSS values in the area studied are associated with the northernmost location of the Inter-Tropical Convergence Zone (ITCZ). The Delta delta O-18 record obtained from core MD03-2628 exhibits glacial/interglacial cyclicity with higher values during all glacial periods spanning the last 940 ka, indicating increased SSS. A long-term trend was also observed in the Delta delta O-18 values that exhibited a shift toward lower values for interglacial periods during the last 450 ka, as compared to interglacial stages older than 650 ka. A rise in SSS during glacial stages may be related to the southern-most location of the ITCZ, which is induced by a steeper cross-equator temperature gradient and associated with reduced northward cross-equatorial oceanic transport. Therefore, the results suggest a permanent link between the tropical salinity budget and the AMOC during the last 940 ka. Following the MPT, lower salinities during the last five interglacial stages indicated a northernmost ITCZ location that was forced by changes in the cross-equator temperature gradient and that was associated with the poleward position of Southern Oceanic Fronts that amplify the transport of heat and moisture to the North Atlantic. These processes may have contributed to the amplification of the climate cycles that followed the MPT