The informativeness of stochastic frontier and programming frontier efficiency scores: Cost efficiency and other measures of bank holding company performance

This paper examines the properties of the X-inefficiencies in U.S. bank holding companies derived from both stochastic and linear programming frontiers. This examination allows the robustness of results across methods to be compared. While we find that calculated programming inefficiency scores are two to three times larger than those estimated using a stochastic frontier, the patterns of the scores across banks and time are similar, and there is a relatively high correlation of the rankings of banks' efficiencies under the two methods. However, when we examine the "informativeness" of the efficiency measured by the two different techniques, we find some large differences. We find evidence that the stochastic frontier scores are more closely related to risk-taking behavior, managerial competence, and bank stock returns. Based on these findings, we conclude that while both methods produce informative efficiency scores, for this data set decision makers should put more weight on the stochastic frontier efficiency estimates.Bank holding companies ; Banks and banking - Costs

0-π\pi quantum transition in a carbon nanotube Josephson junction: universal phase dependence and orbital degeneracy

We investigate experimentally the supercurrent in a clean carbon nanotube quantum dot, close to orbital degeneracy, connected to superconducting leads in a regime of strong competition between local electronic correlations and superconducting proximity effect. For an odd occupancy of the dot and intermediate coupling to the reservoir, the Kondo effect can develop in the normal state and screen the local magnetic moment of the dot. This leads to singlet-doublet transitions that strongly affect the Josephson effect in a single-level quantum dot: the sign of the supercurrent changes from positive to negative (0 to $\pi$-junction). In the regime of strongest competition between the Kondo effect and proximity effect, meaning that the Kondo temperature equals the superconducting gap, the magnetic state of the dot undergoes a first order quantum transition induced by the superconducting phase difference across the junction. This is revealed experimentally by anharmonic current-phase relations. In addition, the very specific electronic configuration of clean carbon nanotubes, with two nearly orbitally degenerated states, leads to different physics depending whether only one or both quasi-degenerate upper levels of the dots participate to transport, which is determined by their occupancy and relative widths. When the transport of Cooper pairs takes place through only one of these levels, we find that the phase diagram of the phase-dependent 0-$\pi$ transition is a universal characteristic of a discontinuous level-crossing quantum transition at zero temperature. In the case were two levels participate to transport, the nanotube Josephson current exhibits a continuous 0-$\pi$ transition, independent of the superconducting phase, revealing a different physical mechanism of the transition.Comment: 14 pages, 12 figure

Tuning the proximity effect in a superconductor-graphene-superconductor junction

We have tuned in situ the proximity effect in a single graphene layer coupled to two Pt/Ta superconducting electrodes. An annealing current through the device changed the transmission coefficient of the electrode/graphene interface, increasing the probability of multiple Andreev reflections. Repeated annealing steps improved the contact sufficiently for a Josephson current to be induced in graphene.Comment: Accepted for publication in Phys. Rev.

Superconductivity in ropes of carbon nanotubes

Recent experimental and theoretical results on intrinsic superconductivity in ropes of single-wall carbon nanotubes are reviewed and compared. We find strong experimental evidence for superconductivity when the distance between the normal electrodes is large enough. This indicates the presence of attractive phonon-mediated interactions in carbon nanotubes, which can even overcome the repulsive Coulomb interactions. The effective low-energy theory of rope superconductivity explains the experimental results on the temperature-dependent resistance below the transition temperature in terms of quantum phase slips. Quantitative agreement with only one fit parameter can be obtained. Nanotube ropes thus represent superconductors in an extreme 1D limit never explored before.Comment: 19 pages, 9 figures, to appear in special issue of Sol. State Com

Geometrical dependence of decoherence by electronic interactions in a GaAs/GaAlAs square network

We investigate weak localization in metallic networks etched in a two dimensional electron gas between $25\:$mK and $750\:$mK when electron-electron (e-e) interaction is the dominant phase breaking mechanism. We show that, at the highest temperatures, the contributions arising from trajectories that wind around the rings and trajectories that do not are governed by two different length scales. This is achieved by analyzing separately the envelope and the oscillating part of the magnetoconductance. For $T\gtrsim0.3\:$K we find \Lphi^\mathrm{env}\propto{T}^{-1/3} for the envelope, and \Lphi^\mathrm{osc}\propto{T}^{-1/2} for the oscillations, in agreement with the prediction for a single ring \cite{LudMir04,TexMon05}. This is the first experimental confirmation of the geometry dependence of decoherence due to e-e interaction.Comment: LaTeX, 5 pages, 4 eps figure

Microwave response of an NS ring coupled to a superconducting resonator

A long phase coherent normal (N) wire between superconductors (S) is characterized by a dense phase dependent Andreev spectrum . We probe this spectrum in a high frequency phase biased configuration, by coupling an NS ring to a multimode superconducting resonator. We detect a dc flux and frequency dependent response whose dissipative and non dissipative components are related by a simple Debye relaxation law with a characteristic time of the order of the diffusion time through the N part of the ring. The flux dependence exhibits $h/2e$ periodic oscillations with a large harmonics content at temperatures where the Josephson current is purely sinusoidal. This is explained considering that the populations of the Andreev levels are frozen on the time-scale of the experiments.Comment: 5 pages,4 figure

Searching for the Kardar-Parisi-Zhang phase in microcavity polaritons

Recent analytical work has shown that, at certain values of the external pump, the optical parametric oscillator (OPO) regime of microcavity polaritons may provide a realisation of Kardar-Parisi-Zhang (KPZ) physics in 2D. Here, we verify this by solving the full microscopic model numerically using the truncated Wigner method, and studying the first order spatial correlations. For the predicted pump strengths, these correlations decay much faster and, perpendicular to the pump, fit closely to the stretched exponential form predicted by the KPZ equation, in contrast to the usual algebraic decay. This strongly indicates the viability of observing KPZ behaviour in future polariton OPO experiments.Comment: Main text (6 pages, 5 figures) plus supplementary material (3 pages, 5 figures