The Apparent Madness of Crowds: Irrational collective behavior emerging from interactions among rational agents

Standard economic theory assumes that agents in markets behave rationally. However, the observation of extremely large fluctuations in the price of financial assets that are not correlated to changes in their fundamental value, as well as the extreme instance of financial bubbles and crashes, imply that markets (at least occasionally) do display irrational behavior. In this paper, we briefly outline our recent work demonstrating that a market with interacting agents having bounded rationality can display price fluctuations that are {\em quantitatively} similar to those seen in real markets.Comment: 4 pages, 1 figure, to appear in Proceedings of International Workshop on "Econophysics of Stock Markets and Minority Games" (Econophys-Kolkata II), Feb 14-17, 200

A note on a gauge-gravity relation and functional determinants

We present a refinement of a recently found gauge-gravity relation between one-loop effective actions: on the gauge side, for a massive charged scalar in 2d dimensions in a constant maximally symmetric electromagnetic field; on the gravity side, for a massive spinor in d-dimensional (Euclidean) anti-de Sitter space. The inclusion of the dimensionally regularized volume of AdS leads to complete mapping within dimensional regularization. In even-dimensional AdS, we get a small correction to the original proposal; whereas in odd-dimensional AdS, the mapping is totally new and subtle, with the `holographic trace anomaly' playing a crucial role.Comment: 6 pages, io

Inverse problem by Cauchy data on arbitrary subboundary for system of elliptic equations

We consider an inverse problem of determining coefficient matrices in an $N$-system of second-order elliptic equations in a bounded two dimensional domain by a set of Cauchy data on arbitrary subboundary. The main result of the article is as follows: If two systems of elliptic operators generate the same set of partial Cauchy data on an arbitrary subboundary, then the coefficient matrices of the first-order and zero-order terms satisfy the prescribed system of first-order partial differential equations. The main result implies the uniqueness of any two coefficient matrices provided that the one remaining matrix among the three coefficient matrices is known

A local families index formula for d-bar operators on punctured Riemann surfaces

Using heat kernel methods developed by Vaillant, a local index formula is obtained for families of d-bar operators on the Teichmuller universal curve of Riemann surfaces of genus g with n punctures. The formula also holds on the moduli space M{g,n} in the sense of orbifolds where it can be written in terms of Mumford-Morita-Miller classes. The degree two part of the formula gives the curvature of the corresponding determinant line bundle equipped with the Quillen connection, a result originally obtained by Takhtajan and Zograf.Comment: 47 page

On the infimum attained by a reflected L\'evy process

This paper considers a L\'evy-driven queue (i.e., a L\'evy process reflected at 0), and focuses on the distribution of $M(t)$, that is, the minimal value attained in an interval of length $t$ (where it is assumed that the queue is in stationarity at the beginning of the interval). The first contribution is an explicit characterization of this distribution, in terms of Laplace transforms, for spectrally one-sided L\'evy processes (i.e., either only positive jumps or only negative jumps). The second contribution concerns the asymptotics of \prob{M(T_u)> u} (for different classes of functions $T_u$ and $u$ large); here we have to distinguish between heavy-tailed and light-tailed scenarios

(−)‐[ 18 F]Flubatine: evaluation in rhesus monkeys and a report of the first fully automated radiosynthesis validated for clinical use

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/101867/1/jlcr3069.pd

Estimation of Sea Ice Thickness Distributions through the Combination of Snow Depth and Satellite Laser Altimetry Data

Combinations of sea ice freeboard and snow depth measurements from satellite data have the potential to provide a means to derive global sea ice thickness values. However, large differences in spatial coverage and resolution between the measurements lead to uncertainties when combining the data. High resolution airborne laser altimeter retrievals of snow-ice freeboard and passive microwave retrievals of snow depth taken in March 2006 provide insight into the spatial variability of these quantities as well as optimal methods for combining high resolution satellite altimeter measurements with low resolution snow depth data. The aircraft measurements show a relationship between freeboard and snow depth for thin ice allowing the development of a method for estimating sea ice thickness from satellite laser altimetry data at their full spatial resolution. This method is used to estimate snow and ice thicknesses for the Arctic basin through the combination of freeboard data from ICESat, snow depth data over first-year ice from AMSR-E, and snow depth over multiyear ice from climatological data. Due to the non-linear dependence of heat flux on ice thickness, the impact on heat flux calculations when maintaining the full resolution of the ICESat data for ice thickness estimates is explored for typical winter conditions. Calculations of the basin-wide mean heat flux and ice growth rate using snow and ice thickness values at the 70 m spatial resolution of ICESat are found to be approximately one-third higher than those calculated from 25 km mean ice thickness values