1,279 research outputs found
Clustering in a precipitate free GeMn magnetic semiconductor
We present the first study relating structural parameters of precipitate free
Ge0.95Mn0.05 films to magnetisation data. Nanometer sized clusters - areas with
increased Mn content on substitutional lattice sites compared to the host
matrix - are detected in transmission electron microscopy (TEM) analysis. The
films show no overall spontaneous magnetisation at all down to 2K. The TEM and
magnetisation results are interpreted in terms of an assembly of
superparamagnetic moments developing in the dense distribution of clusters.
Each cluster individually turns ferromagnetic below an ordering temperature
which depends on its volume and Mn content.Comment: accepted for publication in Phys. Rev. Lett. (2006). High resolution
images ibide
Interplay between the electrical transport properties of GeMn thin films and Ge substrates
We present evidence that electrical transport studies of epitaxial p-type
GeMn thin films fabricated on high resistivity Ge substrates are severely
influenced by parallel conduction through the substrate, related to the large
intrinsic conductivity of Ge due to its small bandgap. Anomalous Hall
measurements and large magneto resistance effects are completely understood by
taking a dominating substrate contribution as well as the measurement geometry
into account. It is shown that substrate conduction persists also for well
conducting, degenerate, p-type thin films, giving rise to an effective
two-layer conduction scheme. Using n-type Ge substrates, parallel conduction
through the substrate can be reduced for the p-type epi-layers, as a
consequence of the emerging pn-interface junction. GeMn thin films fabricated
on these substrates exhibit a negligible magneto resistance effect. Our study
underlines the importance of a thorough characterization and understanding of
possible substrate contributions for electrical transport studies of GeMn thin
films.Comment: 9 pages, 9 figure
Option pricing under stochastic volatility: the exponential Ornstein-Uhlenbeck model
We study the pricing problem for a European call option when the volatility
of the underlying asset is random and follows the exponential
Ornstein-Uhlenbeck model. The random diffusion model proposed is a
two-dimensional market process that takes a log-Brownian motion to describe
price dynamics and an Ornstein-Uhlenbeck subordinated process describing the
randomness of the log-volatility. We derive an approximate option price that is
valid when (i) the fluctuations of the volatility are larger than its normal
level, (ii) the volatility presents a slow driving force toward its normal
level and, finally, (iii) the market price of risk is a linear function of the
log-volatility. We study the resulting European call price and its implied
volatility for a range of parameters consistent with daily Dow Jones Index
data.Comment: 26 pages, 6 colored figure
Magnetic and structural properties of GeMn films: precipitation of intermetallic nanomagnets
We present a comprehensive study relating the nanostructure of Ge_0.95Mn_0.05
films to their magnetic properties. The formation of ferromagnetic nanometer
sized inclusions in a defect free Ge matrix fabricated by low temperature
molecular beam epitaxy is observed down to substrate temperatures T_S as low as
70 deg. Celsius. A combined transmission electron microscopy (TEM) and electron
energy-loss spectroscopy (EELS) analysis of the films identifies the inclusions
as precipitates of the ferromagnetic compound Mn_5Ge_3. The volume and amount
of these precipitates decreases with decreasing T_S. Magnetometry of the films
containing precipitates reveals distinct temperature ranges: Between the
characteristic ferromagnetic transition temperature of Mn_5Ge_3 at
approximately room temperature and a lower, T_S dependent blocking temperature
T_B the magnetic properties are dominated by superparamagnetism of the Mn_5Ge_3
precipitates. Below T_B, the magnetic signature of ferromagnetic precipitates
with blocked magnetic moments is observed. At the lowest temperatures, the
films show features characteristic for a metastable state.Comment: accepted for publication in Phys. Rev. B 74 (01.12.2006). High
resolution images ibide
Novel Sorption Enhanced Reaction Process for Simultaneous Production of CO2 and H2 from Synthesis Gas Produced by Coal Gasification
The goal of this project is to evaluate the extensive feasibility of a novel concept called Thermal Swing Sorption Enhanced Reaction (TSSER) process to simultaneously produce H{sub 2} and CO{sub 2} as a single unit operation in a sorber-reactor. The successful demonstration of the potential feasibility of the TSSER concept implies that it is worth pursuing further development of the idea. This can be done by more extensive evaluation of the basic sorptive properties of the CO{sub 2} chemisorbents at realistic high pressures and by continuing the experimental and theoretical study of the TSSER process. This will allow us to substantiate the assumptions made during the preliminary design and evaluation of the process and firm up the initial conclusions. The task performed under this project consists of (i) retrofitting an existing single column sorption apparatus for measurement of high pressure CO{sub 2} sorption characteristics, (ii) measurement of high pressure CO{sub 2} chemisorption equilibria, kinetics and sorption-desorption column dynamic characteristics under the conditions of thermal swing operation of the TSSER process, (iii) experimental evaluation of the individual steps of the TSSER process (iv) development of extended mathematical model for simulating cyclic continuous operation of TSSER to aid in process scale-up and for guiding future work, (v) simulate and test SER concept using realistic syngas composition, (vi) extensive demonstration of the thermal stability of sorbents using a TGA apparatus, (vii) investigation of the surfaces of the adsorbents and adsorbed CO{sub 2} ,and (viii) test the effects of sulfur compounds found in syngas on the CO{sub 2} sorbents
Pricing Options in Incomplete Equity Markets via the Instantaneous Sharpe Ratio
We use a continuous version of the standard deviation premium principle for
pricing in incomplete equity markets by assuming that the investor issuing an
unhedgeable derivative security requires compensation for this risk in the form
of a pre-specified instantaneous Sharpe ratio. First, we apply our method to
price options on non-traded assets for which there is a traded asset that is
correlated to the non-traded asset. Our main contribution to this particular
problem is to show that our seller/buyer prices are the upper/lower good deal
bounds of Cochrane and Sa\'{a}-Requejo (2000) and of Bj\"{o}rk and Slinko
(2006) and to determine the analytical properties of these prices. Second, we
apply our method to price options in the presence of stochastic volatility. Our
main contribution to this problem is to show that the instantaneous Sharpe
ratio, an integral ingredient in our methodology, is the negative of the market
price of volatility risk, as defined in Fouque, Papanicolaou, and Sircar
(2000).Comment: Keywords: Pricing derivative securities, incomplete markets, Sharpe
ratio, correlated assets, stochastic volatility, non-linear partial
differential equations, good deal bound
Non-relativistic metrics from back-reacting fermions
It has recently been pointed out that under certain circumstances the
back-reaction of charged, massive Dirac fermions causes important modifications
to AdS_2 spacetimes arising as the near horizon geometry of extremal black
holes. In a WKB approximation, the modified geometry becomes a non-relativistic
Lifshitz spacetime. In three dimensions, it is known that integrating out
charged, massive fermions gives rise to gravitational and Maxwell Chern-Simons
terms. We show that Schrodinger (warped AdS_3) spacetimes exist as solutions to
a gravitational and Maxwell Chern-Simons theory with a cosmological constant.
Motivated by this, we look for warped AdS_3 or Schrodinger metrics as exact
solutions to a fully back-reacted theory containing Dirac fermions in three and
four dimensions. We work out the dynamical exponent in terms of the fermion
mass and generalize this result to arbitrary dimensions.Comment: 26 pages, v2: typos corrected, references added, minor change
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