A pricing formula for delayed claims: appreciating the past to value the future

We consider the valuation of contingent claims with delayed dynamics in a Samuelson complete market model. We find a pricing formula that can be decomposed into terms reflecting the current market values of the past and the future, showing how the valuation of prospective cashflows cannot abstract away from the contribution of the past. As a practical application, we provide an explicit expression for the market value of human capital in a setting with wage rigidity. The formula we derive has successfully been used to explicitly solve the infinite dimensional stochastic control problems addressed in [7], [6] and [16]

Non-specific cellular uptake of surface-functionalized quantum dots

We report a systematic empirical study of nanoparticle internalization into cells via non-specific pathways. The nanoparticles were comprised of commercial quantum dots (QDs) that were highly visible under a fluorescence confocal microscope. Surface-modified QDs with basic biologically-significant moieties, e.g. carboxyl, amino, streptavidin were used, in combination with the surface derivatization with polyethylene glycol (PEG) in a range of immortalized cell lines. Internalization rates were derived from image analysis and a detailed discussion about the effect of nanoparticle size, charge and surface groups is presented. We find that PEG-derivatization dramatically suppresses the non-specific uptake while PEG-free carboxyl and amine functional groups promote QD internalization. These uptake variations displayed a remarkable consistency across different cell types. The reported results are important for experiments concerned with cellular uptake of surface-functionalized nanomaterials, both when non-specific internalization is undesirable and also when it is intended for material to be internalized as efficiently as possible. Published article at: http://iopscience.iop.org/0957-4484/21/28/285105/Comment: 14 pages 7 figure

Recent advances in cytokine detection by immunosensing

Abstract not availableGuozhen Liu, Meng Qi, Mark R. Hutchinson, Guangfu Yang, Ewa M. Goldy

Sensitive cytokine assay based on optical fiber allowing localized and spatially resolved detection of interleukin-6

We demonstrated a cytokine detection device based on gold nanoparticle modified silica optical fiber for the monitoring of locally variable cytokine interleukin-6 (IL-6) concentrations using a sandwich immunoassay scheme. The fiber is designed to be introduced into an intrathecal catheter with micrometer-sized holes drilled along its length to enable fluid exchange between the outside and inside of the catheter. An exposed optical fiber (diameter 125 μm) modified with a layer of gold nanoparticles was functionalized with the IL-6 capture antibody to form the sensing interface. The immunocapture device was incubated with a cytokine solution to capture the analyte. The device was then exposed to the IL-6 detection antibody which was loaded on the fluorescently labeled magnetic nanoparticles, making it possible to quantify the cytokine concentration based on the intensity of fluorescence. A reliable method for quantifying the fluorescent signal on a 3D structure was developed. This device was applied to the detection of cytokine IL-6 with the low limit of detection of 1 pg mL⁻¹ in a sample volume of 1 μL. The device has the linear detection range of 1–400 pg mL⁻¹ and spatial resolution on the order of 200–450 μm, and it is capable of detecting localized IL-6 secreted by live BV2 cells following their liposaccharide stimulation. This biological detection system is suitable for monitoring multiple health conditions.Guozhen Liu, Kaixin Zhang, Annemarie Nadort, Mark R. Hutchinson, and Ewa M. Goldy

Doping effect on dark currents in In₀.₅Ga₀.₅As∕GaAs quantum dot infrared photodetectors grown by metal-organic chemical vapor deposition

Stacked self-assembled In₀.₅Ga₀.₅As∕GaAs quantum dot infrared photodetectors grown by low-pressure metal-organic chemical vapor deposition, with and without silicon dopants in the quantum dot layers, are investigated. The increase of dark currents observed at higher doping levels is attributed to higher defect density leading to stronger sequential resonant tunneling and to lowering of the operating temperature of the device

A pricing formula for delayed claims: appreciating the past to value the future

We consider the valuation of contingent claims with delayed dynamics in a Samuelson complete market model. We find a pricing formula that can be decomposed into terms reflecting the current market values of the past and the future, showing how the valuation of prospective cashflows cannot abstract away from the contribution of the past. As a practical application, we provide an explicit expression for the market value of human capital in a setting with wage rigidity. The formula we derive has successfully been used to explicitly solve the infinite dimensional stochastic control problems addressed in Biffis et al. (SIAM J Control Optim 58(4):1906–1938, 2020), Djeiche et al. (Stoch Process Appl 145:48–85, 2022) and Biagini et al. (SIAM J Financial Math 13(3):1004–1039, 2022)

Optical properties of Mn-doped GaN

Molecular beam epitaxy-grown GaN with different Mn concentrations (5-23×1019 cm-3) and codoped with Si were investigated by cathodoluminescence (CL) spectroscopy and optical transmission measurements. In the GaN:Mn, an intense absorption peak at 1.414 +/- 0.002 eV was observed. This peak was attributed to an internal 5T 2→ 5E transition of the deep neutral Mn3+ state since its intensity scaled with the Mn3+ concentration. The CL measurements showed that Mn-doping concentrations around 1020 cm -3 had three effects on the emission spectrum: (i) the donor bound exciton at 3.460 eV was reduced by more than one order of magnitude, (ii) the donor-acceptor-pair band at 3.27 eV was completely quenched and (iii) the yellow luminescence centered at 2.2 eV was the strongly decreased. The latter two effects were attributed to a reduced concentration of VGa. In the infrared spectral range, three broad, Mn-doping related CL emission bands centered at 1.01 ± 0.02 eV, 1.09 ± 0.02 eV and 1.25 ± 0.03 eV were observed. These bands might be related to deep donor complexes, which are generated as a result of the heavy Mn-doping, rather than internal transitions at the Mn atom

Evidence of Skyrmion excitations about ν=1\nu =1 in n-Modulation Doped Single Quantum Wells by Inter-band Optical Transmission

We observe a dramatic reduction in the degree of spin-polarization of a two-dimensional electron gas in a magnetic field when the Fermi energy moves off the mid-point of the spin-gap of the lowest Landau level, $\nu=1$. This rapid decay of spin alignment to an unpolarized state occurs over small changes to both higher and lower magnetic field. The degree of electron spin polarization as a function of $\nu$ is measured through the magneto-absorption spectra which distinguish the occupancy of the two electron spin states. The data provide experimental evidence for the presence of Skyrmion excitations where exchange energy dominates Zeeman energy in the integer quantum Hall regime at $\nu=1$