On worst-case investment with applications in finance and insurance mathematics

We review recent results on the new concept of worst-case portfolio optimization, i.e. we consider the determination of portfolio processes which yield the highest worst-case expected utility bound if the stock price may have uncertain (down) jumps. The optimal portfolios are derived as solutions of non-linear differential equations which itself are consequences of a Bellman principle for worst-case bounds. They are by construction non-constant ones and thus differ from the usual constant optimal portfolios in the classical examples of the Merton problem. A particular application of such strategies is to model crash possibilities where both the number and the height of the crash is uncertain but bounded. We further solve optimal investment problems in the presence of an additional risk process which is the typical situation of an insurer

Professional Doctorate in Educational and Child Psychology at the University of East London: Position Statement on Anti-Racism and Decolonisation

This position paper aims to set out our understanding of important issues around “race” (racialisation), inequality and decolonisation in the context of our Professional Doctorate in Educational and Child Psychology at the University of East London (UEL). When we write about the programme this encompasses the wider tutor team, trainees and interns. The paper was written to crystallise our thinking and set out actions for change. The process of change is ongoing, and this position paper represents one step in our journey of decolonisation

The Físchlár digital video system: a digital library of broadcast TV programmes

Físchlár is a system for recording, indexing, browsing and playback of broadcast TV programmes which has been operational on our University campus for almost 18 months. In this paper we give a brief overview of how the system operates, how TV programmes are organised for browse/playback and a short report on the system usage by over 900 users in our University

Renormalization group aspects of the local composite operator method

We review the current status of the application of the local composite operator technique to the condensation of dimension two operators in quantum chromodynamics (QCD). We pay particular attention to the renormalization group aspects of the formalism and the renormalization of QCD in various gauges.Comment: 13 latex pages, talk presented at RG0

The three species monomer-monomer model in the reaction-controlled limit

We study the one dimensional three species monomer-monomer reaction model in the reaction controlled limit using mean-field theory and dynamic Monte Carlo simulations. The phase diagram consists of a reactive steady state bordered by three equivalent adsorbing phases where the surface is saturated with one monomer species. The transitions from the reactive phase are all continuous, while the transitions between adsorbing phases are first-order. Bicritical points occur where the reactive phase simultaneously meets two adsorbing phases. The transitions from the reactive to an adsorbing phase show directed percolation critical behaviour, while the universal behaviour at the bicritical points is in the even branching annihilating random walk class. The results are contrasted and compared to previous results for the adsorption-controlled limit of the same model.Comment: 12 pages using RevTeX, plus 4 postscript figures. Uses psfig.sty. accepted to Journal of Physics

Measurement of atmospheric nitrous acid at Blodgett Forest during BEARPEX2007

Nitrous acid (HONO) is an important precursor of the hydroxyl radical (OH) in the lower troposphere. Understanding HONO chemistry, particularly its sources and contribution to HO_x (=OH+HO_2) production, is very important for understanding atmospheric oxidation processes. A highly sensitive instrument for detecting atmospheric HONO based on wet chemistry followed by liquid waveguide long path absorption photometry was deployed in the Biosphere Effects on Aerosols and Photochemistry Experiment (BEARPEX) at Blodgett Forest, California in late summer 2007. The median diurnal variation shows minimum HONO levels of about 20–30 pptv during the day and maximum levels of about 60–70 pptv at night, a diurnal pattern quite different from the results at various other forested sites. Measured HONO/NO_2 ratios for a 24-h period ranged from 0.05 to 0.13 with a mean ratio of 0.07. Speciation of reactive nitrogen compounds (NO_y) indicates that HONO accounted for only ~3% of total NO_y. However, due to the fast HONO loss through photolysis, a strong HONO source (1.59 ppbv day^(−1)) existed in this environment in order to sustain the observed HONO levels, indicating the significant role of HONO in NO_y cycling. The wet chemistry HONO measurements were compared to the HONO measurements made with a Chemical Ionization Mass Spectrometer (CIMS) over a three-day period. Good agreement was obtained between the measurements from the two different techniques. Using the expansive suite of photochemical and meteorological measurements, the contribution of HONO photolysis to HO_x budget was calculated to be relatively small (6%) compared to results from other forested sites. The lower HONO mixing ratio and thus its smaller contribution to HO_x production are attributed to the unique meteorological conditions and low acid precipitation at Blodgett Forest. Further studies of HONO in this kind of environment are needed to test this hypothesis and to improve our understanding of atmospheric oxidation and nitrogen budget

Polysaccharide utilization loci and nutritional specialization in a dominant group of butyrate-producing human colonic Firmicutes

Acknowledgements The Rowett Institute of Nutrition and Health (University of Aberdeen) receives financial support from the Scottish Government Rural and Environmental Sciences and Analytical Services (RESAS). POS is a PhD student supported by the Scottish Government (RESAS) and the Science Foundation Ireland, through a centre award to the APC Microbiome Institute, Cork, Ireland. Data Summary The high-quality draft genomes generated in this work were deposited at the European Nucleotide Archive under the following accession numbers: 1. Eubacterium rectale T1-815; CVRQ01000001–CVRQ0100 0090: http://www.ebi.ac.uk/ena/data/view/PRJEB9320 2. Roseburia faecis M72/1; CVRR01000001–CVRR010001 01: http://www.ebi.ac.uk/ena/data/view/PRJEB9321 3. Roseburia inulinivorans L1-83; CVRS01000001–CVRS0 100 0151: http://www.ebi.ac.uk/ena/data/view/PRJEB9322Peer reviewedPublisher PD

Nonequilibrium Critical Dynamics of a Three Species Monomer-Monomer Model

We study a three species monomer-monomer catalytic surface reaction model with a reactive steady state bordered by three equivalent unreactive phases where the surface is saturated with one species. The transition from the reactive to a saturated phase shows directed percolation critical behavior. Each pair of these reactive-saturated phase boundaries join at a bicritical point where the universal behavior is in the even branching annihilating random walk class. We find the crossover exponent from bicritical to critical behavior and a new exponent associated with the bicritical interface dynamics.Comment: 4 pages RevTex. 4 eps figures included with psfig.sty. Uses multicol.sty. Accepted for publication in PR

Brokered Graph State Quantum Computing

We describe a procedure for graph state quantum computing that is tailored to fully exploit the physics of optically active multi-level systems. Leveraging ideas from the literature on distributed computation together with the recent work on probabilistic cluster state synthesis, our model assigns to each physical system two logical qubits: the broker and the client. Groups of brokers negotiate new graph state fragments via a probabilistic optical protocol. Completed fragments are mapped from broker to clients via a simple state transition and measurement. The clients, whose role is to store the nascent graph state long term, remain entirely insulated from failures during the brokerage. We describe an implementation in terms of NV-centres in diamond, where brokers and clients are very naturally embodied as electron and nuclear spins.Comment: 5 pages, 3 figure