A Relationship Between Regression Tests and Volatility Tests of Market ncy

Volatility tests are an alternative to regression tests for evaluating the joint null hypothesis of market efficiency and risk neutrality. Acomparison of the power of the two kinds of tests depends on what the alternative hypothesis is taken to be. By considering tests based on conditional volatility bounds, we show that if the alternative is that one could"beat the market" using a linear combination of known variables, then the regression tests are at least as powerful as the conditional volatility tests.If the application is to spot and forward markets, then the most powerful conditional volatility test turns out to be equivalent to the analogous regression test in terms of asymptotic power. In other applications,the volatility test will be less powerful than regression tests against our chosen alternative. However, these results are not inconsistent with the observation that volatility tests may be more powerful against other alternative hypoth-eses, such as that risk-averse investors are rationally maximizing the present discounted utility of future consumption,with a time-varying discount rate.

Civilizations' Origin: A Thought Connection Between Thomas Paine and Jane Addams

As a result of ideological opposition or the reduction of his writing to mere propaganda, the legacy of Thomas Paine within mainstream political theory has remained largely unexplored. Never a friend to the elite or powerful, Paine’s torch was carried by the common men, trade unionists and socialists, who found in him a kindred spirit. While his reputation and character have been restored in recent decades, scholars still do not assign his legacy enough value. One avenue of investigation that is not present in the literature is a connection to sociologist Jane Addams, who served as an honorary vice president for the Thomas Paine Monument Association. In particular, Addams’ political anthropology bears a number of distinct similarities to that of Thomas Paine, and she applied many of these views through her work at Hull House. Beyond the purely historical connections, these similarities in their respective political anthropologies can also be revealed through thorough examination of both thinkers’ accounts of pre-civilization (or the state of nature), the rise of civilization, and how civilization ought to be treated normatively. In this thesis, based on the above revelations, I find that Thomas Paine was a discernible influence upon the political anthropology of Jane Addams

Effect of vacuum on materials

High vacuum effects on materials for use in space environment

Large Eddy Simulations (LES) and Direct Numerical Simulations (DNS) for the computational analyses of high speed reacting flows

The principal objective is to extend the boundaries within which large eddy simulations (LES) and direct numerical simulations (DNS) can be applied in computational analyses of high speed reacting flows. A summary of work accomplished during the last six months is presented

PANSATZ: Pulse-based Ansatz for Variational Quantum Algorithms

We develop and implement a novel pulse-based ansatz, which we call PANSATZ, for more efficient and accurate implementations of variational quantum algorithms (VQAs) on today's noisy intermediate-scale quantum (NISQ) computers. Our approach is applied to quantum chemistry. Specifically, finding the ground-state energy associated with the electron configuration problem, using the variational quantum eigensolver (VQE) algorithm for several molecules. We manage to achieve chemical accuracy both in simulation for several molecules and on one of IBM's NISQ devices for the $H_2$ molecule in the STO-3G basis. Our results are compared to a gate-based ansatz and show significant latency reduction - up to $7\times$ shorter ansatz schedules. We also show that this ansatz has structured adaptivity to the entanglement level required by the problem

Large eddy simulations and direct numerical simulations of high speed turbulent reacting flows

The primary objective of this research is to extend current capabilities of Large Eddy Simulations (LES) and Direct Numerical Simulations (DNS) for the computational analyses of high speed reacting flows. Our efforts in the first two years of this research have been concentrated on a priori investigations of single-point Probability Density Function (PDF) methods for providing subgrid closures in reacting turbulent flows. In the efforts initiated in the third year, our primary focus has been on performing actual LES by means of PDF methods. The approach is based on assumed PDF methods and we have performed extensive analysis of turbulent reacting flows by means of LES. This includes simulations of both three-dimensional (3D) isotropic compressible flows and two-dimensional reacting planar mixing layers. In addition to these LES analyses, some work is in progress to assess the extent of validity of our assumed PDF methods. This assessment is done by making detailed companions with recent laboratory data in predicting the rate of reactant conversion in parallel reacting shear flows. This report provides a summary of our achievements for the first six months of the third year of this program