Quantifying Stock Price Response to Demand Fluctuations

We address the question of how stock prices respond to changes in demand. We quantify the relations between price change $G$ over a time interval $\Delta t$ and two different measures of demand fluctuations: (a) $\Phi$, defined as the difference between the number of buyer-initiated and seller-initiated trades, and (b) $\Omega$, defined as the difference in number of shares traded in buyer and seller initiated trades. We find that the conditional expectations $<G >_{\Omega}$ and $_{\Phi}$ of price change for a given $\Omega$ or $\Phi$ are both concave. We find that large price fluctuations occur when demand is very small --- a fact which is reminiscent of large fluctuations that occur at critical points in spin systems, where the divergent nature of the response function leads to large fluctuations.Comment: 4 pages (multicol fomat, revtex

Coulomb Correlations and Pseudo-gap Effects in a Pre-formed Pair Model for the Cuprates

We extend previous work on pre-formed pair models of superconductivity to incorporate Coulomb correlation effects. For neutral systems, these models have provided a useful scheme which interpolates between BCS and Bose Einstein condensation with increasing coupling and thereby describes some aspects of pseudo-gap phenomena. However, charge fluctuations (via the plasmon, $\omega_p$) significantly modify the collective modes and therefore the interpolation behavior. We discuss the resulting behavior of the pseudo-gap and thermodynamic quantities such as $T_c$, $\chi$ and $C_v$ as a function of $\omega_p$.Comment: 4 pages RevTeX, 3 ps figures included (Submitted to Physical Review B August 27, 1996

Electron-hole correlation effects in the emission of light from quantum wires

We present a self-consistent treatment of the electron-hole correlations in optically excited quantum wires within the ladder approximation, and using a contact potential interaction. The limitations of the ladder approximation to the excitonic low-density region are largely overcome by the introduction of higher order correlations through self consistency. We show relevance of these correlations in the low-temperature emission, even for high density relevant in lasing, when large gain replaces excitonic absorption.Comment: 4 paes 3 figure

Signature of Quantum Hall Effect Skyrmions in Tunneling: A Theoretical Study

We present a theoretical study of the $I-V$ tunneling characteristic between two parallel two-dimensional electron gases in a perpendicular magnetic field when both are near filling factor $\nu=1$. Finite-size calculations of the single-layer spectral functions in the spherical geometry and analytical expressions for the disk geometry in the thermodynamic limit show that the current in the presence of skyrmions reflects in a direct way their underlying structure. It is also shown that fingerprints of the electron-electron interaction pseudopotentials are present in such a current.Comment: 4 pages, 1 figur

Role of bound pairs in the optical properties of highly excited semiconductors: a self consistent ladder approximation approach

Presence of bound pairs (excitons) in a low-temperature electron-hole plasma is accounted for by including correlation between fermions at the ladder level. Using a simplified one-dimensional model with on-site Coulomb interaction, we calculate the one-particle self-energies, chemical potential, and optical response. The results are compared to those obtained in the Born approximation, which does not account for bound pairs. In the self-consistent ladder approximation the self-energy and spectral function show a characteristic correlation peak at the exciton energy for low temperature and density. In this regime the Born approximation overestimates the chemical potential. Provided the appropriate vertex correction in the interaction with the photon is included, both ladder and Born approximations reproduce the excitonic and free pair optical absorption at low density, and the disappearance of the exciton absorption peak at larger density. However, lineshapes and energy shifts with density of the absorption and photoluminescence peaks are drastically different. In particular, the photoluminescence emission peak is much more stable in the ladder approximation. At low temperature and density a sizeable optical gain is produced in both approximations just below the excitonic peak, however this gain shows unphysical features in the Born approximation. We conclude that at low density and temperature it is fundamental to take into account the existence of bound pairs in the electron-hole plasma for the calculation of its optical and thermodynamic properties. Other approximations that fail to do so are intrinsically unphysical in this regime, and for example are not suitable to address the problem of excitonic lasing.Comment: 14 pages, 12 figure

Religion and health care in east africa: Lessons from uganda, mozambique and ethiopia

What social factors contribute to the tragic state of health care in Africa? Focusing on East African societies, this book is the first to investigate what role religion plays in health care in African cultures. Taking into account the geopolitical and economic environments of the region, the authors examine the roles played by individual and group beliefs, government policies, and pressure from the Millennium Development Goals in affecting health outcomes. Informed by existing related studies, and on-the-ground interviews with individuals and organizations in Uganda, Mozambique and Ethiopia, this interdisciplinary book will form an invaluable resource for scholars seeking to better understand the links between society, multi-level state instruments, and health care in East Africa