Risk Premiums and the Storage of Agricultural Commodities

The existence of a commodity market risk premium has attracted the interest of researchers for several decades. Most attempts to measure risk premiums have been focused on futures markets. However, if the risk premium is a payment made by hedgers (as suggested by Keynes) to reduce their risk profile, then the risk being reduced originates in the cash market. This suggests that the risk premium may also originate in the cash market. As such, the search for a risk premium should focus on the cash market, and, given Working's Supply of Storage Curve, should be measured as a function of stored inventory. This paper develops an expected utility based model that separates the risk premium from other storage incentives, and illustrates the role of the cash market risk premium on the storage decisions of two different market agents.

Mass spectra of Zc and Zb exotic states as hadron molecules

We construct charmonium-like and bottomonium-like molecular interpolating currents with quantum numbers J(PC)=1(+-) in a systematic way, including both color singlet-singlet and color octet-octet structures. Using these interpolating currents, we calculate two-point correlation functions and perform QCD sum rule analyses to obtain mass spectra of the charmonium-like and bottomonium-like molecular states. Masses of the charmonium-like q_bar c c_bar q molecular states for these various currents are extracted in the range 3.85-4.22 GeV, which are in good agreement with observed masses of the Zc resonances. Our numerical results suggest a possible landscape of hadronic molecule interpretations of the newly-observed Zc states. Mass spectra of the bottomonium-like q_bar b b_bar q molecular states are similarly obtained in the range 9.92-10.48 GeV, which support the interpretation of the Zb(10610) meson as a molecular state within theoretical uncertainties. Possible decay channels of these molecular states are also discussed.Comment: 15 pages, 3 figures, 2 tables, accepted by PR

Magnetic influence on the frequency of the soft-phonon mode in the incipient ferroelectric EuTiO3

The dielectric constant of the incipient ferroelectric EuTiO$_3$ exhibits a sharp decrease at about 5.5K, at which temperature antiferromagnetic ordering of the Eu spins simultaneously appears, indicating coupling between the magnetism and dielectric properties. This may be attributed to the modification of the soft-phonon mode, $T_{1\mu}$, which is the main contribution to the large dielectric constant, by the Eu spins(7$\mu_B$ per Eu). By adding the coupling term between the magnetic and electrical subsystems as $-g\sum\limits_l {\sum\limits_{< {i,j}} {q_l^2}} \overrightarrow {S_i} \cdot \overrightarrow {S_j}$ we show that the variation of the frequency of soft-phonon mode depends on the spin correlation between the nearest neighbors Eu spins and is substantially changed under a magnetic field.Comment: 13 pages, 4 figure

Variational Monte-Carlo studies of Gossamer Superconductivity

We use a partially Gutzwiller projected BCS d-wave wavefunction with an antiferromagentic weighting factor to study the ground state phase diagram of a half filled Hubbard-Heisenberg model in a square lattice with nearest neighbor hopping $t$ and a diagonal hopping $t'$. The calculations are carried out by using variational Monte Carlo method which treats the Gutzwiller projection explicitly. At large on-site Coulomb interaction $U$, the ground state is antiferromagnetic. As $U$ decreases, the ground state becomes superconducting and eventually metallic. The phase diagram is obtained by extensive calculations. As compared to the strong effect of $U/t$, the phase boundaries turn out to be less sensitive to $t'/t$. The result is consistent with the phase diagram in layered organic conductors, and is compared to the earlier mean field result based on the Gutzwiller approximation.Comment: 5 pages, 4 figure

Doubly hidden-charm/bottom QQQˉQˉQQ\bar Q\bar Q tetraquark states

We study the mass spectra for the $cc\bar c\bar c$ and $bb\bar b\bar b$ tetraquark states by developing a moment sum rule method. Our results show that the $bb\bar b\bar b$ tetraquarks lie below the threshold of $\eta_b(1S)\eta_b(1S)$. They are probably stable and very narrow. The masses for the doubly hidden-charm states $cc\bar c\bar c$ are higher than the spontaneous dissociation thresholds of two charmonium mesons. We suggest to search for such states in the $J/\psi J/\psi$ and $\eta_c(1S)\eta_c(1S)$ channels.Comment: 8 pages, 2 figures. More references added. Conference proceedings for 6th International Conference on New Frontiers in Physics (ICNFP 2017), Crete, Greece, 17-29 Aug, 201

Origin of the X-ray Quasi-Periodic Oscillations and Identification of a Transient Ultraluminous X-Ray Source in M82

The starburst galaxy M82 contains two ultraluminous X-ray sources (ULXs), CXOM82 J095550.2+694047 (=X41.4+60) and CXOM82 J095551.1+694045 (=X42.3+59), which are unresolved by XMM-Newton. We revisited the two XMM-Newton observations of M82 and analyzed the surface brightness profiles using the known Chandra source positions. We show that the quasi-periodic oscillations (QPOs) detected with XMM-Newton originate from X41.4+60, the brightest X-ray source in M82. Correcting for the contributions of the unresolved sources, the QPO at a frequency of 55.8+/-1.3 mHz on 2001 May 06 had a fractional rms amplitude of 32%, and the QPO at 112.9+/-1.3 mHz on 2004 April 21 had an amplitude of 21%. The QPO frequency may possibly be correlated with the source flux, similar to the type C QPOs in XTE 1550-564 and GRS 1915+105, but at luminosities two orders of magnitude higher. X42.3+59, the second brightest source in M82, displayed a strikingly high flux of 1.4E-11 ergs/cm^2/s in the 2-10 keV band on 2001 May 6. A seven-year light curve of X42.3+59 shows extreme variability over a factor of 1000; the source is not detected in several Chandra observations. This transient behavior suggests accretion from an unstable disk. If the companion star is massive, as might be expected in the young stellar environment, then the compact object would likely be an IMBH.Comment: 9 pages, 6 figures, submitted to ApJ on May 08, 200

Open-flavor charmed/bottom sqqˉQˉsq\bar q\bar Q and qqqˉQˉqq\bar q\bar Q tetraquark states

We provide comprehensive investigations for the mass spectrum of exotic open-flavor charmed/bottom $sq\bar q\bar c$, $qq\bar q\bar c$, $sq\bar q\bar b$, $qq\bar q\bar b$ tetraquark states with various spin-parity assignments $J^P=0^+, 1^+, 2^+$ and $0^-, 1^-$ in the framework of QCD sum rules. In the diquark configuration, we construct the diquark-antidiquark interpolating tetraquark currents using the color-antisymmetric scalar and axial-vector diquark fields. The stable mass sum rules are established in reasonable parameter working ranges, which are used to give reliable mass predictions for these tetraquark states. We obtain the mass spectra for the open-flavor charmed/bottom $sq\bar q\bar c$, $qq\bar q\bar c$, $sq\bar q\bar b$, $qq\bar q\bar b$ tetraquark states with various spin-parity quantum numbers. In addition, we suggest searching for exotic doubly-charged tetraquarks, such as $[sd][\bar u\bar c]\to D_s^{(\ast)-}\pi^-$ in future experiments at facilities such as BESIII, BelleII, PANDA, LHCb and CMS, etc.Comment: 19 pages, 4 figures, 5 tables, accepted by Phys. Rev. D (in press