Is there a "Right" Time to Buy Options Pre-Harvest?

This study analyses the variables that affect the option premium levels in an attempt to identify a period in time that would be considered "preferred" for the purchase of a December put option contract for corn and cotton. The daily futures and options data from January 1990 to October 2005 revealed that average prices of December cotton and corn futures tended to be higher in the month of March. The early months of the year also demonstrated low implied volatility levels while offering larger time to maturity. The analysis suggests that March may be a preferred time to purchase December cotton and corn put options.Marketing,

Tidally-Triggered Star Formation in Close Pairs of Galaxies

We analyze new optical spectra of a sample of 502 galaxies in close pairs and n-tuples, separated by <= 50/h kpc. We extracted the sample objectively from the CfA2 redshift survey, without regard to the surroundings of the tight systems. We probe the relationship between star formation and the dynamics of the systems of galaxies. The equivalent widths of H\alpha (EW(H\alpha) and other emission lines anti-correlate strongly with pair spatial separation (\Delta D) and velocity separation. We use the measured EW(H\alpha) and the starburst models of Leitherer et al. to estimate the time since the most recent burst of star for- mation began for each galaxy. In the absence of a large contribution from an old stellar population to the continuum around H\alpha, the observed \Delta D -- EW(H\alpha) correlation signifies that starbursts with larger separations on the sky are, on average, older. By matching the dynamical timescale to the burst timescale, we show that the data support a simple picture in which a close pass initiates a starburst; EW(H\alpha) decreases with time as the pair separation increases, accounting for the anti-correlation. This picture leads to a method for measuring the duration and the initial mass function of interaction-induced starbursts: our data are compatible with the starburst and orbit models in many respects, as long as the starburst lasts longer than \sim10^8 years and the delay between the close pass and the initiation of the starburst is less than a few \times 10^7 years. If there is no large contribution from an old stellar population to the continuum around H\alpha the Miller-Scalo and cutoff (M <= 30 M_\sun) Salpeter initial mass functions fit the data much better than a standard Salpeter IMF. (Abridged.)Comment: 43 pages, 22 figures, to appear in the ApJ; we correct an error which had minor effects on numerical values in the pape

Allocation of Advertisement Extensions & Formats

This document describes a process of optimizing the selection of a budget-constrained advertiser\u27s formats when allocating the budget of a budget-constrained advertiser. Such optimization is performed by selectively choosing which formats to allocate to this advertiser based on the advertiser\u27s budget. In particular, this document describes allocating formats to budget-constrained advertisers in advertising auctions to create value for the advertisers and an advertiser manager

Relativistic Effects in the Electromagnetic Current at GeV Energies

We employ a recent approach to the non-relativistic reduction of the electromagnetic current operator in calculations of electronuclear reactions. In contrast to the traditional scheme, where approximations are made for the transferred momentum, transferred energy and initial momentum of the struck nucleon in obtaining an on-shell inspired form for the current, we treat the problem exactly for the transferred energy and transferred momentum. We calculate response functions for the reaction $^2H(e,e'p)n$ at CEBAF (TJNAF) energies and find large relativistic corrections. We also show that in Plane Wave Impulse Approximation, it is always possible to use the full operator, and we present a comparison of such a limiting case with the results incorporating relativistic effects to the first order in the initial momentum of the struck nucleon.Comment: 31 pages, 8 figures, Revte

Avoiding or restricting defectors in public goods games?

When creating a public good, strategies or mechanisms are required to handle defectors. We first show mathematically and numerically that prior agreements with posterior compensations provide a strategic solution that leads to substantial levels of cooperation in the context of public goods games, results that are corroborated by available experimental data. Notwithstanding this success, one cannot, as with other approaches, fully exclude the presence of defectors, raising the question of how they can be dealt with to avoid the demise of the common good. We show that both avoiding creation of the common good, whenever full agreement is not reached, and limiting the benefit that disagreeing defectors can acquire, using costly restriction mechanisms, are relevant choices. Nonetheless, restriction mechanisms are found the more favourable, especially in larger group interactions. Given decreasing restriction costs, introducing restraining measures to cope with public goods free-riding issues is the ultimate advantageous solution for all participants, rather than avoiding its creation.SCOPUS: ar.jinfo:eu-repo/semantics/publishe

Mass and Angular Momentum Transfer in the Massive Algol Binary RY Persei

We present an investigation of H-alpha emission line variations observed in the massive Algol binary, RY Per. We give new radial velocity data for the secondary based upon our optical spectra and for the primary based upon high dispersion UV spectra. We present revised orbital elements and an estimate of the primary's projected rotational velocity (which indicates that the primary is rotating 7 times faster than synchronous). We use a Doppler tomography algorithm to reconstruct the individual primary and secondary spectra in the region of H-alpha, and we subtract the latter from each of our observations to obtain profiles of the primary and its disk alone. Our H-alpha observations of RY Per show that the mass gaining primary is surrounded by a persistent but time variable accretion disk. The profile that is observed outside-of-eclipse has weak, double-peaked emission flanking a deep central absorption, and we find that these properties can be reproduced by a disk model that includes the absorption of photospheric light by the band of the disk seen in projection against the face of the star. We developed a new method to reconstruct the disk surface density distribution from the ensemble of H-alpha profiles observed around the orbit, and this method accounts for the effects of disk occultation by the stellar components, the obscuration of the primary by the disk, and flux contributions from optically thick disk elements. The resulting surface density distribution is elongated along the axis joining the stars, in the same way as seen in hydrodynamical simulations of gas flows that strike the mass gainer near trailing edge of the star. This type of gas stream configuration is optimal for the transfer of angular momentum, and we show that rapid rotation is found in other Algols that have passed through a similar stage.Comment: 39 pages, 12 figures, ApJ in press, 2004 June 20 issu

BASINS/HSPF: Model use, calibration, and validation

ABSTRACT. This article presents recommendations by model developers and the authors about calibration and validation procedures for the Hydrological Simulatio

Origin of Relativistic Effects in the Reaction D(e,e'p)n at GeV Energies

In a series of recent publications, a new approach to the non-relativistic reduction of the electromagnetic current operator in calculations of electro-nuclear reactions has been introduced. In one of these papers, the conjecture that at energies of a few GeV, the bulk of the relativistic effects comes from the current and not from the nuclear dynamics was made, based on the large relativistic effects in the transverse-longitudinal response. Here, we explicitly compare a fully relativistic, manifestly covariant calculation performed with the Gross equation, with a calculation that uses a non-relativistic wave function and a fully relativistic current operator. We find very good agreement up to missing momenta of 400 MeV/c, thus confirming the previous conjecture. We discuss slight deviations in cross sections for higher missing momenta and their possible origin, namely p-wave contributions and off-shell effects.Comment: 25 pages, 11 figure

Relativistic Contributions to Deuteron Photodisintegration in the Bethe-Salpeter Formalism

In plane wave one-body approximation the reaction of deuteron photodisintegration is considered in the framework of the Bethe-Salpeter formalism for two-nucleon system. Results are obtained for deuteron vertex function, which is the solution of the homogeneous Bethe-Salpeter equation with a multi-rank separable interaction kernel, with a given analytical form. A comparison is presented with predictions of non-relativistic, quasipotential approaches and the equal time approximation. It is shown that important contributions come from the boost in the arguments of the initial state vertex function and the boost on the relative energy in the one-particle propagator due to recoil.Comment: 29 pages, 6 figure