A simple model of price formation

A simple Ising spin model which can describe the mechanism of price formation in financial markets is proposed. In contrast to other agent-based models, the influence does not flow inward from the surrounding neighbors to the center site, but spreads outward from the center to the neighbors. The model thus describes the spread of opinions among traders. It is shown via standard Monte Carlo simulations that very simple rules lead to dynamics that duplicate those of asset prices.Comment: Version 2: 4 pages, 4 figures; added more stringent statistical analysis; to appear in Int. J. Modern Physics C, Vol. 13, No. 1 (2002

Stochastic models which separate fractal dimension and Hurst effect

Fractal behavior and long-range dependence have been observed in an astonishing number of physical systems. Either phenomenon has been modeled by self-similar random functions, thereby implying a linear relationship between fractal dimension, a measure of roughness, and Hurst coefficient, a measure of long-memory dependence. This letter introduces simple stochastic models which allow for any combination of fractal dimension and Hurst exponent. We synthesize images from these models, with arbitrary fractal properties and power-law correlations, and propose a test for self-similarity.Comment: 8 pages, 2 figure

Analogue modeling of instabilities in crater lake hydrothermal systems.

International audienceWe carried out analogue experiments on two-phase boiling systems, using a porous vertical cylinder, saturated with water. The base of the cylinder was heated, and the top was cooled, as in a natural hydrothermal system. Previous work had shown that once the two-phase zone reached a certain level, thermal instabilities would develop. We made measurements of the acoustic energy related to boiling, and we found that high levels of acoustic noise were associated with the part of the cycle in which there was upward water movement. We repeated our experiments with a cooling water tank at the top of the system, representing a crater lake. This showed that periodic thermal instabilities still developed in this situation. We then compared our analogue measurements to two natural systems known to exhibit periodic behavior. There is good agreement between the thermal and acoustic cycling seen in our model and the observations made at Inferno Crater Lake in the Waimangu Geothermal area, New Zealand, whose level cycles by nearly 10 m, with a typical period of 38 days. Particularly notable is how in both systems high levels of acoustic noise are associated with rising water level. The much larger Ruapehu Crater Lake, also in New Zealand, cycled with a period of several months to a year for over a decade prior to the 1995 eruption. Strong acoustic and seismic energy usually occurred just before the lake temperature started to rise. This suggests a slightly different model, in which the increasing two-phase flow zone triggers more general convection once it reaches the base of the lake

Close contacts of xenograft recipients: Ethical considerations due to risk of xenozoonosis

With decades of pre-clinical studies culminating in the recent clinical application of xenotransplantation, it would appear timely to provide recommendations for operationalizing oversight of xenotransplantation clinical trials. Ethical issues with clinical xenotransplantation have been described for decades, largely centering on animal welfare, the risks posed to the recipient, and public health risks posed by potential spread of xenozoonosis. Much less attention has been given to considerations relating to potentially elevated risks faced by those who may care for or otherwise have close contact with xenograft recipients. This paper examines the ethical and logistical issues raised by the potential exposure to xenozoonotic disease faced by close contacts of xenotransplant recipients—defined herein as including but not limited to caregivers, household contacts, and sexual partners— which warrants special attention given their increased risk of exposure to infection compared to the general public. We discuss implications of assent or consent by these close contacts to potentially undergo, along with the recipient, procedures for infection screening and possible quarantine. We then propose several options and recommendations for operationalizing oversight of xenotransplantation clinical trials that could account for and address close contacts’ education on and agency regarding the risk of xenozoonosis

Electron-induced massive dynamics of magnetic domain walls

We study the dynamics of domain walls (DWs) in a metallic, ferromagnetic nanowire. We develop a Keldysh collective coordinate technique to describe the effect of conduction electrons on rigid magnetic structures. The effective Lagrangian and Langevin equations of motion for a DW are derived. The DW dynamics is described by two collective degrees of freedom: position and tilt-angle. The coupled Langevin equations therefore involve two correlated noise sources, leading to a generalized fluctuation-dissipation theorem (FDT). The DW response kernel due to electrons contains two parts: one related to dissipation via FDT, and another `inertial\u27 part. We prove that the latter term leads to a mass for both degrees of freedom, even though the intrinsic bare mass is zero. The electron-induced mass is present even in a clean system without pinning or specifically engineered potentials. The resulting equations of motion contain rich dynamical solutions and point toward a new way to control domain wall motion in metals via the electronic system properties. We discuss two observable co nsequences of the mass, hysteresis in the DW dynamics and resonant response to ac current

The magnitude of translational and rotational head accelerations experienced by riders during downhill mountain biking

Objectives To determine the magnitude of translational and rotational head accelerations during downhill mountain biking. Design Observational study Methods Sixteen male downhill cyclists (age 26.4 ± 8.4 years; stature 179.4 ± 7.2 cm; mass 75.3 ± 5.9 kg) were monitored during two rounds of the British Downhill Series. Riders performed two runs on each course wearing a triaxial accelerometer behind the right ear. The means of the two runs for each course were used to determine differences between courses for mean and maximum peak translational (g) and rotational accelerations (rads/s2) and impact duration for each course. Results Significant differences (p 10 g), FW = 12.5 ± 7.6, RYF = 42.8 ± 27.4 (t(22.96) = -4.70; p < 0.001; 95 % CI = 17.00 to 43.64); maximum peak rotational acceleration, FW = 6805.4 ± 3073.8 rads/s2, RYF = 9799.9 ± 3381.7 rads/s2 (t(32) = -2.636; p = 0.01; 95 % CI = 680.31 to 5308.38); mean acceleration duration FW = 4.7 ± 1.2 ms, RYF = 6.5 ± 1.4 ms (t(32) = -4.05; p < 0.001; 95 % CI = 0.91 to 2.76) and maximum acceleration duration, FW = 11.6 ± 4.5 ms, RYF = 21.2 ± 9.1 (t(29.51) = -4.06; p = 0.001; 95 % CI = 4.21 to 14.94). No other significant differences were found. Conclusions Findings indicate that downhill riders may be at risk of sustaining traumatic brain injuries and course design influences the number and magnitude of accelerations

An antagonist of the retinoid X receptor reduces the viability of Trichuris muris in vitro.

Background Trichuriasis is a parasitic disease caused by the human whipworm, Trichuris trichiura. It affects millions worldwide, particularly in the tropics. This nematode parasite burrows into the colonic epithelium resulting in inflammation and morbidity, especially in children. Current treatment relies mainly on general anthelmintics such as mebendazole but resistance to these drugs is increasingly problematic. Therefore, new treatments are urgently required. Methods The prospect of using the retinoid X receptor (RXR) antagonist HX531 as a novel anthelmintic was investigated by carrying out multiple viability assays with the mouse whipworm Trichuris muris. Results HX531 reduced both the motility and viability of T. muris at its L3, L4 and adult stages. Further, bioinformatic analyses show that the T. muris genome possesses an RXR-like receptor, a possible target for HX531. Conclusions The study suggested that Trichuris-specific RXR antagonists may be a source of much-needed novel anthelmintic candidates for the treatment of trichuriasis. The identification of an RXR-like sequence in the T. muris genome also paves the way for further research based on this new anthelmintic lead compound