The IT Revolution and the Stock Market.

A new technology or product is often developed by the single entrepreneur. Whether he reaches the initial public offering stage or is acquired by a listed firm, it takes time for the innovator to add value to the stock market. Indeed, the innovation may, at first, reduce the market's value because some firms--usually large or old--will cling to old technologies that have lost their momentum. This paper argues that (a) the market declined in the late 1960s because it felt that the old technologies either had lost their momentum or would give way to IT, and that (b) IT innovators boosted the stock market's value only in the 1980s. If the stock market provides a forecast of future events, then the recent dramatic upswing represents a rosy estimate about growth in future profits for the economy. This translates into a forecast of higher output and productivity growth, holding other things equal (such as capital's share of income).INFORMATION TECHNOLOGY ; STOCK MARKET

Measurement and Calculation of Absolute Single and Multiple Charge Exchange Cross Sections for Fe^(q+) Ions Impacting H_2O

Charge exchange (CE) plays a fundamental role in the collisions of solar- and stellar-wind ions with lunar and planetary exospheres, comets, and circumstellar clouds. Reported herein are absolute cross sections for single, double, triple, and quadruple CE of Fe^(q+) (q = 5-13) ions with H_2O at a collision energy of 7q keV. One measured value of the pentuple CE is also given for Fe^(9+) ions. An electron cyclotron resonance ion source is used to provide currents of the highly charged Fe ions. Absolute data are derived from knowledge of the target gas pressure, target path length, and incident and charge-exchanged ion currents. Experimental cross sections are compared with new results of the n-electron classical trajectory Monte Carlo approximation. The radiative and non-radiative cascades following electron transfers are approximated using scaled hydrogenic transition probabilities and scaled Auger rates. Also given are estimates of cross sections for single capture, and multiple capture followed by autoionization, as derived from the extended overbarrier model. These estimates are based on new theoretical calculations of the vertical ionization potentials of H_2O up to H_2O^(10+)

The IT Revolution and the Stock Market.

Technological progress comes in waves. The birth of information technology (IT) may herald the start of a Third Industrial Revolution. This paper argues that (a) the market declined in the late 1960s because it felt that the old technologies either had lost their momentum or would give way to IT, and that (b) IT innovators boosted the stock market's value only in the 1980s.STOCK MARKET ; INFORMATION ; TECHNOLOGY

The Diderot meteorite: The second chassignite

The Diderot meteorite is a dunite discovered in Sahara. The martian origin is unambiguous and Diderot shares strong petrographical similarities with Chassigny

Dry Friction due to Adsorbed Molecules

Using an adiabatic approximation method, which searches for Tomlinson model-like instabilities for a simple but still realistic model for two crystalline surfaces in the extremely light contact limit, with mobile molecules present at the interface, sliding relative to each other, we are able to account for the virtually universal occurrence of "dry friction." The model makes important predictions for the dependence of friction on the strength of the interaction of each surface with the mobile molecules.Comment: four pages of latex, figure provide

The effects of dust evolution on disks in the mid-IR

In this paper, we couple together the dust evolution code two-pop-py with the thermochemical disk modelling code ProDiMo. We create a series of thermochemical disk models that simulate the evolution of dust over time from 0.018 Myr to 10 Myr, including the radial drift, growth, and settling of dust grains. We examine the effects of this dust evolution on the mid-infrared gas emission, focussing on the mid-infrared spectral lines of C2H2, CO2, HCN, NH3, OH, and H2O that are readily observable with Spitzer and the upcoming E-ELT and JWST. The addition of dust evolution acts to increase line fluxes by reducing the population of small dust grains. We find that the spectral lines of all species except C2H2 respond strongly to dust evolution, with line fluxes increasing by more than an order of magnitude across the model series as the density of small dust grains decreases over time. The C2H2 line fluxes are extremely low due to a lack of abundance in the infrared line-emitting regions, despite C2H2 being commonly detected with Spitzer, suggesting that warm chemistry in the inner disk may need further investigation. Finally, we find that the CO2 flux densities increase more rapidly than the other species as the dust disk evolves. This suggests that the flux ratios of CO2 to other species may be lower in disks with less-evolved dust populations.Comment: 13 pages, 9 figures, accepted in A&

Rubber friction: role of the flash temperature

When a rubber block is sliding on a hard rough substrate, the substrate asperities will exert time-dependent deformations of the rubber surface resulting in viscoelastic energy dissipation in the rubber, which gives a contribution to the sliding friction. Most surfaces of solids have roughness on many different length scales, and when calculating the friction force it is necessary to include the viscoelastic deformations on all length scales. The energy dissipation will result in local heating of the rubber. Since the viscoelastic properties of rubber-like materials are extremely strongly temperature dependent, it is necessary to include the local temperature increase in the analysis. At very low sliding velocity the temperature increase is negligible because of heat diffusion, but already for velocities of order 0.01 m/s the local heating may be very important. Here I study the influence of the local heating on the rubber friction, and I show that in a typical case the temperature increase results in a decrease in rubber friction with increasing sliding velocity for v > 0.01 m/s. This may result in stick-slip instabilities, and is of crucial importance in many practical applications, e.g., for the tire-road friction, and in particular for ABS-breaking systems.Comment: 22 pages, 27 figure

A novel method of supplying nutrients permits predictable shoot growth and root: shoot ratios of pre-transplant bedding plants

BACKGROUND AND AIMS: Growth of bedding plants, in small peat plugs, relies on nutrients in the irrigation solution. The object of the study was to find a way of modifying the nutrient supply so that good-quality seedlings can be grown rapidly and yet have the high root : shoot ratios essential for efficient transplanting. METHODS: A new procedure was devised in which the concentrations of nutrients in the irrigation solution were modified during growth according to changing plant demand, instead of maintaining the same concentrations throughout growth. The new procedure depends on published algorithms for the dependence of growth rate and optimal plant nutrient concentrations on shoot dry weight Ws (g m–2), and on measuring evapotranspiration rates and shoot dry weights at weekly intervals. Pansy, Viola tricola ‘Universal plus yellow’ and petunia, Petunia hybrida ‘Multiflora light salmon vein’ were grown in four independent experiments with the expected optimum nutrient concentration and fractions of the optimum. Root and shoot weights were measured during growth. KEY RESULTS: For each level of nutrient supply Ws increased with time (t) in days, according to the equation {Delta}Ws/{Delta}t=K2Ws/(100+Ws) in which the growth rate coefficient (K2) remained approximately constant throughout growth. The value of K2 for the optimum treatment was defined by incoming radiation and temperature. The value of K2 for each sub-optimum treatment relative to that for the optimum treatment was logarithmically related to the sub-optimal nutrient supply. Provided the aerial environment was optimal, Rsb/Ro{approx}Wo/Wsb where R is the root : shoot ratio, W is the shoot dry weight, and sb and o indicate sub-optimum and optimum nutrient supplies, respectively. Sub-optimal nutrient concentrations also depressed shoot growth without appreciably affecting root growth when the aerial environment was non-limiting. CONCLUSION: The new procedure can predict the effects of nutrient supply, incoming radiation and temperature on the time course of shoot growth and the root : shoot ratio for a range of growing conditions

Static Versus Dynamic Friction: The Role of Coherence

A simple model for solid friction is analyzed. It is based on tangential springs representing interlocked asperities of the surfaces in contact. Each spring is given a maximal strain according to a probability distribution. At their maximal strain the springs break irreversibly. Initially all springs are assumed to have zero strain, because at static contact local elastic stresses are expected to relax. Relative tangential motion of the two solids leads to a loss of coherence of the initial state: The springs get out of phase due to differences in their sizes. This mechanism alone is shown to lead to a difference between static and dynamic friction forces already. We find that in this case the ratio of the static and dynamic coefficients decreases with increasing relative width of the probability distribution, and has a lower bound of 1 and an upper bound of 2.Comment: 10 pages, 2 figures, revtex