Arbitrage-free SVI volatility surfaces

In this article, we show how to calibrate the widely-used SVI parameterization of the implied volatility surface in such a way as to guarantee the absence of static arbitrage. In particular, we exhibit a large class of arbitrage-free SVI volatility surfaces with a simple closed-form representation. We demonstrate the high quality of typical SVI fits with a numerical example using recent SPX options data.Comment: 25 pages, 6 figures Corrected some typos. Extended bibliography. Paper restructured, Main theorem (Theorem 4.1) improved. Proof of Theorem 4.3 amende

Observation of metastable hcp solid helium

We have produced and observed metastable solid helium-4 below its melting pressure between 1.1 K and 1.4 K. This is achieved by an intense pressure wave carefully focused inside a crystal of known orientation. An accurate density map of the focal zone is provided by an optical interferometric technique. Depending on the sample, minimum density achieved at focus corresponds to pressures between 2 and 4 bar below the static melting pressure. Beyond, the crystal undergoes an unexpected instability much earlier than the predicted spinodal limit. This opens a novel opportunity to study this quantum crystal in an expanded metastable state and its stability limits.Comment: deuxi\`eme versio

Interaction of yeast eIF4G with spliceosome components Implications in pre-mRNA processing events

International audienceAs evidenced from mammalian cells the eukaryotic translation initiation factor eIF4G has a putative role in nuclear RNA metabolism. Here we investigate whether this role is conserved in the yeast Saccharomyces cerevisiae. Using a combination of in vitro and in vivo methods, we show that, similar to mammalian eIF4G, yeast eIF4G homologues, Tif4631p and Tif4632p, are present both in the nucleus and the cytoplasm. We show that both eIF4G proteins interact efficiently in vitro with UsnRNP components of the splicing machinery. More specifically, Tif4631p and Tif4632p interact efficiently with U1 snRNA in vitro. In addition, Tif4631p and Tif4632p associate with protein components of the splicing machinery, namely Snu71p and Prp11p. To further delineate these interactions, we map the regions of Tif4631p and Tif4632p that are important for the interaction with Prp11p and Snu71p and we show that addition of these regions to splicing reactions in vitro has a dominant inhibitory effect. The observed interactions implicate eIF4G in aspects of pre-mRNA processing. In support of this hypothesis, deletion of one of the eIF4G isoforms results in accumulation of un-spliced precursors for a number of endogenous genes, in vivo. In conclusion these observations are suggestive of the involvement of yeast eIF4G in pre-mRNA metabolism

Are Rapid Population Estimates Accurate? A Field Trial of Two Different Assessment Methods.

Emergencies resulting in large-scale displacement often lead to populations resettling in areas where basic health services and sanitation are unavailable. To plan relief-related activities quickly, rapid population size estimates are needed. The currently recommended Quadrat method estimates total population by extrapolating the average population size living in square blocks of known area to the total site surface. An alternative approach, the T-Square, provides a population estimate based on analysis of the spatial distribution of housing units taken throughout a site. We field tested both methods and validated the results against a census in Esturro Bairro, Beira, Mozambique. Compared to the census (population: 9,479), the T-Square yielded a better population estimate (9,523) than the Quadrat method (7,681; 95% confidence interval: 6,160-9,201), but was more difficult for field survey teams to implement. Although applicable only to similar sites, several general conclusions can be drawn for emergency planning

A new Manifestation of Atomic Parity Violation in Cesium: a Chiral Optical Gain induced by linearly polarized 6S-7S Excitation

We have detected, by using stimulated emission, an Atomic Parity Violation (APV) in the form of a chiral optical gain of a cesium vapor on the 7S - 6P$_{3/2}$ transition,consecutive to linearly polarized 6S-7S excitation. We demonstrate the validity of this detection method of APV, by presenting a 9% accurate measurement of expected sign and magnitude. We underline several advantages of this entirely new approach in which the cylindrical symmetry of the set-up can be fully exploited. Future measurements at the percent level will provide an important cross-check of an existing more precise result obtained by a different method.Comment: 4 pages, 2 figure

Search for anisotropic effects of hcp solid helium on optical lines of cesium impurities

The anisotropic effect of a hcp 4He solid matrix on cesium atoms has been proposed as a tool to reveal the parity violating anapole moment of its nucleus. It should also result in splitting the D2 optical excitation line in a way depending on the light polarization. An experimental investigation has been set up using oriented hcp helium crystals in which cesium metal grains are embedded. Atoms are created by laser sputtering from this grains. Optical absorption spectra of the D2 line have been recorded in the temperature range of 1.0 to 1.4 K at liquid/solid coexistence pressure by monitoring the fluorescence on the D2 line at 950 nm. No significant effect of the light polarization has been found, suggesting a statistically isotropic disordered solid environment for the cesium atoms.Comment: The original publication will be available at http://www.springerlink.co

Insertion of T4-lysozyme (T4L) can be a useful tool for studying olfactory-related GPCRs.

The detergents used to solubilize GPCRs can make crystal growth the rate-limiting step in determining their structure. The Kobilka laboratory showed that insertion of T4-lysozyme (T4L) in the 3rd intracellular loop is a promising strategy towards increasing the solvent-exposed receptor area, and hence the number of possible lattice-forming contacts. The potential to use T4L with the olfactory-related receptors hOR17-4 and hVN1R1 was thus tested. The structure and function of native and T4L-variants were compared. Both receptors localized to the cell membrane, and could initiate ligand-activated signaling. Purified receptors not only had the predicted alpha-helical structures, but also bound their ligands canthoxal (MW = 178.23) and myrtenal (MW = 150.22). Interestingly, the T4L variants had higher percentages of soluble monomers compared to protein aggregates, effectively increasing the protein yield that could be used for structural and function studies. They also bound their ligands for longer times, suggesting higher receptor stability. Our results indicate that a T4L insertion may be a general method for obtaining GPCRs suitable for structural studies