An orientable time of flight detector for cosmic rays

Cosmic ray studies, in particular UHECR, can be in general supported by a directional, easy deployable, simple and robust detector. The design of this detector is based on the time of flight between two parallel tiles of scintillator, to distinguish particle passing through in opposite directions; by fine time resolution and pretty adjustable acceptance it is possible to select upward(left)/downward(right) cosmic rays. It has been developed for an array of detectors to measure upward $\tau$ from Earth-Skimming neutrino events with energy above $10^8 GeV$. The properties and performances of the detector are discussed. Test results from a high noise environment are presented.Comment: 4 pages, Nuclear Instruments and methods, Proceedings Ricap0

Test results of a prototype designed to detect horizontal cosmic ray flux

In this paper we report test results from a prototype designed to detect muons from horizontal air shower at large zenith angle, $86^{0}<\Theta<93^{0}$. To detect horizontal tracks and their directions we select them according the muon vertical equivalent charge and we measure the time of flight with a time resolution of 800 ps. Several measurements are collected at different zenith angles. The background studies performed with two modules show that the main source is due to tracks crossing the module at the same time. The upper limit of background flux for a single twin module is estimated to be $10^{-9} cm^{-2}$ $s^{-1}$ $sr^{-1} (90$. We estimated the size of the surface array necessary to detect the shower flux of the order of $10^{-9} cm^{-2}$ $yr^{-1}$ $sr^{-1}$ if originated by Tau Air-Showers secondaries of GZK neutrino Tau below the horizons.Comment: 12 pages, 13 figure

On Heteropolymer Shape Dynamics

We investigate the time evolution of the heteropolymer model introduced by Iori, Marinari and Parisi to describe some of the features of protein folding mechanisms. We study how the (folded) shape of the chain evolves in time. We find that for short times the mean square distance (squared) between chain configurations evolves according to a power law, $D \sim t ^\nu$. We discuss the influence of the quenched disorder (represented by the randomness of the coupling constants in the Lennard-Jones potential) on value of the critical exponent. We find that $\nu$ decreases from $\frac{2}{3}$ to $\frac{1}{2}$ when the strength of the quenched disorder increases.Comment: 12 pages, very simple LaTeX file, 6 figures not included, sorry. SCCS 33

Market microstructure, bank's behaviour and interbank spreads

We present an empirical analysis of the European electronic interbank market of overnight lending (e-MID) during the years 1999–2009. The main goal of the paper is to explain the observed changes of the cross-sectional dispersion of lending/borrowing conditions before, during and after the 2007–2008 subprime crisis. Unlike previous contributions, that focused on banks’ dependent and macro information as explanatory variables, we address the role of banks’ behaviour and market microstructure as determinants of the credit spreads

Electron muon identification by atmospheric shower and electron beam in a new concept of an EAS detector

We present results demonstrating the time resolution and $\mu$/e separation capabilities with a new concept of an EAS detector capable for measurements of cosmic rays arriving with large zenith angles. This kind of detector has been designed to be a part of a large area (several square kilometers) surface array designed to measure Ultra High Energy (10-200 PeV) $\tau$ neutrinos using the Earth-skimming technique. A criteria to identify electron-gammas is also shown and the particle identification capability is tested by measurements in coincidence with the KASKADE-GRANDE experiment in Karlsruhe, Germany.Comment: accepted by Astrophysical Journal on January 12 2015, 16 pages 3 Figure

Why do financial markets asymmetrically smile? A simple formula in the multi-factor Heston model

A simple approach to determining the Gaussian kernel that constitutes the backbone of the multi-factor Heston model is proposed based on a suitable expansion in powers of volatilities of volatilities. This analysis provides Black-Scholes-like formulas for pricing European vanilla options, allowing for accurate approximations of the option prices under the multi-factor Heston model up to volatilities of volatilities on the order of 50%. The analysis also leads to a simple formula for the implied volatility showing that changes in the convexity of the volatility smile are due only to price skewness, and an easy formula to reproduce volatility indices via the realized volatility. Interestingly, the variance of the Gaussian kernel is equal to the variance of the continuously compounded return in the case of the Heston model. The empirical analyses presented assess the potential of our approach to capture market distortions while adequately forecasting the dynamics of the VIX index