Fluid-driven deformation of a soft granular material

Compressing a porous, fluid-filled material will drive the interstitial fluid out of the pore space, as when squeezing water out of a kitchen sponge. Inversely, injecting fluid into a porous material can deform the solid structure, as when fracturing a shale for natural gas recovery. These poromechanical interactions play an important role in geological and biological systems across a wide range of scales, from the propagation of magma through the Earth's mantle to the transport of fluid through living cells and tissues. The theory of poroelasticity has been largely successful in modeling poromechanical behavior in relatively simple systems, but this continuum theory is fundamentally limited by our understanding of the pore-scale interactions between the fluid and the solid, and these problems are notoriously difficult to study in a laboratory setting. Here, we present a high-resolution measurement of injection-driven poromechanical deformation in a system with granular microsctructure: We inject fluid into a dense, confined monolayer of soft particles and use particle tracking to reveal the dynamics of the multi-scale deformation field. We find that a continuum model based on poroelasticity theory captures certain macroscopic features of the deformation, but the particle-scale deformation field exhibits dramatic departures from smooth, continuum behavior. We observe particle-scale rearrangement and hysteresis, as well as petal-like mesoscale structures that are connected to material failure through spiral shear banding

Spectrum and Duration of Delayed MeV-GeV Emission of Gamma-Ray Bursts in Cosmic Background Radiation Fields

We generally analyze prompt high-energy emission above a few hundreds of GeV due to synchrotron self-Compton scattering in internal shocks. However, such photons cannot be detected because they may collide with cosmic infrared background photons, leading to electron/positron pair production. Inverse-Compton scattering of the resulting electron/positron pairs off cosmic microwave background photons will produce delayed MeV-GeV emission, which may be much stronger than a typical high-energy afterglow in the external shock model. We expand on the Cheng & Cheng model by deriving the emission spectrum and duration in the standard fireball shock model. A typical duration of the emission is ~ 10^3 seconds, and the time-integrated scattered photon spectrum is nu^{-(p+6)/4}, where p is the index of the electron energy distribution behind internal shocks. This is slightly harder than the synchrotron photon spectrum, nu^{-(p+2)/2}. The lower energy property of the scattered photon spectrum is dependent on the spectral energy distribution of the cosmic infrared background radiation. Therefore, future observations on such delayed MeV-GeV emission and the higher-energy spectral cutoff by the Gamma-Ray Large Area Space Telescope (GLAST) would provide a probe of the cosmic infrared background radiation.Comment: 5 pages, accepted for publication in Ap

Longevity Risk and Capital Markets: The 2015-16 Update

International audienc

Probing Galaxy Formation with TeV Gamma Ray Absorption

We present here the extragalactic background light (EBL) predicted by semi-analytic models of galaxy formation, and show how measurements of the absorption of gamma rays of $\sim$ TeV energies via pair production on the EBL can probe cosmology and the formation of galaxies. Semi-analytic models permit a physical treatment of the key processes of galaxy formation -- including gravitational collapse and merging of dark matter halos, gas cooling and dissipation, star formation, supernova feedback and metal production -- and have been shown to reproduce key observations at low and high redshift. Using this approach, we investigate the consequences of variations in input assumptions such as the stellar initial mass function and the underlying cosmology. We conclude that observational studies of the absorption of $\sim 10^{-2}-10^{2}$ TeV gamma rays will help to constrain the star formation history of the universe, and the nature and extent of the extinction of starlight due to dust and reradiation of the absorbed energy at infrared wavelengths.Comment: 17 pages, 8 figures, presented at the VERITAS Workshop on TeV Astrophysics of Extragalactic Sources, eds. M. Catanese and T. Weekes, to be published in Astroparticle Physic

Evidence for Intergalactic Absorption in the TeV Gamma-Ray Spectrum of Mkn 501

The recent HEGRA observations of the blazar Mkn 501 show strong curvature in the very high energy gamma-ray spectrum. Applying the gamma-ray opacity derived from an empirically based model of the intergalactic infrared background radiation field (IIRF), to these observations, we find that the intrinsic spectrum of this source is consistent with a power-law: dN/dE~ E^-alpha with alpha=2.00 +/- 0.03 over the range 500 GeV - 20 TeV. Within current synchrotron self-Compton scenarios, the fact that the TeV spectral energy distribution of Mkn 501 does not vary with luminosity, combined with the correlated, spectrally variable emission in X-rays, as observed by the BeppoSAX and RXTE instruments, also independently implies that the intrinsic spectrum must be close to alpha=2. Thus, the observed curvature in the spectrum is most easily understood as resulting from intergalactic absorption.Comment: 7 pages, 1 figure, accepted in ApJ Letters 1999 April

Longevity Risk and Hedging Solutions

Longevity risk—the risk of unanticipated increases in life expectancy—has only recently been recognized as a significant global risk that has materially raised the costs of providing pensions and annuities. We first discuss historical trends in the evolution of life expectancy and then analyze the hedging solutions that have been developed for managing longevity risk. One set of solutions has come directly from the insurance industry: pension buyouts, buy-ins, and bulk annuity transfers. Another complementary set of solutions has come from the capital markets: longevity swaps and q-forwards. This has led to hybrid solutions such as synthetic buy-ins. We then review the evolution of the market for longevity risk transfer, which began in the UK in 2006 and is arguably the most important sector of the broader “life market.” An important theme in the development of the longevity market has been the innovation originating from the combined involvement of insurance, banking, and private equity participants

Multiple mortality modeling in Poisson Lee-Carter framework

The academic literature in longevity field has recently focused on models for detecting multiple population trends (D'Amato et al., 2012b; Njenga and Sherris, 2011; Russolillo et al., 2011, etc.). In particular, increasing interest has been shown about "related" population dynamics or "parent" populations characterized by similar socioeconomic conditions and eventually also by geographical proximity. These studies suggest dependence across multiple populations and common long-run relationships between countries (for instance, see Lazar et al., 2009). In order to investigate cross-country longevity common trends, we adopt a multiple population approach. The algorithm we propose retains the parametric structure of the Lee-Carter model, extending the basic framework to include some cross-dependence in the error term. As far as time dependence is concerned, we allow for all idiosyncratic components (both in the common stochastic trend and in the error term) to follow a linear process, thus considering a highly flexible specification for the serial dependence structure of our data. We also relax the assumption of normality, which is typical of early studies on mortality (Lee and Carter, 1992) and on factor models (see e.g., the textbook by Anderson, 1984). The empirical results show that the multiple Lee-Carter approach works well in the presence of dependence