Financial Super-Markets: Size Matters for Asset Trade

The paper presents a two-country macroeconomic model in which the number of financial assets is endogenous. Imperfect substitutability of assets and international transaction costs give a comparative advantage to large markets, because of demand effects. Agents have more incentives to undertake risky investments on those markets; they can also diversify risk at a lower cost. Prices of financial assets are higher in the large area because asset markets are broader. We also analyse the impact of domestic transaction costs and issuing costs on financial markets and returns. Our theory has important implications for the pattern of international trade in risky assets.International macroeconomics, asset trade, transaction costs, incomplete markets

An Inconsistency in the Simulation of Bose-Einstein Correlations

We show that the formalism commonly used to implement Bose-Einstein correlations in Monte-Carlo simulations can lead to values of the two-particle correlator significantly smaller than unity, in the case of sources with strong position-momentum correlations. This is more pronounced when the phase space of the emitted particles is strongly reduced by experimental acceptance or kinematic analysis selections. It is inconsistent with general principles according to which the Bose-Einstein correlator is larger than unity. This inconsistency seems to be rooted in the fact that quantum mechanical localization properties are not taken into account properly.Comment: 10 pages, LaTe

Bethe Ansatz solutions for Temperley-Lieb Quantum Spin Chains

We solve the spectrum of quantum spin chains based on representations of the Temperley-Lieb algebra associated with the quantum groups ${\cal U}_{q}(X_{n})$ for $X_{n}=A_{1},$ $B_{n},$ $C_{n}$ and $D_{n}$. The tool is a modified version of the coordinate Bethe Ansatz through a suitable choice of the Bethe states which give to all models the same status relative to their diagonalization. All these models have equivalent spectra up to degeneracies and the spectra of the lower dimensional representations are contained in the higher-dimensional ones. Periodic boundary conditions, free boundary conditions and closed non-local boundary conditions are considered. Periodic boundary conditions, unlike free boundary conditions, break quantum group invariance. For closed non-local cases the models are quantum group invariant as well as periodic in a certain sense.Comment: 28 pages, plain LaTex, no figures, to appear in Int. J. Mod. Phys.

Exact valence bond entanglement entropy and probability distribution in the XXX spin chain and the Potts model

By relating the ground state of Temperley-Lieb hamiltonians to partition functions of 2D statistical mechanics systems on a half plane, and using a boundary Coulomb gas formalism, we obtain in closed form the valence bond entanglement entropy as well as the valence bond probability distribution in these ground states. We find in particular that for the XXX spin chain, the number N_c of valence bonds connecting a subsystem of size L to the outside goes, in the thermodynamic limit, as = (4/pi^2) ln L, disproving a recent conjecture that this should be related with the von Neumann entropy, and thus equal to 1/(3 ln 2) ln L. Our results generalize to the Q-state Potts model.Comment: 4 pages, 2 figure

TeV Cherenkov Events as Bose-Einstein Gamma Condensations

The recent detection of gamma radiation from Mkn 501 at energies as high as 25 TeV suggests stringent upper bounds on the diffuse, far infrared, extragalactic radiation density. The production of electron-positron pairs through photon-photon collisions would prevent gamma photons of substantially higher energies from reaching us across distances of order 100 Mpc. However, coherently arriving TeV or sub-TeV gammas - Bose-Einstein condensations of photons at these energies - could mimic the Cherenkov shower signatures of extremely energetic gammas. To better understand such events, we describe their observational traits and discuss how they might be generated.Comment: 12 pages, 2 figures, accepted for publication in Ap.J.(Lett.

A hybrid model for Rydberg gases including exact two-body correlations

A model for the simulation of ensembles of laser-driven Rydberg-Rydberg interacting multi-level atoms is discussed. Our hybrid approach combines an exact two-body treatment of nearby atom pairs with an effective approximate treatment for spatially separated pairs. We propose an optimized evolution equation based only on the system steady state, and a time-independent Monte Carlo technique is used to efficiently determine this steady state. The hybrid model predicts features in the pair correlation function arising from multi-atom processes which existing models can only partially reproduce. Our interpretation of these features shows that higher-order correlations are relevant already at low densities. Finally, we analyze the performance of our model in the high-density case.Comment: significantly expanded and revised version (more observables, high-density regime); 9 pages, 8 figure

Valence Bond Entanglement and Fluctuations in Random Singlet Phases

The ground state of the uniform antiferromagnetic spin-1/2 Heisenberg chain can be viewed as a strongly fluctuating liquid of valence bonds, while in disordered chains these bonds lock into random singlet states on long length scales. We show that this phenomenon can be studied numerically, even in the case of weak disorder, by calculating the mean value of the number of valence bonds leaving a block of $L$ contiguous spins (the valence-bond entanglement entropy) as well as the fluctuations in this number. These fluctuations show a clear crossover from a small $L$ regime, in which they behave similar to those of the uniform model, to a large $L$ regime in which they saturate in a way consistent with the formation of a random singlet state on long length scales. A scaling analysis of these fluctuations is used to study the dependence on disorder strength of the length scale characterizing the crossover between these two regimes. Results are obtained for a class of models which include, in addition to the spin-1/2 Heisenberg chain, the uniform and disordered critical 1D transverse-field Ising model and chains of interacting non-Abelian anyons.Comment: 8 pages, 6 figure