Money and Goldstone modes

Why is ``worthless'' fiat money generally accepted as payment for goods and services? In equilibrium theory, the value of money is generally not determined: the number of equations is one less than the number of unknowns, so only relative prices are determined. In the language of mathematics, the equations are ``homogeneous of order one''. Using the language of physics, this represents a continuous ``Goldstone'' symmetry. However, the continuous symmetry is often broken by the dynamics of the system, thus fixing the value of the otherwise undetermined variable. In economics, the value of money is a strategic variable which each agent must determine at each transaction by estimating the effect of future interactions with other agents. This idea is illustrated by a simple network model of monopolistic vendors and buyers, with bounded rationality. We submit that dynamical, spontaneous symmetry breaking is the fundamental principle for fixing the value of money. Perhaps the continuous symmetry representing the lack of restoring force is also the fundamental reason for large fluctuations in stock markets.Comment: 7 pages, 3 figure

Power spectrum analysis with least-squares fitting: Amplitude bias and its elimination, with application to optical tweezers and atomic force microscope cantilevers

Optical tweezers and AFM cantilevers are often calibrated by fitting their experimental powerspectra of Brownian motion. We demonstrate here that if this is done with typical weighted least-squares methods the result is a bias of relative size between -2/n and +1/n on the value of the fitted diffusion coefficient. Here n is the number of power-spectra averaged over, so typical calibrations contain 10-20% bias. Both the sign and the size of the bias depends on the weighting scheme applied. Hence, so do length-scale calibrations based on the diffusion coefficient. The fitted value for the characteristic frequency is not affected by this bias. For the AFM then, force measurements are not affected provided an independent length-scale calibration is available. For optical-tweezers there is no such luck, since the spring constant is found as the ratio of the characteristic frequency and the diffusion coefficient. We give analytical results for the weight-dependent bias for the wide class of systems whose dynamics is described by a linear (integro-)differential equation with additive noise, white or colored. Examples are optical tweezers with hydrodynamic self-interaction and aliasing, calibration of Ornstein-Uhlenbeck models in finance, models for cell-migration in biology, etc. Because the bias takes the form of a simple multiplicative factor on the fitted amplitude (e.g. the diffusion coefficient) it is straightforward to remove, and the user will need minimal modifications to his or her favorite least-square fitting programs. Results are demonstrated and illustrated using synthetic data, so we can compare fits with known true values. We also fit some commonly occurring power spectra once-and-for-all in the sense that we give their parameter values and associated error-bars as explicit functions of experimental power-spectral values.Comment: 20 pages, 10 figure

RNAi Screening Uncovers a Synthetic Sick Interaction between CtIP and the BARD1 Tumor Suppressor

Human CtIP is best known for its role in DNA end resection to initiate DNA double-strand break repair by homologous recombination. Recently, CtIP has also been shown to protect reversed replication forks from nucleolytic degradation upon DNA replication stress. However, still little is known about the DNA damage response (DDR) networks that preserve genome integrity and sustain cell survival in the context of CtIP insufficiency. Here, to reveal such potential buffering relationships, we screened a DDR siRNA library in CtIP-deficient cells to identify candidate genes that induce synthetic sickness/lethality (SSL). Our analyses unveil a negative genetic interaction between CtIP and BARD1, the heterodimeric binding partner of BRCA1. We found that simultaneous disruption of CtIP and BARD1 triggers enhanced apoptosis due to persistent replication stress-induced DNA lesions giving rise to chromosomal abnormalities. Moreover, we observed that the genetic interaction between CtIP and BARD1 occurs independently of the BRCA1-BARD1 complex formation and might be, therefore, therapeutical relevant for the treatment of BRCA-defective tumors.Peer reviewe

The Dynamics of Money

We present a dynamical many-body theory of money in which the value of money is a time dependent ``strategic variable'' that is chosen by the individual agents. The value of money in equilibrium is not fixed by the equations, and thus represents a continuous symmetry. The dynamics breaks this continuous symmetry by fixating the value of money at a level which depends on initial conditions. The fluctuations around the equilibrium, for instance in the presence of noise, are governed by the ``Goldstone modes'' associated with the broken symmetry. The idea is illustrated by a simple network model of monopolistic vendors and buyers.

The Dynamics of Money

General equilibrium theory in economics defines the relative prices for goods and services, but does not fix the absolute values of prices. We present a theory of money in which the value of money is a time dependent "strategic variable," to be chosen by the individual agents. The idea is illustrated by a simple network model of monopolistic vendors and buyers. The indeterminacy of the value of money in equilibrium theory implies a soft "Goldstone mode," leading to large fluctuations in prices in the presence of noise. Submitted to Physical Review Letters.General equilibrium, money, Goldstone modes

Money and Goldstone modes

Why is ``worthless'' fiat money generally accepted as payment for goods and services? In equilibrium theory, the value of money is generally not determined: the number of equations is one less than the number of unknowns, so only relative prices are determined. In the language of mathematics, the equations are ``homogeneous of order one''. Using the language of physics, this represents a continuous ``Goldstone'' symmetry. However, the continuous symmetry is often broken by the dynamics of the system, thus fixing the value of the otherwise undetermined variable. In economics, the value of money is a strategic variable which each agent must determine at each transaction by estimating the effect of future interactions with other agents. This idea is illustrated by a simple network model of monopolistic vendors and buyers, with bounded rationality. We submit that dynamical, spontaneous symmetry breaking is the fundamental principle for fixing the value of money. Perhaps the continuous symmetry representing the lack of restoring force is also the fundamental reason for large fluctuations in stock markets.

Posttranscriptional Regulation of the Human LDL Receptor by the U2-Spliceosome

International audienceBACKGROUND: The LDLR (low-density lipoprotein receptor) in the liver is the major determinant of LDL-cholesterol levels in human plasma. The discovery of genes that regulate the activity of LDLR helps to identify pathomechanisms of hypercholesterolemia and novel therapeutic targets against atherosclerotic cardiovascular disease. METHODS: We performed a genome-wide RNA interference screen for genes limiting the uptake of fluorescent LDL into Huh-7 hepatocarcinoma cells. Top hit genes were validated by in vitro experiments as well as analyses of data sets on gene expression and variants in human populations. RESULTS: The knockdown of 54 genes significantly inhibited LDL uptake. Fifteen of them encode for components or interactors of the U2-spliceosome. Knocking down any one of 11 out of 15 genes resulted in the selective retention of intron 3 of LDLR. The translated LDLR fragment lacks 88% of the full length LDLR and is detectable neither in nontransfected cells nor in human plasma. The hepatic expression of the intron 3 retention transcript is increased in nonalcoholic fatty liver disease as well as after bariatric surgery. Its expression in blood cells correlates with LDL-cholesterol and age. Single nucleotide polymorphisms and 3 rare variants of one spliceosome gene, RBM25, are associated with LDL-cholesterol in the population and familial hypercholesterolemia, respectively. Compared with overexpression of wild-type RBM25, overexpression of the 3 rare RBM25 mutants in Huh-7 cells led to lower LDL uptake. CONCLUSIONS: We identified a novel mechanism of posttranscriptional regulation of LDLR activity in humans and associations of genetic variants of RBM25 with LDL-cholesterol levels