Analysis of binary trading patterns in Xetra

This paper proposes the Shannon entropy as an appropriate one-dimensional measure of behavioural trading patterns in financial markets. The concept is applied to the illustrative example of algorithmic vs. non-algorithmic trading and empirical data from Deutsche Börse's electronic cash equity trading system, Xetra. The results reveal pronounced differences between algorithmic and non-algorithmic traders. In particular, trading patterns of algorithmic traders exhibit a medium degree of regularity while non-algorithmic trading tends towards either very regular or very irregular trading patterns. JEL Classification: C40, D0, G14, G15, G2

Energy loss in a partonic transport model including bremsstrahlung processes

A detailed investigation of the energy loss of gluons that traverse a thermal gluonic medium simulated within the perturbative QCD--based transport model BAMPS (a Boltzmann approach to multiparton scatterings) is presented in the first part of this work. For simplicity the medium response is neglected in these calculations. The energy loss from purely elastic interactions is compared to the case where radiative processes are consistently included based on the matrix element by Gunion and Bertsch. From this comparison gluon multiplication processes gg -> ggg are found to be the dominant source of energy loss within the approach employed here. The consequences for the quenching of gluons with high transverse momentum in fully dynamic simulations of Au+Au collisions at the RHIC energy of sqrt(s) = 200 AGeV are discussed in the second major part of this work. The results for central collisions as discussed in a previous publication are revisited and first results on the nuclear modification factor R_AA for non-central Au+Au collisions are presented. They show a decreased quenching compared to central collisions while retaining the same shape. The investigation of the elliptic flow v2 is extended up to non-thermal transverse momenta of 10 GeV, exhibiting a maximum v2 at roughly 4 to 5 GeV and a subsequent decrease. Finally the sensitivity of the aforementioned results on the specific implementation of the effective modeling of the Landau-Pomeranchuk-Migdal (LPM) effect via a formation time based cut-off is explored.Comment: 40 pages, 20 figures, 1 tabl

Renormalization group flows into phases with broken symmetry

We describe a way to continue the fermionic renormalization group flow into phases with broken global symmetry. The method does not require a Hubbard-Stratonovich decoupling of the interaction. Instead an infinitesimally small symmetry-breaking component is inserted in the initial action, as an initial condition for the flow of the selfenergy. Its flow is driven by the interaction and at low scales it saturates at a nonzero value if there is a tendency for spontaneous symmetry breaking in the corresponding channel. For the reduced BCS model we show how a small initial gap amplitude flows to the value given by the exact solution of the model. We also discuss the emergence of the Goldstone boson in this approach.Comment: 30 pages, LaTeX, 8 figure

Work and the Lodge: Fraternalism in Meridan and New Britain, Connecticut

http://deepblue.lib.umich.edu/bitstream/2027.42/50932/1/157.pd