Optimal consumption and investment with bounded downside risk for power utility functions

We investigate optimal consumption and investment problems for a Black-Scholes market under uniform restrictions on Value-at-Risk and Expected Shortfall. We formulate various utility maximization problems, which can be solved explicitly. We compare the optimal solutions in form of optimal value, optimal control and optimal wealth to analogous problems under additional uniform risk bounds. Our proofs are partly based on solutions to Hamilton-Jacobi-Bellman equations, and we prove a corresponding verification theorem. This work was supported by the European Science Foundation through the AMaMeF programme.Comment: 36 page

Nifedipine in Congenital Hyperinsulinism - A Case Report.

PublishedJournal ArticleThis is the final version of the article. Available from Galenos Yayınevi via the DOI in this record.Congenital hyperinsulinism (CHI) is the commonest cause of persistent hypoglycemia in neonates. Diazoxide is the first-line drug in its treatment, but the more severe cases are usually diazoxide-resistant. Recessive ABCC8 and KCNJ11 mutations are responsible for most (82%) of the severe diazoxide-unresponsive CHI. Oral nifedipine has been effective in isolated cases of CHI. Successful treatment of diazoxide-unresponsive CHI with a combination of octreotide and nifedipine has been reported in a single isolated case so far. We report here a case of diazoxide-resistant CHI due to homozygous ABCC8 nonsense mutation. In this case, hypoglycaemia uncontrolled by pancreatectomy and octreotide alone showed a good response to a combination of nifedipine and octreotide. Octreotide was tapered off by one year age and thereafter the child is euglycaemic on oral nifedipine alone. Continuous glucose monitoring sensor was used as an aid to monitor glycaemic control and was found to be a safe and reliable option reducing the number of needle-pricks in small children

Clebsch-Gordan Construction of Lattice Interpolating Fields for Excited Baryons

Large sets of baryon interpolating field operators are developed for use in lattice QCD studies of baryons with zero momentum. Operators are classified according to the double-valued irreducible representations of the octahedral group. At first, three-quark smeared, local operators are constructed for each isospin and strangeness and they are classified according to their symmetry with respect to exchange of Dirac indices. Nonlocal baryon operators are formulated in a second step as direct products of the spinor structures of smeared, local operators together with gauge-covariant lattice displacements of one or more of the smeared quark fields. Linear combinations of direct products of spinorial and spatial irreducible representations are then formed with appropriate Clebsch-Gordan coefficients of the octahedral group. The construction attempts to maintain maximal overlap with the continuum SU(2) group in order to provide a physically interpretable basis. Nonlocal operators provide direct couplings to states that have nonzero orbital angular momentum.Comment: This manuscript provides an anlytical construction of operators and is related to hep-lat/0506029, which provides a computational construction. This e-print version contains a full set of Clebsch-Gordan coefficients for the octahedral grou

Superradiant scattering from a hydrodynamic vortex

We show that sound waves scattered from a hydrodynamic vortex may be amplified. Such superradiant scattering follows from the physical analogy between spinning black holes and hydrodynamic vortices. However a sonic horizon analogous to the black hole event horizon does not exist unless the vortex possesses a central drain, which is challenging to produce experimentally. In the astrophysical domain, superradiance can occur even in the absence of an event horizon: we show that in the hydrodynamic analogue, a drain is not required and a vortex scatters sound superradiantly. Possible experimental realization in dilute gas Bose-Einstein condensates is discussed.Comment: 10 pages, 1 figur

An Overview of Wireless Local Area Networks and Security System

Wireless Communication is one of the fastest growing technologies in the world which is an application of technology and science in the modern life. Radio and telephone to current devices such as mobile phone, laptops, television broadcasting are the most essential part of our life. Wireless LAN, Cellular Telephony and Satellite based communication networks are the several parts of the wireless communication industry. In this paper, we have emphasized on a study of Wireless LAN technologies and its concerned issues: Wireless Networking, What WLANs are, History of WLAN, Need of WLAN, Types of WLAN, Advantages of WLAN, IEEE 802.11 Standards, Network Security

Prompt emission polarimetry of Gamma Ray Bursts with ASTROSAT CZT-Imager

X-ray and Gamma-ray polarization measurements of the prompt emission of Gamma-ray bursts (GRBs) are believed to be extremely important for testing various models of GRBs. So far, the available measurements of hard X-ray polarization of GRB prompt emission have not significantly constrained the GRB models, particularly because of the difficulty of measuring polarization in these bands. The CZT Imager (CZTI) onboard {\em AstroSat} is primarily an X-ray spectroscopic instrument that also works as a wide angle GRB monitor due to the transparency of its support structure above 100 keV. It also has experimentally verified polarization measurement capability in the 100 $-$ 300 keV energy range and thus provides a unique opportunity to attempt spectro-polarimetric studies of GRBs. Here we present the polarization data for the brightest 11 GRBs detected by CZTI during its first year of operation. Among these, 5 GRBs show polarization signatures with $\gtrapprox$3$\sigma$, and 1 GRB shows $\>$2$\sigma$ detection significance. We place upper limits for the remaining 5 GRBs. We provide details of the various tests performed to validate our polarization measurements. While it is difficult yet to discriminate between various emission models with the current sample alone, the large number of polarization measurements CZTI expects to gather in its minimum lifetime of five years should help to significantly improve our understanding of the prompt emission.Comment: Accepted for Publication in ApJ ; a figure has been update

Relative Value Iteration for Stochastic Differential Games

We study zero-sum stochastic differential games with player dynamics governed by a nondegenerate controlled diffusion process. Under the assumption of uniform stability, we establish the existence of a solution to the Isaac's equation for the ergodic game and characterize the optimal stationary strategies. The data is not assumed to be bounded, nor do we assume geometric ergodicity. Thus our results extend previous work in the literature. We also study a relative value iteration scheme that takes the form of a parabolic Isaac's equation. Under the hypothesis of geometric ergodicity we show that the relative value iteration converges to the elliptic Isaac's equation as time goes to infinity. We use these results to establish convergence of the relative value iteration for risk-sensitive control problems under an asymptotic flatness assumption

SU(N) chiral gauge theories on the lattice

We extend the construction of lattice chiral gauge theories based on non-perturbative gauge fixing to the non-abelian case. A key ingredient is that fermion doublers can be avoided at a novel type of critical point which is only accessible through gauge fixing, as we have shown before in the abelian case. The new ingredient allowing us to deal with the non-abelian case as well is the use of equivariant gauge fixing, which handles Gribov copies correctly, and avoids Neuberger's no-go theorem. We use this method in order to gauge fix the non-abelian group (which we will take to be SU(N)) down to its maximal abelian subgroup. Obtaining an undoubled, chiral fermion content requires us to gauge-fix also the remaining abelian gauge symmetry. This modifies the equivariant BRST identities, but their use in proving unitarity remains intact, as we show in perturbation theory. On the lattice, equivariant BRST symmetry as well as the abelian gauge invariance are broken, and a judiciously chosen irrelevant term must be added to the lattice gauge-fixing action in order to have access to the desired critical point in the phase diagram. We argue that gauge invariance is restored in the continuum limit by adjusting a finite number of counter terms. We emphasize that weak-coupling perturbation theory applies at the critical point which defines the continuum limit of our lattice chiral gauge theory.Comment: 39 pages, 3 figures, A number of clarifications adde