Splitting of separatrices, scattering maps, and energy growth for a billiard inside a time-dependent symmetric domain close to an ellipse

We study billiard dynamics inside an ellipse for which the axes lengths are changed periodically in time and an $O(\delta)$-small quartic polynomial deformation is added to the boundary. In this situation the energy of the particle in the billiard is no longer conserved. We show a Fermi acceleration in such system: there exists a billiard trajectory on which the energy tends to infinity. The construction is based on the analysis of dynamics in the phase space near a homoclinic intersection of the stable and unstable manifolds of the normally hyperbolic invariant cylinder $\Lambda$, parameterised by the energy and time, that corresponds to the motion along the major axis of the ellipse. The proof depends on the reduction of the billiard map near the homoclinic channel to an iterated function system comprised by the shifts along two Hamiltonian flows defined on $\Lambda$. The two flows approximate the so-called inner and scattering maps, which are basic tools that arise in the studies of the Arnold diffusion; the scattering maps defined by the projection along the strong stable and strong unstable foliations $W^{ss,uu}$ of the stable and unstable invariant manifolds $W^{s,u}(\Lambda)$ at the homoclinic points. Melnikov type calculations imply that the behaviour of the scattering map in this problem is quite unusual: it is only defined on a small subset of $\Lambda$ that shrinks, in the large energy limit, to a set of parallel lines $t=const$ as $\delta\to 0$.Comment: 25 page

Off-Shell Hodge Dualities in Linearised Gravity and E11

In a spacetime of dimension n, the dual graviton is characterised by a Young diagram with two columns, the first of length n-3 and the second of length one. In this paper we perform the off-shell dualisation relating the dual graviton to the double-dual graviton, displaying the precise off-shell field content and gauge invariances. We then show that one can further perform infinitely many off-shell dualities, reformulating linearised gravity in an infinite number of equivalent actions. The actions require supplementary mixed-symmetry fields which are contained within the generalised Kac-Moody algebra E11 and are associated with null and imaginary roots.Comment: 33 pages, 2 figures, nomenclature changed and comments added to the conclusion

Portfolio optimization in the case of an asset with a given liquidation time distribution

Management of the portfolios containing low liquidity assets is a tedious problem. The buyer proposes the price that can differ greatly from the paper value estimated by the seller, the seller, on the other hand, can not liquidate his portfolio instantly and waits for a more favorable offer. To minimize losses in this case we need to develop new methods. One of the steps moving the theory towards practical needs is to take into account the time lag of the liquidation of an illiquid asset. This task became especially significant for the practitioners in the time of the global financial crises. Working in the Merton's optimal consumption framework with continuous time we consider an optimization problem for a portfolio with an illiquid, a risky and a risk-free asset. While a standard Black-Scholes market describes the liquid part of the investment the illiquid asset is sold at a random moment with prescribed liquidation time distribution. In the moment of liquidation it generates additional liquid wealth dependent on illiquid assets paper value. The investor has the logarithmic utility function as a limit case of a HARA-type utility. Different distributions of the liquidation time of the illiquid asset are under consideration - a classical exponential distribution and Weibull distribution that is more practically relevant. Under certain conditions we show the existence of the viscosity solution in both cases. Applying numerical methods we compare classical Merton's strategies and the optimal consumption-allocation strategies for portfolios with different liquidation-time distributions of an illiquid asset.Comment: 30 pages, 1 figur

From Principal Series to Finite-Dimensional Solutions of the Yang-Baxter Equation

We start from known solutions of the Yang-Baxter equation with a spectral parameter defined on the tensor product of two infinite-dimensional principal series representations of the group $\mathrm{SL}(2,\mathbb{C})$ or Faddeev's modular double. Then we describe its restriction to an irreducible finite-dimensional representation in one or both spaces. In this way we obtain very simple explicit formulas embracing rational and trigonometric finite-dimensional solutions of the Yang-Baxter equation. Finally, we construct these finite-dimensional solutions by means of the fusion procedure and find a nice agreement between two approaches